Dickson Concepts (International) (0113) AI Stock Analysis

• Market Cap: HK$2.19B
• Dividend Yield: 7.71%
• Average Volume (3M): 115.91K
• Price to Earnings (P/E): 10.1
• Beta (1Y): 0.23
• Revenue Growth: -7.48%
• EPS Growth: -16.11%
• Country: HK
• Employees: 618
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Luxury Goods
• EPS (TTM): 0.39
• Shares Outstanding: 386,059,300
• 10 Day Avg. Volume: 94,837
• 30 Day Avg. Volume: 115,909
• PEG Ratio: -0.22
• Price to Book (P/B): 0.54
• Price to Sales (P/S): 0.99
• P/FCF Ratio: -8.85
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 72 Outperform
• Price Target: HK$6.50 ▲(18.18% Upside)

Dickson Concepts' stock is supported by strong valuation metrics and technical indicators, despite financial performance concerns due to declining revenue and negative cash flow. The robust balance sheet and high dividend yield are significant positives.

Positive Factors

Strong Balance Sheet

A strong balance sheet with low leverage and high equity ratio indicates financial stability, providing resilience against market fluctuations.

Operational Efficiency

High profit margins reflect efficient operations, suggesting the company can sustain profitability even amid revenue challenges.

Strategic Market Expansion

Expansion into emerging markets positions the company to capture growing demand for luxury goods, supporting long-term revenue growth.

Negative Factors

Declining Revenue

A significant revenue decline indicates potential market share loss or reduced demand, challenging future growth prospects.

Negative Cash Flow

Negative cash flow suggests cash management issues, potentially limiting the company's ability to invest in growth opportunities.

Revenue Growth Challenges

Negative revenue growth challenges the company's ability to maintain its market position and could impact long-term profitability.

Dickson Concepts (International) Business Overview & Revenue Model

Company Description

Dickson Concepts (International) Limited, an investment holding company, sells luxury goods. It operates in two segments, Sale of Luxury Goods and Securities Investment. The company sells fashion and accessories, watches and jewelry, cosmetics and beauty products, lighters, writing instruments, leather goods, and luxury goods. It also provides interior design, management consultancy and professional, services and operation of warehouses, trademarks agency, and import services. In addition, the company engages in the securities and property investment activities; arrangement of property tenancy agreements; and operation of Harvey Nichols, Beauty Avenue, and Beauty Bazaar stores. It operates 60 stores comprising 7 stores in Hong Kong, 30 stores in China, and 23 stores in Taiwan. The company was founded in 1980 and is headquartered in Tsim Sha Tsui, Hong Kong. Dickson Concepts (International) Limited is a subsidiary of Dickson Investment Holding (PTC) Corporation.

How the Company Makes Money

Dickson Concepts generates revenue through multiple streams, primarily from the retail sales of luxury fashion and lifestyle products. The company operates a network of retail outlets, including flagship stores and boutiques, which showcase a curated selection of high-end brands. Additionally, it engages in wholesale distribution, supplying products to other retailers and outlets. Key revenue streams include direct sales from stores, online sales through e-commerce platforms, and wholesale partnerships with luxury brands. The company's strong relationships with these brands enable it to secure exclusive distribution rights, enhancing its competitive edge and profitability. Furthermore, its strategic focus on expanding into emerging markets contributes to revenue growth as demand for luxury goods continues to rise in these regions.

Dickson Concepts (International) Financial Statement Overview

Summary

Dickson Concepts shows strong operational efficiency with solid profit margins despite declining revenue. The balance sheet is robust with low leverage and strong equity, but cash flow issues, particularly negative free cash flow, are concerning.

Income Statement

Dickson Concepts showed a decline in revenue from $2.4 billion to $1.9 billion, leading to a negative revenue growth rate. However, the company maintained a solid gross profit margin of 44.7% and a net profit margin of 10.3% for the latest year. Both EBIT and EBITDA margins are reasonably strong at 14.0% and 19.5%, respectively, indicating efficient operations despite the revenue downturn. Overall, the income statement reflects operational efficiency but a need to reverse the revenue decline.

Balance Sheet

The company exhibits a strong equity position with a debt-to-equity ratio of 0.27 and a high equity ratio of 72.4%. The return on equity stands at 5.6%, showing modest profitability from equity. The balance sheet is robust, with significant cash reserves and a low leverage profile, suggesting financial stability and resilience.

Cash Flow

The company's free cash flow turned negative in the latest year, dropping from $361.2 million to -$213.8 million, indicating cash management challenges. The operating cash flow to net income ratio is negative, highlighting issues in converting income into cash flow. Despite past strong cash flow performance, the latest figures suggest a need for improved cash management strategies.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.92B	1.92B	2.40B	2.13B	2.02B	2.28B
Gross Profit	859.10M	859.10M	1.10B	996.11M	947.04M	975.93M
EBITDA	314.96M	374.08M	553.97M	453.35M	398.04M	660.15M
Net Income	198.01M	198.01M	350.77M	252.64M	200.94M	461.82M
Balance Sheet
Total Assets	4.88B	4.88B	5.36B	5.60B	5.81B	5.44B
Cash, Cash Equivalents and Short-Term Investments	4.02B	4.02B	4.12B	3.55B	3.36B	3.48B
Total Debt	963.33M	963.33M	1.31B	1.70B	1.95B	1.64B
Total Liabilities	1.35B	1.35B	1.79B	2.21B	2.51B	2.20B
Stockholders Equity	3.53B	3.53B	3.57B	3.39B	3.30B	3.24B
Cash Flow
Free Cash Flow	359.59M	-213.83M	361.22M	378.15M	426.54M	765.01M
Operating Cash Flow	384.52M	-188.90M	385.64M	426.56M	467.20M	787.63M
Investing Cash Flow	539.22M	623.04M	606.44M	104.31M	-585.53M	-74.19M
Financing Cash Flow	-591.21M	-618.14M	-666.91M	-591.63M	-107.50M	-774.98M

Dickson Concepts (International) Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0113, the sentiment is Positive. The current price of 5.5 is below the 20-day moving average (MA) of 5.57, above the 50-day MA of 5.49, and below the 200-day MA of 5.51, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 56.31 is Neutral, neither overbought nor oversold. The STOCH value of 57.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0113.

Dickson Concepts (International) Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0887	77 Outperform	HK$2.14B	7.82	5.10%	4.05%	6.60%	-14.32%
0590	73 Outperform	HK$18.87B	14.69	9.54%	4.43%	10.89%	2.02%
0113	72 Outperform	HK$2.19B	10.13	5.92%	7.71%	-7.48%	-16.11%
1929	64 Neutral	HK$142.06B	24.23	23.74%	4.21%	-9.49%	32.56%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
0116	61 Neutral	HK$9.85B	8.35	9.13%	4.60%	-10.41%	67.25%
0256	48 Neutral	HK$731.12M	-2.41	-7.92%	―	-18.07%	-1041.89%

Dickson Concepts (International) Corporate Events

Dickson Concepts Announces Special Interim Dividend

Dickson Concepts (International) Limited has announced a special interim dividend of HKD 0.2 per share for the six months ending September 30, 2025. This announcement reflects the company’s financial health and commitment to returning value to its shareholders. The dividend will be paid on January 21, 2026, with a record date of January 7, 2026. This move may enhance the company’s attractiveness to investors and strengthen its position in the luxury retail market.

The most recent analyst rating on (HK:0113) stock is a Hold with a HK$5.50 price target. To see the full list of analyst forecasts on Dickson Concepts (International) stock, see the HK:0113 Stock Forecast page.

Dickson Concepts Reports Growth Amidst Market Challenges

Dickson Concepts (International) reported a modest increase in turnover and a significant rise in net profit for the six months ending September 2025, despite challenging market conditions in Hong Kong and Taiwan. The company declared both an interim and special dividend to celebrate its 45th anniversary. While the Hong Kong and Taiwan markets faced declines due to consumer behavior shifts and economic conditions, the company saw substantial growth in China. The company remains cautious about future prospects in Hong Kong due to ongoing structural shifts in consumer behavior and external economic factors.

The most recent analyst rating on (HK:0113) stock is a Hold with a HK$5.50 price target. To see the full list of analyst forecasts on Dickson Concepts (International) stock, see the HK:0113 Stock Forecast page.

Dickson Concepts Announces Interim Dividend for 2025

Dickson Concepts (International) Limited has announced an interim dividend of HKD 0.1 per share for the six months ending September 30, 2025. The dividend will be paid on January 21, 2026, with a record date of January 7, 2026. This announcement reflects the company’s ongoing commitment to providing returns to its shareholders and may influence its market positioning by reinforcing investor confidence.

The most recent analyst rating on (HK:0113) stock is a Hold with a HK$5.50 price target. To see the full list of analyst forecasts on Dickson Concepts (International) stock, see the HK:0113 Stock Forecast page.

Dickson Concepts Schedules Board Meeting for Interim Results and Dividend Decision

Dickson Concepts (International) Limited has announced a board meeting scheduled for November 27, 2025, to discuss and approve the interim results for the six months ending September 30, 2025, and to consider the payment of an interim dividend. This announcement could impact the company’s financial strategy and shareholder returns, reflecting its operational performance and market positioning.

The most recent analyst rating on (HK:0113) stock is a Hold with a HK$5.50 price target. To see the full list of analyst forecasts on Dickson Concepts (International) stock, see the HK:0113 Stock Forecast page.

Leadership Changes and Strategic Focus at Dickson Concepts

Dickson Concepts (International) Limited announced the retirement of its Group Executive Chairman, Sir Dickson Poon, who will now focus on new investment opportunities as Chairman of the Investment Committee. The company is adapting to the evolving retail landscape by pursuing diversification and strategic growth, with Mr. Poon Dickson Pearson Guanda and Mr. Johnny Chan taking on new leadership roles to guide the company’s future direction.

The most recent analyst rating on (HK:0113) stock is a Hold with a HK$5.50 price target. To see the full list of analyst forecasts on Dickson Concepts (International) stock, see the HK:0113 Stock Forecast page.