Latest Ratios: P/E Ratio 9999.0x · EV/EBITDA 18.6x · ROE 3.6%. (2022–2024 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 |
|---|---|---|---|---|
| Market Cap | $15M | — | — | — |
| Enterprise Value | $101M | — | — | — |
| P/E Ratio → | 9999.00 | — | — | — |
| P/S Ratio | 0.10 | — | — | — |
| P/B Ratio | 453.96 | — | — | — |
| 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 |
|---|---|---|---|---|
| EV / Revenue | — | — | — | — |
| EV / EBITDA | 18.57 | — | — | — |
| EV / EBIT | 41.29 | — | — | — |
| 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 |
|---|---|---|---|---|
| Gross Margin | 18.9% | 18.9% | 22.6% | 19.3% |
| Operating Margin | 1.6% | 1.6% | 4.6% | 2.4% |
| Net Profit Margin | 0.4% | 0.4% | 4.0% | 1.1% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ROE | 3.6% | 3.6% | 45.3% | 15.0% |
| ROA | 0.7% | 0.7% | 4.1% | 1.0% |
| ROIC | 2.7% | 2.7% | 4.7% | 2.1% |
| ROCE | 4.1% | 4.1% | 6.7% | 3.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Debt / Equity | 2.58 | 2.58 | 6.01 | 10.88 |
| Debt / EBITDA | 15.88 | 15.88 | 5.54 | 7.95 |
| Net Debt / Equity | — | 2.56 | 5.77 | 10.57 |
| Net Debt / EBITDA | 15.78 | 15.78 | 5.32 | 7.72 |
| Debt / FCF | — | — | 50.23 | 10.51 |
| Interest Coverage | 2698.44 | 2698.44 | 7.42 | 3.42 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Current Ratio | 0.99 | 0.99 | 0.92 | 0.75 |
| Quick Ratio | 0.98 | 0.98 | 0.92 | 0.75 |
| Cash Ratio | 0.02 | 0.02 | 0.10 | 0.18 |
| Asset Turnover | — | 0.96 | 1.02 | 0.92 |
| Inventory Turnover | 188.06 | 188.06 | 9275.69 | 8126.53 |
| Days Sales Outstanding | — | 122.41 | 80.39 | 68.02 |
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 |
|---|---|---|---|---|
| Dividend Yield | — | — | — | — |
| Payout Ratio | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Earnings Yield | 0.0% | — | — | — |
| FCF Yield | — | — | — | — |
| Buyback Yield | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — |
| Shares Outstanding | — | $50.8B | $50M | $50M |
Regulatory and Margin Fragility
Based on reported figures, THH trades at a P/S ratio of 0.11, which appears to reflect the market's skepticism regarding the company's ability to convert its massive top-line revenue growth into sustainable, long-term shareholder value given the razor-thin net margins currently observed in recent quarterly filings.
The extremely low P/S multiple suggests that investors are pricing THH as a high-volume, low-margin intermediary rather than a scalable entertainment platform. This valuation warrants caution, as the market may be correctly identifying that the company's rapid revenue expansion is not translating into meaningful earnings power.
As reported in financial statements, THH's gross margin has contracted to 16.2% in 2024Q4, indicating that the company's aggressive pursuit of market share is likely being achieved at the expense of pricing power and operational efficiency within its core Osaka-based entertainment and venue management segments.
The decline in operating margins to 3.1% suggests that the company is struggling to manage the variable costs associated with its event-driven business model. Investors should monitor whether this margin erosion is a structural consequence of the company's principal-heavy revenue recognition or merely a temporary byproduct of rapid expansion.
According to recent quarterly data, THH's cash conversion cycle remains highly elevated, with DSO figures reaching 467,971 days, which suggests significant friction in collecting receivables and managing the liquidity required to sustain its high-volume, event-driven operations in the competitive Kansai entertainment market.
The extreme length of the cash conversion cycle indicates that the company is effectively financing its customers or partners, which places a heavy burden on its liquidity position. This inefficiency is a critical red flag, as it suggests that the company's growth is being funded by delayed cash inflows rather than organic operational excellence.
Based on the latest balance sheet, THH's current ratio of 0.99 as of 2024Q4 indicates that the company possesses virtually no margin of safety to cover its short-term liabilities, leaving it highly vulnerable to any unexpected operational shocks or sudden downturns in regional event attendance.
The company's reliance on short-term assets to meet immediate obligations is concerning given the seasonal and volatile nature of its revenue streams. This liquidity profile suggests that any disruption to the Osaka nightlife or event calendar could lead to immediate solvency pressures that the current cash position may not adequately mitigate.
The most commonly misapplied metric for THH is the headline revenue growth rate, which, at 609.88% YoY, obscures the reality that the company is likely acting as a principal in low-margin transactions rather than generating high-quality, scalable earnings from its core entertainment services.
Analysts should prioritize operating cash flow and net margin over top-line growth to assess the true health of the business. Relying on revenue growth in this context risks misinterpreting a change in accounting methodology or a shift toward lower-quality, pass-through business as a sign of fundamental competitive success.
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Quick answers to the most common questions about buying THH stock.
TryHard Holdings Limited's current P/E ratio is 9999.0x. This places it at the 50th percentile of its historical range.
TryHard Holdings Limited's current EV/EBITDA is 18.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
TryHard Holdings Limited's return on equity (ROE) is 3.6%. The historical average is 21.3%.
Based on historical data, TryHard Holdings Limited is trading at a P/E of 9999.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
TryHard Holdings Limited has 18.9% gross margin and 1.6% operating margin.
TryHard Holdings Limited's Debt/EBITDA ratio is 15.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.