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
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
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.
The price-to-earnings ratio has risen from 8.8× (Apr '24) to 67.3× (Nov '26).
The price-to-sales ratio has fallen from 0.2× (Apr '24) to 0.2× (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
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.