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EuroEyes International Eye Clinic Limited
(1846)
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Rating:65Neutral
Price Target:
HK$2.50
▼(-16.67% Downside)
Action:Reiterated
Date:05/04/26
The score is driven primarily by solid underlying financial stability and cash generation, offset by a meaningful recent decline in profitability/ROE and higher debt. Technicals are mildly negative, while the low P/E and dividend yield provide valuation support.
Positive Factors
Stable operating cash flow and rising FCF
Consistent operating cash flow (~192–209M 2022–2025) and a rise in free cash flow to ~148M in 2025 create durable internal funding. This supports clinic reinvestment, debt service and optional shareholder distributions, providing flexibility through industry cycles and capital needs.
Negative Factors
Material decline in net income
Net income dropped sharply even as revenue rose, implying margin pressure or rising operating costs. Sustained earnings weakness reduces reinvestment capacity, constrains free cash flow conversion and limits ability to scale clinic investments or sustain distributions without margin recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable operating cash flow and rising FCF
Consistent operating cash flow (~192–209M 2022–2025) and a rise in free cash flow to ~148M in 2025 create durable internal funding. This supports clinic reinvestment, debt service and optional shareholder distributions, providing flexibility through industry cycles and capital needs.
Read all positive factors
EuroEyes International Eye Clinic Limited (1846) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$793.04M
Dividend Yield1.99%
Average Volume (3M)156.72K
Price to Earnings (P/E)14.6
Beta (1Y)0.18
Revenue Growth11.23%
EPS Growth-31.73%
CountryHK
Employees404
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)0.17
Shares Outstanding320,706,000
10 Day Avg. Volume164,000
30 Day Avg. Volume156,720
Financial Highlights & Ratios
PEG Ratio-0.56
Price to Book (P/B)0.78
Price to Sales (P/S)1.22
P/FCF Ratio6.56
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
EuroEyes International Eye Clinic Limited Business Overview & Revenue Model
Company Description
EuroEyes International Eye Clinic Limited provides vision correction services in Germany, the People’s Republic of China, Denmark, and the United Kingdom. The company offers laser eye surgery in various options, including SMILE Pro, Femto-Lasik, P...
How the Company Makes Money
EuroEyes makes money primarily by charging patients for medical eye-care services and elective vision-correction procedures delivered through its clinics. Key revenue streams typically include: (1) procedure fees for refractive surgeries (e.g., la...
EuroEyes International Eye Clinic Limited Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
74
Positive
Cash Flow
71
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 796.04M | 715.68M | 714.29M | 610.29M | 632.93M |
| Gross Profit | 324.33M | 286.59M | 335.52M | 270.84M | 312.55M |
| EBITDA | 163.64M | 141.89M | 292.10M | 220.44M | 278.80M |
| Net Income | 54.45M | 82.28M | 131.24M | 89.47M | 133.56M |
Balance Sheet | |||||
| Total Assets | 1.95B | 1.60B | 1.75B | 1.54B | 1.37B |
| Cash, Cash Equivalents and Short-Term Investments | 696.70M | 653.23M | 720.38M | 779.57M | 861.58M |
| Total Debt | 410.19M | 319.29M | 384.26M | 290.41M | 221.48M |
| Total Liabilities | 667.78M | 473.72M | 588.09M | 497.95M | 328.55M |
| Stockholders Equity | 1.25B | 1.09B | 1.13B | 1.01B | 1.01B |
Cash Flow | |||||
| Free Cash Flow | 148.11M | 117.41M | 102.30M | 152.46M | 228.71M |
| Operating Cash Flow | 193.75M | 197.75M | 191.85M | 208.76M | 273.26M |
| Investing Cash Flow | -113.47M | -83.83M | -180.28M | -131.81M | -59.90M |
| Financing Cash Flow | -115.97M | -136.82M | -102.76M | -102.22M | -69.18M |
EuroEyes International Eye Clinic Limited Technical Analysis
Neutral
3.00
Price Trends
2.52
Negative
2.66
Negative
2.86
Negative
Market Momentum
-0.03
Negative
53.73
Neutral
71.18
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1846, the sentiment is Neutral. The current price of 3 is above the 20-day moving average (MA) of 2.38, above the 50-day MA of 2.52, and above the 200-day MA of 2.86, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 53.73 is Neutral, neither overbought nor oversold. The STOCH value of 71.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:1846.
EuroEyes International Eye Clinic Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | HK$1.81B | 8.38 | 7.71% | 9.29% | -3.21% | -6.77% | |
67 Neutral | HK$360.43M | 11.00 | 4.28% | 7.10% | -2.78% | -24.77% | |
65 Neutral | HK$793.04M | 14.57 | 4.33% | 1.99% | 11.23% | -31.73% | |
64 Neutral | HK$1.18B | 11.54 | 5.64% | 1.20% | 1.75% | ― | |
56 Neutral | HK$1.50B | 105.24 | 0.48% | 0.49% | -2.63% | ― | |
54 Neutral | HK$469.86M | 2.97 | 27.04% | ― | 2.00% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
HK:1846
EuroEyes International Eye Clinic Limited
2.48
-0.44
-14.95%
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0.96
-0.74
-43.40%
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3.40
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EuroEyes International Eye Clinic Limited Corporate Events
EuroEyes calls July EGM to approve Dutch acquisition, share issue and option structure
Jun 30, 2026
EuroEyes International Eye Clinic Limited has called an extraordinary general meeting in Hong Kong on 17 July 2026 to seek shareholder approval for a series of transactions tied to the acquisition of the entire issued share capital of a target com...
EuroEyes Shareholders Back All AGM Resolutions, Approve Dividend and Governance Changes
Jun 30, 2026
Shareholders of EuroEyes International Eye Clinic Limited have approved all resolutions at the annual general meeting held on 30 June 2026, including the adoption of the 2025 audited financial statements and a final dividend of HK$0.0126 per share...
EuroEyes Restructures Dutch Subsidiary Ownership Through Major HK-Regulated Deal
Jun 16, 2026
EuroEyes International Eye Clinic Limited has announced that its Dutch subsidiary, EuroEyes Netherlands, will issue new shares to a management company, Manco, under a subscription agreement signed on 16 June 2026. Following completion of this subs...
EuroEyes Sets 2026 AGM to Approve Dividend, Board Changes and Capital Mandates
Jun 4, 2026
EuroEyes International Eye Clinic Limited has called its annual general meeting for 30 June 2026 in Hong Kong, where shareholders will review the audited financial statements for the year ended 31 December 2025 and vote on a proposed final dividen...
EuroEyes posts 9% rise in first-quarter 2026 surgery volumes
Apr 30, 2026
EuroEyes International Eye Clinic Limited reported that it performed 7,598 eye surgeries in the first quarter of 2026, according to preliminary unaudited figures. This represents an increase of about 9% from the 6,997 procedures carried out in the...
EuroEyes Updates Name of Cayman Share Registrar Without Operational Change
Apr 28, 2026
EuroEyes International Eye Clinic Limited has announced an administrative change to its corporate infrastructure, renaming its principal share registrar and transfer office in the Cayman Islands from Harneys Fiduciary (Cayman) Limited to Ascentium...
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.