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Vicon Holdings Limited (3878) AI Stock Analysis
Vicon Holdings Limited
(HKEX:3878)
The overall score of 59 reflects a **financially safe but only moderately attractive** investment profile for Vicon Holdings. The most positive factor is the very strong balance sheet and generally supportive cash generation, which together reduce downside risk and provide resilience in a cyclical industry, justifying the high weight on financial performance and a solid sub-score. However, weakening revenue, compressed margins, and modest returns on equity limit upside potential and raise questions about the durability of earnings, keeping the overall score from being high. Technical indicators are broadly neutral, with price hovering around key moving averages and no strong momentum or oversold opportunities, so they neither significantly improve nor severely damage the outlook. Valuation is the main constraint: a relatively rich P/E multiple for a low-growth, thin-margin business with no dividend support dampens risk‑adjusted return prospects. Taken together, the stock scores in the upper-mid range—supported by balance sheet strength but tempered by soft growth, earnings quality concerns, and an unappealing valuation.
Vicon Holdings Limited (3878) vs. iShares MSCI Hong Kong ETF (EWH)
- Market Cap
- HKD 89.69M
- Dividend Yield
- ―
- Average Volume (3M)
- 228.05K
- Price to Earnings (P/E)
- 19.9
- Beta (1Y)
- -0.09
- Revenue Growth
- -22.11%
- EPS Growth
- -6.93%
- Country
- Hong Kong
- Employees
- 21
- Sector
- Industrials
- Sector Strength
- 63
- Industry
- Engineering & Construction
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, excava...
Vicon Holdings Limited Financial Statement Overview
Summary
Financial performance is **solid but not compelling**, driven by an extremely strong, low-risk balance sheet and generally positive cash generation, offset by weak growth and thin margins. The income statement is a drag with declining revenue, compressed margins, and modest returns on equity, reflected in a lower score of 52, indicating fragile profit quality and limited growth momentum. The balance sheet is a major strength with negligible debt, a sizable equity base, and clear de-risking over time, earning a high score of 78 and signaling strong financial safety but underutilized capital. Cash flow is mixed yet overall supportive of earnings, with strong recent operating cash inflows and consistently positive free cash flow in the last three years, but notable volatility and working capital swings, captured by a mid-to-high score of 61. Combining these elements, the company appears financially safe and cash-generative, but with constrained growth and earnings quality risk, leading to an overall financial performance score of 66.
Income Statement
52NeutralBalance Sheet
78PositiveCash Flow
61Positive| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 236.72M | 236.72M | 303.92M | 486.64M | 417.04M | 156.59M |
| Gross Profit | 14.20M | 14.20M | 20.62M | 43.95M | 43.58M | 33.16M |
| EBITDA | 12.21M | 10.17M | 15.56M | 17.43M | 13.12M | -5.10M |
| Net Income | 4.50M | 4.50M | 4.83M | 8.27M | 2.39M | -24.56M |
Balance Sheet | ||||||
| Total Assets | 332.32M | 332.32M | 324.41M | 308.42M | 338.93M | 335.19M |
| Cash, Cash Equivalents and Short-Term Investments | 148.59M | 148.59M | 60.41M | 39.48M | 18.63M | 25.48M |
| Total Debt | 85.00K | 85.00K | 8.50M | 8.78M | 11.02M | 23.29M |
| Total Liabilities | 56.49M | 56.49M | 53.09M | 41.93M | 80.71M | 79.36M |
| Stockholders Equity | 275.82M | 275.82M | 271.32M | 266.49M | 258.22M | 255.83M |
Cash Flow | ||||||
| Free Cash Flow | 90.19M | 90.19M | 8.03M | 38.50M | -17.77M | 29.14M |
| Operating Cash Flow | 92.87M | 92.87M | 10.75M | 39.72M | -14.51M | 34.44M |
| Investing Cash Flow | -74.71M | -74.71M | -14.04M | -19.83M | 22.89M | 30.29M |
| Financing Cash Flow | -8.43M | -8.43M | -1.92M | -2.89M | -15.22M | -53.87M |
Vicon Holdings Limited Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3878, the sentiment is Negative. The current price of 0.19 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 0.22, indicating a bearish trend. The MACD of -0.00 indicates Negative momentum. The RSI at 39.97 is Neutral, neither overbought nor oversold. The STOCH value of 63.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3878.
Vicon Holdings Limited Peers Comparison
Overall Rating
HK:382274Outperform- HK:387859Neutral
HK:141344Neutral
HK:681643Neutral
HK:145941Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| HK:3822 | 74Outperform | HKD 91.98M | 1.63 | 10.81% | 10.96% | -5.20% | 420.03% |
| Sector * | 63Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
| HK:3878 | 59Neutral | HKD 89.69M | 19.89 | 1.63% | ― | -22.11% | -6.93% |
| HK:1413 | 44Neutral | HKD 102.34M | -1.15 | -26.71% | ― | -51.29% | 43.87% |
| HK:6816 | 43Neutral | HKD 161.60M | -1.06 | 848.01% | ― | -25.29% | 7.74% |
| HK:1459 | 41Neutral | HKD 106.67M | -1.20 | -4.67% | ― | -10.46% | -582.88% |
* Industrials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| HK:3878 | Vicon Holdings Limited | 0.19 | -0.01 | -6.50% | |
| HK:1413 | Kwong Luen Engineering Holdings Limited | 0.21 | -0.20 | -48.77% | |
| HK:1459 | Jujiang Construction Group Co., Ltd. Class H | 0.20 | -0.07 | -24.53% | |
| HK:3822 | Sam Woo Construction Group Ltd. | 1.09 | 0.35 | 47.97% | |
| HK:6816 | Prosper Construction Holdings Limited | 0.20 | -0.01 | -6.48% |
Vicon Holdings Limited Corporate Events
Vicon Holdings Shareholders Approve All AGM Resolutions and Capital Mandates
Vicon Holdings Limited reported that all resolutions proposed at its annual general meeting on 10 September 2026 were approved by shareholders through poll voting, with 159,113,085 shares cast in favour and none against each item. The AGM decisions c...
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: Aug 04, 2026