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ICO Group Limited
(1460)
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Rating:60Neutral
Price Target:
HK$0.28
â–¼(-7.33% Downside)
Action:Reiterated
Date:07/27/26
The score is driven primarily by mixed financial performance: a strong, low-debt balance sheet is offset by the 2026 revenue contraction and a material deterioration in operating/free cash flow. Valuation is a supportive factor (low P/E and solid yield), but technical indicators remain slightly weak, limiting near-term conviction.
Positive Factors
Conservative Balance Sheet
Very low and improving leverage reduces refinancing and interest-burden risk, giving ICO greater resilience if operating conditions weaken. Growing equity adds a cushion for ongoing operations and preserves financial flexibility for investment or shareholder returns.
Negative Factors
Latest Revenue Contraction
The approximately 18.8% revenue decline in 2026 interrupts the company’s prior expansion and raises concern about demand, project volumes, or business momentum. A smaller revenue base can reduce operating leverage and make it harder to sustain profit and investment capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low and improving leverage reduces refinancing and interest-burden risk, giving ICO greater resilience if operating conditions weaken. Growing equity adds a cushion for ongoing operations and preserves financial flexibility for investment or shareholder returns.
Read all positive factors
ICO Group Limited (1460) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$228.17M
Dividend Yield4.04%
Average Volume (3M)336.37K
Price to Earnings (P/E)5.5
Beta (1Y)0.43
Revenue Growth4.74%
EPS Growth11.95%
CountryHK
Employees365
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)0.04
Shares Outstanding877,590,330
10 Day Avg. Volume329,920
30 Day Avg. Volume336,373
Financial Highlights & Ratios
PEG Ratio0.53
Price to Book (P/B)0.30
Price to Sales (P/S)0.15
P/FCF Ratio-5.06
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
ICO Group Limited Business Overview & Revenue Model
Company Description
ICO Group Limited functions as an investment holding firm, specializing in providing information technology (IT) application services to institutional and corporate clients across Hong Kong and internationally. The company structures its diverse o...
ICO Group Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
41
Neutral
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.19B | 1.14B | 1.08B | 877.32M | 712.45M |
| Gross Profit | 267.56M | 230.22M | 209.45M | 173.74M | 131.03M |
| EBITDA | 69.55M | 62.19M | 53.94M | 40.56M | 37.46M |
| Net Income | 28.81M | 25.70M | 16.69M | 10.97M | 8.12M |
Balance Sheet | |||||
| Total Assets | 1.11B | 1.06B | 954.51M | 865.14M | 777.45M |
| Cash, Cash Equivalents and Short-Term Investments | 272.07M | 375.97M | 306.62M | 216.92M | 107.42M |
| Total Debt | 37.02M | 57.34M | 62.55M | 57.58M | 59.56M |
| Total Liabilities | 485.81M | 482.66M | 389.27M | 314.84M | 222.73M |
| Stockholders Equity | 602.05M | 562.60M | 537.70M | 530.99M | 530.98M |
Cash Flow | |||||
| Free Cash Flow | -36.26M | 85.23M | 93.61M | 121.01M | -40.08M |
| Operating Cash Flow | -35.37M | 88.35M | 96.42M | 121.40M | -39.91M |
| Investing Cash Flow | 11.24M | 81.56M | -83.29M | 1.44M | 10.97M |
| Financing Cash Flow | -46.18M | -29.60M | -13.81M | -12.81M | 30.89M |
ICO Group Limited Technical Analysis
Positive
0.30
Price Trends
0.25
Positive
0.24
Positive
0.25
Positive
Market Momentum
<0.01
Negative
77.40
Negative
87.22
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1460, the sentiment is Positive. The current price of 0.3 is above the 20-day moving average (MA) of 0.25, above the 50-day MA of 0.25, and above the 200-day MA of 0.25, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 77.40 is Negative, neither overbought nor oversold. The STOCH value of 87.22 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1460.
ICO Group Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | HK$495.57M | 5.42 | 6.36% | 4.63% | 8.20% | 286.36% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | HK$621.18M | -2.45 | -11.90% | 4.05% | 4.44% | -266.43% | |
60 Neutral | HK$228.17M | 5.46 | 6.87% | 4.04% | 4.74% | 11.95% | |
55 Neutral | HK$204.49M | 30.62 | 2.87% | 1.80% | -5.85% | -93.22% | |
48 Neutral | HK$300.92M | 14.11 | 4.30% | 8.47% | -4.91% | -27.51% | |
44 Neutral | HK$1.23B | -15.31 | -42.58% | 1.60% | -20.17% | 2.68% |
* Technology Sector Average
HK:1460
ICO Group Limited
0.25
-0.09
-25.37%
HK:1075
Capinfo Co., Ltd. Class H
1.72
-1.30
-43.14%
HK:1147
Edensoft Holdings Limited
0.10
-0.07
-38.82%
HK:0046
Computer & Technologies Holdings Ltd.
1.24
-0.34
-21.67%
HK:0465
Futong Technology Development Holdings Ltd.
3.95
3.61
1060.29%
HK:0771
Automated Systems Holdings Limited
0.74
-0.11
-13.04%
ICO Group Limited Corporate Events
ICO Group Secures Full Shareholder Backing for AGM Resolutions and Capital Mandates
Aug 28, 2026
Shareholders of ICO Group Limited approved all resolutions at the annual general meeting held on 28 August 2026 in Hong Kong, with 480,377,200 votes cast entirely in favour and none against. The meeting covered receipt of the audited financial sta...
ICO Group Clarifies Proxy Form Error Ahead of 2026 AGM
Jul 24, 2026
ICO Group Limited has issued a clarification regarding a clerical error in the English version of its proxy form for the 2026 annual general meeting, scheduled for 28 August 2026, which relates to an ordinary resolution extending the general manda...
ICO Group sets 2026 AGM with proposal for expanded share issuance mandate
Jul 23, 2026
ICO Group Limited has called its 2026 annual general meeting for 28 August in Hong Kong, where shareholders will review audited financial statements for the year ended 31 March 2026 and consider the reappointment of BDO Limited as auditor. The mee...
ICO Group lifts revenue and profit but withholds final dividend for FY2026
Jun 29, 2026
ICO Group Limited reported a 5% year-on-year increase in revenue to HK$1.19 billion for the year ended 31 March 2026, with gross profit up 17% to HK$269.98 million, underscoring improved margins in its technology and IT services operations. Net pr...
ICO Group Sets June Board Meeting to Approve Annual Results and Consider Dividend
Jun 15, 2026
ICO Group Limited has scheduled a board meeting for 29 June 2026 to review and approve its audited consolidated results for the financial year ended 31 March 2026, with a view to publishing the figures on both the Hong Kong Stock Exchange and the ...
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.