Armax Gaz SA

ARAX

Armax Gaz SA manufactures and sells equipment and devices for the gas and oil industry in Romania.Its products include gas dehydration stations; regulating metering stations; natural gas filters and s...

Website | Oil and Gas Field Machinery and Equipment | Energy

Automated Financial Analysis

🤵

Financial Advisor Insight

"The stock appears significantly undervalued compared to its earnings potential. Momentum is currently negative, indicating caution for short-term entries."

Sentiment: Neutral Action: Hold

"Financial analysis reveals potential risks regarding growth or leverage that warrant caution."

Liquidity concern (Current Ratio < 1).
Undervalued based on PE (Current: 7.0 vs Fair: 15).
Significantly Undervalued (Trading 60% below Graham Number).
Bearish Trend (SMA50 < SMA200).
Stochastic indicates overbought conditions.

Technical Analysis

Trend Bearish (Long Term)
RSI (14) 53.3
SMA 50 1.69
SMA 200 1.77

Price Valuation

Current Price 1.78
Fair Value (PE 15) 3.83
Undervalued 115%
Graham Number 2.85
Upside 60%

Forecast

Rev Forecast (Next Yr) 31M
Growth Forecast -0.6%

📊 Market & Peer Context

Benchmark: BET
Volatility (Beta)
-0.31
Less Volatile than Market
Correlation
-0.03
Moves with Market
Relative Strength (1Y)
-61.77%
vs Benchmark
Index Returns (1Y)
68.1%
BET

Historical Performance

Metric 5Y 3Y 1Y YTD 6M 3M 1M 1W
ARAX - - 5.3% -0.6% 2.3% 0.0% 0.0% 0.0%
BET - 131.5% 68.1% 17.4% 28.6% 9.1% 2.4% 0.2%
Alpha (Diff) - - -62.8% -18.0% -26.3% -9.1% -2.4% -0.2%

Financial Reports

Price Chart

Sector: Energy

Based on Market Cap
LEADER
SNP
OMV Petrom S.A.
64,804M
H2O
S.P.E.E.H. Hidroelectrica S.A.
62,073M
SNG
SNGN Romgaz SA
44,863M
SNN
S.N. Nuclearelectrica S.A.
22,110M
PE
Premier Energy PLC
4,062M
RRC
Rompetrol Rafinare S.A.
1,955M
PTR
Rompetrol Well Services SA
166M
MAMA
S.C. Magazin Universal Maramures S.A.
33M
ARAX
Armax Gaz SA
11M
ENP
SC Compania Energopetrol SA
1M

ETAPA 1 • MUST HAVE

6/8
Healthy Leverage (Debt/Equity)
0.00
Target: < 1.5
Gross Margin vs Industry
0.0% vs 0.0%
Target: > 0.0%
Operating Cash Flow vs Profit
0%
Target: > 1.0
Free Cash Flow vs Profit
0%
Target: > 0.8
ROIC (Return on Capital)
13.54%
Target: Positive
ROIC vs WACC
ROIC: 13.5% / WACC: 2.1%
Target: > WACC
ROE (Return on Equity)
19.9%
Target: > 10%
EBITDA Positive
3.21M
Target: > 0

ETAPA 2 • CRITERII

3/9
Interest Coverage
Target: > 3x • 0.0x
Miss
Net Margin vs Industry
Target: > 0.0% • 7.1%
Passed
ROA vs Industry
Target: > 7.9% • 1.9%
Miss
Current Ratio
Target: > 1.5 • 0.86
Miss
Assets Growth (5y)
Target: > 0% • 24.2% CAGR
Passed
FCF CAGR (5y)
Target: > 5% • 0.0%
Miss
EV/EBITDA vs Industry
Target: < Industry • 0.0 vs 0.0
Miss
Net Debt / EBITDA
Target: < 3 • 0.00
Passed
Revenue CAGR (5y)
Target: > 5% • 1.0%
Miss

SNAPSHOT COMPANIE

Capitalizare
0.01B RON
EBITDA
3.21M
P/E Ratio
6.96
PEG Ratio
6.86
Dividend Yield
0.00%
Beta
-0.31
Valoare Intrinsecă (Graham)
2.85 RON
Discount
+60.0%

Balance Sheet

Annual Data
Metric TTM 2024 2024 2023 2022
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter H1 H2 H2 H2 H2
Cash & Equivalents 764,808 869,081 649,027 414,008 226,843
Short-Term Investments - - - - -
Totalcash 764,808 869,081 649,027 414,008 226,843
Cash Growth 36.78% 33.91% 56.77% 82.51% -71.05%
Accounts Receivable 14,507,887 6,789,660 11,509,293 13,446,091 1,743,759
Other Receivables - 652,822 708,404 366,282 293,873
Receivables 14,507,887 7,442,482 12,217,697 13,812,373 2,037,632
Inventory 42,147,612 40,927,118 18,408,092 8,069,722 5,493,874
Prepaid Expenses - 132 132 4,204 2,582
Assetsc 57,420,307 49,238,813 31,274,948 22,300,307 7,760,931
Property, Plant & Equipment 19,023,210 17,344,620 16,263,850 16,513,870 16,612,046
Long-Term Investments - - - - -
Other Intangible Assets 51,694 59,469 96,311 126,129 175,974
Other Long-Term Assets - - - - -
Assets 76,607,596 66,744,873 47,641,275 38,946,472 24,549,203
Accounts Payable 33,930,520 14,164,247 11,616,981 7,293,154 3,197,619
Accrued Expenses 20,402,558 1,190,167 - - -
Current Portion of Long-Term Debt - - - 985,331 1,353,230
Current Portion of Leases - - - - -
Current Income Taxes Payable 11,188,350 - - - -
Current Unearned Revenue - 17,125,459 9,863,727 9,378,455 3,160,604
Other Current Liabilities 1,359,460 24,910,791 18,343,873 14,833,331 10,554,946
Total Current Liabilities 66,880,888 57,390,664 39,824,581 32,490,271 18,266,399
Long-Term Debt - - - - 413,351
Long-Term Leases - - - - -
Long-Term Unearned Revenue 908 1,248 1,929 2,610 2,610
Other Long-Term Liabilities 685,495 685,495 716,995 662,317 762,347
Total Liabilities 67,567,291 58,077,407 40,543,505 33,155,198 19,444,707
Common Stock 61,417,980 61,417,980 61,417,980 61,417,980 61,417,980
Additional Paid-In Capital 481,873 481,873 481,873 481,873 481,873
Retained Earnings -69,222,484 -67,181,233 -68,750,929 -70,569,858 -71,256,636
Comprehensive Income & Other 16,362,936 13,948,846 13,948,846 14,461,279 14,461,279
Equity 9,040,305 8,667,466 7,097,770 5,791,274 5,104,496
Total Liabilities & Equity 76,607,596 66,744,873 47,641,275 38,946,472 24,549,203
Filing Date Shares Outstanding 6,141,798 6,141,798 6,141,798 6,141,798 6,141,798
Total Common Shares Outstanding 6,141,798 6,141,798 6,141,798 6,141,798 6,141,798
Book Value Per Share 1.47 1.41 1.16 0.94 0.83
Tangible Book Value 8,988,611 8,607,997 7,001,459 5,665,145 4,928,522
Tangible Book Value Per Share 1.46 1.40 1.14 0.92 0.80
Total Debt - - - 985,331 1,766,581
Net Cash (Debt) 764,808 869,081 649,027 -571,323 -1,539,738
Net Cash Growth 36.78% 33.91% - - -
Netcashpershare 0.12 0.14 0.11 -0.09 -0.25
Working Capital -9,460,581 -8,151,851 -8,549,633 -10,189,964 -10,505,468
Land - 2,837,853 2,837,853 2,837,853 2,837,853
Buildings - 15,113,082 15,113,082 15,113,082 15,078,965
Machinery - 17,111,068 16,514,553 15,996,627 15,694,429
Construction In Progress - 2,903,696 960,201 321,439 -

Cash Flow Statement

Annual Data
Metric TTM 2024 2024 2023 2022
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter H1 H2 H2 H2 H2
Net Income - - - 686,778 -5,546,798
Depreciation & Amortization - - - 1,327,361 1,388,846
Other Amortization - - - 12,700 -
Loss (Gain) From Sale of Assets - - - 622 4,248
Loss (Gain) From Sale of Investments - - - - -
Asset Writedown & Restructuring Costs - - - - -3,656
Provision & Write-off of Bad Debts - - - -1,085,384 2,136
Change in Accounts Receivable - - - -10,689,357 2,875,029
Change in Inventory - - - -2,773,247 -294,548
Change in Unearned Revenue - - - -1,248 -1,362
Change in Other Net Operating Assets - - - 14,332,136 4,639,811
Other Operating Activities - - - 346,546 -402,321
Ncfo - - - 2,156,907 2,661,385
Ocf Growth - - - -18.96% 1,849.36%
Capex - - - -1,192,685 -124,307
Sale (Purchase) of Intangibles - - - 1,215 -32,937
Investment in Securities - - - -5,914 -
Other Investing Activities - - - 8,892 1,112
Ncfi - - - -1,188,492 -156,132
Long-Term Debt Issued - - - - -
Long-Term Debt Repaid - - - -781,251 -3,061,898
Net Debt Issued (Repaid) - - - -781,251 -3,061,898
Issuance of Common Stock - - - - -
Repurchase of Common Stock - - - - -
Other Financing Activities - - - - -
Financing Cash Flow - - - -781,251 -3,061,898
Net Cash Flow - - - 187,164 -556,645
Free Cash Flow - - - 964,222 2,537,078
Free Cash Flow Growth - - - -62.00% 1,875.38%
Fcf Margin - - - 2.98% 22.19%
Fcfps - - - 0.16 0.41
Levered Free Cash Flow - - - 820,332 4,483,527
Unlevered Free Cash Flow - - - 854,410 4,557,070
Cash Interest Paid - - - 54,524 117,669
Cash Income Tax Paid - - - - -
Change Working Capital - - - 868,284 7,218,930
Sale of Property, Plant & Equipment - - - - -

Income Statement

Annual Data
Metric TTM 2024 2024 2023 2022
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter H1 H2 H2 H2 H2
Revenue 35,708,280 22,226,744 31,612,054 32,401,848 11,435,002
Revenue Growth 29.42% -29.69% -2.44% 183.36% -46.43%
Operating Revenue 32,395,530 20,295,284 30,973,292 32,401,848 11,435,002
Other Revenue 3,312,750 1,931,460 638,762 - -
Cost of Revenue 4,483,639 -6,479,129 1,764,713 13,087,016 5,363,590
Gp 31,224,641 28,705,873 29,847,341 19,314,832 6,071,412
Selling, General & Admin 21,096,932 18,128,067 15,339,856 11,009,056 7,754,282
Other Operating Expenses 6,852,432 7,371,093 11,628,961 6,219,701 2,360,311
Operating Expenses 29,482,351 26,998,343 28,423,436 18,568,818 11,503,439
Operating Income 1,742,290 1,707,530 1,423,905 746,014 -5,432,027
Interest Expense -1,109 - -108,197 -54,524 -117,669
Interest & Investment Income - - 8,395 8,892 1,112
Earnings From Equity Investments - - - - -
Other Non Operating Income (Expenses) -27,669 -28,426 -17,606 -13,604 -1,870
EBT Excluding Unusual Items 1,713,512 1,679,104 1,306,497 686,778 -5,550,454
Gain (Loss) on Sale of Investments - - - - -
Asset Writedown - - - - 3,656
Pretax Income 1,713,512 1,679,104 1,306,497 686,778 -5,546,798
Income Tax Expense 141,303 109,409 - - -
Net Income 1,572,209 1,569,695 1,306,497 686,778 -5,546,798
Net Income to Common 1,572,209 1,569,695 1,306,497 686,778 -5,546,798
Net Income Growth 18.70% 20.15% 90.24% - -
Shares Basic 6,141,798 6,141,798 6,141,798 6,141,798 6,141,798
Shares Outstanding (Diluted) 6,141,798 6,141,798 6,141,798 6,141,798 6,141,798
Eps Basic 0.26 0.26 0.21 0.11 -0.90
EPS (Diluted) 0.26 0.26 0.21 0.11 -0.90
EPS Growth 18.70% 20.15% 90.24% - -
Free Cash Flow - - - 964,222 2,537,078
Free Cash Flow Per Share - - - 0.16 0.41
Gross Margin 87.44% 129.15% 94.42% 59.61% 53.10%
Operating Margin 4.88% 7.68% 4.50% 2.30% -47.50%
Profit Margin 4.40% 7.06% 4.13% 2.12% -48.51%
Free Cash Flow Margin - - - 2.98% 22.19%
Effective Tax Rate 0.08 0.07 - - -
EBITDA 3,275,277 3,206,713 2,751,266 2,073,375 -4,043,181
D&A For EBITDA 1,532,987 1,499,183 1,327,361 1,327,361 1,388,846
EBITDA Margin 9.17% 14.43% 8.70% 6.40% -35.36%
EBIT 1,742,290 1,707,530 1,423,905 746,014 -5,432,027
EBIT Margin 4.88% 7.68% 4.50% 2.30% -47.50%
Revenue as Reported 48,898,054 47,603,310 48,326,867 39,937,047 12,637,391

Ratios and Metrics

Annual Data
Metric TTM 2024 2024 2023 2022
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter H1 H2 H2 H2 H2
Marketcap 10,318,221 11,178,072 10,932,400 16,570,571 16,570,571
Market Cap Growth -52.79% 2.25% -34.03% - 4.83%
Enterprise Value 9,553,410 10,618,902 10,583,930 15,946,261 16,350,981
Last Close Ratios 168.00% 182.00% 178.00% 269.80% 269.80%
Pe 6.56 7.12 8.37 24.13 -
PS Ratio 0.29 0.50 0.35 0.51 1.45
PB Ratio 1.14 1.29 1.54 2.86 3.25
P/TBV Ratio 1.15 1.30 1.56 2.93 3.36
P/FCF Ratio - - - 17.19 6.53
P/OCF Ratio - - - 7.68 6.23
EV/Sales Ratio 0.27 0.48 0.34 0.49 1.43
EV/EBITDA Ratio 2.92 3.31 3.85 7.69 -
EV/EBIT Ratio 5.48 6.22 7.43 21.38 -
EV/FCF Ratio - - - 16.54 6.45
Debt / Equity Ratio - - - 0.17 0.35
Debt / EBITDA Ratio - - - 0.48 -
Debt / FCF Ratio - - - 1.02 0.70
Asset Turnover 53.50% 38.90% 73.00% 102.10% 43.50%
Inventory Turnover 12.00% - 13.30% 193.00% 105.00%
Quick Ratio 0.23 0.15 0.32 0.44 0.12
Current Ratio 0.86 0.86 0.79 0.69 0.43
Roe 19.03% 19.91% 20.27% 12.61% -70.41%
Return on Assets (ROA) 1.63% 1.87% 2.06% 1.47% -12.90%
Return on Capital (ROIC) 13.18% 13.54% 12.83% 6.83% -30.80%
Return on Capital Employed (ROCE) 0.18 0.18 0.18 0.12 -0.87
Earningsyield 15.24% 14.04% 11.95% 4.15% -33.47%
FCF Yield - - - 5.82% 15.31%

Price History

Sep 19, 2023 — Jan 12, 2026 207 Records
Date Open High Low Close Volume
2026-01-12 1.78 1.78 1.78 1.78 57
2026-01-09 1.48 1.78 1.47 1.48 82
2026-01-08 1.79 1.79 1.79 1.79 10
2025-12-30 1.79 1.79 1.79 1.79 3
2025-12-29 1.80 1.80 1.48 1.48 120
2025-12-22 1.75 1.80 1.75 1.80 81
2025-12-19 1.45 1.75 1.45 1.75 40
2025-12-18 1.70 1.70 1.70 1.70 757
2025-12-17 1.70 1.70 1.70 1.70 111
2025-12-16 1.70 1.70 1.70 1.70 131
2025-12-12 1.56 1.70 1.56 1.70 101
2025-12-10 1.69 1.69 1.69 1.69 110
2025-12-09 1.69 1.69 1.69 1.69 80
2025-12-08 1.60 1.68 1.60 1.68 335
2025-12-03 1.69 1.69 1.69 1.69 28
2025-11-26 1.60 1.73 1.60 1.73 415
2025-11-18 1.74 1.74 1.74 1.74 20
2025-11-14 1.44 1.74 1.44 1.74 24
2025-11-11 1.73 1.73 1.73 1.73 37
2025-11-10 1.73 1.73 1.73 1.73 50
2025-11-07 1.74 1.74 1.51 1.51 17
2025-11-04 1.42 1.62 1.42 1.46 54
2025-10-28 1.60 1.74 1.60 1.74 105
2025-10-22 1.41 1.74 1.40 1.74 303
2025-10-21 1.41 1.74 1.41 1.74 245
2025-10-20 1.41 1.74 1.41 1.74 40
2025-10-15 1.74 1.74 1.74 1.74 12
2025-10-14 1.64 1.75 1.57 1.74 2,918
2025-10-13 1.75 1.75 1.62 1.62 29
2025-10-10 1.75 1.75 1.60 1.60 23
2025-10-03 1.75 1.75 1.75 1.75 25
2025-10-01 1.78 1.78 1.78 1.78 22
2025-09-30 1.78 1.78 1.62 1.62 270
2025-09-26 1.59 1.59 1.59 1.59 9
2025-09-25 1.59 1.59 1.59 1.59 1
2025-09-23 1.78 1.78 1.78 1.78 10
2025-09-12 1.58 1.78 1.58 1.78 24
2025-09-10 1.61 1.79 1.58 1.58 175
2025-08-19 1.79 1.79 1.79 1.79 5
2025-08-12 1.60 1.60 1.60 1.60 42
2025-08-07 1.78 1.78 1.59 1.59 15
2025-08-06 1.79 1.79 1.79 1.79 11
2025-07-30 1.84 1.84 1.60 1.60 11
2025-07-28 1.84 1.84 1.59 1.59 12
2025-07-25 1.84 1.84 1.84 1.84 7
2025-07-24 1.59 1.59 1.59 1.59 25
2025-07-22 1.60 1.60 1.60 1.60 10
2025-07-18 1.80 1.80 1.80 1.80 104
2025-07-17 1.84 1.84 1.57 1.80 62
2025-07-16 1.84 1.84 1.84 1.84 185