Ten-League International Holdings Limited (TLIH) Key Metrics
TLIH key metrics, 2021–2025
Fiscal year ended December 31, 2025 · Singapore dollarsTLIH returns How much profit the business earns on the capital it uses.
TLIH financial health Debt, liquidity and how easily interest is covered.
TLIH efficiency & capital use Working capital cycle and where the cash goes.
TLIH returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TLIH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TLIH cash returned to shareholders
TLIH key metrics in Singapore dollars
2021–2025| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Returns & profitability | |||||
| Return on equity (ROE) | 48.7% | 35.7% | 186.6% | 64.4% | 14.6% |
| Return on invested capital (ROIC) | 15.0% | 5.2% | 24.3% | 17.5% | 5.4% |
| Return on assets (ROA) | 7.5% | 2.8% | 11.5% | 9.0% | 3.3% |
| Return on tangible assets | 7.2% | 2.7% | 10.8% | 8.7% | 3.3% |
| Free cash flow margin | 11.9% | −13.3% | −26.7% | 6.1% | −13.6% |
| Income quality (OCF / net income) | 4.70 | 2.66 | −0.99 | 4.28 | 2.40 |
| Financial health | |||||
| Total debt | S$31.1M | S$37.6M | S$32.8M | S$26.9M | S$30.0M |
| Cash & short-term investments | S$10.7M | S$686,000 | S$2.3M | S$6.0M | S$9.1M |
| Net debt | S$20.4M | S$36.9M | S$30.4M | S$20.9M | S$21.0M |
| Debt / equity | 1.86 | 6.05 | 7.56 | 8.26 | 2.45 |
| Debt / assets | 0.40 | 0.53 | 0.50 | 0.47 | 0.56 |
| Net debt / EBITDA | 1.47 | 4.25 | 2.33 | 2.15 | 3.97 |
| Current ratio | 0.87 | 0.70 | 0.75 | 0.65 | 1.00 |
| Quick ratio | 0.56 | 0.37 | 0.58 | 0.45 | 0.71 |
| Interest coverage | 8.8 | 2.9 | 10.0 | 12.1 | 4.5 |
| Working capital | −S$6.6M | −S$16.7M | −S$12.6M | −S$15.5M | S$42,000 |
| Invested capital | S$37.1M | S$43.2M | S$34.8M | S$24.1M | S$33.2M |
| Tangible asset value | S$16.7M | S$6.2M | S$4.3M | S$3.3M | S$12.3M |
| Net current asset value | −S$16.8M | −S$25.6M | −S$23.6M | −S$25.3M | −S$8.4M |
| Capital allocation | |||||
| Dividends paid | — | — | — | S$14.0M | S$0 |
| Dividend payout ratio | — | — | — | 280.3% | 0.0% |
| Dividends + buybacks / free cash flow | — | — | — | 308.4% | — |
| Capex / revenue | 22.6% | 21.9% | 17.0% | 22.6% | 21.1% |
| Capex / operating cash flow | 65.6% | 255.9% | — | 78.8% | 280.7% |
| Capex / depreciation | 2.94 | 2.50 | 3.00 | 5.70 | 5.45 |
| SG&A / revenue | 10.6% | 10.9% | 8.4% | 8.5% | 8.8% |
| Efficiency | |||||
| Days sales outstanding | 78.8 | 130.3 | 95.5 | 67.2 | 90.6 |
| Days of inventory on hand | 109.0 | 103.1 | 56.6 | 57.4 | 74.8 |
| Days payables outstanding | 55.2 | 73.0 | 84.5 | 83.5 | 89.3 |
| Cash conversion cycle (days) | 132.6 | 160.4 | 67.7 | 41.2 | 76.1 |
| Receivables turnover | 4.63 | 2.80 | 3.82 | 5.43 | 4.03 |
| Payables turnover | 6.61 | 5.00 | 4.32 | 4.37 | 4.09 |
| Inventory turnover | 3.35 | 3.54 | 6.44 | 6.36 | 4.88 |
| Asset turnover | 1.03 | 0.86 | 1.18 | 1.34 | 1.06 |
| Average receivables | S$16.4M | S$20.9M | S$19.0M | S$13.7M | S$14.2M |
| Average payables | S$8.7M | S$9.6M | S$13.2M | S$13.7M | S$11.4M |
| Average inventory | S$17.2M | S$13.5M | S$8.8M | S$9.4M | S$9.5M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from TLIH's annual financial statements (latest annual report filed April 30, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Singapore dollars; data from EODHD. Averages use the opening and closing balance of each year.
TLIH valuation and financial ratios
Ten-League International earned a return on equity of 48.7% and a return on invested capital of 15.0% in fiscal 2025. It ended the year with S$31.1 million of debt and S$10.7 million in cash and short-term investments, net debt of S$20.4 million.
See the TLIH income statement, the TLIH chart for price history, or the TLIH stock overview for the latest quote and news.
TLIH key metrics FAQ
What is Ten-League International's return on equity?
Ten-League International's return on equity (ROE) was 48.7% in fiscal 2025: net income of S$5.6 million on average shareholders' equity of S$11.5 million.
What is Ten-League International's ROIC?
Ten-League International's return on invested capital was 15.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Ten-League International have?
Ten-League International had total debt of S$31.1 million at the end of fiscal 2025, a debt-to-equity ratio of 1.86 and S$20.4 million of net debt (1.47 times EBITDA).
What is Ten-League International's current ratio?
Ten-League International's current ratio was 0.87 at the end of fiscal 2025: current assets were 0.87 times current liabilities.