Ming Shing Group Holdings Ltd PMA
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.44
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $14.6M | $33.9M | $27.6M | $21.9M | $14.4M | — |
| Cost of revenue | $17.3M | $35.2M | $22.5M | $18.4M | $11.8M | — |
| Gross profit | -$2.7M | -$1.3M | $5.1M | $3.5M | $2.6M | — |
| SG&A | $2.8M | $4.0M | $1.8M | $855.6K | $512.6K | — |
| Total operating expenses | $2.8M | $4.0M | $1.8M | $855.6K | $512.6K | — |
| Operating income | -$5.5M | -$5.4M | $3.2M | $2.6M | $2.1M | — |
| Interest expense | $346.7K | $508.8K | $286.1K | $180.0K | $74.6K | — |
| Pre-tax income | -$5.7M | -$5.8M | $3.0M | $3.3M | $2.1M | — |
| Income tax | $13.8K | $80.2K | $648.9K | $468.9K | $317.1K | — |
| Net income | -$5.8M | -$5.7M | $2.3M | $2.8M | $1.8M | — |
| EPS, basic | -0.44 | -0.48 | 0.21 | 0.25 | 0.22 | — |
| EPS, diluted | -0.44 | -0.48 | 0.21 | 0.25 | 0.22 | — |
| Shares, diluted (wtd. avg.) | 13.0M | 11.8M | 11.2M | 11.2M | 8.1M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $1.6M | $249.9K | $1.1M | $324.0K | — | — |
| Receivables | $834.6K | $4.2M | $1.6M | $3.3M | — | — |
| Total current assets | $4.2M | $10.3M | $8.8M | $6.9M | — | — |
| Property, plant and equipment | $1.1M | $1.1M | $1.2M | $11.9K | — | — |
| Total assets | $5.9M | $13.4M | $11.9M | $8.3M | — | — |
| Accounts payable | $1.0M | $4.0M | $3.2M | $1.9M | — | — |
| Short-term debt | $2.4M | $4.8M | $3.8M | $3.8M | — | — |
| Total current liabilities | $6.0M | $9.5M | $7.7M | $6.2M | — | — |
| Long-term debt | $4.7M | $2.9M | $3.0M | $1.5M | — | — |
| Total liabilities | $10.7M | $12.4M | $10.9M | $7.9M | — | — |
| Retained earnings | -$11.6M | -$5.8M | $997.0K | $381.6K | — | — |
| Total equity | -$4.8M | $984.0K | $998.3K | $382.9K | $159.8K | $458.3K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $783.1K | -$8.0M | $2.5M | $795.3K | -$151.6K | — |
| Depreciation and amortisation | $77.2K | $82.4K | $26.2K | $5.0K | $7.8K | — |
| Capital expenditure | — | — | $1.1M | $15.4K | — | — |
| Investing cash flow | — | $10.3K | -$1.1M | $35.9K | $56.4K | — |
| Financing cash flow | $614.7K | $7.1M | -$553.4K | -$725.1K | -$1.6K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-038558.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $14.4M | $21.9M | $27.6M | $33.9M | $14.6M |
| Gross profit | — | $2.6M | $3.5M | $5.1M | -$1.3M | -$2.7M |
| Net income | — | $1.8M | $2.8M | $2.3M | -$5.7M | -$5.8M |
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