Galaxy Payroll Group Limited (GLXG) 10-Year Financial Performance & Capital Metrics

GLXG • • Industrial / General

IndustrialsStaffing & HRHuman Capital Management & PEO ServicesComprehensive HCM & PEO Providers

AboutGalaxy Payroll Group Limited, through its subsidiaries, provides payroll outsourcing, employment, and consultancy and market research services. It has operations in Hong Kong, Macau, the People's Republic of China, Taiwan, Japan, Australia, Thailand, Malaysia, Vietnam, India, Indonesia, and the Philippines. The company was founded in 2013 and is based in Sheung Wan, Hong Kong.Show more

Revenue $30M -4.3%
EBITDA $8M -28.7%
Net Income $6M -38.9%
EPS (Diluted) 3.32 -34.9%
Gross Margin 53.69% -8.5%
EBITDA Margin 27.43% -25.6%
Operating Margin 23.32% -29.1%
Net Margin 18.28% -36.2%
ROE 65.48% -7.2%
ROIC -
Debt/Equity 0.36 +27.4%
Interest Coverage 202.59 +141.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 112.9%
✓FCF machine: 22.1% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 6.6% through buybacks
✓Healthy 5Y average net margin of 30.7%
✓Trading at only 0.4x book value

✗Weaknesses

✗Weak momentum: RS Rating 2 (bottom 2%)
✗Dividend payout exceeds 100% of earnings
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-4.68%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-17.18%

TTM-

EPS CAGR

10Y-

5Y-

3Y-15.28%

TTM-

ROCE

10Y Avg116.82%

5Y Avg116.82%

3Y Avg118.95%

Latest77.77%

Peer Comparison

Comprehensive HCM & PEO Providers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ADPAutomatic Data Processing, Inc.	103.97B	257.07	25.76	7.07%	19.79%	64.9%	4.59%	1.46
PAYXPaychex, Inc.	39.36B	109.66	23.94	5.56%	26.45%	41.13%	4.47%	1.22
BBSIBarrett Business Services, Inc.	993.98M	38.79	19.59	7.03%	4.48%	22.84%		0.10
NSPInsperity, Inc.	1.69B	44.74	18.72	1.46%	0.25%	19.54%	28.57%	4.48
TNETTriNet Group, Inc.	2.96B	61.53	17.94	2.66%	2.61%	120.91%	6.8%	14.81
GLXGGalaxy Payroll Group Limited	2.97M	1.65	0.50	-4.26%	9.7%	3.66%	100%	0.36

Profit & Loss

	Jun 2021	Jun 2022	Jun 2023	Jun 2024
Sales/Revenue+	34.79M	46.92M	31.47M	30.12M
Revenue Growth %	-	0.35%	-0.33%	-0.04%
Cost of Goods Sold+	11.48M	11.7M	13M	13.95M
COGS % of Revenue	0.33%	0.25%	0.41%	0.46%
Gross Profit+	23.31M	35.22M	18.47M	16.17M
Gross Margin %	0.67%	0.75%	0.59%	0.54%
Gross Profit Growth %	-	0.51%	-0.48%	-0.12%
Operating Expenses+	11.45M	8.14M	8.12M	9.15M
OpEx % of Revenue	0.33%	0.17%	0.26%	0.3%
Selling, General & Admin	11.45M	7.77M	7.81M	8.64M
SG&A % of Revenue	0.33%	0.17%	0.25%	0.29%
Research & Development	0	0	0	0
R&D % of Revenue	-	-	-	-
Other Operating Expenses	0	373.57K	310.31K	513.71K
Operating Income+	11.86M	27.08M	10.35M	7.02M
Operating Margin %	0.34%	0.58%	0.33%	0.23%
Operating Income Growth %	-	1.28%	-0.62%	-0.32%
EBITDA+	13.16M	28.41M	11.6M	8.26M
EBITDA Margin %	0.38%	0.61%	0.37%	0.27%
EBITDA Growth %	-	1.16%	-0.59%	-0.29%
D&A (Non-Cash Add-back)	1.3M	1.33M	1.25M	1.24M
EBIT	12.55M	27.49M	10.94M	7.32M
Net Interest Income+	-223.81K	-425.32K	-154.09K	-114.86K
Interest Income	9.86K	84	3.03K	3.63K
Interest Expense	233.67K	238.74K	123.27K	34.67K
Other Income/Expense	454.34K	178.09K	466.09K	264.81K
Pretax Income+	12.31M	27.25M	10.82M	7.29M
Pretax Margin %	0.35%	0.58%	0.34%	0.24%
Income Tax+	2.62M	4.7M	1.81M	1.78M
Effective Tax Rate %	0.79%	0.83%	0.83%	0.76%
Net Income+	9.69M	22.56M	9.01M	5.51M
Net Margin %	0.28%	0.48%	0.29%	0.18%
Net Income Growth %	-	1.33%	-0.6%	-0.39%
Net Income (Continuing)	9.69M	22.56M	9.01M	5.51M
Discontinued Operations	0	0	0	0
Minority Interest	0	0	0	0
EPS (Diluted)+	5.46	12.70	5.10	3.32
EPS Growth %	-	1.33%	-0.6%	-0.35%
EPS (Basic)	5.97	13.90	5.55	3.32
Diluted Shares Outstanding	1.77M	1.77M	1.77M	1.66M
Basic Shares Outstanding	1.62M	1.62M	1.62M	1.66M
Dividend Payout Ratio	0.15%	0.84%	1.1%	1.72%

Balance Sheet

	Jun 2021	Jun 2022	Jun 2023	Jun 2024
Total Current Assets+	34.81M	26.63M	24.15M	16.2M
Cash & Short-Term Investments	27M	12.97M	16.44M	10.86M
Cash Only	27M	12.97M	16.44M	10.86M
Short-Term Investments	0	0	0	0
Accounts Receivable	3.93M	10.77M	3.71M	3.31M
Days Sales Outstanding	41.26	83.77	43.06	40.1
Inventory	0	0	0	0
Days Inventory Outstanding	-	-	-	-
Other Current Assets	1M	1M	1.01M	0
Total Non-Current Assets+	2.33M	6.13M	6.12M	10.39M
Property, Plant & Equipment	2.33M	2.47M	1.19M	2.54M
Fixed Asset Turnover	14.94x	19.03x	26.48x	11.87x
Goodwill	0	0	0	0
Intangible Assets	0	0	0	0
Long-Term Investments	0	0	1.28K	0
Other Non-Current Assets	0	3.66M	4.93M	7.85M
Total Assets+	37.14M	32.76M	30.28M	26.59M
Asset Turnover	0.94x	1.43x	1.04x	1.13x
Asset Growth %	-	-0.12%	-0.08%	-0.12%
Total Current Liabilities+	26.4M	16.57M	19.94M	18.86M
Accounts Payable	124.59K	105.09K	66.08K	41.82K
Days Payables Outstanding	3.96	3.28	1.86	1.09
Short-Term Debt	3.97M	2.93M	2M	17.97K
Deferred Revenue (Current)	1000K	1000K	1000K	1000K
Other Current Liabilities	0	0	0	-17.97K
Current Ratio	1.32x	1.61x	1.21x	0.86x
Quick Ratio	1.32x	1.61x	1.21x	0.86x
Cash Conversion Cycle	-	-	-	-
Total Non-Current Liabilities+	3.68M	990.96K	0	1.25M
Long-Term Debt	2.93M	0	0	0
Capital Lease Obligations	744.82K	990.96K	0	1.25M
Deferred Tax Liabilities	0	0	0	0
Other Non-Current Liabilities	0	0	0	0
Total Liabilities	30.07M	17.56M	19.94M	20.11M
Total Debt+	8.69M	5.04M	2.96M	2.36M
Net Debt	-18.31M	-7.93M	-13.48M	-8.49M
Debt / Equity	1.23x	0.33x	0.29x	0.36x
Debt / EBITDA	0.66x	0.18x	0.26x	0.29x
Net Debt / EBITDA	-1.39x	-0.28x	-1.16x	-1.03x
Interest Coverage	50.75x	113.41x	83.96x	202.59x
Total Equity+	7.06M	15.2M	10.34M	6.48M
Equity Growth %	-	1.15%	-0.32%	-0.37%
Book Value per Share	3.98	8.56	5.83	3.91
Total Shareholders' Equity	7.06M	15.2M	10.34M	6.48M
Common Stock	77.63K	77.63K	77.63K	77.63K
Retained Earnings	6.92M	15.07M	10.26M	6.38M
Treasury Stock	0	0	0	0
Accumulated OCI	98.84K	86.73K	41.15K	54.35K
Minority Interest	0	0	0	0

Cash Flow

	Jun 2021	Jun 2022	Jun 2023	Jun 2024
Cash from Operations+	7.2M	12M	16.09M	6.73M
Operating CF Margin %	0.21%	0.26%	0.51%	0.22%
Operating CF Growth %	-	0.67%	0.34%	-0.58%
Net Income	9.69M	22.56M	9.01M	5.51M
Depreciation & Amortization	1.3M	1.33M	1.25M	1.24M
Stock-Based Compensation	0	0	0	0
Deferred Taxes	0	0	0	0
Other Non-Cash Items	0	5.25K	-61.36K	101.6K
Working Capital Changes	-3.79M	-11.9M	5.89M	-120.35K
Change in Receivables	971.48K	-5.6M	6.85M	-407.38K
Change in Inventory	0	0	0	0
Change in Payables	-7.43K	-19.5K	-39.02K	-24.25K
Cash from Investing+	-361.29K	0	-25.3K	-59.45K
Capital Expenditures	-361.29K	0	-25.3K	-59.45K
CapEx % of Revenue	0.01%	0%	0%	0%
Acquisitions	-	-	-	-
Investments	-	-	-	-
Other Investing	0	0	0	0
Cash from Financing+	769.39K	-26.05M	-12.59M	-13.29M
Debt Issued (Net)	-	-	-	-
Equity Issued (Net)	-	-	-	-
Dividends Paid	-1.5M	-18.92M	-9.88M	-9.46M
Share Repurchases	-	-	-	-
Other Financing	0	-3.11M	-1.75M	-1.79M
Net Change in Cash	-	-	-	-
Free Cash Flow+	6.83M	12M	16.06M	6.67M
FCF Margin %	0.2%	0.26%	0.51%	0.22%
FCF Growth %	-	0.76%	0.34%	-0.58%
FCF per Share	3.85	6.76	9.05	4.02
FCF Conversion (FCF/Net Income)	0.74x	0.53x	1.79x	1.22x
Interest Paid	233.67K	238.74K	123.27K	34.67K
Taxes Paid	5M	3.62M	1.71M	2.13M

Key Ratios

Metric	2021	2022	2023	2024
Return on Equity (ROE)	137.24%	202.65%	70.56%	65.48%
Return on Invested Capital (ROIC)	-	279.47%	375.8%	-
Gross Margin	67.01%	75.07%	58.69%	53.69%
Net Margin	27.86%	48.08%	28.64%	18.28%
Debt / Equity	1.23x	0.33x	0.29x	0.36x
Interest Coverage	50.75x	113.41x	83.96x	202.59x
FCF Conversion	0.74x	0.53x	1.79x	1.22x
Revenue Growth	-	34.86%	-32.93%	-4.26%

Revenue by Geography

	2024
TAIWAN	4.16M
TAIWAN Growth	-
HONG KONG	874.77K
HONG KONG Growth	-
MACAO	459.94K
MACAO Growth	-
THAILAND	112.9K
THAILAND Growth	-
INDIA	98.29K
INDIA Growth	-
SINGAPORE	65.66K
SINGAPORE Growth	-
AUSTRIA	43.76K
AUSTRIA Growth	-
VIET NAM	43.1K
VIET NAM Growth	-
PHILIPPINES	33.1K
PHILIPPINES Growth	-
INDONESIA	28.44K
INDONESIA Growth	-
KOREA, REPUBLIC OF	25.84K
KOREA, REPUBLIC OF Growth	-
JAPAN	7.77K
JAPAN Growth	-

Frequently Asked Questions

Valuation & Price

Galaxy Payroll Group Limited (GLXG) has a price-to-earnings (P/E) ratio of 0.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Galaxy Payroll Group Limited (GLXG) reported $2.4M in revenue for fiscal year 2024. This represents a 93% decrease from $34.8M in 2021.

Galaxy Payroll Group Limited (GLXG) saw revenue decline by 4.3% over the past year.

Yes, Galaxy Payroll Group Limited (GLXG) is profitable, generating $0.2M in net income for fiscal year 2024 (18.3% net margin).

Dividend & Returns

Yes, Galaxy Payroll Group Limited (GLXG) pays a dividend with a yield of 100.00%. This makes it attractive for income-focused investors.

Galaxy Payroll Group Limited (GLXG) has a return on equity (ROE) of 65.5%. This is excellent, indicating efficient use of shareholder capital.

Galaxy Payroll Group Limited (GLXG) generated $0.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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