Latest Ratios: P/E Ratio -0.1x · EV/EBITDA N/A · ROE -2.5%. (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 | $809M | $2.2B | $1.7B | $1.8B | $4.5B | $15.3B | $32.0B | — | — | — |
| Enterprise Value | $7.9B | $57.4B | $31.6B | $8.5B | $18.1B | $-9644013480 | $10.3B | — | — | — |
| P/E Ratio → | -0.10 | — | — | 1.85 | 0.44 | 0.70 | 2.28 | — | — | — |
| P/S Ratio | 0.26 | 0.09 | 0.08 | 0.06 | 0.08 | 0.18 | 0.51 | — | — | — |
| P/B Ratio | 0.07 | 0.02 | 0.02 | 0.02 | 0.04 | 0.13 | 0.32 | — | — | — |
| P/FCF | 0.00 | 0.16 | 0.89 | 0.13 | 0.79 | 2.34 | 4.06 | — | — | — |
| P/OCF | 0.47 | 0.16 | 0.85 | 0.13 | 0.77 | 2.28 | 3.95 | — | — | — |
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 | — | 2.27 | 1.53 | 0.28 | 0.32 | -0.11 | 0.17 | — | — | — |
| EV / EBITDA | — | — | — | 3.56 | 1.21 | -0.31 | 0.43 | — | — | — |
| EV / EBIT | — | — | — | 4.95 | 1.29 | -0.32 | 0.46 | — | — | — |
| EV / FCF | — | 4.22 | 16.88 | 0.62 | 3.21 | -1.48 | 1.32 | — | — | — |
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 | 28.4% | 28.4% | 35.5% | 54.8% | 67.5% | 78.5% | 81.7% | 87.1% | 78.2% | 68.4% |
| Operating Margin | -2.5% | -2.5% | -10.8% | 5.6% | 24.5% | 35.5% | 37.5% | 45.9% | 44.5% | 28.2% |
| Net Profit Margin | -9.1% | -9.1% | -20.2% | 2.9% | 15.8% | 24.1% | 22.3% | 28.1% | 31.2% | 17.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2.5% | -2.5% | -4.3% | 0.8% | 8.2% | 18.9% | 19.0% | 37.7% | 62.5% | 37.0% |
| ROA | -1.0% | -1.0% | -1.7% | 0.3% | 2.2% | 5.5% | 6.0% | 10.0% | 9.2% | 3.2% |
| ROIC | -0.3% | -0.3% | -1.1% | 0.8% | 6.2% | 14.7% | 16.4% | 25.0% | 28.4% | 15.1% |
| ROCE | -0.4% | -0.4% | -1.4% | 1.0% | 4.8% | 8.5% | 10.3% | 17.0% | 14.1% | 5.5% |
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 | 0.88 | 0.88 | 0.70 | 0.50 | 0.60 | 0.47 | 0.35 | 0.72 | 1.03 | 1.92 |
| Debt / EBITDA | — | — | — | 21.37 | 4.28 | 1.78 | 1.41 | 1.32 | 1.42 | 2.99 |
| Net Debt / Equity | — | 0.60 | 0.34 | 0.07 | 0.13 | -0.22 | -0.22 | -0.05 | 0.13 | 0.30 |
| Net Debt / EBITDA | — | — | — | 2.82 | 0.91 | -0.81 | -0.89 | -0.10 | 0.17 | 0.46 |
| Debt / FCF | — | 4.06 | 15.99 | 0.49 | 2.42 | -3.82 | -2.75 | -0.96 | — | 2.00 |
| Interest Coverage | -0.15 | -0.15 | -0.42 | 0.18 | 0.91 | 13.88 | 10.41 | 10.80 | 18.05 | 6.80 |
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 | 1.04 | 1.04 | 0.89 | 0.65 | 0.42 | 3.02 | 18.32 | 13.45 | 6.99 | 3.09 |
| Quick Ratio | 1.04 | 1.04 | 0.89 | 0.65 | 0.42 | 3.02 | 18.32 | 13.45 | 6.99 | 3.09 |
| Cash Ratio | 0.45 | 0.45 | 0.53 | 0.45 | 0.23 | 2.47 | 14.06 | 9.06 | 4.62 | 1.61 |
| Asset Turnover | — | 0.11 | 0.10 | 0.12 | 0.14 | 0.19 | 0.21 | 0.32 | 0.38 | 0.18 |
| 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 | — | — | 100.0% | 88.2% | 100.0% | — | — | — | — | — |
| Payout Ratio | — | — | — | 177.3% | 99.2% | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 54.1% | 227.3% | 143.2% | 43.9% | — | — | — |
| FCF Yield | 100.0% | 613.3% | 112.4% | 778.7% | 126.9% | 42.7% | 24.6% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 50.7% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 100.0% | 88.2% | 100.0% | 50.7% | 0.0% | — | — | — |
| Shares Outstanding | — | $87M | $70M | $57M | $57M | $68M | $56M | $62M | $62M | $62M |
Includes 30+ ratios · 9 years · Updated daily
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Quick answers to the most common questions about buying LU stock.
Lufax Holding Ltd's current P/E ratio is -0.1x. The historical average is 1.3x.
Lufax Holding Ltd's return on equity (ROE) is -2.5%. The historical average is 19.7%.
Based on historical data, Lufax Holding Ltd is trading at a P/E of -0.1x. Compare with industry peers and growth rates for a complete picture.
Lufax Holding Ltd has 28.4% gross margin and -2.5% operating margin.
Key Metrics
Top Statement Risk
Credit losses eroding capital base
Deep Discount Signals Distressed Pricing
According to recent market data, LU trades at 0.07 times book value and 0.25 times sales, a level that suggests investors assign little value to the equity beyond liquidation-style asset coverage given negative trailing earnings.
A price-to-book of 0.07 implies the market values the equity at a small fraction of reported book value, which may reflect skepticism about whether the 77.5B equity base will be preserved as credit losses continue. Because trailing P/E is negative at -2.77, earnings-based multiples offer no meaningful anchor, leaving book value and cash coverage as the only practical reference points. Investors should monitor whether tangible book value continues to erode, since the discount appears to hinge on that trajectory rather than on any demonstrated earnings recovery.
ROE Negative Across Most Periods
Based on Lufax's reported figures, return on equity ran between -0.3% and -1.8% across the ten quarters shown, with ROA between -0.1% and -0.7%, indicating the equity base has not generated a positive return in this window.
A DuPont view shows that the negative ROE is driven by a thin or negative net interest margin in several quarters combined with an efficiency ratio that frequently exceeds 90%, leaving little operating leverage. Non-interest income exceeded 100% of total revenue in some quarters, suggesting reported profitability depends on fee and facilitation income that is volatile rather than on a stable spread. The modest equity-to-assets ratio near 0.39 to 0.43 means leverage is not the source of the losses, so the weakness appears to originate in credit costs and operating expenses.
Spread Volatility Overwhelms Cost Control
As reported in financial statements, NIM swung between -0.1% and 1.9% while the efficiency ratio ranged from 21.6% to 103.4%, indicating core spread economics and cost discipline have both been unstable across recent quarters.
The NIM oscillation from negative readings in 2025Q1 and 2026Q1 to 1.9% in 2026Q3 suggests timing effects in loan loss and funding recognition rather than a durable margin improvement. Efficiency ratios that spike above 90% in several periods indicate that operating costs frequently absorb most of revenue, with little evidence of consistent cost control. Given that the 2026Q3 rebound may not be durable, investors should monitor whether a sustained NIM above 1.5% and efficiency below 60% emerge before drawing conclusions about operating leverage.
Equity Ratio Thins Under Sustained Losses
Based on reported equity-to-assets ratios, the metric slipped from 0.43 in 2025Q2 to 0.39 in recent quarters, suggesting the capital cushion is shrinking as losses reduce equity faster than the balance sheet contracts.
Equity-to-assets remaining near 0.39 is not alarming in absolute terms, but its downward drift alongside shrinking total assets indicates capital is being consumed by operating losses rather than retained. Regulatory capital ratios such as CET1 are not provided in the supplied data, so an assessment against minimum requirements cannot be made and should not be inferred. Investors should monitor whether equity-to-assets continues to decline, as further erosion would constrain any capacity for capital return or growth.
Book Value Discount May Mislead on Recovery
The single most misapplied metric here is price-to-book, which at 0.07 appears extremely cheap, but it may obscure that reported book value is itself declining through credit losses and may overstate recoverable equity.
A low P/B can look like deep value, yet when book value is shrinking through ongoing provisions, the denominator is falling and the apparent discount may narrow or widen without any change in price. Tangible book value per share has declined from roughly 1,548 in 2024Q2 to figures in the low hundreds in recent periods on the reported series, which analysts should weigh against the headline multiple. A more reliable adjustment is to track tangible book value trajectory and loan-loss coverage together rather than anchoring on the static P/B figure.