
Highway Holdings Limited Financial Ratios 2026-2009 | HIHO
Brief overview of Highway Holdings Limited's multiples and efficiency
Ratios are assessed across five available annual reports in the 2017–2025 interval.
Key multiples at the end of the period are P/E 67.69x (median 25.94x), EV/EBITDA 10.21x (median 4.1x), P/S 0.97x (median 0.97x). On average, this basket is 100.8% above its own five-year medians. The market is pricing in elevated future expectations.
The inverse P/E implies an earnings yield of 1.5%. This is not a dividend yield, but current earnings relative to market price.
Capital efficiency is characterized by ROE 1.7%, ROA 1.1%, ROCE -8.5%. Losses and negative capital returns make ordinary P/E-like references unstable or inapplicable.
A shorter cycle, from 132.4 days to 99 days, indicates faster release of cash from operations.
Valuation takeaway
Highway Holdings Limited's multiples are demanding relative to current business quality. Material improvement is needed to justify them.
Annual Financial Ratios Highway Holdings Limited
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
P/E |
-2.2 | 67.7 | -8.5 | -27.0 | 17.8 | -26.1 | 25.9 | -11.8 | 7.1 | 27.8 | 13.3 | 11.5 | 16.7 | 14.5 | 41.9 | 6.9 | 19.9 | - |
P/S |
0.7 | 1.0 | 1.3 | 0.8 | 0.6 | 1.3 | 1.4 | 0.5 | 0.6 | 0.7 | 0.7 | 0.6 | 0.4 | 0.3 | 0.3 | 0.4 | - | - |
EPS |
-0.3 | 0.0 | -0.2 | -0.1 | 0.1 | -0.1 | 0.2 | -0.2 | 0.4 | 0.1 | 0.3 | 0.3 | 0.2 | 0.1 | 0.1 | 0.4 | 0.1 | - |
EV (Enterprise Value) |
4.43 M | 4.49 M | 6.26 M | 6.65 M | 7.45 M | 9.98 M | 16.2 M | 3.7 M | 6.13 M | 10.9 M | 12.7 M | 8.36 M | 8.27 M | 5.25 M | 6.55 M | 11.4 M | 2.09 M | -5.81 M |
EBITDA per Share |
-0.5 | -0.12 | -0.34 | -0.07 | 0.18 | -0.11 | 0.23 | -0.13 | 0.59 | 0.27 | 0.482 | 0.438 | 0.356 | 0.251 | 0.237 | 0.635 | 0.09 | - |
EV/EBITDA |
-1.9 | -8.5 | -4.3 | -24.8 | 10.2 | -21.8 | 0.1 | -5.4 | 3.1 | 4.5 | 4.1 | 2.1 | 3.4 | 2.0 | 2.6 | 2.3 | 6.0 | - |
PEG |
-0.05 | -1.48 | 0.1 | 0.14 | -0.13 | 0.28 | -0.41 | 4.05 | 0.24 | -0.48 | 1.55 | 0.13 | 0.51 | 0.1 | -0.47 | 0.02 | - | - |
P/B |
0.6 | 1.1 | 1.2 | 1.0 | 0.8 | 1.2 | 1.6 | 0.7 | 0.9 | 1.3 | 1.4 | 1.1 | 0.8 | 0.5 | 0.6 | 0.9 | - | - |
P/CF |
-2.3 | -19.9 | 19.7 | 9.8 | -48.0 | -115.6 | 40.3 | -17.0 | 4.6 | 7.2 | 22.7 | 3.2 | 6.4 | -26.2 | 26.9 | 11.6 | 4.8 | - |
ROE % |
-31.15 | 1.69 | -14.45 | -3.58 | 4.78 | -4.72 | 6.28 | -6.21 | 13.15 | 4.66 | 10.48 | 9.40 | 4.94 | 3.75 | 1.50 | 13.13 | 3.60 | - |
ROA % |
-13.86 | 1.11 | -8.47 | -2.12 | 2.98 | -2.98 | 3.78 | -4.13 | 8.55 | 3.00 | 7.34 | 6.77 | 3.80 | 2.93 | 1.09 | 8.51 | - | - |
ROCE % |
-47.16 | -8.53 | -24.57 | -5.81 | 6.12 | -6.30 | 5.66 | -7.42 | 16.33 | 6.71 | 12.67 | 10.36 | 6.48 | 2.99 | 1.87 | 13.19 | 2.84 | - |
Current Ratio |
2.0 | 2.9 | 2.4 | 2.4 | 2.7 | 2.7 | 2.5 | 3.0 | 2.8 | 2.6 | 3.1 | 3.3 | 3.9 | 4.1 | 3.4 | 2.7 | - | - |
DSO |
77.7 | 56.0 | 37.0 | 0.6 | 14.5 | 59.3 | 62.1 | 57.4 | 53.6 | 63.4 | 68.8 | 48.0 | 50.3 | 65.9 | 53.5 | 56.2 | - | - |
DIO |
137.9 | 100.1 | 117.9 | 96.7 | 97.4 | 119.7 | 76.8 | 76.3 | 76.4 | 58.9 | 30.6 | 45.6 | 77.3 | 63.4 | 71.6 | 62.9 | - | - |
DPO |
55.7 | 57.2 | 73.7 | 45.1 | 31.4 | 46.6 | 46.9 | 35.2 | 48.3 | 62.2 | 28.1 | 34.6 | 33.0 | 32.6 | 46.0 | 53.1 | - | - |
Operating Cycle |
215.5 | 156.2 | 154.8 | 97.3 | 111.9 | 179.1 | 138.9 | 133.7 | 129.9 | 122.3 | 99.3 | 93.6 | 127.5 | 129.4 | 125.1 | 119.2 | - | - |
Cash Conversion Cycle |
159.8 | 99.0 | 81.1 | 52.2 | 80.5 | 132.4 | 92.1 | 98.5 | 81.6 | 60.1 | 71.3 | 59.0 | 94.5 | 96.8 | 79.1 | 66.0 | - | - |
All numbers in USD currency
Quarterly Financial Ratios Highway Holdings Limited
| 2026-Q1 | 2025-Q1 | 2024-Q1 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q1 | 2009-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPS |
-0.33 | 0.02 | -0.22 | -0.07 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.11 | - |
EBITDA per Share |
-0.5 | -0.12 | -0.34 | -0.07 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.09 | - |
ROE % |
-47.49 | -12.74 | -14.45 | -3.58 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3.60 | - |
ROA % |
-23.34 | 1.11 | -8.47 | -2.12 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
ROCE % |
-86.08 | -36.08 | -24.57 | -5.81 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 2.84 | - |
Current Ratio |
2.0 | 2.9 | 2.4 | 2.5 | - | - | - | 2.7 | - | - | - | 2.7 | - | - | - | 2.5 | - | - | - | 3.0 | - | - | - | 2.9 | - | - | - | 2.8 | - | - | - | 3.3 | - | - | - | 3.6 | - | - | - | 4.3 | - | - | - | 4.6 | - | - | - | 3.6 | - | - | - | 2.8 | - | - |
DSO |
19.4 | 14.0 | 9.2 | 0.1 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
DIO |
34.5 | 25.0 | 29.5 | 9.1 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
DPO |
13.9 | 14.3 | 18.4 | 6.0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Cycle |
- | 39.0 | 38.7 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash Conversion Cycle |
- | 24.8 | 20.3 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Multiples are an important financial analysis tool for the company Highway Holdings Limited, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.
Advantages of Using Financial Ratios- Simplified Data Analysis
Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition. - Comparability Between Companies
Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations. - Identification of Trends and Issues
Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks. - Decision Support
Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions. - Accelerated Assessment of Investment Attractiveness
Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.
Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.
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