Phoenix Asia Holdings Ltd key statistics and ratios

In fiscal 2026, Phoenix Asia Holdings Ltd had return on equity of -25.9%, an operating margin of -16.8%, debt equal to 0.0% of equity and a current ratio of 5.46. 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.

Phoenix Asia Holdings Ltd: financial ratios, annual
Fiscal year	2023Mar 2023	2024Mar 2024	2025Mar 2025	2026Mar 2026
Gross margin	25.4%	25.8%	29.5%	4.6%
Operating margin	16.9%	21.4%	17.6%	−16.8%
Net margin	15.8%	18.4%	13.9%	−16.7%
Free-cash-flow margin	−3.6%	—	15.5%	−79.5%
Return on equity	53.8%	89.5%	42.6%	−25.9%
Return on assets	—	28.5%	22.6%	−18.9%
Asset turnover	—	1.55	1.62	1.14
Current ratio	—	1.76	2.24	5.46
Debt to equity	—	0.0%	0.0%	0.0%
Interest cover (operating income ÷ interest)	—	—	—	n/m
Effective tax rate	10.4%	14.8%	20.9%	—
Capital spending as % of revenue	1.0%	—	0.6%	0.0%
Free cash flow ÷ net income	−22.7%	—	111.0%	—

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 · March 31, 2026

What it owns · $7m

Short-term assets $6mLonger-term assets $1m

What it owes, and who funded it · $7m

Short-term liabilities $1mLonger-term liabilities $0mShareholders' equity $6m

Short-term assets cover short-term liabilities $6m of assets due within a year against $1m of liabilities due within a year.
Short-term assets cover long-term liabilities $6m short-term assets against $48,385 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 −$1m against $2,481 of interest.

From Phoenix Asia 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: Low.

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

Compare with peers

Head to head: PHOE vs WXM MAGH vs PHOE MGN vs PHOE

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Figures from Phoenix Asia 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 Phoenix Asia Holdings Ltd.