S&P International Holding Limited (1695) AI Stock Analysis

• Market Cap: HK$108.00M
• Dividend Yield: N/A
• Average Volume (3M): 343.30K
• Price to Earnings (P/E): 1.6
• Beta (1Y): -0.10
• Revenue Growth: 37.73%
• EPS Growth: 150.54%
• Country: HK
• Employees: 161
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 0.01
• Shares Outstanding: 1,080,000,000
• 10 Day Avg. Volume: 463,500
• 30 Day Avg. Volume: 343,300
• PEG Ratio: -0.01
• Price to Book (P/B): 0.57
• Price to Sales (P/S): 0.63
• P/FCF Ratio: 6.19
• 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: 60 Neutral
• Price Target: HK$0.10 ▼(-4.00% Downside)
• Action: Reiterated Date: 01/24/26
• Date: Action: Reiterated 01/24/26

The score is driven mainly by solid reported growth and a strong balance sheet, but materially constrained by weak cash flow quality (zero free cash flow). Technical indicators also point to soft momentum (below key DMAs and negative MACD), while the low P/E provides a meaningful valuation cushion.

Positive Factors

Revenue Growth & Gross Margin

Sustained 34.4% revenue growth combined with a 25.5% gross margin improvement suggests durable expansion and better procurement or pricing. These trends enhance scalable economics, support reinvestment capacity, and strengthen medium-term profitability resilience.

Strong Balance Sheet

Very low leverage and a high equity ratio provide lasting financial flexibility, enabling strategic investments or absorbing shocks without heavy interest burdens. This capital structure supports sustained operations and lowers refinancing risk over the medium term.

Diversified Distribution & Brand Partnerships

A diversified product mix and partnerships with established international brands create multiple revenue channels and bargaining leverage. Structural distribution reach across Asian markets improves resilience to single-market shocks and supports steady demand over time.

Negative Factors

Zero Free Cash Flow

Zero free cash flow constrains the company's ability to fund capex, pay dividends, or reduce debt from internal resources. Over months, this limits strategic flexibility, forces reliance on external financing, and raises risk around sustaining growth initiatives.

Weak Operating Cash Conversion

Earnings not converting into operating cash undermines working capital funding and can mask underlying business stress. Persistently weak cash conversion elevates liquidity risk and may require external capital to support inventory and expansion needs.

Modest Net Profit Margin

A net margin of 8.2% is modest for a consumer goods distributor, leaving limited buffer against cost inflation or competitive pricing pressure. Over time, lower margins restrict internal funding for innovation and blunt the company’s ability to build sustainable competitive advantages.

S&P International Holding Limited Business Overview & Revenue Model

Company Description

S&P International Holding Limited, an investment holding company, engages in manufacturing and distributing coconut-based food products. It offers coconut cream powder, low fat desiccated coconut, coconut milk, coconut water, rice dumplings, toasted coconut paste, and other related products. The company offers its products under the Santan, Cosip, Kerra, and Rasa Enak brand names to OEM customers, distributors, industrial customers, trading companies, and wholesale customers. It operates in West Indies, South East Asia, the Middle East, North America, East Asia, and internationally. The company was founded in 1983 and is headquartered in Petaling Jaya, Malaysia.

How the Company Makes Money

S&P International generates revenue through multiple key streams, primarily by acting as a distributor and trader of consumer goods. The company profits from the markup on products sourced from manufacturers, which are then sold to retailers and wholesalers throughout Asia. Additionally, S&P may engage in partnerships with international brands to serve as exclusive distributors, providing a steady income through commission-based sales. The company also benefits from economies of scale as it expands its product lines and market presence, allowing for cost efficiencies in procurement and logistics. Significant partnerships with established brands in the consumer goods sector further bolster its revenue potential, ensuring a consistent flow of products to meet market demand.

S&P International Holding Limited Financial Statement Overview

Summary

Strong income statement and balance sheet (revenue up 34.4%, improving gross margin to 25.5%, low leverage with 0.18 debt-to-equity and high 73.6% equity ratio) are offset by weak cash generation, with free cash flow at zero and lack of positive operating cash flow metrics raising sustainability risk.

Income Statement

The company showed significant revenue growth with a 34.4% increase from the previous year, indicating strong demand or market expansion. The gross profit margin improved to 25.5%, reflecting better cost management or pricing strategies. However, the net profit margin of 8.2% suggests room for efficiency improvements despite positive net income, as margins in the industry are typically higher. The EBIT and EBITDA margins at 12.8% and 20.8% respectively, demonstrate operational efficiency improvements.

Balance Sheet

The balance sheet indicates a healthy equity position with a debt-to-equity ratio of 0.18, suggesting manageable leverage. The return on equity is 7.4%, indicating moderate profitability for shareholders. The equity ratio of 73.6% highlights a strong financial foundation. Overall, the company maintains a solid balance sheet with room for strategic investments or growth initiatives.

Cash Flow

The company's cash flow statement shows challenges with free cash flow, which was zero in the current period. The absence of positive operating cash flow could indicate issues in cash generation relative to net income, which requires attention for sustaining operations without external financing. The lack of free cash flow growth and operational cash flow to net income metrics are concerning for long-term financial health.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	130.91M	114.50M	85.22M	91.62M	92.66M	88.68M
Gross Profit	31.19M	29.21M	17.34M	14.21M	10.99M	10.50M
EBITDA	22.36M	23.82M	7.40M	8.34M	951.63K	6.38M
Net Income	14.20M	9.37M	-1.80M	-890.37K	-3.41M	-3.02M
Balance Sheet
Total Assets	180.20M	172.12M	163.26M	173.07M	170.46M	165.16M
Cash, Cash Equivalents and Short-Term Investments	15.60M	15.95M	9.38M	6.77M	15.62M	32.59M
Total Debt	23.89M	22.23M	29.16M	38.71M	35.20M	37.62M
Total Liabilities	50.34M	45.33M	44.39M	55.52M	55.52M	48.77M
Stockholders Equity	129.79M	126.72M	118.81M	117.49M	114.87M	116.33M
Cash Flow
Free Cash Flow	6.08M	11.74M	16.84M	-14.80M	-17.09M	1.42M
Operating Cash Flow	6.60M	14.04M	21.22M	-346.80K	-536.50K	9.84M
Investing Cash Flow	1.83M	4.46K	-4.37M	-14.44M	-16.30M	-4.88M
Financing Cash Flow	-5.52M	-7.43M	-12.95M	2.28M	-4.52M	3.05M

S&P International Holding Limited Technical Analysis

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

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1695, the sentiment is Positive. The current price of 0.1 is above the 20-day moving average (MA) of 0.09, above the 50-day MA of 0.09, and above the 200-day MA of 0.09, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 78.91 is Negative, neither overbought nor oversold. The STOCH value of 93.89 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1695.

S&P International Holding Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
1695	60 Neutral	HK$108.00M	1.61	11.07%	―	37.73%	150.54%
8362	56 Neutral	HK$79.80M	-14.10	-2.28%	―	-0.97%	-140.00%
2147	51 Neutral	HK$42.34M	-0.17	-28.48%	―	56.39%	-86.79%
0932	48 Neutral	HK$96.34M	-2.04	-34.17%	―	-3.05%	-204.26%
1676	43 Neutral	HK$55.05M	-0.63	-78.83%	―	22.31%	2.36%
0841	43 Neutral	HK$112.85M	1.70	-20.08%	―	75.21%	18.42%