Perfect Medical Health Management Limited (1830) AI Stock Analysis

• Market Cap: HK$1.49B
• Dividend Yield: 9.92%
• Average Volume (3M): 414.58K
• Price to Earnings (P/E): 4.6
• Beta (1Y): 0.68
• Revenue Growth: -23.31%
• EPS Growth: -44.61%
• Country: HK
• Employees: 1,161
• Sector: Healthcare
• Sector Strength: 45
• Industry: Personal Products & Services
• EPS (TTM): 0.07
• Shares Outstanding: 1,256,197,800
• 10 Day Avg. Volume: 497,109
• 30 Day Avg. Volume: 414,582
• PEG Ratio: -0.38
• Price to Book (P/B): 7.51
• Price to Sales (P/S): 2.53
• P/FCF Ratio: 9.56
• 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: 66 Neutral
• Price Target: HK$1.50 ▲(20.00% Upside)
• Action: Reiterated Date: 10/17/25
• Date: Action: Reiterated 10/17/25

The stock's overall score is driven primarily by its strong valuation, offering a low P/E ratio and high dividend yield. However, the financial performance is hindered by declining revenue and cash flow growth, and technical indicators suggest a bearish trend. The absence of earnings call data and notable corporate events limits additional insights.

Positive Factors

High profitability margins

Sustained high gross and EBITDA margins indicate structural pricing power and low direct costs for service delivery. This margin profile supports reinvestment, marketing and possible dividend capacity, providing a durable buffer if volumes fluctuate over the next several months.

Strong ROE with moderate leverage

A very high ROE shows efficient use of equity to generate profits while a moderate debt-to-equity ratio signals controlled leverage. This combination supports capital allocation flexibility and resilience in funding expansion or supporting centers without excessive refinancing risk.

Effective cash conversion

High operating cash and free cash flow conversion versus net income indicates earnings quality and reliable cash generation from operations. Even amid growth challenges, solid cash conversion helps fund working capital, capex and customer acquisition without immediate external financing.

Negative Factors

Material revenue decline

A steep decline in revenue of this magnitude points to persistent demand weakness or market share loss. For a clinic-based business with fixed-operating costs, sustained revenue declines pressure utilization, profitability scalability and ability to invest in growth or retain staff.

Declining free cash flow growth

A drop in free cash flow growth constrains the company’s ability to reinvest, pursue expansion or maintain distributions. Over several quarters this trend can erode liquidity buffers, limit marketing and capex needed to regain customers, and increase reliance on external funding.

Revenue tied to discretionary spending

The business depends on discretionary aesthetic services and prepaid packages, making revenue sensitive to consumer sentiment and economic cycles. That structural exposure increases volatility in volumes and makes recovery reliant on sustained consumer confidence and effective client retention strategies.

Perfect Medical Health Management Limited Business Overview & Revenue Model

Company Description

Perfect Medical Health Management Limited, an investment holding company, provides medical and aesthetic medical services in Hong Kong, China, Macau, Singapore, and Australia. It offers medical beauty, hair growth, pain management, preventive care, and fertility care services. The company also provides advertising, charitable, and management services; holds trademarks; and rents equipment. In addition, it operates service centers. The company was formerly known as Perfect Shape Medical Limited and changed its name to Perfect Medical Health Management Limited in June 2021. Perfect Medical Health Management Limited was founded in 2003 and is headquartered in Mong Kok, Hong Kong.

How the Company Makes Money

Perfect Medical Health Management Limited primarily makes money by charging customers for aesthetic medical and beauty services delivered at its service centers. Key revenue streams include: (1) service fees from individual treatments (e.g., aesthetic medical procedures and beauty/body/skin management sessions); and (2) sales of prepaid packages and multi-session treatment plans, where customers pay upfront for a defined set of services to be consumed over time (with revenue recognized as services are delivered). The company’s earnings are therefore driven mainly by customer traffic, conversion of consultations into paid treatments or packages, pricing and mix of higher-value procedures versus standard beauty services, and the utilization/capacity of its clinics and centers. Information on significant partnerships or material third-party revenue arrangements is null.

Perfect Medical Health Management Limited Financial Statement Overview

Summary

The company shows strong profitability with healthy margins and a stable balance sheet. However, it faces challenges with declining revenue and free cash flow growth, indicating potential areas for improvement in sustaining growth momentum.

Income Statement

The company has experienced a decline in revenue growth, with a notable decrease of 12.94% in the latest year. However, it maintains healthy profitability margins, with a gross profit margin of 63.77% and a net profit margin of 18.34%. The EBIT and EBITDA margins are also strong at 23.37% and 39.19%, respectively. Despite the revenue decline, the company demonstrates solid profitability.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio of 0.57, indicating a balanced leverage position. The return on equity is robust at 54.45%, reflecting efficient use of equity to generate profits. The equity ratio stands at 40.59%, suggesting a stable financial structure with adequate equity backing.

Cash Flow

The company has faced a decline in free cash flow growth, down by 16.77% in the latest year. However, the operating cash flow to net income ratio is strong at 0.83, and the free cash flow to net income ratio is 0.90, indicating effective cash generation relative to net income. Despite the decline in free cash flow growth, the company maintains a solid cash flow position.

Breakdown	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement
Total Revenue	1.13B	1.39B	1.39B	1.35B	1.09B
Gross Profit	719.22M	911.37M	662.60M	689.93M	553.44M
EBITDA	441.97M	596.91M	592.40M	602.84M	474.13M
Net Income	206.90M	315.80M	315.64M	305.25M	284.63M
Balance Sheet
Total Assets	935.91M	1.22B	1.30B	1.28B	1.48B
Cash, Cash Equivalents and Short-Term Investments	386.80M	567.40M	656.85M	454.37M	532.89M
Total Debt	216.65M	268.73M	240.35M	311.07M	261.60M
Total Liabilities	557.18M	725.00M	684.02M	786.93M	795.52M
Stockholders Equity	379.95M	497.51M	612.27M	494.27M	684.85M
Cash Flow
Free Cash Flow	298.23M	445.50M	533.81M	372.16M	527.69M
Operating Cash Flow	332.88M	497.12M	560.55M	516.71M	605.91M
Investing Cash Flow	-171.93M	162.56M	-222.51M	8.05M	-300.82M
Financing Cash Flow	-477.95M	-520.97M	-335.02M	-565.97M	-394.41M

Perfect Medical Health Management Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.25
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1830, the sentiment is Negative. The current price of 1.25 is above the 20-day moving average (MA) of 1.21, above the 50-day MA of 1.22, and below the 200-day MA of 1.45, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 44.31 is Neutral, neither overbought nor oversold. The STOCH value of 58.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1830.

Perfect Medical Health Management Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1161	73 Outperform	HK$639.72M	7.71	23.07%	5.98%	-0.19%	19.04%
1830	66 Neutral	HK$1.49B	4.60	36.52%	9.92%	-23.31%	-44.61%
8603	66 Neutral	HK$5.53B	21.31	70.23%	―	56.28%	-9.91%
1827	57 Neutral	HK$364.00M	44.19	7.67%	―	-20.59%	―
0919	53 Neutral	HK$79.59M	2.59	10.10%	―	-3.40%	515.63%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Perfect Medical Health Management Limited Corporate Events

Perfect Medical Clarifies No Performance Targets on Newly Granted Share Options

Perfect Medical Health Management Limited has issued a supplemental announcement clarifying that recently granted share options to grantees under its share option scheme will not carry specific performance targets. The board and remuneration committee argue that the scheme’s design—linking option value to the company’s share price and imposing a vesting period—already sufficiently aligns the interests of grantees with those of the company and its shareholders, incentivising long-term commitment and broad-based contribution to the Group’s overall performance and development.

The most recent analyst rating on (HK:1830) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Perfect Medical Health Management Limited stock, see the HK:1830 Stock Forecast page.

Perfect Medical Grants Share Options to Employees to Strengthen Long-Term Alignment

Perfect Medical Health Management Limited has granted 3,768,000 share options to eligible employees under its 2021 share option scheme, representing about 0.30% of its issued share capital as of 7 January 2026. The options, exercisable at HK$1.27 per share over a ten-year period and vesting in full on the first anniversary of the grant date after a 12‑month non-exercise period, carry no performance targets and are designed to recognize past contributions, incentivize staff retention, and align employees’ interests with those of the company and its shareholders, underscoring the group’s focus on long-term performance and employee engagement.

The most recent analyst rating on (HK:1830) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Perfect Medical Health Management Limited stock, see the HK:1830 Stock Forecast page.