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Top Spring International Holdings Limited (3688) Ratios
Top Spring International Holdings Limited Ratios
HK:3688's free cash flow for Q2 2026 was $-97.54M. For the 2026 fiscal year, HK:3688's free cash flow was decreased by $-4.64M and operating cash flow was $-92.89M. See a summary of the company’s cash flow.
| Ratios | Dec 25 | Dec 24 | Dec 23 | Dec 22 | Dec 21 |
|---|---|---|---|---|---|
| Liquidity Ratios | |||||
| Current Ratio | 0.76 | 1.54 | 1.50 | 1.86 | 1.27 |
| Quick Ratio | 0.76 | 0.65 | 0.55 | 0.70 | 0.49 |
| Cash Ratio | 0.38 | 0.07 | 0.10 | 0.09 | 0.08 |
| Solvency Ratio | -0.36 | -0.17 | -0.07 | -0.01 | 0.00 |
| Operating Cash Flow Ratio | -0.05 | 0.10 | 0.05 | 0.04 | 0.02 |
| Short-Term Operating Cash Flow Coverage | -0.05 | 0.20 | 0.11 | 0.09 | 0.03 |
| Net Current Asset Value | $ -6.78B | $ -1.78B | $ -1.95B | $ -1.13B | $ -1.71B |
| Leverage Ratios | |||||
| Debt-to-Assets Ratio | 0.47 | 0.40 | 0.36 | 0.35 | 0.36 |
| Debt-to-Equity Ratio | 1.58 | 1.08 | 0.90 | 0.84 | 0.98 |
| Debt-to-Capital Ratio | 0.61 | 0.52 | 0.47 | 0.46 | 0.50 |
| Long-Term Debt-to-Capital Ratio | 0.51 | 0.39 | 0.33 | 0.36 | 0.26 |
| Financial Leverage Ratio | 3.39 | 2.74 | 2.48 | 2.37 | 2.75 |
| Debt Service Coverage Ratio | -0.69 | -0.10 | -0.16 | 0.08 | 0.02 |
| Interest Coverage Ratio | -6.60 | -6.56 | -1.51 | 0.97 | 1.73 |
| Debt to Market Cap | 9.07 | 8.65 | 8.78 | 6.26 | 6.47 |
| Interest Debt Per Share | 3.53 | 4.49 | 4.97 | 5.24 | 6.82 |
| Net Debt to EBITDA | -3.92 | -11.56 | -12.92 | 21.08 | 30.45 |
| Profitability Margins | |||||
| Gross Profit Margin | -42.40% | -8.53% | -26.59% | 16.20% | 50.11% |
| EBIT Margin | -81.98% | -39.71% | -55.77% | 8.56% | 41.14% |
| EBITDA Margin | -81.21% | -39.13% | -53.73% | 9.23% | 46.60% |
| Operating Profit Margin | -80.23% | -134.34% | -48.08% | 7.87% | 76.93% |
| Pretax Profit Margin | -223.38% | -156.79% | -87.65% | -1.99% | 29.36% |
| Net Profit Margin | -201.93% | -133.84% | -91.89% | -5.05% | 5.23% |
| Continuous Operations Profit Margin | -213.64% | -138.51% | -94.34% | -5.01% | 7.31% |
| Net Income Per EBT | 90.40% | 85.36% | 104.83% | 253.47% | 17.82% |
| EBT Per EBIT | 278.44% | 116.71% | 182.29% | -25.29% | 38.16% |
| Return on Assets (ROA) | -25.97% | -11.03% | -4.38% | -0.85% | 0.12% |
| Return on Equity (ROE) | -88.11% | -30.20% | -10.84% | -2.01% | 0.32% |
| Return on Capital Employed (ROCE) | -12.19% | -16.87% | -3.42% | 1.84% | 3.17% |
| Return on Invested Capital (ROIC) | -10.32% | -11.92% | -2.74% | 1.57% | 0.55% |
| Return on Tangible Assets | -26.08% | -11.06% | -4.39% | -0.85% | 0.12% |
| Earnings Yield | -506.64% | -242.42% | -106.19% | -14.94% | 2.12% |
| Efficiency Ratios | |||||
| Receivables Turnover | 2.18 | 26.61 | 5.06 | 7.07 | 0.74 |
| Payables Turnover | 0.00 | 6.83 | 5.13 | 15.83 | 1.75 |
| Inventory Turnover | 0.00 | 0.29 | 0.19 | 0.43 | 0.03 |
| Fixed Asset Turnover | 20.56 | 0.21 | 6.91 | 21.15 | 3.33 |
| Asset Turnover | 0.13 | 0.08 | 0.05 | 0.17 | 0.02 |
| Working Capital Turnover Ratio | 1.07 | 0.43 | 0.22 | 0.84 | 0.13 |
| Cash Conversion Cycle | 167.18 | 1207.37 | 1904.44 | 877.26 | 11674.94 |
| Days of Sales Outstanding | 167.18 | 13.72 | 72.17 | 51.60 | 492.76 |
| Days of Inventory Outstanding | 0.00 | 1247.08 | 1903.49 | 848.71 | 11391.19 |
| Days of Payables Outstanding | 0.00 | 53.43 | 71.21 | 23.05 | 209.01 |
| Operating Cycle | 167.18 | 1260.79 | 1975.66 | 900.31 | 11883.95 |
| Cash Flow Ratios | |||||
| Operating Cash Flow Per Share | -0.05 | 0.36 | 0.23 | 0.16 | 0.14 |
| Free Cash Flow Per Share | -0.05 | 0.35 | 0.23 | 0.16 | 0.14 |
| Dividend Paid and CapEx Coverage Ratio | 0.00 | 64.41 | 19.20 | 12.69 | 1.91 |
| Capital Expenditure Coverage Ratio | 0.00 | 64.41 | 115.15 | 62.10 | 24.28 |
| Operating Cash Flow Coverage Ratio | -0.02 | 0.08 | 0.05 | 0.03 | 0.02 |
| Operating Cash Flow to Sales Ratio | -0.06 | 0.40 | 0.37 | 0.07 | 0.35 |
| Free Cash Flow Yield | -13.98% | 71.25% | 42.28% | 19.41% | 13.49% |
| Valuation Ratios | |||||
| Price-to-Earnings (P/E) Ratio | -0.20 | -0.41 | -0.94 | -6.69 | 47.12 |
| Price-to-Sales (P/S) Ratio | 0.40 | 0.55 | 0.87 | 0.34 | 2.47 |
| Price-to-Book (P/B) Ratio | 0.17 | 0.12 | 0.10 | 0.13 | 0.15 |
| Price-to-Free Cash Flow (P/FCF) Ratio | -7.15 | 1.40 | 2.37 | 5.15 | 7.41 |
| Price-to-Operating Cash Flow Ratio | -7.15 | 1.38 | 2.34 | 5.07 | 7.11 |
| Price-to-Earnings Growth (PEG) Ratio | -0.00 | -0.00 | -0.00 | 0.01 | -0.42 |
| Enterprise Value Multiple | -4.41 | -12.98 | -14.53 | 24.74 | 35.74 |
| Enterprise Value | 5.16B | 6.95B | 7.45B | 8.37B | 10.64B |
| EV to EBITDA | -4.41 | -12.98 | -14.53 | 24.74 | 35.74 |
| EV to Sales | 3.58 | 5.08 | 7.81 | 2.28 | 16.65 |
| EV to Free Cash Flow | -64.30 | 12.91 | 21.34 | 34.81 | 50.07 |
| EV to Operating Cash Flow | -64.30 | 12.71 | 21.15 | 34.25 | 48.01 |
| Tangible Book Value Per Share | 2.00 | 3.92 | 5.28 | 6.04 | 6.75 |
| Shareholders’ Equity Per Share | 2.16 | 3.97 | 5.29 | 6.03 | 6.74 |
| Tax and Other Ratios | |||||
| Effective Tax Rate | -0.04 | 0.12 | -0.08 | -1.51 | 0.75 |
| Revenue Per Share | 0.94 | 0.90 | 0.62 | 2.40 | 0.42 |
| Net Income Per Share | -1.90 | -1.20 | -0.57 | -0.12 | 0.02 |
| Tax Burden | 0.90 | 0.85 | 1.05 | 2.53 | 0.18 |
| Interest Burden | 2.72 | 3.95 | 1.57 | -0.23 | 0.71 |
| Research & Development to Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A to Revenue | 0.39 | 0.33 | 0.19 | 0.07 | 0.52 |
| Stock-Based Compensation to Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Quality | 0.03 | -0.30 | -0.40 | -3.35 | 1.18 |
Currency in HKD