Rafael Holdings, Inc. (NYSE: RFL)

Sector: Real Estate Industry: Real Estate Services CIK: 0001713863
Market Cap 42.37 Mn
P/B 0.50
P/E -1.35
P/S 41.17
ROIC (Qtr) -38.89
Div Yield % 0.00
Rev 1y % (Qtr) 87.50
Total Debt (Qtr) 664,000.00
Debt/Equity (Qtr) 0.01
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About

Rafael Holdings, Inc. (RFL) is a company that operates in the healthcare and real estate industries. Its main business activities include investments in clinical and early-stage pharmaceutical companies, development of medical devices, and ownership of real estate assets. The company's pharmaceutical segment includes Cornerstone Pharmaceuticals, Inc., a clinical stage cancer metabolism-based therapeutics company, and LipoMedix Pharmaceuticals Ltd., a clinical stage Israeli company that develops a product candidate, Promitil. Cornerstone Pharmaceuticals...

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Investment thesis

Bull case

  • Healthy cash reserves of 45.54M provide 74.90x coverage of short-term debt 608000, demonstrating strong liquidity position and minimal refinancing risk.
  • Robust free cash flow of (22.60M) exceeds capital expenditure of (85000) by 265.92x, indicating strong organic growth funding capability.
  • Strong tangible asset base of 84.47M provides 127.22x coverage of total debt 664000, indicating robust asset backing and low credit risk.
  • Cash position of 45.54M provides exceptional 450.88x coverage of minority interest expenses 101000, indicating strong liquidity.
  • Long-term investments of 2.36M provide solid 42.11x coverage of long-term debt 56000, indicating strategic financial planning.

Bear case

  • Operating cash flow of (22.69M) barely covers its investment activities of 35.03M, with a coverage ratio of -0.65, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Cash reserves of 45.54M provide limited coverage of acquisition spending of (13.71M), which is -3.32x, suggesting aggressive expansion might strain liquidity if market conditions deteriorate.
  • The company's operating cash flow of (22.69M) shows concerning coverage of stock compensation expenses of 2.36M, with a -9.61 ratio indicating potential earnings quality issues.
  • Operating earnings of (33.23M) show weak coverage of depreciation charges of 252000, with a -131.86 ratio indicating high capital intensity and potential reinvestment needs.
  • Operating cash flow of (22.69M) barely covers operating expenses of 2.99M with a -7.59 ratio, suggesting thin operational efficiency margins and limited flexibility.

Related and Nonrelated Parties Breakdown of Revenue (2025)

Segments Breakdown of Revenue (2025)

Peer comparison

Companies in the Real Estate Services
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 CBRE Cbre Group, Inc. 42.12 Bn 36.40 1.04 9.99 Bn
2 BEKE KE Holdings Inc. 19.37 Bn 39.77 1.33 2.96 Bn
3 CSGP Costar Group, Inc. 18.57 Bn 914.80 6.08 1.18 Bn
4 JLL Jones Lang Lasalle Inc 13.60 Bn 21.53 0.54 3.48 Bn
5 FSV FirstService Corp 7.02 Bn 48.37 1.28 1.38 Bn
6 CIGI Colliers International Group Inc. 5.59 Bn 54.27 1.01 2.29 Bn
7 COMP Compass, Inc. 5.18 Bn -91.82 0.78 0.48 Bn
8 OPEN Opendoor Technologies Inc. 3.12 Bn -9.84 0.66 1.79 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets -0.09 1.18
EV to Cash from Ops. EV/CFO 0.43 -6.57
EV to Debt EV to Debt -14.62 5.19
EV to EBIT EV/EBIT 0.29 4.86
EV to EBITDA EV/EBITDA 0.28 13.56
EV to Free Cash Flow [EV/FCF] EV/FCF 0.43 -11.14
EV to Market Cap EV to Market Cap -0.23 7.70
EV to Revenue EV/Rev -9.44 3.49
Price to Book Value [P/B] P/B 0.50 1.76
Price to Earnings [P/E] P/E -1.35 40.59
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 0.36
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 -7.05
Dividend per Basic Share Div per Share (Qtr) 0.00 0.22
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 0.46
Interest Coverage Int. cover (Qtr) -50.65 -2.20
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 157.05 -12,527.01
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 458.14 24.62
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 1.26
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 22.01 10.86
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 66.34 33.08
EBIT Growth (1y) % EBIT 1y % (Qtr) 20.96 19.37
EBT Growth (1y) % EBT 1y % (Qtr) 20.18 28.48
EPS Growth (1y) % EPS 1y % (Qtr) 46.99 29.29
FCF Growth (1y) % FCF 1y % (Qtr) -155.11 67.74
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 82.41 33.25
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.01 1.44
Cash Payout Ratio Cash Payout (Qtr) 0.00 -0.01
Cash Ratio Cash Ratio (Qtr) 3.77 1.45
Current Ratio Curr Ratio (Qtr) 4.00 2.16
Debt to Equity Ratio Debt/Equity (Qtr) 0.01 -0.07
Interest Cover Ratio Int Coverage (Qtr) -50.65 -2.20
Times Interest Earned Times Interest Earned (Qtr) -50.65 -2.20
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -3,204.80 -120.34
EBIT Margin % EBIT Margin % (Qtr) -3,229.25 -135.17
EBT Margin % EBT Margin % (Qtr) -3,293.00 -142.98
Gross Margin % Gross Margin % (Qtr) 89.70 32.99
Net Profit Margin % Net Margin % (Qtr) -3,044.70 -138.31