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	Apr 20, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Market Capitalization	133	131	56	72	100	195
Market Cap Growth	166.67%	132.88%	-21.79%	-28.21%	-48.68%	52.00%
Enterprise Value	86	106	52	47	73	125
Last Close Price	0.52	0.51	0.22	0.28	0.28	0.42
PE Ratio	44.75	43.89	9.89	6.12	8.95	22.55
PS Ratio	1.44	1.42	0.53	0.58	0.77	1.44
PB Ratio	1.61	1.58	0.70	0.99	1.00	1.40
P/TBV Ratio	1.65	1.62	0.72	1.01	1.02	1.42
P/FCF Ratio	4.42	4.33	3.36	1.99	4.78	12.48
P/OCF Ratio	4.38	4.30	3.31	1.98	4.64	6.69
EV/Sales Ratio	0.94	1.15	0.49	0.38	0.56	0.92
EV/EBITDA Ratio	4.04	20.53	5.35	2.80	4.76	6.02
EV/EBIT Ratio	24.70	30.36	7.32	3.67	6.48	7.29
EV/FCF Ratio	2.87	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	2.23%	2.28%	10.11%	16.34%	11.18%	4.44%
FCF Yield	22.63%	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.