Powell Max Ltd key statistics and ratios

In fiscal 2025, Powell Max Ltd had return on equity of -101.5%, an operating margin of -47.9%, debt equal to 0.0% of equity and a current ratio of 1.80. 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.

Powell Max Ltd: financial ratios, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	41.2%	48.6%	39.4%	49.5%
Operating margin	1.6%	15.5%	−44.0%	−47.9%
Net margin	−0.3%	14.4%	−49.6%	−49.3%
Free-cash-flow margin	13.3%	13.9%	−35.4%	−18.4%
Return on equity	—	—	—	−101.5%
Return on assets	—	30.7%	−42.1%	−44.7%
Asset turnover	—	2.13	0.85	0.91
Current ratio	—	0.46	1.45	1.80
Debt to equity	—	—	18.1%	0.0%
Interest cover (operating income ÷ interest)	0.9x	20.6x	n/m	n/m
Capital spending as % of revenue	1.2%	0.6%	4.1%	0.0%
Free cash flow ÷ net income	—	96.4%	—	—

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

2 of 3 checks passed · December 31, 2025

What it owns · $5m

Short-term assets $4mLonger-term assets $2m

What it owes, and who funded it · $5m

Short-term liabilities $2mLonger-term liabilities $0mShareholders' equity $3m

Short-term assets cover short-term liabilities $4m of assets due within a year against $2m of liabilities due within a year.
Short-term assets cover long-term liabilities $4m short-term assets against $255,320 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 −$3m against $75,914 of interest.

From Powell Max 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 Powell Max 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 Powell Max Ltd.