Vicon Holdings Limited (3878) AI Stock Analysis

• Market Cap: HK$104.07M
• Dividend Yield: N/A
• Average Volume (3M): 145.20K
• Price to Earnings (P/E): 4.6
• Beta (1Y): >-0.01
• Revenue Growth: -19.27%
• EPS Growth: -47.47%
• Country: HK
• Employees: 22
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 0.01
• Shares Outstanding: 479,600,000
• 10 Day Avg. Volume: 125,600
• 30 Day Avg. Volume: 145,200
• PEG Ratio: -0.45
• Price to Book (P/B): 0.33
• Price to Sales (P/S): 0.29
• P/FCF Ratio: 11.10
• 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: 63 Neutral
• Price Target: HK$0.23 ▼(-3.75% Downside)
• Action: Reiterated Date: 03/24/26
• Date: Action: Reiterated 03/24/26

The score is driven mainly by financial quality: a strong, low-debt balance sheet supports resilience, but thin profitability and volatile/declining recent cash flow reduce confidence. Valuation is a clear positive due to the low P/E, while technical signals are broadly neutral with slightly weak momentum.

Positive Factors

Conservative balance sheet

The company’s very low debt-to-equity (~3%) and sizeable equity base provide durable financial flexibility and downside protection. Over 2–6 months this conservatism supports resilience to project timing, allows bidding for contracts without heavy refinancing risk, and preserves liquidity for opportunistic investments.

Negative Factors

Thin and compressed margins

Very slim gross and net margins constrain the company’s ability to absorb cost inflation or bid competitively while maintaining returns. Over several months this margin pressure limits reinvestment, reduces buffer against project cost overruns, and keeps ROE low, weakening long-term capital efficiency.

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 ...

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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 ...

How the Company Makes Money

Vicon Holdings Limited generates revenue by providing foundation construction services to its clients, comprising property developers, contractors, and the government. The company typically earns money through contracts for large-scale constructio...

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Vicon Holdings Limited generates revenue by providing foundation construction services to its clients, comprising property developers, contractors, and the government. The company typically earns money through contracts for large-scale constructio...

Vicon Holdings Limited Financial Statement Overview

Breakdown	TTM	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement
Total Revenue	257.13M	303.92M	486.64M	417.04M	156.59M	254.63M
Gross Profit	17.51M	20.62M	43.95M	43.58M	33.16M	-38.46M
EBITDA	12.81M	15.56M	17.43M	13.12M	-5.10M	-25.85M
Net Income	3.98M	4.83M	8.27M	2.39M	-24.56M	-51.51M
Balance Sheet
Total Assets	312.16M	324.41M	308.42M	338.93M	335.19M	405.05M
Cash, Cash Equivalents and Short-Term Investments	169.85M	60.41M	39.48M	18.63M	25.48M	14.61M
Total Debt	338.00K	8.50M	8.78M	11.02M	23.29M	93.05M
Total Liabilities	35.28M	53.09M	41.93M	80.71M	79.36M	144.02M
Stockholders Equity	276.89M	271.32M	266.49M	258.22M	255.83M	261.03M
Cash Flow
Free Cash Flow	123.55M	8.03M	38.50M	-17.77M	29.14M	60.63M
Operating Cash Flow	125.95M	10.75M	39.72M	-14.51M	34.44M	61.67M
Investing Cash Flow	-129.50M	-14.04M	-19.83M	22.89M	30.29M	10.78M
Financing Cash Flow	-8.61M	-1.92M	-2.89M	-15.22M	-53.87M	-80.41M

Vicon Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.24
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 0.24 is above the 20-day moving average (MA) of 0.24, above the 50-day MA of 0.24, and above the 200-day MA of 0.21, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 32.30 is Neutral, neither overbought nor oversold. The STOCH value of 12.37 is Positive, 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	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
3878	63 Neutral	HK$104.07M	4.63	1.45%	―	-19.27%	-47.47%
1343	58 Neutral	HK$142.58M	4.54	3.57%	―	-5.73%	547.06%
8217	48 Neutral	HK$92.07M	0.92	57.15%	―	-32.25%	―
6816	45 Neutral	HK$152.00M	-0.35	-98.05%	―	14.57%	13.79%
1413	43 Neutral	HK$114.80M	-1.14	-47.12%	―	-70.99%	-2956.76%