Latest Ratios: P/E Ratio -64.2x · EV/EBITDA N/A · ROE -15.0%. (2012–2025 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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $567M | $316M | $416M | $119M | $16M | $31M | $20M | $4M | $6M | $93M | $342M |
| Enterprise Value | $534M | $283M | $399M | $113M | $10M | $31M | $20M | $11M | $13M | $96M | $340M |
| P/E Ratio → | -64.21 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 303.43 | 169.20 | 412.55 | 267.28 | 18.66 | 45.95 | 14.48 | 2.26 | 0.18 | 1.05 | 4.67 |
| P/B Ratio | 7.43 | 7.17 | 17.25 | 6.68 | 0.96 | 3.59 | 1.98 | 0.49 | — | 0.90 | 1.38 |
| 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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 151.65 | 396.54 | 252.74 | 11.08 | 46.97 | 14.36 | 6.19 | 0.37 | 1.08 | 4.64 |
| EV / EBITDA | — | — | — | — | — | — | — | 5.48 | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | 22.27 | — | — | — |
| 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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.3% | 64.3% | -37.3% | -219.4% | -59.9% | -4.9% | 94.7% | 85.2% | 2.4% | 0.6% | 0.5% |
| Operating Margin | -177.5% | -177.5% | -458.3% | -1906.0% | -681.6% | -1985.5% | 11.9% | 26.2% | -341.2% | -189.7% | -37.7% |
| Net Profit Margin | -273.0% | -273.0% | -450.1% | -2098.4% | -652.6% | -3232.9% | -117.8% | -70.5% | -338.1% | -182.4% | -34.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -15.0% | -15.0% | -21.6% | -54.0% | -44.4% | -230.2% | -18.1% | -15.2% | -302.9% | -92.0% | -10.2% |
| ROA | -12.4% | -12.4% | -13.7% | -38.0% | -39.1% | -207.3% | -16.7% | -17.6% | -174.6% | -78.9% | -9.2% |
| ROIC | -25.9% | -25.9% | -35.9% | -58.9% | -45.2% | -103.3% | 1.0% | 2.3% | -204.9% | -71.7% | -8.4% |
| ROCE | -9.6% | -9.6% | -21.9% | -47.8% | -45.2% | -141.4% | 1.8% | 5.7% | -253.7% | -90.5% | -10.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | 0.32 | 0.54 | 0.05 | 0.13 | — | 0.91 | — | 0.07 | — |
| Debt / EBITDA | — | — | — | — | — | — | — | 3.70 | — | — | — |
| Net Debt / Equity | — | -0.74 | -0.67 | -0.36 | -0.39 | 0.08 | -0.02 | 0.85 | — | 0.03 | -0.01 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | 3.48 | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -24.65 | -24.65 | -7.29 | -10.08 | — | — | — | — | — | — | — |
Net cash position: cash ($34M) exceeds total debt ($1M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 25.71 | 25.71 | 2.59 | 1.93 | 5.26 | 1.27 | 3.49 | 2.55 | 0.23 | 0.62 | 0.88 |
| Quick Ratio | 25.71 | 25.71 | 2.59 | 1.93 | 5262.40 | 948.78 | 3.49 | -697.66 | 0.20 | 0.59 | 0.87 |
| Cash Ratio | 20.52 | 20.52 | 2.15 | 1.50 | 5.21 | 0.32 | 0.25 | 0.52 | 0.02 | 0.22 | 0.17 |
| Asset Turnover | — | 0.04 | 0.03 | 0.01 | 0.05 | 0.07 | 0.13 | 0.20 | 7.26 | 0.65 | 0.27 |
| Inventory Turnover | — | — | — | — | — | — | — | 0.00 | 60.74 | 163.72 | 325.25 |
| Days Sales Outstanding | — | 506.22 | 1832.41 | 4266.60 | 15.19 | 0.82 | 594.71 | 355.64 | 25.58 | 27.58 | 9.26 |
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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $64M | $61M | $46M | $13M | $9M | $6M | $2M | $4M | $4M | $4M |
Includes 30+ ratios · 14 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying CD stock.
Chaince Digital Holdings Inc.'s current P/E ratio is -64.2x. This places it at the 50th percentile of its historical range.
Chaince Digital Holdings Inc.'s return on equity (ROE) is -15.0%. The historical average is -97.1%.
Based on historical data, Chaince Digital Holdings Inc. is trading at a P/E of -64.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Chaince Digital Holdings Inc. has 64.3% gross margin and -177.5% operating margin.
Key Metrics
Top Statement Risk
Structural Unprofitability and Burn
Metrics are mathematically derived from official filings.
Speculative Multiples Lack Fundamental Support
According to current market data, MFH trades at a price-to-sales ratio of 349.01, a figure that appears disconnected from the company's underlying financial performance and suggests that investors are pricing in extreme speculative growth rather than any tangible evidence of sustainable earnings or operational scale.
The absence of meaningful P/E or EV/EBITDA multiples reflects the market's difficulty in valuing a business that has yet to demonstrate a path to profitability. This valuation level implies that the market is assigning significant optionality to the company's digital asset infrastructure, though such a premium appears difficult to justify given the persistent net losses.
Negative Margins Indicate Structural Inefficiency
As reported in recent financial statements, the company's gross margin of -20.2% in 2024Q4 highlights a fundamental inability to cover the direct costs of its blockchain services, suggesting that the current business model is structurally unprofitable regardless of the scale of revenue growth achieved.
The operating margin of -152.3% further underscores that administrative and technical overheads remain far too high relative to the company's current revenue generation. Investors should monitor whether management can achieve any degree of operating leverage, as the current trajectory suggests that scaling the business may only serve to accelerate total losses.
Capital Compounding Remains Deeply Negative
Based on historical data, MFH has consistently generated negative returns on invested capital, with ROIC reaching -2.0% in 2024Q4, which indicates that the company is currently destroying shareholder value rather than compounding it through its pivot into digital asset digitalization and mining operations.
The persistent negative ROE and ROIC trends suggest that the capital deployed into the business is not being utilized efficiently to generate returns. This pattern warrants further investigation into whether the company's asset base is truly productive or if it is merely a repository for capital that fails to yield a competitive return.
Liquidity Buffer Masks Operational Fragility
As indicated by the 2024Q4 filings, the company maintains a current ratio of 2.59, which appears to provide a sufficient short-term liquidity buffer, yet this metric may be misleading given the company's high cash burn rate and the lack of predictable cash inflows from operations.
While the current ratio suggests an adequate position to meet short-term obligations, the reliance on cash reserves to fund ongoing losses is a significant concern. The company's liquidity position appears vulnerable to any prolonged period of operational underperformance or a sudden need for additional capital to sustain its infrastructure.
Revenue Growth Obscures Underlying Value
The most commonly misapplied metric for MFH is revenue growth, which, at 125.92% YoY, obscures the reality that the company is currently spending significantly more to produce that revenue than it receives in return, rendering top-line expansion a potentially misleading indicator of business health.
Analysts should instead focus on the contribution margin and the unit economics of the company's mining and software services. Relying on revenue growth in this context ignores the structural unprofitability of the business model and may lead to an overestimation of the company's long-term viability.