REF Holdings Limited (HKG:1631)

REF Holdings Ratios and Metrics

Market cap in millions HKD. Fiscal year is January - December.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	May 27, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Market Capitalization	439	131	56	72	100	195
Market Cap Growth	236.47%	132.88%	-21.79%	-28.21%	-48.68%	52.00%
Enterprise Value	393	106	52	47	73	125
Last Close Price	1.43	0.51	0.22	0.28	0.28	0.42
PE Ratio	123.05	43.89	9.89	6.12	8.95	22.55
PS Ratio	4.76	1.42	0.53	0.58	0.77	1.44
PB Ratio	5.30	1.58	0.70	0.99	1.00	1.40
P/TBV Ratio	5.43	1.62	0.72	1.01	1.02	1.42
P/FCF Ratio	14.58	4.33	3.36	1.99	4.78	12.48
P/OCF Ratio	14.47	4.30	3.31	1.98	4.64	6.69
EV/Sales Ratio	4.25	1.15	0.49	0.38	0.56	0.92
EV/EBITDA Ratio	18.34	20.53	5.35	2.80	4.76	6.02
EV/EBIT Ratio	112.15	30.36	7.32	3.67	6.48	7.29
EV/FCF Ratio	13.04	3.53	3.12	1.30	3.51	7.99
Debt / Equity Ratio	0.27	0.27	0.46	0.12	0.26	0.30
Debt / EBITDA Ratio	1.04	1.04	1.32	0.24	0.72	1.06
Debt / FCF Ratio	0.74	0.74	2.18	0.24	1.22	2.67
Net Debt / Equity Ratio	-0.56	-0.56	-0.24	-0.64	-0.52	-0.63
Net Debt / EBITDA Ratio	-9.01	-9.01	-1.99	-2.79	-3.37	-4.22
Net Debt / FCF Ratio	-1.55	-1.55	-1.16	-1.29	-2.48	-5.60
Asset Turnover	0.74	0.74	0.93	0.98	0.72	0.57
Quick Ratio	2.61	2.61	3.32	2.56	2.53	3.17
Current Ratio	2.66	2.66	3.41	2.85	2.61	3.26
Return on Equity (ROE)	3.66%	3.66%	7.43%	13.61%	9.35%	4.97%
Return on Assets (ROA)	1.76%	1.76%	3.87%	6.30%	3.95%	4.53%
Return on Invested Capital (ROIC)	8.56%	6.42%	13.74%	28.99%	19.54%	43.46%
Return on Capital Employed (ROCE)	3.90%	3.90%	7.00%	17.20%	10.50%	10.40%
Earnings Yield	0.68%	2.28%	10.11%	16.34%	11.18%	4.44%
FCF Yield	6.86%	23.07%	29.77%	50.27%	20.94%	8.01%
Dividend Yield	-	-	-	-	52.89%	48.05%
Payout Ratio	-	-	-	327.81%	458.70%	890.12%
Total Shareholder Return	-	-	-	-	52.89%	48.05%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.