ICO Group Limited (1460) AI Stock Analysis

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ICO Group Limited

(HKEX:1460)

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Rating:63Neutral

Price Target:HKD 0.27▲(8.80% Upside)

Action:reiterated

Date:10/28/26

The score is primarily supported by a conservative balance sheet and attractive valuation. Improving margins and price momentum provide additional support, but the recent revenue contraction, negative latest-year cash flow, thin profitability, and overbought technical readings constrain the overall score.

Positive Factors

Low leverageThe company is conservatively financed, with very limited debt relative to equity and leverage improving over time. This lowers financial risk, reduces interest-related pressure on earnings, and preserves capacity to withstand operating volatility or fund future initiatives.

Negative Factors

Revenue contractionThe sharp latest-year revenue decline signals meaningful demand or volume pressure and weakens visibility into near-term operating performance. A smaller revenue base can reduce scale benefits, make fixed costs harder to absorb, and delay recovery in earnings if the contraction persists.

ICO Group Limited (1460) vs. iShares MSCI Hong Kong ETF (EWH)

Market Cap: HKD 219.40M
Dividend Yield: 4.20%
Average Volume (3M): 529.81K
Price to Earnings (P/E): 7.6
Beta (1Y): 0.17
Revenue Growth: 4.74%
EPS Growth: 11.95%
Country: Hong Kong
Employees: 365
Sector: Technology
Sector Strength: 61
Industry: Information Technology Services

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 oper...

ICO Group Limited Financial Statement Overview

Summary

The balance sheet is strong, supported by low leverage and a growing equity base, while revenue growth and margins have improved over time. However, the recent revenue decline, thin profitability, and sharp move to negative operating and free cash flow materially weaken the financial profile.

Income Statement

62Positive

Balance Sheet

78Positive

Cash Flow

38Negative

Financial statement breakdown
Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	1.15B	1.19B	1.14B	1.08B	877.32M	712.45M
Gross Profit	221.70M	267.56M	230.22M	209.45M	173.74M	131.03M
EBITDA	113.97M	69.55M	62.19M	53.94M	40.56M	37.46M
Net Income	17.04M	28.81M	25.70M	16.69M	10.97M	8.12M
Balance Sheet
Total Assets	1.11B	1.11B	1.06B	954.51M	865.14M	777.45M
Cash, Cash Equivalents and Short-Term Investments	244.99M	272.07M	375.97M	306.62M	216.92M	107.42M
Total Debt	37.02M	37.02M	57.34M	62.55M	57.58M	59.56M
Total Liabilities	485.81M	485.81M	482.66M	389.27M	314.84M	222.73M
Stockholders Equity	602.05M	602.05M	562.60M	537.70M	530.99M	530.98M
Cash Flow
Free Cash Flow	-100.24M	-36.26M	85.23M	93.61M	121.01M	-40.08M
Operating Cash Flow	-98.17M	-35.37M	88.35M	96.42M	121.40M	-39.91M
Investing Cash Flow	10.35M	11.24M	81.56M	-83.29M	1.44M	10.97M
Financing Cash Flow	-56.61M	-46.18M	-29.60M	-13.81M	-12.81M	30.89M

ICO Group Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price0.25

Price Trends

50DMA0.25Negative

100DMA0.25Positive

200DMA0.24Positive

Market Momentum

MACD0.00Positive

RSI34.66Neutral

STOCH65.52Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1460, the sentiment is Negative. The current price of 0.25 is below the 20-day moving average (MA) of 0.26, below the 50-day MA of 0.25, and above the 200-day MA of 0.24, indicating a neutral trend. The MACD of 0.00 indicates Positive momentum. The RSI at 34.66 is Neutral, neither overbought nor oversold. The STOCH value of 65.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1460.

ICO Group Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

HK:1460 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HK:1075	67Neutral	HKD 560.78M	6.10	6.36%	4.10%	8.36%	286.36%
HK:0046	66Neutral	HKD 291.22M	13.31	4.30%	8.97%	-4.91%	-27.51%
HK:1460	63Neutral	HKD 219.40M	7.59	4.89%	4.20%	4.74%	11.95%
Sector *	61Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
HK:1147	61Neutral	HKD 202.45M	29.04	2.87%	1.82%	-5.85%	-93.22%
HK:0771	56Neutral	HKD 595.99M	-2.32	-11.90%	4.23%	4.44%	-266.43%
HK:0465	39Underperform	HKD 898.13M	-11.00	-42.58%	―	-20.17%	2.68%

* Technology Sector Average

Performance Comparison

HK:1460 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
HK:1460	ICO Group Limited	0.25	-0.06	-19.35%
HK:1075	Capinfo Co., Ltd. Class H	1.94	-1.11	-36.45%
HK:1147	Edensoft Holdings Limited	0.10	-0.02	-17.50%
HK:0046	Computer & Technologies Holdings Ltd.	1.17	-0.28	-19.53%
HK:0465	Futong Technology Development Holdings Ltd.	2.85	2.37	492.71%
HK:0771	Automated Systems Holdings Limited	0.70	-0.02	-3.05%

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 statem...

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.

Date of analysis: Oct 28, 2026

ICO Group Limited AI Stock Analysis