Latest Ratios: P/E Ratio -16.6x · EV/EBITDA N/A · ROE -35.4%. (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 | $31M | $24M | $17M | — | — |
| Enterprise Value | $29M | $21M | $15M | — | — |
| P/E Ratio → | -16.63 | — | — | — | — |
| P/S Ratio | 5.21 | 3.05 | 1.99 | — | — |
| P/B Ratio | 5.80 | 3.45 | 2.74 | — | — |
| 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 | — | 2.70 | 1.74 | — | — |
| 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 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Gross Margin | 13.7% | 13.7% | 10.3% | 34.8% | 28.4% |
| Operating Margin | -31.7% | -31.7% | -12.8% | 21.9% | 10.0% |
| Net Profit Margin | -30.1% | -30.1% | -11.7% | 17.9% | 8.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | -35.4% | -35.4% | -25.0% | 355.3% | — |
| ROA | -21.3% | -21.3% | -11.3% | 50.1% | 22.2% |
| ROIC | -44.3% | -44.3% | -24.1% | 148.8% | 277.5% |
| ROCE | -32.7% | -32.7% | -20.6% | 170.5% | 2573.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.15 | 0.15 | 0.19 | 0.85 | — |
| Debt / EBITDA | — | — | — | 0.51 | 1.18 |
| Net Debt / Equity | — | -0.40 | -0.34 | 0.47 | — |
| Net Debt / EBITDA | — | — | — | 0.28 | 0.79 |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | -24.88 | -24.88 | -10.02 | 37.74 | 17.97 |
Net cash position: cash ($4M) exceeds total debt ($1M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 3.37 | 3.37 | 2.68 | 1.80 | 0.80 |
| Quick Ratio | 3.37 | 3.37 | 2.68 | 1.80 | 0.80 |
| Cash Ratio | 1.30 | 1.30 | 0.84 | 0.21 | 0.13 |
| Asset Turnover | — | 0.74 | 0.76 | 1.97 | 2.59 |
| Inventory Turnover | — | — | — | — | — |
| Days Sales Outstanding | — | 273.93 | 303.79 | 144.16 | 93.52 |
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 | — | — | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $11M | $3M | $3M | $3M |
Persistent operating cash burn
Based on recent financial filings, SPHL trades at a P/S ratio of 5.21, which appears disconnected from its negative earnings profile and the 11.38% year-over-year revenue decline, suggesting that the market may be mispricing the firm's recovery potential relative to its current operational distress.
The negative P/E of -16.63 reflects the company's inability to achieve profitability at its current scale, rendering traditional earnings-based valuation metrics largely irrelevant. Investors should monitor whether the high P/B ratio of 5.80 is justified by intangible assets or if it represents an overvaluation of a business currently struggling to convert its order book into sustainable cash flow.
As reported in quarterly statements, SPHL's ROIC has plummeted from a peak of 112.2% in 2023Q4 to -37.7% in 2025Q4, indicating a severe deterioration in the company's ability to generate returns on invested capital as project margins compress and fixed costs remain stubbornly high.
This sharp decline in capital efficiency suggests that the company's bespoke construction model is failing to scale effectively, with returns now deeply negative. The trend warrants further investigation into whether management can optimize its project selection process or if the current capital base is fundamentally misaligned with the realities of the Singaporean residential construction market.
According to recent SEC filings, SPHL's DSO has fluctuated significantly, reaching 130 days in 2025Q4, which highlights the company's struggle to manage its cash conversion cycle effectively while navigating the fragmented and highly competitive landscape of Singaporean landed property reconstruction projects.
The erratic nature of these efficiency metrics suggests that the company lacks the leverage to dictate payment terms with its clients, leading to prolonged periods of capital lock-up. This inefficiency appears to be a primary driver of the firm's persistent cash burn, as the timing of project milestones frequently fails to align with the company's ongoing operational expenditure requirements.
Based on the provided financial data, the Price-to-Book ratio is the most commonly misapplied metric for SPHL, as it obscures the reality that the company's book value is heavily comprised of contract assets that may not be realizable in a distressed liquidation scenario.
Investors should instead focus on the company's cash-to-burn ratio and the quality of its contract assets, as the book value provides a false sense of security given the firm's negative retained earnings. Relying on P/B ignores the underlying operational risks and the potential for further asset impairment if project-based revenue recognition estimates prove overly optimistic.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying SPHL stock.
Springview Holdings Ltd Class A Ordinary Shares's current P/E ratio is -16.6x. This places it at the 50th percentile of its historical range.
Springview Holdings Ltd Class A Ordinary Shares's return on equity (ROE) is -35.4%. The historical average is 98.3%.
Based on historical data, Springview Holdings Ltd Class A Ordinary Shares is trading at a P/E of -16.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Springview Holdings Ltd Class A Ordinary Shares has 13.7% gross margin and -31.7% operating margin.