Latest Ratios: P/E Ratio -12.8x · EV/EBITDA 9.4x · ROE -13.1%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $26M | $29M | $44M | — | — | — | — |
| Enterprise Value | $31M | $34M | $57M | — | — | — | — |
| P/E Ratio → | -12.75 | — | — | — | — | — | — |
| P/S Ratio | 0.35 | 0.39 | 0.60 | — | — | — | — |
| P/B Ratio | 1.69 | 1.96 | 2.91 | — | — | — | — |
| P/FCF | 4.09 | 4.57 | — | — | — | — | — |
| P/OCF | 3.48 | 3.89 | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.46 | 0.78 | — | — | — | — |
| EV / EBITDA | 9.42 | 10.33 | 52.21 | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — |
| EV / FCF | — | 5.42 | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 23.6% | 23.6% | 17.4% | 15.4% | 18.1% | 25.8% | 11.7% |
| Operating Margin | -0.9% | -0.9% | -3.8% | -3.0% | -2.2% | 12.0% | 1.5% |
| Net Profit Margin | -2.6% | -2.6% | -4.5% | -3.7% | -2.3% | 11.2% | 0.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -13.1% | -13.1% | -27.1% | -25.2% | -10.1% | 41.8% | 2.5% |
| ROA | -4.5% | -4.5% | -7.3% | -6.7% | -4.0% | 20.7% | 1.4% |
| ROIC | -2.1% | -2.1% | -8.3% | -7.8% | -5.7% | 30.9% | 3.8% |
| ROCE | -3.2% | -3.2% | -13.5% | -10.8% | -6.2% | 35.8% | 5.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.05 | 1.05 | 1.38 | 2.53 | 1.07 | 0.55 | 0.39 |
| Debt / EBITDA | 4.69 | 4.69 | 19.08 | 14.42 | 6.51 | 0.87 | 1.85 |
| Net Debt / Equity | — | 0.36 | 0.87 | 1.50 | 0.61 | 0.04 | 0.15 |
| Net Debt / EBITDA | 1.62 | 1.62 | 12.06 | 8.57 | 3.72 | 0.06 | 0.71 |
| Debt / FCF | — | 0.85 | — | — | 2.76 | 0.21 | 1.46 |
| Interest Coverage | -1.24 | -1.24 | -2.25 | -2.54 | -1.98 | 28.56 | 3.11 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.39 | 1.39 | 1.38 | 1.12 | 1.51 | 2.14 | 1.96 |
| Quick Ratio | 1.39 | 1.39 | 1.38 | 1.11 | 1.50 | 2.10 | 1.96 |
| Cash Ratio | 0.49 | 0.49 | 0.34 | 0.37 | 0.41 | 0.66 | 0.32 |
| Asset Turnover | — | 1.80 | 1.59 | 1.61 | 1.64 | 1.66 | 2.09 |
| Inventory Turnover | 1291.43 | 1291.43 | 1089.36 | 412.98 | 309.33 | 83.41 | — |
| Days Sales Outstanding | — | 84.04 | 99.75 | 90.15 | 73.59 | 101.12 | 109.77 |
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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | 8.2% | 5.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — |
| FCF Yield | 24.4% | 21.9% | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $37M | $34M | $36M | $36M | $36M | $36M |
Rising leverage and insolvency
According to current market data, PMEC trades at a P/S ratio of 0.35 and a negative P/E, suggesting that investors are heavily discounting the firm's future earnings potential due to persistent net losses and the lack of a clear path toward sustainable profitability in the near term.
The negative P/E ratio underscores the market's focus on the company's inability to generate bottom-line growth, contrasting sharply with the higher multiples commanded by more established industry peers like Cintas. This valuation gap appears to be a direct consequence of the firm's struggle to scale its facilities management services profitably within the highly competitive Singaporean market.
Based on reported financial figures, PMEC's ROIC has remained consistently negative, bottoming out at -22.0% in 2021Q4 and showing little evidence of structural improvement, which indicates that the company is currently destroying shareholder value rather than compounding it through its core operational activities.
The persistent negative ROIC suggests that the capital deployed into the business is failing to generate returns above the cost of capital, a trend that warrants significant concern for long-term investors. This decay in returns appears to be driven by the company's inability to maintain positive operating margins despite its vertical integration efforts.
As reported in quarterly filings, PMEC's cash conversion cycle has fluctuated wildly, reaching as high as 120 days in 2021Q4, which highlights significant inefficiencies in receivables management and suggests that the company's liquidity is frequently tied up in slow-moving operational cycles rather than cash.
The volatility in the cash conversion cycle indicates that the firm lacks the leverage to dictate favorable payment terms with its public sector clients, leading to lumpy cash inflows. This operational friction likely exacerbates the company's reliance on external debt to fund its day-to-day working capital requirements.
According to recent balance sheet data, PMEC's debt-to-equity ratio has surged to 2.53 as of 2023Q4, signaling a rapid deterioration in financial health as the company increasingly relies on debt financing to offset persistent operational losses and sustain its current corporate structure.
The sharp increase in leverage, coupled with negative interest coverage ratios, suggests that the company may face significant refinancing risks if its operational performance does not improve. Investors should monitor the firm's ability to service this debt, as the current trajectory appears unsustainable without a material shift in profitability.
Market participants often misapply revenue growth as a primary indicator of success for PMEC, failing to recognize that in this low-margin, labor-intensive model, top-line expansion without corresponding margin improvement serves only to accelerate the consumption of cash and the accumulation of debt-related risks.
Focusing on revenue growth obscures the underlying reality that the company's cost structure is highly sensitive to regulatory wage hikes, making volume growth potentially value-destructive. A more appropriate metric for this business model would be the 'Operating Margin per Employee' or 'Contract-Level Contribution Margin,' which would better reveal the true earning power of the firm's service contracts.
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying PMEC stock.
Primech Holdings Ltd. Ordinary Shares's current P/E ratio is -12.8x. This places it at the 50th percentile of its historical range.
Primech Holdings Ltd. Ordinary Shares's current EV/EBITDA is 9.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 31.3x.
Primech Holdings Ltd. Ordinary Shares's return on equity (ROE) is -13.1%. The historical average is -5.2%.
Based on historical data, Primech Holdings Ltd. Ordinary Shares is trading at a P/E of -12.8x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Primech Holdings Ltd. Ordinary Shares has 23.6% gross margin and -0.9% operating margin.
Primech Holdings Ltd. Ordinary Shares's Debt/EBITDA ratio is 4.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.