Latest Ratios: P/E Ratio 20.1x · EV/EBITDA 15.2x · ROE 3.5%. (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 | $40M | $76M | $96M | $20M | — | — | — | — |
| Enterprise Value | $49M | $86M | $105M | $28M | — | — | — | — |
| P/E Ratio → | 20.11 | 39.25 | — | 22.83 | — | — | — | — |
| P/S Ratio | 2.03 | 3.90 | 6.82 | 1.23 | — | — | — | — |
| P/B Ratio | 0.68 | 1.32 | 1.80 | 0.94 | — | — | — | — |
| P/FCF | 60.28 | 115.58 | — | 934.43 | — | — | — | — |
| P/OCF | 45.36 | 86.96 | — | 22.31 | — | — | — | — |
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 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.39 | 7.42 | 1.76 | — | — | — | — |
| EV / EBITDA | 15.25 | 26.51 | — | 13.59 | — | — | — | — |
| EV / EBIT | 20.33 | 35.35 | — | 17.82 | — | — | — | — |
| EV / FCF | — | 130.15 | — | 1328.89 | — | — | — | — |
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 | 32.5% | 32.5% | 32.0% | 32.8% | 34.6% | 35.3% | 39.9% | 43.0% |
| Operating Margin | 12.4% | 12.4% | -11.2% | 6.4% | 14.4% | 18.1% | 22.1% | 31.0% |
| Net Profit Margin | 9.9% | 9.9% | -13.3% | 5.4% | 14.5% | 14.7% | 21.7% | 22.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 3.5% | 3.5% | -5.0% | 5.0% | 23.5% | 32.8% | 36.8% | 40.4% |
| ROA | 2.8% | 2.8% | -3.9% | 2.5% | 10.1% | 18.1% | 20.6% | 21.0% |
| ROIC | 2.8% | 2.8% | -2.6% | 2.7% | 9.7% | 21.1% | 19.4% | 25.2% |
| ROCE | 4.2% | 4.2% | -3.9% | 4.2% | 16.3% | 39.0% | 37.1% | 54.8% |
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 | 0.20 | 0.20 | 0.18 | 0.43 | 1.23 | 0.56 | 0.49 | 0.72 |
| Debt / EBITDA | 3.55 | 3.55 | — | 4.41 | 4.62 | 1.40 | 1.24 | 1.07 |
| Net Debt / Equity | — | 0.17 | 0.16 | 0.39 | 1.07 | 0.52 | 0.31 | 0.67 |
| Net Debt / EBITDA | 2.97 | 2.97 | — | 4.03 | 4.04 | 1.29 | 0.78 | 0.99 |
| Debt / FCF | — | 14.57 | — | 394.46 | — | 44.42 | 1.13 | 7.71 |
| Interest Coverage | 5.18 | 5.18 | -3.02 | 2.45 | 14.97 | 7.37 | 7.88 | 11.25 |
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 | 1.12 | 1.12 | 1.45 | 1.41 | 1.13 | 1.18 | 1.28 | 1.12 |
| Quick Ratio | 0.95 | 0.95 | 1.13 | 1.10 | 0.92 | 0.87 | 1.02 | 0.92 |
| Cash Ratio | 0.13 | 0.13 | 0.11 | 0.11 | 0.17 | 0.05 | 0.26 | 0.06 |
| Asset Turnover | — | 0.27 | 0.22 | 0.50 | 0.56 | 0.99 | 0.82 | 0.94 |
| Inventory Turnover | 5.37 | 5.37 | 3.58 | 4.58 | 5.08 | 4.74 | 4.70 | 5.90 |
| Days Sales Outstanding | — | 198.71 | 163.84 | 150.40 | 139.15 | 101.49 | 118.78 | 146.50 |
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 | 5.0% | 2.5% | — | 4.4% | — | — | — | — |
| FCF Yield | 1.7% | 0.9% | — | 0.1% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $73M | $73M | $12M | $12M | $12M | $12M | $12M |
Working capital and liquidity
According to current market data, HLP trades at a P/E of 20.38 and a P/S of 2.06, suggesting that investors are pricing in a premium for the company's recent 38.96% revenue growth while remaining cautious about the sustainability of its niche mining-focused business model.
The P/FCF multiple of 61.07 appears elevated, indicating that the market is discounting the volatility in cash generation relative to accounting earnings. This valuation suggests that investors should monitor whether the company can transition from high-growth project cycles to consistent, cash-generative operations before justifying current multiples.
As reported in financial statements, HLP's ROIC has fluctuated significantly, peaking at 11.8% in 2021Q2 before compressing to 1.3% in 2025Q4, which highlights the company's struggle to maintain compounding returns amidst the capital-intensive nature of its cold-roll steel fabrication process.
The decline in ROIC suggests that incremental capital investments are not yet yielding the same efficiency as earlier periods, likely due to the high fixed-cost burden of the Weifang facility. Investors should investigate whether this decay is a structural consequence of industry competition or a temporary result of recent capacity expansion.
Based on the provided quarterly data, HLP's cash conversion cycle has expanded to 99 days in 2025Q4, driven by a persistent DSO of 94 days, which indicates that the company is effectively financing its customers' procurement cycles at the expense of its own internal liquidity.
The extended DSO suggests that HLP may lack sufficient bargaining power with its OEM customers, forcing it to carry significant receivables on the balance sheet. This inefficiency appears to be a primary driver of the company's thin cash reserves and warrants further investigation into credit terms.
While the 0.20% debt-to-equity ratio is often cited as a sign of financial strength, this metric obscures the reality that HLP's liquidity is constrained by high working capital requirements rather than excessive leverage, making the current ratio a more critical indicator of near-term solvency.
Relying on the debt-to-equity ratio ignores the company's limited access to external credit and its reliance on internal cash flow to fund operations. Analysts should instead focus on the quick ratio and cash conversion cycle to assess the company's ability to navigate potential downturns in the steel market.
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Quick answers to the most common questions about buying HLP stock.
Hongli Group Inc.'s current P/E ratio is 20.1x. The historical average is 31.0x.
Hongli Group Inc.'s current EV/EBITDA is 15.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 20.0x.
Hongli Group Inc.'s return on equity (ROE) is 3.5%. The historical average is 19.6%.
Based on historical data, Hongli Group Inc. is trading at a P/E of 20.1x. Compare with industry peers and growth rates for a complete picture.
Hongli Group Inc. has 32.5% gross margin and 12.4% operating margin. Operating margin between 10-20% is typical for established companies.
Hongli Group Inc.'s Debt/EBITDA ratio is 3.5x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.