Latest Ratios: P/E Ratio 0.5x · EV/EBITDA N/A · ROE 3.4%. (2024–2025 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 |
|---|---|---|---|
| Market Cap | $2M | $3M | $2M |
| Enterprise Value | $6M | $7M | $2M |
| P/E Ratio → | 0.50 | 0.69 | 0.61 |
| P/S Ratio | — | — | — |
| P/B Ratio | 0.01 | 0.02 | 0.02 |
| 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 |
|---|---|---|---|
| EV / Revenue | — | — | — |
| EV / EBITDA | — | — | 0.38 |
| EV / EBIT | — | — | 0.38 |
| 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 |
|---|---|---|---|
| Gross Margin | — | — | — |
| Operating Margin | — | — | — |
| Net Profit Margin | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 |
|---|---|---|---|
| ROE | 3.4% | 3.4% | 2.6% |
| ROA | 3.3% | 3.3% | 2.5% |
| ROIC | -0.7% | -0.7% | — |
| ROCE | -0.9% | -0.9% | -0.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 |
|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | — |
| Debt / EBITDA | — | — | — |
| Net Debt / Equity | — | 0.02 | -0.01 |
| Net Debt / EBITDA | — | — | -0.21 |
| Debt / FCF | — | — | — |
| Interest Coverage | -2.73 | -2.73 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 |
|---|---|---|---|
| Current Ratio | 0.91 | 0.91 | 25.30 |
| Quick Ratio | 0.91 | 0.91 | 25.30 |
| Cash Ratio | 0.01 | 0.01 | 21.29 |
| Asset Turnover | — | — | — |
| 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 |
|---|---|---|---|
| Dividend Yield | — | — | — |
| Payout Ratio | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 |
|---|---|---|---|
| Earnings Yield | 100.0% | 144.4% | 165.2% |
| FCF Yield | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $16M | $22M |
Liquidation and search failure
As reported in financial statements, MACIW's P/E ratio of 0.50 and P/B ratio of 0.01 are fundamentally disconnected from operational reality, reflecting the speculative nature of a shell company where market pricing is driven by warrant optionality rather than any underlying earnings or tangible book value.
Investors should recognize that traditional valuation multiples are entirely inappropriate for a pre-combination SPAC. The current P/B ratio suggests a deep discount to assets, yet this ignores the fact that the majority of these assets are likely restricted trust funds rather than liquid capital available for operations.
Based on reported figures, the company's ROIC has trended into negative territory, reaching -0.3% in 2026Q1, which indicates that the capital deployed toward the search mandate is failing to generate any productive return while simultaneously eroding the equity base of the entity.
The consistent decay in ROIC reflects the structural inefficiency of maintaining a public shell vehicle without an active business. This trend suggests that every dollar of capital currently held is being slowly consumed by administrative and legal overhead rather than being compounded through productive investment.
According to recent SEC filings, the current ratio has deteriorated sharply from 97.39 in 2024Q3 to 0.78 in 2026Q1, signaling that the company's ability to cover its short-term obligations is rapidly failing as cash reserves are depleted by ongoing search-related expenses.
A current ratio falling below 1.0 is a critical warning sign for a shell company, as it implies that current liabilities now exceed the available liquid assets. This liquidity crunch warrants immediate investigation, as it may force the sponsor to provide emergency funding or risk an involuntary liquidation.
As indicated by the financial data, the company's D/E ratio has climbed to 0.02 in 2026Q1, marking a shift from its previously debt-free status and suggesting an increasing reliance on external financing to sustain operations as internal cash reserves reach a critical low.
The emergence of debt on the balance sheet is a concerning development that suggests the sponsor is likely bridging the funding gap to keep the vehicle alive. Investors should monitor whether this debt is convertible or carries restrictive covenants that could complicate a future merger transaction.
The P/E ratio is the most commonly misapplied metric for MACIW, as it obscures the fact that the company generates zero revenue and relies entirely on non-operating items, making any earnings-based valuation a misleading indicator of the firm's actual financial health or future potential.
Analysts should instead focus on Net Asset Value (NAV) per share and the remaining time on the search clock. Using P/E to evaluate a shell company ignores the fundamental reality that the entity is a vehicle for capital deployment, not a business currently engaged in profit-generating activities.
Includes 30+ ratios · 2 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying MACIW stock.
Melar Acquisition Corp. I Warrant's current P/E ratio is 0.5x. The historical average is 0.6x.
Melar Acquisition Corp. I Warrant's return on equity (ROE) is 3.4%. The historical average is 3.0%.
Based on historical data, Melar Acquisition Corp. I Warrant is trading at a P/E of 0.5x. Compare with industry peers and growth rates for a complete picture.