First Equity Modaraba (FEM) financial ratios

Return on equity was -28.8%, compared with a sector median of 4.1%. The current ratio stood at 5.34× and debt was — of equity. Cash took about -540 days to cycle through receivables, inventory and payables.

FY2025 vs the Modarabas median

Return on equity (ROE): -28.8%; Sector median 4.1%
Return on assets (ROA): -16.1%; Sector median 1.9%

Median of the 20 companies in the sector with the figure for their latest fiscal year.

FEM financial ratios (annual) (Rs mn)
Rs mn	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016
Profitability
Pre-tax margin	—	—	—	70.4%	63.5%	(47.2%)	(2.2%)	(9.1%)	(31.5%)	(117.0%)
Net margin	—	—	—	39.3%	62.6%	(56.3%)	(3.0%)	(5.6%)	(28.0%)	(139.8%)
Effective tax rate	—	—	—	44.2%	1.4%	—	—	—	—	—
Returns
Return on equity (ROE)	(28.8%)	(54.1%)	(23.6%)	17.9%	31.2%	(4.6%)	(0.4%)	(0.7%)	(2.8%)	—
Return on assets (ROA)	(16.1%)	(29.5%)	(14.2%)	11.0%	18.5%	(2.1%)	(0.2%)	(0.3%)	(1.4%)	—
Leverage
Debt to equity	—	52.7%	—	20.2%	—	20.8%	40.0%	48.7%	51.3%	61.5%
Debt to capital	—	34.5%	—	16.8%	—	17.2%	28.6%	32.7%	33.9%	38.1%
Debt to assets	—	23.7%	—	10.9%	—	10.0%	17.2%	22.5%	24.6%	29.8%
Assets to equity	1.79×	1.83×	1.66×	1.62×	1.69×	2.20×	2.24×	2.12×	2.08×	—
Dividends
Dividend payout ratio	—	—	—	12.9%	0.0%	—	—	—	—	—
Earnings retention rate	—	—	—	0.87×	1.00×	—	—	—	—	—

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

FEM: frequently asked questions

What is FEM's EPS?

First Equity Modaraba reported basic earnings per share of Rs -4.43 for FY2025 (Jul 2024 – Jun 2025). Over the trailing twelve months (TTM to Mar 2026) EPS was Rs -3.98.

Does FEM pay dividends?

First Equity Modaraba did not declare a cash dividend for FY2025.

What was FEM's revenue and profit in FY2025?

First Equity Modaraba reported revenue of -Rs 141.2 mn and profit attributable to shareholders of -Rs 232.2 mn for FY2025 (Jul 2024 – Jun 2025).

What is FEM's book value per share?

First Equity Modaraba's book value per share was Rs 11.69 at the end of FY2025. The shares trade at 1.02× book value.

Information only, not investment advice.