Latest Ratios: P/E Ratio 14.2x · EV/EBITDA 22.6x · ROE 10.1%. (2022–2025 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 |
|---|---|---|---|---|---|
| Market Cap | $15M | $26M | — | — | — |
| Enterprise Value | $38M | $49M | — | — | — |
| P/E Ratio → | 14.16 | 28.45 | — | — | — |
| P/S Ratio | 0.28 | 0.48 | — | — | — |
| P/B Ratio | 1.05 | 2.10 | — | — | — |
| 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 |
|---|---|---|---|---|---|
| EV / Revenue | — | 0.92 | — | — | — |
| EV / EBITDA | 22.62 | 28.98 | — | — | — |
| EV / EBIT | 22.67 | 29.05 | — | — | — |
| 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 |
|---|---|---|---|---|---|
| Gross Margin | 7.4% | 7.4% | 7.0% | 5.2% | 7.0% |
| Operating Margin | 3.2% | 3.2% | 3.5% | 4.0% | 3.5% |
| Net Profit Margin | 1.7% | 1.7% | 2.8% | 3.1% | 2.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | 10.1% | 10.1% | 37.4% | 35.3% | 31.4% |
| ROA | 1.9% | 1.9% | 4.7% | 4.4% | 4.1% |
| ROIC | 3.9% | 3.9% | 7.0% | 6.9% | 5.9% |
| ROCE | 8.5% | 8.5% | 47.1% | 46.4% | 39.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 2.00 | 2.00 | 4.35 | 4.41 | 4.35 |
| Debt / EBITDA | 14.33 | 14.33 | 10.95 | 7.68 | 10.95 |
| Net Debt / Equity | — | 1.94 | 4.06 | 4.09 | 4.06 |
| Net Debt / EBITDA | 13.89 | 13.89 | 10.23 | 7.11 | 10.23 |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | 3.07 | 3.07 | 6.93 | 13.02 | 6.93 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 3.08 | 3.08 | 1.14 | 1.11 | 1.14 |
| Quick Ratio | 3.08 | 3.08 | 1.13 | 1.11 | 1.13 |
| Cash Ratio | 0.05 | 0.05 | 0.04 | 0.04 | 0.04 |
| Asset Turnover | — | 1.07 | 1.45 | 1.69 | 1.45 |
| Inventory Turnover | — | — | 253.30 | — | 253.30 |
| Days Sales Outstanding | — | 330.12 | 237.72 | 176.78 | 237.67 |
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 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | 7.1% | 3.5% | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $11M | $13M | $13M | $13M |
Liquidity and project concentration
According to recent market data, ONEG trades at a P/S ratio of 0.28, which, when compared to the broader industrial sector, suggests that investors are heavily discounting the firm's future earnings potential due to its recent revenue contraction and the inherent lumpiness of its project-based business model.
The absence of a meaningful P/E ratio and the EV/EBITDA multiple of 22.62 indicate that the market is struggling to price the company based on normalized earnings, likely due to the volatility of its bottom line. This valuation profile suggests that the market views the company as a distressed asset rather than a growth-oriented engineering firm, warranting caution regarding potential further multiple compression.
As reported in financial statements, ONEG's gross margin of 6.2% in 2025Q4 highlights a lack of pricing power, leaving the firm with a net margin of -1.4% that suggests the current cost structure is unsustainable without a significant shift toward higher-value engineering services.
The company's inability to maintain positive net margins during periods of revenue contraction demonstrates that its operating leverage is working against it. Investors should monitor whether management can improve project selection, as the current profitability profile appears insufficient to cover the overhead costs required to maintain its specialized labor pool.
Based on the provided figures, ONEG's ROIC has declined to 0.6% in 2025Q4, a significant drop from previous periods that indicates the company is failing to generate adequate returns on its invested capital within the highly competitive Hong Kong construction market.
The erosion of ROIC suggests that the firm's capital allocation is not effectively driving value, likely due to the high working capital requirements of its project-based contracts. This trend warrants further investigation into whether the company's asset base is becoming impaired by long-dated receivables that fail to convert into cash.
According to recent quarterly data, the DSO of 172 days in 2025Q4 reflects a significant delay in cash collection, which, when compared to historical norms, suggests that the company is struggling to manage its customer leverage and maintain a healthy cash conversion cycle.
The extended collection period indicates that the company is effectively financing its clients' projects, which places immense pressure on its own liquidity. This inefficiency in working capital management appears to be a structural issue that limits the firm's ability to bid on new, more profitable tenders.
While the 2.00 debt-to-equity ratio might appear manageable in isolation, it obscures the reality that ONEG's liquidity is severely constrained, as reported in recent filings, making traditional leverage metrics misleading for a firm with such thin margins and high project-based cash flow volatility.
Investors often misapply debt-to-equity ratios to this business model, ignoring the fact that the company's true financial risk lies in its inability to generate cash from operations rather than its formal debt load. A more appropriate metric would be the cash-to-revenue ratio or the aging of contract assets, which better capture the firm's actual solvency risk.
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Quick answers to the most common questions about buying ONEG stock.
OneConstruction Group Limited's current P/E ratio is 14.2x. The historical average is 28.4x.
OneConstruction Group Limited's current EV/EBITDA is 22.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 29.0x.
OneConstruction Group Limited's return on equity (ROE) is 10.1%. The historical average is 28.6%.
Based on historical data, OneConstruction Group Limited is trading at a P/E of 14.2x. Compare with industry peers and growth rates for a complete picture.
OneConstruction Group Limited has 7.4% gross margin and 3.2% operating margin.
OneConstruction Group Limited's Debt/EBITDA ratio is 14.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.