Live Ventures Incorporated (LIVE) 株式分析

企業概要

Live Ventures Incorporated is an entity engaged in the integrated manufacturing and retail of flooring and steel products within the United States market. The company operates across five distinct segments, including Retail-Entertainment, Retail-Flooring, Flooring Manufacturing, Steel Manufacturing, and Corporate and Other, thereby diversifying its operational exposure across different value chains. This enterprise is classified within the Consumer Cyclical sector and specifically the Home Improvement Retail industry, indicating that its performance is closely tied to discretionary consumer spending and housing market dynamics. With a market capitalization of $41.62M and annual revenue reaching $441.98M, the company employs 1,366 individuals to support its operations. The relatively small market cap relative to its substantial revenue base suggests that the company operates as a mid-tier or niche player in the home improvement landscape, potentially reflecting market perceptions regarding its growth trajectory or competitive positioning within the broader retail environment.

財務健全性

Live Ventures Incorporated reported a trailing twelve-month revenue of $441.98M, generating a net income of $22.19M and an EBITDA of $34.11M during the same period. The significant disparity between the gross revenue figure and the net income indicates a cost structure where operational expenses, including cost of goods sold and overhead, consume a substantial portion of top-line sales before reaching the bottom line. The company generated free cash flow of $22.43M, which provides a measure of financial flexibility allowing for potential capital expenditures, debt servicing, or strategic acquisitions without immediate reliance on external equity financing. Profitability is analyzed through three key margins: a gross margin of 33.0%, an operating margin of 3.2%, and a profit margin of 5.0%, where the narrow operating margin suggests high sensitivity to input cost fluctuations or intense competitive pricing pressures. On the balance sheet, the company holds $15.13M in cash against a total debt load of $224.05M, resulting in a debt-to-equity ratio of 235.12, which characterizes the financial structure as highly leveraged rather than conservative. Liquidity is assessed via a current ratio of 1.68, indicating that the company possesses sufficient current assets to cover its short-term liabilities with a comfortable buffer. Return metrics reveal a return on equity of 26.3% and a return on assets of 2.8%, illustrating that while the equity base generates high returns, the asset base's efficiency is dampened by the heavy debt load inherent in the capital structure.

バリュエーション評価

The valuation of Live Ventures Incorporated is characterized by a trailing P/E ratio of 2.85 and a forward P/E of 1.81, where the substantial difference between these figures implies that the market expects earnings to grow significantly in the near future to justify the current price levels. The price-to-book ratio stands at 0.44, suggesting that the stock trades at a deep discount to its book value, which may reflect market skepticism regarding the quality of assets or the ability to generate returns exceeding the cost of capital. Alternative valuation metrics such as the price-to-sales ratio of 0.09 and an EV/EBITDA of 7.34 provide additional context, indicating that the company is valued on a low multiple of sales and earnings, typical for capital-intensive industries with cyclical revenue patterns. Historical price data shows a 52-week high of $25.88 and a 52-week low of $7.01, and based on the available data points, the current trading range reflects significant volatility within this wide band. The beta of 1.16 indicates that the stock's price volatility is higher than the broader market, meaning it tends to amplify market movements during periods of economic expansion or contraction.

Growth & Income

Revenue growth on a year-over-year basis stands at -2.7%, while earnings growth is listed as N/A, indicating that the company is currently experiencing a contraction in sales that has yet to be reflected in a reported earnings decline or vice versa depending on the specific reporting period nuances. The absence of a positive earnings growth rate alongside negative revenue growth suggests that the company is in a defensive or restructuring phase where top-line pressures are currently dominating the financial narrative. As a non-dividend payer, the company maintains a dividend yield of N/A and a payout ratio of 0.0%, meaning that it retains all earnings to reinvest into its manufacturing facilities, retail locations, or to service its substantial debt obligations rather than distributing income to shareholders. The overall growth and income profile presents a scenario of capital preservation and operational consolidation rather than expansion or shareholder yield, as evidenced by the negative revenue trajectory and lack of dividend distribution mechanisms.