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REF HoldingsHKSE:01631 48 EBITDA Margin % is 19.96% as of Dec. 2025, which is 32% below its 10-year median of 29.51. GuruFocus rates HKSE:01631 with a GF Score™ of 48/100 and a GF Value™ of HK$0.23 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,070 Business Services companies, REF Holdings ranks better than 78.79% on this metric.
EBITDA Margin % is calculated as EBITDA divided by its Revenue. REF Holdings's EBITDA for the
six
months ended in Dec. 2025 was HK$7.77 Mil. REF Holdings's Revenue for the
six
months ended in Dec. 2025 was HK$38.95 Mil. Therefore, REF Holdings's EBITDA margin for the quarter that ended in Dec. 2025 was 19.96%.
EBITDA Margin % is the ratio of EBITDA divided by net sales or Revenue. It is an performance metric measuring company's operating profitability. EBITDA Margin takes depreciation and amortization, interest expense and tax into account, which makes it easy to compare the relative profitability of companies of different sizes in the same industry.
REF Holdings EBITDA Margin % Related Terms
REF Holdings EBITDA Margin % Historical Data
* Premium members only.
The historical data trend for REF Holdings's EBITDA Margin % 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, ULS: EBITDA Margin % Comparison
For the Specialty Business Services subindustry, REF Holdings's EBITDA Margin %, along with its competitors' market caps and EBITDA Margin % 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 EBITDA Margin % vs Business Services Industry
For the Business Services industry and Industrials sector, REF Holdings's EBITDA Margin % distribution charts can be found below:
* The bar in red indicates where REF Holdings's EBITDA Margin % 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 EBITDA Margin % of 19.96% as of Dec. 2025. EBITDA Margin is the ratio of EBITDA divided by net sales or Revenue, usually presented in percent. View historical data on REF Holdings and its competitors. This is 32% below median its historical median of 29.51. Over the past decade, REF Holdings' EBITDA Margin % has ranged from 21.94 to 33.32. According to the industry distribution chart, REF Holdings ranks #227 out of 1070 companies in the Business Services industry, placing it in the top 21.2%.
Is REF Holdings' EBITDA Margin % too high?
REF Holdings' current EBITDA Margin % of 19.96% is 32% below median its 10-year median of 29.51. Over the past 10 years, this metric has ranged from a low of 21.94 to a high of 33.32. The Business Services industry median EBITDA Margin % is 10.83. REF Holdings' value of 19.96% is 84.3% above this industry median. Based on the distribution chart, REF Holdings ranks #227 out of 1070 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, REF Holdings has a GF Score™ of 48/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does REF Holdings' EBITDA Margin % compare to CTAS and CPRT?
According to the Business Services industry distribution chart, REF Holdings ranks #227 out of 1070 companies for EBITDA Margin %. This places REF Holdings in the top 21% of its industry — outperforming the majority of peers. The industry median EBITDA Margin % is 10.83. REF Holdings' value of 19.96% is 84.3% above this benchmark. Historically, REF Holdings' own EBITDA Margin % has ranged from 21.94 to 33.32 over the past decade. While the company's 10-year median is 29.51 vs. the industry median of 10.83, 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 EBITDA Margin % for a Business Services company?
The median EBITDA Margin % among Business Services companies is 10.83, based on 1,070 companies in the industry. Companies in the top quartile (top 25%) have a EBITDA Margin % significantly above this median, while those in the bottom quartile fall well below. However, EBITDA Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. REF Holdings's current EBITDA Margin % of 19.96% is 84.3% 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 EBITDA Margin % mean?
A high EBITDA Margin % can signal that a stock is expensive relative to its fundamentals. EBITDA Margin is the ratio of EBITDA divided by net sales or Revenue, usually presented in percent. View historical data on REF Holdings and its competitors. For the Business Services industry, the median EBITDA Margin % is 10.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. REF Holdings's current EBITDA Margin % is 19.96%, which is 32% below median its own 10-year median of 29.51. 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$1.40 — trading 508.7% above its estimated fair value. The current EBITDA Margin % is 19.96%, which is 32% below median its 10-year median of 29.51 and 84.3% above the Business Services industry median of 10.83. REF Holdings' overall GF Score™ is 48/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBITDA Margin % calculated?
EBITDA Margin % is calculated from a company's financial statements. For REF Holdings (HKSE:01631), the current EBITDA Margin % is 19.96% 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$1.40 is trading 508.7% above its estimated GF Value™ of HK$0.23.
GuruFocus considers REF Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:01631:
EBITDA Margin %: 19.96% (32% below median its 10-year median of 29.51)
GF Value™: HK$0.23 vs. price of HK$1.40 (508.7% above fair value)
Industry Position: 84.3% above the Business Services median (#227 of 1070)
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.
48GF Score
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EBITDA Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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