Latest Ratios: P/E Ratio -9.1x · EV/EBITDA N/A · ROE -1.8%. (2017–2025 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 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $13M | $19M | $39M | $48M | $324M | $55M | — | — | — | — |
| Enterprise Value | $25M | $32M | $36M | $39M | $332M | $75M | — | — | — | — |
| P/E Ratio → | -9.06 | — | 286.46 | 14.70 | 163.13 | 21.43 | — | — | — | — |
| P/S Ratio | 0.20 | 0.31 | 0.53 | 0.57 | 4.24 | 0.78 | — | — | — | — |
| P/B Ratio | 0.17 | 0.26 | 0.50 | 0.64 | 6.52 | 1.06 | — | — | — | — |
| P/FCF | — | — | 3.95 | — | 41.39 | — | — | — | — | — |
| P/OCF | — | — | 3.02 | — | 40.32 | — | — | — | — | — |
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 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.51 | 0.48 | 0.46 | 4.35 | 1.07 | — | — | — | — |
| EV / EBITDA | — | — | — | 12.29 | 89.56 | 22.40 | — | — | — | — |
| EV / EBIT | — | — | — | 10.26 | 88.58 | 16.56 | — | — | — | — |
| EV / FCF | — | — | 3.59 | — | 42.48 | — | — | — | — | — |
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 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 10.8% | 10.8% | 9.9% | 14.7% | 14.6% | 16.1% | 18.0% | 22.3% | 21.9% | 19.6% |
| Operating Margin | -5.0% | -5.0% | -2.3% | 2.9% | 3.8% | 3.7% | 7.5% | 12.8% | 13.6% | 10.3% |
| Net Profit Margin | -2.2% | -2.2% | 0.2% | 3.9% | 2.5% | 3.6% | 5.6% | 8.2% | 8.6% | 18.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -1.8% | -1.8% | 0.2% | 5.2% | 3.8% | 6.6% | 14.1% | 28.5% | 36.3% | 77.0% |
| ROA | -1.3% | -1.3% | 0.1% | 3.5% | 2.1% | 3.0% | 4.8% | 7.5% | 6.7% | 11.7% |
| ROIC | -2.9% | -2.9% | -1.8% | 3.0% | 3.4% | 3.0% | 5.9% | 10.7% | 10.4% | 6.8% |
| ROCE | -3.8% | -3.8% | -2.1% | 3.5% | 5.3% | 6.7% | 19.0% | 44.3% | 57.3% | 42.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.29 | 0.29 | 0.19 | 0.15 | 0.44 | 0.69 | 1.27 | 1.66 | 2.85 | 3.99 |
| Debt / EBITDA | — | — | — | 3.62 | 5.86 | 10.69 | 6.28 | 3.90 | 5.30 | 7.96 |
| Net Debt / Equity | — | 0.17 | -0.05 | -0.12 | 0.17 | 0.40 | 1.24 | 1.61 | 2.77 | 3.68 |
| Net Debt / EBITDA | — | — | — | -2.73 | 2.30 | 6.10 | 6.13 | 3.78 | 5.16 | 7.34 |
| Debt / FCF | — | — | -0.36 | — | 1.09 | — | 12.58 | 23.80 | 67.46 | — |
| Interest Coverage | — | — | — | 12.87 | 2.30 | 2.20 | 2.65 | 4.00 | 4.16 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.89 | 2.89 | 3.25 | 3.55 | 2.51 | 1.58 | 1.09 | 1.01 | 0.96 | 0.89 |
| Quick Ratio | 1.81 | 1.81 | 2.27 | 2.37 | 1.54 | 1.11 | 0.61 | 0.63 | 0.59 | 0.38 |
| Cash Ratio | 0.40 | 0.40 | 0.76 | 0.89 | 0.51 | 0.31 | 0.02 | 0.02 | 0.02 | 0.06 |
| Asset Turnover | — | 0.58 | 0.72 | 0.82 | 0.90 | 0.70 | 0.86 | 0.95 | 0.80 | 0.62 |
| Inventory Turnover | 2.13 | 2.13 | 2.87 | 2.70 | 2.62 | 2.59 | 2.33 | 2.85 | 2.13 | 1.16 |
| Days Sales Outstanding | — | 198.61 | 134.24 | 131.85 | 103.34 | 147.29 | 113.96 | 114.27 | 145.76 | 160.56 |
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 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 0.3% | 6.8% | 0.6% | 4.7% | — | — | — | — |
| FCF Yield | — | — | 25.3% | — | 2.4% | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $14M | $14M | $14M | $13M | $12M | $14M | $10M | $13M | $10M |
Cyclical demand and margin compression
As reported in financial filings, HUDI trades at a price-to-book ratio of 0.17, a valuation level that suggests the market is heavily discounting the company's asset base due to persistent negative earnings and a lack of clear growth catalysts in the current industrial cycle.
The current P/S multiple of 0.21 indicates that investors are assigning minimal value to the company's revenue stream, likely reflecting skepticism regarding the firm's ability to return to profitability. This valuation gap compared to larger, more integrated peers suggests that the market views HUDI as a high-risk entity rather than a viable long-term compounder.
Based on reported figures, HUDI's ROIC has trended into negative territory at -2.2% in 2025Q4, marking a significant decay from the 2.1% levels observed in 2022, which indicates that the company is currently destroying shareholder value rather than generating returns on its invested capital.
The decline in ROIC is primarily driven by the compression of operating margins, which have failed to cover the cost of maintaining the company's specialized manufacturing infrastructure. Investors should monitor whether management can optimize its asset base, as the current trend suggests that capital allocation is not yielding the necessary returns to justify ongoing investment.
According to recent financial statements, HUDI's cash conversion cycle has expanded to 158 days in 2025Q4, a significant increase from the 104 days reported in 2023Q4, which highlights growing inefficiencies in managing inventory and collecting payments from industrial clients in a cooling market.
The rise in the cash conversion cycle suggests that the company is increasingly reliant on working capital to sustain operations, which further pressures liquidity. The persistent length of the cycle compared to historical norms indicates that the company lacks the leverage to demand faster payment terms from its customers.
As indicated by the company's reported figures, HUDI maintains a debt-to-equity ratio of 0.29 as of 2025Q4, a conservative stance that provides a necessary, albeit finite, cushion against the volatility inherent in the cyclical stainless steel pipe and tube manufacturing industry.
While the low leverage profile is a positive signal for solvency, it does not compensate for the underlying operational losses. The lack of significant debt service obligations may allow the company to survive the current downturn, but it does not address the fundamental need for a more profitable product mix.
The price-to-book ratio is frequently misapplied to HUDI, as it obscures the reality that the company's book value is heavily tied to industrial machinery that may be subject to significant impairment if the current negative margin trend continues to persist over the coming quarters.
Investors should instead focus on the company's ability to generate positive free cash flow, as the book value provides a false sense of security in a business model where assets are highly specialized and potentially illiquid. Relying on P/B ignores the risk that the company's manufacturing assets may not be recoverable at their current carrying values.
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Quick answers to the most common questions about buying HUDI stock.
Huadi International Group Co., Ltd.'s current P/E ratio is -9.1x. The historical average is 66.4x.
Huadi International Group Co., Ltd.'s return on equity (ROE) is -1.8%. The historical average is 18.9%.
Based on historical data, Huadi International Group Co., Ltd. is trading at a P/E of -9.1x. Compare with industry peers and growth rates for a complete picture.
Huadi International Group Co., Ltd. has 10.8% gross margin and -5.0% operating margin.