Latest Ratios: P/E Ratio 38.4x · EV/EBITDA 36.3x · ROE 14.9%. (2005–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $153M | — | — | — | — | — | — | — | — | — | — |
| Enterprise Value | $148M | — | — | — | — | — | — | — | — | — | — |
| P/E Ratio → | 38.40 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.69 | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 5.32 | — | — | — | — | — | — | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | 1372.66 | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | 36.31 | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.6% | 75.6% | 76.3% | 72.9% | 70.1% | 67.4% | 66.3% | 67.1% | 68.0% | 67.4% | 68.1% |
| Operating Margin | -1.2% | -1.2% | 9.7% | 8.9% | 35.4% | 31.3% | 27.1% | 26.1% | 25.2% | 23.9% | 23.7% |
| Net Profit Margin | 4.2% | 4.2% | 8.7% | 5.4% | 22.4% | 19.6% | 19.4% | 12.2% | 12.0% | 11.0% | 11.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.9% | 14.9% | 28.0% | 0.1% | 18.3% | 17.3% | 18.4% | 12.3% | 11.9% | 10.3% | 9.8% |
| ROA | 8.1% | 8.1% | 14.5% | 0.0% | 8.9% | 8.0% | 7.9% | 5.1% | 4.9% | 5.0% | 5.9% |
| ROIC | -4.1% | -4.1% | 35.2% | 0.1% | 15.9% | 12.3% | 10.7% | 10.9% | 10.4% | 9.4% | 9.0% |
| ROCE | -2.9% | -2.9% | 22.8% | 0.1% | 16.4% | 14.4% | 12.5% | 12.4% | 11.5% | 12.6% | 15.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.25 | 0.25 | 0.31 | 0.41 | 0.12 | 0.60 | 0.78 | 0.84 | 0.81 | 0.80 | 0.79 |
| Debt / EBITDA | 1.73 | 1.73 | 0.71 | 0.99 | 0.28 | 1.45 | 1.87 | 1.81 | 1.77 | 1.81 | 1.82 |
| Net Debt / Equity | — | -0.19 | -0.30 | -0.38 | 0.12 | 0.60 | 0.78 | 0.83 | 0.81 | 0.80 | — |
| Net Debt / EBITDA | -1.32 | -1.32 | -0.69 | -0.93 | 0.28 | 1.45 | 1.87 | 1.81 | 1.77 | 1.81 | 1.82 |
| Debt / FCF | — | — | -8.15 | -2.96 | 0.35 | 2.16 | 6.58 | 5.21 | 5.38 | 4.51 | 5.21 |
| Interest Coverage | — | — | — | — | 7.49 | 5.82 | 4.85 | 4.69 | 4.66 | 4.47 | 4.48 |
Net cash position: cash ($12M) exceeds total debt ($7M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.98 | 1.98 | 1.51 | 1.47 | 0.73 | 0.81 | 0.81 | 0.61 | 0.66 | 0.82 | 0.65 |
| Quick Ratio | 1.98 | 1.98 | 1.51 | 1.47 | 0.73 | 0.81 | 0.81 | 0.61 | 0.66 | 0.82 | 0.65 |
| Cash Ratio | 1.47 | 1.47 | 1.20 | 1.25 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 |
| Asset Turnover | — | 1.78 | 1.56 | 1.64 | 0.40 | 0.41 | 0.41 | 0.42 | 0.42 | 0.39 | 0.55 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 10.76 | 12.99 | 8.54 | 23.00 | 23.47 | 27.58 | 28.68 | 28.01 | 30.56 | 30.77 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | 87.6% | 76.6% | 60.4% | 119.8% | 125.7% | 144.3% | 137.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.6% | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $60M | $12M | $12M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
High User Acquisition Costs
Based on current market data, CTW trades at a P/E of 37.77 and an EV/EBITDA of 35.69, suggesting that investors are pricing in significant future expansion rather than current earnings, which warrants caution given the company's recent history of volatile operating margins and negative free cash flow.
The elevated valuation multiples appear to be predicated on the scalability of the G123 platform rather than immediate bottom-line performance. Investors should monitor whether this premium can be sustained if the company fails to convert its rapid top-line growth into consistent, positive free cash flow.
As reported in recent financial statements, CTW's ROIC has fluctuated, reaching 6.6% in 2025Q2, which indicates that the company is struggling to generate returns on invested capital that meaningfully exceed the cost of capital required to fund its aggressive user acquisition and platform development strategies.
The trend in ROIC suggests that while the company is scaling, the efficiency of that capital deployment is inconsistent. This volatility implies that the business model's reliance on high-cost marketing may be diluting the returns generated by its successful IP-based gaming titles.
According to the latest quarterly data, CTW's asset turnover ratio of 1.09 reflects a business model that is increasingly asset-heavy relative to its revenue base, suggesting that the company's efforts to scale the G123 platform are requiring significant investment in infrastructure and development that has yet to fully mature.
The sharp increase in DSO compared to historical levels warrants further investigation into the company's collection cycles and B2B service segment performance. This shift may indicate that the company is extending more favorable terms to partners, which could further strain liquidity if not managed effectively.
Investors frequently misapply the net income metric to evaluate CTW's performance, which obscures the reality that the company's 4.24% net margin is often bolstered by non-operating items rather than core operational efficiency, as evidenced by the persistent divergence between reported earnings and negative operating cash flow.
Relying on net income ignores the significant cash burn associated with user acquisition and the potential for accounting adjustments to mask underlying operational challenges. A more accurate assessment of the company's health should prioritize operating cash flow and FCF margins to better understand the sustainability of its growth.
Includes 30+ ratios · 18 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CTW stock.
CTW Cayman Class A Ordinary Shares's current P/E ratio is 38.4x. This places it at the 50th percentile of its historical range.
CTW Cayman Class A Ordinary Shares's current EV/EBITDA is 36.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
CTW Cayman Class A Ordinary Shares's return on equity (ROE) is 14.9%. The historical average is 44.4%.
Based on historical data, CTW Cayman Class A Ordinary Shares is trading at a P/E of 38.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
CTW Cayman Class A Ordinary Shares has 75.6% gross margin and -1.2% operating margin.
CTW Cayman Class A Ordinary Shares's Debt/EBITDA ratio is 1.7x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.