Latest Ratios: P/E Ratio -5.4x · EV/EBITDA N/A · ROE -20.4%. (2021–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Market Cap | $2M | $56M | — | — | — |
| Enterprise Value | $-3753312 | $50M | — | — | — |
| P/E Ratio → | -5.42 | — | — | — | — |
| P/S Ratio | 4.82 | 125.17 | — | — | — |
| P/B Ratio | 0.58 | 9.07 | — | — | — |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| EV / Revenue | — | 111.98 | — | — | — |
| EV / EBITDA | — | — | — | — | — |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Gross Margin | 85.0% | 85.0% | 74.9% | 82.1% | 84.1% |
| Operating Margin | -171.8% | -171.8% | -48.8% | 4.0% | 19.6% |
| Net Profit Margin | -147.5% | -147.5% | -38.4% | 12.4% | 27.4% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| ROE | -20.4% | -20.4% | -55.9% | 11.1% | 20.2% |
| ROA | -15.9% | -15.9% | -16.0% | 6.1% | 14.5% |
| ROIC | -223.4% | -223.4% | -48.6% | 2.3% | 9.3% |
| ROCE | -23.3% | -23.3% | -54.2% | 2.9% | 11.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.04 | 0.51 | 0.39 | 0.31 |
| Debt / EBITDA | — | — | — | 2.68 | 1.46 |
| Net Debt / Equity | — | -0.96 | -0.20 | 0.26 | 0.17 |
| Net Debt / EBITDA | — | — | — | 1.79 | 0.79 |
| Debt / FCF | — | — | — | — | 1.99 |
| Interest Coverage | — | — | — | — | — |
Net cash position: cash ($6M) exceeds total debt ($247969)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Current Ratio | 12.40 | 12.40 | 0.44 | 1.06 | 7.48 |
| Quick Ratio | 12.18 | 12.18 | 0.40 | 0.83 | 6.75 |
| Cash Ratio | 11.44 | 11.44 | 0.18 | 0.11 | 1.01 |
| Asset Turnover | — | 0.07 | 0.39 | 0.48 | 0.53 |
| Inventory Turnover | 0.57 | 0.57 | 3.02 | 0.80 | 1.13 |
| Days Sales Outstanding | — | 250.88 | 136.14 | 255.09 | 398.27 |
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 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | 474.5% | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $13M | $15M | $15M | $15M |
Operational scale and liquidity
According to current market data, PTHL trades at a price-to-sales multiple of 4.82, a valuation that appears disconnected from the company's 28.7% year-over-year revenue decline and the absence of a positive P/E ratio, suggesting investors are pricing in speculative recovery potential rather than current fundamental performance.
The lack of a forward P/E or EV/EBITDA multiple reflects the market's difficulty in assigning value to a business currently operating with negative margins. This valuation premium relative to the company's shrinking revenue base warrants caution, as it implies an expectation of rapid scale that the current financial trajectory does not support.
As reported in financial statements, PTHL's ROIC has deteriorated significantly to -105.4% in 2024Q4, a sharp decline from the positive returns observed in 2021, which indicates that the company is currently destroying shareholder value rather than compounding capital through its medical device and software operations.
The collapse in return on invested capital highlights the company's inability to generate sufficient operating income to justify its asset base. This trend suggests that the capital allocated toward R&D and regulatory compliance is failing to produce a competitive return, necessitating a fundamental reassessment of the company's growth strategy.
Based on reported figures, PTHL's cash conversion cycle has ballooned to 1,496 days as of 2024Q4, driven by an extremely high days sales outstanding metric of 473 days, which suggests significant friction in collecting payments from the Chinese public healthcare sector and highlights severe working capital inefficiency.
The extended collection period indicates that the company lacks leverage over its hospital customers, forcing it to carry significant receivables on its balance sheet. This inefficiency directly contributes to the company's cash burn, as the time required to convert sales into actual liquidity is currently unsustainable for a firm of this size.
While the current ratio of 12.40 appears robust based on recent filings, this figure is highly misleading as it follows a period of extreme liquidity stress, indicating that the company's cash position remains precarious and highly susceptible to rapid depletion if revenue trends do not stabilize immediately.
The high current ratio is largely a function of the company's limited scale and recent capital injections rather than operational success. Investors should monitor the cash burn rate closely, as the current liquidity buffer provides only a limited runway for the company to achieve the scale necessary for self-sustaining operations.
The price-to-sales ratio is the most commonly misapplied metric for PTHL, as it obscures the company's inability to convert high gross margins into operating profit, failing to account for the massive fixed-cost burden inherent in the firm's current medical device and software business model.
Analysts should instead focus on the cash burn rate and the path to operating break-even, as the P/S ratio ignores the structural losses that define the company's current financial state. Relying on revenue multiples in this context risks overestimating the value of a business that is currently struggling to achieve the necessary scale to cover its overhead.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying PTHL stock.
Pheton Holdings Ltd Class A Ordinary Shares's current P/E ratio is -5.4x. This places it at the 50th percentile of its historical range.
Pheton Holdings Ltd Class A Ordinary Shares's return on equity (ROE) is -20.4%. The historical average is -11.3%.
Based on historical data, Pheton Holdings Ltd Class A Ordinary Shares is trading at a P/E of -5.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Pheton Holdings Ltd Class A Ordinary Shares has 85.0% gross margin and -171.8% operating margin.