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NCI Financials Neo-Concept International Group Holdings Ltd

5 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings, in HKD as reported — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has declined 13.1% per year over the past 4 years.
  • Net income has grown slower than revenue (-50.3% vs -13.1% per year).
  • Operating margin has been roughly flat, at 1.3% in the latest year.
  • Free cash flow has grown 14.3% per year over the past 4 years.

Financial health

  • Total debt (HK$5M) exceeds cash (HK$2M); net debt is HK$2M.
  • Total debt has grown slower than revenue (-61.7% vs -13.1% per year).
  • Total debt is 2.6× EBITDA.
Revenue & net income
HK$0 HK$174M HK$347M 2021 2022 2023 2024 2025
RevenueNet income
Margins (gross / operating / net)
0% 18% 37% 2021 2022 2023 2024 2025
GrossOperatingNet
Return on equity & assets (ROE / ROA)
-185% -78% 30% 0% 2021 2022 2023 2024 2025
ROEROA
Free cash flow (CFO − capex)
-HK$50M -HK$16M HK$17M HK$0 2021 2022 2023 2024 2025
Free cash flow
Cash vs total debt
HK$0 HK$42M HK$84M 2021 2022 2023 2024 2025
CashTotal debt
Cash flow: operating / investing / financing
-HK$49M HK$491684 HK$50M HK$0 2021 2022 2023 2024 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MROEROAFCFTotal debtCash
2025 HK$137M HK$331679 36.9% 1.3% 0.6% 0.3% HK$17M HK$5M HK$2M
2024 HK$236M HK$8M 21.0% 4.9% 14.2% 5.9% -HK$4M HK$27M HK$9M
2023 HK$174M HK$4M 20.1% 5.2% -185.0% 4.9% -HK$50M HK$31M HK$6M
2022 HK$347M HK$12M 12.0% 5.4% -20.4% 29.6% -HK$43M HK$84M HK$9M
2021 HK$241M HK$5M 9.4% 1.9% -7.2% — HK$10M — —

Valuation over time

How the market has priced NCI against its own fundamentals since 2024-04 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 610.9 1221.7 Apr '24 Aug '24 Dec '24 Apr '25 Aug '25 Dec '25 Apr '26 Aug '26
P/E
Price / sales (P/S)
0.0 1.5 3.0 Apr '24 Aug '24 Dec '24 Apr '25 Aug '25 Dec '25 Apr '26 Aug '26
P/S

Frequently asked questions

Is NCI growing its revenue and profit?

Over the past 4 years, Neo-Concept International Group Holdings Ltd's revenue has declined 13.1% per year, and net income declined 50.3% per year. These are computed facts, not advice.

How much debt does NCI have?

As of FY2025, Neo-Concept International Group Holdings Ltd reported HK$5M of total debt against HK$2M of cash.

What is NCI's profit margin?

In FY2025, gross margin was 36.9%, operating margin 1.3%, and net margin 0.2%.

What is NCI's P/E ratio?

Neo-Concept International Group Holdings Ltd's P/E (TTM) is 67.29 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the NCI stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 67.3× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — its annual and interim reports, in HKD as reported (valuation multiples convert at the Federal Reserve H.10 rate of each date, via FRED) (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (annual and interim filings, reported in HKD) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · FX: Federal Reserve H.10 via FRED (DEXHKUS; 1 HKD = 0.1275 USD on 2026-10-30), the rate of each date for the valuation history · This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis. · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.