MASTERBEEF GROUP(MB)Earnings, Financials & Key Ratios

MB•NASDAQ

$8.11

$139M mkt cap·92.1× P/E·Price updated May 6, 2026

SectorConsumer Cyclical IndustryRestaurants Sub-IndustryEthnic Cuisine Chains and Hot Pot

AboutMasterBeef Group is a full-service restaurant group based in Hong Kong, specializing in Taiwanese hotpot and Taiwanese barbecue. As of April 2025, the company operates 12 restaurant outlets under the “Master Beef” and “Anping Grill” brands. According to the Frost & Sullivan Report, in 2023, the Master Beef brand ranked first among specialty hotpot restaurant chain brands and Taiwanese hotpot restaurant chain brands in Hong Kong in terms of revenue, capturing approximately 9.7% market share in the overall Taiwanese cuisine market in Hong Kong.Show more

Revenue$504M+0.9%
EBITDA$73M-57.2%
Net Income$33M+996.4%
EPS (Diluted)0.69+991.8%
Gross Margin34.03%-49.7%
EBITDA Margin14.44%-57.6%
Operating Margin-1.15%-106.7%
Net Margin6.53%+986.8%
ROE55.46%+1039.5%
ROIC-4.45%-106.7%
Debt/Equity6.60+207.2%
Interest Coverage-0.57-106.4%

Technical→

MB Key Insights

MASTERBEEF GROUP (MB) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Excellent 3Y average ROE of 27.9%
✓Momentum leader: RS Rating 86 (top 14%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 37.8%
✓Efficient asset utilization: 1.6x turnover

✗Weaknesses

✗High debt to equity ratio of 6.6x
✗Trading more than 30% below 52-week high
✗Expensive at 105.7x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

MB Price & Volume

MASTERBEEF GROUP (MB) stock price & volume — 10-year historical chart

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MB Growth Metrics

MASTERBEEF GROUP (MB) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years37.82%

3 Years40.26%

TTM33.77%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM-144.08%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM-144.52%

Return on Capital

10 Years2.83%

5 Years8.96%

3 Years23.09%

Last Year-4.33%

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
TSNTyson Foods, Inc.Direct Competitor	24.24B	68.09	50.07	2.12%	0.81%	2.48%	0.48
JBSJBS N.V.Direct Competitor	13.59B	16.69	2.70	14.61%	2.44%	120.63%	2.68
HRLHormel Foods CorporationDirect Competitor	11.39B	20.70	23.79	1.55%	4.03%	4.3%	0.36
SFDSmithfield Foods, Inc.Product Competitor	10.29B	26.17	10.43		6.48%	14.66%	0.34
CALMCal-Maine Foods, Inc.Product Competitor	3.62B	76.05	3.05	83.19%	27.37%	42.74%
LWAYLifeway Foods, Inc.Product Competitor	405.93M	26.65	29.94	13.74%	6.52%	17.25%	0.00
NOMDNomad Foods LimitedProduct Competitor	1.44B	10.13	9.49	-2.17%	4.51%	5.35%	0.92
DEDeere & CompanySupply Chain	160.38B	591.64	31.98	-2.23%	8.88%	15.46%	2.46

Compare MB vs Peers

MASTERBEEF GROUP (MB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs TSN

Most directly comparable listed peer for MB.

Scale Benchmark

vs DE

Larger-name benchmark to compare MB against a more recognizable public peer.

Peer Set

Compare Top 5

vs TSN, JBS, HRL, SFD

MB Income Statement

MASTERBEEF GROUP (MB) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'15	Dec'16	Dec'17	Dec'22	Dec'23	Dec'24	TTM
Sales/Revenue	101.37M	139.02M	182.63M	456.69M	499.54M	503.98M	228.91M
Revenue Growth %	-	37.14%	31.37%	150.07%	9.38%	0.89%	33.77%
Cost of Goods Sold	37.19M	43.08M	51.87M	161.07M	161.84M	332.5M	69.02M
COGS % of Revenue	36.69%	30.99%	28.4%	35.27%	32.4%	65.97%	-
Gross Profit	64.18M▲ 0%	95.94M▲ 49.5%	130.76M▲ 36.3%	295.62M▲ 126.1%	337.7M▲ 14.2%	171.48M▼ 49.2%	159.89M▲ 0%
Gross Margin %	63.31%	69.01%	71.6%	64.73%	67.6%	34.03%	69.85%
Gross Profit Growth %	-	49.49%	36.29%	126.09%	14.23%	-49.22%	-
Operating Expenses	98.93M	117.27M	145.11M	252.2M	251.91M	177.28M	197.72M
OpEx % of Revenue	97.6%	84.36%	79.46%	55.22%	50.43%	35.18%	-
Selling, General & Admin	29.53M	30.5M	37.47M	172.49M	161.57M	55.13M	51.58M
SG&A % of Revenue	29.13%	21.94%	20.52%	37.77%	32.34%	10.94%	-
Research & Development	23.06M	30.32M	35.81M	0	0	5.93M	57.68M
R&D % of Revenue	22.75%	21.81%	19.61%	-	-	1.18%	-
Other Operating Expenses	46.34M	56.46M	71.83M	79.71M	90.34M	116.22M	4M
Operating Income	-34.74M▲ 0%	-21.33M▲ 38.6%	-14.35M▲ 32.7%	43.42M▲ 402.6%	85.79M▲ 97.6%	-5.8M▼ 106.8%	-37.82M▲ 0%
Operating Margin %	-34.27%	-15.34%	-7.86%	9.51%	17.17%	-1.15%	-16.52%
Operating Income Growth %	-	38.6%	32.73%	402.56%	97.59%	-106.76%	-
EBITDA	-28.23M	-13.58M	-5.2M	111.99M	170.05M	72.8M	-16.53M
EBITDA Margin %	-27.84%	-9.77%	-2.85%	24.52%	34.04%	14.44%	-7.22%
EBITDA Growth %	-	51.9%	61.7%	2253.69%	51.84%	-57.19%	-165.25%
D&A (Non-Cash Add-back)	6.52M	7.75M	9.15M	68.57M	84.26M	78.6M	21.29M
EBIT	-34.89M	0	0	45.39M	20.27M	45.8M	-28.51M
Net Interest Income	0	0	0	-7.57M	-9.61M	-9.51M	0
Interest Income	0	0	0	28.25K	0	682.41K	0
Interest Expense	955K	0	0	7.6M	9.61M	10.19M	5.37M
Other Income/Expense	-1.1M	-1.33M	-275K	-5.63M	-75.13M	41.42M	-2.86M
Pretax Income	-35.84M▲ 0%	-22.66M▲ 36.8%	-14.63M▲ 35.5%	37.79M▲ 358.4%	10.66M▼ 71.8%	35.61M▲ 234.1%	-40.68M▲ 0%
Pretax Margin %	-35.36%	-16.3%	-8.01%	8.27%	2.13%	7.07%	-17.77%
Income Tax	246K	321K	167K	4.38M	7.66M	2.71M	-1.99M
Effective Tax Rate %	-0.69%	-1.42%	-1.14%	11.59%	71.85%	7.62%	4.88%
Net Income	-36.09M▲ 0%	-22.98M▲ 36.3%	-14.79M▲ 35.6%	33.41M▲ 325.9%	3M▼ 91.0%	32.9M▲ 996.4%	-38.7M▲ 0%
Net Margin %	-35.6%	-16.53%	-8.1%	7.32%	0.6%	6.53%	-16.91%
Net Income Growth %	-	36.33%	35.63%	325.86%	-91.02%	996.43%	-144.08%
Net Income (Continuing)	-36.09M	-22.98M	-14.79M	33.41M	3M	32.9M	-38.7M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0
EPS (Diluted)	-1.37▲ 0%	-0.48▲ 65.0%	-0.31▲ 35.4%	0.70▲ 325.8%	0.06▼ 91.0%	0.69▲ 991.8%	-0.81▲ 0%
EPS Growth %	-	64.96%	35.42%	325.81%	-90.97%	991.77%	-144.52%
EPS (Basic)	-0.76	-0.48	-0.31	0.70	0.06	0.69	-
Diluted Shares Outstanding	26.32M	47.49M	47.49M	47.49M	47.49M	47.49M	47.49M
Basic Shares Outstanding	47.49M	47.49M	47.49M	47.49M	47.49M	47.49M	47.49M
Dividend Payout Ratio	-	-	-	-	-	-	-

MB Balance Sheet

MASTERBEEF GROUP (MB) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'15	Dec'16	Dec'17	Dec'22	Dec'23	Dec'24	TTM
Total Current Assets	103.13M	98.69M	248.55M	244.52M	291.16M	176.39M	349.32M
Cash & Short-Term Investments	93.41M	85.86M	232.02M	196.3M	187.65M	117.34M	325.09M
Cash Only	93.41M	85.86M	232.02M	196.3M	187.65M	117.34M	154.07M
Short-Term Investments	0	0	0	0	0	0	171.02M
Accounts Receivable	6.64M	9.13M	10.92M	4.22M	62.19M	20.71M	12.64M
Days Sales Outstanding	23.92	23.97	21.82	3.38	45.44	15	19.65
Inventory	0	0	0	31.23M	25.79M	20.35M	0
Days Inventory Outstanding	-	-	-	70.78	58.17	22.34	-
Other Current Assets	3.08M	3.7M	5.61M	0	0	0	11.59M
Total Non-Current Assets	38.28M	44.82M	52.77M	211.34M	164.93M	131.93M	221.97M
Property, Plant & Equipment	31.75M	33.1M	32.87M	191.44M	149.87M	112.06M	33M
Fixed Asset Turnover	3.19x	4.20x	5.56x	2.39x	3.33x	4.50x	6.91x
Goodwill	5.4M	9.04M	11.58M	0	0	0	111.47M
Intangible Assets	636K	2.03M	7.38M	0	0	0	69.27M
Long-Term Investments	0	0	0	0	0	0	0
Other Non-Current Assets	498K	650K	934K	14.49M	10.89M	10.9M	19.25M
Total Assets	141.41M▲ 0%	143.51M▲ 1.5%	301.31M▲ 110.0%	455.86M▲ 51.3%	456.08M▲ 0.0%	308.32M▼ 32.4%	571.29M▲ 0%
Asset Turnover	0.72x	0.97x	0.61x	1.00x	1.10x	1.63x	0.52x
Asset Growth %	-	1.49%	109.95%	51.29%	0.05%	-32.4%	406.53%
Total Current Liabilities	16.35M	20.74M	28.69M	305.08M	283.64M	212.72M	36.98M
Accounts Payable	4.43M	4.83M	7.45M	17.78M	16.2M	16.66M	11.33M
Days Payables Outstanding	43.44	40.9	52.41	40.29	36.53	18.29	51.75
Short-Term Debt	645K	581K	1.83M	105.23M	77.75M	85.86M	1.09M
Deferred Revenue (Current)	3.37M	4.86M	6.32M	0	0	0	27.47M
Other Current Liabilities	7.91M	10.47M	13.1M	700K	730K	2.52M	16.59M
Current Ratio	6.31x	4.76x	8.66x	0.80x	1.03x	0.83x	0.83x
Quick Ratio	6.31x	4.76x	8.66x	0.70x	0.94x	0.73x	0.73x
Cash Conversion Cycle	-	-	-	33.86	67.08	19.05	-32.1
Total Non-Current Liabilities	33.99M	35.19M	33.65M	117.58M	82.35M	67.05M	30.75M
Long-Term Debt	15.96M	15.45M	14.93M	48.84M	38.71M	28M	14.48M
Capital Lease Obligations	0	0	0	64.64M	39M	36.27M	0
Deferred Tax Liabilities	15.96M	15.45M	14.93M	0	0	0	58.83M
Other Non-Current Liabilities	181K	1.02M	585K	4.1M	4.64M	2.78M	2.31M
Total Liabilities	35.63M	41.86M	49.38M	422.66M	365.99M	279.77M	290.43M
Total Debt	16.61M	16.03M	16.76M	262.17M	193.45M	188.28M	15.57M
Net Debt	-76.8M	-69.83M	-215.26M	65.88M	5.8M	70.95M	-138.5M
Debt / Equity	0.16x	0.16x	0.07x	7.90x	2.15x	6.60x	6.60x
Debt / EBITDA	-	-	-	2.34x	1.14x	2.59x	-0.94x
Net Debt / EBITDA	-	-	-	0.59x	0.03x	0.97x	0.97x
Interest Coverage	-36.38x	-	-	5.71x	8.92x	-0.57x	-5.30x
Total Equity	105.78M▲ 0%	101.66M▼ 3.9%	251.94M▲ 147.8%	33.2M▼ 86.8%	90.09M▲ 171.4%	28.54M▼ 68.3%	280.86M▲ 0%
Equity Growth %	-	-3.9%	147.83%	-86.82%	171.37%	-68.32%	320.9%
Book Value per Share	4.02	2.14	5.30	0.70	1.90	0.60	5.91
Total Shareholders' Equity	105.78M	101.66M	251.94M	33.2M	90.09M	28.54M	280.86M
Common Stock	0	0	1K	10	64.36K	58.5K	1K
Retained Earnings	-164.38M	-187.36M	-202.15M	0	48.68M	28.52M	-234.13M
Treasury Stock	0	0	0	0	0	0	0
Accumulated OCI	-271K	-300K	-108K	136.03K	-4.55K	-32.58K	-343K
Minority Interest	0	0	0	0	0	0	0

MB Cash Flow Statement

MASTERBEEF GROUP (MB) cash flow — operating, investing & free cash flow history

Line item	Dec'15	Dec'16	Dec'17	Dec'22	Dec'23	Dec'24	TTM
Cash from Operations	-18.57M	-3.9M	11.11M	141.02M	83.82M	60.17M	60.17M
Operating CF Margin %	-18.32%	-2.8%	6.08%	30.88%	16.78%	11.94%	-
Operating CF Growth %	-	79.02%	385.16%	1169.29%	-40.56%	-28.22%	1714%
Net Income	-36.09M	-22.98M	-14.79M	37.79M	-29.79M	35.61M	-38.7M
Depreciation & Amortization	6.52M	7.75M	9.15M	68.57M	84.26M	78.6M	21.29M
Stock-Based Compensation	8.38M	8.76M	14.1M	0	0	0	24.02M
Deferred Taxes	-83.66M	0	0	0	0	0	0
Other Non-Cash Items	2.62M	11.39M	-139.25M	3.89M	34.1M	-48.51M	-106.03M
Working Capital Changes	83.66M	-8.82M	141.9M	30.77M	-4.75M	-5.54M	97.5M
Change in Receivables	-3.84M	-2.56M	-1.74M	396.95K	-5.23M	50.65M	-594K
Change in Inventory	0	-84.31M	-78.18M	2.14M	5.15M	4.77M	-955.43M
Change in Payables	722K	92K	1.97M	4.73M	-1.58M	972.85K	-773K
Cash from Investing	-12.21M	-12.73M	-10.51M	-32.29M	-44.45M	-12.18M	-333.18M
Capital Expenditures	-9.92M	-8.59M	-6.85M	-32.51M	-44.51M	-11.99M	-6.99M
CapEx % of Revenue	9.79%	6.18%	3.75%	7.12%	8.91%	2.38%	-
Acquisitions	-3M	-4.14M	-1.7M	0	0	-189.91K	-151.76M
Investments	-	-	-	-	-	-	-
Other Investing	705K	0	-1.96M	216.87K	61.24K	0	-3.33M
Cash from Financing	89.52M	9.17M	145.3M	22.96M	-81.57M	-76.83M	263.92M
Debt Issued (Net)	0	0	0	30.57M	-70.12M	-66.64M	0
Equity Issued (Net)	0	0	0	0	0	0	0
Dividends Paid	-1.75M	0	0	0	0	0	0
Share Repurchases	-93.41M	-85.86M	-232.02M	0	0	0	-160.78M
Other Financing	91.27M	9.17M	145.3M	-7.6M	-11.45M	-10.19M	263.92M
Net Change in Cash	58.73M▲ 0%	-7.54M▼ 112.8%	146.16M▲ 2038.1%	131.68M▼ 9.9%	-50.08M▼ 138.0%	-28.88M▲ 42.3%	-71.24M▲ 0%
Free Cash Flow	-28.49M▲ 0%	-12.49M▲ 56.2%	4.26M▲ 134.1%	108.51M▲ 2447.2%	39.31M▼ 63.8%	48.17M▲ 22.5%	-8.91M▲ 0%
FCF Margin %	-28.11%	-8.98%	2.33%	23.76%	7.87%	9.56%	-3.89%
FCF Growth %	-	56.18%	134.12%	2447.24%	-63.77%	22.54%	-311.55%
FCF per Share	-1.08	-0.26	0.09	2.28	0.83	1.01	1.01
FCF Conversion (FCF/Net Income)	0.51x	0.17x	-0.75x	4.22x	27.94x	1.83x	0.23x
Interest Paid	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0

MB Key Ratios

MASTERBEEF GROUP (MB) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2016	2017	2022	2023	2024	TTM
Return on Equity (ROE)	-22.15%	-8.37%	23.43%	4.87%	55.46%	-13.78%
Return on Invested Capital (ROIC)	-52.62%	-31.42%	47.97%	66%	-4.45%	-4.45%
Gross Margin	69.01%	71.6%	64.73%	67.6%	34.03%	69.85%
Net Margin	-16.53%	-8.1%	7.32%	0.6%	6.53%	-16.91%
Debt / Equity	0.16x	0.07x	7.90x	2.15x	6.60x	6.60x
Interest Coverage	-	-	5.71x	8.92x	-0.57x	-5.30x
FCF Conversion	0.17x	-0.75x	4.22x	27.94x	1.83x	0.23x
Revenue Growth	37.14%	31.37%	150.07%	9.38%	0.89%	33.77%

MB Frequently Asked Questions

MASTERBEEF GROUP (MB) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

MASTERBEEF GROUP (MB) reported $228.9M in revenue for fiscal year 2024. This represents a 126% increase from $101.4M in 2015.

MASTERBEEF GROUP (MB) grew revenue by 0.9% over the past year. Growth has been modest.

MASTERBEEF GROUP (MB) reported a net loss of $38.7M for fiscal year 2024.

Dividend & Returns

MASTERBEEF GROUP (MB) has a return on equity (ROE) of 55.5%. This is excellent, indicating efficient use of shareholder capital.

MASTERBEEF GROUP (MB) had negative free cash flow of $8.9M in fiscal year 2024, likely due to heavy capital investments.

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MASTERBEEF GROUP (MB) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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MASTERBEEF GROUP(MB)Earnings, Financials & Key Ratios

MB Key Insights

✓Strengths

✗Weaknesses

MB Price & Volume

MB Growth Metrics

Revenue CAGR

Profit CAGR

EPS CAGR

Return on Capital

MB Peer Comparison

Compare MB vs Peers

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MB Income Statement

MB Balance Sheet

MB Cash Flow Statement

MB Key Ratios

MB Frequently Asked Questions

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