Latest Ratios: P/E Ratio -0.4x · EV/EBITDA N/A · ROE -277.8%. (2021–2025 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 |
|---|---|---|---|---|---|---|
| Market Cap | $10M | $256M | — | — | — | — |
| Enterprise Value | $16M | $295M | — | — | — | — |
| P/E Ratio → | -0.39 | — | — | — | — | — |
| P/S Ratio | 0.06 | 0.23 | — | — | — | — |
| P/B Ratio | 1.20 | 4.45 | — | — | — | — |
| 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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.26 | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — |
| 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 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Gross Margin | 3.3% | 3.3% | 4.2% | 5.5% | 12.2% | 13.6% |
| Operating Margin | -15.6% | -15.6% | 0.4% | -1.1% | -13.5% | -17.7% |
| Net Profit Margin | -15.4% | -15.4% | 0.7% | -1.1% | -8.4% | -55.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | -277.8% | -277.8% | 8.6% | -16.2% | -91.7% | — |
| ROA | -49.9% | -49.9% | 1.9% | -3.0% | -10.4% | -32.1% |
| ROIC | -135.4% | -135.4% | 3.0% | -6.1% | -18.3% | -10.2% |
| ROCE | -269.1% | -269.1% | 5.4% | -16.3% | -147.8% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 1.09 | 1.09 | 0.52 | 0.52 | 4.51 | — |
| Debt / EBITDA | — | — | 2.85 | 8.69 | — | — |
| Net Debt / Equity | — | 0.68 | 0.46 | 0.35 | 4.04 | — |
| Net Debt / EBITDA | — | — | 2.52 | 5.78 | — | — |
| Debt / FCF | — | — | 7.18 | — | — | — |
| Interest Coverage | -132.51 | -132.51 | 7.29 | -8.81 | -821.06 | -0.39 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 1.12 | 1.12 | 1.19 | 1.15 | 0.78 | 0.57 |
| Quick Ratio | 1.11 | 1.11 | 1.19 | 1.15 | 0.78 | 0.57 |
| Cash Ratio | 0.07 | 0.07 | 0.02 | 0.05 | 0.08 | 0.04 |
| Asset Turnover | — | 2.89 | 2.69 | 1.99 | 1.33 | 0.58 |
| Inventory Turnover | 341.28 | 341.28 | — | — | — | — |
| Days Sales Outstanding | — | 99.58 | 116.50 | 144.09 | 163.81 | 352.03 |
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 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $8M | $495058 | $495058 | $495058 | $479462 |
Liquidity and margin compression
Based on reported figures, LZMH trades at a P/S ratio of 0.06, which appears to reflect the market's skepticism regarding the company's ability to convert its $1.13 billion in top-line revenue into sustainable earnings, given the persistent negative net margin of -15.37% observed in recent financial statements.
The extremely low P/S multiple suggests that investors are pricing the firm as a distressed asset rather than a high-growth technology provider. This valuation discount appears justified when considering that the company's revenue growth is not currently translating into any meaningful bottom-line contribution, implying that the market is heavily discounting the durability of its transaction-based business model.
As reported in financial statements, LZMH operates with a razor-thin 3.3% gross margin, indicating that the cost of goods sold consumes nearly the entire revenue stream and suggesting that the firm functions more like a low-margin wholesaler than a high-tech software provider with scalable margins.
The -15.59% operating margin highlights that fixed administrative and R&D overheads significantly outpace the gross profit generated, suggesting the company has yet to achieve the necessary economies of scale. Investors should monitor whether the current 37.21% revenue growth can eventually lead to margin expansion, or if the cost of customer acquisition will permanently suppress profitability.
According to recent SEC filings, LZMH maintains a cash position of $23.47 million against $1.13 billion in annual revenue, which suggests a precarious liquidity buffer that represents less than 3% of total turnover, indicating a highly constrained working capital cycle for the firm's current operational scale.
This minimal cash cushion relative to the massive scale of operations warrants further investigation into the company's ability to sustain daily operations without immediate access to external financing. The current liquidity position appears vulnerable to any disruption in the timing of merchant settlements or hardware procurement cycles.
As indicated by the provided financial data, the company's reliance on gross revenue recognition likely masks the true economic value of its operations, as the reported $1.13 billion figure may significantly overstate the actual cash-generating potential retained by the business after accounting for merchant settlements and hardware procurement.
The most commonly misapplied metric for this business model is the top-line revenue figure, which obscures the fact that the company acts more as a distribution agent than a high-margin service provider. Analysts should instead focus on net commission revenue or take-rates, as these metrics would provide a more accurate representation of the company's true earning power and operational efficiency.
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Quick answers to the most common questions about buying LZMH stock.
LZ Technology Holdings Limited Class B Ordinary Shares's current P/E ratio is -0.4x. This places it at the 50th percentile of its historical range.
LZ Technology Holdings Limited Class B Ordinary Shares's return on equity (ROE) is -277.8%. The historical average is -94.3%.
Based on historical data, LZ Technology Holdings Limited Class B Ordinary Shares is trading at a P/E of -0.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
LZ Technology Holdings Limited Class B Ordinary Shares has 3.3% gross margin and -15.6% operating margin.