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Saturday 7 November 2026
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Lichen International Limited
LICN Industrials Specialty Business Services
Lichen International Limited’s revenue for fiscal 2025 (year ended December 2025) was $24.5 million, down 40.9% from fiscal 2024.
0.51
0.08
−13.56%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | 26 | — | 32 | 31 | 34 | 34 | 40 | 41 | 25 | — | (0.5%) | — | — | — | — | |
| Gross margin, % | — | 71.28 | — | 61.21 | 61.42 | 59.70 | 59.73 | 61.17 | 61.90 | 37.27 | — | (34.0) pt | ||||||
| EBT | — | 9 | — | 10 | 9 | 12 | 11 | 12 | (4) | (22) | — | n/m | ||||||
| EBT margin, % | — | 36.60 | — | 30.80 | 29.33 | 33.57 | 31.78 | 29.15 | (10.06) | (88.86) | — | (125.5) pt | ||||||
| Net income | — | 7 | — | 7 | 6 | 8 | 8 | 8 | (6) | (22) | (36) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | 0.00 | — | 1.10 | 1.07 | 304.84 | 300.49 | 304.90 | 235.80 | 4.62 | — | n/m | |||||
| Earnings | — | 650.54 | — | 0.25 | 0.22 | 75.22 | 70.00 | 64.00 | (34.79) | (4.11) | — | n/m | ||||||
| Cash flow | — | 0.00 | — | 0.47 | 0.29 | 64.92 | 95.70 | 4.27 | (31.68) | (3.37) | 0.00 | n/m | ||||||
| Capex | — | — | — | 0.00 | 0.00 | 4.99 | (25.26) | (40.39) | (0.20) | 0.00 | 0.00 | n/m | ||||||
| Free cash flow | — | 0.00 | — | 0.47 | 0.29 | 69.91 | 70.44 | (36.12) | (31.88) | (3.37) | 0.00 | n/m | ||||||
| Book value | — | 0.00 | — | 0.83 | 0.96 | 327.40 | 365.41 | 471.01 | 429.59 | 13.31 | 0.00 | n/m | ||||||
| Shares, m | — | — | — | 29 | 29 | 0 | 0 | 0 | 0 | 5 | — | (24.6%) | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | — | — | — | — | — | |||||
| P/S | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| P/B | — | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| EV/Sales | — | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| EV/FCF | — | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | (1.95) | 3.53 | 1.04 | 0.75 | 0.3 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | 6 | — | 14 | 8 | 7 | 11 | 1 | (6) | (18) | (22) | n/m | |||||
| Capex | — | (4) | — | (11) | (1) | 1 | (3) | (5) | 0 | — | (4) | (49.8%) | ||||||
| Free cash flow | — | 6 | — | 14 | 8 | 8 | 8 | (5) | (6) | (18) | (26) | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | 8 | — | 2 | 6 | 18 | 22 | 36 | 30 | 31 | 20 | +19.5% | |||||
| Net debt | — | (5) | — | (5) | (8) | (16) | (23) | (26) | (27) | (27) | (20) | +23.4% | ||||||
| Shareholders’ equity | — | 19 | — | 24 | 28 | 37 | 41 | 61 | 76 | 71 | 61 | +18.2% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | 0.00 | — | 27.92 | 20.62 | 22.18 | 17.48 | 14.88 | (8.45) | (28.26) | 0.00 | (28.3) pt | |||||
| ROIC | — | 0.00 | — | 0.00 | 0.00 | 34.73 | 35.95 | 21.54 | (5.82) | (25.88) | 0.00 | (25.9) pt | ||||||
| ROE | — | 0.00 | — | 33.43 | 24.95 | 26.25 | 20.06 | 16.26 | (8.96) | (30.06) | 0.00 | (30.1) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | 394 | 399 | 406 | 452 | 410 | — | +1.0% | |||||
| Revenue/emp, $m | — | 0.00 | — | 0.00 | 0.00 | 0.09 | 0.08 | 0.10 | 0.09 | 0.06 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · fundamentals updated 2 Nov 2026
Lichen International Limited vs peers in Specialty Business Services (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| SST System1, Inc. | $18.6M | — (loss-making) | 23.1× | −61.34% (below 0%: shrinking) | n/m | −127.61% (below 0%: shrinking) | 80.38% | (27.45%) | Compare |
| ANPA Rich Sparkle Holdings Limited | $17.5M | — | — | — | — | — | — | — | Compare |
| WHLM Wilhelmina International, Inc. | $17.2M | 15.0× | 5.2× | −0.83% (below 0%: shrinking) | −60.00% (below 0%: shrinking) | −80.08% (below 0%: shrinking) | 100.00% | 2.22% | Compare |
| PMEC Primech Holdings Ltd. | $10.1M | — (loss-making) | — | +43.05% (above 0%: growing) | −200.00% (below 0%: shrinking) | +7.30% (above 0%: growing) | 5.80% | 0.00% | Compare |
| LICN Lichen International Limited | $9.7M | — | — | — | — | −574.31% (below 0%: shrinking) | — | — | |
| SGRP SPAR Group, Inc. | $8.2M | — (loss-making) | 9.7× | −4.46% (below 0%: shrinking) | n/m | +35.87% (above 0%: growing) | 22.78% | 3.28% | Compare |
| SFHG Samfine Creation Holdings Group Limited | $8.1M | — | — | — | — | — | — | — | Compare |
| THH TryHard Holdings Limited | $6.7M | — | — | — | — | — | — | — | Compare |
| CRE Cre8 Enterprise Limited | $4.9M | — | — | — | — | — | — | — | Compare |
| Median of peers | $9.1M | — | 9.7× | −2.64% | — | −36.39% | 51.58% | 1.11% |