Midland Holdings Limited (HK:1200)
:1200
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Midland Holdings Limited
(1200)
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Rating:67Neutral
Price Target:
HK$3.50
▲(53.51% Upside)
Action:DowngradedDate:01/30/26
Overall score is driven primarily by solid financial trends (revenue growth and margin improvement) but tempered by volatile profitability and cash flow concerns (including zero free cash flow in 2024). Technically, the uptrend is strong but overbought signals add risk. Valuation is supportive given the low P/E.
Positive Factors
Revenue & Gross Margin Improvement
Sustained revenue growth with expanding gross margins indicates the core brokerage business is scaling while controlling direct costs. Over 2-6 months this supports more durable operating leverage, stronger underwriting of deals and greater capacity to reinvest in distribution and technology.
Negative Factors
Volatile Net Profitability and ROE
Material swings in net margins and inconsistent ROE undermine predictability of shareholder returns and complicate capital allocation. Over several months this volatility can limit confidence in earnings durability, reduce reinvestment discipline and raise the cost of capital for growth initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Gross Margin Improvement
Sustained revenue growth with expanding gross margins indicates the core brokerage business is scaling while controlling direct costs. Over 2-6 months this supports more durable operating leverage, stronger underwriting of deals and greater capacity to reinvest in distribution and technology.
Read all positive factors
Midland Holdings Limited (1200) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$2.06B
Dividend YieldN/A
Average Volume (3M)2.78M
Price to Earnings (P/E)1.9
Beta (1Y)1.42
Revenue Growth9.76%
EPS Growth219.80%
CountryHK
Employees4,593
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.38
Shares Outstanding716,896,000
10 Day Avg. Volume2,119,192
30 Day Avg. Volume2,776,503
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.61
Price to Sales (P/S)0.10
P/FCF Ratio0.95
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$3.63Price Target Upside59.21% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.62
Revenue Forecast (FY)HK$5.00B
Midland Holdings Limited Business Overview & Revenue Model
Company Description
Midland Holdings Limited, an investment holding company, provides property agency services in the Hong Kong, Macau, and the People's Republic of China. The company offers residential property agency services, as well as non-residential property ag...
How the Company Makes Money
Midland Holdings generates revenue primarily through its real estate transactions, including property sales and rentals. The company profits from property development by acquiring land, developing residential and commercial properties, and then se...
Midland Holdings Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
65
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.29B | 6.09B | 4.08B | 3.12B | 6.00B | 4.98B |
| Gross Profit | 5.29B | 6.09B | 4.08B | -285.16M | 555.17M | 318.55M |
| EBITDA | 407.03M | 447.13M | 475.82M | 78.78M | 779.78M | 812.20M |
| Net Income | 297.65M | 320.32M | -41.92M | -533.97M | 100.21M | 131.85M |
Balance Sheet | ||||||
| Total Assets | 4.42B | 4.71B | 3.57B | 3.83B | 6.35B | 5.03B |
| Cash, Cash Equivalents and Short-Term Investments | 722.16M | 711.13M | 532.15M | 450.67M | 1.51B | 940.61M |
| Total Debt | 263.48M | 222.74M | 456.84M | 768.26M | 1.53B | 897.87M |
| Total Liabilities | 3.28B | 3.71B | 2.91B | 3.14B | 5.17B | 3.94B |
| Stockholders Equity | 1.14B | 993.71M | 657.19M | 684.25M | 1.19B | 1.09B |
Cash Flow | ||||||
| Free Cash Flow | 688.21M | 636.20M | 523.21M | 45.98M | 702.35M | 634.44M |
| Operating Cash Flow | 698.29M | 644.60M | 543.60M | 103.32M | 767.69M | 694.49M |
| Investing Cash Flow | -9.91M | -2.51M | 54.66M | -53.99M | -60.34M | -59.17M |
| Financing Cash Flow | -632.13M | -462.30M | -512.50M | -1.10B | -142.25M | -856.94M |
Midland Holdings Limited Technical Analysis
Negative
2.28
Price Trends
3.03
Negative
2.66
Positive
2.26
Positive
Market Momentum
-0.03
Positive
43.03
Neutral
35.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1200, the sentiment is Negative. The current price of 2.28 is below the 20-day moving average (MA) of 3.05, below the 50-day MA of 3.03, and above the 200-day MA of 2.26, indicating a neutral trend. The MACD of -0.03 indicates Positive momentum. The RSI at 43.03 is Neutral, neither overbought nor oversold. The STOCH value of 35.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1200.
Midland Holdings Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | HK$2.54B | 11.82 | 11.54% | ― | 21.08% | -18.26% | |
68 Neutral | HK$817.97M | 6.54 | 6.47% | 8.44% | 16.65% | -8.74% | |
67 Neutral | HK$2.06B | 1.89 | 30.03% | ― | 9.76% | 219.80% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
58 Neutral | HK$238.65M | -1.08 | 4.36% | ― | -7.17% | -22.01% | |
50 Neutral | HK$930.47M | -3.16 | -3.07% | 6.22% | -3.09% | 62.33% | |
49 Neutral | HK$874.80M | -11.88 | -7.95% | 3.94% | -7.47% | -300.57% |
* Real Estate Sector Average
HK:1200
Midland Holdings Limited
2.88
1.87
185.15%
HK:1502
Financial Street Property Co. Limited Class H
2.19
0.33
17.74%
HK:2215
Dexin Services Group Ltd.
0.26
-0.62
-70.45%
HK:2270
Desun Real Estate Investment Services Group Co., Ltd.
4.10
2.80
215.38%
HK:0237
Safety Godown Co., Ltd.
2.16
0.40
22.73%
HK:0266
Tian Teck Land Limited
1.96
0.10
5.38%
Midland Holdings Limited Corporate Events
Midland Holdings Flags Over 20% Profit Growth on Strong Property Market Recovery
Jan 28, 2026
Midland Holdings Limited reported that, based on unaudited management accounts for the eleven months ended 30 November 2025, profit before income tax reached about HK$460 million, already exceeding the full-year 2024 figure by more than 20%, indic...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.