Latest Ratios: P/E Ratio -0.2x · EV/EBITDA N/A · ROE -71.9%. (2017–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5M | $5M | $19M | $34M | $35M | $91M | $241M | — | — |
| Enterprise Value | $4M | $-1906028 | $23M | $-51687459 | $-40470700 | $58M | $63M | — | — |
| P/E Ratio → | -0.23 | — | — | 1.56 | — | — | — | — | — |
| P/S Ratio | 0.13 | 0.02 | 0.05 | 0.11 | 0.11 | 0.24 | 0.37 | — | — |
| P/B Ratio | 0.26 | 0.04 | 0.07 | 0.10 | 0.11 | 0.23 | 0.37 | — | — |
| P/FCF | — | — | — | — | 0.18 | — | — | — | — |
| P/OCF | — | — | — | — | 0.18 | — | — | — | — |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.01 | 0.07 | -0.16 | -0.13 | 0.15 | 0.10 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | -0.21 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.6% | 48.6% | 53.5% | 57.3% | 59.3% | 32.4% | 42.0% | 53.1% | 49.6% |
| Operating Margin | -33.7% | -33.7% | -27.7% | -13.8% | -29.7% | -66.7% | -3.5% | 15.2% | 9.1% |
| Net Profit Margin | -59.1% | -59.1% | -26.5% | 6.8% | -28.3% | -72.2% | -4.0% | 13.2% | 6.6% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -71.9% | -71.9% | -29.6% | 6.7% | -25.7% | -54.1% | -31.2% | — | — |
| ROA | -37.2% | -37.2% | -17.5% | 4.1% | -16.6% | -37.5% | -3.9% | 12.4% | 3.6% |
| ROIC | -30.9% | -30.9% | -26.9% | -13.6% | -24.0% | -47.1% | -3.7% | — | — |
| ROCE | -37.1% | -37.1% | -29.0% | -13.3% | -26.5% | -49.3% | -4.7% | 18.0% | 6.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.25 | 0.25 | 0.17 | 0.16 | 0.07 | 0.07 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.06 | 0.02 | -0.25 | -0.24 | -0.09 | -0.28 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | -1.04 | -3.97 |
| Debt / FCF | — | — | — | — | -0.39 | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | 470.02 | 59.54 |
Net cash position: cash ($37M) exceeds total debt ($30M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.20 | 1.20 | 1.60 | 1.90 | 2.28 | 2.99 | 3.18 | 4.72 | 4.87 |
| Quick Ratio | 1.20 | 1.20 | 1.60 | 1.90 | 2.08 | 2.99 | 3.03 | 4.59 | 4.76 |
| Cash Ratio | 0.63 | 0.63 | 0.69 | 0.88 | 1.11 | 1.18 | 0.99 | 2.30 | 3.30 |
| Asset Turnover | — | 0.84 | 0.74 | 0.56 | 0.63 | 0.67 | 0.72 | 0.72 | 0.54 |
| Inventory Turnover | — | — | — | 1378.48 | 3.26 | — | 9.34 | 13.60 | 12.69 |
| Days Sales Outstanding | — | 103.81 | 149.65 | 224.53 | 211.77 | 287.78 | 302.39 | 235.88 | 196.68 |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 64.2% | — | — | — | — | — |
| FCF Yield | — | — | — | — | 557.1% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 16.7% | 36.7% | 1.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 16.7% | 36.7% | 1.0% | — | — |
| Shares Outstanding | — | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $464942 |
Liquidity and operational runway
According to recent market data, KRKR trades at a price-to-sales ratio of 0.13, a valuation level that suggests investors are pricing in significant long-term terminal risk rather than growth, as the company struggles to find a sustainable path toward positive earnings in the current Chinese economic environment.
The absence of a meaningful P/E ratio and the depressed P/S multiple indicate that the market views the company as a distressed asset rather than a growth-oriented information provider. This valuation implies that the market has largely discounted the potential for a turnaround in the core advertising and enterprise services business, reflecting deep skepticism regarding the company's ability to monetize its platform.
Based on reported financial statements, KRKR's ROIC has remained consistently negative, reaching -3.5% in 2023Q4, which highlights a fundamental inability to generate returns on invested capital that exceed the cost of funding, suggesting that the company's current business model is destroying rather than creating shareholder value.
The persistent negative ROIC trend indicates that the company's investments in content and service infrastructure are not yielding the expected economic returns. This decay in capital efficiency appears structural, as the company continues to struggle with high fixed costs that are not being offset by sufficient revenue growth or margin expansion.
As reported in quarterly filings, KRKR's DSO remains exceptionally high at 493 days in 2023Q4, which suggests that the company is effectively acting as a financier for its clients, significantly straining its own cash conversion cycle and limiting its ability to reinvest in core operations.
The extended collection period for receivables indicates a lack of bargaining power relative to its enterprise customers, forcing the company to carry significant credit risk on its balance sheet. This inefficiency in working capital management exacerbates the company's liquidity challenges, as cash remains tied up in long-dated accounts receivable rather than supporting operational needs.
According to the latest balance sheet data, KRKR's current ratio of 1.60 in 2023Q4 masks a deteriorating cash position, as the company's reliance on non-liquid assets and receivables leaves it vulnerable to sudden shocks in the Chinese primary market financing environment.
While the current ratio appears adequate on the surface, the quality of these current assets is questionable given the extended collection cycles and the potential for impairment. Investors should monitor the company's ability to maintain its operational runway, as the rapid depletion of cash reserves suggests that the current liquidity position may not be sustainable under continued stress.
Based on an analysis of KRKR's business model, the P/S ratio is frequently misapplied by market participants, as it fails to account for the high fulfillment costs and low-margin nature of the company's enterprise value-added services, which significantly inflate top-line revenue relative to actual economic profit.
Using revenue as a primary valuation anchor obscures the fact that a large portion of KRKR's top-line is tied to labor-intensive, low-margin consulting and event services rather than scalable digital subscriptions. A more appropriate metric would be a focus on contribution margin or cash-flow-based valuation, which would better reflect the company's true earning power and operational sustainability.
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying KRKR stock.
36Kr Holdings Inc.'s current P/E ratio is -0.2x. The historical average is 1.6x.
36Kr Holdings Inc.'s return on equity (ROE) is -71.9%. The historical average is -34.3%.
Based on historical data, 36Kr Holdings Inc. is trading at a P/E of -0.2x. Compare with industry peers and growth rates for a complete picture.
36Kr Holdings Inc. has 48.6% gross margin and -33.7% operating margin.