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Highway Holdings Limited HIHO
$ 1.07 0.46%
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Annual report 2026
added 07-14-2026

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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