Multi Ways Holdings Ltd key statistics and ratios

In fiscal 2025, Multi Ways Holdings Ltd had return on equity of -2.0%, an operating margin of 1.7%, debt equal to 0.0% of equity and a current ratio of 1.57. 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.

Multi Ways Holdings Ltd: financial ratios, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	22.9%	28.0%	25.4%	24.0%	31.3%	24.8%
Operating margin	−2.0%	4.9%	3.9%	−8.5%	−6.2%	1.7%
Net margin	4.4%	5.4%	2.5%	5.0%	−9.2%	−1.0%
Free-cash-flow margin	3.4%	—	0.2%	−5.3%	−43.5%	13.7%
Return on equity	8.4%	17.1%	16.8%	12.7%	−13.6%	−2.0%
Return on assets	—	3.3%	1.8%	3.2%	−4.5%	−0.7%
Asset turnover	—	0.61	0.71	0.65	0.49	0.68
Current ratio	—	1.11	1.07	1.66	1.45	1.57
Debt to equity	—	0.0%	0.0%	0.0%	0.0%	0.0%
Interest cover (operating income ÷ interest)	n/m	2.3x	2.0x	n/m	n/m	0.5x
Effective tax rate	0.2%	11.3%	34.0%	−3.1%	—	—
Capital spending as % of revenue	2.1%	—	2.1%	5.4%	1.9%	0.5%
Free cash flow ÷ net income	77.3%	—	9.5%	−106.2%	—	—
Dividends ÷ net income	—	—	7.9%	588.3%	—	—
Dividends and buybacks ÷ free cash flow	—	—	82.8%	—	—	—

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

2 of 3 checks passed · December 31, 2025

What it owns · $62m

Short-term assets $57mLonger-term assets $5m

What it owes, and who funded it · $62m

Short-term liabilities $36mLonger-term liabilities $3mShareholders' equity $23m

Short-term assets cover short-term liabilities $57m of assets due within a year against $36m of liabilities due within a year.
Short-term assets cover long-term liabilities $57m short-term assets against $3m of longer-dated liabilities.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
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 Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Operating income of $772,000 against $2m of interest.

From Multi Ways 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 Multi Ways 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 Multi Ways Holdings Ltd.