WF Holding Ltd key statistics and ratios

In fiscal 2025, WF Holding Ltd had return on equity of -127.3%, an operating margin of -20.5%, debt equal to 4.0% of equity and a current ratio of 2.51. 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.

WF Holding Ltd: financial ratios, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	43.1%	34.5%	40.4%	31.9%
Operating margin	25.2%	11.4%	2.5%	−20.5%
Net margin	19.7%	8.6%	2.4%	−64.4%
Free-cash-flow margin	−5.9%	10.2%	15.4%	−36.7%
Return on equity	45.3%	20.8%	4.2%	−127.3%
Return on assets	—	9.1%	1.9%	−54.2%
Asset turnover	—	1.07	0.79	0.84
Current ratio	—	1.64	1.52	2.51
Debt to equity	0.0%	13.4%	8.5%	4.0%
Interest cover (operating income ÷ interest)	56.3x	29.4x	5.5x	n/m
Effective tax rate	23.8%	29.4%	6.2%	—
Capital spending as % of revenue	2.5%	1.3%	1.1%	3.8%
Free cash flow ÷ net income	−29.9%	118.6%	629.0%	—

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

4 of 6 checks passed · December 31, 2025

What it owns · $11m

Short-term assets $5mLonger-term assets $6m

What it owes, and who funded it · $11m

Short-term liabilities $2mLonger-term liabilities $5mShareholders' equity $5m

Short-term assets cover short-term liabilities $5m of assets due within a year against $2m of liabilities due within a year.
Short-term assets cover long-term liabilities $5m short-term assets against $5m of longer-dated liabilities.
More cash than debt $2m of cash against $188,689 of debt.
Debt below 40% of shareholders' equity Debt is 4% of equity.
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 −$2m of operating cash flow against $188,689 of debt.
Operating profit covers interest at least five times over Operating income of −$2m against $16,725 of interest.

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