Birmingham Sports Holdings Limited (2309) AI Stock Analysis

• Market Cap: HK$1.95B
• Dividend Yield: N/A
• Average Volume (3M): 3.50M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.20
• Revenue Growth: 63.92%
• EPS Growth: -62.77%
• Country: HK
• Employees: 420
• Sector: Communication Services
• Sector Strength: 97
• Industry: Entertainment
• EPS (TTM): -0.24
• Shares Outstanding: 922,783,900
• 10 Day Avg. Volume: 3,173,101
• 30 Day Avg. Volume: 3,504,934
• PEG Ratio: -0.02
• Price to Book (P/B): 5.27
• Price to Sales (P/S): 8.78
• P/FCF Ratio: -4.33
• 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: 41 Neutral
• Price Target: HK$2.00 ▼(-4.76% Downside)

Birmingham Sports Holdings Limited faces significant financial challenges, including negative margins, high debt, and liquidity issues, leading to a low financial performance score. The technical analysis indicates bearish trends, and the negative P/E ratio further highlights the lack of profitability. These factors collectively result in a low overall stock score.

Positive Factors

Revenue Growth

A 20% revenue growth indicates strong demand for the company's offerings, suggesting effective business strategies and market expansion.

Real Estate Diversification

Diversification into real estate provides stable income streams, balancing the cyclical nature of sports revenues and enhancing financial resilience.

Governance Improvements

Revised governance structures improve oversight and compliance, potentially increasing stakeholder trust and long-term operational effectiveness.

Negative Factors

High Debt Levels

High leverage increases financial risk, limiting flexibility and potentially impacting the company's ability to invest in growth opportunities.

Negative Cash Flow

Negative cash flow indicates liquidity challenges, which could hinder operational capabilities and necessitate reliance on external financing.

Operational Inefficiencies

Operational inefficiencies and sustained losses suggest challenges in cost management, impacting profitability and long-term sustainability.

Birmingham Sports Holdings Limited Business Overview & Revenue Model

Company Description

Birmingham Sports Holdings Limited, an investment holding company, operates a professional football club in the United Kingdom. The company also invests in residential and commercial properties in Cambodia. In addition, it provides medical consultation, and healthcare and wellness referral related services in Japan; and money lending services. The company was formerly known as Birmingham International Holdings Limited and changed its name to Birmingham Sports Holdings Limited in May 2017. Birmingham Sports Holdings Limited was incorporated in 2002 and is based in Wong Chuk Hang, Hong Kong.

How the Company Makes Money

Birmingham Sports Holdings Limited generates revenue through a combination of its sports operations and real estate investments. The primary source of income comes from its ownership of Birmingham City Football Club, which includes revenue from matchday ticket sales, broadcasting rights, sponsorship deals, and commercial partnerships. Additionally, the company benefits from merchandise sales and hospitality services related to the football club. Beyond football, Birmingham Sports Holdings Limited seeks to capitalize on real estate opportunities, leveraging its sports assets to enhance property value and generate rental or sales income. This diversified approach allows the company to balance the cyclical nature of sports revenue with more stable returns from property investments.

Birmingham Sports Holdings Limited Financial Statement Overview

Summary

The company is experiencing significant financial difficulties, as evidenced by negative gross profit margins, net losses, high debt levels, and negative cash flows. This precarious financial position is compounded by operational inefficiencies and liquidity challenges.

Income Statement

The company has been struggling with negative gross profit margins and net losses over several years. Despite a revenue increase in 2024, both EBIT and EBITDA margins are negative, indicating operational inefficiencies and challenges in cost management. The net profit margin remains negative, highlighting the lack of profitability.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio, reflecting significant leverage. Although stockholder equity increased in 2024, the return on equity remains negative due to net losses. The equity ratio is moderate, but the high level of debt poses financial risks.

Cash Flow

The cash flow statement reveals negative free cash flow and a deteriorating operating cash flow trend, indicating liquidity challenges. The free cash flow to net income ratio is unfavorable, and the company relies heavily on financing activities to cover cash deficits, which is unsustainable long-term.

Breakdown	TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement
Total Revenue	303.56M	275.24M	217.10M	220.94M	165.02M	231.53M
Gross Profit	-360.40M	-295.31M	-233.95M	-309.94M	-338.97M	-302.67M
EBITDA	-378.90M	-191.56M	-15.36M	-785.00K	16.31M	-133.58M
Net Income	-262.96M	-182.78M	-25.66M	-40.66M	-74.23M	-260.48M
Balance Sheet
Total Assets	1.66B	1.26B	959.57M	1.02B	1.08B	1.06B
Cash, Cash Equivalents and Short-Term Investments	222.55M	145.31M	14.75M	35.71M	44.76M	38.80M
Total Debt	1.01B	627.79M	340.78M	432.92M	397.97M	545.29M
Total Liabilities	1.62B	1.05B	758.13M	794.99M	771.95M	748.43M
Stockholders Equity	364.84M	458.27M	520.05M	488.01M	535.30M	326.75M
Cash Flow
Free Cash Flow	-542.72M	-558.36M	-285.48M	-276.81M	-416.79M	-358.70M
Operating Cash Flow	-358.86M	-332.11M	-242.05M	-240.85M	-355.22M	-267.74M
Investing Cash Flow	-336.32M	-138.17M	22.46M	95.17M	320.64M	-47.02M
Financing Cash Flow	780.14M	597.81M	192.59M	104.91M	6.87M	273.61M

Birmingham Sports Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.10
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2309, the sentiment is Positive. The current price of 2.1 is above the 20-day moving average (MA) of 2.08, above the 50-day MA of 1.99, and below the 200-day MA of 2.17, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 51.61 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2309.

Birmingham Sports Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
1060	56 Neutral	HK$25.69B	46.00	3.30%	―	40.31%	212.50%
1132	45 Neutral	HK$187.58M	-6.38	24.24%	―	-7.90%	93.34%
0953	45 Neutral	HK$404.59M	285.00	0.29%	―	206.38%	―
0547	43 Neutral	HK$3.11B	-11.00	-49.75%	―	32.49%	13.58%
2309	41 Neutral	HK$1.95B	-5.42	-76.43%	―	63.92%	-62.77%
1661	40 Underperform	HK$173.17M	-2.06	-23.22%	―	42.20%	7.41%

Birmingham Sports Holdings Limited Corporate Events

ZO Future Group Secures Full Shareholder Backing at 2025 AGM

ZO Future Group reported that all resolutions put to shareholders at its annual general meeting on 30 December 2025 were approved by poll, including adoption of the audited accounts for the year ended 30 June 2025, the re-election of three directors, and authorisation for the board to set directors’ remuneration and re-appoint the company’s auditor. Shareholders also renewed general mandates for the board to issue and repurchase shares, as well as an extension of the share issuance mandate, underscoring strong investor support for the existing leadership and granting management continued flexibility over capital management and governance decisions, with all directors in attendance and an independent scrutineer overseeing the voting process.

The most recent analyst rating on (HK:2309) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on Birmingham Sports Holdings Limited stock, see the HK:2309 Stock Forecast page.

ZO Future Group Granted Waiver for Circular Dispatch Delay

ZO Future Group has announced a delay in the dispatch of a circular related to the disposal of a non-wholly-owned subsidiary. The company has received a waiver from the Hong Kong Stock Exchange to extend the deadline for sending this circular to shareholders until January 23, 2026, due to the need for additional time to finalize certain financial information.

The most recent analyst rating on (HK:2309) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on Birmingham Sports Holdings Limited stock, see the HK:2309 Stock Forecast page.

ZO Future Group Schedules Virtual AGM with Key Resolutions on Agenda

ZO Future Group has announced its upcoming annual general meeting, which will be held electronically on December 30, 2025. The agenda includes adopting the company’s financial statements, re-electing directors, authorizing director remuneration, and re-appointing the auditor. Additionally, the meeting will consider granting the board the authority to issue additional shares, which could impact the company’s capital structure and shareholder value.

The most recent analyst rating on (HK:2309) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on Birmingham Sports Holdings Limited stock, see the HK:2309 Stock Forecast page.

Birmingham Sports Holdings Sells Majority Stake in BCL

Birmingham Sports Holdings Limited has entered into an agreement to sell its 51.72% stake in BCL, a non-wholly-owned subsidiary, to SCL for approximately GBP5.0 million. This transaction is classified as a major and connected transaction under the Hong Kong Stock Exchange Listing Rules, requiring reporting and announcement but exempt from circular and shareholder approval due to prior written consent from a majority shareholder group. The disposal is deemed to be on normal commercial terms and in the best interest of the company and its shareholders, as confirmed by independent directors.

The most recent analyst rating on (HK:2309) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on Birmingham Sports Holdings Limited stock, see the HK:2309 Stock Forecast page.