公司概述
Nocera, Inc. (NCRA) operates as an acquisition-focused entity within the consumer defensive sector, specifically targeting the packaged foods industry by providing specialized land-based recirculating aquaculture system services. The company's core business involves designing, building, and procuring essential equipment for aquaculture projects, while also delivering comprehensive engineering, procurement, and construction solutions for land-based fish farms. As of the latest data, the enterprise holds a market capitalization of $2.97 million and employs 19 individuals to support its operational and project execution capabilities. With an annual revenue of $14.11 million, the company's valuation metrics suggest it is a small-cap entity with a relatively modest revenue base compared to larger peers in the consumer staples or food production sectors. This scale indicates that Nocera is likely focused on niche market segments within aquaculture infrastructure rather than mass-market food distribution, positioning it as a specialized contractor rather than a broad-scale manufacturer. The low employee count relative to its revenue stream further underscores the asset-light, project-based nature of its aquaculture construction and equipment procurement model.
财务健康
Nocera, Inc. reported a total revenue of $14.11 million over the trailing twelve months, yet this top-line figure contrasts sharply with a net income loss of $4,075,555, revealing a significant gap where operating expenses and non-operating costs heavily outweigh gross profits. The company's EBITDA stands at -$1,888,806, indicating that even before financing costs and tax provisions, the core business operations generated negative cash earnings. Free cash flow for the period was -$2,945,417, which signals a substantial outflow of cash required to maintain operations and fund capital expenditures, thereby limiting the company's immediate financial flexibility to pay down debt or fund dividends without external financing. The gross margin stands at just 2.1%, suggesting that the cost of goods sold consumes nearly all revenue before other expenses are deducted, a common characteristic in low-margin construction or service-heavy aquaculture projects. Operating margin and profit margin are even more distressed at -51.2% and -28.9% respectively, highlighting that administrative, selling, and general expenses are eroding profitability significantly. On the balance sheet, the company holds $2.03 million in cash against $25,724 in debt, resulting in a debt-to-equity ratio of 0.53, which suggests the entity is not heavily leveraged despite current losses. The current ratio of 2.47 indicates a robust short-term liquidity position, as current assets are more than double current liabilities, providing ample buffer for meeting immediate obligations. Furthermore, the return on equity of -86.4% and return on assets of -20.5% demonstrate that management has not yet been effective in generating positive returns on the shareholders' capital or the asset base utilized.
估值评估
Trailing P/E and forward P/E ratios are both listed as N/A due to the company's lack of positive net income, which prevents traditional earnings-based valuation methods from being applied meaningfully at this time. The price-to-book ratio is 0.61, indicating that the stock trades at a significant discount to its book value, a common feature for distressed or loss-making companies where the market assigns a lower value to the underlying assets. The price-to-sales ratio of 0.21 suggests the market values the company at roughly 21 cents for every dollar of sales, reflecting a lack of confidence in near-term profitability or growth sustainability. Additionally, the EV/EBITDA multiple is -0.51, a negative figure that further confirms the company's inability to cover its capital expenditures and operating costs with its earnings. Regarding trading range, the 52-week high is $2.40 and the low is $0.17, meaning the current price sits well below the recent peak but significantly above the trough, reflecting high volatility and potential for both appreciation and depreciation. The beta value of 1.14 indicates that the stock's price volatility is 14% higher than the broader market, suggesting it behaves more like a cyclical or high-risk stock rather than a stable defensive consumer play. These metrics collectively paint a picture of a speculative investment characterized by high price swings and a valuation that relies entirely on future turnaround potential rather than current earnings power.
Growth & Income
The company experienced a revenue growth rate of 17.6% year-over-year, while earnings growth is N/A due to persistent net losses, implying that top-line expansion is not yet translating into bottom-line profitability. As a non-dividend payer, Nocera, Inc. does not distribute a dividend yield, and its payout ratio is 0.0%, meaning the company retains all cash flows to reinvest in its aquaculture projects or seek acquisitions rather than returning value to shareholders. This reinvestment strategy is typical for small-cap growth companies attempting to scale operations, but given the negative free cash flow, the quality of these reinvestments remains a critical question for stakeholders. The overall growth and income profile presents a dichotomy where top-line sales are expanding at a healthy rate, yet the income statement remains deeply negative, creating a high-risk environment where future earnings growth must eventually outpace current revenue growth to unlock shareholder value.