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KPa-BM Holdings Ltd
(2663)
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Rating:71Outperform
Price Target:
HK$0.30
â–²(8.57% Upside)
Action:Upgraded
Date:03/24/26
The score is driven primarily by solid financial fundamentals (especially low leverage) despite softer 2025 results and cash-flow volatility, supported by very strong valuation metrics (low P/E and high dividend yield). Technical signals are more neutral, with price slightly below moving averages but momentum indicators modestly positive.
Positive Factors
Low leverage / strong balance sheet
A conservatively levered balance sheet and very low debt materially reduce solvency and refinancing risk across project cycles. This durable strength supports bidding on capital-intensive contracts, cushions margin volatility, and preserves capacity for capex, dividends or opportunistic M&A over the next several months.
Negative Factors
2025 revenue contraction
A reversal to negative revenue growth in 2025 signals durable headwinds such as fewer new awards, project timing gaps, or market weakness. Reduced top-line scale can impair operating leverage, limit reinvestment capacity, and pressure margins and backlog conversion over the coming quarters unless order intake recovers.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
A conservatively levered balance sheet and very low debt materially reduce solvency and refinancing risk across project cycles. This durable strength supports bidding on capital-intensive contracts, cushions margin volatility, and preserves capacity for capex, dividends or opportunistic M&A over the next several months.
Read all positive factors
KPa-BM Holdings Ltd (2663) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$194.93M
Dividend Yield23.73%
Average Volume (3M)152.00K
Price to Earnings (P/E)8.2
Beta (1Y)>-0.01
Revenue Growth-41.26%
EPS Growth-64.71%
CountryHK
Employees214
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.04
Shares Outstanding556,930,000
10 Day Avg. Volume147,000
30 Day Avg. Volume152,000
Financial Highlights & Ratios
PEG Ratio-0.24
Price to Book (P/B)0.74
Price to Sales (P/S)0.29
P/FCF Ratio5.99
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
KPa-BM Holdings Ltd Business Overview & Revenue Model
Company Description
KPa-BM Holdings Limited functions as an investment holding company, predominantly engaged in providing structural engineering solutions. The firm concentrates specifically on design-and-build projects for both private and government entities, prim...
KPa-BM Holdings Ltd Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
83
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 529.20M | 667.71M | 666.04M | 568.49M | 494.17M | 458.49M |
| Gross Profit | 92.80M | 107.09M | 115.23M | 100.77M | 60.71M | 100.65M |
| EBITDA | 44.02M | 52.49M | 68.52M | 56.18M | 25.80M | 70.82M |
| Net Income | 22.43M | 36.16M | 46.38M | 37.15M | 11.51M | 50.17M |
Balance Sheet | ||||||
| Total Assets | 375.95M | 437.82M | 526.63M | 497.98M | 402.13M | 431.39M |
| Cash, Cash Equivalents and Short-Term Investments | 68.65M | 119.97M | 170.23M | 124.94M | 105.40M | 116.65M |
| Total Debt | 10.71M | 12.98M | 18.76M | 54.77M | 16.22M | 11.66M |
| Total Liabilities | 119.04M | 176.42M | 234.28M | 234.18M | 154.76M | 163.17M |
| Stockholders Equity | 256.90M | 261.40M | 292.35M | 263.79M | 247.37M | 268.23M |
Cash Flow | ||||||
| Free Cash Flow | -16.28M | 32.06M | 106.85M | 3.67M | 6.14M | 13.86M |
| Operating Cash Flow | -11.15M | 33.07M | 109.48M | 4.65M | 7.44M | 15.68M |
| Investing Cash Flow | -6.72M | -381.00K | 7.55M | -11.11M | 20.46M | -1.81M |
| Financing Cash Flow | -59.12M | -83.02M | -61.23M | 15.78M | -38.75M | -23.43M |
KPa-BM Holdings Ltd Technical Analysis
Positive
0.28
Price Trends
0.33
Positive
0.30
Positive
0.30
Positive
Market Momentum
<0.01
Positive
47.92
Neutral
20.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2663, the sentiment is Positive. The current price of 0.28 is below the 20-day moving average (MA) of 0.38, below the 50-day MA of 0.33, and below the 200-day MA of 0.30, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 47.92 is Neutral, neither overbought nor oversold. The STOCH value of 20.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2663.
KPa-BM Holdings Ltd Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | HK$194.93M | 8.20 | 10.87% | 23.73% | -41.26% | -64.71% | |
68 Neutral | HK$151.75M | 9.55 | 11.27% | 13.51% | -32.40% | 671.43% | |
64 Neutral | HK$195.00M | 4.97 | 5.52% | 9.71% | 41.31% | -27.00% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
48 Neutral | HK$216.00M | 13.53 | 4.36% | 15.38% | 0.39% | -42.36% |
* Industrials Sector Average
HK:2663
KPa-BM Holdings Ltd
0.35
0.05
16.28%
HK:1408
Macau E&M Holding Limited
0.34
0.19
127.89%
HK:1447
SFK Construction Holdings Ltd.
0.54
<0.01
0.19%
HK:1582
CR Construction Group Holdings Limited
0.39
-0.04
-9.30%
HK:1615
AB Builders Group Limited
0.38
0.15
61.70%
HK:1690
Lap Kei Engineering (Holdings) Limited
0.11
0.05
90.91%
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.