Latest Ratios: P/E Ratio -1.9x · EV/EBITDA 18.7x · ROE -21.0%. (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 | $110M | $108M | $130M | $200M | — |
| Enterprise Value | $330M | $328M | $313M | $343M | — |
| P/E Ratio → | -1.86 | — | — | — | — |
| P/S Ratio | 1.00 | 0.98 | 1.46 | 1.97 | — |
| P/B Ratio | 0.45 | 0.41 | 0.38 | 0.46 | — |
| 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 | — | 2.98 | 3.52 | 3.39 | — |
| EV / EBITDA | 18.67 | 18.54 | — | — | — |
| EV / EBIT | 26.49 | — | — | — | — |
| 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 | 19.3% | 19.3% | -28.8% | -28.6% | -17.9% |
| Operating Margin | 11.3% | 11.3% | -13.6% | -31.6% | -65.0% |
| Net Profit Margin | -58.3% | -58.3% | -97.6% | -194.1% | -37.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | -21.0% | -21.0% | -22.3% | -27.9% | -3.7% |
| ROA | -10.9% | -10.9% | -13.6% | -23.5% | -3.6% |
| ROIC | 1.8% | 1.8% | -1.6% | -3.1% | — |
| ROCE | 2.1% | 2.1% | -2.4% | -3.9% | -6.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 1.02 | 1.02 | 0.63 | 0.45 | 0.00 |
| Debt / EBITDA | 15.27 | 15.27 | — | — | — |
| Net Debt / Equity | — | 0.83 | 0.53 | 0.33 | -0.00 |
| Net Debt / EBITDA | 12.44 | 12.44 | — | — | — |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | -2.85 | -2.85 | -10.37 | -7.54 | 0.14 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | — | — | 0.38 | 14.56 | 3.43 |
| Quick Ratio | — | — | 0.38 | 4.49 | 3.43 |
| Cash Ratio | — | — | 0.13 | 2.81 | 0.15 |
| Asset Turnover | — | 0.19 | 0.15 | 0.15 | 0.10 |
| Inventory Turnover | — | — | — | 0.72 | — |
| 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 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 | 7.2% | 7.4% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 7.2% | 7.4% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $13M | $13M | $13M | $13M |
Prolonged liquidation duration risk
According to recent market data, STHO trades at a price-to-book ratio of 0.45, which suggests that investors are applying a significant discount to the company's reported net asset value due to the inherent risks associated with its long-dated and uncertain land monetization timeline.
The negative trailing P/E ratio of -1.87 confirms that the market is not pricing STHO as a traditional going-concern entity, but rather as a distressed asset play. This valuation gap implies that the market expects further value erosion or significant delays in the realization of cash from its legacy holdings.
Based on reported financial statements, STHO's ROIC has remained consistently negative or near-zero, with a -1.0% figure in 2026Q1, indicating that the company is failing to generate a positive return on the capital deployed into its land development and infrastructure projects.
The inability to achieve positive returns on invested capital suggests that the costs of maintaining and developing these legacy assets are currently outpacing the economic value created by their eventual sale. Investors should monitor whether management can improve capital efficiency as the portfolio shrinks, or if the current structure inherently destroys shareholder value.
As reported in recent filings, STHO's asset turnover ratio has stagnated at approximately 0.04, reflecting the extremely slow velocity at which the company is able to convert its land holdings into realized revenue through transactional sales to third-party homebuilders.
The lack of meaningful improvement in asset turnover highlights the structural difficulty of managing a portfolio that is inherently illiquid and project-dependent. This low efficiency suggests that the company's capital remains trapped in long-term development cycles, which may exacerbate the impact of ongoing corporate overhead on the bottom line.
Data from recent SEC filings indicates that STHO's debt-to-equity ratio has trended upward to 0.86 in 2026Q1, signaling that the company is increasing its reliance on debt financing even as its total asset base continues to shrink through the liquidation process.
This rising leverage, coupled with negative interest coverage of -1.37, suggests that the company's ability to service its debt obligations is becoming increasingly precarious. Investors should be concerned that the company may be forced to accelerate asset sales at unfavorable prices to meet debt service requirements, further eroding potential shareholder value.
The price-to-earnings ratio is the most commonly misapplied metric for STHO, as it obscures the company's true economic reality by focusing on accounting net income that is heavily distorted by non-cash impairment charges and the lumpy, non-recurring nature of land development revenue.
Instead of P/E, analysts should focus on a sum-of-the-parts analysis based on the estimated net realizable value of the land parcels and the remaining loan portfolio. Relying on earnings-based multiples for a liquidation vehicle like STHO leads to a fundamental misunderstanding of the company's value, which is derived from asset exit proceeds rather than operational profitability.
Includes 30+ ratios · 4 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying STHO stock.
Star Holdings's current P/E ratio is -1.9x. This places it at the 50th percentile of its historical range.
Star Holdings's current EV/EBITDA is 18.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.5x.
Star Holdings's return on equity (ROE) is -21.0%. The historical average is -18.7%.
Based on historical data, Star Holdings is trading at a P/E of -1.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Star Holdings has 19.3% gross margin and 11.3% operating margin. Operating margin between 10-20% is typical for established companies.
Star Holdings's Debt/EBITDA ratio is 15.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.