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CURRCurrenc Group, Inc.
$2.78$213M
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Currenc Group, Inc. (CURR) Financial Ratios

Latest Ratios: P/E Ratio -9.3x · EV/EBITDA N/A · ROE -98.8%. (2014–2025 historical series)

Income StatementBalance SheetCash FlowRatios
AnnualQuarterly

CURR Valuation Multiples

Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 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 Ratio5.632.911.48—0.200.301.00166.3364.22209.75—
P/B Ratio9.165.90—————7.67———
P/FCF28.8314.9023.91——1.46—————
P/OCF27.0713.9919.91——1.41—————

P/E links to full P/E history page with 30-year chart

CURR EV Ratios

Enterprise-value multiples — capital-structure-neutral measures of total business value

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
EV / Revenue—1.370.59—-0.35-0.370.56161.0274.09222.46—
EV / EBITDA—————-3.536.36————
EV / EBIT——————31.92————
EV / FCF—7.019.52——-1.82—————

CURR Profitability

Margins and return-on-capital ratios measuring operating efficiency

Margins

Full margin charts and quarterly trend are on the Earnings History page

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Gross Margin40.8%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%

Return on Capital

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 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%

CURR Leverage & Debt

Solvency and debt-coverage ratios — lower is generally safer

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Debt / Equity0.910.91—————0.06——0.05
Debt / EBITDA—————4.076.29————
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-4.90-4.90-3.49-0.74-0.90-0.050.23-4.20-2.53-4.16-33.20

Net cash position: cash ($75M) exceeds total debt ($17M)

CURR Liquidity & Efficiency

Short-term solvency ratios and asset-utilisation metrics

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Current Ratio1.121.120.610.590.700.830.740.520.190.212.54
Quick Ratio1.121.120.610.590.700.830.740.520.190.212.54
Cash Ratio0.830.830.430.280.360.510.460.350.060.031.98
Asset Turnover—0.330.430.380.350.420.450.020.170.090.03
Inventory Turnover———————————
Days Sales Outstanding———————————

CURR Shareholder Yields

Earnings, FCF, buyback, and dividend yields — total returns to shareholders

Dividends

Full dividend history and growth charts are on the Dividend History page

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Dividend Yield———————————
Payout Ratio———————————

Total Shareholder Return Metrics

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Earnings Yield———————————
FCF Yield3.5%6.7%4.2%——68.7%—————
Buyback Yield0.0%——————————
Total Shareholder Yield0.0%——————————
Shares Outstanding—$61M$38M$74M$71M$47M$47M$35M$25M$24M$23M

Key Metrics

Growth RegimeContracting
ProfitabilityNegative
Balance SheetVulnerable
Cash FlowBurning
Top Statement Risk

Persistent negative operating leverage

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2025Q4)

Distressed Valuation Amidst Revenue Contraction

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.

Structural Margin Deficit Hinders Performance

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.

Asset Turnover Reflects Operational Stagnation

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.

Debt-to-Equity Masking Operational Distress

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.

Misapplication of Price-to-Book Ratio

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.

Download Financial Ratios Data

Includes 30+ ratios · 12 years · Updated daily

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CURR — Frequently Asked Questions

Quick answers to the most common questions about buying CURR stock.

What is Currenc Group, Inc.'s P/E ratio?

Currenc Group, Inc.'s current P/E ratio is -9.3x. This places it at the 50th percentile of its historical range.

What is Currenc Group, Inc.'s ROE?

Currenc Group, Inc.'s return on equity (ROE) is -98.8%. The historical average is -154.7%.

Is CURR stock overvalued?

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.

What are Currenc Group, Inc.'s profit margins?

Currenc Group, Inc. has 40.8% gross margin and -21.0% operating margin.