Category: 3. Business

Even when a business is losing money, it’s possible for shareholders to make money if they buy a good business at the right price. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. But the harsh reality is that very many loss making companies burn through all their cash and go bankrupt.

Given this risk, we thought we’d take a look at whether Marks Electrical Group (LON:MRK) shareholders should be worried about its cash burn. In this report, we will consider the company’s annual negative free cash flow, henceforth referring to it as the ‘cash burn’. We’ll start by comparing its cash burn with its cash reserves in order to calculate its cash runway.

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You can calculate a company’s cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. When Marks Electrical Group last reported its September 2025 balance sheet in November 2025, it had zero debt and cash worth UK£1.5m. Looking at the last year, the company burnt through UK£3.1m. That means it had a cash runway of around 6 months as of September 2025. Notably, however, analysts think that Marks Electrical Group will break even (at a free cash flow level) before then. If that happens, then the length of its cash runway, today, would become a moot point. The image below shows how its cash balance has been changing over the last few years.

Check out our latest analysis for Marks Electrical Group

Marks Electrical Group boosted investment sharply in the last year, with cash burn ramping by 65%. While that’s concerning on it’s own, the fact that operating revenue was actually down 6.6% over the same period makes us positively tremulous. Considering both these metrics, we’re a little concerned about how the company is developing. Clearly, however, the crucial factor is whether the company will grow its business going forward. For that reason, it makes a lot of sense to take a look at our analyst forecasts for the company.

Marks Electrical Group revenue is declining and its cash burn is increasing, so many may be considering its need to raise more cash in the future. Companies can raise capital through either debt or equity. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. We can compare a company’s cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year’s operations.

Marks Electrical Group’s cash burn of UK£3.1m is about 6.2% of its UK£49m market capitalisation. Given that is a rather small percentage, it would probably be really easy for the company to fund another year’s growth by issuing some new shares to investors, or even by taking out a loan.

As you can probably tell by now, we’re not too worried about Marks Electrical Group’s cash burn. In particular, we think its cash burn relative to its market cap stands out as evidence that the company is well on top of its spending. While we must concede that its cash runway is a bit worrying, the other factors mentioned in this article provide great comfort when it comes to the cash burn. It’s clearly very positive to see that analysts are forecasting the company will break even fairly soon. Considering all the factors discussed in this article, we’re not overly concerned about the company’s cash burn, although we do think shareholders should keep an eye on how it develops. Taking an in-depth view of risks, we’ve identified 1 warning sign for Marks Electrical Group that you should be aware of before investing.

If you would prefer to check out another company with better fundamentals, then do not miss this free list of interesting companies, that have HIGH return on equity and low debt or this list of stocks which are all forecast to grow.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Micron Technology (MU) shares recently moved higher, capturing Wall Street’s attention as investors weighed the company’s market momentum in relation to its recent gains. The conversation now centers on what may drive the next phase for MU stock.

See our latest analysis for Micron Technology.

Micron’s share price has surged over 28% in the past month and is up more than 182% year-to-date, reflecting renewed optimism about chip demand and growth prospects. Long-term investors are sitting on a huge gain as the total shareholder return over the past three years tops 328%, which shows that momentum is clearly building for MU.

If Micron’s surge has you rethinking your tech game, this is a prime moment to explore See the full list for free..

With such impressive gains, investors are left wondering whether Micron shares are undervalued or if all the good news is already reflected in the price. This raises the critical question: Is there still a buying opportunity here, or is the market already anticipating future growth?

With Micron recently closing at $246.83, according to BlackGoat’s widely followed narrative, the stock is trading well above its estimated fair value. This stark gap sparks debate about whether the frenzy around AI-led demand can justify today’s sky-high price, or if expectations are running too hot.

The AI Supercycle is the most powerful catalyst. The demand for next-generation HBM is unprecedented. Micron has successfully passed NVIDIA’s quality verification for its HBM3E products, becoming a key supplier for the next-generation “Blackwell” AI accelerator. The company is now shipping high-volume HBM to four major customers across both GPU and ASIC platforms. With its entire 2025 production capacity already sold out, analysts project the HBM market will grow from roughly $30 billion in 2025 to a staggering $100 billion by 2030. This represents a massive runway for growth.

Read the complete narrative.

Want to know what financial forecasts fuel this high conviction? This narrative is driven by bold growth assumptions and future profit margins usually reserved for industry disruptors. Curious about which aggressive projections are the backbone of this valuation? The full story reveals the numbers behind the hype. See exactly what sets this estimate apart from the market crowd.

Result: Fair Value of $200 (OVERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, intense competition from Samsung and SK Hynix, as well as unpredictable geopolitical tensions, could quickly challenge even the most optimistic growth forecasts.

Find out about the key risks to this Micron Technology narrative.

Taking a closer look at our SWS DCF model, the outcome paints a different picture. Micron appears significantly overvalued, with its current market price of $246.83 sitting well above our fair value estimate of $103.65. This challenges whether the recent rally is built on sustainable fundamentals or market excitement. Could Micron be getting ahead of its real worth?

Look into how the SWS DCF model arrives at its fair value.

If you have a different perspective or want to dig into the numbers firsthand, putting your own narrative together is quick and straightforward. Do it your way.

A great starting point for your Micron Technology research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision.

Don’t let your next opportunity pass you by. Smart investors widen their horizons and find hidden gems that could be tomorrow’s winners. Give yourself an edge by checking out these handpicked stock collections below.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include MU.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Once awash with venture capital, Asia’s start-up ecosystem is now weathering a deep freeze as investors reassess their risk exposure amid global economic uncertainty and China’s growth slowdown.

“What winter? It’s the constant weather here,” said Bikesh Lakhmichand, founding partner of 1337 Ventures, a firm specialising in Malaysian and Southeast Asian start-ups. “Fundraising is hard because funds are non-existent.”

Venture capital funding in Asia totalled just US$51.2 billion in the first nine months of this year, according to accounting firm KPMG. Data from business analytics firm Crunchbase reveals a broader trend: funding hit a decade low of US$65.8 billion last year, a far cry from the record US$194 billion raised in 2021.

Malaysia’s government, aiming to revitalise the sector with its “KL20” start-up road map launched last year, has seen only limited success. Official figures show 6.7 billion ringgit (US$1.6 billion) flowed into start-ups in 2024. In the first half of this year, investments totalled just US$50.6 million across 32 deals, according to the Securities Commission Malaysia.

Bikesh said Malaysia had long struggled to convince global investors of its potential as a launch pad for growing early-stage businesses into regional leaders.

Rail travellers using services between London and the Kent and East Sussex coast have been warned to check ahead with a new timetable pending.

South Eastern Railway is introducing the changes on 14 December.

It will see 29 extra services on the highspeed service between St Pancras International and Faversham.

Three new locomotives are joining the fleet, with some services getting extra carriages added.

Among the services to benefit will be commuter trains between Hastings and Charing Cross and Canon Street, and Dartford and Gravesend to Victoria.

There will also be extra peak time services from Maidstone East and Ashford to London.

The three new trains are Class 377s, bringing the total number in the operator’s fleet to 36.

Scott Brightwell from South Eastern Railway, said: “This latest timetable change meets rising demand by increasing services where needed and adding space for extra comfort at the busiest times.

“Customers can check their amended services now as journey planners have been updated online and full details of the changes can be found on our website.”

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) is among the most fantastic stocks every investor should pay attention to. The company’s shares have gained nearly 48% year-to-date, and it remains a consensus Buy, with analysts expecting the stock to rise by almost 22% further.

Pixabay/Public Domain

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) has been in a sweet spot amid the accelerated demand for semiconductors driven by artificial intelligence. As evidence of its importance in the AI value chain, a Bloomberg report from November 8 stated that Nvidia CEO Jensen Huang considered TSMC to be critical to Nvidia’s success and had requested that the company scale up its supplies to meet Nvidia’s ever-rising chip needs. Huang was meeting TSMC’s CEO C.C. Wei on the sidelines of the latter’s company event. At the event, Wei had said that his company would continue to see record sales every year.

Earlier, on October 27, Needham analyst Quinn Bolton highlighted the potential for TSMC’s 3nm FinFET (N3) capacity to expand, which could lead to substantial revenue growth. He also expected higher volumes from Nvidia’s Rubin GPU in 2026, and thus increased his growth and capital expenditure forecasts for 2026. Bolton had reaffirmed his Buy price target with a $360 price target.

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) is the world’s largest dedicated semiconductor foundry. It produces advanced integrated circuits for global industries, including technology, communications, and automotive.

While we acknowledge the potential of TSM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT:  13 Best Stocks to Buy According to Citadel LLC and Goldman Sachs Defense Stocks: Top 10 Stocks to Buy.

Disclosure: None. This article is originally published at Insider Monkey.

About a million Ford diesel cars were sold in the UK with serious defects in components supposed to curb toxic exhaust emissions, the high court has been told.

The highly polluting vehicles were produced and sold between 2016 and 2018 after Ford’s engineers became aware of the issues, and many were never formally recalled or fixed, lawyers said.

The claims came in evidence submitted in the legal action on behalf of 1.6 million diesel vehicle owners against five car manufacturers, including Ford, for allegedly using “defeat devices” to cheat emissions tests for nitrogen oxides (NOx).

Parts of the emissions control systems as calibrated by Ford were discovered to become less effective when “poisoned” by sulphur in fuel during driving, the court heard. In 2017, when tested in service, 27 out of 27 Ford vehicles with Euro 6 engines failed the New European Driving Cycle (NEDC) emissions tests.

Cross-examining Marcus Davies, Ford’s former calibration manager, in the high court, Thomas de la Mare KC said that the systems had not been “sufficiently tested” and that “the scale of the problem” amounted to “one million vehicles affected”. It was a “generic issue affecting the best part of a million cars”, de la Mare claimed.

Davies played down the 1m figure. “It’s not every vehicle that would have this problem,” he said.

New software was implemented in production lines from 2018, and some Ford customers whose cars were serviced at official dealers also received a software update to address the problem, but there was no wider recall, the court was told.

De La Mare said: “You must have appreciated that the update would not rectify the situation.”

Davies replied: “It would improve it.”

“But not make it compliant with the NEDC,” de la Mare replied.

In the broader case, the claimants argued that Ford had deliberately calibrated its engines to pass certification tests rather than reduce real world driving emissions.

Referencing the manufacturer’s own internal documents, Ben Jaffey KC, for the claimants, said that as far back as 2012 there was “a very clear recognition that Ford wasn’t using EGR [the exhaust gas recirculation system to reduce NOx] as much as possible”.

Jaffey said: “The reality is that it was shaped to the requirements of the test and not much else?”

Davies said: “It was calibrated in part to the requirements of the NEDC.” Changes to trap more NOx “would have been at the expense of the capture of other gases”.

Documents shown in court also showed that NOx emissions from a Euro 5 transit van surged well beyond regulatory limits when the engine was tested inadvertently in sixth gear. The NEDC tests were normally carried out in fifth gear.

However, in real-world driving, Jaffey said, the vans’ gear shift indicator encouraged drivers to switch up to sixth gear, where the system to reduce NOx was ineffective, when the van reached speeds of 100km/h (62mph). “It’s hardly Grand Theft Auto, is it?” he said.

The Ford models included as sample vehicles in the trial include the Mondeo, C-Max Fiesta and Focus cars as well as Transit vans.

Ford denies having created defeat devices, and in its written submissions described the claim as “scientifically illiterate”.

Its lawyers said that “a reduction in the effectiveness of NOx control may be a necessary, reasonable and justifiable engineering compromise to maintain overall system stability, protect components from damage, or control other, potentially more harmful, emissions”.

The three-month hearing that opened last month is examining vehicles sold by Ford and five other manufacturers – Mercedes, Renault, Nissan and Peugeot/Citroën.

The “Dieselgate” scandal came to light after US scientists said in autumn 2015 that many of Volkswagen diesel engine cars had been equipped with software meant to deliberately falsify emissions tests.

Millions of vehicles around the world were affected by the alleged misconduct, leading to car owners facing costs that collectively ran into hundreds of millions of euros. It is estimated to have led to thousands of deaths and cases of asthma in children.

The trial continues.

Operator

Good morning, ladies and gentlemen, and welcome to the Third Quarter Earnings Call for Light. Today’s event will be in Portuguese and will be translated into English. If you would like to listen to the English language audio, you can click on the Interpretation button at the bottom of your screen. We’d like to inform you that this event is being recorded and it will be available at the company’s Investor Relations website along with the materials used in this presentation, which can be downloaded there. [Operator Instructions]

Before we continue, I would like to state that any remarks during this presentation about the company’s business perspectives, projections, operational and financial goals are simply based on the directors’ beliefs and assumptions. They are based on information that is currently available for the company. Remarks about the future are not a guarantee of performance as they involve risks and assumptions and refer to future events that, therefore, depend on circumstances that may or may not occur. Investors should understand that the general economic conditions, industry conditions and other operating factors may affect the company’s future results and lead to results that differ materially from those expressed in these forward-looking statements.

After that disclaimer, we will begin the company’s presentation with Mr. Alexandre Nogueira, CEO, who will make his opening remarks; and then we will hear from Rodrigo Tostes, CFO and Investor Relations Officer, who will talk about the company’s results.

Mr. Alexandre will begin. Go ahead, sir.

Alexandre Ferreira
CEO & Member of Executive Board

Good morning, everyone, and welcome to

“The assertions and innuendos in the article are completely false,” an Alibaba representative said. “We question the motivation behind the anonymous leak, which the FT admits that they cannot verify.”

The Alibaba representative called the article a “malicious PR operation” that appears to “undermine President Trump’s recent trade deal with China”.

Alibaba employees, according to the report, also transferred knowledge about “zero-day” vulnerabilities to the PLA.

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Nov 15, 2025 14:33 (JST)