Latest Ratios: P/E Ratio 2400.0x · EV/EBITDA 51.6x · ROE -0.1%. (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 | $24M | $18M | $36M | — | — | — | — |
| Enterprise Value | $21M | $15M | $30M | — | — | — | — |
| P/E Ratio → | 2400.00 | 1861.67 | — | — | — | — | — |
| P/S Ratio | 1.97 | 1.53 | 2.81 | — | — | — | — |
| P/B Ratio | 1.68 | 1.30 | 2.08 | — | — | — | — |
| 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 | — | 1.29 | 2.31 | — | — | — | — |
| EV / EBITDA | 51.64 | 38.42 | — | — | — | — | — |
| 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 | 45.9% | 45.9% | 43.7% | 46.7% | 56.3% | 51.9% | 48.3% |
| Operating Margin | -1.5% | -1.5% | -5.1% | 7.8% | 19.7% | 26.8% | 16.6% |
| Net Profit Margin | -0.1% | -0.1% | -3.7% | 6.0% | 17.7% | 23.5% | 12.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -0.1% | -0.1% | -2.9% | 6.2% | 20.2% | 39.2% | 14.2% |
| ROA | -0.0% | -0.0% | -1.7% | 3.7% | 10.9% | 18.3% | 6.2% |
| ROIC | -1.3% | -1.3% | -5.2% | 13.5% | 38.4% | 53.0% | 16.6% |
| ROCE | -1.1% | -1.1% | -3.5% | 7.0% | 18.2% | 32.5% | 12.2% |
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 | 0.16 | 0.16 | 0.15 | 0.16 | 0.25 | 0.40 | 0.57 |
| Debt / EBITDA | 5.67 | 5.67 | — | 1.92 | 1.09 | 0.97 | 2.62 |
| Net Debt / Equity | — | -0.21 | -0.37 | -0.50 | -0.61 | -0.50 | -0.17 |
| Net Debt / EBITDA | -7.24 | -7.24 | — | -6.03 | -2.69 | -1.19 | -0.80 |
| Debt / FCF | — | — | — | -22.15 | -2.76 | -1.08 | -1.35 |
| Interest Coverage | -2.91 | -2.91 | — | 7.00 | 89.99 | 24.69 | 5.35 |
Net cash position: cash ($5M) exceeds total debt ($2M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.94 | 1.94 | 1.86 | 2.22 | 2.32 | 1.97 | 1.79 |
| Quick Ratio | 1.59 | 1.59 | 1.66 | 1.95 | 2.14 | 1.77 | 1.58 |
| Cash Ratio | 0.69 | 0.69 | 0.85 | 1.29 | 1.71 | 1.20 | 0.93 |
| Asset Turnover | — | 0.52 | 0.43 | 0.53 | 0.62 | 0.68 | 0.48 |
| Inventory Turnover | 2.48 | 2.48 | 3.27 | 3.35 | 4.94 | 4.57 | 3.37 |
| Days Sales Outstanding | — | 120.86 | 100.26 | 96.77 | 68.55 | 95.54 | 158.11 |
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 | — | — | 1.4% | — | — | — | — |
| Payout Ratio | — | — | — | 149.0% | 57.2% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.0% | 0.1% | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 1.4% | — | — | — | — |
| Shares Outstanding | — | $16M | $16M | $16M | $16M | $16M | $16M |
Cyclical Project Revenue Volatility
Based on current market data, TRSG trades at an EV/EBITDA of 59.40, a valuation that appears disconnected from the company's recent negative operating margins and contracting revenue, suggesting investors are pricing in a speculative recovery rather than current fundamental performance or near-term earnings visibility.
The extreme P/E ratio of 2716.67 indicates that the market is currently unable to anchor the stock to traditional earnings-based valuation metrics. This valuation likely reflects a premium for the company's proprietary motor technology, yet it remains difficult to justify given the lack of consistent profitability and the cyclical nature of the semiconductor tooling industry.
As reported in financial statements, TRSG's ROIC has deteriorated from a peak of 16.9% in 2022Q4 to -2.5% in 2025Q4, illustrating a significant erosion in the company's ability to generate returns on invested capital as project-based margins fail to cover the underlying cost of engineering infrastructure.
The sharp decline in ROIC suggests that the company's recent capital deployments have not yielded the expected productivity gains. Investors should monitor whether this trend is a temporary byproduct of the current industry downturn or a structural issue related to the company's high fixed-cost engineering model.
According to historical data, TRSG's cash conversion cycle has fluctuated significantly, reaching 72 days in 2025Q4 compared to 48 days in 2023Q4, which highlights the inherent difficulty in managing receivables and inventory within an engineer-to-order manufacturing framework that is highly sensitive to project-specific delays.
The increase in the cash conversion cycle suggests that the company is taking longer to convert its work-in-progress into cash, which places additional strain on liquidity. This trend warrants further investigation into whether the company is experiencing collection delays from its Tier-1 and Tier-2 OEM customers.
The most commonly misapplied metric for TRSG is headline revenue growth, which obscures the underlying quality of the company's transition toward standardized motor sales by conflating them with lumpy, project-based tooling revenue that is subject to significant volatility and percentage-of-completion accounting adjustments.
Analysts should instead focus on the ratio of recurring component sales to total revenue, as this provides a clearer picture of the company's shift toward a more scalable business model. Relying solely on top-line growth figures risks misinterpreting a strategic pivot as a simple failure to capture market share.
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Quick answers to the most common questions about buying TRSG stock.
Tungray Technologies Inc Class A Ordinary Shares's current P/E ratio is 2400.0x. This places it at the 50th percentile of its historical range.
Tungray Technologies Inc Class A Ordinary Shares's current EV/EBITDA is 51.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 38.4x.
Tungray Technologies Inc Class A Ordinary Shares's return on equity (ROE) is -0.1%. The historical average is 12.8%.
Based on historical data, Tungray Technologies Inc Class A Ordinary Shares is trading at a P/E of 2400.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Tungray Technologies Inc Class A Ordinary Shares has 45.9% gross margin and -1.5% operating margin.
Tungray Technologies Inc Class A Ordinary Shares's Debt/EBITDA ratio is 5.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.