Highway Holdings Limited (HIHO) Financial Ratios
29 years of historical data (1997–2025) · Industrials · Manufacturing - Metal Fabrication
EV/EBITDA
↑
-22.47
↓-222% vs avg
5yr avg: 18.36
30Y Low1.0·High57.9
P/FCF
↑
N/A
—
5yr avg: 21.25
30Y Low1.1·High64.3
P/B Ratio
↓
0.56
↓-57% vs avg
5yr avg: 1.30
30Y Low0.2·High1.6
ROE
↑
1.6%
↓+157% vs avg
5yr avg: -2.9%
30Y Low-17%·High14%
Debt/EBITDA
↑
10.95
↑+120% vs avg
5yr avg: 4.97
30Y Low0.1·High16.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HIHO Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Highway Holdings Limited trades at 33.0x earnings, 36% below its 5-year average of 51.2x, sitting at the 89th percentile of its historical range. Compared to the Industrials sector median P/E of 25.5x, the stock trades at a premium of 29%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3M | $8M | $9M | $8M | $12M | $15M | $8M | $13M | $19M | $15M | $17M |
| Enterprise Value | $-1662549 | $3M | $4M | $3M | $7M | $9M | $2M | $4M | $7M | $5M | $8M |
| P/E Ratio → | 32.99 | 76.76 | — | — | 25.64 | — | 11.28 | — | 11.95 | 27.86 | 13.79 |
| P/S Ratio | 0.47 | 1.10 | 1.45 | 0.81 | 0.96 | 1.63 | 0.63 | 0.88 | 0.97 | 0.76 | 0.75 |
| P/B Ratio | 0.56 | 1.30 | 1.38 | 1.01 | 1.27 | 1.53 | 0.73 | 1.25 | 1.58 | 1.31 | 1.45 |
| P/FCF | — | — | 30.92 | 11.58 | — | — | 22.61 | — | 8.80 | 7.32 | 23.63 |
| P/OCF | — | — | 22.13 | 10.26 | — | — | 17.96 | — | 7.80 | 6.67 | 13.77 |
P/E links to full P/E history page with 30-year chart
HIHO EV Ratios
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 | — | 0.40 | 0.63 | 0.33 | 0.57 | 1.00 | 0.15 | 0.27 | 0.38 | 0.24 | 0.36 |
| EV / EBITDA | -22.47 | 40.29 | — | 5.13 | 4.21 | 23.83 | 0.98 | — | 3.26 | 4.67 | 4.45 |
| EV / EBIT | — | 20.28 | — | — | 12.32 | — | 2.15 | — | 3.55 | 6.31 | 5.41 |
| EV / FCF | — | — | 13.38 | 4.75 | — | — | 5.49 | — | 3.48 | 2.37 | 11.15 |
HIHO Profitability
Margins and return-on-capital ratios measuring operating efficiency
Highway Holdings Limited earns an operating margin of -7.2%, below the Industrials sector average of 4.9%. Operating margins have compressed from -4.7% to -7.2% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 1.6% is modest, trailing the sector median of 8.2%.
Margins
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 | 33.3% | 33.3% | 27.0% | 30.7% | 30.5% | 29.5% | 33.1% | 25.1% | 35.2% | 28.4% | 25.8% |
| Operating Margin | -7.2% | -7.2% | -12.2% | -4.7% | 4.6% | -6.7% | 5.9% | -5.3% | 10.1% | 3.9% | 6.6% |
| Net Profit Margin | 1.4% | 1.4% | -15.2% | -2.9% | 3.6% | -5.0% | 5.5% | -4.4% | 8.1% | 2.7% | 5.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.6% | 1.6% | -12.9% | -3.4% | 4.7% | -4.5% | 6.5% | -5.7% | 13.4% | 4.5% | 10.4% |
| ROA | 1.0% | 1.0% | -7.6% | -2.0% | 2.9% | -2.7% | 4.1% | -3.8% | 8.7% | 3.0% | 7.4% |
| ROIC | -31.7% | -31.7% | -24.3% | -9.2% | 10.1% | -10.4% | 18.0% | -61.8% | 161.1% | 28.0% | 42.9% |
| ROCE | -7.7% | -7.7% | -8.9% | -4.9% | 5.3% | -5.0% | 6.4% | -6.9% | 16.7% | 6.5% | 12.5% |
HIHO Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Highway Holdings Limited carries a Debt/EBITDA ratio of 10.9x, which is highly leveraged (243% above the sector average of 3.2x). The company holds a net cash position — cash of $6M exceeds total debt of $810000, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.13 | 0.13 | 0.21 | 0.25 | 0.13 | 0.20 | 0.26 | — | — | — | — |
| Debt / EBITDA | 10.95 | 10.95 | — | 3.09 | 0.72 | 5.11 | 1.43 | — | — | — | — |
| Net Debt / Equity | — | -0.82 | -0.78 | -0.60 | -0.52 | -0.59 | -0.55 | -0.87 | -0.96 | -0.89 | -0.77 |
| Net Debt / EBITDA | -69.76 | -69.76 | — | -7.38 | -2.89 | -15.09 | -3.06 | — | -4.99 | -9.76 | -4.99 |
| Debt / FCF | — | — | -17.54 | -6.83 | — | — | -17.13 | — | -5.32 | -4.95 | -12.49 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($6M) exceeds total debt ($810000)
HIHO Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Highway Holdings Limited's current ratio of 2.79x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 2.41x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 2.62x to 2.79x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.79 | 2.79 | 2.51 | 2.62 | 2.38 | 2.90 | 2.65 | 2.63 | 2.72 | 2.64 | 3.10 |
| Quick Ratio | 2.41 | 2.41 | 2.11 | 2.28 | 1.92 | 2.33 | 2.25 | 2.32 | 2.26 | 2.28 | 2.82 |
| Cash Ratio | 2.01 | 2.01 | 1.72 | 1.73 | 1.42 | 1.96 | 1.79 | 1.81 | 1.85 | 1.61 | 1.80 |
| Asset Turnover | — | 0.78 | 0.56 | 0.74 | 0.83 | 0.59 | 0.69 | 0.94 | 1.06 | 1.12 | 1.35 |
| Inventory Turnover | 4.31 | 4.31 | 2.95 | 5.03 | 3.66 | 2.89 | 4.20 | 6.95 | 4.24 | 6.20 | 11.93 |
| Days Sales Outstanding | — | 50.33 | 72.35 | 67.21 | 66.71 | 38.74 | 58.36 | 57.88 | 42.34 | 63.36 | 68.77 |
HIHO Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Highway Holdings Limited returns 14.1% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 464.2%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 3.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | 14.1% | 6.0% | 6.7% | 12.3% | 4.8% | 6.6% | 3.7% | 9.9% | 5.5% | 7.6% | 7.9% |
| Payout Ratio | 464.2% | 464.2% | — | — | 128.4% | — | 43.3% | — | 66.5% | 213.7% | 109.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.0% | 1.3% | — | — | 3.9% | — | 8.9% | — | 8.4% | 3.6% | 7.3% |
| FCF Yield | — | — | 3.2% | 8.6% | — | — | 4.4% | — | 11.4% | 13.7% | 4.2% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% |
| Total Shareholder Yield | 14.1% | 6.0% | 6.7% | 12.3% | 4.8% | 6.6% | 3.7% | 9.9% | 5.5% | 7.7% | 7.9% |
| Shares Outstanding | — | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M |
Peer Comparison
Compare HIHO with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 HIHOYou | $3M | 33.0 | -22.5 | — | 33.3% | -7.2% | 1.6% | -31.7% | 10.9 |
 FLXS | $295M | 15.5 | 10.4 | 8.7 | 22.2% | 6.0% | 12.7% | 9.9% | 2.0 |
 DAKT | $975M | -95.3 | 16.4 | 12.5 | 25.8% | 4.4% | -4.0% | 13.2% | 0.3 |
 LYTS | $760M | 30.9 | 17.0 | 21.9 | 24.7% | 6.2% | 11.2% | 9.5% | 1.4 |
 CIX | $293M | 15.0 | 9.1 | 15.3 | 30.4% | 14.3% | 13.7% | 20.0% | — |
 TWIN | $266M | -131.5 | 12.0 | 30.1 | 27.2% | 2.9% | -1.2% | 3.9% | 2.0 |
 ASTE | $1B | 31.5 | 14.4 | 56.5 | 26.5% | 4.6% | 5.9% | 6.2% | 3.1 |
 NWPX | $1B | 30.8 | 16.4 | 22.4 | 19.7% | 9.7% | 9.2% | 7.6% | 1.5 |
 HON | $137B | 29.4 | 20.0 | 25.4 | 36.9% | 17.5% | 27.3% | 12.6% | 4.3 |
 EMR | $79B | 34.9 | 18.1 | 29.6 | 52.8% | 19.6% | 9.6% | 8.2% | 2.7 |
 ROK | $50B | 58.5 | 30.6 | 37.1 | 48.1% | 17.1% | 23.5% | 15.1% | 2.1 |
| Industrials Median | — | 25.5 | 13.8 | 20.7 | 32.7% | 4.9% | 8.2% | 6.3% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 28 years · Updated daily
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Start ComparisonHIHO — Frequently Asked Questions
Quick answers to the most common questions about buying HIHO stock.
What is Highway Holdings Limited's P/E ratio?
Highway Holdings Limited's current P/E ratio is 33.0x. The historical average is 19.4x. This places it at the 89th percentile of its historical range.
What is Highway Holdings Limited's EV/EBITDA?
Highway Holdings Limited's current EV/EBITDA is -22.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.9x.
What is Highway Holdings Limited's ROE?
Highway Holdings Limited's return on equity (ROE) is 1.6%. The historical average is 3.1%.
Is HIHO stock overvalued?
Based on historical data, Highway Holdings Limited is trading at a P/E of 33.0x. This is at the 89th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Highway Holdings Limited's dividend yield?
Highway Holdings Limited's current dividend yield is 14.06% with a payout ratio of 464.2%.
What are Highway Holdings Limited's profit margins?
Highway Holdings Limited has 33.3% gross margin and -7.2% operating margin.
How much debt does Highway Holdings Limited have?
Highway Holdings Limited's Debt/EBITDA ratio is 10.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.