Latest Ratios: P/E Ratio -34.7x · EV/EBITDA N/A · ROE 2.2%. (2020–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Market Cap | $29M | $27M | $79M | $79M | — | — |
| Enterprise Value | $32M | $30M | $81M | $79M | — | — |
| P/E Ratio → | -34.72 | — | 49.91 | 540.36 | — | — |
| P/S Ratio | — | — | — | — | — | — |
| P/B Ratio | 2.35 | 2.18 | 1.56 | 1.37 | — | — |
| P/FCF | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — |
| EV / EBITDA | — | — | 36.64 | — | — | — |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| ROE | 2.2% | 2.2% | 3.0% | 0.3% | -0.2% | -4.2% |
| ROA | 1.8% | 1.8% | 2.7% | 0.2% | -0.2% | -1.1% |
| ROIC | -2.1% | -2.1% | -1.2% | -1.4% | -0.1% | — |
| ROCE | -2.8% | -2.8% | -1.5% | -1.7% | -0.2% | -4.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.24 | 0.24 | 0.04 | 0.01 | — | 2.99 |
| Debt / EBITDA | — | — | 0.81 | — | — | 98.44 |
| Net Debt / Equity | — | 0.24 | 0.03 | 0.01 | -0.02 | 1.52 |
| Net Debt / EBITDA | — | — | 0.80 | — | — | 50.04 |
| Debt / FCF | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Current Ratio | 0.07 | 0.07 | 0.03 | 0.07 | 76.40 | 0.49 |
| Quick Ratio | 0.07 | 0.07 | 0.03 | 0.07 | 76.40 | 0.49 |
| Cash Ratio | 0.00 | 0.00 | 0.01 | 0.01 | 76.20 | 0.49 |
| Asset Turnover | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 2.0% | 0.2% | — | — |
| FCF Yield | — | — | — | — | — | — |
| Buyback Yield | 100.0% | — | — | — | — | — |
| Total Shareholder Yield | 100.0% | — | — | — | — | — |
| Shares Outstanding | — | $2M | $7M | $8M | $8M | $2M |
Imminent Liquidation or Delisting
According to recent financial data, GDST's P/E ratio of -34.72 and P/B of 2.35 are largely meaningless metrics, as the company lacks operational revenue and maintains a shell structure that renders traditional valuation multiples ineffective for assessing the intrinsic value of the underlying acquisition vehicle.
The negative P/E ratio is a byproduct of persistent administrative burn rather than operational performance, suggesting that investors are pricing the vehicle based on the speculative probability of a merger rather than fundamental earnings. The P/B ratio of 2.35 warrants caution, as it likely reflects the accounting treatment of warrant liabilities rather than tangible asset backing, which has been severely eroded over the extended search period.
Based on reported financial statements, the company's current ratio has deteriorated to a precarious 0.01 as of 2025Q3, indicating that the firm lacks the necessary liquid assets to cover its immediate administrative and regulatory obligations without continued reliance on external sponsor support or further capital infusions.
This liquidity position suggests that the company is effectively operating on a day-to-day basis, with minimal buffer to withstand even minor regulatory or legal cost overruns. Investors should monitor the reliance on sponsor-backed loans, as the inability to maintain a healthy current ratio may force an accelerated liquidation if the sponsor chooses to cease funding.
As indicated by the reported D/E ratio of 0.24%, GDST maintains a low debt profile, yet this figure is misleading because it fails to account for the significant off-balance-sheet liabilities and the potential for future dilution inherent in the SPAC's capital structure as it nears its deadline.
While the low debt-to-equity ratio might appear healthy in a traditional industrial context, for a shell company, it suggests limited access to institutional credit markets and a heavy dependence on sponsor-provided capital. This lack of leverage may actually be a sign of weakness, indicating that the vehicle has not secured the necessary bridge financing required to finalize a meaningful business combination.
Analysts frequently misapply standard profitability ratios like ROE or Net Margin to GDST, which obscures the reality that these figures are driven by non-operating warrant liability adjustments rather than the company's ability to generate sustainable returns on capital through its core business activities.
Using ROE to evaluate a shell company is fundamentally flawed because the denominator is shrinking due to accumulated losses, creating a false sense of efficiency. Instead of traditional profitability metrics, investors should focus on the 'cash burn rate' and the 'trust account retention percentage' to gauge the true viability of the acquisition vehicle.
Includes 30+ ratios · 5 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 GDST stock.
Goldenstone Acquisition Limited's current P/E ratio is -34.7x. The historical average is 49.9x.
Goldenstone Acquisition Limited's return on equity (ROE) is 2.2%. The historical average is 0.2%.
Based on historical data, Goldenstone Acquisition Limited is trading at a P/E of -34.7x. Compare with industry peers and growth rates for a complete picture.