Vicon Holdings Limited (3878) AI Stock Analysis

• Market Cap: HK$95.92M
• Dividend Yield: N/A
• Average Volume (3M): 145.20K
• Price to Earnings (P/E): 19.8
• Beta (1Y): 0.02
• 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: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: HK$0.26 ▲(10.87% Upside)

Vicon Holdings Limited's overall stock score is driven by its mixed financial performance and positive technical indicators. The company's financial stability is a strong point, but challenges in cash flow and profitability weigh on the score. Technical analysis suggests bullish momentum, though caution is advised due to potential overbought conditions. The valuation is moderate, with no dividend yield to attract income investors.

Positive Factors

Financial Stability

Vicon's low debt-to-equity ratio reflects strong financial stability, providing a solid foundation for long-term growth and resilience against economic fluctuations.

Diversified Revenue Streams

The diversified revenue model reduces dependency on a single income stream, enhancing resilience and potential for steady earnings across economic cycles.

Strong Equity Base

A strong equity base indicates robust financial health, supporting the company's capacity to invest in growth opportunities and withstand financial pressures.

Negative Factors

Declining Cash Flow

Declining cash flow growth limits Vicon's ability to fund new projects and manage liquidity, potentially hindering long-term strategic initiatives and operational flexibility.

Profitability Challenges

Pressure on profit margins indicates challenges in maintaining profitability, which can affect the company's ability to reinvest in growth and improve shareholder returns.

Revenue Growth Decline

Fluctuating revenue growth suggests instability in market demand or competitive positioning, potentially impacting long-term revenue sustainability and market share.

Vicon Holdings Limited Business Overview & Revenue Model

Company Description

Vicon Holdings Limited (3878) is a Hong Kong-based investment holding company primarily engaged in the manufacturing and sale of high-quality consumer electronics and electrical products. The company operates in various sectors, including home appliances, personal care, and health-related products. Vicon Holdings focuses on innovation and quality, providing a diverse range of products that cater to both retail and wholesale markets, positioning itself as a key player in the competitive electronics landscape.

How the Company Makes Money

Vicon Holdings Limited generates revenue through multiple streams, primarily from the manufacturing and sale of its consumer electronics and home appliances. The company's revenue model includes direct sales to retailers, online sales through e-commerce platforms, and partnerships with distributors across various regions. Additionally, Vicon benefits from strategic alliances with suppliers and manufacturers that enhance its production capabilities and reduce costs. The company's focus on innovation and quality allows it to maintain competitive pricing and attract a loyal customer base, contributing to its overall profitability.

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	13.12M	-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: Positive
• Last Price: 0.23
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• 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 Positive. The current price of 0.23 is below the 20-day moving average (MA) of 0.23, above the 50-day MA of 0.22, and above the 200-day MA of 0.19, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 52.52 is Neutral, neither overbought nor oversold. The STOCH value of 27.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:3878.

Vicon Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1343	69 Neutral	HK$120.23M	10.27	3.56%	―	-5.73%	547.06%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
3878	63 Neutral	HK$95.92M	19.80	1.45%	―	-19.27%	-47.47%
1413	47 Neutral	HK$127.40M	-1.33	-40.10%	―	-70.99%	-2916.67%
8217	45 Neutral	HK$78.48M	―	52.51%	―	-32.25%	―
6816	44 Neutral	HK$180.00M	―	-98.05%	―	14.57%	13.79%

Vicon Holdings Limited Corporate Events

Vicon Holdings Reports Stable Profit Amid Revenue Decline

Vicon Holdings Limited reported its unaudited interim results for the six months ended September 30, 2025, indicating a decrease in revenue from HK$165,888,000 in 2024 to HK$119,098,000 in 2025. Despite the drop in revenue, the company managed to maintain profitability with a net profit of HK$5,566,000, down from HK$6,420,000 in the previous year. The results reflect a challenging market environment, but the company has managed to keep its financial position stable, with total assets less current liabilities standing at HK$276,886,000.

Vicon Holdings Limited Schedules Board Meeting to Review Interim Results

Vicon Holdings Limited has announced a board meeting scheduled for November 26, 2025, to review and approve the unaudited interim results for the six months ending September 30, 2025. The meeting will also consider the payment of an interim dividend, which could have implications for the company’s financial strategy and shareholder returns.

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.