Lichen China Limited (LICN) Key Metrics
LICN valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $14.0M
- Enterprise value
- −$8.9M
- P/E (TTM)
- 0.0
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 0.7 10-yr median 12.7
- Price / book
- 0.2 10-yr median 7.2
- EV / EBITDA
- 3.0
- Dividend yield
- —
- Beta
- −1.03
LICN key metrics, 2015–2025
Fiscal year ended December 31, 2025 · U.S. dollarsLICN valuation Price multiples at each fiscal year-end price.
LICN returns How much profit the business earns on the capital it uses.
LICN per-share figures Results divided by the shares outstanding at year-end.
LICN financial health Debt, liquidity and how easily interest is covered.
LICN efficiency & capital use Working capital cycle and where the cash goes.
LICN valuation history
LICN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
LICN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
LICN cash returned to shareholders
LICN price vs earnings per share
LICN key metrics
2015–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $15.0M | $528.1M | $10.50B | — | — | — | — | — | — | — |
| Enterprise value | −$11.4M | $501.5M | $10.47B | — | — | — | — | — | — | — |
| Price / sales | 0.6 | 12.7 | 264.0 | — | — | — | — | — | — | — |
| Price / book | 0.2 | 7.2 | 170.9 | — | — | — | — | — | — | — |
| EV / sales | -0.5 | 12.1 | 263.4 | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | 689.7 | — | — | — | — | — | — | — |
| Earnings yield | −146.9% | −1.2% | 0.1% | — | — | — | — | — | — | — |
| Free cash flow yield | −119.4% | −2.2% | −0.0% | — | — | — | — | — | — | — |
| Share price at fiscal year-end | $2.82 | $35.52 | $396.00 | — | — | — | — | — | — | — |
| Per share | ||||||||||
| Revenue per share | $4.62 | $2.79 | $1.50 | $1.50 | $1.19 | $1.07 | $1.10 | $0.89 | $0.72 | $0.51 |
| Earnings per share | −$4.14 | −$0.41 | $0.31 | $0.35 | $0.29 | $0.22 | $0.25 | $0.23 | $0.20 | $0.14 |
| Operating cash flow per share | −$3.37 | −$0.37 | $0.02 | $0.48 | $0.25 | $0.29 | $0.47 | $0.22 | $0.31 | $0.13 |
| Free cash flow per share | −$3.37 | −$0.77 | −$0.10 | $0.35 | $0.25 | $0.25 | $0.10 | $0.07 | $0.24 | $0.12 |
| Cash per share | $5.08 | $1.80 | $0.98 | $1.00 | $0.59 | $0.30 | $0.19 | $0.17 | $0.16 | $0.06 |
| Book value per share | $13.31 | $4.92 | $2.32 | $1.83 | $1.28 | $0.96 | $0.83 | $0.65 | $0.38 | $0.29 |
| Tangible book value per share | $11.63 | $3.88 | $2.09 | $1.63 | $1.15 | $0.77 | $0.63 | $0.65 | $0.38 | $0.29 |
| Dividends per share | — | — | — | $0.00 | $0.00 | $0.15 | $0.25 | — | $0.10 | — |
| Capex per share | $0.00 | $0.40 | $0.12 | $0.13 | $0.00 | $0.04 | $0.38 | $0.15 | $0.06 | $0.00 |
| Debt per share | $0.10 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | — | — | — |
| Shares outstanding | 5.3M | 14.9M | 26.5M | 22.5M | 28.8M | 28.8M | 28.8M | 28.8M | 28.8M | 28.8M |
| Change in shares outstanding | −64.3% | −43.9% | +17.8% | −21.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −30.6% | −9.1% | 16.3% | 20.1% | 26.2% | 24.9% | 33.4% | 44.1% | 60.3% | 65.3% |
| Return on invested capital (ROIC) | −25.1% | −8.7% | 32.4% | 39.6% | 41.9% | 33.0% | 43.9% | 65.2% | 96.0% | 80.7% |
| Return on assets (ROA) | −28.3% | −8.4% | 14.9% | 17.5% | 22.2% | 20.6% | 27.9% | 35.6% | 44.4% | 47.9% |
| Return on tangible assets | −32.9% | −9.5% | 14.0% | 18.6% | 21.7% | 23.1% | 30.4% | 29.8% | 39.5% | 34.5% |
| Free cash flow margin | −72.8% | −27.7% | −6.7% | 23.4% | 21.2% | 23.4% | 8.7% | 7.5% | 33.9% | 24.3% |
| Income quality (OCF / net income) | — | — | 0.07 | 1.38 | 0.86 | 1.30 | 1.92 | 0.98 | 1.51 | 0.94 |
| Financial health | ||||||||||
| Total debt | $554,000 | $61,000 | $129,000 | $272,000 | $345,000 | $337,000 | $315,000 | — | — | — |
| Cash & short-term investments | $26.9M | $26.7M | $25.9M | $22.6M | $16.8M | $8.7M | $5.4M | $5.0M | $4.6M | $1.7M |
| Net debt | −$26.4M | −$26.7M | −$25.7M | −$22.3M | −$16.5M | −$8.3M | −$5.1M | −$5.0M | −$4.6M | −$1.7M |
| Debt / equity | 0.01 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | — | — | — |
| Debt / assets | 0.01 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | — | — | — |
| Net debt / EBITDA | — | — | −1.69 | −1.68 | −1.20 | −0.87 | −0.42 | −0.51 | −0.52 | −0.31 |
| Current ratio | 7.73 | 7.96 | 9.81 | 5.21 | 3.91 | 2.04 | 1.47 | 3.31 | 3.30 | 3.46 |
| Quick ratio | 7.73 | 7.95 | 9.79 | 5.19 | 3.88 | 2.04 | 1.46 | 3.30 | 3.29 | 3.45 |
| Interest coverage | — | — | — | 113.3 | 52.3 | 42.0 | 198.5 | — | — | — |
| Working capital | $31.5M | $29.7M | $36.0M | $22.0M | $17.8M | $5.9M | $2.4M | $7.6M | $8.8M | $7.6M |
| Invested capital | $44.2M | $46.5M | $35.7M | $18.8M | $20.3M | $19.3M | $18.6M | $13.6M | $6.3M | $6.7M |
| Tangible asset value | $61.7M | $60.1M | $55.4M | $36.6M | $33.0M | $22.1M | $18.2M | $18.6M | $10.9M | $8.4M |
| Net current asset value | $31.1M | $29.7M | $36.0M | $21.9M | $17.8M | $5.9M | $2.4M | $7.6M | $8.8M | $7.6M |
| Graham number | — | — | $4.05 | $3.78 | $2.91 | $2.20 | $2.14 | $1.81 | $1.31 | $0.95 |
| Graham net-net per share | $4.46 | $1.87 | $0.95 | $0.88 | $0.49 | $0.18 | $0.06 | $0.12 | $0.09 | $0.06 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $0 | $0 | $4.3M | $7.2M | — | $3.0M | — |
| Dividend payout ratio | — | — | — | 0.0% | 0.0% | 67.9% | 102.5% | — | 51.7% | — |
| Dividends + buybacks / free cash flow | — | — | — | 0.0% | 0.0% | 60.5% | 264.4% | — | 42.8% | — |
| Capex / revenue | 0.0% | 14.3% | 8.1% | 8.4% | 0.1% | 3.8% | 34.3% | 17.4% | 8.5% | 0.8% |
| Capex / operating cash flow | — | — | 575.2% | 26.4% | 0.4% | 13.9% | 79.8% | 70.0% | 20.0% | 3.3% |
| Capex / depreciation | 0.00 | 2.06 | 1.10 | 1.06 | 0.01 | 0.54 | 4.94 | 9.75 | 5.75 | 0.61 |
| Stock-based compensation / revenue | 1.3% | 8.2% | 0.0% | 0.0% | — | — | — | — | — | — |
| R&D / revenue | — | 3.3% | 3.0% | 3.1% | 3.1% | 3.0% | — | 2.4% | 1.9% | 2.7% |
| SG&A / revenue | 96.0% | 42.7% | 22.5% | 22.0% | 20.9% | 27.6% | 30.4% | — | — | — |
| Efficiency | ||||||||||
| Days sales outstanding | 70.1 | 50.9 | 36.8 | 42.7 | 38.3 | 28.1 | 24.6 | 34.7 | 59.0 | 94.8 |
| Days of inventory on hand | — | 1.8 | 2.5 | 3.7 | 2.3 | 0.9 | 1.1 | 1.8 | 2.7 | 3.7 |
| Days payables outstanding | 0.7 | 1.3 | 2.6 | 3.8 | 2.9 | 2.8 | 2.0 | 3.8 | 4.9 | 4.5 |
| Cash conversion cycle (days) | 70.3 | 51.3 | 36.7 | 42.6 | 37.7 | 26.1 | 23.8 | 32.6 | 56.8 | 94.0 |
| Receivables turnover | 5.20 | 7.18 | 9.93 | 8.55 | 9.53 | 13.01 | 14.81 | 10.53 | 6.19 | 3.85 |
| Payables turnover | 559.31 | 272.47 | 139.09 | 95.87 | 126.79 | 131.46 | 186.64 | 94.96 | 74.43 | 81.04 |
| Inventory turnover | — | 205.23 | 144.29 | 98.29 | 159.77 | 422.54 | 341.99 | 201.42 | 134.54 | 98.35 |
| Asset turnover | 0.32 | 0.57 | 0.71 | 0.76 | 0.90 | 0.99 | 1.25 | 1.40 | 1.59 | 1.79 |
| Average receivables | $4.7M | $5.8M | $4.0M | $4.0M | $3.6M | $2.4M | $2.1M | $2.4M | $3.4M | $3.8M |
| Average payables | $27,500 | $58,000 | $111,000 | $142,000 | $109,000 | $90,000 | $65,688 | $77,364 | $75,351 | $52,202 |
| Average inventory | $33,500 | $77,000 | $107,000 | $138,500 | $86,500 | $28,000 | $35,848 | $36,472 | $41,686 | $43,018 |
| Intangibles / total assets | 11.8% | 19.4% | 9.2% | 9.7% | 9.0% | 16.8% | 19.1% | 0.0% | 0.0% | 0.0% |
Computed from LICN's annual financial statements (latest annual report filed April 28, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
LICN valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 0.0. Lichen China earned a return on equity of −30.6% and a return on invested capital of −25.1% in fiscal 2025. It ended the year with $0.6 million of debt and $26.9 million in cash and short-term investments, a net cash position of $26.4 million. The share count fell 81.6% from 28.8M to 5.3M over 9 years.
See the LICN income statement, the LICN chart for price history, or the LICN stock overview for the latest quote and news.
LICN key metrics FAQ
What is Lichen China's P/E ratio?
Lichen China's trailing P/E ratio is 0.0 based on the last twelve months of earnings (as of October 17, 2026). At the end of fiscal 2025 it was —.
What is Lichen China's return on equity?
Lichen China's return on equity (ROE) was −30.6% in fiscal 2025: net income of -$22.0 million on average shareholders' equity of $71.9 million.
What is Lichen China's ROIC?
Lichen China's return on invested capital was −25.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Lichen China have?
Lichen China had total debt of $0.6 million at the end of fiscal 2025, a debt-to-equity ratio of 0.01 and more cash than debt.
What is Lichen China's free cash flow yield?
Lichen China generated -$17.8 million of free cash flow in fiscal 2025, a free cash flow yield of −119.4% on its market value at year-end ($15.0 million).
What is Lichen China's current ratio?
Lichen China's current ratio was 7.73 at the end of fiscal 2025: current assets were 7.73 times current liabilities.