Nocera, Inc. (NCRA) | Investment Case

1. Company Snapshot

1.a. Company Description

Nocera, Inc., together with its subsidiaries, designs, develops, and produces land-based recirculation aquaculture systems for fish farming in Taiwan.The company also engages in the construction, management, and operation of aquaculture facilities.In addition, it provides consulting, technology transfer, and aquaculture project management services to new and existing aquaculture management business services.

Nocera, Inc.was founded in 2014 and is headquartered in New Taipei City, Taiwan.

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1.b. Last Insights on NCRA

Nocera, Inc.'s recent performance was driven by its expanding presence in the sustainable seafood industry. The company's upcoming presentation at the 150th National Investment Banking Association conference on September 4-5, 2024, highlights its growing reputation as a leader in land-based Recirculatory Aquaculture Systems (RASs). Additionally, the company's focus on manufacturing and operating RASs has enabled it to increase its production capacity, potentially leading to higher revenue and profitability.

1.c. Company Highlights

Last Price	0.93
Change Percentage	1.20%
Open	0.91
Previous Close	0.92
Market Cap ( Millions)	13
Volume	3854
Year High	2.4
Year Low	0.7
M A 50	1.41
M A 200	1.23

FCF Yield	-13.37%
Dividend Yield	0.00%
ROE	-82.24%
Debt / Equity	0.00%
Net Debt / EBIDTA	179.16%
Price To Book	2.74
Price Earnings Ratio	-3.86
Price To FCF	-7.48
Price To sales	0.95
EV / EBITDA	-9.99

2. Transcript Summary

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3. NewsRoom

Nocera Announces Closing of Initial $8 Million Funding Round

Nov -20

Source: accessnewswire.com

Nocera Secures up to $300 Million Private Placement to Support Digital Asset Strategy and Strategic Acquisitions

Nov -03

Source: accessnewswire.com

Nocera, Inc. Regains Compliance with Nasdaq Minimum Bid Price Deficiency

Jul -16

Source: accessnewswire.com

Nocera, Inc. Makes Strategic Investment in Tachyonext Inc. to Enter U.S. E-Commerce Market and Expand Consumer Tech Portfolio

Jun -25

Source: accessnewswire.com

Nocera, Inc. Regains Compliance with Nasdaq Filing Requirements

May -08

Source: accessnewswire.com

Nocera, Inc. Receives Nasdaq Notice Due to Delay in Filing 2024 Annual Report

Apr -28

Source: accessnewswire.com

Nocera, Inc. to Present at the 150th National Investment Banking Association Conference Slated for September 4-5 in Ft. Lauderdale, Fl.

Aug -28

Source: newsfilecorp.com

Nocera, Inc. Acquires Hangzhou SY Culture Media Co. Ltd., a Douyin Livestreaming e-Commerce Company

Apr -16

Source:

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (12.40%)

6. Segments

Large Scale Recirculating Aquaculture Systems

Expected Growth: 12.4%

Growing demand for sustainable seafood, increasing adoption of land-based aquaculture, and government initiatives promoting eco-friendly practices drive the growth of large scale recirculating aquaculture systems.

7. Detailed Products

Aquaculture Water Treatment

Nocera's aquaculture water treatment solutions provide a sustainable and eco-friendly way to maintain water quality, reduce disease, and promote healthy aquatic life.

Wastewater Treatment

Nocera's wastewater treatment solutions utilize advanced oxidation processes to remove pollutants and contaminants from wastewater, making it safe for discharge or reuse.

Industrial Process Water Treatment

Nocera's industrial process water treatment solutions provide customized treatment programs to remove impurities, scale, and corrosion from process water, ensuring optimal equipment performance and longevity.

Drinking Water Treatment

Nocera's drinking water treatment solutions provide safe and clean drinking water for communities, removing contaminants and impurities to meet or exceed international drinking water standards.

Oil and Gas Produced Water Treatment

Nocera's oil and gas produced water treatment solutions remove contaminants and pollutants from produced water, making it suitable for reuse or disposal.

8. Nocera, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Nocera, Inc. is moderate due to the availability of alternative products in the market.

Bargaining Power Of Customers

The bargaining power of customers is high due to the concentration of buyers in the market, giving them significant negotiating power.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low due to the presence of multiple suppliers in the market, reducing their negotiating power.

Threat Of New Entrants

The threat of new entrants is moderate due to the moderate barriers to entry in the market, making it possible for new companies to enter the market.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of several established companies in the market, leading to intense competition.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	13.30%
Debt Cost	3.95%
Equity Weight	86.70%
Equity Cost	12.70%
WACC	11.54%
Leverage	15.34%

11. Quality Control: Nocera, Inc. passed 3 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Inefficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Maple Leaf Foods

A-Score: 6.4/10

Value: 6.5

Growth: 5.0

Quality: 4.7

Yield: 6.0

Momentum: 9.0

Volatility: 7.3

1-Year Total Return ->

Nocera

A-Score: 5.1/10

Value: 6.8

Growth: 5.4

Quality: 4.2

Yield: 0.0

Momentum: 9.0

Volatility: 5.0

1-Year Total Return ->

TDH Holdings

A-Score: 4.9/10

Value: 6.5

Growth: 5.0

Quality: 6.5

Yield: 0.0

Momentum: 5.0

Volatility: 6.3

1-Year Total Return ->

B&G Foods

A-Score: 4.8/10

Value: 9.6

Growth: 2.6

Quality: 2.8

Yield: 10.0

Momentum: 0.0

Volatility: 3.7

1-Year Total Return ->

Bit Origin

A-Score: 3.5/10

Value: 8.2

Growth: 4.4

Quality: 5.8

Yield: 0.0

Momentum: 1.5

Volatility: 1.0

1-Year Total Return ->

Jianzhi Education

A-Score: 3.0/10

Value: 7.0

Growth: 2.7

Quality: 3.2

Yield: 0.0

Momentum: 1.5

Volatility: 3.7

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

26.20%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

11.54%

Nocera, Inc. - US6551865008

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on NCRA

1.c. Company Highlights

Average Quality

Average Yield

Medium Volatility

Fairly Valued

Stable Momentum

Average Growth

Weak Momentum

Strong Momentum

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (12.40%)

6. Segments

Large Scale Recirculating Aquaculture Systems

Expected Growth: 12.4%

7. Detailed Products

Aquaculture Water Treatment

Wastewater Treatment

Industrial Process Water Treatment

Drinking Water Treatment

Oil and Gas Produced Water Treatment

8. Nocera, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Nocera, Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

0.93$

Current Price

0.93$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA