INNEOVA Holdings Ltd (INEO) 10-Year Financial Performance & Capital Metrics

INEO • • Industrial / General

Consumer CyclicalAuto Parts & EquipmentAftermarket Parts & RetailReplacement Parts Manufacturers

AboutINNEOVA Holdings Ltd operates as a holding company. The Company, through its subsidiaries, manufactures replacement parts for motor vehicles and non-vehicle combustion engines serving a number of industries. INNEOVA Holdings serves marine, energy, mining, agriculture, and oil and gas construction sectors worldwideShow more

Revenue $58M -2.0%
EBITDA $1M -54.8%
Net Income $8K -99.5%
EPS (Diluted) 0.00 -99.5%
Gross Margin 18.73% +2.2%
EBITDA Margin 2.33% -53.8%
Operating Margin 1.34% -68.4%
Net Margin 0.01% -99.5%
ROE 0.13% -99.8%
ROIC 2.47% -74.8%
Debt/Equity 2.30 -60.4%
Interest Coverage 0.63 -74.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 60.2%
✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.6x book value
✓Efficient asset utilization: 1.5x turnover

✗Weaknesses

✗High debt to equity ratio of 2.3x
✗Weak momentum: RS Rating 8 (bottom 8%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y10.51%

TTM24.49%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-82%

TTM-42.49%

EPS CAGR

10Y-

5Y-

3Y-81.83%

TTM-40.74%

ROCE

10Y Avg25.92%

5Y Avg25.92%

3Y Avg38%

Latest10.06%

Peer Comparison

Replacement Parts Manufacturers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
INEOINNEOVA Holdings Ltd	9.76M	0.59	655.56	-2%	1.38%	18.29%	19.39%	2.30
GTThe Goodyear Tire & Rubber Company	2.67B	9.32	38.83	-5.92%	-9.56%	-55.07%		1.79
XPELXPEL, Inc.	1.5B	54.30	32.91	6.08%	10.12%	17.06%	2.74%	0.09
DORMDorman Products, Inc.	3.94B	128.79	20.98	4.11%	11.62%	16.67%	4.87%	0.44
SMPStandard Motor Products, Inc.	882.61M	40.12	16.64	7.77%	3.95%	9.98%	3.7%	1.05
MPAAMotorcar Parts of America, Inc.	265.99M	13.60	-13.74	5.53%	0.31%	0.95%	15.38%	0.78

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	48.94M	43.22M	51.45M	59.52M	58.33M
Revenue Growth %	-	-0.12%	0.19%	0.16%	-0.02%
Cost of Goods Sold+	41.19M	35.27M	42.16M	48.61M	47.41M
COGS % of Revenue	0.84%	0.82%	0.82%	0.82%	0.81%
Gross Profit+	7.75M	7.95M	9.28M	10.91M	10.93M
Gross Margin %	0.16%	0.18%	0.18%	0.18%	0.19%
Gross Profit Growth %	-	0.03%	0.17%	0.18%	0%
Operating Expenses+	6.75M	6.85M	7.67M	8.38M	10.14M
OpEx % of Revenue	0.14%	0.16%	0.15%	0.14%	0.17%
Selling, General & Admin	6.75M	6.61M	7.41M	7.91M	9.57M
SG&A % of Revenue	0.14%	0.15%	0.14%	0.13%	0.16%
Research & Development	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-
Other Operating Expenses	0	239K	256K	470K	573K
Operating Income+	1M	1.1M	1.61M	2.53M	784K
Operating Margin %	0.02%	0.03%	0.03%	0.04%	0.01%
Operating Income Growth %	-	0.1%	0.46%	0.57%	-0.69%
EBITDA+	1.53M	1.34M	1.87M	3M	1.36M
EBITDA Margin %	0.03%	0.03%	0.04%	0.05%	0.02%
EBITDA Growth %	-	-0.12%	0.39%	0.61%	-0.55%
D&A (Non-Cash Add-back)	523K	238K	256K	471K	573K
EBIT	1.87M	1.92M	2.49M	2.94M	1.37M
Net Interest Income+	-767K	-539K	-632K	-1.03M	-1.24M
Interest Income	6K	1K	2K	2K	10K
Interest Expense	773K	540K	634K	1.03M	1.25M
Other Income/Expense	96K	275K	242K	-624K	-667K
Pretax Income+	1.1M	1.38M	1.85M	1.9M	117K
Pretax Margin %	0.02%	0.03%	0.04%	0.03%	0%
Income Tax+	127K	8K	325K	275K	109K
Effective Tax Rate %	0.88%	0.99%	0.78%	0.81%	0.07%
Net Income+	972K	1.37M	1.45M	1.55M	8K
Net Margin %	0.02%	0.03%	0.03%	0.03%	0%
Net Income Growth %	-	0.41%	0.06%	0.07%	-0.99%
Net Income (Continuing)	972K	1.37M	1.53M	1.63M	8K
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	77K	160K	0
EPS (Diluted)+	0.10	0.15	0.17	0.17	0.00
EPS Growth %	-	0.5%	0.13%	0%	-0.99%
EPS (Basic)	0.10	0.14	0.17	0.17	0.00
Diluted Shares Outstanding	9.38M	9.38M	8.63M	9M	9M
Basic Shares Outstanding	9.38M	9.51M	8.63M	9M	9M
Dividend Payout Ratio	-	-	-	-	-

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	39.5M	33.98M	39.63M	37.6M	36.78M
Cash & Short-Term Investments	2.35M	1.09M	919K	3.73M	1.75M
Cash Only	2.35M	1.09M	919K	690K	1.75M
Short-Term Investments	0	0	0	3.04M	0
Accounts Receivable	21.57M	17.26M	19.56M	14.55M	16.63M
Days Sales Outstanding	160.89	145.75	138.81	89.22	104.08
Inventory	15.41M	15.27M	18.78M	18.96M	18.1M
Days Inventory Outstanding	136.59	157.99	162.57	142.36	139.38
Other Current Assets	-1.94M	-1.94M	-3.02M	360K	298K
Total Non-Current Assets+	829K	430K	702K	1.46M	2.81M
Property, Plant & Equipment	620K	430K	702K	1.46M	1.69M
Fixed Asset Turnover	78.93x	100.51x	73.28x	40.82x	34.56x
Goodwill	0	0	0	0	0
Intangible Assets	0	0	0	0	0
Long-Term Investments	0	0	0	0	0
Other Non-Current Assets	209K	0	0	0	1.12M
Total Assets+	40.33M	34.41M	40.33M	39.06M	39.59M
Asset Turnover	1.21x	1.26x	1.28x	1.52x	1.47x
Asset Growth %	-	-0.15%	0.17%	-0.03%	0.01%
Total Current Liabilities+	22.56M	30.01M	36.9M	34.45M	28.61M
Accounts Payable	2.67M	2.5M	5M	4.73M	4.63M
Days Payables Outstanding	23.7	25.92	43.24	35.49	35.65
Short-Term Debt	15.99M	12.47M	15.86M	15.79M	17.97M
Deferred Revenue (Current)	1000K	1000K	1000K	0	1000K
Other Current Liabilities	0	0	0	13.13M	0
Current Ratio	1.75x	1.13x	1.07x	1.09x	1.29x
Quick Ratio	1.07x	0.62x	0.57x	0.54x	0.65x
Cash Conversion Cycle	273.79	277.82	258.14	196.09	207.8
Total Non-Current Liabilities+	3.94M	3.12M	2.09M	1.55M	2.1M
Long-Term Debt	3.55M	2.82M	1.81M	991K	1.89M
Capital Lease Obligations	351K	260K	242K	525K	180K
Deferred Tax Liabilities	39K	38K	38K	0	38K
Other Non-Current Liabilities	0	0	0	39K	0
Total Liabilities	26.5M	33.13M	38.98M	36.01M	30.72M
Total Debt+	20.04M	15.66M	18.11M	17.72M	20.4M
Net Debt	17.69M	14.57M	17.19M	17.03M	18.65M
Debt / Equity	1.45x	12.18x	13.41x	5.81x	2.30x
Debt / EBITDA	13.13x	11.66x	9.71x	5.91x	15.03x
Net Debt / EBITDA	11.59x	10.85x	9.21x	5.68x	13.75x
Interest Coverage	1.30x	2.05x	2.54x	2.45x	0.63x
Total Equity+	13.83M	1.29M	1.35M	3.05M	8.88M
Equity Growth %	-	-0.91%	0.05%	1.26%	1.91%
Book Value per Share	1.48	0.14	0.16	0.34	0.99
Total Shareholders' Equity	13.83M	1.29M	1.27M	2.89M	8.88M
Common Stock	9K	9K	5K	5K	5K
Retained Earnings	12.36M	130K	100K	1.65M	1.81M
Treasury Stock	0	0	0	0	0
Accumulated OCI	220K	-90K	-72K	-4K	-127K
Minority Interest	0	0	77K	160K	0

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	3.02M	3.12M	-2.06M	1.61M	2.67M
Operating CF Margin %	0.06%	0.07%	-0.04%	0.03%	0.05%
Operating CF Growth %	-	0.03%	-1.66%	1.79%	0.65%
Net Income	972K	1.37M	1.53M	1.63M	8K
Depreciation & Amortization	523K	238K	256K	471K	573K
Stock-Based Compensation	0	0	0	0	0
Deferred Taxes	0	0	0	0	0
Other Non-Cash Items	191K	28K	244K	482K	918K
Working Capital Changes	1.34M	1.49M	-4.08M	-968K	1.17M
Change in Receivables	3.6M	1.72M	-4.1M	1.7M	-691K
Change in Inventory	-949K	126K	-3.52M	-5K	844K
Change in Payables	589K	-169K	3.12M	0	0
Cash from Investing+	-222K	-30K	-283K	-455K	-774K
Capital Expenditures	-230K	-32K	-283K	-455K	-774K
CapEx % of Revenue	0%	0%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	8K	2K	0	0	0
Cash from Financing+	-2.25M	-4.06M	2.14M	-1.55M	-568K
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	0	0	0	0
Share Repurchases	-	-	-	-	-
Other Financing	206K	312K	0	0	-9.19M
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	2.79M	3.09M	-2.34M	1.16M	1.89M
FCF Margin %	0.06%	0.07%	-0.05%	0.02%	0.03%
FCF Growth %	-	0.11%	-1.76%	1.5%	0.63%
FCF per Share	0.30	0.33	-0.27	0.13	0.21
FCF Conversion (FCF/Net Income)	3.11x	2.28x	-1.42x	1.04x	333.38x
Interest Paid	773K	540K	634K	1.03M	1.25M
Taxes Paid	44K	30K	57K	375K	337K

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	7.03%	18.15%	109.97%	70.42%	0.13%
Return on Invested Capital (ROIC)	2.39%	3.5%	7.02%	9.82%	2.47%
Gross Margin	15.83%	18.4%	18.04%	18.33%	18.73%
Net Margin	1.99%	3.17%	2.82%	2.6%	0.01%
Debt / Equity	1.45x	12.18x	13.41x	5.81x	2.30x
Interest Coverage	1.30x	2.05x	2.54x	2.45x	0.63x
FCF Conversion	3.11x	2.28x	-1.42x	1.04x	333.38x
Revenue Growth	-	-11.68%	19.03%	15.7%	-2%

Revenue by Segment

	2024
Service	87K
Service Growth	-

Frequently Asked Questions

Growth & Financials

INNEOVA Holdings Ltd (INEO) reported $117.9M in revenue for fiscal year 2024. This represents a 141% increase from $48.9M in 2020.

INNEOVA Holdings Ltd (INEO) saw revenue decline by 2.0% over the past year.

Yes, INNEOVA Holdings Ltd (INEO) is profitable, generating $1.6M in net income for fiscal year 2024 (0.0% net margin).

Dividend & Returns

INNEOVA Holdings Ltd (INEO) has a return on equity (ROE) of 0.1%. This is below average, suggesting room for improvement.

INNEOVA Holdings Ltd (INEO) generated $3.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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