THE SINGING MACHINE COMPANY, INC.

Financials The Singing Machine Company, Inc.

Equities

MICS

US8293224031

Household Electronics

Market Closed - Nasdaq Other stock markets 04:00:00 2024-05-17 pm EDT			5-day change	1st Jan Change
1.18 ^USD	+4.42%		+24.56%	+16.83%

Apr. 30	North American Morning Briefing : More Earnings -2-	DJ
Apr. 16	North American Morning Briefing : Powell Comments, -2-	DJ

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Capitalization ¹	12.09	9.254	13.32	9.327	13.73	6.482
Enterprise Value (EV) ¹	12.72	10.01	14.78	12.35	15.86	3.788
P/E ratio	81.7 x	14.6 x	-4.6 x	4.55 x	31.5 x	-0.57 x
Yield	-	-	-	-	-	-
Capitalization / Revenue	0.2 x	0.2 x	0.32 x	0.2 x	0.29 x	0.17 x
EV / Revenue	0.21 x	0.22 x	0.36 x	0.27 x	0.33 x	0.1 x
EV / EBITDA	10.1 x	7.65 x	-4.97 x	7.17 x	50.3 x	-0.49 x
EV / FCF	-10.7 x	-29.6 x	13.1 x	-6.16 x	-6.93 x	10.7 x
FCF Yield	-9.37%	-3.38%	7.61%	-16.2%	-14.4%	9.38%
Price to Book	1.54 x	1.09 x	2.31 x	1.26 x	0.54 x	0.86 x
Nbr of stocks (in thousands)	1,279	1,285	1,301	1,219	3,109	6,418
Reference price ²	9.450	7.200	10.23	7.650	4.416	1.010
Announcement Date	6/28/18	7/1/19	8/13/20	7/14/21	7/14/22	4/15/24

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net sales ¹	60.81	46.48	41.42	45.8	47.51	38.93
EBITDA ¹	1.265	1.309	-2.976	1.724	0.3151	-7.808
EBIT ¹	1.045	1.049	-3.245	1.425	0.0692	-8.191
Operating Margin	1.72%	2.26%	-7.83%	3.11%	0.15%	-21.04%
Earnings before Tax (EBT) ¹	0.6974	0.791	-3.499	2.629	0.2878	-8.531
Net income ¹	0.1525	0.6315	-2.857	2.172	0.2305	-8.531
Net margin	0.25%	1.36%	-6.9%	4.74%	0.49%	-21.91%
EPS ²	0.1157	0.4939	-2.224	1.681	0.1400	-1.760
Free Cash Flow ¹	-1.191	-0.3387	1.125	-2.007	-2.287	0.3553
FCF margin	-1.96%	-0.73%	2.72%	-4.38%	-4.81%	0.91%
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	6/28/18	7/1/19	8/13/20	7/14/21	7/14/22	4/15/24

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q3	2024 Q1
Net sales ¹	15.93	2.426
EBITDA ¹	0.1569	-2.235
EBIT ¹	0.106	-2.287
Operating Margin	0.67%	-94.27%
Earnings before Tax (EBT) ¹	0.0975	-2.315
Net income ¹	0.0975	-2.367
Net margin	0.61%	-97.57%
EPS ²	0.0200	-0.3700
Dividend per Share	-	-
Announcement Date	11/21/23	5/15/24

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net Debt ¹	0.63	0.76	1.46	3.03	2.13	-
Net Cash position ¹	-	-	-	-	-	2.69
Leverage (Debt/EBITDA)	0.4951 x	0.5814 x	-0.4923 x	1.756 x	6.751 x	-
Free Cash Flow ¹	-1.19	-0.34	1.13	-2.01	-2.29	0.36
ROE (net income / shareholders' equity)	2%	7.75%	-40.3%	32%	2.57%	-45.5%
ROA (Net income/ Total Assets)	5.38%	5.17%	-14.1%	5.34%	0.22%	-11.8%
Assets ¹	2.836	12.21	20.28	40.68	105	72.55
Book Value Per Share ²	6.120	6.630	4.430	6.080	8.220	1.180
Cash Flow per Share ²	0.6400	0.1600	0.2700	0.3000	1.880	1.040
Capex ¹	0.26	0.29	0.52	0.2	0.12	0.09
Capex / Sales	0.42%	0.62%	1.25%	0.44%	0.25%	0.23%
Announcement Date	6/28/18	7/1/19	8/13/20	7/14/21	7/14/22	4/15/24

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

Company calendar

Sector Home Audio

	1st Jan change	Capi.
THE SINGING MACHINE COMPANY, INC.	+16.83%	7.57M
EDIFIER TECHNOLOGY CO., LTD.	-23.88%	1.66B
SHENZHEN FENDA TECHNOLOGY CO., LTD.	-12.32%	1.07B
GUOGUANG ELECTRIC COMPANY LIMITED	-25.65%	945M
EASTECH HOLDING LIMITED	+97.17%	275M
B&C SPEAKERS S.P.A.	-9.54%	197M
YA HORNG ELECTRONIC CO., LTD.	+13.72%	175M
FORMOSA PROSONIC INDUSTRIES	+5.57%	166M
TOP UNION ELECTRONICS CORP.	+6.60%	149M
MEILOON INDUSTRIAL CO., LTD.	-4.14%	108M

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Financials The Singing Machine Company, Inc.

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