Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
REF HoldingsHKSE:01631 50 Current Ratio is 2.66 as of Dec. 2025, which is 21% below its 10-year median of 3.35. GuruFocus rates HKSE:01631 with a GF Score™ of 50/100 and a GF Value™ of HK$0.23 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 1,096 Business Services companies, REF Holdings ranks better than 70.62% on this metric.
The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated as a company's Total Current Assets divides by its Total Current Liabilities. REF Holdings's current ratio for the quarter that ended in Dec. 2025 was 2.66.
REF Holdings has a current ratio of 2.66. It generally indicates good short-term financial strength.
The historical rank and industry rank for REF Holdings's Current Ratio or its related term are showing as below:
HKSE:01631'
s Current Ratio Range Over the Past 10 Years
Min: 2.61 Med: 3.35 Max: 4.69
Current: 2.66
During the past 12 years, REF Holdings's highest Current Ratio was 4.69. The lowest was 2.61. And the median was 3.35.
HKSE:01631's Current Ratio is ranked better than 70.62% of 1096
companies
in the Business Services industry
Industry Median: 1.835
vs HKSE:01631: 2.66
REF Holdings (HKSE:01631) Current Ratio Explanation
The current ratio can give a sense of the efficiency of a company's operating cycle or its ability to turn its product into cash. Companies that have trouble getting paid on their receivables or have long inventory turnover can run into liquidity problems because they are unable to alleviate their obligations. Because business operations differ in each industry, it is always more useful to compare companies within the same industry.
Acceptable current ratios vary from industry to industry and are generally between 1 and 3 for healthy businesses.
The higher the current ratio, the more capable the company is of paying its obligations. A ratio under 1 suggests that the company would be unable to pay off its obligations if they came due at that point. While this shows the company is not in good financial health, it does not necessarily mean that it will go bankrupt - as there are many ways to access financing - but it is definitely not a good sign.
If all other things were equal, a creditor, who is expecting to be paid in the next 12 months, would consider a high current ratio to be better than a low current ratio, because a high current ratio means that the company is more likely to meet its liabilities which fall due in the next 12 months.
REF Holdings Current Ratio Related Terms
REF Holdings Current Ratio Historical Data
* Premium members only.
The historical data trend for REF Holdings's Current Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
HKSE:01631 vs CTAS, CPRT, GPN: Current Ratio Comparison
For the Specialty Business Services subindustry, REF Holdings's Current Ratio, along with its competitors' market caps and Current Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
REF Holdings Current Ratio vs Business Services Industry
For the Business Services industry and Industrials sector, REF Holdings's Current Ratio distribution charts can be found below:
* The bar in red indicates where REF Holdings's Current Ratio falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
REF Holdings (HKSE:01631) has a Current Ratio of 2.66 as of Dec. 2025. This is 21% below median its historical median of 3.35. Over the past decade, REF Holdings' Current Ratio has ranged from 2.61 to 4.69. According to the industry distribution chart, REF Holdings ranks #322 out of 1096 companies in the Business Services industry, placing it in the top 29.4%.
Is REF Holdings' Current Ratio too high?
REF Holdings' current Current Ratio of 2.66 is 21% below median its 10-year median of 3.35. Over the past 10 years, this metric has ranged from a low of 2.61 to a high of 4.69. The Business Services industry median Current Ratio is 1.84. REF Holdings' value of 2.66 is 45% above this industry median. Based on the distribution chart, REF Holdings ranks #322 out of 1096 companies in the Business Services industry, which is above the industry midpoint. Overall, REF Holdings has a GF Score™ of 50/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does REF Holdings' Current Ratio compare to CTAS and CPRT?
According to the Business Services industry distribution chart, REF Holdings ranks #322 out of 1096 companies for Current Ratio. This puts REF Holdings in the upper half of its industry. The industry median Current Ratio is 1.84. REF Holdings' value of 2.66 is 45% above this benchmark. Historically, REF Holdings' own Current Ratio has ranged from 2.61 to 4.69 over the past decade. While the company's 10-year median is 3.35 vs. the industry median of 1.84, REF Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Current Ratio for a Business Services company?
The median Current Ratio among Business Services companies is 1.84, based on 1,096 companies in the industry. Companies in the top quartile (top 25%) have a Current Ratio significantly above this median, while those in the bottom quartile fall well below. However, Current Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. REF Holdings's current Current Ratio of 2.66 is 45% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Current Ratio mean?
A high Current Ratio can signal that a stock is expensive relative to its fundamentals. For the Business Services industry, the median Current Ratio is 1.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. REF Holdings's current Current Ratio is 2.66, which is 21% below median its own 10-year median of 3.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is REF Holdings stock overvalued right now?
Based on GuruFocus' analysis, REF Holdings (HKSE:01631) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.23, compared to a current price of HK$1.37 — trading 495.7% above its estimated fair value. The current Current Ratio is 2.66, which is 21% below median its 10-year median of 3.35 and 45% above the Business Services industry median of 1.84. REF Holdings' overall GF Score™ is 50/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Current Ratio calculated?
Current Ratio is calculated from a company's financial statements. For REF Holdings (HKSE:01631), the current Current Ratio is 2.66 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is REF Holdings (HKSE:01631) Overvalued in 2026?
Based on GuruFocus' analysis, REF Holdings stock appears to be overvalued.
The current stock price of HK$1.37 is trading 495.7% above its estimated GF Value™ of HK$0.23.
GuruFocus considers REF Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:01631:
Current Ratio: 2.66 (21% below median its 10-year median of 3.35)
GF Value™: HK$0.23 vs. price of HK$1.37 (495.7% above fair value)
Industry Position: 45% above the Business Services median (#322 of 1096)
No single metric tells the full story. See the HKSE:01631 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
REF Holdings Ltd provides financial printing, which comprises cover printing of listing documents, financial reports, compliance documents, and other documents. The convenient financial printing services include typesetting, proofreading, translation, design, printing, web submission, media placement, and distribution. The services of the group can be categorized into printing, translation, and media placement. The company generates revenue from the provision of financial printing services and investment holdings.
50GF Score
Get the complete analysis for HKSE:01631
Current Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
HKSE:01631 has been successfully added to your 
