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REF Holdings Limited (1631) Ratios
REF Holdings Limited Ratios
HK:1631's free cash flow for Q2 2026 was $16.34M. For the 2026 fiscal year, HK:1631's free cash flow was decreased by $-1.69M and operating cash flow was $18.03M. See a summary of the company’s cash flow.
| Ratios | Dec 25 | Dec 24 | Dec 23 | Dec 22 | Dec 21 |
|---|---|---|---|---|---|
| Liquidity Ratios | |||||
| Current Ratio | 2.66 | 3.41 | 2.82 | 2.61 | 3.26 |
| Quick Ratio | 2.66 | 3.42 | 2.83 | 2.63 | 3.30 |
| Cash Ratio | 1.96 | 2.36 | 1.18 | 0.43 | 2.78 |
| Solvency Ratio | 0.51 | 0.57 | 1.12 | 0.73 | 0.43 |
| Operating Cash Flow Ratio | 0.92 | 0.72 | 1.18 | 0.53 | 0.63 |
| Short-Term Operating Cash Flow Coverage | 1.80 | 0.00 | 4.73 | -1.88 | 1.57 |
| Net Current Asset Value | $ 51.99M | $ 34.26M | $ 54.66M | $ 57.34M | $ 78.85M |
| Leverage Ratios | |||||
| Debt-to-Assets Ratio | 0.18 | 0.29 | 0.08 | 0.17 | 0.20 |
| Debt-to-Equity Ratio | 0.27 | 0.46 | 0.12 | 0.26 | 0.30 |
| Debt-to-Capital Ratio | 0.21 | 0.31 | 0.11 | 0.20 | 0.23 |
| Long-Term Debt-to-Capital Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial Leverage Ratio | 1.49 | 1.57 | 1.43 | 1.49 | 1.51 |
| Debt Service Coverage Ratio | 1.09 | 16.72 | 4.34 | -3.50 | 1.63 |
| Interest Coverage Ratio | 2.35 | 4.28 | 21.06 | 10.55 | 20.02 |
| Debt to Market Cap | 0.14 | 0.00 | 0.11 | -0.11 | 0.10 |
| Interest Debt Per Share | 0.09 | 0.15 | 0.04 | 0.10 | 0.17 |
| Net Debt to EBITDA | -2.15 | -0.65 | -0.73 | 0.21 | -2.52 |
| Profitability Margins | |||||
| Gross Profit Margin | 50.51% | 52.72% | 50.99% | 51.06% | 53.45% |
| EBIT Margin | 3.79% | 7.90% | 11.69% | 10.81% | 8.85% |
| EBITDA Margin | 23.31% | 27.18% | 30.65% | 29.33% | 25.26% |
| Operating Profit Margin | 3.79% | 6.69% | 10.24% | 8.72% | 12.64% |
| Pretax Profit Margin | 3.64% | 6.37% | 11.22% | 9.99% | 8.23% |
| Net Profit Margin | 3.22% | 5.33% | 9.44% | 8.61% | 6.39% |
| Continuous Operations Profit Margin | 3.22% | 5.33% | 9.44% | 8.61% | 6.39% |
| Net Income Per EBT | 88.49% | 83.63% | 84.18% | 86.11% | 77.62% |
| EBT Per EBIT | 96.03% | 95.28% | 109.56% | 114.60% | 65.10% |
| Return on Assets (ROA) | 2.41% | 4.52% | 11.24% | 7.55% | 4.10% |
| Return on Equity (ROE) | 3.59% | 7.11% | 16.10% | 11.23% | 6.19% |
| Return on Capital Employed (ROCE) | 3.94% | 6.97% | 17.25% | 10.54% | 10.38% |
| Return on Invested Capital (ROIC) | 2.91% | 5.05% | 12.02% | 8.45% | 6.58% |
| Return on Tangible Assets | 2.45% | 4.59% | 11.46% | 7.65% | 4.14% |
| Earnings Yield | 2.28% | 10.11% | 16.34% | 11.18% | 4.43% |
| Efficiency Ratios | |||||
| Receivables Turnover | 4.17 | 4.82 | 5.39 | 5.02 | 8.14 |
| Payables Turnover | 58.64 | 56.19 | 25.27 | 21.61 | 24.17 |
| Inventory Turnover | 0.00 | -250.21 | -221.88 | -65.99 | -44.09 |
| Fixed Asset Turnover | 4.17 | 2.89 | 8.89 | 3.88 | 2.60 |
| Asset Turnover | 0.75 | 0.85 | 1.19 | 0.88 | 0.64 |
| Working Capital Turnover Ratio | 1.61 | 1.90 | 2.05 | 1.53 | 0.92 |
| Cash Conversion Cycle | 81.29 | 67.76 | 51.67 | 50.34 | 21.48 |
| Days of Sales Outstanding | 87.51 | 75.71 | 67.76 | 72.76 | 44.87 |
| Days of Inventory Outstanding | 0.00 | -1.46 | -1.65 | -5.53 | -8.28 |
| Days of Payables Outstanding | 6.22 | 6.50 | 14.45 | 16.89 | 15.10 |
| Operating Cycle | 87.51 | 74.26 | 66.12 | 67.23 | 36.59 |
| Cash Flow Ratios | |||||
| Operating Cash Flow Per Share | 0.13 | 0.07 | 0.14 | 0.08 | 0.11 |
| Free Cash Flow Per Share | 0.12 | 0.07 | 0.14 | 0.08 | 0.06 |
| Dividend Paid and CapEx Coverage Ratio | 131.74 | 62.36 | 0.94 | 0.42 | 0.32 |
| Capital Expenditure Coverage Ratio | 131.74 | 62.36 | 267.90 | 34.24 | 2.15 |
| Operating Cash Flow Coverage Ratio | 1.44 | 0.47 | 4.23 | 0.85 | 0.70 |
| Operating Cash Flow to Sales Ratio | 0.35 | 0.16 | 0.29 | 0.17 | 0.22 |
| Free Cash Flow Yield | 24.33% | 29.77% | 50.27% | 20.94% | 8.01% |
| Valuation Ratios | |||||
| Price-to-Earnings (P/E) Ratio | 43.97 | 9.89 | 6.12 | 8.94 | 22.55 |
| Price-to-Sales (P/S) Ratio | 1.41 | 0.53 | 0.58 | 0.77 | 1.44 |
| Price-to-Book (P/B) Ratio | 1.58 | 0.70 | 0.99 | 1.00 | 1.40 |
| Price-to-Free Cash Flow (P/FCF) Ratio | 4.11 | 3.36 | 1.99 | 4.78 | 12.48 |
| Price-to-Operating Cash Flow Ratio | 4.08 | 3.31 | 1.98 | 4.64 | 6.69 |
| Price-to-Earnings Growth (PEG) Ratio | -0.93 | -0.19 | 1.21 | 0.30 | -0.43 |
| Enterprise Value Multiple | 3.92 | 1.29 | 1.16 | 2.84 | 3.18 |
| Enterprise Value | 84.41M | 37.19M | 44.01M | 107.94M | 108.64M |
| EV to EBITDA | 3.92 | 1.29 | 1.16 | 2.84 | 3.18 |
| EV to Sales | 0.91 | 0.35 | 0.35 | 0.83 | 0.80 |
| EV to Free Cash Flow | 2.66 | 2.23 | 1.22 | 5.16 | 6.97 |
| EV to Operating Cash Flow | 2.64 | 2.19 | 1.22 | 5.01 | 3.73 |
| Tangible Book Value Per Share | 0.32 | 0.30 | 0.28 | 0.38 | 0.54 |
| Shareholders’ Equity Per Share | 0.32 | 0.31 | 0.28 | 0.39 | 0.54 |
| Tax and Other Ratios | |||||
| Effective Tax Rate | 0.12 | 0.16 | 0.16 | 0.14 | 0.22 |
| Revenue Per Share | 0.36 | 0.42 | 0.48 | 0.51 | 0.53 |
| Net Income Per Share | 0.01 | 0.02 | 0.05 | 0.04 | 0.03 |
| Tax Burden | 0.88 | 0.84 | 0.84 | 0.86 | 0.78 |
| Interest Burden | 0.96 | 0.81 | 0.96 | 0.92 | 0.93 |
| Research & Development to Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A to Revenue | 0.47 | 0.46 | 0.30 | 0.30 | 0.31 |
| Stock-Based Compensation to Revenue | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 |
| Income Quality | 10.76 | 2.99 | 3.09 | 1.66 | 2.62 |
Currency in HKD