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AP Rentals Holdings Ltd.
(1496)
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Rating:68Neutral
Price Target:
HK$0.23
▲(41.25% Upside)
Action:Reiterated
Date:09/18/26
The score is driven primarily by improved profitability and a conservatively levered balance sheet, supported by consistently positive operating cash flow. Technicals are constructive with price above major moving averages and a positive MACD, though near-overbought RSI adds caution. Valuation is fair with a solid dividend yield, but the recent revenue declines and volatile free cash flow keep the overall score in the upper-middle range rather than high.
Positive Factors
Profitability Turnaround
The shift from losses in 2021–2022 to sustained profitability through 2026 indicates a materially healthier earnings base. Gross-margin expansion to about 30% also suggests improved underlying economics, giving the company a stronger foundation for reinvestment and resilience over the next several quarters.
Negative Factors
Recent Revenue Contraction
The reversal from strong revenue gains in 2023–2024 to declines in both 2025 and 2026 weakens the company’s current growth profile. If the contraction persists, it could limit operating leverage, reduce utilization-driven expansion, and make recent profitability improvements harder to sustain.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability Turnaround
The shift from losses in 2021–2022 to sustained profitability through 2026 indicates a materially healthier earnings base. Gross-margin expansion to about 30% also suggests improved underlying economics, giving the company a stronger foundation for reinvestment and resilience over the next several quarters.
Read all positive factors
AP Rentals Holdings Ltd. (1496) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$170.21M
Dividend Yield4.31%
Average Volume (3M)120.13K
Price to Earnings (P/E)15.9
Beta (1Y)0.52
Revenue Growth-9.62%
EPS Growth-12.06%
CountryHK
Employees123
SectorIndustrials
Sector Strength72
IndustryRental & Leasing Services
Share Statistics
EPS (TTM)0.01
Shares Outstanding864,000,000
10 Day Avg. Volume96,000
30 Day Avg. Volume120,133
Financial Highlights & Ratios
PEG Ratio-1.17
Price to Book (P/B)0.64
Price to Sales (P/S)1.04
P/FCF Ratio9.08
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
AP Rentals Holdings Ltd. Business Overview & Revenue Model
Company Description
AP Rentals Holdings Limited operates as an investment holding company, primarily focusing on the rental of diverse equipment for the construction, electrical and mechanical (E&M) engineering, and event and entertainment industries. Its geographica...
AP Rentals Holdings Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
55
Neutral
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 144.81M | 160.22M | 174.07M | 160.55M | 134.80M |
| Gross Profit | 43.98M | 46.45M | 52.04M | 45.02M | 20.59M |
| EBITDA | 45.65M | 63.75M | 61.41M | 58.33M | 54.61M |
| Net Income | 10.68M | 12.16M | 10.36M | 12.78M | -4.46M |
Balance Sheet | |||||
| Total Assets | 332.04M | 339.13M | 339.43M | 327.89M | 318.67M |
| Cash, Cash Equivalents and Short-Term Investments | 112.36M | 108.33M | 93.66M | 74.92M | 56.08M |
| Total Debt | 40.84M | 49.81M | 42.67M | 42.34M | 33.96M |
| Total Liabilities | 94.90M | 105.07M | 111.12M | 103.73M | 106.41M |
| Stockholders Equity | 237.14M | 234.06M | 228.31M | 224.16M | 212.26M |
Cash Flow | |||||
| Free Cash Flow | 16.66M | 8.37M | 18.28M | 9.94M | -16.36M |
| Operating Cash Flow | 41.94M | 52.67M | 37.20M | 65.71M | 57.04M |
| Investing Cash Flow | -15.80M | -28.02M | -10.49M | -40.19M | -45.84M |
| Financing Cash Flow | -22.57M | -9.52M | -7.06M | -6.27M | 6.51M |
AP Rentals Holdings Ltd. Technical Analysis
Neutral
0.16
Price Trends
0.20
Positive
0.18
Positive
0.17
Positive
Market Momentum
<0.01
Positive
49.97
Neutral
6.17
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1496, the sentiment is Neutral. The current price of 0.16 is below the 20-day moving average (MA) of 0.20, below the 50-day MA of 0.20, and below the 200-day MA of 0.17, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 49.97 is Neutral, neither overbought nor oversold. The STOCH value of 6.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:1496.
AP Rentals Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | HK$14.58B | 7.34 | 12.77% | 6.79% | -9.54% | 3.81% | |
69 Neutral | HK$20.80M | 0.61 | 13.10% | ― | -0.51% | -48.01% | |
68 Neutral | HK$170.21M | 15.89 | 4.55% | 4.31% | -9.62% | -12.06% | |
66 Neutral | HK$49.38B | 7.89 | 11.56% | 5.35% | -1.72% | -0.06% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
50 Neutral | HK$2.54B | 6.69 | 8.31% | 9.57% | 18.84% | 38.16% | |
37 Underperform | HK$244.10M | >-0.01 | -19.11% | ― | -37.24% | ― |
* Industrials Sector Average
HK:1496
AP Rentals Holdings Ltd.
0.20
0.05
33.11%
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71.15
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2.35
0.41
21.38%
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In Technical Productions Holdings Limited
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-87.67%
AP Rentals Holdings Ltd. Corporate Events
AP Rentals expands equipment fleet in discloseable Hong Kong transaction
Sep 15, 2026
AP Rentals Holdings’ subsidiary has agreed to purchase 18 units of equipment from an independent vendor for HKD18.65 million, following earlier orders for 21 units worth HKD6.68 million in the past 12 months. The series of acquisitions, all ...
AP Rentals Warns of Interim Loss as Airport Runway Work Nears Completion
Aug 31, 2026
AP Rentals Holdings Ltd. has warned that it swung to a loss after tax of about HK$7.8 million for the four months ended 31 July 2026, compared with a profit of roughly HK$4.0 million a year earlier, as revenue from equipment leasing in Hong Kong f...
AP Rentals shareholders back all AGM resolutions, approve dividend and share mandates
Aug 26, 2026
Shareholders of AP Rentals Holdings overwhelmingly approved all resolutions at the annual general meeting held on 26 August 2026, with each motion receiving more than 99.99% of votes cast. The meeting endorsed the audited results for the year to 3...
AP Rentals sets 2026 AGM to approve dividend, director slate and share issue mandate
Jul 28, 2026
AP Rentals Holdings Ltd. has called its annual general meeting for 26 August 2026 in Central, Hong Kong, where shareholders will review the audited financial statements for the year ended 31 March 2026 and vote on a proposed final dividend of HK0....
AP Rentals Adds Industry Role Details for Executive Director Lau Tsz Fung
Jul 20, 2026
AP Rentals Holdings Ltd. has issued a supplemental announcement clarifying the biographical details of executive director Lau Tsz Fung, previously appointed in February 2024 and referenced in the company’s 2025 annual report. The company dis...
AP Rentals Posts Lower Annual Profit as Leasing Revenue Falls
Jun 26, 2026
AP Rentals Holdings reported a decline in revenue for the year ended 31 March 2026, with total revenue falling 9.6% to HK$144.8 million, mainly due to lower equipment leasing income. Profit for the year dropped 12.2% to HK$10.7 million, although g...
AP Rentals Declares Final Cash Dividend for FY2026
Jun 26, 2026
AP Rentals Holdings Ltd. has declared a final ordinary cash dividend of HKD 0.0062 per share for the financial year ended 31 March 2026, subject to shareholder approval on 26 August 2026. The dividend will be paid in Hong Kong dollars through Comp...
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.