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Dickson Concepts (International)
(0113)
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Rating:71Outperform
Price Target:
HK$6.50
â–²(8.33% Upside)
Action:Reiterated
Date:10/12/26
The score is driven primarily by solid financials (improving 2026 margins and a de-risked balance sheet) and attractive valuation (low P/E and high dividend yield). These positives are tempered by mixed cash-flow consistency and weaker near-term technical momentum (below key moving averages with negative MACD).
Positive Factors
Improving Profitability
Higher gross and net margins show improved profitability in the latest period, strengthening the earnings contribution from the company’s venue portfolio. If maintained, this improvement can support reinvestment, provide greater resilience against operating costs, and improve internal cash generation over the next several quarters.
Negative Factors
Modest Revenue Growth
Recent revenue expansion has been limited and follows a decline in the prior year, indicating that demand and venue performance have not followed a consistently accelerating path. Modest top-line growth can constrain operating leverage, limit margin expansion, and make future earnings more dependent on cost control.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Profitability
Higher gross and net margins show improved profitability in the latest period, strengthening the earnings contribution from the company’s venue portfolio. If maintained, this improvement can support reinvestment, provide greater resilience against operating costs, and improve internal cash generation over the next several quarters.
Read all positive factors
Dickson Concepts (International) (0113) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$2.26B
Dividend Yield9.4%
Average Volume (3M)53.79K
Price to Earnings (P/E)9.0
Beta (1Y)0.28
Revenue Growth3.51%
EPS Growth27.91%
CountryHK
Employees593
SectorConsumer Cyclical
Sector Strength84
IndustryLuxury Goods
Share Statistics
EPS (TTM)0.65
Shares Outstanding386,059,300
10 Day Avg. Volume44,966
30 Day Avg. Volume53,793
Financial Highlights & Ratios
PEG Ratio0.35
Price to Book (P/B)0.65
Price to Sales (P/S)1.21
P/FCF Ratio6.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Dickson Concepts (International) Business Overview & Revenue Model
Company Description
Dickson Concepts (International) Limited operates as an investment holding company with a core focus on the retail and distribution of high-end luxury merchandise. Its business operations are bifurcated into two primary segments: the sale of luxur...
How the Company Makes Money
Dickson Concepts primarily makes money by operating hospitality venues and monetizing customer spend on food and beverages sold through its restaurants and bars. Revenue is generated from (1) on-premise dining and beverage sales (including alcohol...
Dickson Concepts (International) Financial Statement Overview
Summary
Income Statement
71
Positive
Balance Sheet
78
Positive
Cash Flow
58
Neutral
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.99B | 1.92B | 2.40B | 2.13B | 2.02B |
| Gross Profit | 946.74M | 859.10M | 1.10B | 996.11M | 947.04M |
| EBITDA | 340.74M | 374.08M | 553.97M | 453.35M | 398.04M |
| Net Income | 248.94M | 198.01M | 350.77M | 252.64M | 200.94M |
Balance Sheet | |||||
| Total Assets | 5.10B | 4.88B | 5.36B | 5.60B | 5.81B |
| Cash, Cash Equivalents and Short-Term Investments | 4.31B | 4.02B | 4.12B | 3.55B | 3.36B |
| Total Debt | 924.40M | 963.33M | 1.31B | 1.70B | 1.95B |
| Total Liabilities | 1.41B | 1.35B | 1.79B | 2.21B | 2.51B |
| Stockholders Equity | 3.69B | 3.53B | 3.57B | 3.39B | 3.30B |
Cash Flow | |||||
| Free Cash Flow | 354.63M | -213.83M | 361.22M | 378.15M | 426.54M |
| Operating Cash Flow | 380.18M | -188.90M | 385.64M | 426.56M | 467.20M |
| Investing Cash Flow | 254.52M | 623.04M | 606.44M | 104.31M | -585.53M |
| Financing Cash Flow | -271.02M | -618.14M | -666.91M | -591.63M | -107.50M |
Dickson Concepts (International) Technical Analysis
Negative
6.00
Price Trends
6.07
Negative
6.03
Negative
5.82
Positive
Market Momentum
-0.04
Negative
42.51
Neutral
56.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0113, the sentiment is Negative. The current price of 6 is above the 20-day moving average (MA) of 5.90, below the 50-day MA of 6.07, and above the 200-day MA of 5.82, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 42.51 is Neutral, neither overbought nor oversold. The STOCH value of 56.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0113.
Dickson Concepts (International) Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | HK$2.25B | 3.91 | 9.96% | 6.58% | 8.83% | 109.28% | |
77 Outperform | HK$1.55B | 8.62 | 9.99% | 6.17% | -0.78% | -10.18% | |
76 Outperform | HK$9.30B | 3.20 | 19.31% | 7.73% | 16.22% | 151.59% | |
71 Outperform | HK$2.26B | 9.00 | 6.71% | 9.40% | 3.51% | 27.91% | |
69 Neutral | HK$13.17B | 6.45 | 14.28% | 7.00% | 28.96% | 86.00% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | HK$110.31B | 12.15 | 33.61% | 5.99% | 5.29% | 53.87% |
* Consumer Cyclical Sector Average
HK:0113
Dickson Concepts (International)
5.85
1.13
23.86%
HK:0116
Chow Sang Sang Holdings International
13.84
0.96
7.45%
HK:1929
Chow Tai Fook Jewellery Group
11.18
-3.18
-22.12%
HK:0887
Emperor Watch & Jewellery
0.31
0.05
19.23%
HK:0590
Luk Fook Holdings (International)
22.44
-1.01
-4.31%
HK:0398
Oriental Watch Holdings
3.19
0.13
4.25%
Dickson Concepts (International) Corporate Events
Dickson Concepts Renews S.T. Dupont China Apparel License
Sep 25, 2026
Dickson Concepts has renewed an exclusive licensing agreement through its subsidiary Brands Investment Limited with STDSA to distribute S.T. Dupont ready-to-wear apparel in the PRC, excluding Hong Kong, for one year from 1 October 2026 to 30 Septe...
Dickson Concepts Clarifies Harvey Nichols UK Sale Has No Impact on Group Operations
Aug 19, 2026
Dickson Concepts (International) Limited has disclosed that Executive Director and Chief Operating Officer Dickson Pearson Guanda Poon oversaw the completed sale of the business and assets of Harvey Nichols Group Limited and its subsidiaries in th...
Dickson Concepts says U.K. Harvey Nichols sale will not affect Hong Kong operations
Aug 13, 2026
Dickson Concepts (International) moved to reassure investors after Harvey Nichols Group in the U.K. completed a sale of its business and assets on 13 August 2026. The company stressed that the U.K. entity is entirely separate, with no equity, loan...
Dickson Concepts Wins Strong Shareholder Backing at 2026 AGM
Aug 6, 2026
Dickson Concepts (International) reported that all resolutions at its 6 August 2026 annual general meeting were approved by shareholders by poll, including the adoption of the 2025-26 financial statements, a final dividend, and the re-election of ...
Dickson Concepts Faces Adverse Market Misconduct Tribunal Findings on Disclosure and Insider Dealing
Jul 31, 2026
Dickson Concepts has disclosed that Hong Kong’s Market Misconduct Tribunal has issued a report on proceedings involving the company, controlling shareholder Sir Dickson Poon, executive director Pearson Poon, and EAL over alleged disclosure b...
Dickson Concepts Renews Harvey Nichols Licensing Deals With Connected Parties
Jul 20, 2026
Dickson Concepts (International) has renewed a key licensing arrangement at the PP Harvey Nichols Store, with its subsidiary DCRL granting PWCL a one‑year licence over a 1,975 sq. ft sales corner from 22 July 2026 to 21 July 2027. The monthl...
Dickson Concepts Updates Bermuda Registered Office and Share Registrar Details
Jul 20, 2026
Dickson Concepts (International) Limited has announced that, effective 3 August 2026, its registered office and principal share registrar in Bermuda will relocate to Richmond House, 12 Par-la-Ville Road, Hamilton HM 08. This change updates the cor...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.