The absence of explicit cash flow disclosures prevents a clear assessment of earnings quality, leaving the sustainability of the 8.46% net margin as a primary unknown.
| Metric | Oct'24 | Oct'23 | Oct'22 |
|---|
| Cash from Operations | -3.04M | -599.95K | -2.15M |
| Operating CF Margin % | -14.18% | -2.28% | -7.62% |
| Operating CF Growth % | -406.45% | 72.06% | - |
| Net Income | 1.88M | 1.98M | 2.55M |
| Depreciation & Amortization | 209.43K | 212.98K | 201.5K |
| Stock-Based Compensation | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 |
| Other Non-Cash Items | 17.06K | -23.42K | 18.85K |
| Working Capital Changes | -5.15M | -2.77M | -4.92M |
| Change in Receivables | 169.11K | 1.9M | -6.09M |
| Change in Inventory | -412.24K | 56.56K | -1.72M |
| Change in Payables | 1.09M | -4.28M | 4.35M |
| Cash from Investing | -18.51K | 736.6K | 933.49K |
| Capital Expenditures | -18.51K | -73.65K | -60.61K |
| CapEx % of Revenue | 0.09% | 0.28% | 0.22% |
| Acquisitions | 0 | 0 | 0 |
| Investments | - | - | - |
| Other Investing | 0 | 810.25K | 994.11K |
| Cash from Financing | 3.1M | -328.18K | 1.24M |
| Debt Issued (Net) | 2.31M | -328.18K | 1.24M |
| Equity Issued (Net) | 787.27K | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 0 |
| Net Change in Cash | 44.09K | -187.81K | -16.75K |
| Free Cash Flow | -3.06M | -673.59K | -2.22M |
| FCF Margin % | -14.26% | -2.57% | -7.88% |
| FCF Growth % | -353.83% | 69.64% | - |
| FCF per Share | -0.18 | -0.04 | -0.13 |
| FCF Conversion (FCF/Net Income) | -1.68x | -0.31x | -0.88x |
| Interest Paid | 151.34K | 69.57K | 56.83K |
| Taxes Paid | 5.6K | 222.03K | 49.21K |
Data unavailability hinders assessment
As the provided financial data lacks explicit cash flow statements, the relationship between net income and operating cash flow remains entirely unobservable, preventing a definitive assessment of earnings quality or the extent of non-cash accruals currently embedded within the company's reported 8.46% net margin.
Investors should monitor future filings for a reconciliation between net income and cash from operations to determine if reported profits are supported by actual cash inflows. The absence of this data makes it impossible to verify if the company's transactional revenue model is effectively converting sales into liquid capital.
Based on the current financial disclosures, there is no available data to calculate free cash flow margins or growth trends, leaving the company's ability to generate self-sustaining cash after capital expenditures a significant unknown for prospective institutional investors evaluating the firm's long-term viability.
Without visibility into capital expenditure requirements, it is unclear whether the firm's proprietary ERP and EMS systems require ongoing, heavy reinvestment that could erode cash reserves. This lack of transparency warrants a cautious approach until management provides a clearer picture of cash generation capabilities.
As reported in available financial statements, the company's capital expenditure profile is not disclosed, making it impossible to distinguish between maintenance spending required to sustain current batch-printing operations and growth-oriented investments aimed at expanding the firm's customized textile manufacturing capacity.
The absence of capex data prevents an analysis of whether the company is adequately replacing its printing hardware or if it is under-investing in its technological infrastructure. Analysts should look for evidence of asset depreciation relative to new capital outlays to gauge the true cost of maintaining the current production moat.
According to the provided data, there is no information regarding inventory turnover, accounts receivable collection cycles, or payables management, which are critical metrics for a customized textile manufacturer operating with thin 18.52% gross margins and high variable costs.
Effective management of working capital is essential for a business model that relies on batch-printing and international shipping. Without these figures, it is impossible to determine if the company is facing liquidity pressure from delayed collections or inefficient inventory build-ups during its current period of revenue contraction.
Quick answers to the most common questions about buying MAMK stock.
MaxsMaking Inc. Class A Ordinary Shares (MAMK) generated $-3.0M in net cash from operating activities in 2024. This reflects the cash generated directly from core business operations.
MaxsMaking Inc. Class A Ordinary Shares (MAMK) reported negative free cash flow of $3.1M in 2024, indicating capital requirements exceeded cash from operations.
MaxsMaking Inc. Class A Ordinary Shares (MAMK) spent $0.0M on capital expenditures in 2024. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.