Metalpha Technology Holding Ltd key statistics and ratios

In fiscal 2026, Metalpha Technology Holding Ltd had return on equity of 2.9%, an operating margin of 3.6%, debt equal to 0.9% of equity and a current ratio of 1.12. 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.

Metalpha Technology Holding Ltd: financial ratios, annual
Fiscal year	2020Mar 2020	2021Mar 2021	2022Mar 2022	2023Mar 2023	2024Mar 2024	2025Mar 2025	2026Mar 2026
Gross margin	—	—	2.2%	35.5%	33.6%	47.8%	41.4%
Operating margin	<−999%	<−999%	−150.8%	−27.3%	7.9%	39.1%	3.6%
Net margin	<−999%	<−999%	−669.9%	−361.1%	−21.9%	35.7%	3.5%
Free-cash-flow margin	—	—	—	−20.1%	−69.2%	0.1%	−40.0%
Return on equity	−17.9%	−60.3%	−131.5%	—	—	87.6%	2.9%
Return on assets	−14.2%	−40.2%	−72.3%	−51.1%	−3.2%	7.5%	0.4%
Asset turnover	0.00	0.02	0.11	0.14	0.15	0.21	0.10
Current ratio	3.76	2.20	2.36	1.18	1.11	1.17	1.12
Debt to equity	—	59.2%	3.0%	—	—	0.5%	0.9%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	—	—	76.1x
Effective tax rate	—	—	—	—	—	—	18.4%
Capital spending as % of revenue	—	—	—	0.1%	0.0%	0.1%	0.0%
Free cash flow ÷ net income	—	—	—	—	—	0.2%	<−999%

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 Metalpha Technology Holding Ltd's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Metalpha Technology Holding Ltd.