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Indigo Star Holdings Limited
(8373)
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Rating:78Outperform
Price Target:
HK$1.00
▲(53.85% Upside)
Action:Reiterated
Date:09/23/26
The score is driven primarily by solid financial performance (strong TTM growth, improved cash flow, and low leverage) and very attractive valuation (P/E ~1.21). These positives are tempered by thin operating margins and overbought technical indicators, which increase execution and near-term pullback risk.
Positive Factors
Strong TTM revenue growth
The sharp TTM revenue increase indicates stronger project activity and market demand, expanding the company’s operating base. If sustained, this growth can improve scale, support reinvestment, and strengthen competitive positioning over the next several quarters.
Negative Factors
Very thin operating profitability
Extremely narrow operating and EBITDA margins leave little protection against project overruns, cost increases, or weaker execution. Even modest adverse changes could materially reduce operating profit, making earnings quality and future profitability more sensitive to project-level performance.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong TTM revenue growth
The sharp TTM revenue increase indicates stronger project activity and market demand, expanding the company’s operating base. If sustained, this growth can improve scale, support reinvestment, and strengthen competitive positioning over the next several quarters.
Read all positive factors
Indigo Star Holdings Limited (8373) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$36.92M
Dividend YieldN/A
Average Volume (3M)62.23K
Price to Earnings (P/E)1.0
Beta (1Y)0.43
Revenue Growth22.32%
EPS Growth30.85%
CountryHK
Employees928
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.14
Shares Outstanding40,800,000
10 Day Avg. Volume46,100
30 Day Avg. Volume62,233
Financial Highlights & Ratios
PEG Ratio-0.06
Price to Book (P/B)0.22
Price to Sales (P/S)0.05
P/FCF Ratio-16.58
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
Indigo Star Holdings Limited Business Overview & Revenue Model
Company Description
Indigo Star Holdings Limited, an investment holding firm based in Singapore, primarily serves as a subcontractor specializing in structural reinforced concrete projects. The company's operations involve carrying out comprehensive reinforced concre...
Indigo Star Holdings Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 152.01M | 81.73M | 86.43M | 44.32M | 32.64M | 16.02M |
| Gross Profit | 22.27M | 15.06M | 14.60M | 11.42M | 8.09M | 2.49M |
| EBITDA | 1.60M | 3.49M | 4.55M | 2.60M | 1.20M | -2.92M |
| Net Income | 5.65M | 1.92M | 3.17M | 999.00K | 292.00K | -3.71M |
Balance Sheet | ||||||
| Total Assets | 59.22M | 45.79M | 41.16M | 33.93M | 28.79M | 27.02M |
| Cash, Cash Equivalents and Short-Term Investments | 21.45M | 12.89M | 13.72M | 10.96M | 6.84M | 6.38M |
| Total Debt | 3.83M | 2.80M | 2.97M | 2.91M | 4.06M | 5.28M |
| Total Liabilities | 35.92M | 26.31M | 23.64M | 19.54M | 15.31M | 13.92M |
| Stockholders Equity | 23.31M | 19.48M | 17.52M | 14.39M | 13.48M | 13.10M |
Cash Flow | ||||||
| Free Cash Flow | 8.08M | -259.00K | 1.37M | 5.77M | 2.06M | -2.27M |
| Operating Cash Flow | 9.07M | 729.00K | 1.64M | 6.05M | 2.58M | -1.83M |
| Investing Cash Flow | -1.29M | -994.00K | 11.00K | -207.00K | -438.00K | -301.00K |
| Financing Cash Flow | 316.00K | -1.07M | 1.27M | -1.24M | -1.32M | 1.81M |
Indigo Star Holdings Limited Technical Analysis
Neutral
0.65
Price Trends
0.82
Positive
0.76
Positive
0.70
Positive
Market Momentum
0.04
Positive
48.38
Neutral
32.29
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:8373, the sentiment is Neutral. The current price of 0.65 is below the 20-day moving average (MA) of 0.94, below the 50-day MA of 0.82, and below the 200-day MA of 0.70, indicating a neutral trend. The MACD of 0.04 indicates Positive momentum. The RSI at 48.38 is Neutral, neither overbought nor oversold. The STOCH value of 32.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:8373.
Indigo Star Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | HK$36.92M | 1.04 | 26.39% | ― | 22.32% | 30.85% | |
74 Outperform | HK$125.62M | 10.41 | 26.35% | 7.14% | 126.12% | ― | |
72 Outperform | HK$94.08M | 1.67 | 10.81% | 10.71% | -5.20% | 420.03% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
38 Underperform | HK$17.35M | -0.27 | 8.24% | 0.52% | ― | ― | |
33 Underperform | HK$99.50M | -8.40 | -13.85% | ― | -36.27% | -4.08% |
* Industrials Sector Average
HK:8373
Indigo Star Holdings Limited
0.91
0.26
39.23%
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0.07
0.00
0.00%
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K W Nelson Interior Design and Contracting Group Limited
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Noble Engineering Group Holdings Limited
0.30
0.15
98.68%
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Zhongtian Construction (Hunan) Group Limited
0.07
-0.02
-23.86%
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.