AMTD Digital Inc. (HKD) AI Stock Analysis

NYSE: HKDAI research summary: business, growth, valuation, analysts, bull and bear case.

HKD AI stock analysis summary

AI Research

AMTD Digital Inc. (HKD) is a Hong Kong-based digital solutions provider operating across financial services, media, and corporate ecosystem solutions. In FY2026, the company generated $59.0M in revenue, marking 151.8% annual growth alongside a net margin of 92.7%. However, its 5-year revenue CAGR from FY2021 to FY2026 stands at -21.3%, reflecting substantial top-line volatility.

Market cap
$528.0M
Revenue (TTM)
$136.1M
P/E
9.3x
1Y return
-1.8%
S&P 500 16.8%
Avg. target
—

Bull case

  • Trailing twelve months revenue rose sharply, supported by quarterly revenue growth of 340.9% and quarterly earnings growth of 81.0% in the latest quarter.
  • The company maintains high profitability metrics, including a trailing twelve months operating margin of 60.5% and a return on equity of 25.4%.
  • Valuation multiples appear low relative to peers, with a trailing P/E of 9.3x compared to 28.1x for the median of its US-listed Technology peers.

Bear case

  • Long-term revenue performance has contracted, evidenced by a 5-year revenue CAGR of -21.3% from FY2021 to FY2026.
  • The balance sheet carries significant leverage, with net debt of $270.4M and a debt-to-equity ratio of 1.22 as of January 31, 2026.
  • Existing shareholders have experienced dilution, with the share count increasing by 84.5% over the 5-year period.

What AMTD Digital does

AMTD Digital Inc., a subsidiary of AMTD IDEA Group, creates digital solutions across financial services, media, content, marketing, and investments within the Asian market. The company operates through three segments: SpiderNet Ecosystem Solutions, Digital Financial Services, and Corporate. Through its SpiderNet ecosystem, it enhances investor communication and corporate relations to strengthen market presence. Its digital banking and insurance platforms serve both consumers and small to medium-sized enterprises with financial management tools and insurance solutions. Additionally, AMTD Digital provides portfolio monitoring tools that deliver real-time tracking, competitive analysis, risk assessment, and financial insights.

Growth and profitability

AMTD Digital has experienced wide fluctuations in its financial results over recent fiscal years. Revenue dropped from $198.4M in FY2022 to $33.1M in FY2023, reached $49.9M in FY2024, fell to $23.4M in FY2025, and rebounded to $59.0M in FY2026. Across this period, the 5-year revenue CAGR from FY2021 to FY2026 was -21.3%. Net income was $54.7M in FY2026, representing a net margin of 92.7% and an operating margin of 15.5%. For the trailing twelve months ended January 31, 2026, revenue stood at $136.1M with an operating margin of 60.5% and EPS of $0.18, supported by quarterly revenue growth of 340.9% and quarterly earnings growth of 81.0%.

HKD income statement →

Balance sheet and cash flow

As of January 31, 2026, AMTD Digital held $54.4M in cash and short-term investments against total debt of $324.7M, yielding net debt of $270.4M. Shareholders' equity was $265.8M, resulting in a debt-to-equity ratio of 1.22 and a current ratio of 1.92. Total assets stood at $955.4M. For FY2026, the company produced $14.4M in operating cash flow and $14.3M in free cash flow, while capital expenditures were limited to $60,000. Over the past 5 years, the company's share count expanded by 84.5%.

HKD balance sheet →

Valuation and performance

At a share price of $1.68 on October 16, 2026, AMTD Digital trades at a market cap of $528.0M and an enterprise value of $804.6M. Its trailing P/E of 9.3x and EV/EBITDA of 6.8x sit below the median of its US-listed Technology peers at 28.1x and 16.6x, respectively. The company trades at a price-to-sales multiple of 3.9x compared to the peer median of 2.8x. Over the past year, the stock fell 1.8%, lagging the S&P 500 return of 16.8%, though its year-to-date return reached 32.3%.

HKD key metrics →

What analysts expect

AMTD Digital currently has no published Wall Street research analyst ratings, consensus earnings estimates, or 12-month price targets available. Historical earnings surprise track records and scheduled future earnings reporting dates are also not provided for the company. Institutional ownership remains limited at 0.3%, with insider ownership at 0.0% and short interest accounting for 0.3% of the float as the stock trades at $1.68.

Key risks and what to watch

  • High stock price volatility is reflected in a beta of 1.96 alongside a 52-week trading range spanning from $1.26 to $5.47.
  • Annual revenue has shown extreme instability, declining from $198.4M in FY2022 to $23.4M in FY2025 before rising to $59.0M in FY2026.
  • The company faces debt obligations with total debt of $324.7M relative to cash and short-term investments of $54.4M.
  • Annual free cash flow has varied widely, falling from $80.4M in FY2022 to $525,377 in FY2025 before reaching $14.3M in FY2026.

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 HKD AI stock analysis

This page is an AI-written research summary of AMTD Digital Inc. (HKD). 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: HKD income statement, HKD balance sheet, HKD key metrics, HKD chart. See the HKD stock overview for the latest quote and news.

HKD AI stock analysis FAQ

What does AMTD Digital do?

AMTD Digital Inc. develops digital solutions in Asia across financial services, media, marketing, and investments, structured into SpiderNet Ecosystem Solutions, Digital Financial Services, and Corporate segments.

What are AMTD Digital's latest revenue and earnings figures?

For the trailing twelve months, AMTD Digital generated $136.1M in revenue and an EPS of $0.18, alongside an operating margin of 60.5%.

Does AMTD Digital pay a dividend?

AMTD Digital does not report any dividend payments in its financial data.

How much debt does AMTD Digital have?

As of January 31, 2026, the company held total debt of $324.7M and net debt of $270.4M, compared to cash and short-term investments of $54.4M.

How has AMTD Digital stock performed recently?

As of October 16, 2026, the stock closed at $1.68, achieving a year-to-date return of 32.3% while declining 1.8% over the trailing 1-year period.

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