Latest Ratios: P/E Ratio -11.3x · EV/EBITDA N/A · ROE -47.6%. (2007–2025 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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $316M | $386M | $168M | $304M | $221M | $499M | $142M | $75M | $30M | $12M | $28M |
| Enterprise Value | $312M | $382M | $163M | $301M | $219M | $495M | $151M | $81M | $20M | $10M | $28M |
| P/E Ratio → | -11.26 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 18.51 | 22.59 | 16.65 | 85.12 | 57.16 | 135.40 | 33.14 | 13.62 | 18.87 | 235.73 | 5.49 |
| P/B Ratio | 6.38 | 7.88 | 2.46 | 5.01 | 3.56 | 7.98 | 2.01 | 0.62 | 0.18 | 0.14 | 0.32 |
| P/FCF | 458.54 | 559.79 | 98.40 | — | — | 41.94 | 6.55 | 31.12 | — | — | — |
| P/OCF | 392.06 | 478.63 | 85.77 | — | — | 40.57 | 6.51 | 24.15 | — | — | — |
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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 22.36 | 16.14 | 84.24 | 56.43 | 134.50 | 35.18 | 14.67 | 12.40 | 201.71 | 5.55 |
| EV / EBITDA | — | — | — | 957.54 | 139.00 | — | — | 976.28 | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 553.98 | 95.38 | — | — | 41.67 | 6.95 | 33.51 | — | — | — |
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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.1% | 9.1% | 19.3% | 21.7% | 21.2% | 9.8% | -24.8% | 25.4% | -66.8% | -2533.3% | 4.0% |
| Operating Margin | -97.6% | -97.6% | -56.9% | -50.5% | -10.2% | -104.9% | -1568.6% | -36.2% | -906.2% | -23266.7% | -78.3% |
| Net Profit Margin | -163.2% | -163.2% | -133.2% | -48.2% | -8.9% | -228.4% | -1582.2% | -670.6% | -783.0% | -21988.2% | -99.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -47.6% | -47.6% | -20.8% | -2.8% | -0.6% | -12.6% | -71.0% | -25.7% | -9.8% | -13.2% | -6.1% |
| ROA | -37.6% | -37.6% | -17.9% | -2.5% | -0.5% | -10.5% | -58.9% | -22.4% | -8.6% | -11.3% | -5.4% |
| ROIC | -23.1% | -23.1% | -7.1% | -2.3% | -0.5% | -4.2% | -49.1% | -1.1% | -8.9% | -10.5% | -3.6% |
| ROCE | -26.5% | -26.5% | -8.2% | -2.7% | -0.6% | -5.1% | -62.1% | -1.3% | -10.4% | -12.6% | -4.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.17 | 0.09 | 0.02 | 0.03 | 0.00 |
| Debt / EBITDA | — | — | — | 0.01 | 0.08 | — | — | 131.99 | — | — | — |
| Net Debt / Equity | — | -0.08 | -0.08 | -0.05 | -0.05 | -0.05 | 0.12 | 0.05 | -0.06 | -0.02 | 0.00 |
| Net Debt / EBITDA | — | — | — | -9.90 | -1.80 | — | — | 69.81 | — | — | — |
| Debt / FCF | — | -5.82 | -3.02 | — | — | -0.28 | 0.40 | 2.40 | — | — | — |
| Interest Coverage | — | — | — | -28.98 | -5.81 | -81.90 | -65.89 | — | -31.16 | -703.08 | -356.47 |
Net cash position: cash ($4M) exceeds total debt ($4000)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.92 | 0.92 | 3.30 | 2.26 | 5.28 | 2.83 | 3.44 | 7.27 | 7.63 | 1.69 | 0.91 |
| Quick Ratio | 0.92 | 0.92 | 3.30 | 2.26 | 5.28 | 2.83 | 3.44 | 7.15 | 7.63 | 1.69 | 0.91 |
| Cash Ratio | 0.24 | 0.24 | 0.87 | 0.66 | 1.35 | 1.59 | 0.41 | 0.79 | 1.43 | 1.26 | 0.00 |
| Asset Turnover | — | 0.25 | 0.13 | 0.05 | 0.06 | 0.05 | 0.05 | 0.04 | 0.01 | 0.00 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | 5.29 | — | — | — |
| Days Sales Outstanding | — | 155.73 | 512.19 | 746.67 | 796.97 | 253.01 | 1912.74 | 2328.34 | 7182.41 | 4838.04 | 8.57 |
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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 0.2% | 0.2% | 1.0% | — | — | 2.4% | 15.3% | 3.2% | — | — | — |
| Buyback Yield | 1.3% | 1.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.3% | 1.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $121M | $102M | $102M | $102M | $102M | $98M | $79M | $35M | $11M | $7M |
Liquidity and credit impairment
According to recent market data, TROO trades at a price-to-sales ratio of 17.72, which appears significantly detached from its negative net margins and suggests that investors are pricing in speculative growth potential rather than the underlying reality of its capital-intensive and loss-making financial services business model.
The elevated P/S multiple relative to the company's lack of profitability indicates that the market may be misclassifying TROO as a high-growth SaaS entity. This valuation premium warrants caution, as the absence of positive earnings or cash flow makes traditional P/E or EV/EBITDA metrics effectively meaningless for assessing intrinsic value.
As reported in financial statements, TROO's gross margin of 16.7% in 2024Q4 highlights a persistent inability to achieve the pricing power typical of software firms, suggesting that the cost of revenue is heavily burdened by the direct expenses associated with its lending and property investment operations.
The company's operating margin of -37.0% confirms that the current scale of operations is insufficient to cover fixed costs, leading to deep net losses. Investors should monitor whether the company can shift its revenue mix toward higher-margin API services, as the current reliance on lending interest income appears to be structurally unprofitable.
Based on historical data, TROO's ROIC has remained consistently negative, reaching -3.0% in 2024Q4, which implies that the company is currently destroying shareholder value rather than compounding it through its strategic pivot into fintech and mortgage lending activities within the Hong Kong market.
The persistent negative return on capital suggests that management's capital allocation strategy has failed to generate returns exceeding the cost of funds. This trend indicates that the business model requires a fundamental restructuring to achieve efficiency, as current operations appear to be consuming capital without creating a sustainable competitive advantage.
As evidenced by the reported figures, TROO's asset turnover ratio remains extremely low at 0.09, suggesting that the company's asset base is not being utilized effectively to generate revenue compared to industry peers who maintain much higher velocity in their lending and service portfolios.
The extended collection periods, with DSO reaching 90 days in 2024Q4, point to potential challenges in managing receivables within the lending segment. This inefficiency in working capital management further strains the company's liquidity position and highlights the difficulty of scaling a hybrid fintech-lending model without significant operational friction.
Based on an analysis of the company's business model, the price-to-sales ratio is the most commonly misapplied metric, as it obscures the fact that a significant portion of revenue is derived from low-margin lending rather than scalable software, leading to an overestimation of the company's true growth quality.
Analysts should instead focus on net interest margins and loan loss provision adequacy to better understand the company's risk profile. Relying on SaaS-style valuation multiples ignores the inherent credit risks and capital intensity of the lending business, which are the primary drivers of the company's current financial performance.
Includes 30+ ratios · 18 years · Updated daily
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Quick answers to the most common questions about buying TROO stock.
TROOPS, Inc.'s current P/E ratio is -11.3x. The historical average is 31.1x.
TROOPS, Inc.'s return on equity (ROE) is -47.6%. The historical average is -7.4%.
Based on historical data, TROOPS, Inc. is trading at a P/E of -11.3x. Compare with industry peers and growth rates for a complete picture.
TROOPS, Inc. has 9.1% gross margin and -97.6% operating margin.