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REF HoldingsHKSE:01631 50 Days Payable is 11.32 as of Dec. 2025, which is 47% below its 10-year median of 21.18. 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 949 Business Services companies, REF Holdings ranks worse than 87.46% on this metric.
The historical data trend for REF Holdings's Days Payable 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: Days Payable Comparison
For the Specialty Business Services subindustry, REF Holdings's Days Payable, along with its competitors' market caps and Days Payable 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 Days Payable vs Business Services Industry
For the Business Services industry and Industrials sector, REF Holdings's Days Payable distribution charts can be found below:
* The bar in red indicates where REF Holdings's Days Payable falls into.
Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.
REF Holdings's Days Payable for the fiscal year that ended in Dec. 2025 is calculated as
* 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 Days Payable of 11.32 as of Dec. 2025. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on REF Holdings and its competitors. This is 47% below median its historical median of 21.18. Over the past decade, REF Holdings' Days Payable has ranged from 6.69 to 36.05. According to the industry distribution chart, REF Holdings ranks #830 out of 949 companies in the Business Services industry, placing it in the top 87.5%.
Is REF Holdings' Days Payable too high?
REF Holdings' current Days Payable of 11.32 is 47% below median its 10-year median of 21.18. Over the past 10 years, this metric has ranged from a low of 6.69 to a high of 36.05. The Business Services industry median Days Payable is 46.31. REF Holdings' value of 11.32 is 75.6% below this industry median. Based on the distribution chart, REF Holdings ranks #830 out of 949 companies in the Business Services industry, which is in the bottom quartile relative to peers. 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' Days Payable compare to CTAS and CPRT?
According to the Business Services industry distribution chart, REF Holdings ranks #830 out of 949 companies for Days Payable. This places REF Holdings in the lower half of its industry. The industry median Days Payable is 46.31. REF Holdings' value of 11.32 is 75.6% below this benchmark. Historically, REF Holdings' own Days Payable has ranged from 6.69 to 36.05 over the past decade. While the company's 10-year median is 21.18 vs. the industry median of 46.31, REF Holdings has consistently been below 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 Days Payable for a Business Services company?
The median Days Payable among Business Services companies is 46.31, based on 949 companies in the industry. Companies in the top quartile (top 25%) have a Days Payable significantly above this median, while those in the bottom quartile fall well below. However, Days Payable should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. REF Holdings's current Days Payable of 11.32 is 75.6% below 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 Days Payable mean?
A high Days Payable can signal that a stock is expensive relative to its fundamentals. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on REF Holdings and its competitors. For the Business Services industry, the median Days Payable is 46.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. REF Holdings's current Days Payable is 11.32, which is 47% below median its own 10-year median of 21.18. 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 Days Payable is 11.32, which is 47% below median its 10-year median of 21.18 and 75.6% below the Business Services industry median of 46.31. 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 Days Payable calculated?
Days Payable is calculated from a company's financial statements. For REF Holdings (HKSE:01631), the current Days Payable is 11.32 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:
Days Payable: 11.32 (47% below median its 10-year median of 21.18)
GF Value™: HK$0.23 vs. price of HK$1.37 (495.7% above fair value)
Industry Position: 75.6% below the Business Services median (#830 of 949)
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
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