Latest Ratios: P/E Ratio 143.7x · EV/EBITDA N/A · ROE 3.4%. (2024–2025 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 |
|---|---|---|---|
| Market Cap | $518M | $114M | $114M |
| Enterprise Value | $517M | $114M | $113M |
| P/E Ratio → | 143.71 | 44.79 | 48.67 |
| P/S Ratio | — | — | — |
| P/B Ratio | 9.90 | 3.09 | 0.99 |
| 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 |
|---|---|---|---|
| EV / Revenue | — | — | — |
| EV / EBITDA | — | — | 47.95 |
| 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 |
|---|---|---|---|
| Gross Margin | — | — | — |
| Operating Margin | — | — | — |
| Net Profit Margin | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 |
|---|---|---|---|
| ROE | 3.4% | 3.4% | 2.7% |
| ROA | 3.0% | 3.0% | 2.6% |
| ROIC | -0.9% | -0.9% | — |
| ROCE | -1.1% | -1.1% | -0.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 |
|---|---|---|---|
| Debt / Equity | — | — | — |
| Debt / EBITDA | — | — | — |
| Net Debt / Equity | — | -0.01 | -0.01 |
| Net Debt / EBITDA | — | — | -0.41 |
| Debt / FCF | — | — | — |
| Interest Coverage | — | — | — |
Net cash position: cash ($337383) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 |
|---|---|---|---|
| Current Ratio | 0.53 | 0.53 | 3.33 |
| Quick Ratio | 0.53 | 0.53 | 3.33 |
| Cash Ratio | 0.45 | 0.45 | 3.25 |
| Asset Turnover | — | — | — |
| Inventory Turnover | — | — | — |
| Days Sales Outstanding | — | — | — |
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 |
|---|---|---|---|
| Dividend Yield | — | — | — |
| Payout Ratio | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 |
|---|---|---|---|
| Earnings Yield | 0.7% | 2.2% | 2.1% |
| FCF Yield | — | — | — |
| Buyback Yield | 10.6% | 47.9% | 0.0% |
| Total Shareholder Yield | 10.6% | 47.9% | 0.0% |
| Shares Outstanding | — | $11M | $11M |
Includes 30+ ratios · 2 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying RFAI stock.
RF Acquisition Corp II Ordinary Shares's current P/E ratio is 143.7x. The historical average is 46.7x. This places it at the 100th percentile of its historical range.
RF Acquisition Corp II Ordinary Shares's return on equity (ROE) is 3.4%. The historical average is 3.0%.
Based on historical data, RF Acquisition Corp II Ordinary Shares is trading at a P/E of 143.7x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Key Metrics
Top Statement Risk
Binary merger execution failure
Metrics are mathematically derived from official filings.
Speculative Premium Lacks Fundamental Support
According to recent market data, RFAI trades at a P/E of 45.96 and a P/B of 3.17, metrics that appear disconnected from the company's lack of operational revenue and the binary nature of its business model as a pre-merger shell entity.
The elevated P/E ratio is likely a byproduct of non-operating accounting gains rather than earnings power, rendering traditional valuation multiples largely irrelevant for assessing the company's intrinsic value. Investors should interpret these multiples as a reflection of speculative sentiment regarding the sponsor's ability to secure a high-growth target rather than a reflection of current financial performance.
Liquidity Buffer Nearing Critical Threshold
Based on reported figures, the current ratio has deteriorated significantly from 6.25 in 2024Q2 to 0.21 in 2026Q1, indicating that the company's ability to meet short-term obligations is increasingly compromised as cash reserves are depleted by ongoing administrative and regulatory search costs.
The rapid decline in the current ratio suggests that the company is approaching a point where it may require external capital or sponsor support to maintain its listing status. This trend warrants close monitoring, as a current ratio below 1.0 typically signals an inability to cover immediate liabilities without further dilutive financing or liquidation.
Capital Efficiency Decaying Amidst Inactivity
As reported in financial statements, RFAI's ROIC has trended into negative territory, reaching -0.6% in 2026Q1, which reflects the persistent erosion of invested capital as the company incurs search-related expenses without generating any offsetting operational returns or revenue streams.
The negative ROIC is a structural reality for a SPAC that has yet to consummate a business combination, highlighting the inherent inefficiency of holding capital in a shell vehicle. This decay in returns on capital is expected to persist until a target is acquired, at which point the capital base will be deployed into an operational business.
Misapplication of Traditional Earnings Metrics
The most commonly misapplied ratio for RFAI is the Price-to-Earnings (P/E) multiple, which obscures the company's true financial health by incorporating non-cash warrant liability adjustments that do not reflect the actual cash burn or the probability of a successful merger execution.
Analysts should instead focus on the 'Cash per Share' held in the trust account and the 'Days to Liquidation' to assess the true value and risk profile of the investment. Relying on P/E or other profitability-based ratios in a pre-revenue shell context leads to a fundamental misunderstanding of the company's risk-reward proposition.