RMH Holdings Limited (8437) AI Stock Analysis

• Market Cap: HK$17.32M
• Dividend Yield: N/A
• Average Volume (3M): 3.11K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.24
• Revenue Growth: 14.64%
• EPS Growth: -81.95%
• Country: HK
• Employees: 45
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Care Facilities
• EPS (TTM): -0.03
• Shares Outstanding: 66,600,000
• 10 Day Avg. Volume: 4,840
• 30 Day Avg. Volume: 3,106
• PEG Ratio: >-0.01
• Price to Book (P/B): -0.15
• Price to Sales (P/S): 0.59
• P/FCF Ratio: 26.41
• 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: 41 Neutral
• Price Target: HK$0.24 ▼(-27.58% Downside)

The score is driven primarily by very weak financial performance (declining revenue, persistent losses, negative equity, and weak cash generation). Technical indicators are also unfavorable (price below key short-term averages, negative MACD, very low RSI). Valuation is constrained by negative earnings and no dividend data.

Positive Factors

Diversified Business Mix

A multi‑sector investment model spreads revenue sources across real estate rents, management fees and tech dividends. That structural diversification can smooth cash flow cycles, enable capital allocation across opportunities, and reduce single‑sector exposure over months.

Recent Revenue Momentum

Reported positive revenue growth indicates an early recovery in top‑line momentum versus prior weakness. If sustained, improving sales capacity supports operating leverage, enhances near‑term cash generation and provides runway for margin repair and selective reinvestment.

Improving Cash Flow Trends

Measured improvements in operating and free cash flow reflect progress on cash conversion. Even modest, persistent cash flow improvement reduces short‑term liquidity strain, increases options for deleveraging or funding core operations, and supports gradual balance sheet repair.

Negative Factors

Negative Shareholders' Equity

Negative equity is a structural solvency red flag that limits access to conventional capital, increases refinancing and covenant risk, and may force asset sales or recapitalization. This weakens long‑term financial flexibility and heightens execution risk over months.

Persistent Operating Losses

Multi‑year revenue contraction and repeated negative EBIT/net income indicate structural demand or execution issues. Ongoing losses erode equity and limit reinvestment capacity, meaning profitability restoration requires sustained operational fixes rather than short‑term swings.

Insufficient Cash Generation

Despite some improvement, cash flows are still insufficient to meet financing requirements, forcing reliance on external funding. This structural shortfall raises refinancing and liquidity risk, constrains capital expenditures and strategic initiatives, and pressures solvency over time.

RMH Holdings Limited Business Overview & Revenue Model

Company Description

RMH Holdings Limited, an investment holding company, provides medical, dermatological, and aesthetic products and services in Singapore, Hong Kong, and internationally. The company operates in two segments, Healthcare service and Trading sales. It provides specialty care services for various dermatological conditions affecting skin, hair, and nails through medical, surgical, laser, and aesthetic treatments. The company also engages in treating skin cancer and skin diseases, such as eczema, psoriasis, acne, pigmentation, adverse drug reactions, and warts; and providing consultancy, prescription, and dispensing services. In addition, it engages in the trading of health supplement products and medical products, including hand sanitizers, disposal medical masks, and other medical products. The company operates seven dermatology and surgery clinics, one aesthetic and laser center, one multi-specialists center, and one regenerative medicine center. RMH Holdings Limited was incorporated in 2017 and is headquartered in Singapore.

How the Company Makes Money

RMH Holdings Limited generates revenue primarily through its investments in multiple sectors. Its core revenue streams include rental income from its real estate properties, management fees from its financial services segment, and dividends from its portfolio companies in the technology sector. Additionally, the company may benefit from capital gains realized upon the sale of its investments. Strategic partnerships and collaborations with other firms enhance its market position and can lead to joint ventures, further contributing to its earnings.

RMH Holdings Limited Financial Statement Overview

Summary

Very weak fundamentals: multi-year revenue decline with significant negative EBIT and net income, negative shareholders’ equity indicating elevated solvency risk, and operating/free cash flow that has improved only modestly and remains insufficient versus needs.

Income Statement

RMH Holdings Limited shows a consistent decline in revenue from 2019 to 2024, with significant negative EBIT and net income in recent years. The gross profit margin is positive, but net profit margins are severely negative, indicating operational inefficiencies and high costs. Revenue growth remains negative, reflecting challenges in maintaining sales momentum.

Balance Sheet

The balance sheet reflects a concerning financial structure with negative stockholders' equity and high total liabilities exceeding assets, indicating potential insolvency risks. The debt-to-equity ratio is non-meaningful due to negative equity, emphasizing financial instability. The equity ratio is negative, further highlighting balance sheet weaknesses.

Cash Flow

Operating cash flow has improved slightly but remains low relative to net income, indicating cash flow issues. Free cash flow has shown improvements, but the free cash flow to net income ratio remains weak. Despite minor improvements, cash flow generation is inadequate to cover financing needs.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.22M	5.04M	3.18M	4.24M	238.00K	7.81M
Gross Profit	-1.01M	3.15M	1.54M	707.00K	-2.05M	5.12M
EBITDA	-3.85M	-2.60M	-5.00M	-7.84M	-2.59M	-6.47M
Net Income	-5.06M	-3.51M	-6.75M	-18.65M	-8.79M	-9.27M
Balance Sheet
Total Assets	4.92M	3.97M	4.15M	12.40M	18.91M	20.49M
Cash, Cash Equivalents and Short-Term Investments	557.00K	566.00K	306.00K	2.12M	2.75M	4.93M
Total Debt	4.10M	4.28M	258.00K	5.35M	11.06M	11.76M
Total Liabilities	29.12M	28.38M	16.67M	18.69M	14.34M	14.96M
Stockholders Equity	-19.27M	-19.50M	-12.41M	-6.29M	4.57M	5.53M
Cash Flow
Free Cash Flow	-8.51M	113.00K	368.00K	-6.41M	-7.33M	-6.64M
Operating Cash Flow	-8.50M	114.00K	781.00K	-5.09M	-6.13M	-4.51M
Investing Cash Flow	6.61M	142.00K	1.52M	-3.28M	-506.00K	-6.69M
Financing Cash Flow	1.06M	-4.00K	-2.46M	6.65M	3.82M	3.47M

RMH Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.33
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:8437, the sentiment is Negative. The current price of 0.33 is above the 20-day moving average (MA) of 0.30, above the 50-day MA of 0.33, and above the 200-day MA of 0.21, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 26.00 is Positive, neither overbought nor oversold. The STOCH value of 48.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:8437.

RMH Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2293	75 Outperform	HK$197.21M	11.19	7.84%	8.00%	-21.50%	-43.25%
8357	61 Neutral	HK$99.22M	-13.47	-10.31%	―	-11.68%	-71.01%
8307	58 Neutral	HK$79.35M	-60.61	-19.93%	―	-2.91%	55.41%
8161	53 Neutral	HK$22.05M	2.46	125.77%	―	-20.81%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
8143	42 Neutral	HK$193.90M	-6.44	-132.60%	―	-30.45%	-734.38%
8437	41 Neutral	HK$17.32M	-0.58	―	―	14.64%	-81.95%