Vicon Holdings Limited (3878) AI Stock Analysis

• Market Cap: HK$82.97M
• Dividend Yield: N/A
• Average Volume (3M): 151.00K
• Price to Earnings (P/E): 17.1
• Beta (1Y): 0.06
• Revenue Growth: -37.55%
• EPS Growth: -41.28%
• Country: HK
• Employees: 22
• Sector: Industrials
• Sector Strength: 70
• Industry: Engineering & Construction
• EPS (TTM): >-0.01
• Shares Outstanding: 479,600,000
• 10 Day Avg. Volume: 101,400
• 30 Day Avg. Volume: 151,000
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: Hold
• Number of Analyst Covering: 0

• Rating: 56 Neutral
• Price Target: HK$0.00 ▼(-100.00% Downside)

The overall stock score is primarily influenced by mixed financial performance, with strong balance sheet stability but weak cash flow. Technical analysis suggests mild positive momentum, while valuation indicates moderate pricing without a dividend yield. The absence of earnings call and corporate events data limits additional insights.

Positive Factors

Strong Balance Sheet

Vicon's conservative leverage and strong equity base enhance its financial stability, providing resilience against economic fluctuations and enabling potential for future investments.

Diversified Revenue Streams

A diversified revenue model mitigates risks associated with reliance on a single income source, enhancing Vicon's ability to capitalize on various market opportunities and sustain earnings.

Strategic Partnerships

Partnerships expand Vicon's project financing and market reach, strengthening its competitive position and enabling access to new markets and resources, which supports long-term growth.

Negative Factors

Weak Cash Flow Performance

Declining cash flow limits Vicon's ability to invest in growth opportunities and meet financial obligations, potentially impacting liquidity and financial flexibility in the long term.

Declining Profit Margins

Pressure on profit margins indicates challenges in cost management and pricing power, which could hinder Vicon's ability to sustain profitability and compete effectively over time.

Revenue Growth Challenges

Fluctuating revenue growth reflects potential market or operational challenges, which may affect Vicon's ability to maintain a stable growth trajectory and achieve long-term financial targets.

Vicon Holdings Limited Business Overview & Revenue Model

Company Description

Vicon Holdings Limited, an investment holding company, engages in the provision of foundation works and ancillary services in Hong Kong. The company's foundation projects cover various types of construction works, such as piling construction, ELS works, and pile cap construction works, as well as general building works. It is also involved in the lease of construction machinery. The company serves property developers, and project owners and their contractors, as well as public sectors. Vicon Holdings Limited was incorporated in 2016 and is headquartered in Cheung Sha Wan, Hong Kong.

How the Company Makes Money

Vicon Holdings Limited generates revenue through multiple streams, primarily from property development and management services. The company earns income by developing residential and commercial properties, which are either sold to end-users or leased to tenants, providing a steady rental income. Additionally, Vicon engages in strategic partnerships with other firms in the real estate sector, enhancing its project financing and market reach. The company's revenue model is further supported by its investments in the hospitality sector, where it earns from hotel operations and leisure activities. Overall, Vicon's ability to capitalize on market opportunities and its diversified portfolio contribute significantly to its earnings.

Vicon Holdings Limited Financial Statement Overview

Summary

Vicon Holdings Limited shows a mixed financial performance. The income statement reveals challenges in maintaining revenue growth and profitability, while the balance sheet reflects strong financial stability with low leverage. However, cash flow performance is weak, with significant declines in free cash flow growth. The company needs to focus on improving cash generation and profitability to enhance its financial position.

Income Statement

Vicon Holdings Limited has experienced fluctuating revenue growth, with a recent decline of 4.58% after a previous increase. Gross profit margin has decreased to 6.79%, indicating pressure on profitability. The net profit margin is relatively low at 1.59%, reflecting challenges in maintaining profitability. Despite these challenges, the company has managed to maintain a positive EBIT margin of 1.86% and an EBITDA margin of 5.12%, suggesting some operational efficiency.

Balance Sheet

The company maintains a low debt-to-equity ratio of 0.031, indicating conservative leverage and financial stability. However, the return on equity has decreased to 1.78%, suggesting limited returns for shareholders. The equity ratio stands at 83.63%, highlighting a strong equity base relative to total assets, which is a positive indicator of financial health.

Cash Flow

Vicon Holdings Limited has faced a significant decline in free cash flow growth, down by 73.04%, which could impact future investments and liquidity. The operating cash flow to net income ratio is low at 0.20, indicating potential challenges in converting income into cash. The free cash flow to net income ratio is 0.75, suggesting some ability to generate cash relative to net income, but overall cash flow performance remains a concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	318.51M	303.92M	486.64M	417.04M	156.59M	254.63M
Gross Profit	33.70M	20.62M	43.95M	43.58M	33.16M	-38.46M
EBITDA	14.46M	15.56M	17.43M	10.82M	-5.10M	-25.85M
Net Income	7.56M	4.83M	8.27M	2.39M	-24.56M	-51.51M
Balance Sheet
Total Assets	309.47M	324.41M	308.42M	338.93M	335.19M	405.05M
Cash, Cash Equivalents and Short-Term Investments	34.14M	60.41M	39.48M	18.63M	25.48M	14.61M
Total Debt	8.96M	8.50M	8.78M	11.02M	23.29M	93.05M
Total Liabilities	36.56M	53.09M	41.93M	80.71M	79.36M	144.02M
Stockholders Equity	272.91M	271.32M	266.49M	258.22M	255.83M	261.03M
Cash Flow
Free Cash Flow	29.80M	8.03M	38.50M	-17.77M	29.14M	60.63M
Operating Cash Flow	31.03M	10.75M	39.72M	-14.51M	34.44M	61.67M
Investing Cash Flow	-1.43M	-14.04M	-19.83M	22.89M	30.29M	10.78M
Financing Cash Flow	-2.46M	-1.92M	-2.89M	-15.22M	-53.87M	-80.41M

Vicon Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.17
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3878, the sentiment is Negative. The current price of 0.17 is below the 20-day moving average (MA) of 0.17, above the 50-day MA of 0.16, and below the 200-day MA of 0.19, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 49.56 is Neutral, neither overbought nor oversold. The STOCH value of 41.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3878.

Vicon Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.84B	15.52	7.44%	2.00%	2.86%	-14.57%
1343	58 Neutral	HK$75.54M	6.64	3.56%	―	-5.73%	547.06%
3878	56 Neutral	HK$82.97M	17.13	1.80%	―	-37.55%	-41.28%
1413	50 Neutral	HK$106.80M	21.67	-33.39%	―	-34.49%	-496.53%
6816	―	HK$164.80M	―	-98.05%	―	―	―
8217	45 Neutral	HK$79.99M	―	-19.55%	―	3.02%	66.26%

Vicon Holdings Limited Corporate Events

Vicon Holdings Limited Announces Unanimous Approval of AGM Resolutions

Vicon Holdings Limited held its annual general meeting on September 11, 2025, where all proposed resolutions were passed unanimously. The resolutions included the adoption of financial statements, reappointment of auditors, re-election of directors, and granting of mandates related to share issuance and repurchase. The successful passing of these resolutions reflects strong shareholder support and positions the company to continue its strategic initiatives with enhanced governance and operational flexibility.

Vicon Holdings Limited Announces Key Resolutions for Upcoming AGM

Vicon Holdings Limited has announced its upcoming annual general meeting scheduled for September 11, 2025, where key resolutions will be discussed. These include the adoption of financial statements, reappointment of auditors, re-election of directors, and granting of mandates for share issuance and repurchase, which are pivotal for the company’s governance and strategic flexibility.

Vicon Holdings Limited Reports Decline in Annual Revenue and Profit for FY2025

Vicon Holdings Limited reported its financial results for the year ended March 31, 2025, revealing a significant decline in revenue and profit compared to the previous year. The company’s revenue dropped to approximately HK$303.9 million from HK$486.6 million in 2024, and profit attributable to owners decreased to HK$4.8 million from HK$8.3 million. This downturn reflects challenges in the construction sector, impacting the company’s financial performance and potentially affecting its market positioning and stakeholder confidence.

Vicon Holdings Limited Updates Nomination Committee Terms

Vicon Holdings Limited has announced amendments to the terms of reference for its Nomination Committee, which is primarily composed of independent non-executive directors. The committee is tasked with ensuring diversity in its membership and is chaired by a board member. The changes aim to enhance governance by specifying meeting protocols, including notification periods and quorum requirements, and ensuring that resolutions are passed by a majority vote. These adjustments are expected to strengthen the company’s governance framework, potentially impacting its industry positioning by promoting transparency and accountability.

Vicon Holdings Limited Issues Profit Warning Amid Competitive Pressures

Vicon Holdings Limited has issued a profit warning, indicating a significant decrease in profit after tax for the year ending March 2025, compared to the previous year. The expected decline of approximately 40.9% is attributed to the completion of high-value projects in the prior year, intense industry competition affecting new project margins, and the initial phases of new projects contributing less revenue.