Latest Ratios: P/E Ratio -1.5x · EV/EBITDA N/A · ROE -10.9%. (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 | $13M | $19M | $16M | $28M | $30M | $204M | $125M | $1.4B | — | — |
| Enterprise Value | $1M | $-61746040 | $-339760087 | $-385122002 | $-398976612 | $-337955843 | $-732045186 | $158M | — | — |
| P/E Ratio → | -1.51 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.63 | 0.14 | 0.10 | 0.12 | 0.09 | 0.42 | 0.15 | 1.34 | — | — |
| P/B Ratio | 0.18 | 0.04 | 0.03 | 0.04 | 0.04 | 0.14 | 0.06 | 0.35 | — | — |
| 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 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.44 | -2.12 | -1.66 | -1.18 | -0.70 | -0.88 | 0.15 | — | — |
| EV / EBITDA | — | — | — | — | — | — | -0.67 | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — |
| 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 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 40.0% | 40.0% | 43.1% | 50.9% | 52.7% | 62.0% | 64.8% | 70.8% | 67.4% | 66.0% |
| Operating Margin | -71.6% | -71.6% | -49.4% | -80.8% | -198.7% | -88.9% | 90.7% | -53.4% | -87.1% | -96.5% |
| Net Profit Margin | -44.3% | -44.3% | -37.0% | -76.7% | -189.6% | -68.0% | -266.2% | -45.3% | -57.4% | -84.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -10.9% | -10.9% | -9.2% | -23.6% | -55.9% | -19.1% | -73.8% | -14.0% | -17.5% | -26.9% |
| ROA | -7.0% | -7.0% | -6.1% | -16.3% | -42.6% | -15.3% | -63.1% | -11.9% | -13.5% | -20.0% |
| ROIC | -21.2% | -21.2% | -22.7% | -42.0% | -76.4% | -31.6% | 29.2% | -19.4% | -32.7% | -36.1% |
| ROCE | -17.5% | -17.5% | -12.3% | -24.7% | -57.8% | -24.6% | 25.0% | -16.5% | -26.0% | -29.7% |
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 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.15 | -0.58 | -0.61 | -0.51 | -0.37 | -0.43 | -0.32 | -0.42 | -0.36 |
| Net Debt / EBITDA | — | — | — | — | — | — | -0.78 | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -57185.00 | -57185.00 | -342.93 | — | — | — | — | — | — | — |
Net cash position: cash ($82M) exceeds total debt ($972000)
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 | 1.51 | 1.51 | 1.58 | 1.98 | 2.23 | 2.70 | 3.01 | 3.24 | 2.47 | 2.31 |
| Quick Ratio | 1.51 | 1.51 | 1.58 | 1.98 | 2.23 | 2.70 | 3.01 | 3.23 | 2.47 | 2.30 |
| Cash Ratio | 1.18 | 1.18 | 1.31 | 1.67 | 1.97 | 2.20 | 2.52 | 2.71 | 2.02 | 1.56 |
| Asset Turnover | — | 0.16 | 0.17 | 0.23 | 0.29 | 0.26 | 0.34 | 0.23 | 0.27 | 0.24 |
| Inventory Turnover | 7705.64 | 7705.64 | 930.52 | 790.86 | 2020.27 | 762.97 | 100.40 | 62.23 | 2888.41 | 92.18 |
| Days Sales Outstanding | — | 1.29 | 38.95 | 13.35 | 28.97 | 31.20 | 23.25 | 41.08 | 33.66 | 243.55 |
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 | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.9% | 4.3% | 0.0% | 4.8% | 32.8% | 58.7% | 5.3% | 0.0% | — | — |
| Total Shareholder Yield | 0.9% | 4.3% | 0.0% | 4.8% | 32.8% | 58.7% | 5.3% | 0.0% | — | — |
| Shares Outstanding | — | $9M | $9M | $9M | $8M | $9M | $9M | $9M | $8M | $2M |
Terminal platform irrelevance
According to current market data, MOGU trades at a price-to-book ratio of 0.18, which suggests that investors are pricing the company as a distressed entity rather than a growth-oriented social commerce platform, reflecting deep skepticism regarding its ability to reverse persistent revenue contraction and negative earnings.
The P/S multiple of 0.68 indicates that the market assigns minimal value to the company's top-line, likely due to the lack of a clear path to profitability. This valuation level appears to imply that the market views the company's remaining assets as having little utility beyond their liquidation value, given the inability to generate positive returns on invested capital.
Based on reported figures, MOGU's ROIC has remained consistently negative, recently reaching -4.9%, which indicates that the company is failing to generate value from its capital base and is instead eroding shareholder equity through sustained operational losses in a highly competitive fashion retail environment.
The trend of negative ROIC over the last ten quarters highlights a fundamental inability to achieve the scale necessary to cover the costs of its platform infrastructure. Investors should monitor whether management can stabilize these returns, though the current trajectory suggests that capital is being consumed rather than compounded.
As reported in financial statements, MOGU's asset turnover ratio remains extremely low at 0.05, which reveals a significant underutilization of the company's asset base and suggests that the platform is struggling to convert its infrastructure investments into meaningful transaction volume within the Chinese fashion market.
The volatility in the cash conversion cycle, which recently shifted from positive to negative, may indicate inconsistent management of merchant payables and receivables. This lack of operational efficiency appears to be a structural drag on the business, preventing the company from optimizing its liquidity during periods of declining revenue.
According to recent SEC filings, MOGU's current ratio of 1.51 provides a superficial appearance of stability, yet the rapid erosion of cash reserves over the past two years suggests that the company's liquidity position is increasingly vulnerable to continued operational cash burn and lack of external financing.
While the current ratio remains above unity, the absence of positive cash flow means that the company is essentially living off its remaining cash pile. This liquidity profile warrants close monitoring, as the company may face significant pressure if it cannot achieve a self-sustaining business model before its cash reserves are exhausted.
Based on an analysis of the business model, the most commonly misapplied metric for MOGU is Gross Merchandise Volume (GMV), which obscures the company's inability to capture a sustainable take-rate and fails to account for the high return rates endemic to the live-streaming fashion sector.
Investors should prioritize 'Net Revenue' and 'Take Rate' over GMV, as the latter can be artificially inflated by promotional subsidies that do not translate into actual profitability. Relying on GMV as a proxy for growth is misleading when the underlying unit economics remain deeply negative and the platform lacks pricing power.
Includes 30+ ratios · 9 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 MOGU stock.
MOGU Inc.'s current P/E ratio is -1.5x. This places it at the 50th percentile of its historical range.
MOGU Inc.'s return on equity (ROE) is -10.9%. The historical average is -27.9%.
Based on historical data, MOGU Inc. is trading at a P/E of -1.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
MOGU Inc. has 40.0% gross margin and -71.6% operating margin.