Ping An Biomedical Co., Ltd. (PASW) AI Stock Analysis
PASW AI stock analysis summary
AI ResearchPing An Biomedical Co., Ltd. (PASW), formerly Majestic Ideal Holdings Ltd., provides supply chain management services in the apparel industry. The company saw annual revenue drop 61.0% to $34.1M in FY2025, reporting net income of -$12.8M. Over the past year, the stock fell 84.2% to close at $0.12.
- Market cap
- $15.0M
- Revenue (TTM)
- $25.5M
- P/E
- —
- 1Y return
- -84.2% S&P 500 16.8%
- Avg. target
- —
Bull case
- The company maintains balance sheet liquidity with a current ratio of 2.76 and a debt-to-equity ratio of 0.23 as of September 30, 2025.
- Insider ownership stands at 10.9%, providing alignment between management and shareholders.
- The stock trades at a price-to-sales ratio of 0.6x, which is below the median of 0.7x for its US-listed Consumer Cyclical peers.
Bear case
- Annual revenue fell 61.0% in FY2025 to $34.1M, driving a net loss of -$12.8M.
- Free cash flow dropped to -$6.4M in FY2025, while total debt of $10.5M exceeds cash and short-term investments of $1.2M.
- The stock fell 84.2% over the trailing 1-year period to close at $0.12, near its 52-week low of $0.11.
What Ping An Biomedical does
Ping An Biomedical Co., Ltd., formerly known as Majestic Ideal Holdings Ltd., provides supply chain management services in the apparel industry across China, Hong Kong, Cambodia, and Europe. Founded in 2013 and based in Cheung Sha Wan, Hong Kong, the company operates as a subsidiary of Action Holdings Limited. Its service suite includes market trend analysis, product design and development, raw material sourcing, production and quality control, and logistics management. It also engages in the manufacturing and trading of yarns, textiles, and finished garments, as well as warehousing services and real estate property investment for brand owners, textile manufacturers, and retailers.
Growth and profitability
Between FY2021 and FY2025, Ping An Biomedical posted a 4-year revenue CAGR of -23.5%. Revenue expanded 15.1% in FY2022 to $114.5M with net income of $7.2M, but dropped 27.9% in FY2023 to $82.6M as net income fell to -$993,937. Following a slight rise to $87.6M in FY2024, FY2025 revenue contracted 61.0% to $34.1M. Gross margin eroded from 14.3% in FY2021 to 2.8% in FY2025, resulting in an operating margin of -43.1% and net income of -$12.8M. Over the trailing twelve months ended September 30, 2025, revenue was $25.5M, EPS was -$0.06, and quarterly revenue fell 47.4% year-over-year.
Balance sheet and cash flow
As of September 30, 2025, Ping An Biomedical held $1.2M in cash and short-term investments against total debt of $10.5M, resulting in net debt of $9.3M. Total assets stood at $68.4M and shareholders' equity was $45.2M, reflecting a debt-to-equity ratio of 0.23 and a current ratio of 2.76. Operating cash flow and free cash flow were both -$6.4M in FY2025, down from $14.6M in FY2024.
Valuation and performance
With a market cap of $15.0M and an enterprise value of $16.5M, Ping An Biomedical trades at a price-to-sales multiple of 0.6x, compared to 0.7x for the median of its US-listed Consumer Cyclical peers. Its EV/EBITDA is 423.9x, above the peer median of 11.1x, with a price-to-book ratio of 1.4x. Over the past year, the stock fell 84.2%, trailing the 16.8% return of the S&P 500 (SPY). At its last close of $0.12, the stock is 28.2% below its 200-day average and close to its 52-week low of $0.11.
What analysts expect
No Wall Street analyst ratings, recommendations, or price targets are reported for Ping An Biomedical Co., Ltd. The company does not have published consensus revenue or earnings per share estimates, nor is an upcoming earnings date listed. Additionally, historical earnings surprises and consensus revision track records are not available in the reported data.
Key risks and what to watch
- Cash and short-term investments of $1.2M offer limited runway against total debt of $10.5M and FY2025 free cash flow of -$6.4M.
- Gross margin contracted to 2.8% in FY2025, resulting in an operating margin of -43.1%.
- Quarterly revenue fell 47.4% year-over-year in the period ended September 30, 2025.
- The company operates with a very small headcount of 7 employees and a micro-cap valuation of $15.0M.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this PASW AI stock analysis
This page is an AI-written research summary of Ping An Biomedical Co., Ltd. (PASW). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: PASW income statement, PASW balance sheet, PASW key metrics, PASW chart. See the PASW stock overview for the latest quote and news.
PASW AI stock analysis FAQ
What does Ping An Biomedical Co., Ltd. do?
Ping An Biomedical Co., Ltd., formerly Majestic Ideal Holdings Ltd., provides supply chain management services in the apparel industry, including design, sourcing, production control, and logistics. It also manufactures and trades textiles and garments, and provides warehousing and property investment services.
What was PASW's financial performance in FY2025?
In FY2025, revenue contracted 61.0% to $34.1M from $87.6M in FY2024. The company reported an operating margin of -43.1% and a net loss of -$12.8M.
How much cash and debt does Ping An Biomedical have?
As of September 30, 2025, the company had $1.2M in cash and short-term investments and $10.5M in total debt, resulting in net debt of $9.3M.
Does Ping An Biomedical pay a dividend?
The company does not pay a dividend.
How has PASW stock performed relative to the market?
Over the past year, PASW fell 84.2% to close at $0.12 on October 16, 2026, compared to a 16.8% gain for the S&P 500 (SPY).