Ratios	Dec 24	Dec 23	Dec 22	Dec 21
Liquidity Ratios
Current Ratio	―	2.53	3.20	0.48	2.84
Quick Ratio	―	2.41	3.11	0.48	2.78
Cash Ratio	―	1.83	2.80	0.44	2.19
Solvency Ratio	―	1.57	0.59	2.11	1.50
Operating Cash Flow Ratio	―	2.08	5.43	0.45	2.95
Short-Term Operating Cash Flow Coverage	―	1.50	2.10	1.10	35.22
Net Current Asset Value	HK$ ―	HK$ 237.70M	HK$ 428.89M	HK$ 839.20M	HK$ 327.43M
Leverage Ratios
Debt-to-Assets Ratio	―	0.07	0.10	0.14	0.24
Debt-to-Equity Ratio	―	0.08	0.12	0.18	0.37
Debt-to-Capital Ratio	―	0.07	0.11	0.15	0.27
Long-Term Debt-to-Capital Ratio	―	0.00	0.00	0.00	0.10
Financial Leverage Ratio	―	1.18	1.22	1.29	1.55
Debt Service Coverage Ratio	―	1.69	2.65	1.05	32.21
Interest Coverage Ratio	―	126.25	-7.83	124.04	256.17
Debt to Market Cap	―	0.36	0.76	1.45	0.22
Interest Debt Per Share	―	0.10	0.13	0.24	0.33
Net Debt to EBITDA	―	-0.49	-0.28	-0.70	-0.27
Profitability Margins
Gross Profit Margin	―	23.50%	-33.28%	44.66%	50.69%
EBIT Margin	―	27.50%	2.04%	44.79%	59.35%
EBITDA Margin	―	40.70%	201.08%	54.48%	66.06%
Operating Profit Margin	―	25.73%	-3.60%	43.47%	58.28%
Pretax Profit Margin	―	27.30%	1.58%	44.44%	59.12%
Net Profit Margin	―	27.30%	2.37%	43.98%	58.65%
Continuous Operations Profit Margin	―	27.32%	2.33%	43.97%	58.65%
Net Income Per EBT	―	100.00%	149.65%	98.96%	99.21%
EBT Per EBIT	―	106.09%	-43.89%	102.21%	101.45%
Return on Assets (ROA)	―	15.76%	0.96%	38.75%	47.97%
Return on Equity (ROE)	―	18.53%	1.17%	49.97%	74.48%
Return on Capital Employed (ROCE)	―	16.50%	-1.66%	-428.95%	57.87%
Return on Invested Capital (ROIC)	―	14.08%	-1.75%	90.07%	53.39%
Return on Tangible Assets	―	15.77%	0.96%	38.75%	47.97%
Earnings Yield	―	40.86%	2.39%	124.01%	124.17%
Efficiency Ratios
Receivables Turnover	―	9.92	11.07	21.02	7.88
Payables Turnover	―	7.31	6.82	7.15	4.08
Inventory Turnover	―	38.05	41.83	53.62	35.91
Fixed Asset Turnover	―	0.77	0.65	2.08	1.67
Asset Turnover	―	0.58	0.40	0.88	0.82
Working Capital Turnover Ratio	―	2.93	-1.75	-5.89	2.14
Cash Conversion Cycle	―	-3.55	-11.83	-26.86	-32.87
Days of Sales Outstanding	―	36.79	32.98	17.37	46.34
Days of Inventory Outstanding	―	9.59	8.73	6.81	10.16
Days of Payables Outstanding	―	49.93	53.54	51.04	89.37
Operating Cycle	―	46.38	41.71	24.17	56.50
Cash Flow Ratios
Operating Cash Flow Per Share	―	0.29	0.84	0.83	0.71
Free Cash Flow Per Share	―	-0.04	-0.16	0.69	0.42
CapEx Per Share	―	0.33	0.24	0.14	0.29
Free Cash Flow to Operating Cash Flow	―	-0.13	-0.19	0.83	0.59
Dividend Paid and CapEx Coverage Ratio	―	0.57	1.74	2.26	2.39
Capital Expenditure Coverage Ratio	―	0.88	3.50	5.76	2.44
Operating Cash Flow Coverage Ratio	―	3.07	6.39	3.54	2.16
Operating Cash Flow to Sales Ratio	―	0.36	1.59	0.56	0.64
Free Cash Flow Yield	―	-7.01%	-30.88%	131.02%	79.66%
Valuation Ratios
Price-to-Earnings (P/E) Ratio	―	2.45	41.84	0.81	0.81
Price-to-Sales (P/S) Ratio	―	0.67	0.99	0.35	0.47
Price-to-Book (P/B) Ratio	―	0.45	0.49	0.40	0.60
Price-to-Free Cash Flow (P/FCF) Ratio	―	-14.26	-3.24	0.76	1.26
Price-to-Operating Cash Flow Ratio	―	1.86	0.62	0.63	0.74
Price-to-Earnings Growth (PEG) Ratio	―	<0.01	-0.43	0.00	-0.03
Price-to-Fair Value	―	0.45	0.49	0.40	0.60
Enterprise Value Multiple	―	1.15	0.21	-0.05	0.45
Enterprise Value	―	630.09M	367.29M	-65.00M	541.84M
EV to EBITDA	―	1.15	0.21	-0.05	0.45
EV to Sales	―	0.47	0.42	-0.03	0.29
EV to Free Cash Flow	―	-10.03	-1.37	-0.06	0.78
EV to Operating Cash Flow	―	1.31	0.26	-0.05	0.46
Tangible Book Value Per Share	―	1.19	1.07	1.30	0.88
Shareholders’ Equity Per Share	―	1.19	1.07	1.30	0.88
Tax and Other Ratios
Effective Tax Rate	―	>-0.01	-0.47	0.01	<0.01
Revenue Per Share	―	0.81	0.53	1.48	1.11
Net Income Per Share	―	0.22	0.01	0.65	0.65
Tax Burden	―	1.00	1.50	0.99	0.99
Interest Burden	―	0.99	0.77	0.99	1.00
Research & Development to Revenue	―	0.00	0.00	0.00	0.00
SG&A to Revenue	―	0.03	0.05	<0.01	<0.01
Stock-Based Compensation to Revenue	―	0.00	0.00	0.00	0.00
Income Quality	―	1.31	100.36	1.27	1.08

T.S. Lines Limited (2510) Ratios

T.S. Lines Limited Ratios