Latest Ratios: P/E Ratio 4.4x · EV/EBITDA 0.4x · ROE 28.8%. (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 | $2M | $3M | $9M | — | — | — |
| Enterprise Value | $1M | $2M | $9M | — | — | — |
| P/E Ratio → | 4.36 | 6.58 | — | — | — | — |
| P/S Ratio | 0.17 | 0.30 | 1.99 | — | — | — |
| P/B Ratio | 0.50 | 0.76 | 0.51 | — | — | — |
| P/FCF | — | — | 83.21 | — | — | — |
| P/OCF | — | — | 83.21 | — | — | — |
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 | — | 0.27 | 1.98 | — | — | — |
| EV / EBITDA | 0.41 | 0.76 | — | — | — | — |
| EV / EBIT | 0.41 | 0.76 | — | — | — | — |
| EV / FCF | — | — | 82.83 | — | — | — |
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 | 74.6% | 74.6% | 52.8% | 31.8% | 49.4% | 78.0% |
| Operating Margin | 34.9% | 34.9% | -10.9% | 18.0% | 26.8% | -86.1% |
| Net Profit Margin | 34.9% | 34.9% | -42.5% | 14.4% | 22.5% | -56.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | 28.8% | 28.8% | -17.1% | 65.3% | 155.6% | — |
| ROA | 27.1% | 27.1% | -14.9% | 45.2% | 101.7% | -3.2% |
| ROIC | 21.7% | 21.7% | -3.2% | 57.1% | 128.3% | -4.2% |
| ROCE | 28.7% | 28.7% | -4.4% | 81.4% | 183.6% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.01 | 0.17 | 0.03 | — |
| Debt / EBITDA | 0.01 | 0.01 | — | 0.25 | 0.03 | — |
| Net Debt / Equity | — | -0.08 | -0.00 | 0.14 | -0.06 | — |
| Net Debt / EBITDA | -0.09 | -0.09 | — | 0.21 | -0.06 | — |
| Debt / FCF | — | — | -0.37 | — | — | 439.82 |
| Interest Coverage | — | — | — | — | — | — |
Net cash position: cash ($306694) exceeds total debt ($29947)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 10.66 | 10.66 | 3.25 | 2.98 | 3.30 | 0.65 |
| Quick Ratio | 8.49 | 8.49 | 3.25 | 2.91 | 1.01 | 0.65 |
| Cash Ratio | 1.46 | 1.46 | 0.04 | 0.06 | 0.24 | 0.00 |
| Asset Turnover | — | 2.41 | 0.24 | 2.31 | 2.48 | 0.06 |
| Inventory Turnover | 5.09 | 5.09 | — | 75.43 | 0.28 | — |
| Days Sales Outstanding | — | 49.98 | 120.19 | 128.67 | 1.73 | 10.44 |
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 | 22.9% | 15.2% | — | — | — | — |
| FCF Yield | — | — | 1.2% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $823793 | $380419 | $300000 | $300000 | $300000 |
Extreme revenue volatility
Based on reported figures, TWG trades at a P/S of 0.18 and an EV/EBITDA of 0.43, which, according to recent financial statements, appear to reflect deep market skepticism regarding the sustainability of the company's luxury distribution model rather than a genuine undervaluation of its growth potential.
The extremely low valuation multiples suggest that the market is pricing the company as a distressed asset rather than a luxury brand owner. Investors should monitor whether these multiples are a result of the company's erratic revenue swings, which make traditional forward-looking valuation metrics unreliable and potentially misleading.
As reported in financial statements, TWG's ROIC has plummeted from a peak of 40.0% in 2023Q2 to a mere 2.4% in 2025Q4, indicating that the company is struggling to maintain its historical ability to compound capital effectively within the high-end food distribution sector.
The sharp decline in return on invested capital suggests that the company's asset base is failing to generate meaningful returns relative to the capital deployed. This trend warrants further investigation into whether the business model is structurally incapable of scaling without significant capital reinvestment that currently yields diminishing returns.
According to recent filings, TWG's cash conversion cycle has ballooned to 323 days in 2025Q4, a significant deterioration compared to the 68-day cycle observed in 2023Q2, suggesting that the company is facing mounting difficulties in converting its inventory and receivables into actual cash liquidity.
The lengthening of the cash conversion cycle, driven by high days sales outstanding and days inventory outstanding, implies that the company's distribution model is becoming increasingly inefficient. This suggests that the firm may be forced to hold high-value, perishable inventory for longer periods, increasing the risk of future write-downs.
Based on the company's unique business model, the most commonly misapplied metric is the inventory turnover ratio, which, as reported in financial statements, fails to account for the specific perishability and luxury branding of the caviar, thereby obscuring the true operational risks of the firm.
Analysts often treat TWG as a standard food distributor, but applying generic inventory turnover benchmarks ignores the high-value, niche nature of the product. A more appropriate metric would be a quality-adjusted inventory aging analysis, which would better reflect the risk of obsolescence inherent in the luxury caviar market.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying TWG stock.
Top Wealth Group Holding Limited Ordinary Shares's current P/E ratio is 4.4x. The historical average is 6.6x.
Top Wealth Group Holding Limited Ordinary Shares's current EV/EBITDA is 0.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 0.8x.
Top Wealth Group Holding Limited Ordinary Shares's return on equity (ROE) is 28.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 58.1%.
Based on historical data, Top Wealth Group Holding Limited Ordinary Shares is trading at a P/E of 4.4x. Compare with industry peers and growth rates for a complete picture.
Top Wealth Group Holding Limited Ordinary Shares has 74.6% gross margin and 34.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Top Wealth Group Holding Limited Ordinary Shares's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.