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Analogue Holdings Limited
(1977)
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Rating:71Outperform
Price Target:
HK$1.00
▲(8.70% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong financial resilience (very low leverage and improved free cash flow in 2025) and attractive valuation (low P/E and high dividend yield). These positives are tempered by weak technical momentum (below key moving averages with negative MACD and sub-40 RSI) and a thinner, less consistent profitability profile versus earlier years.
Positive Factors
Very Conservative Leverage
Minimal leverage reduces financial risk and interest burden, giving Analogue greater resilience through engineering and construction cycles. Stable-to-growing equity also preserves capacity to fund projects and absorb working-capital volatility.
Negative Factors
Inconsistent Revenue Trend
Uneven revenue performance reflects the timing and lumpiness of project-based activity. This makes forward workload visibility less reliable and can create uneven utilization, limiting the durability of growth and complicating resource planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Conservative Leverage
Minimal leverage reduces financial risk and interest burden, giving Analogue greater resilience through engineering and construction cycles. Stable-to-growing equity also preserves capacity to fund projects and absorb working-capital volatility.
Read all positive factors
Analogue Holdings Limited (1977) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.36B
Dividend Yield8.39%
Average Volume (3M)133.90K
Price to Earnings (P/E)5.4
Beta (1Y)0.29
Revenue Growth3.15%
EPS Growth76.64%
CountryHK
Employees3,219
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.17
Shares Outstanding1,400,000,000
10 Day Avg. Volume309,600
30 Day Avg. Volume133,900
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)0.55
Price to Sales (P/S)0.21
P/FCF Ratio3.31
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
Analogue Holdings Limited Business Overview & Revenue Model
Company Description
Analogue Holdings Limited delivers a comprehensive suite of electrical and mechanical (E&M) engineering solutions to both public and private clients across Hong Kong, mainland China, Macau, the United States, and other international markets. Its o...
How the Company Makes Money
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Analogue Holdings Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
82
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.25B | 6.09B | 6.45B | 6.13B | 6.47B | 5.35B |
| Gross Profit | 901.27M | 997.76M | 1.00B | 833.29M | 1.01B | 878.37M |
| EBITDA | 276.45M | 308.82M | 228.83M | 353.01M | 383.62M | 450.84M |
| Net Income | 238.26M | 167.04M | 135.26M | 251.50M | 114.56M | 314.30M |
Balance Sheet | ||||||
| Total Assets | 5.21B | 5.16B | 5.20B | 5.14B | 4.81B | 4.45B |
| Cash, Cash Equivalents and Short-Term Investments | 1.22B | 1.04B | 1.04B | 1.04B | 1.00B | 819.93M |
| Total Debt | 276.15M | 282.85M | 608.22M | 366.29M | 362.35M | 369.91M |
| Total Liabilities | 2.76B | 2.85B | 3.00B | 3.01B | 2.75B | 2.32B |
| Stockholders Equity | 2.46B | 2.32B | 2.19B | 2.13B | 2.06B | 2.13B |
Cash Flow | ||||||
| Free Cash Flow | 124.89M | 388.26M | -9.26M | 57.03M | 426.81M | 189.82M |
| Operating Cash Flow | 142.63M | 419.89M | 146.07M | 177.55M | 453.35M | 241.73M |
| Investing Cash Flow | -17.89M | -16.67M | -150.00M | -41.46M | -1.02M | -627.51M |
| Financing Cash Flow | -252.84M | -429.06M | 143.05M | -203.75M | -245.48M | 81.46M |
Analogue Holdings Limited Technical Analysis
Positive
0.92
Price Trends
0.95
Positive
0.97
Positive
0.95
Positive
Market Momentum
0.01
Negative
53.41
Neutral
55.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1977, the sentiment is Positive. The current price of 0.92 is below the 20-day moving average (MA) of 0.96, below the 50-day MA of 0.95, and below the 200-day MA of 0.95, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 53.41 is Neutral, neither overbought nor oversold. The STOCH value of 55.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1977.
Analogue Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$1.73B | 3.66 | 15.72% | 12.50% | -12.79% | -0.62% | |
71 Outperform | HK$1.36B | 5.42 | 9.97% | 8.39% | 3.15% | 76.64% | |
71 Outperform | HK$1.13B | 24.28 | 4.18% | 17.91% | -18.58% | -27.75% | |
70 Outperform | HK$930.00M | 3.23 | 15.75% | 6.45% | 15.16% | 25.81% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
51 Neutral | HK$1.13B | -3,944.02 | -0.11% | 1.67% | -2.02% | -101.97% | |
42 Neutral | HK$964.78M | -13.79 | -101.13% | ― | 12.98% | 19.18% |
* Industrials Sector Average
HK:1977
Analogue Holdings Limited
0.93
0.13
15.96%
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Analogue Holdings Limited Corporate Events
Analogue Holdings Sets August Board Meeting to Review Interim Results and Dividend
Aug 18, 2026
Analogue Holdings Limited has scheduled a board meeting for 28 August 2026 in Hong Kong to review the interim results of the company and its subsidiaries for the six months ended 30 June 2026. The board will also consider the declaration of an int...
Analogue Holdings shareholders back all AGM resolutions, renew capital mandates
Jun 24, 2026
Analogue Holdings Limited reported that all resolutions at its annual general meeting on 24 June 2026 were approved by shareholders by wide margins, including the adoption of the 2025 audited financial statements and the re-election of all incumbe...
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.