Latest Ratios: P/E Ratio -0.2x · EV/EBITDA N/A · ROE -30.1%. (2014–2025 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 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $17M | $15M | $528M | $10.5B | — | — | — | — | — | — | — |
| Enterprise Value | $-9706639 | $-11406992 | $501M | $10.5B | — | — | — | — | — | — | — |
| P/E Ratio → | -0.25 | — | — | 6.19 | — | — | — | — | — | — | — |
| P/S Ratio | 0.68 | 0.61 | 12.73 | 264.01 | — | — | — | — | — | — | — |
| P/B Ratio | 0.08 | 0.21 | 6.99 | 170.90 | — | — | — | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | 18845.25 | — | — | — | — | — | — | — |
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 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.47 | 12.09 | 263.36 | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | 804.72 | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | 854.15 | — | — | — | — | — | — | — |
| 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 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.3% | 37.3% | 61.9% | 61.2% | 59.7% | 59.7% | 61.4% | 61.2% | 71.3% | 73.0% | 71.3% |
| Operating Margin | -58.8% | -58.8% | -11.0% | 30.8% | 31.5% | 32.9% | 28.7% | 30.8% | 36.4% | 41.5% | 36.5% |
| Net Profit Margin | -89.6% | -89.6% | -14.8% | 21.0% | 23.1% | 24.7% | 20.9% | 22.4% | 25.4% | 28.0% | 26.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -30.1% | -30.1% | -9.0% | 16.3% | 20.1% | 26.2% | 24.9% | 33.4% | 44.1% | 60.3% | 65.3% |
| ROA | -28.3% | -28.3% | -8.4% | 14.9% | 17.5% | 22.2% | 20.6% | 27.9% | 35.6% | 44.4% | 47.9% |
| ROIC | -23.2% | -23.2% | -8.1% | 33.8% | 40.8% | 42.7% | 34.7% | 45.3% | 70.4% | 99.9% | 83.0% |
| ROCE | -19.7% | -19.7% | -6.6% | 23.9% | 27.3% | 35.0% | 34.2% | 46.0% | 63.1% | 89.4% | 88.9% |
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 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | — | — | — |
| Debt / EBITDA | — | — | — | 0.01 | 0.02 | 0.03 | 0.04 | 0.03 | — | — | — |
| Net Debt / Equity | — | -0.37 | -0.35 | -0.42 | -0.54 | -0.45 | -0.30 | -0.21 | -0.27 | -0.42 | -0.21 |
| Net Debt / EBITDA | — | — | — | -1.98 | -1.97 | -1.20 | -0.87 | -0.43 | -0.51 | -0.52 | -0.31 |
| Debt / FCF | — | — | — | — | -2.82 | -2.27 | -1.16 | -1.85 | -2.63 | -0.66 | -0.48 |
| Interest Coverage | — | — | — | — | — | — | — | 199.63 | — | — | — |
Net cash position: cash ($27M) exceeds total debt ($554000)
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 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.73 | 7.73 | 7.96 | 9.81 | 5.21 | 3.91 | 2.04 | 1.47 | 3.31 | 3.30 | 3.46 |
| Quick Ratio | 7.73 | 7.73 | 7.95 | 9.79 | 5.19 | 3.88 | 2.04 | 1.46 | 3.30 | 3.29 | 3.45 |
| Cash Ratio | 5.75 | 5.75 | 6.26 | 6.32 | 4.32 | 2.76 | 1.52 | 1.06 | 1.53 | 1.21 | 0.56 |
| Asset Turnover | — | 0.32 | 0.52 | 0.61 | 0.73 | 0.80 | 0.92 | 1.10 | 1.17 | 1.41 | 1.29 |
| Inventory Turnover | — | — | 235.87 | 177.46 | 107.19 | 92.13 | 514.39 | 371.52 | 189.84 | 163.76 | 86.12 |
| Days Sales Outstanding | — | 34.69 | 62.43 | 40.97 | 38.28 | 46.41 | 33.72 | 21.72 | 34.06 | 43.39 | 104.94 |
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 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | 67.9% | 102.5% | — | 51.7% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 16.2% | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Shares Outstanding | — | $5M | $15M | $27M | $23M | $29M | $29M | $29M | $29M | $29M | $29M |
Structural Revenue Model Collapse
Based on reported figures, LICN trades at a P/B of 0.08, which, according to recent market data, suggests that investors are pricing the firm as a distressed asset rather than a going concern with meaningful future growth prospects or sustainable competitive advantages in the SME services sector.
The negative P/E ratio and lack of a forward earnings multiple indicate that the market has completely discounted the company's ability to return to profitability in the near term. This valuation level implies that the market views the company's cash reserves as the only tangible value, effectively ignoring any potential for a business model pivot or recovery in the Fujian SME market.
As reported in financial statements, LICN's ROIC has collapsed from a peak of 24.8% in 2021Q2 to -15.9% in 2025Q4, illustrating a severe and persistent decay in the company's ability to generate returns on its invested capital as the core business model faces structural headwinds.
The transition from high-teens returns to deep negative territory suggests that the company's historical competitive advantage has eroded, likely due to a combination of market saturation and the inability to scale its labor-intensive service model. Investors should monitor whether management can halt this decline, as the current trend indicates that every dollar of capital deployed is currently destroying shareholder value.
According to recent quarterly filings, LICN's asset turnover ratio has declined to 0.14 in 2025Q4, a significant drop from the 0.47 observed in 2021Q2, which suggests that the company's asset base is becoming increasingly unproductive as revenue generation fails to keep pace with the firm's historical scale.
The deterioration in asset turnover highlights a fundamental mismatch between the company's infrastructure and its current revenue-generating capacity. This trend implies that the firm is carrying excess capacity or underutilized assets that are no longer contributing to the bottom line, necessitating a potential rationalization of the cost base to align with the new, lower revenue reality.
Based on the latest quarterly data, LICN maintains a current ratio of 7.73, which, as reported in financial statements, provides a substantial liquidity buffer that appears to be the primary factor preventing a more severe market reaction to the company's ongoing operational losses and cash burn.
While the high current ratio suggests a strong short-term position, it is important to note that this liquidity is largely a function of cash on hand rather than efficient working capital management. The lack of reliance on debt is a positive, yet the rapid depletion of this cash to fund operating losses warrants close investigation into how long this runway can realistically last.
The Price-to-Book ratio is frequently misapplied to LICN, as it fails to account for the fact that the company's book value is heavily comprised of cash rather than productive operating assets, which, according to our analysis, obscures the true extent of the firm's operational distress.
Investors should instead focus on the cash-to-market-cap ratio or an adjusted liquidation value to better understand the firm's downside protection. Relying on P/B in this context is misleading because it treats the cash pile as if it were a standard asset, ignoring the risk that this capital may be inefficiently deployed or trapped in a declining business model.
Includes 30+ ratios · 11 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying LICN stock.
Lichen International Limited's current P/E ratio is -0.2x. The historical average is 6.2x.
Lichen International Limited's return on equity (ROE) is -30.1%. The historical average is 27.3%.
Based on historical data, Lichen International Limited is trading at a P/E of -0.2x. Compare with industry peers and growth rates for a complete picture.
Lichen International Limited has 37.3% gross margin and -58.8% operating margin.