Latest Ratios: P/E Ratio -9.3x · EV/EBITDA N/A · ROE -98.8%. (2014–2025 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 | $213M | $110M | $69M | — | $11M | $17M | $62M | $104M | $37M | $38M | — |
| Enterprise Value | $155M | $52M | $27M | — | $-19201272 | $-21248675 | $34M | $100M | $43M | $40M | — |
| P/E Ratio → | -9.27 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 5.63 | 2.91 | 1.48 | — | 0.20 | 0.30 | 1.00 | 166.33 | 64.22 | 209.75 | — |
| P/B Ratio | 9.16 | 5.90 | — | — | — | — | — | 7.67 | — | — | — |
| P/FCF | 28.83 | 14.90 | 23.91 | — | — | 1.46 | — | — | — | — | — |
| P/OCF | 27.07 | 13.99 | 19.91 | — | — | 1.41 | — | — | — | — | — |
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 | — | 1.37 | 0.59 | — | -0.35 | -0.37 | 0.56 | 161.02 | 74.09 | 222.46 | — |
| EV / EBITDA | — | — | — | — | — | -3.53 | 6.36 | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | 31.92 | — | — | — | — |
| EV / FCF | — | 7.01 | 9.52 | — | — | -1.82 | — | — | — | — | — |
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 | 40.8% | 40.8% | 31.4% | 32.6% | 28.1% | 31.1% | 26.0% | 62.9% | 52.1% | -0.1% | -82.2% |
| Operating Margin | -21.0% | -21.0% | -59.0% | -12.5% | -18.0% | 0.1% | -0.7% | -1931.8% | -1294.3% | -4069.8% | -4664.9% |
| Net Profit Margin | -48.7% | -48.7% | -85.0% | -28.7% | -30.1% | -25.8% | -10.9% | -3996.6% | -1781.1% | -4517.6% | -4939.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -98.8% | -98.8% | — | — | — | — | -123.3% | -596.3% | — | — | -242.1% |
| ROA | -16.6% | -16.6% | -31.6% | -10.1% | -11.2% | -10.9% | -8.0% | -138.9% | -378.5% | -330.3% | -178.5% |
| ROIC | -72.8% | -72.8% | — | -156.6% | -55.6% | 0.1% | -1.3% | -117.2% | -743.5% | -495.5% | -302.9% |
| ROCE | -33.3% | -33.3% | — | — | -2812.7% | 0.5% | -3.5% | -155.6% | — | -1731.9% | -172.4% |
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 | 0.91 | 0.91 | — | — | — | — | — | 0.06 | — | — | 0.05 |
| Debt / EBITDA | — | — | — | — | — | 4.07 | 6.29 | — | — | — | — |
| Net Debt / Equity | — | -3.12 | — | — | — | — | — | -0.24 | — | — | -0.59 |
| Net Debt / EBITDA | — | — | — | — | — | -6.35 | -4.99 | — | — | — | — |
| Debt / FCF | — | -7.89 | -14.38 | — | — | -3.28 | — | — | — | — | — |
| Interest Coverage | -4.90 | -4.90 | -3.49 | -0.74 | -0.90 | -0.05 | 0.23 | -4.20 | -2.53 | -4.16 | -33.20 |
Net cash position: cash ($75M) exceeds total debt ($17M)
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 | 1.12 | 1.12 | 0.61 | 0.59 | 0.70 | 0.83 | 0.74 | 0.52 | 0.19 | 0.21 | 2.54 |
| Quick Ratio | 1.12 | 1.12 | 0.61 | 0.59 | 0.70 | 0.83 | 0.74 | 0.52 | 0.19 | 0.21 | 2.54 |
| Cash Ratio | 0.83 | 0.83 | 0.43 | 0.28 | 0.36 | 0.51 | 0.46 | 0.35 | 0.06 | 0.03 | 1.98 |
| Asset Turnover | — | 0.33 | 0.43 | 0.38 | 0.35 | 0.42 | 0.45 | 0.02 | 0.17 | 0.09 | 0.03 |
| 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 | 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 | 3.5% | 6.7% | 4.2% | — | — | 68.7% | — | — | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $61M | $38M | $74M | $71M | $47M | $47M | $35M | $25M | $24M | $23M |
Persistent negative operating leverage
Based on reported figures, CURR trades at a price-to-sales multiple of 5.63, which appears disconnected from the underlying 18.57% year-over-year revenue decline and suggests that the market may be pricing the company as a cash-heavy liquidation play rather than a viable growth-oriented fintech entity.
The P/S ratio of 5.63 is difficult to justify given the persistent negative operating margins and the lack of a clear path to profitability. Investors should monitor whether the valuation floor is supported by the cash balance, as the absence of a positive forward P/E indicates that the market remains skeptical of the company's ability to achieve operational scale.
According to recent financial statements, CURR's net margin of -48.74% highlights a severe inability to cover corporate overhead, with gross margins fluctuating between 27.8% and 50.8% over the last ten quarters, indicating a lack of pricing power in its core remittance and airtime segments.
The wide gap between gross and operating margins suggests that fixed costs are disproportionately high relative to the current transaction volume. This implies that the business model may be fundamentally unscalable without a significant reduction in administrative expenses or a major pivot in the customer acquisition strategy.
As reported in quarterly filings, CURR's asset turnover has remained consistently low, hovering near 0.09 to 0.10 in recent periods, which suggests that the company's capital base is not being efficiently utilized to generate meaningful transaction volume or revenue growth within its target corridors.
The low asset turnover ratio indicates that the company is carrying significant non-productive assets relative to its top-line output. This inefficiency warrants further investigation into whether the current asset base is properly aligned with the company's stated goal of capturing micro-transaction volume in emerging markets.
Based on the 2025Q4 reported figures, CURR maintains a debt-to-equity ratio of 0.91, which appears deceptively conservative given the company's negative equity base and the underlying challenges in generating positive cash flow from its core remittance and airtime services, as noted in recent financial disclosures.
While the low leverage might suggest a margin of safety, the negative equity position indicates that cumulative losses have eroded the capital base. Investors should monitor the interest coverage ratio, which has frequently dipped into negative territory, signaling that debt service could become a burden if cash reserves are depleted.
The price-to-book ratio of 9.16 is frequently misapplied to CURR, as it obscures the reality of negative shareholder equity and fails to account for the fact that the company's book value is heavily influenced by intangible assets and goodwill rather than tangible, productive capital.
Using P/B as a valuation anchor for this business model is misleading because it ignores the company's inability to generate positive returns on invested capital. Analysts should instead focus on cash-per-share or enterprise value relative to transaction volume to better assess the company's true economic value.
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying CURR stock.
Currenc Group, Inc.'s current P/E ratio is -9.3x. This places it at the 50th percentile of its historical range.
Currenc Group, Inc.'s return on equity (ROE) is -98.8%. The historical average is -154.7%.
Based on historical data, Currenc Group, Inc. is trading at a P/E of -9.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Currenc Group, Inc. has 40.8% gross margin and -21.0% operating margin.