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Metalpha Technology Holding
(NASDAQ:MATH)
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Rating:55Neutral
Price Target:
$1.00
▲(16.28% Upside)
Action:Reiterated
Date:09/15/26
The score is driven primarily by mixed financial performance: a conservative balance sheet and strong FY2026 cash flow are positives, but severe operating instability (including FY2026 revenue dropping to zero and large operating losses) materially elevates risk. Technicals are mildly supportive but not strong enough to offset fundamentals, and valuation (P/E 25.44 with no dividend yield provided) is not especially attractive given the volatility.
Positive Factors
Conservative balance sheet
Low leverage and materially higher equity provide a durable financial cushion while the company navigates digital-asset market volatility. A conservative capital structure can reduce solvency pressure, preserve funding flexibility, and support continued investment even when operating results fluctuate.
Negative Factors
FY2026 operating deterioration
A period with zero reported revenue and deeply negative gross and operating profit raises serious questions about the continuity of the core business model. This weak operating base can undermine earnings visibility, reduce recurring client economics, and make future performance highly dependent on a sharp recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and materially higher equity provide a durable financial cushion while the company navigates digital-asset market volatility. A conservative capital structure can reduce solvency pressure, preserve funding flexibility, and support continued investment even when operating results fluctuate.
Read all positive factors
Metalpha Technology Holding (MATH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$41.28M
Dividend Yield0.73%
Average Volume (3M)35.70K
Price to Earnings (P/E)25.4
Beta (1Y)0.97
Revenue GrowthN/A
EPS Growth-89.59%
CountryUS
Employees31
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.04
Shares Outstanding47,113,235
10 Day Avg. Volume33,230
30 Day Avg. Volume35,699
Financial Highlights & Ratios
PEG Ratio-0.41
Price to Book (P/B)0.93
Price to Sales (P/S)0.00
P/FCF Ratio0.65
Enterprise Value/Market Cap>-0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
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
Metalpha Technology Holding Business Overview & Revenue Model
Company Description
Metalpha Technology Holding Limited, together with its subsidiaries, provides wealth management services in Hong Kong. It offers digital asset-based wealth management services; executes cryptocurrency-related transactions, including the issuance o...
How the Company Makes Money
Metalpha primarily makes money by earning fees and trading-related income connected to digital-asset derivatives and structured products. Key revenue streams typically include: (1) structured product and derivatives facilitation: income from arran...
Metalpha Technology Holding Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
73
Positive
Cash Flow
60
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Sep 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 44.57M | 16.76M | 5.69M | 122.71K |
| Gross Profit | -21.99M | 21.30M | 5.63M | 2.02M | 46.93K |
| EBITDA | -35.53M | 16.13M | -3.59M | -11.59M | -9.13M |
| Net Income | 1.28M | 15.89M | -3.68M | -20.56M | -14.44M |
Balance Sheet | |||||
| Total Assets | 485.57M | 246.77M | 174.72M | 56.08M | 24.34M |
| Cash, Cash Equivalents and Short-Term Investments | 465.14M | 20.70M | 48.08M | 9.47M | 5.29M |
| Total Debt | 536.56K | 212.69K | 5.04M | 133.28K | 368.75K |
| Total Liabilities | 432.58M | 210.21M | 157.87M | 47.48M | 10.14M |
| Stockholders Equity | 52.99M | 36.56M | 16.85M | 8.60M | 12.79M |
Cash Flow | |||||
| Free Cash Flow | 75.73M | 24.68K | -11.60M | -1.14M | -5.15M |
| Operating Cash Flow | 75.73M | 71.99K | -11.60M | -1.14M | -4.86M |
| Investing Cash Flow | 144.50K | -23.31K | 32.68K | -20.42K | 422.89K |
| Financing Cash Flow | 11.79M | 2.11M | 9.73M | 2.60M | 8.98M |
Metalpha Technology Holding Technical Analysis
Positive
0.86
Price Trends
0.89
Positive
0.95
Positive
1.36
Negative
Market Momentum
0.02
Negative
59.65
Neutral
50.98
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MATH, the sentiment is Positive. The current price of 0.86 is above the 20-day moving average (MA) of 0.85, below the 50-day MA of 0.89, and below the 200-day MA of 1.36, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 59.65 is Neutral, neither overbought nor oversold. The STOCH value of 50.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MATH.
Metalpha Technology Holding Risk Analysis
Metalpha Technology Holding disclosed 45 risk factors in its most recent earnings report. Metalpha Technology Holding reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Metalpha Technology Holding Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
55 Neutral | $41.28M | 25.44 | 2.91% | 0.73% | ― | -89.59% | |
50 Neutral | $259.16M | -105.24 | -0.54% | ― | -13.38% | -155.45% | |
46 Neutral | $114.33M | -1.40 | 7.78% | 2.36% | 16.15% | 32.19% | |
45 Neutral | $10.23M | -0.19 | -270.63% | ― | -67.20% | ― | |
43 Neutral | $62.96M | -0.23 | 182.56% | ― | 3.14% | 48.61% |
* Financial Sector Average
MATH
Metalpha Technology Holding
1.01
-2.36
-70.03%
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Metalpha Technology Holding Corporate Events
Metalpha Nearly Doubles Total Assets in FY2026 as It Files Latest Annual Report
Aug 6, 2026
Metalpha Technology Holding reported audited financial results for the fiscal year ended March 31, 2026, highlighting resilience amid volatile digital asset markets. The company generated $37.1 million in revenue, remained consistently profitable ...
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.