Windmill Group Ltd. (HK:1850)
:1850
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Windmill Group Ltd.
(1850)
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Rating:52Neutral
Price Target:
HK$2.00
▲(222.58% Upside)
Action:Reiterated
Date:05/27/26
The score is held back primarily by weak financial performance—especially multi-year negative operating/free cash flow and deteriorating 2025 profitability—despite a relatively manageable leverage profile. Technicals are supportive with a strong uptrend, but overbought signals reduce confidence near-term. Valuation is also a drag due to the negative P/E and lack of dividend yield data.
Positive Factors
Balance-sheet leverage
Low debt-to-equity (~0.21) provides structural financial flexibility, reducing insolvency risk and refinancing pressure. This manageable leverage supports durability through cycles, allowing the company to fund operations or strategic moves without immediate dependence on costly external capital.
Negative Factors
Multi-year negative cash flow
Persistent negative operating and free cash flow over four consecutive years erodes internal financing capacity and forces dependence on external funding or asset draws. This constrains reinvestment, increases liquidity risk, and undermines the sustainability of operations absent a durable turnaround.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet leverage
Low debt-to-equity (~0.21) provides structural financial flexibility, reducing insolvency risk and refinancing pressure. This manageable leverage supports durability through cycles, allowing the company to fund operations or strategic moves without immediate dependence on costly external capital.
Read all positive factors
Windmill Group Ltd. (1850) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$103.68M
Dividend YieldN/A
Average Volume (3M)2.08M
Price to Earnings (P/E)―
Beta (1Y)0.15
Revenue Growth-15.47%
EPS Growth-181.34%
CountryHK
Employees61
SectorIndustrials
Sector Strength72
IndustrySecurity & Protection Services
Share Statistics
EPS (TTM)-0.06
Shares Outstanding172,800,000
10 Day Avg. Volume1,005,000
30 Day Avg. Volume2,075,636
Financial Highlights & Ratios
PEG Ratio-0.61
Price to Book (P/B)0.11
Price to Sales (P/S)0.09
P/FCF Ratio-1.31
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
Windmill Group Ltd. Business Overview & Revenue Model
Company Description
WINDMILL Group Limited, a Hong Kong-based entity, operates primarily as a fire service installation (FSI) contractor. Its core activities involve the engineering, sourcing, and setup of fire safety systems for both new construction projects and pr...
Windmill Group Ltd. Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
68
Positive
Cash Flow
27
Negative
| Breakdown | TTM | Apr 2024 | Apr 2023 | Apr 2022 | Apr 2021 | Apr 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 371.64M | 374.35M | 394.54M | 277.68M | 231.26M | 197.60M |
| Gross Profit | 23.25M | 25.91M | 29.00M | 30.45M | 24.23M | 27.45M |
| EBITDA | -1.47M | 7.93M | 10.39M | 14.56M | -3.91M | 9.35M |
| Net Income | -4.53M | 568.00K | 2.93M | 7.80M | -6.99M | 4.89M |
Balance Sheet | ||||||
| Total Assets | 477.35M | 434.56M | 397.06M | 258.82M | 194.63M | 180.81M |
| Cash, Cash Equivalents and Short-Term Investments | 46.78M | 8.84M | 16.89M | 25.12M | 62.72M | 51.44M |
| Total Debt | 53.05M | 60.54M | 56.60M | 59.66M | 18.26M | 32.36M |
| Total Liabilities | 117.36M | 141.38M | 123.16M | 115.37M | 57.57M | 66.02M |
| Stockholders Equity | 361.20M | 294.37M | 275.28M | 144.11M | 137.06M | 114.79M |
Cash Flow | ||||||
| Free Cash Flow | -42.71M | -24.60M | -131.77M | -71.21M | -3.06M | 26.60M |
| Operating Cash Flow | -41.50M | -23.99M | -131.69M | -70.99M | -2.02M | 27.11M |
| Investing Cash Flow | -1.32M | -397.00K | 6.37M | -2.67M | -4.73M | -1.16M |
| Financing Cash Flow | 66.33M | 16.91M | 121.17M | 35.03M | 14.64M | -19.61M |
Windmill Group Ltd. Technical Analysis
Negative
0.62
Price Trends
1.65
Negative
1.29
Negative
0.95
Negative
Market Momentum
0.19
Positive
29.16
Positive
28.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1850, the sentiment is Negative. The current price of 0.62 is below the 20-day moving average (MA) of 2.17, below the 50-day MA of 1.65, and below the 200-day MA of 0.95, indicating a bearish trend. The MACD of 0.19 indicates Positive momentum. The RSI at 29.16 is Positive, neither overbought nor oversold. The STOCH value of 28.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1850.
Windmill Group Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | HK$166.20M | 10.41 | 11.27% | 13.51% | -32.40% | 671.43% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
56 Neutral | HK$211.65M | 8.21 | 10.06% | ― | -17.67% | 1010.71% | |
55 Neutral | HK$236.00M | 27.03 | 3.15% | 5.63% | -9.62% | -2.68% | |
52 Neutral | HK$103.68M | -22.88 | -1.38% | ― | -15.47% | -181.34% | |
46 Neutral | HK$267.21M | -3.17 | -6.00% | 7.35% | 24.69% | -257.79% |
* Industrials Sector Average
HK:1850
Windmill Group Ltd.
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109.09%
Windmill Group Ltd. Corporate Events
HSC Resources Shareholders Approve Corporate Name Change to Beautiful Life Group Holdings
Apr 27, 2026
Shareholders of HSC Resources Group Limited approved a special resolution at an extraordinary general meeting on 27 April 2026 to change the company’s English name to Beautiful Life Group Holdings Limited and adopt a new Chinese dual foreign...
HSC Resources Fully Utilises HK$18.5 Million Share Placing Proceeds as Planned
Apr 24, 2026
HSC Resources Group Limited has issued a supplemental announcement detailing the use of net proceeds from a share placing completed on 16 May 2024, in connection with its annual report for the year ended 30 April 2025. The board clarified that the...
HSC Resources Calls EGM to Approve Corporate Name Change to Beautiful Life Group Holdings
Apr 8, 2026
HSC Resources Group Limited has called an extraordinary general meeting in Hong Kong on 27 April 2026 for shareholders to consider a special resolution to change the company’s English name to Beautiful Life Group Holdings Limited. The propos...
HSC Resources Plans Name Change to Beautiful Life Group Holdings
Apr 2, 2026
HSC Resources Group Limited, an investment holding company engaged in fire safety system design, supply, installation, redevelopment and maintenance for buildings and built premises, plans to rebrand as Beautiful Life Group Holdings Limited. The g...
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.