Carote Ltd (HK:2549)
:2549
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Carote Ltd
(2549)
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Rating:65Neutral
Price Target:
HK$5.00
▲(23.76% Upside)
Action:DowngradedDate:03/28/26
The score is driven primarily by fundamentals: strong growth and profitability history is offset by 2025 cash flow weakness and a sharp increase in debt. Technicals also weigh on the score as the stock trades below key moving averages with subdued momentum. Valuation helps support the overall score due to a low P/E and solid dividend yield.
Positive Factors
Strong multi-year revenue scaling
Sustained revenue growth from ~675M to ~2.10B (2021–2025) indicates durable market expansion and successful commercial execution. That scale improves fixed-cost absorption, supports broader distribution and product investment, and bolsters competitive position over the medium term.
Negative Factors
2025 cash-flow reversal
A shift from robust operating and free cash flow (2023–24) to negative cash generation in 2025 undermines the firm's ability to self-fund growth or cover dividends. Persistent cash conversion weakness raises reliance on external financing and increases execution and liquidity risk over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong multi-year revenue scaling
Sustained revenue growth from ~675M to ~2.10B (2021–2025) indicates durable market expansion and successful commercial execution. That scale improves fixed-cost absorption, supports broader distribution and product investment, and bolsters competitive position over the medium term.
Read all positive factors
Carote Ltd (2549) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$2.71B
Dividend Yield3.07%
Average Volume (3M)765.86K
Price to Earnings (P/E)9.0
Beta (1Y)1.11
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees180
SectorConsumer Cyclical
Sector Strength84
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)N/A
Shares Outstanding555,002,600
10 Day Avg. Volume470,150
30 Day Avg. Volume765,860
Financial Highlights & Ratios
PEG Ratio-0.29
Price to Book (P/B)1.61
Price to Sales (P/S)1.08
P/FCF Ratio-88.16
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
Carote Ltd Business Overview & Revenue Model
Company Description
Carote Ltd (2549) is a leading manufacturer and distributor of high-quality cookware and kitchenware products, specializing in non-stick and eco-friendly cookware solutions. The company operates primarily in the consumer goods sector, catering to ...
Carote Ltd Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 291.83M | 2.10B | 2.07B | 1.58B | 768.48M | 675.35M |
| Gross Profit | 110.70M | 667.68M | 835.40M | 565.14M | 275.29M | 126.52M |
| EBITDA | 66.35M | 271.97M | 423.77M | 283.15M | 132.94M | 43.48M |
| Net Income | 55.87M | 251.13M | 355.99M | 237.13M | 108.77M | 31.72M |
Balance Sheet | ||||||
| Total Assets | 795.17M | 1.90B | 1.72B | 636.06M | 553.09M | 440.04M |
| Cash, Cash Equivalents and Short-Term Investments | 264.17M | 1.04B | 1.16B | 236.06M | 92.54M | 137.74M |
| Total Debt | 9.83M | 234.40M | 4.13M | 9.77M | 58.72M | 52.71M |
| Total Liabilities | 582.97M | 491.10M | 466.07M | 413.44M | 415.84M | 369.61M |
| Stockholders Equity | 212.25M | 1.41B | 1.26B | 222.66M | 137.62M | 70.52M |
Cash Flow | ||||||
| Free Cash Flow | 122.12M | -25.74M | 281.23M | 238.09M | 11.25M | 51.21M |
| Operating Cash Flow | 122.12M | -19.58M | 350.23M | 243.95M | 128.65M | 121.97M |
| Investing Cash Flow | -92.22M | 24.31M | -874.10M | 48.10M | -183.97M | -95.44M |
| Financing Cash Flow | -1.69M | -91.04M | 648.05M | -98.23M | 606.00K | 34.93M |
Carote Ltd Technical Analysis
Positive
4.04
Price Trends
4.84
Positive
4.77
Positive
4.79
Positive
Market Momentum
0.02
Negative
53.49
Neutral
73.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2549, the sentiment is Positive. The current price of 4.04 is below the 20-day moving average (MA) of 4.78, below the 50-day MA of 4.84, and below the 200-day MA of 4.79, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 53.49 is Neutral, neither overbought nor oversold. The STOCH value of 73.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2549.
Carote Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | HK$52.00M | 1.55 | 24.70% | ― | 28.47% | -4.35% | |
65 Neutral | HK$2.71B | 9.04 | 18.86% | 3.07% | ― | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
57 Neutral | HK$66.00M | 2.72 | -4.32% | ― | 6.55% | 98.02% | |
46 Neutral | HK$38.22M | -19.89 | 60.50% | ― | 144.78% | 10.07% | |
45 Neutral | HK$111.36M | 22.28 | 3.62% | ― | -2.67% | 22.22% | |
41 Neutral | HK$10.16M | -0.55 | ― | ― | -77.80% | -586.04% |
* Consumer Cyclical Sector Average
HK:2549
Carote Ltd
4.88
1.12
29.79%
HK:8400
Asia Pioneer Entertainment Holdings Ltd.
0.05
<0.01
20.93%
HK:8447
MS Concept Ltd.
0.07
0.03
94.12%
HK:8493
Dragon King Group Holdings Ltd.
0.04
>-0.01
-18.60%
HK:8495
1957 & Co. (Hospitality) Limited
0.29
0.11
61.11%
HK:8510
Top Standard Corp.
0.16
0.05
45.45%
Carote Ltd Corporate Events
Carote grows revenue but margins narrow amid shift to omnichannel kitchenware strategy
Mar 26, 2026
Carote reported a 4% rise in total revenue to RMB2.16 billion in 2025, driven by expansion of offline and online sales channels and the launch of new product categories and materials, even as U.S. tariffs and intense competition weighed on margins...
Carote Ltd Proposes Final Cash Dividend for 2025 Financial Year
Mar 26, 2026
Carote Ltd has proposed a final ordinary cash dividend of HKD 0.1419 per share for the financial year ended 31 December 2025, subject to shareholder approval at a meeting scheduled for 29 May 2026. The dividend is set to be paid in Hong Kong dolla...
Carote Board Sets March Meeting to Approve 2025 Results and Consider Dividend
Mar 10, 2026
Carote Ltd has announced that its board of directors will convene on March 26, 2026, to review and approve the annual results for the year ended December 31, 2025, and to authorize their publication. The board will also consider whether to recomme...
Carote Flags Profit Slump Despite Revenue Growth on Tariffs and FX Hit
Feb 9, 2026
Carote Ltd has warned investors that despite an expected revenue increase of about 3% to 5% for the year ended 31 December 2025, its net profit is projected to drop by roughly 25% to 35% compared with 2024. The company attributes this squeeze to h...
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.