Liquidity remains a primary concern, with a meager $846,409 cash position relative to $40 million in annual revenue, indicating limited capacity for capital deployment.
| Metric | Mar'25 | Mar'24 | Mar'23 | Mar'22 |
|---|
| Cash from Operations | -2.16M | -629.76K | -500.1K | 1.61M |
| Operating CF Margin % | -5.39% | -1.56% | -2.07% | 6.09% |
| Operating CF Growth % | -242.78% | -25.93% | -130.97% | - |
| Net Income | 1.78M | 1.08M | 1.19M | -935.78K |
| Depreciation & Amortization | 88.72K | 115.15K | 468.26K | 360.54K |
| Stock-Based Compensation | 0 | 0 | 0 | 0 |
| Deferred Taxes | -2.93K | -7.43K | 115.17K | -128.25K |
| Other Non-Cash Items | 37.53K | 95.71K | -209.35K | 26.44K |
| Working Capital Changes | -4.06M | -1.92M | -2.06M | 2.29M |
| Change in Receivables | -1.75M | -3.75M | -2.63M | 13.15M |
| Change in Inventory | 0 | 0 | 0 | 0 |
| Change in Payables | -220.78K | 1.57M | 774.44K | -10.04M |
| Cash from Investing | -337.78K | 44.25K | 1.07M | -1.05M |
| Capital Expenditures | -397.44K | -7.43K | -12.73K | -125.63K |
| CapEx % of Revenue | 0.99% | 0.02% | 0.05% | 0.47% |
| Acquisitions | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - |
| Other Investing | 59.66K | 51.68K | 203.52K | 3.49K |
| Cash from Financing | 1.18M | 1.85M | -991.34K | -754.44K |
| Debt Issued (Net) | 1.6M | 1.58M | -927.6K | -411.79K |
| Equity Issued (Net) | 0 | 834K | 0 | 100.28K |
| Dividends Paid | 0 | 0 | 0 | -123.97K |
| Share Repurchases | 0 | 0 | 0 | 0 |
| Other Financing | -419.47K | -563.59K | -63.74K | -318.97K |
| Net Change in Cash | -1.32M | 1.21M | -533.04K | -140.41K |
| Free Cash Flow | -2.56M | -637.19K | -512.83K | 1.49M |
| FCF Margin % | -6.38% | -1.58% | -2.12% | 5.62% |
| FCF Growth % | -301.16% | -24.25% | -134.44% | - |
| FCF per Share | -0.21 | -0.05 | -0.04 | 0.12 |
| FCF Conversion (FCF/Net Income) | -1.21x | -0.58x | -0.42x | -1.73x |
| Interest Paid | 143.6K | 97.55K | 22.13K | 129.61K |
| Taxes Paid | 324.31K | 176.89K | 117.17K | 255.46K |
Liquidity and regional concentration
Given the absence of reported cash flow statements, the relationship between net income and operating cash flow remains opaque, preventing a definitive assessment of earnings quality for ELOG based on the provided financial data.
The lack of granular cash flow data makes it impossible to determine if reported net income is supported by actual cash inflows or if it is heavily reliant on non-cash accruals. Investors should monitor future filings for a potential divergence between accounting profits and cash generation, which is a common risk factor for firms in the logistics sector.
As reported in financial statements, the company's $846,409 cash position relative to $40M in annual revenue suggests that working capital management is a critical, yet currently unobservable, driver of the firm's overall liquidity profile.
Without visibility into accounts receivable aging or inventory turnover, it is difficult to assess whether the company is effectively converting its project-based revenue into cash. The thin cash buffer implies that any delay in client payments could create immediate pressure on the firm's ability to meet short-term operational obligations.
Based on the company's reported figures, the minimal cash reserves suggest that ELOG lacks the financial flexibility to pursue significant capital deployment strategies, such as aggressive share repurchases or strategic acquisitions, in the current economic environment.
The company's conservative debt-to-equity ratio appears to be a necessity rather than a choice, given the limited cash available for reinvestment. This lack of dry powder may hinder the firm's ability to upgrade its specialized logistics equipment, potentially weakening its competitive position in the Suzhou Industrial Park.
According to recent SEC filings, the reliance on a Cayman Islands holding structure for Chinese operations may obscure the actual flow of funds, making it difficult for investors to ascertain the true cash-generating capacity of the underlying business.
The potential for related-party transactions and the use of percentage-of-completion accounting for project logistics warrant further investigation into whether reported earnings accurately reflect cash reality. Investors should remain cautious until more transparent cash flow disclosures are provided to reconcile the firm's income statement with its actual liquidity position.
Quick answers to the most common questions about buying ELOG stock.
Eastern International Ltd. Ordinary Shares (ELOG) generated $-2.2M in net cash from operating activities in 2024. This reflects the cash generated directly from core business operations.
Eastern International Ltd. Ordinary Shares (ELOG) reported negative free cash flow of $2.6M in 2024, indicating capital requirements exceeded cash from operations.
Eastern International Ltd. Ordinary Shares (ELOG) spent $0.4M on capital expenditures in 2024. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.