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Chembio Diagnostics, Inc. (CEMI) Financial Analysis and Rating
Comparison Analysis Based on SEC Data
| Company Name | Chembio Diagnostics, Inc. |
| Industry (SIC) | 2834 - Pharmaceutical Preparations |
| Revenue in 2022 | $49,522 thousand (ranked #280 out of 644 companies in the industry) |
| Assets as of 12/31/2022 | $62,611 thousand (ranked #441) |
| Analyzed report | 12/31/2021 (filed 3/03/2022) |
Year:
Financial Position and Performance
| Compared with 2021 industry ratios | Change during the year |
|---|---|
|
worse |
deteriorated |
| Compared with all listed companies |
|---|
|
worse |
Financial Ratios Benchmarking
| Financial Ratio | Comparison of company ratios for 2021 | ||
|---|---|---|---|
|
with industry ratios (28 - Chemicals And Allied Products) |
with all listed companies | ||
| Solvency Ratios | |||
| Debt ratio |
0.53
0.35
|
0.53
0.57
|
|
| Debt-to-equity ratio |
1.14
0.35
|
1.14
0.93
|
|
| Interest coverage ratio |
-1690.77
-9.63
|
-1690.77
3.04
|
|
| Liquidity Ratios | |||
| Current Ratio |
3.59
4.55
|
3.59
2.03
|
|
| Quick Ratio |
2.63
2.79
|
2.63
1.25
|
|
| Cash Ratio |
1.88
3.76
|
1.88
0.82
|
|
| Profitability Ratios | |||
| Profit margin |
-70.9%
-138.2%
|
-70.9%
5.2%
|
|
| Resulting score | -1,0 | -0,1 | |
Year:
Additional Ratios (not used in score calculation)
| Financial Ratio | Comparison of company ratios for 2021 | ||
|---|---|---|---|
|
with industry ratios (28 - Chemicals And Allied Products) |
with all listed companies | ||
| Profitability Ratios | |||
| Gross margin |
27.9%
53.9%
|
27.9%
41.6%
|
|
| Operating margin (Return on sales) |
-71%
-29.6%
|
-71%
9.7%
|
|
| Activity Ratios | |||
| EBIT | $(34)M | ||
| EBITDA | $(31)M | ||
| Price Ratios | |||
| Earnings per Share (basic) | $-1.4 | ||
| Earnings per Share (diluted) | $-1.4 | ||
Auditor's Conclusion
We have performed a comparative analysis of the balance sheet and income statement of Chembio Diagnostics, Inc. (hereafter – the "Company") for the year 2021 as filed with the U.S. Securities and Exchange Commission (SEC). The primary business activity of the Company is "Pharmaceutical Preparations" (SIC code 2834). In our analysis, we compared the key financial ratios of the Company with the average (median) values of those ratios calculated for the Company's specific industry sector and for all companies. The averages were calculated using data from 2021 financial statements filed with the SEC through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). By comparing each of the eleven key metrics to the median, we have reached an overall conclusion about the quality of the Company's financial condition. All calculations and conclusions were performed using software and methodologies developed by ReadyRatios.
Based on our analysis of the Company's key financial ratios, we have determined the following. The financial condition of Chembio Diagnostics, Inc. in 2021 is worse than the typical financial condition of companies in the "Pharmaceutical Preparations" industry.
A comparison of the Company's financial ratios with the average ratios for all industries leads to the same conclusion. The financial position of Chembio Diagnostics, Inc. is worse than that of most listed companies that file financial statements with the U.S. Securities and Exchange Commission.