Garden Stage Limited (GSIW) AI Stock Analysis
GSIW AI stock analysis summary
AI ResearchGarden Stage Limited (GSIW) is a Hong Kong-based financial services provider engaged in securities dealing, brokerage, underwriting, and asset management. In FY2026, revenue increased 34.7% to $7.3M, but net losses widened to -$13.8M with an operating margin of -190.4%. The company holds $17.6M in cash and short-term investments against total debt of $80,705.
- Market cap
- $15.4M
- Revenue (TTM)
- $7.2M
- P/E
- —
- 1Y return
- -64.8% S&P 500 16.8%
- Avg. target
- —
Bull case
- Garden Stage Limited grew annual revenue by 34.7% to $7.3M in FY2026 after expanding 296.0% in FY2025.
- The balance sheet maintains $17.6M in cash and short-term investments against minimal total debt of $80,705 as of June 30, 2026.
- Shares trade at a price-to-book multiple of 0.9x, supported by $24.2M in shareholders' equity.
Bear case
- Net losses expanded to -$13.8M in FY2026, contributing to an operating margin of -190.4%.
- Free cash flow remained negative at -$4.3M in FY2026 following an operating cash outflow of -$4.2M.
- In the latest quarter ended June 30, 2026, quarterly revenue fell 17.9% year-over-year.
What Garden Stage does
Headquartered in Central, Hong Kong, Garden Stage Limited operates through subsidiaries to deliver financial services including securities dealing, brokerage, underwriting, and placement. Established in 2022 as a subsidiary of Oriental Moon Tree Limited, the firm serves diverse investment and asset management needs in Hong Kong. In addition to core securities and brokerage operations, Garden Stage Limited offers specialized asset management services, such as discretionary account management and fund management designed to optimize client portfolios and maximize returns. The company employs 20 people and seeks to expand its footprint across regional securities and asset management sectors.
Growth and profitability
Garden Stage Limited reported revenue of $296,286 in FY2022, $415,793 in FY2023, $1.4M in FY2024, $5.4M in FY2025, and $7.3M in FY2026, delivering a 5-year revenue CAGR of 3.9% from FY2021 to FY2026. While annual revenue grew 34.7% in FY2026, profitability remained deeply negative. Operating margin was -190.4% in FY2026, down from -80.0% in FY2025, and net income registered at -$13.8M with a net margin of -190.1%. For the trailing twelve months ended June 30, 2026, revenue was $7.2M with an operating margin of -190.4% and diluted EPS of -$1.38. In the latest quarter, quarterly revenue declined 17.9% year-over-year.
Balance sheet and cash flow
As of June 30, 2026, Garden Stage Limited held $17.6M in cash and short-term investments alongside total debt of $80,705, resulting in net cash of $17.5M. Total assets stood at $41.9M against shareholders' equity of $24.2M, with a debt-to-equity ratio of 0.00 and a current ratio of 326.02. Cash flows remain negative; in FY2026, operating cash flow was -$4.2M and free cash flow was -$4.3M, with capital expenditures of $104,716.
Valuation and performance
With a market cap of $15.4M and enterprise value of $14.1M, Garden Stage Limited trades at a price-to-sales multiple of 2.1x and an EV-to-revenue multiple of 2.0x, below the 3.2x price-to-sales median of its US-listed Financial Services peers. The stock trades at a price-to-book ratio of 0.9x. Shares closed at $10.50 on October 16, 2026, down 54.7% from their 200-day average and within a 52-week range of $8.00 to $42.00. Over the past year, GSIW generated a return of -64.8%, lagging the 16.8% return of the S&P 500 (SPY).
What analysts expect
Garden Stage Limited does not have analyst coverage, ratings, or consensus price targets reported. The company's next scheduled earnings report date is October 30, 2026. With institutional ownership at 2.5%, insider ownership at 0.0%, and short interest at 0.7% of float, market trading reflects a high beta of 4.12.
Key risks and what to watch
- Ongoing cash burn could pressure liquidity if free cash flow does not improve from the -$4.3M reported in FY2026.
- The stock exhibits elevated price volatility, marked by a beta of 4.12 and a 52-week range from $8.00 to $42.00.
- The company experienced a 1-year share price return of -64.8%, trailing the S&P 500's 16.8% gain over the same period.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this GSIW AI stock analysis
This page is an AI-written research summary of Garden Stage Limited (GSIW). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: GSIW income statement, GSIW balance sheet, GSIW key metrics, GSIW chart. See the GSIW stock overview for the latest quote and news.
GSIW AI stock analysis FAQ
What does Garden Stage Limited do?
Garden Stage Limited is a Hong Kong financial services firm offering securities dealing, brokerage, underwriting, placing, and asset management services.
What is GSIW's cash position?
As of June 30, 2026, the company held $17.6M in cash and short-term investments with total debt of $80,705, producing net cash of $17.5M.
Does Garden Stage Limited pay a dividend?
Garden Stage Limited does not report dividend payments.
When is Garden Stage Limited's next earnings date?
The next earnings date is scheduled for October 30, 2026.