Latest Ratios: P/E Ratio -0.0x · EV/EBITDA N/A · ROE -101.8%. (2022–2025 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 |
|---|---|---|---|---|---|
| Market Cap | $44783 | $449912 | $25M | — | — |
| Enterprise Value | $-213578 | $-1575818 | $3M | — | — |
| P/E Ratio → | -0.01 | — | — | — | — |
| P/S Ratio | 0.01 | 0.01 | 0.68 | — | — |
| P/B Ratio | 0.01 | 0.02 | 1.17 | — | — |
| 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 |
|---|---|---|---|---|---|
| EV / Revenue | — | -0.03 | 0.07 | — | — |
| 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 |
|---|---|---|---|---|---|
| Gross Margin | 49.5% | 49.5% | 27.2% | 38.4% | 27.8% |
| Operating Margin | -30.4% | -30.4% | -49.3% | 15.4% | -3.3% |
| Net Profit Margin | -49.3% | -49.3% | -49.6% | 14.4% | -0.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | -101.8% | -101.8% | -604.3% | — | — |
| ROA | -44.8% | -44.8% | -42.1% | 33.0% | -0.5% |
| ROIC | -98.5% | -98.5% | — | — | — |
| ROCE | -58.7% | -58.7% | -426.4% | — | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.19 | 0.19 | 0.94 | — | — |
| Debt / EBITDA | — | — | — | 0.74 | 3.52 |
| Net Debt / Equity | — | -0.08 | -1.04 | — | — |
| Net Debt / EBITDA | — | — | — | 0.45 | 3.15 |
| Debt / FCF | — | — | — | 0.82 | 2.38 |
| Interest Coverage | -32.91 | -32.91 | -7.93 | 13.82 | 0.85 |
Net cash position: cash ($7M) exceeds total debt ($5M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 1.80 | 1.80 | 1.45 | 0.46 | 0.25 |
| Quick Ratio | 1.80 | 1.80 | 1.45 | 0.46 | 0.25 |
| Cash Ratio | 0.44 | 0.44 | 1.05 | 0.10 | 0.04 |
| Asset Turnover | — | 1.12 | 0.58 | 2.13 | 1.90 |
| Inventory Turnover | — | — | — | — | — |
| Days Sales Outstanding | — | 81.19 | 80.54 | 81.87 | 63.20 |
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 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $24857 | $146880 | $145250 | $145250 |
Liquidity and solvency strain
According to recent market data, PMAX trades at a P/S ratio of 0.01, reflecting a market valuation that appears to heavily discount the company's inability to generate positive earnings, as evidenced by the lack of a meaningful P/E ratio in the current fiscal environment.
The extremely low P/S multiple suggests that investors are pricing the company as a distressed asset rather than a growth-oriented service provider. This valuation implies that the market remains skeptical of the company's ability to convert its 31.27% revenue growth into sustainable shareholder value.
As reported in financial statements, PMAX maintains a gross margin of 45.7%, yet the company's operating margin of -30.37% suggests that high administrative overhead and fixed costs continue to erode the potential for bottom-line profitability in the competitive Hong Kong financial printing sector.
The significant gap between gross and operating margins indicates that the company has not yet achieved the necessary scale to absorb its fixed cost base. Investors should monitor whether management can implement cost-saving measures, such as automation, to bridge this structural profitability gap.
Based on reported figures, PMAX's ROIC has shown extreme volatility, swinging from -90.9% in 2025Q2 to 19.6% in 2025Q4, which suggests that the company's ability to generate returns on invested capital is highly sensitive to project-based revenue cycles and inconsistent operational performance.
The erratic nature of these returns highlights the difficulty in compounding capital within a business model that relies heavily on the timing of capital market transactions. The negative ROE trends observed over recent periods further underscore the ongoing destruction of shareholder value.
Data from recent filings indicates that PMAX's asset turnover ratio of 0.46 in 2025Q4 reflects a low level of efficiency in utilizing its asset base to generate revenue, which is consistent with the company's struggle to optimize its high-touch service model.
The variability in DSO, which reached 77 days in 2024Q4, suggests that the company may face challenges in collecting receivables from its client base in a timely manner. This inefficiency in working capital management places additional pressure on the company's already constrained liquidity position.
As reported in quarterly balance sheets, PMAX's current ratio of 1.80 in 2025Q4 provides a modest liquidity buffer, yet the company's reliance on project-based cash inflows leaves it vulnerable to sudden market downturns or delays in major IPO-related service contracts.
While the current ratio appears adequate on the surface, the underlying cash burn and persistent net losses suggest that the company's liquidity position could deteriorate rapidly. Investors should remain cautious regarding the company's ability to meet its short-term obligations without further capital injections.
The P/S ratio is frequently misapplied to PMAX, as it obscures the company's inability to convert top-line revenue into operating profit, failing to account for the high fixed-cost structure inherent in the specialized financial typesetting and bilingual regulatory compliance service industry.
Instead of relying on P/S, analysts should focus on the company's operating cash flow and the sustainability of its client retention rates. The current valuation model likely ignores the risk that the company's core service offerings could be commoditized by technological advancements, rendering revenue growth less meaningful.
Includes 30+ ratios · 4 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying PMAX stock.
Powell Max Limited Class A Ordinary Shares's current P/E ratio is -0.0x. This places it at the 50th percentile of its historical range.
Powell Max Limited Class A Ordinary Shares's return on equity (ROE) is -101.8%. The historical average is -101.8%.
Based on historical data, Powell Max Limited Class A Ordinary Shares is trading at a P/E of -0.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Powell Max Limited Class A Ordinary Shares has 49.5% gross margin and -30.4% operating margin.