Latest Ratios: P/E Ratio 5.2x · EV/EBITDA N/A · ROE 3.9%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $452M | $108M | $9M | — | — | — | — |
| Enterprise Value | $424M | $-109712919 | $-3493488 | — | — | — | — |
| P/E Ratio → | 5.21 | 1.37 | — | — | — | — | — |
| P/S Ratio | 104.68 | 3.19 | 0.33 | — | — | — | — |
| P/B Ratio | 0.10 | 0.03 | 0.24 | — | — | — | — |
| 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 | FY 2020 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -3.24 | -0.13 | — | — | — | — |
| 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 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 29.6% | 29.6% | 47.2% | 56.2% | 52.7% | 49.5% | 42.7% |
| Operating Margin | -101.6% | -101.6% | -74.3% | 20.9% | 21.6% | 32.7% | 25.6% |
| Net Profit Margin | 232.8% | 232.8% | -77.5% | 20.7% | 19.5% | 32.1% | 33.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | 3.9% | 3.9% | -84.8% | 59.8% | 76.1% | 117.4% | 115.1% |
| ROA | 3.8% | 3.8% | -43.9% | 19.4% | 20.1% | 28.7% | 30.1% |
| ROIC | -1.3% | -1.3% | -69.7% | 31.8% | 41.0% | 78.6% | 108.3% |
| ROCE | -1.7% | -1.7% | -61.6% | 30.2% | 33.0% | 44.7% | 37.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.21 | 1.10 | 1.48 | 2.20 | 1.52 |
| Debt / EBITDA | — | — | — | 1.89 | 1.98 | 1.53 | 1.64 |
| Net Debt / Equity | — | -0.05 | -0.34 | 0.52 | 0.32 | 0.85 | -0.39 |
| Net Debt / EBITDA | — | — | — | 0.89 | 0.43 | 0.59 | -0.42 |
| Debt / FCF | — | — | — | 1.52 | 0.25 | 1.17 | -0.17 |
| Interest Coverage | — | — | — | 18.93 | 17.00 | 21.95 | — |
Net cash position: cash ($223M) exceeds total debt ($6M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 164.32 | 164.32 | 2.00 | 0.83 | 1.30 | 1.82 | 1.62 |
| Quick Ratio | 164.32 | 164.32 | 2.00 | 0.83 | 1.30 | 1.82 | 1.62 |
| Cash Ratio | 158.34 | 158.34 | 1.17 | 0.59 | 1.18 | 1.67 | 1.55 |
| Asset Turnover | — | 0.01 | 0.45 | 0.94 | 1.01 | 0.97 | 0.91 |
| Inventory Turnover | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 6.38 | 15.68 | 29.46 | 11.84 | 7.72 | 2.54 |
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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | 80.4% | 146.7% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | 19.2% | 72.9% | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $6M | $2M | $1M | $2M | $2M | $1M |
Unsustainable capital erosion
According to current market data, MFI trades at a P/S of 4.55, a multiple that appears disconnected from the firm's -77% net margin and suggests investors are pricing in a speculative recovery rather than the current reality of persistent, deep-seated operating losses and declining revenue.
The absence of a meaningful P/E or EV/EBITDA ratio underscores the market's skepticism regarding the company's path to profitability. Investors should monitor whether the forward EV/EBITDA of 3.24 is a realistic target or merely a reflection of overly optimistic assumptions regarding cost rationalization.
Based on reported financial statements, MFI's ROIC has collapsed from a peak of 39.7% in 2021Q4 to -55.3% in 2025Q2, indicating that the company is currently destroying shareholder value rather than compounding it through its core software development and platform maintenance activities.
This dramatic reversal suggests that the firm's R&D investments are failing to generate sufficient incremental returns to cover the associated fixed costs. The trend warrants further investigation into whether the current capital allocation strategy is fundamentally flawed or merely suffering from a temporary cyclical downturn in regional trading volumes.
As reported in recent filings, MFI's asset turnover has declined to 0.34 in 2025Q2, a significant drop from the 0.53 observed in 2023Q4, which suggests that the company's asset base is becoming increasingly unproductive as revenue fails to keep pace with the scale of its infrastructure.
The volatility in DSO, which reached 9 days in 2025Q2 after peaking at 62 days in 2023Q2, implies highly inconsistent collection cycles. This instability in working capital management may indicate that the company lacks leverage over its client base, potentially forcing it to accept unfavorable payment terms to maintain market presence.
According to the most recent balance sheet, MFI's current ratio has tightened to 1.36 in 2025Q2, down from 3.05 in 2024Q2, signaling that the company's ability to meet short-term obligations is weakening as cash reserves are consumed by ongoing operating deficits.
While the current ratio remains above unity, the rapid erosion of the cash position suggests that the firm's liquidity runway is shortening significantly. Investors should monitor whether the company will be forced to seek external financing, which could be dilutive given the current depressed valuation and negative profitability.
The P/S ratio is frequently misapplied to MFI, as it obscures the company's inability to convert revenue into gross profit, effectively ignoring the high direct costs of maintaining its specialized trading infrastructure and the resulting lack of operating leverage in the current business model.
Analysts should instead focus on the contribution margin per client or the ratio of R&D spend to recurring revenue to better assess the firm's true earning power. Relying on P/S in this context risks overestimating the company's value by failing to account for the structural costs required to sustain its niche market position.
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying MFI stock.
mF International Limited's current P/E ratio is 5.2x. The historical average is 1.4x. This places it at the 100th percentile of its historical range.
mF International Limited's return on equity (ROE) is 3.9%. The historical average is 47.9%.
Based on historical data, mF International Limited is trading at a P/E of 5.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
mF International Limited has 29.6% gross margin and -101.6% operating margin.