MasterBeef Group (MB) Key Metrics
MB key metrics, 2015–2025
Fiscal year ended December 31, 2025 · Hong Kong dollarsMB returns How much profit the business earns on the capital it uses.
MB financial health Debt, liquidity and how easily interest is covered.
MB efficiency & capital use Working capital cycle and where the cash goes.
MB returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MB cash returned to shareholders
MB key metrics in Hong Kong dollars
2015–2025| 2025 | 2024 | 2023 | 2022 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|
| Returns & profitability | |||||||
| Return on equity (ROE) | −138.3% | 55.5% | 4.9% | 3.3% | −8.4% | −22.2% | −34.1% |
| Return on invested capital (ROIC) | −24.2% | −5.5% | 44.0% | 19.9% | −33.2% | −55.4% | −94.7% |
| Return on assets (ROA) | −17.2% | 8.6% | 0.7% | 2.4% | −6.7% | −16.1% | −25.5% |
| Return on tangible assets | −17.3% | 10.7% | 0.7% | 7.3% | −5.2% | −17.3% | −26.7% |
| Free cash flow margin | −3.0% | 9.6% | 7.9% | 23.8% | 2.3% | −9.0% | −28.1% |
| Income quality (OCF / net income) | — | 1.83 | 27.94 | 4.22 | — | — | — |
| Financial health | |||||||
| Total debt | HK$211.2M | HK$188.3M | HK$193.4M | HK$262.2M | HK$130.8M | HK$124.3M | HK$128.7M |
| Cash & short-term investments | HK$147.7M | HK$117.3M | HK$187.6M | HK$196.3M | HK$1.81B | HK$666.0M | HK$723.9M |
| Net debt | HK$63.4M | HK$70.9M | HK$5.8M | HK$65.9M | −HK$1.68B | −HK$541.6M | −HK$595.2M |
| Debt / equity | 4.45 | 6.60 | 2.15 | 7.90 | 0.07 | 0.16 | 0.16 |
| Debt / assets | 0.69 | 0.61 | 0.42 | 0.58 | 0.06 | 0.11 | 0.12 |
| Net debt / EBITDA | 2.06 | 0.57 | 0.06 | 0.58 | — | — | — |
| Current ratio | 1.55 | 0.83 | 1.03 | 0.80 | 8.66 | 4.76 | 6.31 |
| Quick ratio | 1.38 | 0.73 | 0.94 | 0.70 | 8.66 | 4.76 | 6.31 |
| Interest coverage | -3.3 | -0.6 | 8.9 | 5.7 | — | — | -36.4 |
| Working capital | HK$74.9M | −HK$36.3M | HK$7.5M | −HK$60.6M | HK$1.72B | HK$604.6M | HK$672.6M |
| Invested capital | HK$110.9M | HK$99.5M | HK$95.9M | HK$99.1M | HK$286.3M | HK$246.8M | HK$224.6M |
| Tangible asset value | HK$47.4M | HK$28.5M | HK$90.1M | HK$33.2M | HK$1.82B | HK$702.6M | HK$773.1M |
| Net current asset value | −HK$46.3M | −HK$103.4M | −HK$74.8M | −HK$178.1M | HK$1.55B | HK$440.8M | HK$523.1M |
| Capital allocation | |||||||
| Dividends paid | HK$0 | HK$0 | HK$0 | HK$0 | — | — | HK$13.5M |
| Share buybacks (net) | — | — | — | — | HK$1.81B | HK$666.0M | HK$723.9M |
| Dividend payout ratio | — | 0.0% | 0.0% | 0.0% | — | — | — |
| Dividends + buybacks / free cash flow | — | 0.0% | 0.0% | 0.0% | — | — | — |
| Capex / revenue | 0.3% | 2.4% | 8.9% | 7.1% | 3.8% | 6.2% | 9.8% |
| Capex / operating cash flow | — | 19.9% | 53.1% | 23.1% | 61.7% | — | — |
| Capex / depreciation | 0.02 | 0.15 | 0.53 | 0.47 | 0.75 | 1.11 | 1.52 |
| Stock-based compensation / revenue | 2.5% | 0.0% | 0.0% | — | 7.7% | 6.3% | 8.3% |
| R&D / revenue | 1.5% | 1.2% | 1.5% | 1.4% | 19.6% | 21.8% | 22.7% |
| SG&A / revenue | 14.0% | 10.9% | 32.3% | 37.8% | 58.1% | 59.3% | 62.3% |
| Efficiency | |||||||
| Days sales outstanding | 16.7 | 10.8 | 4.9 | 35.7 | 20.0 | 20.7 | 23.9 |
| Days of inventory on hand | 25.2 | 25.3 | 64.3 | 70.8 | — | — | — |
| Days payables outstanding | 16.8 | 18.0 | 38.3 | 28.6 | 5.5 | 5.1 | 5.6 |
| Cash conversion cycle (days) | 25.1 | 18.1 | 30.9 | 77.9 | 14.4 | 15.6 | 18.3 |
| Receivables turnover | 21.87 | 33.77 | 74.76 | 10.21 | 18.27 | 17.63 | 15.26 |
| Payables turnover | 21.69 | 20.24 | 9.53 | 12.77 | 65.96 | 72.22 | 65.12 |
| Inventory turnover | 14.47 | 14.41 | 5.68 | 5.16 | — | — | — |
| Asset turnover | 1.50 | 1.32 | 1.10 | 0.33 | 0.82 | 0.98 | 0.72 |
| Average receivables | HK$21.0M | HK$14.9M | HK$6.7M | HK$44.7M | HK$78.0M | HK$61.1M | HK$51.5M |
| Average payables | HK$14.6M | HK$16.4M | HK$17.0M | HK$12.6M | HK$6.1M | HK$4.6M | HK$4.4M |
| Average inventory | HK$21.9M | HK$23.1M | HK$28.5M | HK$31.2M | — | — | — |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 6.3% | 7.7% | 4.3% |
Computed from MB's annual financial statements (latest annual report filed May 15, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Hong Kong dollars; data from EODHD. Averages use the opening and closing balance of each year.
MB valuation and financial ratios
MasterBeef earned a return on equity of −138.3% and a return on invested capital of −24.2% in fiscal 2025. It ended the year with HK$211.2 million of debt and HK$147.7 million in cash and short-term investments, net debt of HK$63.4 million.
See the MB income statement, the MB chart for price history, or the MB stock overview for the latest quote and news.
MB key metrics FAQ
What is MasterBeef's return on equity?
MasterBeef's return on equity (ROE) was −138.3% in fiscal 2025: net income of -HK$52.5 million on average shareholders' equity of HK$38.0 million.
What is MasterBeef's ROIC?
MasterBeef's return on invested capital was −24.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does MasterBeef have?
MasterBeef had total debt of HK$211.2 million at the end of fiscal 2025, a debt-to-equity ratio of 4.45 and HK$63.4 million of net debt (2.06 times EBITDA).
Does MasterBeef pay a dividend?
MasterBeef did not pay a dividend in fiscal 2025.
What is MasterBeef's current ratio?
MasterBeef's current ratio was 1.55 at the end of fiscal 2025: current assets were 1.55 times current liabilities.