Latest Ratios: P/E Ratio 3.2x · EV/EBITDA -4.2x · ROE 13.8%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $49M | $74M | $197M | — | — | — | — | — |
| Enterprise Value | $-30007557 | $-465272329 | $-352842158 | — | — | — | — | — |
| P/E Ratio → | 3.18 | 0.69 | — | — | — | — | — | — |
| P/S Ratio | 0.08 | 0.02 | 0.04 | — | — | — | — | — |
| P/B Ratio | 0.41 | 0.09 | 0.26 | — | — | — | — | — |
| P/FCF | 3.39 | 0.75 | 188.01 | — | — | — | — | — |
| P/OCF | 3.38 | 0.74 | 90.01 | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.12 | -0.08 | — | — | — | — | — |
| EV / EBITDA | -4.24 | -9.68 | — | — | — | — | — | — |
| EV / EBIT | -4.40 | -4.24 | — | — | — | — | — | — |
| EV / FCF | — | -4.70 | -336.68 | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 11.8% | 11.8% | 11.0% | 8.7% | 6.5% | 6.2% | 9.4% | -1.0% |
| Operating Margin | 1.2% | 1.2% | -0.6% | 0.2% | -5.1% | -9.9% | -10.7% | -26.1% |
| Net Profit Margin | 2.7% | 2.7% | -3.3% | 2.4% | -4.5% | -9.6% | -10.2% | -25.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 13.8% | 13.8% | -19.6% | — | — | — | — | — |
| ROA | 8.7% | 8.7% | -13.1% | 11.5% | -19.7% | -45.7% | -46.5% | -83.9% |
| ROIC | 14.1% | 14.1% | -9.8% | — | — | — | — | — |
| ROCE | 5.7% | 5.7% | -4.6% | 3.8% | -72.1% | -244.7% | -2862.6% | -397.7% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | 0.06 | — | — | — | — | — |
| Debt / EBITDA | 0.47 | 0.47 | — | 3.71 | — | — | — | — |
| Net Debt / Equity | — | -0.64 | -0.74 | — | — | — | — | — |
| Net Debt / EBITDA | -11.21 | -11.21 | — | -41.30 | — | — | — | — |
| Debt / FCF | — | -5.45 | -524.69 | -15.06 | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — |
Net cash position: cash ($562M) exceeds total debt ($23M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.35 | 2.35 | 1.87 | 1.41 | 1.24 | 1.58 | 0.76 | 1.26 |
| Quick Ratio | 2.35 | 2.35 | 1.87 | 1.41 | 1.24 | 1.58 | 0.76 | 1.26 |
| Cash Ratio | 2.16 | 2.16 | 1.63 | 1.30 | 1.15 | 1.47 | 0.64 | 1.12 |
| Asset Turnover | — | 3.10 | 3.62 | 4.53 | 4.34 | 3.35 | 5.51 | 3.26 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 3.36 | 3.61 | 3.60 | 3.68 | 2.72 | 2.90 | 3.53 |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 31.5% | 145.3% | — | — | — | — | — | — |
| FCF Yield | 29.5% | 134.2% | 0.5% | — | — | — | — | — |
| Buyback Yield | 16.3% | 74.4% | 0.0% | — | — | — | — | — |
| Total Shareholder Yield | 16.3% | 74.4% | 0.0% | — | — | — | — | — |
| Shares Outstanding | — | $23M | $24M | $24M | $71M | $71M | $71M | $71M |
Regulatory gig-worker labor costs
Based on current market data, FLX trades at a P/S ratio of 0.09 and a TTM P/E of 3.25, suggesting that investors are heavily discounting the company's future earnings potential due to the persistent revenue contraction observed in recent quarterly filings.
The extremely low valuation multiples imply that the market views the current profitability as unsustainable or non-core. Investors should monitor whether the forward P/E of 0.77 indicates a genuine undervaluation or if it reflects a market expectation of further earnings degradation as the company struggles to maintain its competitive moat.
As reported in financial statements, the company's ROIC has fluctuated significantly, dropping to 0.8% in 2025Q4 from a peak of 4.8% in 2025Q2, which indicates that the firm is currently struggling to generate meaningful returns on its invested capital base.
The volatility in ROIC suggests that the company's core operations are highly sensitive to external market conditions and competitive pricing pressures. This trend warrants further investigation into whether the company's capital allocation strategy is effectively creating value or if it is merely preserving cash in a stagnant growth environment.
According to recent quarterly data, the asset turnover ratio has declined from 1.28 in 2023Q3 to 0.78 in 2025Q4, signaling a reduction in the efficiency with which the company utilizes its asset base to generate revenue within the competitive intra-city logistics market.
The decline in asset turnover suggests that the company's infrastructure and network are becoming less productive relative to the capital deployed. This trend may indicate that the platform is losing its ability to optimize rider density, which is critical for maintaining the speed and reliability promised by its dedicated delivery model.
Based on the latest financial disclosures, the company maintains a current ratio of 2.35 as of 2025Q4, providing a substantial liquidity cushion that appears sufficient to navigate potential short-term operational stress or regulatory headwinds in the Chinese gig economy sector.
The strong liquidity position, supported by a significant cash balance, offers the company flexibility that many of its peers lack. However, investors should monitor whether this cash remains idle or if management can identify value-accretive opportunities to deploy this capital to reverse the current revenue contraction.
The P/E ratio is frequently misapplied to this business model, as it obscures the impact of non-operating income and stock-based compensation which, according to reported figures, significantly distort the true economic earning power of the courier operations.
Analysts should instead focus on adjusted EBITDA or cash-based metrics that strip out non-core interest income and non-cash labor costs. Relying on P/E in this context may lead to an overly optimistic assessment of profitability that fails to account for the high variable costs inherent in the gig-delivery model.
Includes 30+ ratios · 7 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying FLX stock.
BingEx Limited's current P/E ratio is 3.2x. The historical average is 0.7x. This places it at the 100th percentile of its historical range.
BingEx Limited's current EV/EBITDA is -4.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
BingEx Limited's return on equity (ROE) is 13.8%. The historical average is -2.9%.
Based on historical data, BingEx Limited is trading at a P/E of 3.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
BingEx Limited has 11.8% gross margin and 1.2% operating margin.
BingEx Limited's Debt/EBITDA ratio is 0.5x, indicating low leverage. A ratio below 2x is generally considered financially healthy.