NASDAQ : FMFC
Kandal M Venture Limited — Financial statements
Consumer Discretionary · Footwear & Accessories · Cambodia
Last price 3.38 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.55M
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Financial statements
Kandal M Venture Limited (FMFC) reported revenue of 17.13M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | 17.13M | 17.13M | 17.19M | 13.97M | 13.47M |
| Cost of Revenue | 13.85M | 13.85M | 13.80M | 10.60M | 10.66M |
| Gross Profit | 3.27M | 3.27M | 3.39M | 3.37M | 2.81M |
| Selling, General & Admin | 2.95M | 2.95M | 3.01M | 1.89M | 1.82M |
| Operating Expenses | 2.95M | 2.95M | 3.01M | 1.89M | 1.82M |
| Operating Income | 322.22K | 322.22K | 374.92K | 1.48M | 989.33K |
| Interest Expense | -134.89K | -134.89K | -582.01K | -403.72K | -187.44K |
| Interest & Investment Income | 234.67K | 234.67K | 370.70K | ||
| Currency Exchange Gain (Loss) | -6.87K | -6.87K | -9.27K | ||
| Other Non Operating Income (Expenses) | 15.28K | 15.28K | 74.62K | 219.31K | 53.42K |
| Pretax Income | 430.40K | 430.40K | 228.95K | 1.30M | 855.31K |
| Income Tax Expense | 194.78K | 194.78K | 19.28K | 178.10K | 110.81K |
| Net Income | 235.62K | 235.62K | 209.67K | 1.12M | 744.50K |
| Net Income to Common | 235.62K | 235.62K | 209.67K | 1.12M | 744.50K |
| Shares Outstanding (Basic) | 443.38K | 443.38K | 400.00K | 400.00K | 400.00K |
| Shares Outstanding (Diluted) | 443.38K | 443.38K | 400.00K | 400.00K | 400.00K |
| EPS (Basic) | 0.53 | 0.53 | 0.52 | 2.80 | 1.86 |
| EPS (Diluted) | 0.53 | 0.53 | 0.52 | 2.80 | 1.86 |
| Free Cash Flow | -1.92M | -1.92M | 2.12M | 3.12M | 2.16M |
| Free Cash Flow Per Share | -4.33 | -4.33 | 5.29 | 7.79 | 5.41 |
| Gross Margin | 19.12% | 19.12% | 19.71% | 24.10% | 20.88% |
| Operating Margin | 1.88% | 1.88% | 2.18% | 10.61% | 7.34% |
| Profit Margin | 1.38% | 1.38% | 1.22% | 8.01% | 5.53% |
| Free Cash Flow Margin | -11.21% | -11.21% | 12.32% | 22.30% | 16.07% |
| EBITDA | 521.55K | 521.55K | 568.54K | 1.68M | 1.23M |
| EBITDA Margin | 3.04% | 3.04% | 3.31% | 12.03% | 9.13% |
| D&A For EBITDA | 199.33K | 199.33K | 193.63K | 198.36K | 240.93K |
| EBIT | 322.22K | 322.22K | 374.92K | 1.48M | 989.33K |
| EBIT Margin | 1.88% | 1.88% | 2.18% | 10.61% | 7.34% |
| Effective Tax Rate | 45.26% | 45.26% | 8.42% | 13.73% | 12.96% |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 3.58M | 3.58M | 102.70K | 235.35K | 361.47K |
| Short-Term Investments | 68.84K | 68.84K | 68.76K | 68.44K | 70.74K |
| Cash & Short-Term Investments | 3.65M | 3.65M | 171.46K | 303.79K | 432.21K |
| Accounts Receivable | 1.77M | 1.77M | 1.19M | 613.08K | 643.76K |
| Other Receivables | 209.07K | 209.07K | 1.25M | 2.30M | 218.92K |
| Receivables | 1.98M | 1.98M | 6.73M | 6.91M | 915.03K |
| Inventory | 2.55M | 2.55M | 1.65M | 1.80M | 3.39M |
| Prepaid Expenses | 54.10K | 54.10K | 43.55K | 17.57K | 14.46K |
| Other Current Assets | 795.77K | 230.64K | |||
| Total Current Assets | 8.24M | 8.24M | 9.39M | 9.27M | 4.75M |
| Property, Plant & Equipment | 418.68K | 418.68K | 651.08K | 897.24K | 1.14M |
| Long-Term Investments | 2.50M | 2.50M | |||
| Long-Term Deferred Tax Assets | 48.31K | 48.31K | 29.79K | 13.63K | |
| Total Assets | 11.21M | 11.21M | 10.07M | 10.18M | 5.89M |
| Accounts Payable | 1.99M | 1.99M | 2.57M | 1.65M | 2.12M |
| Accrued Expenses | 801.60K | 801.60K | 1.29M | 343.49K | 386.37K |
| Short-Term Debt | 5.09M | 2.82M | 234.06K | ||
| Current Portion of Leases | 87.63K | 87.63K | 80.92K | 74.72K | 68.99K |
| Current Income Taxes Payable | 27.18K | 27.18K | 8.33K | 116.93K | 16.58K |
| Current Unearned Revenue | 214.75K | 214.75K | 172.82K | 464.08K | |
| Other Current Liabilities | 33.93K | 33.93K | 391.45K | 5.14K | 3.17M |
| Total Current Liabilities | 3.16M | 3.16M | 9.60M | 5.48M | 5.99M |
| Long-Term Debt | 4.36M | 576.92K | |||
| Long-Term Leases | 87.63K | 168.55K | 243.26K | ||
| Long-Term Deferred Tax Liabilities | 31.73K | ||||
| Total Liabilities | 3.16M | 3.16M | 9.69M | 10.01M | 6.84M |
| Common Stock | 183.00 | 183.00 | 160.00 | 160.00 | 160.00 |
| Additional Paid-In Capital | 7.44M | 7.44M | |||
| Retained Earnings | 3.11M | 3.11M | 2.87M | 2.66M | 1.54M |
| Comprehensive Income & Other | -2.49M | -2.49M | -2.49M | -2.49M | -2.49M |
| Shareholders' Equity | 8.05M | 8.05M | 378.10K | 168.43K | -950.79K |
| Total Liabilities & Equity | 11.21M | 11.21M | 10.07M | 10.18M | 5.89M |
| Total Debt | 87.63K | 87.63K | 5.26M | 7.43M | 1.12M |
| Net Cash (Debt) | 3.56M | 3.56M | -5.09M | -7.12M | -691.02K |
| Net Cash Per Share | 8.04 | 8.04 | -12.71 | -17.81 | -1.73 |
| Filing Date Shares Outstanding | 457.50K | 457.50K | 457.50K | 400.00K | 400.00K |
| Total Common Shares Outstanding | 457.50K | 457.50K | 400.00K | 400.00K | 400.00K |
| Working Capital | 5.08M | 5.08M | -215.13K | 3.79M | -1.24M |
| Book Value Per Share | 17.59 | 17.59 | 0.95 | 0.42 | -2.38 |
| Tangible Book Value | 8.05M | 8.05M | 378.10K | 168.43K | -950.79K |
| Tangible Book Value Per Share | 17.59 | 17.59 | 0.95 | 0.42 | -2.38 |
| Machinery | 1.75M | 1.75M | 1.71M | 1.70M | 1.67M |
| Leasehold Improvements | 580.78K | 580.78K | 580.78K | 580.78K | 580.78K |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Net Income | 235.62K | 235.62K | 209.67K | 1.12M | 744.50K |
| Depreciation & Amortization | 268.57K | 268.57K | 262.87K | 267.60K | 310.17K |
| Provision & Write-off of Bad Debts | 27.69K | 27.69K | 3.11K | ||
| Other Operating Activities | -221.41K | -221.41K | 215.15K | 388.64K | 90.94K |
| Change in Accounts Receivable | -471.95K | -471.95K | -659.10K | -112.57K | 694.37K |
| Change in Inventory | -863.58K | -863.58K | 147.51K | 1.52M | 285.69K |
| Change in Accounts Payable | -859.76K | -859.76K | 1.96M | -43.70K | 45.82K |
| Operating Cash Flow | -1.88M | -1.88M | 2.13M | 3.14M | 2.17M |
| Capital Expenditures | -36.17K | -36.17K | -16.71K | -22.97K | -9.98K |
| Investment in Securities | -2.50M | -2.50M | |||
| Other Investing Activities | -96.72K | -96.72K | -565.13K | -230.64K | |
| Investing Cash Flow | -2.63M | -2.63M | -581.84K | -253.61K | -9.98K |
| Long-Term Debt Issued | 6.37M | ||||
| Long-Term Debt Repaid | -5.17M | -5.17M | -2.17M | -68.99K | -3.24M |
| Lease Payments | -80.92K | -80.92K | -74.72K | -68.99K | -63.70K |
| Net Debt Issued (Repaid) | -5.17M | -5.17M | -2.17M | 6.30M | -3.24M |
| Issuance of Common Stock | 8.01M | 8.01M | |||
| Other Financing Activities | 5.15M | 5.15M | 484.85K | -9.32M | 1.32M |
| Financing Cash Flow | 8.00M | 8.00M | -1.69M | -3.01M | -1.92M |
| Net Cash Flow | 3.48M | 3.48M | -132.65K | -126.12K | 244.78K |
| Free Cash Flow | -1.92M | -1.92M | 2.12M | 3.12M | 2.16M |
| Free Cash Flow Margin | -11.21% | -11.21% | 12.32% | 22.30% | 16.07% |
| Free Cash Flow Per Share | -4.33 | -4.33 | 5.29 | 7.79 | 5.41 |
| Levered Free Cash Flow | 3.62M | 3.62M | 1.71M | -6.83M | |
| Unlevered Free Cash Flow | 3.70M | 3.70M | 2.08M | -6.58M | |
| Free Cash Flow After Leases | -2.00M | -2.00M | 2.04M | 3.05M | 2.10M |
| Cash Interest Paid | 143.34K | 143.34K | 595.42K | 421.71K | 209.66K |
| Cash Income Tax Paid | 194.45K | 194.45K | 144.04K | 123.11K | 276.10K |
| Change in Working Capital | -2.20M | -2.20M | 1.45M | 1.36M | 1.03M |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Market Capitalization | 1.56M | 7.38M | |||
| Enterprise Value | -2.00M | 5.77M | |||
| Last Close Price | 3.38 | 16.12 | |||
| PE Ratio | 6.42 | 31.31 | |||
| PS Ratio | 0.09 | 0.43 | |||
| PB Ratio | 0.19 | 0.92 | |||
| P/TBV Ratio | 0.19 | 0.92 | |||
| EV/Sales Ratio | 0.34 | ||||
| EV/EBITDA Ratio | 11.07 | ||||
| EV/EBIT Ratio | 17.92 | ||||
| Debt / Equity Ratio | 0.01 | 0.01 | 13.90 | 44.10 | -1.18 |
| Debt / EBITDA Ratio | 0.15 | 0.15 | 8.24 | 4.25 | 0.86 |
| Debt / FCF Ratio | 2.48 | 2.38 | 0.52 | ||
| Net Debt / Equity Ratio | -0.44 | -0.44 | 13.45 | 42.29 | -0.73 |
| Net Debt / EBITDA Ratio | -6.83 | -6.83 | 8.95 | 4.24 | 0.56 |
| Net Debt / FCF Ratio | 1.86 | 1.86 | 2.40 | 2.29 | 0.32 |
| Asset Turnover | 1.61 | 1.61 | 1.70 | 1.74 | |
| Inventory Turnover | 6.60 | 6.60 | 8.00 | 4.09 | |
| Quick Ratio | 1.78 | 1.78 | 0.27 | 0.59 | 0.22 |
| Current Ratio | 2.61 | 2.61 | 0.98 | 1.69 | 0.79 |
| Return on Equity (ROE) | 5.59% | 5.59% | 76.73% | ||
| Return on Assets (ROA) | 1.89% | 1.89% | 2.31% | 11.53% | |
| Return on Invested Capital (ROIC) | 3.93% | 3.55% | 5.38% | 35.55% | |
| Return on Capital Employed (ROCE) | 4.00% | 4.00% | 80.50% | 31.60% | -1,000.60% |
| Earnings Yield | 15.58% | 3.19% | |||
| FCF Yield | -124.23% | -26.04% | |||
| Buyback Yield / Dilution | -10.85% | -10.85% |