Windmill Group Ltd. (1850) AI Stock Analysis

• Market Cap: HK$255.74M
• Dividend Yield: N/A
• Average Volume (3M): 2.08M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.28
• Revenue Growth: -5.12%
• EPS Growth: -85.86%
• Country: HK
• Employees: 61
• Sector: Industrials
• Sector Strength: 72
• Industry: Security & Protection Services
• EPS (TTM): -0.02
• Shares Outstanding: 172,800,000
• 10 Day Avg. Volume: 1,005,000
• 30 Day Avg. Volume: 2,075,636
• 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 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: 49 Neutral
• Price Target: HK$1.00 ▲(61.29% Upside)
• Action: Reiterated Date: 04/02/26
• Date: Action: Reiterated 04/02/26

The score is held down primarily by weak financial performance—thin and deteriorating profitability alongside multi-year negative operating/free cash flow—despite a modestly leveraged balance sheet. Technicals provide some support due to a strong uptrend and positive MACD, but overbought RSI/Stoch readings raise near-term risk. Valuation remains uncertain given the negative P/E and no dividend yield data.

Positive Factors

Balance sheet resilience

A low debt-to-equity ratio (~0.21) and reported growth in equity and assets provide a durable capital cushion. That balance-sheet flexibility helps absorb multi-year cash shortfalls, supports working-capital needs and gives management optionality for reinvestment or opportunistic M&A over the next several months.

Negative Factors

Persistent negative operating cash flow

Multi-year negative operating cash flow is a material structural weakness: it limits reinvestment, forces dependence on the balance sheet or external capital, and raises execution risk. Continued negative OCF undermines sustainability and constrains strategic options unless the company converts recent improvements into positive cash generation.

Windmill Group Ltd. Business Overview & Revenue Model

Company Description

WINDMILL Group Limited operates as a fire service installation contractor in Hong Kong. It engages in the design, supply, and installation of fire safety systems for buildings under construction or re-development. The company is also involved in t...

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WINDMILL Group Limited operates as a fire service installation contractor in Hong Kong. It engages in the design, supply, and installation of fire safety systems for buildings under construction or re-development. The company is also involved in t...

Windmill Group Ltd. Financial Statement Overview

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	23.14M	25.91M	29.00M	30.45M	24.23M	27.45M
EBITDA	-277.00K	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

• Technical Analysis Sentiment: Positive
• Last Price: 0.62
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1850, the sentiment is Positive. The current price of 0.62 is below the 20-day moving average (MA) of 1.12, below the 50-day MA of 0.94, and below the 200-day MA of 0.71, indicating a bullish trend. The MACD of 0.13 indicates Negative momentum. The RSI at 75.14 is Negative, neither overbought nor oversold. The STOCH value of 71.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1850.

Windmill Group Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3822	69 Neutral	HK$93.24M	0.44	10.95%	10.17%	52.69%	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
3728	55 Neutral	HK$60.78M	6.49	6.32%	―	46.37%	-22.94%
2147	51 Neutral	HK$40.32M	-0.17	-18.01%	―	56.39%	-86.79%
1850	49 Neutral	HK$255.74M	-6.69	-1.38%	―	-5.12%	-85.86%
2195	49 Neutral	HK$63.43M	-1.27	-52.54%	―	48.86%	54.49%
6189	38 Underperform	HK$17.35M	-0.35	9.17%	―	―	―

Windmill Group Ltd. Corporate Events