FY 2025 report
HUB.TECH to spółka holdingowa (bez własnej działalności operacyjnej generującej regularną sprzedaż) zarządzająca grupą kapitałową: Onlybio.life, Boruta-Zachem Kolor, Stars.Space, Inventionbio.
Sentiment
Neutral
No guidance change
HUB
FY 2025 report
Revenue
4.21 m PLN
— YoY
Net income
4.1 m PLN
— YoY
EBITDA
-0.47 m PLN
— YoY
Net debt / EBITDA
-0.49x
— YoY
Summary
Investment thesis
- Jednostkowy zysk netto Spółki pochodzi niemal wyłącznie z przychodów finansowych (dywidenda 5,0 mln zł od spółki zależnej), nie z działalności operacyjnej, która jest strukturalnie stratna (EBIT -0,82 mln zł).
- Bilans zdominowany przez inwestycje długoterminowe w spółki zależne (238,6 mln zł, 93% aktywów) — wycena akcji/udziałów w grupie jest kluczowym czynnikiem ryzyka i szansy jednocześnie.
- Operacyjny cash flow ujemny drugi rok z rzędu; Spółka finansuje się głównie wpływami z inwestycji (dywidendy z grupy), nie z bieżącej działalności.
- Brak istotnego zadłużenia bankowego (jedynie 2,0 mln zł pożyczki, niezmienione r/r) — bilans jednostkowy sam w sobie nie jest lewarowany, ale to sprawozdanie nie pokazuje zadłużenia spółek zależnych.
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Financials
BETA
HUB · FY 2025
| Metric | FY 2025 | FY 2024 | Δ YoY | Value type | Segment | Conf. |
|---|---|---|---|---|---|---|
| Revenue | 4.21 | — | — | reported | — | 1.00 |
| EBITDA | -0.47 | — | — | reported | — | 0.70 |
| EBIT | -0.83 | — | — | reported | — | 1.00 |
| EBT | 4.18 | — | — | reported | — | 1.00 |
| Net income | 4.1 | — | — | reported | — | 1.00 |
| EPS (basic) | 0.01 | — | — | reported | — | 0.70 |
| D&A | 0.36 | — | — | reported | — | 1.00 |
| Interest expense | 0 | — | — | reported | — | 1.00 |
| Shares (basic) (m units) | 667.49 | — | — | reported | — | 1.00 |
| EBITDA margin | -11.13% | — | — | reported | — | 0.70 |
| EBIT margin | -19.59% | — | — | reported | — | 0.70 |
| Net margin | 97.28% | — | — | reported | — | 0.70 |
| Cash | 0.14 | — | — | reported | — | 1.00 |
| Total debt | 2 | — | — | reported | — | 1.00 |
| Net debt | 1.86 | — | — | reported | — | 0.70 |
| Equity | 235.12 | — | — | reported | — | 1.00 |
| Total assets | 256.62 | — | — | reported | — | 1.00 |
| Working capital | -16.59 | — | — | reported | — | 0.70 |
| Current assets | 3.72 | — | — | reported | — | 1.00 |
| Current liabilities | 20.31 | — | — | reported | — | 1.00 |
| Goodwill | 127.23 | — | — | derived | — | 0.90 |
| Tangible equity (PLN) | 163 | — | — | reported | — | 0.85 |
| CFO | -0.3 | — | — | reported | — | 1.00 |
| CapEx | 4.07 | — | — | reported | — | 1.00 |
| FCF | -4.38 | — | — | reported | — | 0.70 |
| FCF conversion | 8.16% | — | — | reported | — | 0.85 |
| CFO conversion | 30.71% | — | — | reported | — | 0.85 |
| ROE | 5.38% | — | — | reported | — | 0.85 |
| ROA | 3.74% | — | — | reported | — | 0.85 |
| ROIC | 7.61% | — | — | reported | — | 0.70 |
| ROCE | 8.22% | — | — | reported | — | 0.85 |
| Current ratio | 0.18x | — | — | reported | — | 0.70 |
| Quick ratio | 1.77x | — | — | reported | — | 0.90 |
| Cash ratio | 0.68x | — | — | reported | — | 0.95 |
| Interest coverage | 99.75x | — | — | reported | — | 0.85 |
| Net debt / EBITDA | -0.49x | — | — | reported | — | 0.85 |
| Debt / equity | 0.01x | — | — | reported | — | 0.70 |
| Debt / assets | 0.02x | — | — | reported | — | 0.90 |
| Net debt / equity | 0.01x | — | — | reported | — | 0.70 |
| Revenue growth (YoY) | -15.51% | — | — | reported | — | 1.00 |
| EBITDA growth (YoY) | -8.81% | — | — | reported | — | 0.90 |
| EBIT growth (YoY) | -15.14% | — | — | reported | — | 0.95 |
| Net income growth (YoY) | -67.87% | — | — | reported | — | 1.00 |
| EBITDA margin Δ (YoY) | -4.28 pp | — | — | reported | — | 0.90 |
| EBIT margin Δ (YoY) | -4 pp | — | — | reported | — | 0.95 |
| Net margin Δ (YoY) | -3 pp | — | — | reported | — | 0.95 |
FY 2025 · Δ YoY
Revenue
4.21
—
4.21
—
- FY 2024
- —
EBITDA
-0.47
—
-0.47
—
- FY 2024
- —
EBIT
-0.83
—
-0.83
—
- FY 2024
- —
EBT
4.18
—
4.18
—
- FY 2024
- —
Net income
4.1
—
4.1
—
- FY 2024
- —
EPS (basic)
0.01
—
0.01
—
- FY 2024
- —
D&A
0.36
—
0.36
—
- FY 2024
- —
Interest expense
0
—
0
—
- FY 2024
- —
Shares (basic)
(m units)
667.49
—
667.49
—
- FY 2024
- —
EBITDA margin
-11.13%
—
-11.13%
—
- FY 2024
- —
EBIT margin
-19.59%
—
-19.59%
—
- FY 2024
- —
Net margin
97.28%
—
97.28%
—
- FY 2024
- —
Cash
0.14
—
0.14
—
- FY 2024
- —
Total debt
2
—
2
—
- FY 2024
- —
Net debt
1.86
—
1.86
—
- FY 2024
- —
Equity
235.12
—
235.12
—
- FY 2024
- —
Total assets
256.62
—
256.62
—
- FY 2024
- —
Working capital
-16.59
—
-16.59
—
- FY 2024
- —
Current assets
3.72
—
3.72
—
- FY 2024
- —
Current liabilities
20.31
—
20.31
—
- FY 2024
- —
Goodwill
127.23
—
127.23
—
- FY 2024
- —
Tangible equity
(PLN)
163
—
163
—
- FY 2024
- —
CFO
-0.3
—
-0.3
—
- FY 2024
- —
CapEx
4.07
—
4.07
—
- FY 2024
- —
FCF
-4.38
—
-4.38
—
- FY 2024
- —
FCF conversion
8.16%
—
8.16%
—
- FY 2024
- —
CFO conversion
30.71%
—
30.71%
—
- FY 2024
- —
ROE
5.38%
—
5.38%
—
- FY 2024
- —
ROA
3.74%
—
3.74%
—
- FY 2024
- —
ROIC
7.61%
—
7.61%
—
- FY 2024
- —
ROCE
8.22%
—
8.22%
—
- FY 2024
- —
Current ratio
0.18x
—
0.18x
—
- FY 2024
- —
Quick ratio
1.77x
—
1.77x
—
- FY 2024
- —
Cash ratio
0.68x
—
0.68x
—
- FY 2024
- —
Interest coverage
99.75x
—
99.75x
—
- FY 2024
- —
Net debt / EBITDA
-0.49x
—
-0.49x
—
- FY 2024
- —
Debt / equity
0.01x
—
0.01x
—
- FY 2024
- —
Debt / assets
0.02x
—
0.02x
—
- FY 2024
- —
Net debt / equity
0.01x
—
0.01x
—
- FY 2024
- —
Revenue growth (YoY)
-15.51%
—
-15.51%
—
- FY 2024
- —
EBITDA growth (YoY)
-8.81%
—
-8.81%
—
- FY 2024
- —
EBIT growth (YoY)
-15.14%
—
-15.14%
—
- FY 2024
- —
Net income growth (YoY)
-67.87%
—
-67.87%
—
- FY 2024
- —
EBITDA margin Δ (YoY)
-4.28 pp
—
-4.28 pp
—
- FY 2024
- —
EBIT margin Δ (YoY)
-4 pp
—
-4 pp
—
- FY 2024
- —
Net margin Δ (YoY)
-3 pp
—
-3 pp
—
- FY 2024
- —