Latest Ratios: P/E Ratio -33.1x · EV/EBITDA N/A · ROE -80.5%. (2017–2025 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $154M | $109M | — | — | — | — | — | — | — | — |
| Enterprise Value | $145M | $100M | — | — | — | — | — | — | — | — |
| P/E Ratio → | -33.15 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 128.63 | 90.83 | — | — | — | — | — | — | — | — |
| P/B Ratio | 15.97 | 11.28 | — | — | — | — | — | — | — | — |
| 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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 83.37 | — | — | — | — | — | — | — | — |
| 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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 60.4% | 100.0% | 64.7% | 100.0% | 100.0% | 100.0% |
| Operating Margin | -70.2% | -70.2% | -316.1% | -31.1% | -132.8% | -258.5% | -991.9% | 21.8% | 51.2% | 25.4% |
| Net Profit Margin | -383.2% | -383.2% | -514.8% | -117.6% | -174.6% | -914.0% | -2306.9% | 13.9% | 36.6% | 17.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -80.5% | -80.5% | -193.8% | -97.8% | -41.5% | -38.7% | -65.0% | 6.5% | 270.3% | — |
| ROA | -68.4% | -68.4% | -94.1% | -48.4% | -29.8% | -30.0% | -51.2% | 5.3% | 77.6% | 50.4% |
| ROIC | -11.0% | -11.0% | -66.4% | -13.6% | -20.5% | -7.9% | -20.6% | 7.6% | 284.0% | — |
| ROCE | -14.4% | -14.4% | -92.2% | -20.1% | -28.7% | -10.1% | -26.0% | 10.2% | 378.7% | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.02 | 0.72 | 0.33 | 0.08 | 0.02 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.93 | -0.69 | 0.32 | -0.08 | -0.50 | 0.01 | -0.58 | -0.04 | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | -8.95 | -0.03 | -0.15 |
| Debt / FCF | — | — | — | — | — | — | — | — | -0.04 | -1.04 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($9M) exceeds total debt ($0)
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 13.45 | 13.45 | 2.93 | 1.65 | 2.14 | 7.42 | 0.67 | 9.28 | 2.13 | 0.67 |
| Quick Ratio | 13.45 | 13.45 | 2.93 | 1.65 | 2.14 | 7.42 | 0.67 | 9.28 | 2.13 | 0.67 |
| Cash Ratio | 11.54 | 11.54 | 1.26 | 0.39 | 0.63 | 4.22 | 0.05 | 5.66 | 0.04 | 0.08 |
| Asset Turnover | — | 0.11 | 0.21 | 0.65 | 0.20 | 0.08 | 0.01 | 0.25 | 1.42 | 2.86 |
| 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 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $17M | $10M | $10M | $10M | $9M | $8M | $7M | $8M | $8M |
Regulatory and geopolitical volatility
Based on reported figures, ZBAI trades at a P/S ratio of 128.63, which appears to be an extreme premium relative to its peers and historical performance, suggesting that investors are pricing the firm as a speculative option rather than a traditional financial services advisory business.
The lack of a meaningful P/E or EV/EBITDA ratio underscores the absence of sustainable earnings power, forcing the market to rely on price-to-sales multiples that are likely distorted by the company's volatile, project-based revenue stream. Investors should monitor whether this valuation reflects an expectation of a sudden, large-scale IPO mandate completion or if it is merely a byproduct of low trading liquidity.
According to the quarterly data, ZBAI has consistently struggled to generate positive returns, with ROIC fluctuating between -25.3% and 1.8% over the last ten quarters, indicating that the company is currently destroying rather than compounding value for its shareholders through its core advisory operations.
The inability to maintain a positive ROIC suggests that the capital deployed into the business is not being utilized efficiently to generate returns above the cost of capital. This trend warrants further investigation into whether the firm's high fixed-cost structure is structurally incompatible with the current scale of its advisory mandate pipeline.
As reported in financial statements, ZBAI's asset turnover remains exceptionally low, often hovering near 0.03, which highlights the firm's inability to effectively leverage its balance sheet to generate revenue from its consulting mandates compared to more established boutique financial services peers.
The extreme volatility in DSO, which has ranged from 61 to over 2,000 days, suggests significant friction in the collection of advisory fees and potential delays in project milestone recognition. This inefficiency implies that the company's cash conversion cycle is highly unpredictable, making it difficult to forecast liquidity needs with any degree of certainty.
Based on recent SEC filings, ZBAI maintains a current ratio of 13.45 as of 2025Q4, which provides a substantial short-term safety net, yet this liquidity appears to be a function of capital preservation rather than successful operational cash generation from the firm's core advisory services.
While the high current ratio suggests the company is not at immediate risk of insolvency, the reliance on cash reserves to fund ongoing operating losses is not a sustainable long-term strategy. Investors should monitor whether this liquidity is being preserved for strategic pivots or if it is simply being slowly depleted by the firm's high fixed-cost overhead.
The most commonly misapplied metric for ZBAI is the P/E ratio, which obscures the company's true financial health by focusing on earnings that are currently non-existent, thereby failing to capture the firm's nature as a high-risk, project-based advisory entity with significant regulatory exposure.
Analysts should instead focus on the 'Active Mandate Pipeline' and 'Regulatory Approval Velocity' as primary indicators of future viability, as traditional valuation ratios like P/E or P/B are largely irrelevant for a firm that is currently in a state of perpetual operational loss. Using standard valuation multiples for ZBAI risks misinterpreting a speculative, high-beta advisory play as a stable, earnings-generating financial institution.
Includes 30+ ratios · 9 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying ZBAI stock.
ATIF Holdings Ltd.'s current P/E ratio is -33.1x. This places it at the 50th percentile of its historical range.
ATIF Holdings Ltd.'s return on equity (ROE) is -80.5%. The historical average is -30.1%.
Based on historical data, ATIF Holdings Ltd. is trading at a P/E of -33.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
ATIF Holdings Ltd. has 100.0% gross margin and -70.2% operating margin.