Linkage Global Inc Ordinary Shares (LGCB) 10-Year Financial Performance & Capital Metrics

LGCB • • Industrial / General

Consumer CyclicalSpecialty RetailE-commerce MarketplacesCross-border E-commerce Services

AboutLinkage Global Inc, through its subsidiaries, operates as a cross-border e-commerce integrated services provider in Japan, Mainland China, and internationally. It provides cross-border product sales; digital marketing services; and e-commerce operation training and software support services. Linkage Global Inc was founded in 2011 and is headquartered in Tokyo, Japan.Show more

Revenue $10M -19.2%
EBITDA $235K +154.2%
Net Income -$439K +32.7%
EPS (Diluted) -0.02 +36.5%
Gross Margin 40.49% +177.1%
EBITDA Margin 2.28% +167.1%
Operating Margin -0.74% +86.4%
Net Margin -4.27% +16.7%
ROE -8.35% +60.1%
ROIC -0.85% +93.5%
Debt/Equity 0.42 -53.7%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.5x book value

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 14 (bottom 14%)
✗Thin 5Y average net margin of 0.1%
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-12.7%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg7.6%

5Y Avg7.6%

3Y Avg4.44%

Latest-1.08%

Peer Comparison

Cross-border E-commerce Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
JFBRJeffs' Brands Ltd	1.77M	0.56	-0.40	36.77%	-49.67%	-163.17%		0.05
BZUNBaozun Inc.	156.94M	2.93	-0.95	6.92%	-2.09%	-3.69%		0.44
LITBLightInTheBox Holding Co., Ltd.	51M	2.79	-9.96	-59.44%	2.48%
LGCBLinkage Global Inc Ordinary Shares	17.07M	1.68	-81.16	-19.19%	-4.27%	-8.35%		0.42
GLBEGlobal-e Online Ltd.	6.5B	38.31	-85.13	32.08%	-3.37%	-3.13%	2.57%	0.03

Profit & Loss

	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Sales/Revenue+	15.47M	22.03M	12.73M	10.29M
Revenue Growth %	-	0.42%	-0.42%	-0.19%
Cost of Goods Sold+	12.93M	18.32M	10.87M	6.12M
COGS % of Revenue	0.84%	0.83%	0.85%	0.6%
Gross Profit+	2.54M	3.7M	1.86M	4.17M
Gross Margin %	0.16%	0.17%	0.15%	0.4%
Gross Profit Growth %	-	0.46%	-0.5%	1.24%
Operating Expenses+	1.66M	2.49M	2.56M	4.24M
OpEx % of Revenue	0.11%	0.11%	0.2%	0.41%
Selling, General & Admin	1.55M	1.86M	1.97M	3.94M
SG&A % of Revenue	0.1%	0.08%	0.15%	0.38%
Research & Development	102.88K	628.35K	588.11K	302.28K
R&D % of Revenue	0.01%	0.03%	0.05%	0.03%
Other Operating Expenses	0	0	0	0
Operating Income+	881K	1.41M	-696.75K	-76.56K
Operating Margin %	0.06%	0.06%	-0.05%	-0.01%
Operating Income Growth %	-	0.6%	-1.49%	0.89%
EBITDA+	914.37K	1.49M	-433.06K	234.81K
EBITDA Margin %	0.06%	0.07%	-0.03%	0.02%
EBITDA Growth %	-	0.63%	-1.29%	1.54%
D&A (Non-Cash Add-back)	33.37K	81.63K	263.69K	311.36K
EBIT	881K	1.22M	-695.44K	-75.85K
Net Interest Income+	-81.88K	-79.45K	-102.36K	44.57K
Interest Income	0	0	0	44.57K
Interest Expense	81.88K	79.45K	102.36K	0
Other Income/Expense	-27.8K	42.6K	-19.93K	226.9K
Pretax Income+	853.21K	1.45M	-716.68K	150.34K
Pretax Margin %	0.06%	0.07%	-0.06%	0.01%
Income Tax+	101.54K	385.96K	-63.95K	589.68K
Effective Tax Rate %	0.88%	0.73%	0.91%	-2.92%
Net Income+	751.67K	1.07M	-652.73K	-439.34K
Net Margin %	0.05%	0.05%	-0.05%	-0.04%
Net Income Growth %	-	0.42%	-1.61%	0.33%
Net Income (Continuing)	751.67K	1.07M	-652.73K	-439.34K
Discontinued Operations	0	0	0	0
Minority Interest	0	0	0	0
EPS (Diluted)+	0.04	0.05	-0.03	-0.02
EPS Growth %	-	0.42%	-1.66%	0.37%
EPS (Basic)	0.04	0.05	-0.03	-0.02
Diluted Shares Outstanding	2.15M	2.15M	2M	2.15M
Basic Shares Outstanding	2.15M	2.15M	2M	2.15M
Dividend Payout Ratio	-	-	-	-

Balance Sheet

	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Total Current Assets+	4.19M	7.12M	8.57M	11.95M
Cash & Short-Term Investments	1.78M	3.69M	1.11M	2M
Cash Only	1.78M	3.69M	1.11M	2M
Short-Term Investments	0	0	0	0
Accounts Receivable	1.41M	2.73M	2.52M	7.11M
Days Sales Outstanding	33.17	45.25	72.33	252.38
Inventory	440.8K	3.07K	679.73K	66.33K
Days Inventory Outstanding	12.44	0.06	22.82	3.95
Other Current Assets	98.93K	699.99K	4.28K	7.07K
Total Non-Current Assets+	3.39M	1.95M	2.06M	739.54K
Property, Plant & Equipment	3.07M	685.67K	783.59K	739.54K
Fixed Asset Turnover	5.04x	32.13x	16.25x	13.91x
Goodwill	0	0	0	0
Intangible Assets	2.22M	1.07M	0	0
Long-Term Investments	179.37K	145.45K	0	0
Other Non-Current Assets	-2.22M	-155.32K	1.13M	0
Total Assets+	7.58M	9.08M	10.63M	12.69M
Asset Turnover	2.04x	2.43x	1.20x	0.81x
Asset Growth %	-	0.2%	0.17%	0.19%
Total Current Liabilities+	2.42M	3.69M	4.7M	4.39M
Accounts Payable	539.26K	518.32K	1.14M	624.72K
Days Payables Outstanding	15.22	10.32	38.36	37.24
Short-Term Debt	847.21K	4.76K	535.23K	1.43M
Deferred Revenue (Current)	147.81K	3.08K	530.49K	533.63K
Other Current Liabilities	65.74K	1.42M	44.58K	9.32K
Current Ratio	1.74x	1.93x	1.82x	2.73x
Quick Ratio	1.55x	1.93x	1.68x	2.71x
Cash Conversion Cycle	30.39	34.99	56.79	219.09
Total Non-Current Liabilities+	3.44M	2.65M	2.44M	1.28M
Long-Term Debt	3.39M	2.65M	2M	839.56K
Capital Lease Obligations	0	0	439.85K	441.5K
Deferred Tax Liabilities	51.24K	0	0	0
Other Non-Current Liabilities	0	0	0	0
Total Liabilities	5.86M	6.34M	7.14M	5.67M
Total Debt+	4.24M	3.34M	3.16M	2.94M
Net Debt	2.46M	-343.35K	2.05M	938.69K
Debt / Equity	2.45x	1.22x	0.90x	0.42x
Debt / EBITDA	4.63x	2.24x	-	12.52x
Net Debt / EBITDA	2.69x	-0.23x	-	4.00x
Interest Coverage	10.76x	17.74x	-6.81x	-
Total Equity+	1.73M	2.73M	3.5M	7.02M
Equity Growth %	-	0.58%	0.28%	1.01%
Book Value per Share	0.80	1.27	1.75	3.27
Total Shareholders' Equity	1.73M	2.73M	3.5M	7.02M
Common Stock	5K	5K	5K	5.38K
Retained Earnings	1.65M	2.72M	2.05M	1.61M
Treasury Stock	0	0	0	0
Accumulated OCI	-48.66K	-106.38K	-110.55K	-185.4K
Minority Interest	0	0	0	0

Cash Flow

	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Cash from Operations+	1.22M	1.17M	-3.88M	-1.64M
Operating CF Margin %	0.08%	0.05%	-0.3%	-0.16%
Operating CF Growth %	-	-0.04%	-4.32%	0.58%
Net Income	6.99K	8.56K	-652.73K	-439.34K
Depreciation & Amortization	310	655	263.69K	311.36K
Stock-Based Compensation	0	0	0	0
Deferred Taxes	-867	646	-160.4K	148.24K
Other Non-Cash Items	757.75K	1.04M	68.53K	743.6K
Working Capital Changes	454.01K	120.72K	-3.4M	-2.4M
Change in Receivables	441.89K	-910.22K	36.74K	-5.02M
Change in Inventory	225.58K	-78.45K	-359.86K	601.54K
Change in Payables	32.82K	-11.7K	624.35K	-517.94K
Cash from Investing+	-3.21M	743.73K	1.83M	-365.43K
Capital Expenditures	-3.07M	-481.39K	-12.14K	0
CapEx % of Revenue	0.2%	0.02%	0%	0%
Acquisitions	-	-	-	-
Investments	-	-	-	-
Other Investing	1.3K	1.31M	0	-410K
Cash from Financing+	2.02M	45.74K	-398.39K	2.88M
Debt Issued (Net)	-	-	-	-
Equity Issued (Net)	-	-	-	-
Dividends Paid	0	0	0	0
Share Repurchases	-	-	-	-
Other Financing	0	0	-1.04M	-624.29K
Net Change in Cash	-	-	-	-
Free Cash Flow+	-1.85M	687.54K	-3.9M	-1.64M
FCF Margin %	-0.12%	0.03%	-0.31%	-0.16%
FCF Growth %	-	1.37%	-6.67%	0.58%
FCF per Share	-0.86	0.32	-1.95	-0.76
FCF Conversion (FCF/Net Income)	1.62x	1.10x	5.95x	3.72x
Interest Paid	46.52K	57.78K	65.9K	48.61K
Taxes Paid	2.94K	33.29K	150.12K	2.05K

Key Ratios

Metric	2021	2022	2023	2024
Return on Equity (ROE)	43.55%	47.81%	-20.95%	-8.35%
Return on Invested Capital (ROIC)	15.8%	32.16%	-13.16%	-0.85%
Gross Margin	16.4%	16.82%	14.61%	40.49%
Net Margin	4.86%	4.84%	-5.13%	-4.27%
Debt / Equity	2.45x	1.22x	0.90x	0.42x
Interest Coverage	10.76x	17.74x	-6.81x	-
FCF Conversion	1.62x	1.10x	5.95x	3.72x
Revenue Growth	-	42.42%	-42.2%	-19.19%

Revenue by Segment

	2023	2024
Others Member	619.04K	220.56K
Others Member Growth	-	-64.37%

Frequently Asked Questions

Growth & Financials

Linkage Global Inc Ordinary Shares (LGCB) reported $10.3M in revenue for fiscal year 2024. This represents a 33% decrease from $15.5M in 2021.

Linkage Global Inc Ordinary Shares (LGCB) saw revenue decline by 19.2% over the past year.

Linkage Global Inc Ordinary Shares (LGCB) reported a net loss of $0.4M for fiscal year 2024.

Dividend & Returns

Linkage Global Inc Ordinary Shares (LGCB) has a return on equity (ROE) of -8.4%. Negative ROE indicates the company is unprofitable.

Linkage Global Inc Ordinary Shares (LGCB) had negative free cash flow of $1.6M in fiscal year 2024, likely due to heavy capital investments.

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