Latest Ratios: P/E Ratio -0.1x · EV/EBITDA N/A · ROE -6.5%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $1M | $6M | $7M | $400M | — | — | — |
| Enterprise Value | $-77830758 | $-72877415 | $-3051713 | $406M | — | — | — |
| P/E Ratio → | -0.12 | — | — | 13680.56 | — | — | — |
| P/S Ratio | 0.07 | 0.39 | 0.31 | 12.60 | — | — | — |
| P/B Ratio | 0.01 | 0.03 | 0.08 | 6.56 | — | — | — |
| P/FCF | 0.05 | 0.31 | — | — | — | — | — |
| P/OCF | 0.05 | 0.31 | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -4.77 | -0.14 | 12.79 | — | — | — |
| EV / EBITDA | — | — | -0.83 | 28.84 | — | — | — |
| EV / EBIT | — | — | -9.24 | 37.65 | — | — | — |
| EV / FCF | — | -3.84 | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 50.2% | 50.2% | 44.8% | 60.8% | 72.2% | 69.7% | 63.4% |
| Operating Margin | -44.5% | -44.5% | -0.1% | 33.7% | 50.7% | 48.6% | 39.9% |
| Net Profit Margin | -56.2% | -56.2% | -8.0% | 20.6% | 34.3% | 35.3% | 27.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -6.5% | -6.5% | -2.5% | 11.8% | 32.1% | 42.0% | 30.3% |
| ROA | -5.9% | -5.9% | -2.0% | 8.4% | 19.8% | 20.1% | 11.9% |
| ROIC | -5.8% | -5.8% | -0.0% | 15.9% | 47.3% | 59.8% | 60.7% |
| ROCE | -4.9% | -4.9% | -0.0% | 17.2% | 38.2% | 40.8% | 29.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.04 | 0.12 | 0.10 | 0.14 | 0.16 | 0.25 |
| Debt / EBITDA | — | — | 2.68 | 0.45 | 0.28 | 0.29 | 0.45 |
| Net Debt / Equity | — | -0.44 | -0.12 | 0.10 | -0.32 | -0.17 | -0.45 |
| Net Debt / EBITDA | — | — | -2.74 | 0.43 | -0.64 | -0.30 | -0.79 |
| Debt / FCF | — | -4.16 | — | — | -0.84 | — | -0.94 |
| Interest Coverage | -557.19 | -557.19 | 44.45 | 1796.88 | 3355.97 | 3996.67 | — |
Net cash position: cash ($86M) exceeds total debt ($7M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 25.01 | 25.01 | 10.41 | 1.01 | 1.52 | 1.78 | 0.85 |
| Quick Ratio | 25.01 | 25.01 | 10.41 | 1.88 | 1.50 | 1.75 | 0.83 |
| Cash Ratio | 19.53 | 19.53 | 3.41 | 0.02 | 1.40 | 0.72 | 0.69 |
| Asset Turnover | — | 0.08 | 0.23 | 0.39 | 0.57 | 0.54 | 0.44 |
| Inventory Turnover | — | — | — | — | 25.16 | 25.28 | 19.37 |
| Days Sales Outstanding | — | 27.08 | 8.40 | 0.66 | 0.46 | 0.48 | 0.91 |
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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 0.0% | — | — | — |
| FCF Yield | 100.0% | 318.4% | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $793805 | $6838 | $2710 | $2710 | $2710 | $2710 |
Operational viability and scale
Based on reported financial statements, GDHG trades at a P/S ratio of 0.06, suggesting that the market is heavily discounting the company's revenue-generating capacity and potentially valuing the entity primarily as a cash-heavy shell rather than a functional leisure operator with long-term growth prospects.
The extremely low P/S multiple indicates that investors are assigning negligible value to the underlying amusement park operations, likely due to the persistent revenue contraction and negative operating margins. This valuation profile implies that the market views the current business model as structurally broken, with the stock price effectively tethered to the cash balance rather than future earnings potential.
As indicated by historical data, ROIC has experienced extreme volatility, swinging from a peak of 22.0% in 2023Q2 to a negative 11.6% in 2025Q2, reflecting a fundamental inability to consistently generate returns on invested capital within the current regional amusement park portfolio.
The sharp decline in ROIC suggests that the company's capital allocation has failed to produce sustainable value, likely exacerbated by the high fixed-cost nature of the assets which require consistent foot traffic to remain accretive. Investors should monitor whether management can stabilize these returns, as the current trend indicates a significant erosion of capital efficiency compared to historical performance.
According to recent SEC filings, the company's asset turnover ratio has plummeted to 0.04 in 2025Q4, a stark decline from the 0.29 levels observed in 2022, signaling a severe deterioration in the company's ability to utilize its asset base to generate meaningful revenue.
This collapse in asset turnover highlights that the company's infrastructure is significantly underutilized relative to its scale, which is a major concern for a fixed-asset-heavy business. The lack of efficiency suggests that the current park portfolio may be reaching a state of structural obsolescence, requiring more maintenance capital than the revenue base can justify.
Based on the latest quarterly figures, the current ratio has surged to 25.01, which, while appearing robust, is primarily driven by an $86 million cash position that masks the underlying weakness in the company's core leisure operations and lack of sustainable cash flow generation.
While the high liquidity position provides a theoretical safety net against immediate insolvency, it also raises questions regarding the company's long-term strategy for deploying these funds. The disconnect between the massive cash pile and the declining revenue suggests that the company is not currently using its liquidity to drive operational improvements or growth.
As reported in financial statements, the market's reliance on traditional leisure valuation metrics like EV/EBITDA is fundamentally flawed for GDHG, as the company's extreme cash-to-revenue imbalance renders standard operational multiples misleading and obscures the true nature of the business as a distressed asset.
Analysts should instead focus on a 'cash-adjusted' valuation or a liquidation-style analysis, as the company's current market value is heavily influenced by its balance sheet rather than its operating performance. Applying standard leisure industry multiples to GDHG ignores the reality that the parks may be secondary to the cash reserves, leading to a potential mispricing of the company's actual business risk.
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Quick answers to the most common questions about buying GDHG stock.
Golden Heaven Group Holdings Ltd.'s current P/E ratio is -0.1x. This places it at the 50th percentile of its historical range.
Golden Heaven Group Holdings Ltd.'s return on equity (ROE) is -6.5%. The historical average is 17.9%.
Based on historical data, Golden Heaven Group Holdings Ltd. is trading at a P/E of -0.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Golden Heaven Group Holdings Ltd. has 50.2% gross margin and -44.5% operating margin.