Prime Meridian Financials
This page shows Prime Meridian (PMHG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Double-digit shareholder returns are being produced by a highly leveraged balance sheet, with profitability heavily shaped by funding costs.
Across the last three annual periods, ROA stayed near1.0% while ROE remained double-digit, an unusual combination unless the balance sheet is doing most of the work. With debt-to-equity still 9.7x in FY2023, modest returns on assets are being amplified for equity holders rather than created by wide operating margins.
FY2023 shows revenue rising to
Cash conversion looks solid for this kind of balance-sheet business: operating cash flow was
Financial Health Signals
Based on FY2023 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Prime Meridian's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Prime Meridian's revenue surged 29.9% year-over-year to $39.9M, reflecting rapid business expansion. This strong growth earns a score of 80/100.
Prime Meridian has elevated debt relative to equity (D/E of 9.68), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
Prime Meridian converts 26.0% of revenue into free cash flow ($10.4M). This strong cash generation earns a score of 100/100.
Prime Meridian's ROE of 10.9% shows moderate profitability relative to equity, earning a score of 38/100. This is down from 14.4% the prior year.
Prime Meridian passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Prime Meridian generates $1.21 in operating cash flow ($10.5M OCF vs $8.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Prime Meridian generated $39.9M in revenue in fiscal year 2023. This represents an increase of 29.9% from the prior year.
Prime Meridian reported $8.7M in net income in fiscal year 2023. This represents a decrease of 10.1% from the prior year.
Prime Meridian earned $2.68 per diluted share (EPS) in fiscal year 2023. This represents a decrease of 11.6% from the prior year.
Cash & Balance Sheet
Prime Meridian generated $10.4M in free cash flow in fiscal year 2023, representing cash available after capex. This represents a decrease of 38.5% from the prior year.
Prime Meridian had 3M shares outstanding in fiscal year 2023. This represents an increase of 3.0% from the prior year.
Margins & Returns
Prime Meridian's net profit margin was 21.8% in fiscal year 2023, showing the share of revenue converted to profit. This is down 9.7 percentage points from the prior year.
Prime Meridian's ROE was 10.9% in fiscal year 2023, measuring profit generated per dollar of shareholder equity. This is down 3.6 percentage points from the prior year.
Capital Allocation
Prime Meridian invested $178K in capex in fiscal year 2023, funding long-term assets and infrastructure. This represents a decrease of 76.0% from the prior year.
PMHG Income Statement
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.7M+8.1% | $11.7M+6.1% | $11.1M+1.8% | $10.9M+6.7% | $10.2M+5.2% | $9.7M+5.2% | $9.2M+1.4% | $9.1M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $3.0M-0.4% | $3.0M+5.5% | $2.9M+1.8% | $2.8M-1.8% | $2.9M+4.4% | $2.7M-0.3% | $2.8M-3.8% | $2.9M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $4.8M+9.4% | $4.3M+10.5% | $3.9M+8.8% | $3.6M+20.6% | $3.0M+28.8% | $2.3M+41.5% | $1.6M+35.9% | $1.2M |
| Income Tax | $835K+51.0% | $553K-8.3% | $603K+7.3% | $562K-15.9% | $668K-6.3% | $713K-10.5% | $797K-4.6% | $835K |
| Net Income | $2.6M+46.7% | $1.8M-8.1% | $1.9M+5.5% | $1.8M-13.7% | $2.1M-6.1% | $2.3M-9.8% | $2.5M-5.3% | $2.6M |
| EPS (Diluted) | $0.78+44.4% | $0.54-8.5% | $0.59 | N/A | $0.66-5.7% | $0.70-10.3% | $0.78 | N/A |
PMHG Balance Sheet
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $931.6M+4.3% | $893.4M+3.6% | $862.7M+1.0% | $854.5M+2.7% | $832.0M+1.3% | $821.0M+0.6% | $816.3M+0.1% | $815.2M |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $843.1M+4.1% | $809.9M+3.7% | $781.2M+0.9% | $774.6M+2.3% | $757.2M+1.4% | $746.9M+0.4% | $743.6M-0.6% | $748.1M |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $88.5M+6.0% | $83.5M+2.5% | $81.4M+1.8% | $80.0M+6.9% | $74.8M+0.8% | $74.2M+2.1% | $72.7M+8.4% | $67.1M |
| Retained Earnings | $52.7M+5.2% | $50.1M+3.7% | $48.3M+2.4% | $47.2M+4.0% | $45.4M+4.9% | $43.3M+5.5% | $41.0M+10.1% | $37.3M |
PMHG Cash Flow Statement
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.6M+4131.1% | $61K-96.9% | $1.9M-48.5% | $3.8M-12.9% | $4.3M+34.5% | $3.2M+506.8% | -$792K-110.0% | $7.9M |
| Capital Expenditures | $15K-58.3% | $36K-67.3% | $110K+134.0% | $47K-2.1% | $48K+54.8% | $31K-40.4% | $52K+62.5% | $32K |
| Free Cash Flow | $2.6M+10164.0% | $25K-98.6% | $1.8M-50.8% | $3.7M-13.0% | $4.3M+34.3% | $3.2M+478.1% | -$844K-110.7% | $7.9M |
| Investing Cash Flow | $9.5M+817.7% | -$1.3M+91.0% | -$14.6M-6.7% | -$13.7M+0.4% | -$13.7M-70.1% | -$8.1M+42.5% | -$14.0M+31.4% | -$20.4M |
| Financing Cash Flow | $33.6M+17.3% | $28.7M+272.7% | $7.7M-51.6% | $15.9M+59.3% | $10.0M+154.4% | $3.9M+272.5% | -$2.3M+90.4% | -$23.7M |
| Dividends Paid | $0 | $0-100.0% | $818K | $0 | $0 | $0-100.0% | $698K | $0 |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
PMHG Financial Ratios
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 20.5%+5.4pp | 15.1%-2.3pp | 17.4%+0.6pp | 16.8%-4.0pp | 20.8%-2.5pp | 23.3%-3.9pp | 27.2%-2.0pp | 29.1% |
| Return on Equity | 2.9%+0.8pp | 2.1%-0.2pp | 2.4%+0.1pp | 2.3%-0.5pp | 2.8%-0.2pp | 3.0%-0.4pp | 3.4%-0.5pp | 3.9% |
| Return on Assets | 0.3%+0.1pp | 0.2%-0.0pp | 0.2%+0.0pp | 0.2%-0.0pp | 0.3%-0.0pp | 0.3%-0.0pp | 0.3%-0.0pp | 0.3% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 9.53-0.2 | 9.70+0.1 | 9.59-0.1 | 9.68-0.4 | 10.12+0.1 | 10.07-0.2 | 10.23-0.9 | 11.16 |
| FCF Margin | 20.2%+20.0pp | 0.2%-16.4pp | 16.6%-17.7pp | 34.3%-7.8pp | 42.1%+9.1pp | 33.0%+42.1pp | -9.2%-96.1pp | 87.0% |
Frequently Asked Questions
What is Prime Meridian's annual revenue?
Prime Meridian (PMHG) reported $39.9M in total revenue for fiscal year 2023. This represents a 29.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Prime Meridian's revenue growing?
Prime Meridian (PMHG) revenue grew by 29.9% year-over-year, from $30.7M to $39.9M in fiscal year 2023.
Is Prime Meridian profitable?
Yes, Prime Meridian (PMHG) reported a net income of $8.7M in fiscal year 2023, with a net profit margin of 21.8%.
What is Prime Meridian's net profit margin?
Prime Meridian (PMHG) had a net profit margin of 21.8% in fiscal year 2023, representing the share of revenue converted into profit after all expenses.
What is Prime Meridian's return on equity (ROE)?
Prime Meridian (PMHG) has a return on equity of 10.9% for fiscal year 2023, measuring how efficiently the company generates profit from shareholder equity.
What is Prime Meridian's free cash flow?
Prime Meridian (PMHG) generated $10.4M in free cash flow during fiscal year 2023. This represents a -38.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Prime Meridian's operating cash flow?
Prime Meridian (PMHG) generated $10.5M in operating cash flow during fiscal year 2023, representing cash generated from core business activities.
What are Prime Meridian's total assets?
Prime Meridian (PMHG) had $854.5M in total assets as of fiscal year 2023, including both current and long-term assets.
What are Prime Meridian's capital expenditures?
Prime Meridian (PMHG) invested $178K in capital expenditures during fiscal year 2023, funding long-term assets and infrastructure.
What is Prime Meridian's debt-to-equity ratio?
Prime Meridian (PMHG) had a debt-to-equity ratio of 9.68 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Prime Meridian's return on assets (ROA)?
Prime Meridian (PMHG) had a return on assets of 1.0% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.
What is Prime Meridian's Piotroski F-Score?
Prime Meridian (PMHG) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Prime Meridian's earnings high quality?
Prime Meridian (PMHG) has an earnings quality ratio of 1.21x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Prime Meridian?
Prime Meridian (PMHG) scores 36 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.