Frieslandcampina Engro Pakistan Limited (FCEPL) financial ratios

Frieslandcampina Engro Pakistan Limited earned a net margin of 2.6% in FY2025 against a five-year average of 2.6% (Food & Personal Care Products median 3.0%). Return on equity was 16.1%, compared with a sector median of 12.0%. The current ratio stood at 1.03× and debt was 19.6% of equity. Cash took about 20 days to cycle through receivables, inventory and payables.

FY2025 vs the Food & Personal Care Products median

Gross margin: 16.7%; Sector median 20.8%
Operating margin: 7.4%; Sector median 7.3%
Net margin: 2.6%; Sector median 3.0%
Return on equity (ROE): 16.1%; Sector median 12.0%
Return on assets (ROA): 6.8%; Sector median 4.5%
Current ratio: 1.03×; Sector median 1.21×
Debt to equity: 19.6%; Sector median 31.9%
Asset turnover: 2.64×; Sector median 1.30×
Dividend payout ratio: 99.7%; Sector median 8.4%

Median of the 25 companies in the sector with the figure for their latest fiscal year.

FCEPL financial ratios (annual) (Rs mn)
Rs mn	FY2025 Jan – Dec 2025	FY2024 Jan – Dec 2024	FY2023 Jan – Dec 2023	FY2022 Jan – Dec 2022	FY2021 Jan – Dec 2021	FY2020 Jan – Dec 2020	FY2019 Jan – Dec 2019	FY2018 Jan – Dec 2018	FY2017 Jan – Dec 2017	FY2016 Jan – Dec 2016	FY2015 * Jan – Dec 2015	FY2014 * Jan – Dec 2014	FY2013 Jan – Dec 2013	FY2012 Jan – Dec 2012	FY2011 * Jan – Dec 2011	FY2010 * Jan – Dec 2010	FY2009 Jan – Dec 2009	FY2008 Jan – Dec 2008	FY2007 Jan – Dec 2007	FY2006 Jan – Dec 2006
Profitability
Gross margin	16.7%	15.9%	14.4%	16.5%	17.0%	13.7%	13.4%	15.9%	16.3%	23.0%	23.1%	18.0%	21.5%	25.7%	22.2%	21.0%	17.1%	12.8%	7.2%	(2.1%)
EBITDA margin	9.6%	8.3%	6.5%	7.9%	9.7%	7.6%	5.4%	6.4%	7.9%	13.3%	13.9%	9.4%	9.4%	14.3%	11.0%	18.5%	(1.0%)	(6.2%)	(23.4%)	(42.2%)
Operating margin	7.4%	6.2%	4.6%	5.6%	5.3%	2.5%	(0.5%)	0.4%	2.4%	8.9%	9.9%	5.0%	5.4%	11.2%	7.7%	15.1%	(1.0%)	(6.2%)	(23.4%)	(42.2%)
Pre-tax margin	6.5%	3.3%	3.0%	5.4%	5.0%	0.6%	(2.8%)	(0.5%)	1.6%	8.0%	8.6%	1.2%	3.1%	9.8%	4.6%	1.3%	(4.5%)	(10.5%)	(26.3%)	(43.7%)
Net margin	2.6%	2.1%	1.5%	3.4%	3.5%	0.4%	(2.5%)	0.2%	1.1%	5.4%	6.3%	2.1%	2.3%	6.5%	3.0%	1.4%	(3.0%)	(6.8%)	(17.1%)	(28.4%)
Effective tax rate	60.2%	38.4%	49.5%	37.6%	30.1%	33.9%	—	—	32.6%	32.2%	26.4%	(79.8%)	25.8%	33.8%	34.6%	(9.7%)	—	—	—	—
Returns
Return on equity (ROE)	16.1%	14.4%	11.2%	21.4%	19.1%	2.1%	(10.8%)	0.7%	2.8%	14.9%	23.9%	8.0%	8.4%	30.1%	14.4%	7.0%	(14.2%)	(27.2%)	(49.7%)	—
Return on assets (ROA)	6.8%	5.3%	3.9%	8.0%	7.2%	0.8%	(4.1%)	0.3%	1.6%	9.4%	12.2%	3.6%	3.7%	13.4%	6.1%	2.8%	(5.3%)	(9.5%)	(19.6%)	—
Return on invested capital (ROIC)	16.2%	24.2%	19.3%	20.8%	15.4%	6.6%	—	—	4.1%	13.0%	18.1%	15.2%	7.7%	20.2%	13.3%	11.8%	—	—	—	—
Liquidity
Current ratio	1.03×	0.96×	0.97×	1.05×	1.06×	1.06×	0.92×	1.09×	1.20×	1.92×	1.50×	1.27×	1.68×	2.11×	1.82×	1.48×	1.26×	1.96×	1.38×	0.92×
Quick ratio	0.42×	0.52×	0.54×	0.67×	0.71×	0.65×	0.55×	0.67×	0.73×	1.07×	0.98×	0.67×	0.88×	1.20×	0.90×	0.48×	0.53×	0.81×	0.94×	0.51×
Leverage
Debt to equity	19.6%	12.7%	13.3%	23.8%	56.0%	74.9%	77.1%	66.4%	61.5%	13.2%	38.7%	81.3%	77.8%	77.7%	87.7%	94.3%	105.7%	109.9%	143.8%	45.4%
Debt to capital	16.4%	11.3%	11.7%	19.3%	35.9%	42.8%	43.5%	39.9%	38.1%	11.6%	27.9%	44.8%	43.8%	43.7%	46.7%	48.5%	51.4%	52.4%	59.0%	31.2%
Debt to assets	8.9%	5.0%	4.5%	8.7%	21.3%	27.5%	27.4%	27.2%	26.9%	9.1%	22.0%	36.6%	34.4%	35.1%	38.0%	38.8%	39.6%	41.0%	44.4%	26.5%
Assets to equity	2.37×	2.73×	2.85×	2.69×	2.67×	2.77×	2.61×	2.36×	1.75×	1.59×	1.96×	2.24×	2.24×	2.25×	2.36×	2.53×	2.68×	2.87×	2.53×	—
Efficiency
Asset turnover	2.64×	2.56×	2.62×	2.37×	2.07×	1.88×	1.68×	1.44×	1.48×	1.72×	1.92×	1.70×	1.63×	2.07×	2.05×	1.95×	1.80×	1.40×	1.15×	—
Receivable days days	27	35	38	42	45	48	54	59	52	49	41	34	25	15	13	12	17	37	47	—
Inventory days days	46	45	41	39	38	39	43	47	50	46	40	44	49	45	45	44	43	49	37	—
Payable days days	52	72	69	62	54	55	57	51	29	15	22	27	20	22	—	—	36	36	50	—
Cash conversion cycle days	20	8	10	18	29	32	40	55	73	79	59	51	54	37	58	56	25	50	34	—
Dividends
Dividend payout ratio	99.7%	97.4%	0.0%	0.0%	0.0%	0.0%	—	480.8%	80.8%	321.2%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	—	—
Earnings retention rate	0.00×	0.03×	1.00×	1.00×	1.00×	1.00×	—	(3.81×)	0.19×	(2.21×)	1.00×	1.00×	1.00×	1.00×	1.00×	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.

FCEPL: frequently asked questions

What is FCEPL's EPS?

Frieslandcampina Engro Pakistan Limited reported basic earnings per share of Rs 3.51 for FY2025 (Jan – Dec 2025). Over the trailing twelve months (TTM to Jun 2026) EPS was Rs 7.52.

What is FCEPL's P/E ratio?

At the closing price of Rs 133.39 on 16 Oct 2026, FCEPL trades at a P/E of 17.7× based on EPS of Rs 7.52 (TTM to Jun 2026).

Does FCEPL pay dividends?

Yes. Frieslandcampina Engro Pakistan Limited declared a dividend of Rs 3.50 per share for FY2025. It has paid a dividend in each of the last 2 years. At Rs 133.39 that is a dividend yield of 2.6%.

What was FCEPL's revenue and profit in FY2025?

Frieslandcampina Engro Pakistan Limited reported revenue of Rs 104.5 bn and profit attributable to shareholders of Rs 2.7 bn for FY2025 (Jan – Dec 2025).

What is FCEPL's book value per share?

Frieslandcampina Engro Pakistan Limited's book value per share was Rs 22.13 at the end of FY2025. The shares trade at 5.47× book value.

Information only, not investment advice.