Garden Stage Ltd key statistics and ratios

In fiscal 2026, Garden Stage Ltd had return on equity of -89.5%, a net margin of -190.1%, debt equal to 63.9% of equity and a current ratio of 1.72. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Garden Stage Ltd: financial ratios, annual
Fiscal year	2022Mar 2022	2023Mar 2023	2024Mar 2024	2025Mar 2025	2026Mar 2026
Net margin	−22.2%	−6.4%	−325.8%	−79.0%	−190.1%
Free-cash-flow margin	−300.8%	−58.2%	−503.5%	−25.0%	−59.6%
Return on equity	—	−20.0%	−81.7%	−54.0%	−89.5%
Return on assets	—	−1.6%	−30.9%	−26.6%	−47.9%
Asset turnover	—	0.25	0.09	0.34	0.25
Current ratio	—	1.12	1.73	1.51	1.72
Debt to equity	0.0%	417.8%	66.1%	119.6%	63.9%
Capital spending as % of revenue	0.8%	0.7%	0.1%	4.0%	1.4%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Garden Stage Ltd's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Garden Stage Ltd.