i-CABLE Communications (1097) AI Stock Analysis

• Market Cap: HK$420.94M
• Dividend Yield: N/A
• Average Volume (3M): 21.91M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.14
• Revenue Growth: -4.39%
• EPS Growth: 20.40%
• Country: HK
• Employees: 895
• Sector: Communication Services
• Sector Strength: 97
• Industry: Entertainment
• EPS (TTM): -0.03
• Shares Outstanding: 7,134,623,500
• 10 Day Avg. Volume: 49,368,839
• 30 Day Avg. Volume: 21,909,785
• PEG Ratio: 0.07
• Price to Book (P/B): -0.11
• Price to Sales (P/S): 0.36
• P/FCF Ratio: -0.64
• 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: 39 Underperform
• Price Target: HK$0.06 ▼(-44.00% Downside)
• Action: Downgraded Date: 01/30/26
• Date: Action: Downgraded 01/30/26

The score is driven down primarily by very weak financial performance (declining revenue, ongoing losses, negative equity, and negative operating cash flow). Technical signals are also broadly bearish with the price below key moving averages and negative MACD. Valuation provides limited offset because the negative P/E reflects continued losses and there is no dividend yield data.

Positive Factors

Diversified subscription and advertising revenue streams

Multiple recurring revenue lines (broadband, pay TV, telephony) plus advertising diversify cash inflows and reduce reliance on any single product. Over 2–6 months this supports steadier top-line resilience and predictability, aiding planning and service investment.

Owned content production and distribution capabilities

Control over content creation and distribution provides a strategic asset that supports customer retention, cross‑platform monetization, and bargaining power with distributors and advertisers. This structural capability can sustain differentiation and revenue levers over time.

Low historical market volatility (low beta)

A very low beta indicates the company’s operations are less correlated with market swings, reflecting stable demand for telecom/media services. Lower operating volatility aids long‑term financing access and operational planning, which is valuable during cyclical stress.

Negative Factors

Multi-year revenue decline

Sustained top‑line contraction erodes scale economics and makes it harder to cover fixed network and content costs. Over months this trend pressures margins, limits reinvestment, and weakens competitive position versus peers who can invest to grow share.

Persistent losses and negative margins

Ongoing unprofitability depletes retained earnings and constrains reinvestment in networks and content. Continued negative margins reduce ability to fund strategic initiatives internally and raise the probability of cost cuts or asset sales that can harm long‑term competitiveness.

Negative equity and weak operating cash flow (insolvency risk)

Negative shareholders’ equity combined with chronically negative operating cash flow signals balance sheet stress and potential insolvency. This materially limits financing options, raises funding costs, and threatens the company’s ability to sustain capital-intensive network and content obligations.

i-CABLE Communications Business Overview & Revenue Model

Company Description

i-CABLE Communications Limited, an investment holding company, provides integrated communications services in Hong Kong. The company operates through Media and Telecommunications segments. The Media segment offers television subscription, domestic free television program, advertising, channel carriage, television relay, program licensing, theatrical release, and other related services. The Telecommunications segment includes operations related to broadband internet access, portal operations, telephony, network leasing, network construction, and mobile agency services, as well as other related businesses. The company owns and operates wireline telecommunications network, which provides media and telecommunications services to approximately two million households. The company also produces television and multimedia content focusing on news, information, sports, and entertainment. In addition, it provides technical services; and film production, distribution, and licensing services. The company was incorporated in 1999 and is based in Tsuen Wan, Hong Kong.

How the Company Makes Money

i-CABLE Communications generates revenue through multiple streams, primarily from subscriptions to its broadband internet services, pay television packages, and telephony services. The company charges customers a monthly fee for its various service plans, which are tiered based on speed and content offerings. Additionally, i-CABLE earns income from advertising sales on its television channels and digital platforms, leveraging its audience reach to attract advertisers. Significant partnerships with content providers and telecom infrastructure suppliers also enhance its service offerings and drive revenue. The company may also engage in strategic collaborations that allow it to expand its content library and enhance its competitive position in the market, further contributing to its earnings.

i-CABLE Communications Financial Statement Overview

Summary

Financial statements indicate severe weakness: multi-year revenue decline, persistent losses with negative margins, negative shareholders’ equity since 2022 (insolvency risk), rising leverage, and negative operating cash flow with no free cash flow growth.

Income Statement

The company shows consistent revenue decline with a significant drop from 2019 to 2024. The net profit margin remains negative, indicating continuous losses. Gross profit margins are also negative, highlighting a lack of efficiency in cost management.

Balance Sheet

The balance sheet reveals a deteriorating financial position with negative stockholders' equity since 2022 and increasing debt levels. The debt-to-equity ratio is concerning, and the equity ratio is negative, indicating insolvency risks.

Cash Flow

Cash flow analysis shows an absence of free cash flow growth and negative operating cash flow over the years. The company's inability to generate positive cash flow from operations is a major concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	584.83M	584.49M	597.90M	895.20M	989.20M	1.07B
Gross Profit	-153.49M	-174.76M	-218.15M	-241.59M	-36.37M	56.49M
EBITDA	-293.40M	-325.18M	-306.06M	-218.93M	-20.14M	67.62M
Net Income	-515.23M	-553.34M	-589.27M	-885.72M	-363.65M	-275.39M
Balance Sheet
Total Assets	851.76M	882.52M	945.16M	879.49M	1.49B	1.61B
Cash, Cash Equivalents and Short-Term Investments	121.25M	80.01M	63.31M	81.67M	176.45M	157.42M
Total Debt	2.47B	2.28B	1.84B	1.18B	892.05M	773.47M
Total Liabilities	2.95B	2.76B	2.27B	1.62B	1.34B	1.24B
Stockholders Equity	-2.10B	-1.88B	-1.33B	-739.53M	146.09M	365.17M
Cash Flow
Free Cash Flow	-252.22M	-334.73M	-406.98M	-251.65M	-214.26M	1.57M
Operating Cash Flow	-188.26M	-221.19M	-287.25M	-88.91M	-58.80M	109.96M
Investing Cash Flow	-78.60M	-110.39M	-119.69M	-161.40M	-170.08M	-103.19M
Financing Cash Flow	271.95M	355.89M	394.19M	221.81M	141.50M	-91.30M

i-CABLE Communications Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.10
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1097, the sentiment is Negative. The current price of 0.1 is above the 20-day moving average (MA) of 0.06, above the 50-day MA of 0.08, and above the 200-day MA of 0.08, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 39.17 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1097.

i-CABLE Communications Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
0953	50 Neutral	HK$343.55M	5.52	0.29%	―	206.38%	―
1159	48 Neutral	HK$312.08M	0.36	―	―	-57.01%	―
0491	46 Neutral	HK$93.19M	-0.61	―	―	-2.81%	80.19%
1132	45 Neutral	HK$190.38M	0.25	24.24%	―	-7.90%	93.34%
8082	41 Neutral	HK$130.53M	-3.20	-374.96%	―	-60.87%	-61.34%
1097	39 Underperform	HK$420.94M	-0.31	―	―	-4.39%	20.40%

i-CABLE Communications Corporate Events

i-CABLE Communications Names Digital Media Veteran Wong Nga Fan as New CEO

i-CABLE Communications has announced a leadership reshuffle effective 29 January 2026, with Chief Executive Officer, executive director and authorised representative Mr. To Chi Hak stepping down for personal reasons, though he indicated no disagreement with the board and no issues requiring shareholder attention. Existing executive director Ms. Wong Nga Fan, a veteran of more than 25 years in multimedia, digital content and entertainment marketing, has been appointed CEO, while Dr. Luk Wai Ki Elvis becomes an authorised representative, signaling a strategic tilt toward leveraging Ms. Wong’s extensive digital media and social commerce experience to drive the group’s transformation and regional growth. Under her new service agreement, Ms. Wong will receive a fixed monthly salary and a one-off initial payment, along with performance-based discretionary bonuses, aligning her incentives with the company’s operational performance and market conditions.

The most recent analyst rating on (HK:1097) stock is a Hold with a HK$0.06 price target. To see the full list of analyst forecasts on i-CABLE Communications stock, see the HK:1097 Stock Forecast page.

i-CABLE Sets Out Board Composition and Committee Roles

i-CABLE Communications Limited has announced the current composition of its board of directors, led by non-executive chairman Dr. Cheng Kar-Shun, Henry, with Patrick Tsang serving as vice-chairman and executive director and Wong Nga Fan as chief executive officer and executive director, alongside a mix of other executive, non-executive and independent non-executive directors. The company has also detailed the membership and chairmanship of its three key board committees—Audit, Nomination and Compensation—clarifying which directors serve on each, a move that underscores its governance framework, transparency obligations as a listed entity, and the distribution of oversight responsibilities among independent and non-executive board members.

The most recent analyst rating on (HK:1097) stock is a Hold with a HK$0.06 price target. To see the full list of analyst forecasts on i-CABLE Communications stock, see the HK:1097 Stock Forecast page.

i-CABLE Communications Announces Board Restructuring

i-CABLE Communications Limited has announced key changes to its board of directors, effective from December 13, 2025. Mr. Darren Raymond Shaw and Mr. Chang Tat Joel have been appointed as executive directors, while Mr. Lie Ken Jie Remy Anthony Ket Heng has resigned as an executive director but will continue as an alternate director. Additionally, Mr. To Chi Hak has been appointed as an authorized representative. These changes are expected to influence the company’s strategic direction and governance structure.

The most recent analyst rating on (HK:1097) stock is a Hold with a HK$0.11 price target. To see the full list of analyst forecasts on i-CABLE Communications stock, see the HK:1097 Stock Forecast page.