Want to see HK:3878 full AI Analyst Report?
Top Page
Vicon Holdings Limited
(3878)
Select Model
Select Model
Rating:61Neutral
Price Target:
HK$0.20
▼(-18.33% Downside)
Action:Reiterated
Date:08/04/26
The score is primarily supported by low financial leverage and improved profitability with strong recent cash generation. Offsetting this, 2026 showed weakening operating momentum (revenue decline and margin compression), while technical indicators are neutral-to-soft and valuation (P/E ~24.8) appears elevated given thin margins and recent top-line contraction.
Positive Factors
Conservative balance sheet
Minimal leverage reduces financial risk and limits the burden of interest or refinancing obligations. This gives Vicon greater flexibility to withstand weaker project conditions, preserve liquidity, and fund operations without relying heavily on additional borrowing over the next several quarters.
Negative Factors
Revenue contraction
Falling revenue signals weakening operating momentum and can make fixed costs harder to absorb across the business. Continued top-line contraction would constrain scale benefits, reduce the resources available for investment, and make the recent profitability turnaround more vulnerable.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Minimal leverage reduces financial risk and limits the burden of interest or refinancing obligations. This gives Vicon greater flexibility to withstand weaker project conditions, preserve liquidity, and fund operations without relying heavily on additional borrowing over the next several quarters.
Read all positive factors
Vicon Holdings Limited (3878) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$89.21M
Dividend YieldN/A
Average Volume (3M)224.67K
Price to Earnings (P/E)22.9
Beta (1Y)>-0.01
Revenue Growth-22.11%
EPS Growth-6.93%
CountryHK
Employees21
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)<0.01
Shares Outstanding479,600,000
10 Day Avg. Volume57,400
30 Day Avg. Volume224,666
Financial Highlights & Ratios
PEG Ratio-3.47
Price to Book (P/B)0.39
Price to Sales (P/S)0.46
P/FCF Ratio1.20
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
Vicon Holdings Limited Business Overview & Revenue Model
Company Description
Vicon Holdings Limited operates as an investment holding entity primarily offering foundation and related construction services across Hong Kong. The company undertakes a diverse range of foundation projects, encompassing tasks such as piling, exc...
Vicon Holdings Limited Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
82
Very Positive
Cash Flow
74
Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 236.72M | 303.92M | 486.64M | 417.04M | 156.59M |
| Gross Profit | 14.20M | 20.62M | 43.95M | 43.58M | 33.16M |
| EBITDA | 10.17M | 15.56M | 17.43M | 13.12M | -5.10M |
| Net Income | 4.50M | 4.83M | 8.27M | 2.39M | -24.56M |
Balance Sheet | |||||
| Total Assets | 332.32M | 324.41M | 308.42M | 338.93M | 335.19M |
| Cash, Cash Equivalents and Short-Term Investments | 148.59M | 60.41M | 39.48M | 18.63M | 25.48M |
| Total Debt | 85.00K | 8.50M | 8.78M | 11.02M | 23.29M |
| Total Liabilities | 56.49M | 53.09M | 41.93M | 80.71M | 79.36M |
| Stockholders Equity | 275.82M | 271.32M | 266.49M | 258.22M | 255.83M |
Cash Flow | |||||
| Free Cash Flow | 90.19M | 8.03M | 38.50M | -17.77M | 29.14M |
| Operating Cash Flow | 92.87M | 10.75M | 39.72M | -14.51M | 34.44M |
| Investing Cash Flow | -74.71M | -14.04M | -19.83M | 22.89M | 30.29M |
| Financing Cash Flow | -8.43M | -1.92M | -2.89M | -15.22M | -53.87M |
Vicon Holdings Limited Technical Analysis
Neutral
0.24
Price Trends
0.22
Negative
0.23
Negative
0.23
Negative
Market Momentum
>-0.01
Negative
61.50
Neutral
52.53
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3878, the sentiment is Neutral. The current price of 0.24 is above the 20-day moving average (MA) of 0.21, above the 50-day MA of 0.22, and above the 200-day MA of 0.23, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 61.50 is Neutral, neither overbought nor oversold. The STOCH value of 52.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:3878.
Vicon Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | HK$92.40M | 1.64 | 10.81% | 10.91% | -5.20% | 420.03% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | HK$89.21M | 22.87 | 1.63% | ― | -22.11% | -6.93% | |
51 Neutral | HK$101.87M | -1.16 | -4.67% | 6.67% | -10.46% | -582.88% | |
46 Neutral | HK$162.40M | -1.06 | 848.01% | 1.96% | -25.29% | 7.74% | |
45 Neutral | HK$117.59M | -1.32 | -26.71% | ― | -51.29% | 43.87% |
* Industrials Sector Average
HK:3878
Vicon Holdings Limited
0.22
0.04
26.47%
HK:1413
Kwong Luen Engineering Holdings Limited
0.24
-0.16
-39.55%
HK:1459
Jujiang Construction Group Co., Ltd. Class H
0.19
-0.17
-46.94%
HK:3822
Sam Woo Construction Group Ltd.
1.10
0.16
17.02%
HK:6816
Prosper Construction Holdings Limited
0.20
-0.08
-28.77%
Vicon Holdings Limited Corporate Events
Vicon Holdings Sets September AGM and Seeks Fresh Share Issue Mandate
Jul 30, 2026
Vicon Holdings Limited has called an annual general meeting to be held in Hong Kong on 10 September 2026 to present and adopt its audited consolidated financial statements and reports for the year ended 31 March 2026. Shareholders will also vote o...
Vicon Holdings Sees Revenue Drop but Maintains Profit in FY2026
Jun 26, 2026
Vicon Holdings reported a decline in revenue to HK$236.7 million for the year ended 31 March 2026, down from HK$303.9 million a year earlier, reflecting softer project activity or fewer high-value contracts. Gross profit also fell to HK$14.2 milli...
Vicon Holdings Sets June Board Meeting to Approve Annual Results and Consider Dividend
Jun 10, 2026
Vicon Holdings Limited has scheduled a board meeting in Hong Kong on 26 June 2026 to review and approve the audited final results for the financial year ended 31 March 2026. The board will also consider the declaration of a final dividend, if any,...
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.