Latest Ratios: P/E Ratio 0.9x · EV/EBITDA -7.0x · ROE 0.9%. (2017–2025 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 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $534854 | $1M | $2M | $11M | $18M | $18M | $84M | — | — | — |
| Enterprise Value | $-30413153 | $-208783905 | $-140744713 | $-61871272 | $77M | $138M | $30M | — | — | — |
| P/E Ratio → | 0.92 | 0.36 | — | 0.03 | — | — | — | — | — | — |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.01 | 0.02 | 0.01 | 0.07 | — | — | — |
| P/B Ratio | 0.01 | 0.00 | 0.00 | 0.03 | 0.05 | 0.05 | 0.18 | — | — | — |
| P/FCF | 0.38 | 0.15 | — | 0.10 | — | — | 0.65 | — | — | — |
| P/OCF | 0.20 | 0.08 | — | 0.08 | — | — | 0.61 | — | — | — |
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 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.14 | -0.11 | -0.05 | 0.07 | 0.06 | 0.02 | — | — | — |
| EV / EBITDA | -7.00 | -7.08 | -9.19 | -0.96 | — | — | — | — | — | — |
| EV / EBIT | -31.91 | -20.00 | — | -1.21 | — | — | — | — | — | — |
| EV / FCF | — | -21.68 | — | -0.58 | — | — | 0.23 | — | — | — |
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 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 27.1% | 27.1% | 30.5% | 39.0% | 36.6% | 24.7% | 33.1% | 36.4% | 37.4% | 36.7% |
| Operating Margin | 0.4% | 0.4% | -1.7% | 4.3% | -3.8% | -5.1% | -2.1% | 0.2% | 4.9% | -38.1% |
| Net Profit Margin | 0.3% | 0.3% | -0.1% | 5.9% | -2.7% | -4.8% | -1.5% | 1.5% | 0.6% | -36.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.9% | 0.9% | -0.2% | 18.7% | -8.9% | -26.0% | -22.9% | — | 8.6% | — |
| ROA | 0.4% | 0.4% | -0.1% | 6.9% | -2.1% | -6.7% | -2.0% | 3.5% | 1.3% | -58.6% |
| ROIC | 1.9% | 1.9% | -5.0% | 10.4% | -7.4% | -19.2% | -71.4% | — | 23.6% | — |
| ROCE | 1.0% | 1.0% | -4.1% | 9.4% | -7.5% | -16.2% | -5.6% | 1.6% | 85.4% | -1954.4% |
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 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.21 | 0.21 | 0.21 | 0.43 | 0.98 | 1.39 | 0.75 | — | 1.34 | — |
| Debt / EBITDA | 3.13 | 3.13 | 5.93 | 2.72 | — | — | — | 6.81 | 1.75 | — |
| Net Debt / Equity | — | -0.49 | -0.33 | -0.18 | 0.17 | 0.33 | -0.12 | — | 1.16 | — |
| Net Debt / EBITDA | -7.12 | -7.12 | -9.30 | -1.13 | — | — | — | -9.46 | 1.51 | — |
| Debt / FCF | — | -21.83 | — | -0.68 | — | — | -0.42 | -0.46 | 0.64 | — |
| Interest Coverage | — | — | — | 81.01 | -8.63 | -35.69 | -22.39 | 81.03 | 1.07 | — |
Net cash position: cash ($302M) exceeds total debt ($92M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.52 | 7.52 | 1.44 | 1.54 | 1.34 | 1.16 | 1.81 | 1.28 | 1.07 | 0.86 |
| Quick Ratio | 7.52 | 7.52 | 1.44 | 1.54 | 1.69 | 1.01 | 1.23 | 0.83 | 0.49 | 0.61 |
| Cash Ratio | 4.34 | 4.34 | 0.57 | 0.65 | 0.50 | 0.31 | 0.73 | 0.24 | 0.02 | 0.08 |
| Asset Turnover | — | 1.64 | 1.41 | 1.26 | 1.06 | 1.21 | 0.91 | 1.95 | 1.52 | 1.59 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — |
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 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 100.0% | 277.6% | — | 3111.1% | — | — | — | — | — | — |
| FCF Yield | 100.0% | 679.1% | — | 959.1% | — | — | 153.5% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 4.7% | 100.0% | 37.8% | 16.4% | 2.4% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 4.7% | 100.0% | 37.8% | 16.4% | 2.4% | — | — | — |
| Shares Outstanding | — | $504579 | $506900 | $2M | $3M | $3M | $2M | $3M | $2M | $1M |
Regulatory commission structure shifts
Based on reported financial data, Huize's P/B ratio has experienced extreme volatility, plummeting from over 800x in early 2025 to levels that suggest the market is heavily discounting the firm's book value due to persistent concerns regarding the long-term viability of its commission-based revenue model.
The dramatic contraction in valuation multiples indicates that investors are increasingly skeptical of the company's ability to generate sustainable returns on its equity base. This pricing behavior suggests that the market views the current book value as potentially overstated, likely due to the inclusion of intangible contract assets that may be subject to future impairment.
As reported in recent quarterly filings, the combined ratio has fluctuated between 93.8% and 109.2%, demonstrating that Huize struggles to maintain consistent underwriting profitability in an environment characterized by high variable costs and intense competition for digital traffic among Chinese insurance intermediaries.
The inability to keep the combined ratio consistently below the 100% threshold suggests that the company's underwriting operations are highly sensitive to external cost pressures. Investors should monitor whether the recent improvement to 96.4% in 2025Q2 represents a sustainable trend or merely a temporary reprieve from competitive pricing dynamics.
According to financial statements, the company's debt-to-equity ratio has shown significant variance, peaking at 0.65 in 2023Q1 before moderating to 0.21 in 2025Q2, which indicates that Huize is actively managing its capital structure in response to shifting regulatory requirements and internal liquidity needs.
While the reduction in leverage appears to be a defensive move, it also reflects the firm's limited ability to deploy capital effectively for growth. The current leverage profile warrants further investigation into whether the company is maintaining sufficient capital buffers to withstand potential shocks to its long-term policy persistency rates.
Investors frequently misapply the P/E ratio to Huize, which obscures the reality that the company's earnings are heavily influenced by non-cash accruals and volatile commission recognition rather than consistent cash-generating brokerage operations, making P/B a more appropriate anchor for assessing the firm's underlying financial health.
Relying on P/E in this context is misleading because it ignores the significant estimation risk embedded in contract assets and the impact of stock-based compensation on reported net income. A focus on book value, adjusted for the quality of contract assets, provides a more reliable indicator of the firm's true economic value.
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Quick answers to the most common questions about buying HUIZ stock.
Huize Holding Limited's current P/E ratio is 0.9x. The historical average is 0.2x. This places it at the 100th percentile of its historical range.
Huize Holding Limited's current EV/EBITDA is -7.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
Huize Holding Limited's return on equity (ROE) is 0.9%. The historical average is -4.2%.
Based on historical data, Huize Holding Limited is trading at a P/E of 0.9x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Huize Holding Limited has 27.1% gross margin and 0.4% operating margin.
Huize Holding Limited's Debt/EBITDA ratio is 3.1x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.