Inneova Holdings Ltd key statistics and ratios

In fiscal 2025, Inneova Holdings Ltd had return on equity of -8.0%, an operating margin of -0.1%, debt equal to 380.6% of equity and a current ratio of 1.06. 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.

Inneova Holdings Ltd: financial ratios, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	18.0%	19.1%	19.6%	19.2%
Operating margin	3.1%	4.6%	2.0%	−0.1%
Net margin	3.0%	3.0%	0.6%	−0.7%
Free-cash-flow margin	−4.5%	5.5%	2.9%	7.6%
Return on equity	49.5%	45.7%	7.5%	−8.0%
Return on assets	3.8%	4.4%	0.8%	−0.9%
Asset turnover	1.28	1.48	1.40	1.34
Current ratio	—	1.09	1.11	1.06
Debt to equity	0.0%	331.6%	453.6%	380.6%
Interest cover (operating income ÷ interest)	2.5x	2.6x	0.9x	n/m
Effective tax rate	17.5%	13.3%	25.0%	—
Capital spending as % of revenue	0.6%	0.5%	1.2%	0.0%
Free cash flow ÷ net income	−153.2%	184.4%	477.4%	—

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.

Financial health

3 of 6 checks passed · December 31, 2025

What it owns · $41m

Short-term assets $37mLonger-term assets $5m

What it owes, and who funded it · $41m

Short-term liabilities $34mLonger-term liabilities $2mShareholders' equity $5m

Short-term assets cover short-term liabilities $37m of assets due within a year against $34m of liabilities due within a year.
Short-term assets cover long-term liabilities $37m short-term assets against $2m of longer-dated liabilities.
More cash than debt $1m of cash against $19m of debt.
Debt below 40% of shareholders' equity Debt is 381% of equity.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt $4m of operating cash flow against $19m of debt.
Operating profit covers interest at least five times over Operating income of −$51,000 against $1m of interest.

From Inneova Holdings Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

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