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WAC Holdings Ltd.
(8619)
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Rating:67Neutral
Price Target:
HK$0.32
▲(77.78% Upside)
Action:Reiterated
Date:04/03/26
The score is held back mainly by weak recent cash generation (negative operating and free cash flow in 2024–2025) and uneven earnings quality, despite a strong low-leverage balance sheet. Offsetting positives are supportive technical momentum (price above key moving averages with positive MACD) and a very low P/E valuation.
Positive Factors
Stable specialized services
WAC’s core business is professional structural and geotechnical engineering consultancy serving public and private infrastructure and development projects. That service-based model produces multi-stage, often multi-year contracts and recurring client relationships, supporting durable revenue visibility tied to construction activity.
Negative Factors
Weak cash generation
Profits haven’t converted to cash recently, with OCF and free cash flow negative for two years. That undermines the company’s ability to self-fund projects, pay dividends, or build reserves, raising short-to-medium-term liquidity and execution risk despite low reported leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable specialized services
WAC’s core business is professional structural and geotechnical engineering consultancy serving public and private infrastructure and development projects. That service-based model produces multi-stage, often multi-year contracts and recurring client relationships, supporting durable revenue visibility tied to construction activity.
Read all positive factors
WAC Holdings Ltd. (8619) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$51.17M
Dividend YieldN/A
Average Volume (3M)387.15K
Price to Earnings (P/E)―
Beta (1Y)-0.03
Revenue Growth-25.25%
EPS Growth-302.52%
CountryHK
Employees172
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-1.02
Shares Outstanding433,635,000
10 Day Avg. Volume66,140
30 Day Avg. Volume387,153
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.95
Price to Sales (P/S)0.75
P/FCF Ratio0.00
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
WAC Holdings Ltd. Business Overview & Revenue Model
Company Description
WAC Holdings Limited operates as an engineering consultancy, delivering a full spectrum of structural and geotechnical engineering services throughout Hong Kong and Macau. The firm's structural expertise includes intricate loading calculations and...
How the Company Makes Money
WAC Holdings Ltd. generates revenue by providing professional engineering consultancy services to its clients. The company earns fees by charging for its services based on project contracts, which can be structured as time-based billing, fixed-pri...
WAC Holdings Ltd. Financial Statement Overview
Summary
Income Statement
55
Neutral
Balance Sheet
78
Positive
Cash Flow
34
Negative
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 77.95M | 104.27M | 100.98M | 86.90M | 79.12M |
| Gross Profit | 22.82M | 24.52M | 33.31M | 24.51M | 25.98M |
| EBITDA | -45.59M | 69.16M | 8.52M | 8.26M | -232.00K |
| Net Income | -138.85M | 64.51M | 3.72M | 1.87M | -4.65M |
Balance Sheet | |||||
| Total Assets | 134.46M | 243.42M | 154.98M | 137.81M | 120.39M |
| Cash, Cash Equivalents and Short-Term Investments | 20.91M | 16.36M | 40.32M | 41.16M | 38.60M |
| Total Debt | 11.38M | 9.44M | 6.82M | 9.30M | 4.51M |
| Total Liabilities | 70.52M | 46.10M | 39.19M | 45.85M | 30.43M |
| Stockholders Equity | 61.45M | 197.32M | 115.80M | 91.96M | 89.95M |
Cash Flow | |||||
| Free Cash Flow | 0.00 | -38.11M | -18.64M | 5.83M | 715.00K |
| Operating Cash Flow | 0.00 | -37.71M | -18.09M | 10.08M | 2.04M |
| Investing Cash Flow | 0.00 | 463.00K | 712.00K | -3.83M | -1.22M |
| Financing Cash Flow | 0.00 | 13.28M | 16.58M | -2.89M | -2.78M |
WAC Holdings Ltd. Technical Analysis
Negative
0.18
Price Trends
0.15
Negative
0.15
Negative
0.15
Negative
Market Momentum
>-0.01
Negative
42.71
Neutral
51.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:8619, the sentiment is Negative. The current price of 0.18 is above the 20-day moving average (MA) of 0.13, above the 50-day MA of 0.15, and above the 200-day MA of 0.15, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 42.71 is Neutral, neither overbought nor oversold. The STOCH value of 51.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:8619.
WAC Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | HK$51.17M | -0.13 | 28.32% | ― | -25.25% | -302.52% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
56 Neutral | HK$95.71M | 18.97 | 4.27% | 25.00% | 126.51% | ― | |
54 Neutral | HK$67.00M | 11.82 | -8.42% | ― | 9.25% | ― | |
45 Neutral | HK$92.99M | -0.97 | -47.12% | ― | -51.29% | 43.87% | |
42 Neutral | HK$35.93M | -1.87 | -17.44% | ― | -36.27% | -4.08% |
* Industrials Sector Average
HK:8619
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0.12
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-21.23%
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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.