Lucas GC Limited

LGCLCIK 0001954694

Analytics Research this company

Financial snapshot

Revenue

Net income

Operating margin

Free cash flow

Total debt

Cash

Research

Filings

Open the filing explorer →

Recent filings load as you scroll to this section.

Analytical signals

How signals work →

Calculations over this company’s filings, each compared with a stated threshold. They indicate where to read more closely; they are analytical evidence, not conclusions, and none implies wrongdoing.

Effective tax rate

P-05 · Calculated

Elevated

FY 2025-12-31

The gap between the effective and the statutory tax rate, and whether it persists across three years.

ETR 21.2% vs 21% statutory — gap persistent across 2 of 3 years

Trend: flat

P-05 inputs
Input	Value
model score (0–100)	100.0
etr_by_year.2025-12-31	0.212
etr_by_year.2024-12-31	-0.3398
etr_by_year.2023-12-31	-0.1121
statutory_rate	0.21
gap_by_year.2025-12-31	-0.002
gap_by_year.2024-12-31	0.5498
gap_by_year.2023-12-31	0.3221
note	Low ETR can be fully legitimate; this flags persistence + magnitude for review.
stale	false
latest_filing_period	2025-12-31

Trend

20-F· 2026-04-20 Methodology

Earnings quality

P-01 · Calculated

Below threshold

FY 2025-12-31

Beneish M-Score -2.89 is below the reference levels used here

Trend: flat

How reported earnings relate to accruals and to changes in receivables, margins and asset quality.

P-01 inputs
Input	Value
model score (0–100)	17.3
m_score	-2.893
threshold	-1.78
ratios.DSRI	0.513
ratios.GMI	0.995
ratios.AQI	1.583
ratios.SGI	1.023
ratios.DEPI	1.124
ratios.SGAI	1
ratios.LVGI	0.902
ratios.TATA	-0.057
defaulted_to_neutral	SGAI
sloan_accruals	-0.0611
inputs.revenue_t	149043000
inputs.revenue_t1	145686000
inputs.total_assets_t	64897000
inputs.net_income_t	1399000
inputs.cfo_t	5070000
stale	false
latest_filing_period	2025-12-31

Trend

20-F· 2026-04-20 Methodology

Interest coverage

P-13 · Calculated

Below threshold

FY 2025-12-31

Interest coverage 1.05x, at or above 1.0x

Trend: flat

Whether operating earnings cover interest expense, and for how many consecutive years they did not.

P-13 inputs
Input	Value
model score (0–100)	0.0
icr_by_year.2025-12-31	1.049
icr_by_year.2024-12-31	2.112
icr_by_year.2023-12-31	10.38
consecutive_years_below_1	0
altman_z_double_prime	4.616
definitions.zombie	ICR<1 for 3+ consecutive FYs (BIS 2018)
definitions.z_distress	<1.1 distress, 1.1-2.6 gray, >2.6 safe
inputs.ebit_t	2814000
inputs.interest_expense_t	2683000
stale	false
latest_filing_period	2025-12-31

Trend

20-F· 2026-04-20 Methodology

Restatement indicators

P-12 · Calculated

Outside model range

FY 2025-12-31

F-Score 0.01: outside the range in which the model is defined

Calculated, not presented as a result

The calculation is outside what this model can support: a model input is outside its defined range (soft assets are outside 0 to 1 of total assets).

The raw calculation is kept under Details for audit. It is not shown as a level, a score, a ranking or a multiple of a base rate.

Trend: flat

How closely reported accruals and financing patterns resemble those of companies that later restated.

P-12 inputs
Input	Value
f_score	0.005
probability	0.00002
components.rsst	-0.0611
components.drec	-0.0661
components.dinv	null
components.soft	-1.4417
components.dcs	0.0503
components.droa	-0.0771
components.issue	0
model	Dechow et al. 2011, Model 1 (simplified RSST)
thresholds.elevated	1
thresholds.triggered	1.85
stale	false
latest_filing_period	2025-12-31
raw_result.score	0.2
raw_result.level	0
raw_result.headline	F-Score 0.01 — at or below the population base rate
validity.status	OUT_OF_RANGE
validity.reason	a model input is outside its defined range (soft assets are outside 0 to 1 of total assets)

Trend

20-F· 2026-04-20 Methodology

No stored result for Subsidiary jurisdictions, ESG disclosure support, Pension funding, Insider filing timing, Language change, Strategic-review language, Carbon-exposed assets. Some signals are computed on request, and others need inputs this company’s filings do not tag; a missing result is not a finding either way.

Methodology and sources

Financial figures come from SEC XBRL company facts (annual reports). Choose any evidence marker to see the filing behind a value.
Filing text comes from SEC EDGAR. Browse this company on EDGAR ↗
Signals are calculated by Stratum from those filings. Some use AI to read filing text, and every AI claim must quote the document verbatim or it is discarded. Full methodology

More tools: chat with the 10-K · generate an investigation memo