PS International Group Ltd. (PSIG) 10-Year Financial Performance & Capital Metrics

PSIG • • Industrial / General

IndustrialsFreight & LogisticsFreight Forwarding & Logistics ServicesRegional & Domestic Forwarders

AboutPS International Group Ltd., through its subsidiaries, operates as a freight forwarding service provider worldwide. It offers air and ocean export and import freight forwarding services; optional ancillary logistics related services, such as cargo pick up, cargo handling at ports, and local transportation; and warehousing-related services, including repackaging, labelling, palletization, shipping documentation preparation, customs clearance, and warehousing. The company was formerly known as PSI Group Holdings Ltd. The company was founded in 1993 and is headquartered in Kwai Chung, Hong Kong. PSI Group Holdings Ltd operates as a subsidiary of Grand Pro Development Limited.Show more

Revenue $87M -37.7%
EBITDA -$5M -181.9%
Net Income -$5M -558.2%
EPS (Diluted) -1.33 -638.9%
Gross Margin 4.05% -55.5%
EBITDA Margin -5.87% -231.5%
Operating Margin -6.05% -241.6%
Net Margin -5.54% -957.4%
ROE -40.72% -2633.5%
ROIC -159.19% -1661.5%
Debt/Equity 0.01 +142.0%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Share count reduced 9.0% through buybacks
✓Trading at only 1.5x book value
✓Efficient asset utilization: 3.5x turnover

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-12.68%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-234.61%

EPS CAGR

10Y-

5Y-

3Y-

TTM-527%

ROCE

10Y Avg60.46%

5Y Avg60.46%

3Y Avg-11.49%

Latest-44.39%

Peer Comparison

Regional & Domestic Forwarders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NCEWNew Century Logistics (BVI) Limited	21.07M	7.84	89.09	44.64%	0.42%	3.55%	6.81%	0.82
RLGTRadiant Logistics, Inc.	317.95M	6.79	19.40	12.49%	1.64%	6.69%	2.56%	0.37
ELOGEastern International Ltd. Ordinary Shares	17.18M	1.43	9.53	-0.99%	4.45%	16.78%		0.47
ATXGAddentax Group Corp.	4.92M	0.42	-0.49	-18.88%	-115.45%	-16.91%	12.57%	1.03
SGLYSingularity Future Technology Ltd.	5.25M	0.72	-0.68	-42.19%	-7.67%	-6.03%		0.15
BTOCArmlogi Holding Corp. common stock	22.95M	0.51	-1.36	14.03%	-8.72%	-76.89%		5.35
PSIGPS International Group Ltd.	37.34M	4.33	-3.26	-37.75%	-5.54%	-19.36%		0.01

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	71.03M	130.91M	97.31M	140.02M	87.17M
Revenue Growth %	-	0.84%	-0.26%	0.44%	-0.38%
Cost of Goods Sold+	63.56M	112.33M	89.01M	127.27M	83.63M
COGS % of Revenue	0.89%	0.86%	0.91%	0.91%	0.96%
Gross Profit+	7.47M	18.57M	8.3M	12.75M	3.53M
Gross Margin %	0.11%	0.14%	0.09%	0.09%	0.04%
Gross Profit Growth %	-	1.49%	-0.55%	0.54%	-0.72%
Operating Expenses+	3.24M	3.64M	5.36M	6.77M	8.8M
OpEx % of Revenue	0.05%	0.03%	0.06%	0.05%	0.1%
Selling, General & Admin	2.82M	23.28K	824.66K	5.27M	8.75M
SG&A % of Revenue	0.04%	0%	0.01%	0.04%	0.1%
Research & Development	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-
Other Operating Expenses	421.3K	3.62M	4.53M	1.5M	58.94K
Operating Income+	4.23M	14.93M	-824.66K	5.98M	-5.27M
Operating Margin %	0.06%	0.11%	-0.01%	0.04%	-0.06%
Operating Income Growth %	-	2.53%	-1.06%	8.25%	-1.88%
EBITDA+	4.79M	15.51M	-321.66K	6.25M	-5.12M
EBITDA Margin %	0.07%	0.12%	-0%	0.04%	-0.06%
EBITDA Growth %	-	2.24%	-1.02%	20.43%	-1.82%
D&A (Non-Cash Add-back)	556.86K	575.91K	503K	269.76K	155.31K
EBIT	4.52M	15.04M	3.14M	6M	-5.18M
Net Interest Income+	-68.26K	-5.91K	31.08K	77.92K	66.1K
Interest Income	6.34K	16.63K	38.78K	79.21K	66.1K
Interest Expense	74.6K	22.54K	7.7K	1.29K	0
Other Income/Expense	217.46K	84.27K	1.41M	13.02K	94.42K
Pretax Income+	4.45M	15.02M	588.41K	5.99M	-5.18M
Pretax Margin %	0.06%	0.11%	0.01%	0.04%	-0.06%
Income Tax+	721.15K	2.46M	688.35K	1.38M	-358.68K
Effective Tax Rate %	0.83%	0.83%	4.12%	-0.12%	0.93%
Net Income+	3.7M	12.46M	2.43M	-733.31K	-4.83M
Net Margin %	0.05%	0.1%	0.02%	-0.01%	-0.06%
Net Income Growth %	-	2.37%	-0.81%	-1.3%	-5.58%
Net Income (Continuing)	3.73M	12.56M	2.45M	4.61M	-4.82M
Discontinued Operations	0	0	0	0	0
Minority Interest	32.58K	15.19K	83.7K	115.82K	123.52K
EPS (Diluted)+	0.33	-0.00	0.05	-0.18	-1.33
EPS Growth %	-	-1.01%	-	-4.44%	-6.39%
EPS (Basic)	0.33	-0.00	0.05	-0.18	-1.33
Diluted Shares Outstanding	11.25M	11.25M	11.25M	3.98M	3.62M
Basic Shares Outstanding	11.25M	11.25M	11.25M	3.98M	3.62M
Dividend Payout Ratio	-	0.08%	0.05%	-	-

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	28.59M	45.37K	112.18K	35.04M	24.4M
Cash & Short-Term Investments	3.43M	45.37K	44.22K	10.77M	8.16M
Cash Only	3.43M	45.37K	44.22K	10.77M	8.16M
Short-Term Investments	0	0	0	0	0
Accounts Receivable	23.44M	20.18M	14.99M	21.13M	13.97M
Days Sales Outstanding	120.43	56.27	56.23	55.09	58.51
Inventory	645.52K	-20.84M	-14.99M	-38.37K	0
Days Inventory Outstanding	3.71	-	-	-	-
Other Current Assets	1.07M	663.15K	0	3.14M	2.26M
Total Non-Current Assets+	1.26M	276.75K	88.53M	11.32M	257.52K
Property, Plant & Equipment	653.53K	1.05M	512.36K	244.15K	257.52K
Fixed Asset Turnover	108.68x	125.13x	189.92x	573.51x	338.48x
Goodwill	0	0	0	0	0
Intangible Assets	0	0	0	0	0
Long-Term Investments	603.19K	0	88.53M	11.32M	0
Other Non-Current Assets	0	-769.39K	-512.36K	-244.15K	0
Total Assets+	29.84M	322.12K	88.64M	35.29M	24.65M
Asset Turnover	2.38x	406.40x	1.10x	3.97x	3.54x
Asset Growth %	-	-0.99%	274.17%	-0.6%	-0.3%
Total Current Liabilities+	19.72M	320.39K	171.96K	22.36M	13.83M
Accounts Payable	14.96M	20.14M	11.9M	18.65M	11.53M
Days Payables Outstanding	85.92	65.45	48.8	53.48	50.31
Short-Term Debt	3.03M	387.26K	130.93K	47.69K	0
Deferred Revenue (Current)	0	108.97K	6.54K	4.01K	1.52K
Other Current Liabilities	265.21K	-23.93M	-12.92M	2.08M	1.65M
Current Ratio	1.45x	0.14x	0.65x	1.57x	1.76x
Quick Ratio	1.42x	65.20x	87.82x	1.57x	1.76x
Cash Conversion Cycle	38.22	-	-	-	-
Total Non-Current Liabilities+	226.04K	192.92K	64.92K	3.02M	29.38K
Long-Term Debt	0	0	0	0	0
Capital Lease Obligations	226.04K	192.92K	64.92K	17.23K	29.38K
Deferred Tax Liabilities	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	3M	0
Total Liabilities	19.94M	320.39K	3.19M	22.37M	13.86M
Total Debt+	3.37M	1M	310.48K	64.92K	131.32K
Net Debt	-65.76K	957.02K	266.26K	-10.7M	-8.03M
Debt / Equity	0.34x	581.77x	0.00x	0.01x	0.01x
Debt / EBITDA	0.70x	0.06x	-	0.01x	-
Net Debt / EBITDA	-0.01x	0.06x	-	-1.71x	-
Interest Coverage	56.73x	662.48x	-107.11x	4632.76x	-
Total Equity+	9.9M	1.72K	85.53M	12.91M	10.79M
Equity Growth %	-	-1%	49639.6%	-0.85%	-0.16%
Book Value per Share	0.88	0.00	7.60	3.24	2.98
Total Shareholders' Equity	9.87M	7.71M	85.45M	12.8M	10.67M
Common Stock	16	215	88.53M	20	2.6K
Retained Earnings	4.06M	-23.28K	4.35M	4.96M	133.28K
Treasury Stock	0	0	0	0	0
Accumulated OCI	-17.4K	-38.25K	-41.44K	-41.44K	-41.44K
Minority Interest	32.58K	15.19K	83.7K	115.82K	123.52K

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	3.54M	15.57M	951.37K	-869.6K	-1.84M
Operating CF Margin %	0.05%	0.12%	0.01%	-0.01%	-0.02%
Operating CF Growth %	-	3.39%	-0.94%	-1.91%	-1.12%
Net Income	3.73M	12.56M	2.45M	4.61M	-4.82M
Depreciation & Amortization	556.86K	575.91K	503K	269.76K	155.31K
Stock-Based Compensation	0	0	0	0	5.59M
Deferred Taxes	0	0	0	0	0
Other Non-Cash Items	373.38K	263.43K	98.94K	-6.9M	-85.15K
Working Capital Changes	-1.11M	2.18M	-2.1M	1.15M	-2.68M
Change in Receivables	-13.08M	-3.21M	10.03M	-9.09M	7.36M
Change in Inventory	0	0	0	0	0
Change in Payables	12.49M	4.06M	-8.26M	523.24K	-7.12M
Cash from Investing+	-547.91K	-5.28M	-2.95M	77.91M	718.83K
Capital Expenditures	-370.87K	-303.34K	-16.27K	-1.55K	0
CapEx % of Revenue	0.01%	0%	0%	0%	-
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	275.63K	-5.47M	84.16M	78.51M	718.83K
Cash from Financing+	493.89K	-3.65M	-1.18M	-76.97M	-1.5M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	-1.03M	-117.36K	-3.97M	0
Share Repurchases	-	-	-	-	-
Other Financing	0	0	-88.88M	-74.65M	26.67K
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	3.17M	-309.98K	-795.05K	-871.15K	-1.84M
FCF Margin %	0.04%	-0%	-0.01%	-0.01%	-0.02%
FCF Growth %	-	-1.1%	-1.56%	-0.1%	-1.12%
FCF per Share	0.28	-0.03	-0.07	-0.22	-0.51
FCF Conversion (FCF/Net Income)	0.96x	1.25x	0.39x	1.19x	0.38x
Interest Paid	0	22.54K	7.7K	0	0
Taxes Paid	0	1.42M	4.89M	0	361.05K

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	37.36%	251.62%	5.67%	-1.49%	-40.72%
Return on Invested Capital (ROIC)	32.28%	207.58%	-1.43%	10.19%	-159.19%
Gross Margin	10.52%	14.19%	8.53%	9.11%	4.05%
Net Margin	5.21%	9.52%	2.49%	-0.52%	-5.54%
Debt / Equity	0.34x	581.77x	0.00x	0.01x	0.01x
Interest Coverage	56.73x	662.48x	-107.11x	4632.76x	-
FCF Conversion	0.96x	1.25x	0.39x	1.19x	0.38x
Revenue Growth	-	84.31%	-25.67%	43.9%	-37.75%

Revenue by Geography

	2024
UNITED STATES	61.75M
UNITED STATES Growth	-
NETHERLANDS	6.4M
NETHERLANDS Growth	-

Frequently Asked Questions

Growth & Financials

PS International Group Ltd. (PSIG) reported $87.2M in revenue for fiscal year 2024. This represents a 23% increase from $71.0M in 2020.

PS International Group Ltd. (PSIG) saw revenue decline by 37.7% over the past year.

PS International Group Ltd. (PSIG) reported a net loss of $1.1M for fiscal year 2024.

Dividend & Returns

PS International Group Ltd. (PSIG) has a return on equity (ROE) of -40.7%. Negative ROE indicates the company is unprofitable.

PS International Group Ltd. (PSIG) had negative free cash flow of $0.8M in fiscal year 2024, likely due to heavy capital investments.

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