PN Smart Energy Ltd key statistics and ratios

In fiscal 2025, PN Smart Energy Ltd had return on equity of -14.9%, an operating margin of -4.0%, debt equal to 10.7% of equity and a current ratio of 1.59. 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.

PN Smart Energy Ltd: financial ratios, annual
Fiscal year	2023Sept 2023	2024Sept 2024	2025Sept 2025
Gross margin	17.0%	13.1%	10.0%
Operating margin	5.3%	2.2%	−4.0%
Net margin	2.2%	0.9%	−4.3%
Free-cash-flow margin	0.5%	2.7%	3.8%
Return on equity	6.5%	2.8%	−14.9%
Return on assets	—	1.5%	−7.0%
Asset turnover	—	1.56	1.64
Current ratio	—	1.99	1.59
Debt to equity	0.0%	0.0%	10.7%
Interest cover (operating income ÷ interest)	30.6x	5.5x	n/m
Effective tax rate	29.4%	8.6%	—
R&D as % of revenue	1.2%	3.8%	2.7%
Capital spending as % of revenue	0.6%	0.5%	0.7%
Free cash flow ÷ net income	22.4%	288.2%	—

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 · September 30, 2025

What it owns · $45m

Short-term assets $35mLonger-term assets $11m

What it owes, and who funded it · $43m

Short-term liabilities $22mLonger-term liabilities $1mShareholders' equity $20m

Short-term assets cover short-term liabilities $35m of assets due within a year against $22m of liabilities due within a year.
Short-term assets cover long-term liabilities $35m short-term assets against $1m 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 $207,848 of interest.

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