Phoenix Asia Holdings Limited (PHOE) AI Stock Analysis
PHOE AI stock analysis summary
AI ResearchPhoenix Asia Holdings Limited (PHOE) provides substructure works, ground investigation, and foundation services in Hong Kong. After reaching $7.4M in FY2025, revenue contracted by 87.5% to $923,327 in FY2026, leading to a net loss of -$153,888. The company has a market cap of $382.6M and trades at an EV to EBITDA ratio of 589.0x.
- Market cap
- $382.6M
- Revenue (TTM)
- $7.2M
- P/E
- —
- 1Y return
- 17.8% S&P 500 16.8%
- Avg. target
- —
Bull case
- Revenue increased by 158.3% in FY2024 and 28.1% in FY2025, generating net income of $1.0M in FY2025.
- The balance sheet carries very low leverage with a debt-to-equity ratio of 0.01 and net cash of $105,511 as of June 30, 2026.
- The 1-year share price return of 17.8% outperformed the S&P 500 (SPY) return of 16.8%.
Bear case
- Annual revenue plunged 87.5% in FY2026 to $923,327, shifting operating margin to -16.8%.
- Operating cash flow turned negative at -$733,944 in FY2026, leaving only $113,839 in cash and short-term investments as of June 30, 2026.
- Valuation multiples remain elevated, with an EV to EBITDA of 589.0x compared to the sector peer median of 13.9x.
What Phoenix Asia does
Phoenix Asia Holdings Limited provides substructure works services in Hong Kong. Founded in 1990 and based in Kowloon Bay, Hong Kong, the company is a subsidiary of Phoenix Prosperity Investment Limited. It undertakes site formation, such as construction site clearance, demolition of existing structures, and reduction and stabilization of slopes. It also conducts ground investigation by drilling and running tests, as well as foundation works including excavation, lateral support, pile caps construction, earth works, structural steel works, and underground drainage. In addition, Phoenix Asia offers construction services, advisory, and supervision services for project owners, consultants, and contractors.
Growth and profitability
Revenue rose from $2.2M in FY2023 to $5.8M in FY2024 and peaked at $7.4M in FY2025 before declining 87.5% to $923,327 in FY2026, yielding a 3-year revenue CAGR of -25.4%. Gross margin dropped from 29.5% in FY2025 to 4.6% in FY2026, while operating margin fell from 17.6% to -16.8%. Net income shifted from $1.0M in FY2025 to -$153,888 in FY2026. For the trailing twelve months ended June 30, 2026, revenue stood at $7.2M with an operating margin of -38.6% and diluted EPS of -$0.06. In the latest quarter ended June 30, 2026, quarterly revenue grew 3.2% year-over-year, while quarterly earnings declined 76.1%.
Balance sheet and cash flow
As of June 30, 2026, Phoenix Asia Holdings held $113,839 in cash and short-term investments and $8,328 in total debt, resulting in net cash of $105,511. Shareholders' equity was $785,509 out of total assets of $934,074, with a debt-to-equity ratio of 0.01 and a current ratio of 5.46. In FY2026, operating cash flow was -$733,944, free cash flow was -$733,940, and capital expenditures were $4.
Valuation and performance
At a last close of $17.71 on October 16, 2026, Phoenix Asia Holdings has an enterprise value of $427.1M and a market capitalization of $382.6M. The stock trades at a price-to-sales ratio of 53.1x and an EV to EBITDA of 589.0x, both well above the median of its US-listed Industrials peers of 1.5x and 13.9x, respectively. The stock's price-to-book ratio is 69.5x. Over the past year, PHOE delivered a return of 17.8%, compared to a 16.8% 1-year return for the S&P 500 (SPY).
What analysts expect
There are no analyst rating counts, consensus price targets, or earnings estimates provided for Phoenix Asia Holdings Limited. Over the trailing twelve months ended June 30, 2026, diluted EPS was -$0.06. The stock last closed at $17.71 on October 16, 2026, trading 3.8% below its 200-day moving average.
Key risks and what to watch
- Revenue volatility is high, demonstrated by a 3-year revenue CAGR of -25.4% from FY2023 to FY2026.
- Cash reserves totaled $113,839 as of June 30, 2026, following negative free cash flow of -$733,940 in FY2026.
- High ownership concentration exists, with insiders holding 74.5% of shares while institutions hold 0.1%.
- Share prices have experienced extreme swings, ranging between a 52-week low of $9.76 and a 52-week high of $133.12.
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 PHOE AI stock analysis
This page is an AI-written research summary of Phoenix Asia Holdings Limited (PHOE). 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: PHOE income statement, PHOE balance sheet, PHOE key metrics, PHOE chart. See the PHOE stock overview for the latest quote and news.
PHOE AI stock analysis FAQ
What does Phoenix Asia Holdings Limited do?
Phoenix Asia Holdings Limited provides substructure engineering and construction services in Hong Kong, including site formation, slope stabilization, ground investigation, and foundation works.
Does PHOE pay a dividend?
No, Phoenix Asia Holdings Limited does not pay a dividend.
How did PHOE perform financially in FY2026?
In FY2026, revenue dropped 87.5% to $923,327, resulting in an operating margin of -16.8% and a net loss of -$153,888.
What is the valuation of PHOE compared to its peers?
PHOE trades at an EV to EBITDA of 589.0x and a price-to-sales of 53.1x, compared to medians of 13.9x and 1.5x, respectively, for its US-listed Industrials peers.