Latest Ratios: P/E Ratio 0.7x · EV/EBITDA N/A · ROE 107.8%. (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 | $4M | $155M | $760M | $260M | $321M | — | — | — |
| Enterprise Value | $3M | $154M | $762M | $264M | $319M | — | — | — |
| P/E Ratio → | 0.74 | 27.23 | — | — | — | — | — | — |
| P/S Ratio | 0.47 | 17.32 | 25.00 | 11.92 | 36.43 | — | — | — |
| P/B Ratio | 0.58 | 21.32 | 219.57 | 33.96 | 66.82 | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — |
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 | — | 17.18 | 25.05 | 12.10 | 36.13 | — | — | — |
| EV / EBITDA | — | — | 935.42 | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — |
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 | 35.1% | 35.1% | 58.6% | 36.9% | 38.0% | 47.9% | 44.5% | 36.9% |
| Operating Margin | -33.2% | -33.2% | 0.2% | -18.9% | -75.9% | 0.5% | 2.9% | -17.6% |
| Net Profit Margin | 64.6% | 64.6% | -4.9% | -19.2% | -75.7% | -3.1% | 1.7% | -17.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 107.8% | 107.8% | -26.6% | -67.2% | -314.3% | — | — | — |
| ROA | 42.9% | 42.9% | -8.8% | -26.4% | -62.8% | -3.5% | 1.6% | -15.4% |
| ROIC | -39.9% | -39.9% | 0.6% | -45.0% | -214.6% | 1.3% | 4.3% | -20.3% |
| ROCE | -41.7% | -41.7% | 0.7% | -38.1% | -102.5% | 1.1% | 4.9% | -29.1% |
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 | 0.10 | 0.10 | 1.09 | 0.64 | 0.95 | — | — | — |
| Debt / EBITDA | — | — | 4.64 | — | — | 37.66 | 22.29 | — |
| Net Debt / Equity | — | -0.17 | 0.48 | 0.51 | -0.55 | — | — | — |
| Net Debt / EBITDA | — | — | 2.03 | — | — | 18.58 | 14.27 | — |
| Debt / FCF | — | — | — | — | — | 4.18 | 7.56 | — |
| Interest Coverage | -46.22 | -46.22 | -36.14 | -29.74 | -158.89 | 1.34 | 5.53 | -26.05 |
Net cash position: cash ($2M) exceeds total debt ($756179)
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 | 1.58 | 1.58 | 1.27 | 0.84 | 2.34 | 1.01 | 1.04 | 0.54 |
| Quick Ratio | 1.58 | 1.58 | 1.27 | 0.84 | 2.34 | 1.01 | 1.04 | 0.42 |
| Cash Ratio | 1.06 | 1.06 | 0.89 | 0.30 | 1.97 | 0.69 | 0.74 | 0.15 |
| Asset Turnover | — | 0.69 | 2.18 | 1.11 | 0.73 | 1.19 | 0.87 | 0.91 |
| Inventory Turnover | — | — | — | — | — | — | — | 10.74 |
| Days Sales Outstanding | — | 85.43 | 25.09 | 46.26 | 24.81 | 34.40 | 30.11 | 46.84 |
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 | 78.7% | 2.1% | 0.1% | — | — | — | — | — |
| Payout Ratio | 57.0% | 57.0% | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 100.0% | 3.7% | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 1.1% | — | — | — |
| Total Shareholder Yield | 78.7% | 2.1% | 0.1% | 0.0% | 1.1% | — | — | — |
| Shares Outstanding | — | $1M | $1M | $1M | $882494 | $968297 | $968297 | $968297 |
Unstable non-operating revenue reliance
According to recent market data, HTCR trades at a P/S ratio of 0.47, which appears artificially low due to the company's reliance on volatile, non-recurring consulting fees rather than a stable, scalable software revenue base that would typically command a premium valuation in the Japanese SaaS market.
The extremely low P/E of 0.74 is a mathematical artifact of non-operating gains rather than a reflection of sustainable earning power. Investors should be wary of using these multiples to justify an entry, as the underlying business is currently contracting and lacks the recurring revenue profile required to support a traditional software valuation.
Based on reported figures, HTCR's ROIC has fluctuated wildly, hitting -20.7% in 2026Q1, which suggests that the company is failing to generate adequate returns on its invested capital as it pivots between software development and high-touch, labor-intensive digital transformation consulting services.
The erratic nature of these returns indicates that capital is being deployed into projects with inconsistent profitability profiles. Without a shift toward higher-margin software licensing, the company appears unlikely to achieve the compounding returns on capital that characterize successful enterprise software firms.
As reported in financial statements, the company's asset turnover ratio has deteriorated to 0.10 in 2026Q1, signaling that the firm's asset base is becoming increasingly unproductive relative to its shrinking revenue, a trend that warrants further investigation into the scalability of its current service-heavy business model.
The rising DSO, which reached 100 days in the most recent quarter, suggests that the company is struggling to collect payments from its enterprise clients in a timely manner. This inefficiency in working capital management further exacerbates the cash burn and limits the company's ability to reinvest in its core software platform.
Based on the company's reported figures, the current ratio of 1.17 in 2026Q1 provides a thin margin of safety, which appears insufficient given the firm's history of negative operating cash flow and the high probability of further liquidity shocks in the absence of new consulting wins.
The company's reliance on non-operating income to maintain its cash position creates a precarious situation where any delay in project-based revenue could lead to a liquidity crisis. Investors should monitor the cash burn rate closely, as the current reserves offer little protection against prolonged operational underperformance.
As indicated by historical data, the P/E ratio is the most commonly misapplied metric for HTCR, as it fails to account for the lumpy, non-recurring nature of the company's IPO-consulting success fees which distort the bottom line and mask the underlying weakness of the core software business.
Analysts should instead focus on Cash Flow from Operations (CFO) and recurring SaaS revenue metrics to gauge the true health of the business. Relying on net income-based valuation multiples in this context is misleading and likely leads to an overestimation of the company's long-term viability.
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Quick answers to the most common questions about buying HTCR stock.
HeartCore Enterprises, Inc.'s current P/E ratio is 0.7x. The historical average is 27.2x.
HeartCore Enterprises, Inc.'s return on equity (ROE) is 107.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -75.1%.
Based on historical data, HeartCore Enterprises, Inc. is trading at a P/E of 0.7x. Compare with industry peers and growth rates for a complete picture.
HeartCore Enterprises, Inc.'s current dividend yield is 78.67% with a payout ratio of 57.0%.
HeartCore Enterprises, Inc. has 35.1% gross margin and -33.2% operating margin.