Latest Ratios: P/E Ratio -1.0x · EV/EBITDA N/A · ROE -69.0%. (2021–2025 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 |
|---|---|---|---|---|---|---|
| Market Cap | $11M | $74M | $2.9B | — | — | — |
| Enterprise Value | $5M | $30M | $2.8B | — | — | — |
| P/E Ratio → | -1.04 | — | 139.73 | — | — | — |
| P/S Ratio | 0.18 | 0.18 | 7.19 | — | — | — |
| P/B Ratio | 0.88 | 0.67 | 17.84 | — | — | — |
| P/FCF | — | — | — | — | — | — |
| P/OCF | — | — | 113.41 | — | — | — |
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 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.07 | 6.98 | — | — | — |
| EV / EBITDA | — | — | 50.02 | — | — | — |
| EV / EBIT | — | — | 92.77 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|
| Gross Margin | 11.0% | 11.0% | 28.8% | 42.1% | 41.1% | 31.6% |
| Operating Margin | -24.4% | -24.4% | 6.7% | 21.1% | 18.5% | -28.3% |
| Net Profit Margin | -22.8% | -22.8% | 5.0% | 18.6% | 22.3% | -32.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | -69.0% | -69.0% | 94.8% | — | — | — |
| ROA | -43.3% | -43.3% | 9.7% | 47.4% | 48.1% | -81.8% |
| ROIC | -106.2% | -106.2% | — | — | — | — |
| ROCE | -71.5% | -71.5% | 18.4% | 94.1% | 273.5% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.18 | 0.18 | 0.03 | — | — | — |
| Debt / EBITDA | — | — | 0.10 | 0.08 | 0.19 | — |
| Net Debt / Equity | — | -0.40 | -0.53 | — | — | — |
| Net Debt / EBITDA | — | — | -1.54 | -0.72 | -0.81 | — |
| Debt / FCF | — | — | — | -1.54 | -1.89 | — |
| Interest Coverage | -3145.34 | -3145.34 | — | — | 273.67 | -345.84 |
Net cash position: cash ($64M) exceeds total debt ($20M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 1.53 | 1.53 | 2.17 | 2.95 | 1.20 | 0.67 |
| Quick Ratio | 1.50 | 1.50 | 2.17 | 2.93 | 1.20 | 0.67 |
| Cash Ratio | 1.01 | 1.01 | 1.36 | 2.36 | 1.04 | 0.56 |
| Asset Turnover | — | 2.15 | 1.67 | 2.16 | 1.95 | 2.53 |
| Inventory Turnover | 160.19 | 160.19 | 2705.19 | 260.72 | 732.56 | 220.56 |
| Days Sales Outstanding | — | 24.32 | 49.08 | 13.87 | 11.20 | 8.92 |
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 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 0.7% | — | — | — |
| FCF Yield | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $4M | $29M | $26M | $26M | $26M |
Structural Margin and Liquidity
According to recent market data, NAMI trades at a price-to-sales multiple of 0.19, a valuation level that suggests investors are pricing the company as a distressed asset rather than a growth-oriented digital content provider within the competitive Chinese EdTech landscape.
The negative P/E ratio and lack of a forward earnings multiple indicate that the market has effectively abandoned expectations for near-term profitability. This valuation compression appears to be a rational response to the company's inability to scale revenue while maintaining a sustainable gross margin.
Based on reported financial statements, NAMI's ROIC has plummeted to -69.3% as of 2025Q4, signaling that the company is not only failing to generate returns on its invested capital but is actively destroying shareholder value through its current operational configuration.
The sharp decline from historical levels suggests that the company's core business model is no longer capable of producing a return that exceeds its cost of capital. This trend warrants further investigation into whether the company's assets are becoming stranded as the market shifts toward free, integrated educational platforms.
As reported in quarterly filings, NAMI's cash conversion cycle reached -4 days in 2025Q4, a metric that appears favorable on the surface but likely reflects a reliance on aggressive payables management rather than genuine operational efficiency in its B2B2C distribution channels.
While a negative CCC often indicates strong bargaining power, in NAMI's case, it may simply reflect the company's inability to pay suppliers in a timely manner given its cash-burn status. Investors should monitor whether this efficiency is sustainable or if it will lead to a breakdown in critical distribution partnerships.
Based on the latest balance sheet data, NAMI's current ratio of 1.53 provides a superficial sense of security, yet the rapid decline in cash reserves to $64 million suggests that the company's liquidity runway is narrowing significantly under current operating losses.
The company's reliance on current assets to cover short-term obligations appears increasingly precarious as operating cash flow remains negative. Without a material improvement in margins, the current liquidity position may necessitate dilutive financing or a radical restructuring of the cost base.
Market participants frequently misapply SaaS-style valuation multiples to NAMI, failing to recognize that the company's 7.1% gross margin is fundamentally incompatible with the high-margin, scalable software business model that typically justifies premium pricing in the internet content sector.
By treating NAMI as a high-growth software platform, analysts overlook the reality that the company functions as a low-margin content intermediary. A more appropriate analytical framework would involve valuing the company based on its cash-generating capacity as a distributor, which currently suggests a much lower intrinsic value.
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Quick answers to the most common questions about buying NAMI stock.
Jinxin Technology Holding Company American Depositary Shares's current P/E ratio is -1.0x. The historical average is 139.7x.
Jinxin Technology Holding Company American Depositary Shares's return on equity (ROE) is -69.0%. The historical average is 12.9%.
Based on historical data, Jinxin Technology Holding Company American Depositary Shares is trading at a P/E of -1.0x. Compare with industry peers and growth rates for a complete picture.
Jinxin Technology Holding Company American Depositary Shares has 11.0% gross margin and -24.4% operating margin.