FIH Mobile (HK:2038)
:2038
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FIH Mobile
(2038)
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Rating:56Neutral
Price Target:
HK$27.00
▲(38.11% Upside)
Action:ReiteratedDate:04/22/26
The score reflects mixed fundamentals: a cleaner balance sheet and a return to profitability are positives, but very thin margins and negative free cash flow in 2025 raise quality and consistency risk. Technically the stock is in a strong uptrend, partly offset by a demanding valuation (P/E ~37).
Positive Factors
Stronger balance sheet / low leverage
Markedly lower leverage and sizable equity provide durable financial flexibility. A light debt load reduces interest risk, supports capital allocation for tooling or capacity, and improves resilience across mobile demand cycles, aiding long-term program wins and investment capacity.
Negative Factors
Very thin operating and net margins
Extremely low gross and net margins leave little buffer against commodity, labor, or logistics cost swings. Structural margin compression limits retained earnings for reinvestment, constrains ROE improvement, and makes profitability highly sensitive to adverse demand or pricing pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Stronger balance sheet / low leverage
Markedly lower leverage and sizable equity provide durable financial flexibility. A light debt load reduces interest risk, supports capital allocation for tooling or capacity, and improves resilience across mobile demand cycles, aiding long-term program wins and investment capacity.
Read all positive factors
FIH Mobile (2038) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$19.10B
Dividend YieldN/A
Average Volume (3M)909.27K
Price to Earnings (P/E)37.3
Beta (1Y)1.23
Revenue Growth16.73%
EPS GrowthN/A
CountryHK
Employees31,568
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)0.47
Shares Outstanding788,450,000
10 Day Avg. Volume762,816
30 Day Avg. Volume909,274
Financial Highlights & Ratios
PEG Ratio-0.10
Price to Book (P/B)1.30
Price to Sales (P/S)0.30
P/FCF Ratio-24.97
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
FIH Mobile Business Overview & Revenue Model
Company Description
FIH Mobile Limited, an investment holding company, provides integrated manufacturing services for the handset industry worldwide. It operates through three segments: Asia, Europe, and America. The company designs, manufactures, distributes, and tr...
How the Company Makes Money
FIH Mobile makes money primarily by providing contract manufacturing and related services to electronics brands and OEM/ODM customers. Its core revenue stream is manufacturing service revenue earned from producing mobile devices and device sub-ass...
FIH Mobile Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
72
Positive
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 6.67B | 5.70B | 6.45B | 9.39B | 8.58B |
| Gross Profit | 202.57M | 134.64M | 109.82M | 191.96M | 224.41M |
| EBITDA | 85.57M | 126.25M | 107.74M | 135.32M | 268.39M |
| Net Income | 52.80M | -20.33M | -120.68M | -72.14M | 56.33M |
Balance Sheet | |||||
| Total Assets | 3.74B | 3.82B | 4.32B | 5.51B | 5.98B |
| Cash, Cash Equivalents and Short-Term Investments | 1.35B | 1.69B | 1.90B | 1.85B | 1.90B |
| Total Debt | 118.64M | 346.00M | 707.65M | 679.82M | 880.67M |
| Total Liabilities | 2.22B | 2.36B | 2.76B | 3.72B | 3.81B |
| Stockholders Equity | 1.52B | 1.46B | 1.56B | 1.78B | 2.16B |
Cash Flow | |||||
| Free Cash Flow | -78.83M | 237.23M | 9.48M | 266.12M | 162.51M |
| Operating Cash Flow | 107.82M | 362.24M | 102.66M | 409.41M | 281.31M |
| Investing Cash Flow | -361.18M | -220.91M | -40.09M | -126.96M | -87.14M |
| Financing Cash Flow | -276.71M | -428.53M | -37.13M | -214.02M | -110.88M |
FIH Mobile Technical Analysis
Positive
19.55
Price Trends
20.82
Positive
20.10
Positive
17.85
Positive
Market Momentum
0.34
Negative
59.96
Neutral
73.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2038, the sentiment is Positive. The current price of 19.55 is below the 20-day moving average (MA) of 20.74, below the 50-day MA of 20.82, and above the 200-day MA of 17.85, indicating a bullish trend. The MACD of 0.34 indicates Negative momentum. The RSI at 59.96 is Neutral, neither overbought nor oversold. The STOCH value of 73.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2038.
FIH Mobile Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | HK$15.46B | 6.79 | 22.90% | 7.66% | -1.00% | -10.43% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | HK$45.30B | 16.52 | 8.59% | 0.63% | 16.62% | 43.18% | |
56 Neutral | HK$19.10B | 37.28 | 3.51% | ― | 16.73% | ― | |
54 Neutral | HK$4.96B | -70.76 | -11.77% | 0.24% | 0.94% | ― | |
54 Neutral | HK$635.13M | -58.01 | -0.25% | ― | -7.14% | 85.97% | |
50 Neutral | HK$186.17B | 17.66 | 7.55% | 2.43% | 11.91% | -44.16% |
* Technology Sector Average
HK:2038
FIH Mobile
26.10
18.80
257.53%
HK:2018
AAC Technologies Holdings
39.60
3.63
10.09%
HK:2342
Comba Telecom Systems Holdings
1.64
0.17
11.87%
HK:2000
SIM Technology Group
0.30
-0.04
-10.45%
HK:0303
VTech Holdings
61.30
13.17
27.37%
HK:0763
ZTE
25.52
3.37
15.21%
FIH Mobile Corporate Events
FIH Mobile Sets 2026 AGM to Approve Dividend, Board Mandates and Share Issuance Authority
Apr 16, 2026
FIH Mobile has called its 2026 annual general meeting for 22 May in Hong Kong, where shareholders will review the audited consolidated financial statements for the year to 31 December 2025 and vote on a proposed final dividend of US3.47 cents per ...
FIH Mobile boosts Vietnam manufacturing arm with fifth capital injection
Apr 15, 2026
FIH Mobile’s indirect wholly owned subsidiary Chief Expertise Limited plans to inject an additional US$58.3 million into its Vietnam arm, Fushan Technology, as a long-term investment to bolster working capital and general corporate purposes....
FIH Mobile Adjusts Vesting Schedule for Share Incentive Grants
Apr 2, 2026
FIH Mobile has issued a supplemental announcement clarifying changes to the vesting schedule for award shares granted under its share scheme to a director, a senior manager and employees. The first tranche vesting date for these employee grants, o...
FIH Mobile swings to 2025 profit on higher revenue and lower impairments
Mar 13, 2026
FIH Mobile has reported a sharp turnaround in its 2025 financial performance, with revenue rising to US$6.66 billion from US$5.70 billion and gross profit increasing to US$205.2 million. The group swung from a net loss of US$20.2 million in 2024 t...
FIH Mobile Announces Final 2025 Dividend and Key Payout Dates
Mar 13, 2026
FIH Mobile Limited has proposed a final ordinary cash dividend of USD 0.0347 per share for the financial year ended 31 December 2025, underscoring its intention to return capital to shareholders following the period’s performance. Shareholde...
FIH Mobile Sets March Board Meeting to Approve 2025 Results and Weigh Dividend
Feb 12, 2026
FIH Mobile has scheduled a board meeting for 13 March 2026 to review and, if appropriate, approve its audited final results for the financial year ended 31 December 2025, along with the proposed publication of those results. The board will also co...
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.