Latest Ratios: P/E Ratio 63.7x · EV/EBITDA N/A · ROE 3.0%. (2023–2025 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 |
|---|---|---|---|---|
| Market Cap | $50M | $56M | $93M | — |
| Enterprise Value | $51M | $57M | $92M | — |
| P/E Ratio → | 63.68 | 58.95 | 49.33 | — |
| P/S Ratio | — | — | — | — |
| P/B Ratio | 3.03 | 2.80 | 1.33 | — |
| 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 |
|---|---|---|---|---|
| EV / Revenue | — | — | — | — |
| EV / EBITDA | — | — | — | — |
| 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 |
|---|---|---|---|---|
| Gross Margin | — | — | — | — |
| Operating Margin | — | — | — | — |
| Net Profit Margin | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| ROE | 3.0% | 3.0% | 5.5% | -1.8% |
| ROA | 2.8% | 2.8% | 5.3% | -0.0% |
| ROIC | -1.5% | -1.5% | -1.2% | — |
| ROCE | -1.9% | -1.9% | -1.6% | -1.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | — | 40.67 |
| Debt / EBITDA | — | — | — | 999999.00 |
| Net Debt / Equity | — | 0.03 | -0.00 | 20.32 |
| Net Debt / EBITDA | — | — | — | — |
| Debt / FCF | — | — | — | — |
| Interest Coverage | -59.24 | -59.24 | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Current Ratio | 0.03 | 0.03 | 4.42 | 0.61 |
| Quick Ratio | 0.03 | 0.03 | 4.42 | 0.61 |
| Cash Ratio | 0.03 | 0.03 | 3.73 | 0.49 |
| Asset Turnover | — | — | — | — |
| Inventory Turnover | — | — | — | — |
| 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 |
|---|---|---|---|---|
| Dividend Yield | — | — | — | — |
| Payout Ratio | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Earnings Yield | 1.6% | 1.7% | 2.0% | — |
| FCF Yield | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $5M | $9M | $9M |
Liquidation and liquidity shortfall
According to recent market data, BKHA trades at a P/E of 63.68, a valuation multiple that appears disconnected from the company's lack of operational revenue and the rapid depletion of its asset base as reported in the most recent quarterly financial statements.
The elevated P/E ratio suggests that investors are assigning a significant premium to the shell's potential for a future merger, rather than any underlying fundamental performance. This valuation is highly precarious, as it assumes a successful transaction that remains increasingly unlikely given the company's deteriorating liquidity profile.
As reported in financial statements, BKHA's current ratio has plummeted to a precarious 0.08 in 2026Q1, indicating that the company's current liabilities significantly outweigh its available cash reserves, leaving almost no margin for error in funding ongoing search and due diligence costs.
The rapid decline from a current ratio of 14.56 in 2024Q2 to current levels suggests that the company is struggling to maintain the necessary working capital to remain a going concern. This liquidity crunch warrants immediate investigation into the company's ability to cover its upcoming administrative and legal obligations.
Based on the company's reported figures, the debt-to-equity ratio has climbed to 0.10 in 2026Q1 from a near-zero base in 2025Q2, signaling an increasing reliance on external financing to sustain operations as internal cash reserves continue to dwindle toward critical levels.
While the absolute debt level remains low, the upward trend in leverage is concerning for a shell company that lacks any operational cash flow to service debt. This shift suggests that management may be forced to seek dilutive financing to keep the entity listed, further pressuring shareholder value.
As indicated by the financial data, the P/E ratio is a fundamentally misapplied metric for BKHA, as it obscures the company's lack of core earnings and fails to account for the binary risk of liquidation inherent in a pre-combination shell entity's business model.
Investors should instead focus on the trust account balance and the remaining time until the liquidation deadline, as these are the true drivers of value for a SPAC. Using earnings-based multiples for a company with no operational revenue provides a false sense of security and ignores the structural risks of the vehicle.
Includes 30+ ratios · 3 years · Updated daily
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Quick answers to the most common questions about buying BKHA stock.
Black Hawk Acquisition Corporation's current P/E ratio is 63.7x. The historical average is 54.1x. This places it at the 100th percentile of its historical range.
Black Hawk Acquisition Corporation's return on equity (ROE) is 3.0%. The historical average is 2.2%.
Based on historical data, Black Hawk Acquisition Corporation is trading at a P/E of 63.7x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.