AMTD Digital Inc.

NYSE:HKD 주식 리포트

시가총액: US$531.1m

AMTD Digital 과거 순이익 실적

과거 기준 점검 4/6

AMTD Digital은 연평균 14.4%의 비율로 수입이 증가해 온 반면, Software 산업은 수입이 22.4% 증가했습니다. 매출은 연평균 33.6%의 비율로 증가했습니다. AMTD Digital의 자기자본이익률은 16.1%이고 순이익률은 40.2%입니다.

핵심 정보

14.40%

순이익 성장률

3.00%

주당순이익(EPS) 성장률

Software 산업 성장률17.33%
매출 성장률33.64%
자기자본이익률16.07%
순이익률40.20%
최근 순이익 업데이트31 Oct 2025

최근 과거 실적 업데이트

Recent updates

분석 기사 • Nov 30

Earnings Working Against AMTD Digital Inc.'s (NYSE:HKD) Share Price Following 45% Dive

AMTD Digital Inc. ( NYSE:HKD ) shareholders won't be pleased to see that the share price has had a very rough month...
Seeking Alpha • Aug 22

AMTD Digital: The Latest Move Is Into Crypto

Summary AMTD's latest move to sell stock for crypto seems designed to spark speculative interest, not to add real business value. The only substantial asset remains the hotel properties; other ventures like magazines and film are unimpressive and lack visibility. I doubt the crypto-for-stock program will boost share prices in New York, unlike similar moves in London due to market differences. My view: unless you believe in a renewed speculative frenzy, AMTD's fun is likely over—I'm not interested in participating. Read the full article on Seeking Alpha
Seeking Alpha • Mar 06

AMTD Digital: One More Time, Possibly With The Same Assets

Summary AMTD Digital's 2024 annual report shows significant interest income and gains from subsidiary disposals, despite ongoing operational losses. The company's primary assets are hotel properties, with a minor focus on digital and media ventures. A business combination with Black Spade Acquisition II Co will spin off hotel assets into a newly listed entity, WME. Future valuation hinges on market perception and potential meme stock trading excitement around the new WME/BSII entity. Read the full article on Seeking Alpha
Seeking Alpha • Sep 25

AMTD Digital: Overvalued And Future Remains Uncertain

Summary AMTD Digital is notably overpriced when compared to its fintech peers, suggesting possible future adjustments in stock value. The company faces substantial regulatory uncertainties in China, potentially impacting its operations and stock performance. With a limited operating history and heavy reliance on its controlling shareholder, the company's future growth and stability are not guaranteed. Read the full article on Seeking Alpha
Seeking Alpha • Feb 22

AMTD Digital GAAP EPS of HK$1.21, revenue of HK$109.25M

AMTD Digital press release (NYSE:HKD): 1H GAAP EPS of HK$1.21. Revenue of HK$109.25M (+7.8% Y/Y).
Seeking Alpha • Jan 10

Why did AMTD Digital shares fall 9% Tuesday? The meme stock is back in town

AMTD Digital (NYSE:HKD), a Hong Kong-based provider of financial services software and platforms that has at times been the symbol for what a meme stock looks like saw its shares drop more than 9% Tuesday. The cause of AMTD's (HKD) losses on Tuesday was, like with many of its prior wild swings, open to just about anyone's interpretation. However, more than 7.5M AMTD (HKD) shares traded hands by the time of Tuesday's market close--more than four times the stock's daily average of 1.7M shares exchanged. Tuesday's losses were minuscule to AMTD's (HKD) Monday drop of more than 35%. And as a sign that the AMTD (HKD) roller coaster still has some room to run, the company's shares climbed as much as 14% in Tuesday's after-hours trading session. Still, at about $13.47 a share, AMTD (HKD) looks almost like a penny stock compared to the $2,555.30 a share price it hit back in August 2022.
Seeking Alpha • Nov 02

AMTD Digital, IDEA, Something's Wrong Here

Summary AMTD Digital has been a soaring meme stock recently, pulling AMTD IDEA with it. Much, but not all of this, excitement has now dissipated. The big question, as always, is what happens next?
Seeking Alpha • Oct 19

AMTD Digital: China Fintech Tailwinds But Disclosure Is Lacking

Summary AMTD Digital is a fintech consultancy and software provider based in Hong Kong. The company had a blockbuster but also unexpected IPO in July 2022 and its stock price surged by an astonishing 21,000%. AMTD Digital is poised to benefit from the acceleration in Digital Transformation of organizations across China. As the financial disclosure is limited, only released up until April 2022 so far, valuing the company is challenging. The Chinese Fintech industry is forecasted to grow with the Digital Assets vertical expected to spearhead the charge with growth of a blistering 50.7% expected in 2023 alone. The People's Bank of China has even released its Fintech Development Plan for 2022-2025. AMTD Digital (HKD) is a fintech software, investing, and consultancy company that is poised to benefit from these trends across fintech growth and digital transformation in China. The company was founded in 2019 by Calvin Choi, an ex-UBS investment banker who is well-connected in the financial industry. AMTD Digital has its IPO in July 2022, and the stock price surged by a blistering 21,000% by August. This gave the company a market capitalization of ~$300 billion which made it larger than companies such as Coca-Cola and Costco. With revenue of just $25 million, you can imagine this bubble didn't last long and the stock price came crashing down. It was thought that currency traders may have confused the HKD ticker symbol with the Hong Kong Dollar. Despite this rollercoaster start the company is fairly unique and thus I'm going to break down the business model, financials and valuation. Let's dive in. Data by YCharts Digital Business Model AMTD Digital is a company that provides digital services to clients mostly in the financial industry. Its flagship software is called AMTD SpiderNet which it leverages across its four main services; Digital Financial Services Digital Media, Content & Marketing SpiderNet Ecosystem Solutions Digital Investments The company provides digital financial services to both retail and corporate clients. The bedrock of the business is its "SpiderNet" ecosystem which connects tech companies with Hong Kong-based banks and blue-chip enterprises. It has a range of digital financial licenses that it can leverage to help its clients. This can also be thought of as a competitive advantage as sometimes certain financial licenses in Asia can be scarce. AMTD SpiderNet (Investor Relations) Its SpiderNet ecosystem also acts as a "superconnector" that can connect entrepreneurs and corporate businesses with capital, technologies, and even mentorship. This service is vital for businesses that are going through a digital transformation and require consultancy. The Digital Transformation industry is seeing a "quantum leap" in China. It is forecasted to grow at an 18.9% compounded annual growth rate between 2022 and 2025. Financial companies are spearheading this growth but companies in the manufacturing industry are forecasted to follow. AMTD's Digital Investment arm invests directly in businesses that can further complement the SpiderNet ecosystem. The business has established a S$50 million (Singapore dollar) fund with the Singapore FinTech Association. Stable Financials As a Chinese company that has had a relatively recent IPO with a complex structure, the financial data is fairly scarce. Its latest SEC filing is dated August 30th 2022, but this is for the year-end of April 2022. Therefore this is all we have to go on so far. Revenue from contracts with customers was HK$ 196,958 (Hong Kong Dollar in thousands) or $25.1 million (US Dollars). This was up a rapid 17% from the HK$ 167,547 (thousands) or $21.4 million generated in 2020. However, year-over-year revenue has been pretty much flat with only a slight increase. AMTD Digital (SEC Filings) Working our way down the income statement one of the largest expenses is an employee benefits expense of HK$72.4 million, which is fairly substantial. There is also a fairly high amount of legal and professional fee expenses HK$ 23.5 million. The good news is the company benefited from a substantial boost in the fair value of its financial asset investments. This resulted in a jump from HK$70.3 million in 2021 to HK$132 million by 2022, up a rapid 88% year over year. This looks to have been a key fact in driving business profit for the year of 2022 HK$ 201.4 million ($25.7 million) which was up a rapid 17% from HK$172 million ($21.9 million) in 2021. Amazingly this was higher than the business's entire revenue from contracts which was $25.1 million. AMTD Digital had a solid balance sheet with $53 million in cash and cash equivalents and $396 million in total net assets by April 2022. With virtually no interest-bearing debt. Post-IPO, the umbrella holding company AMTD IDEA Group (AMTD) announced the "injection" of AMTD Assets into AMTD Digital. This business has a portfolio of properties with a fair value of approximately $500 million. Therefore AMTD Digital now has a total net asset position of approximately $660 million. Valuation? As the financial data is fairly limited at the moment and the business model is fairly unique, we will only look at a few simple measures of valuation. As Billionaire Investor Warren Buffett would say "I would rather be approximately right than precisely wrong". Here is what we can estimate if the business has net assets of $660 million and a market capitalization of $5.64 billion. We can estimate its Enterprise Value [EV] is ~$5 billion ($4.98b). Usually, when calculating Enterprise Value we just plus debt and minus cash but in this case, I will use net assets.
Seeking Alpha • Aug 10

AMTD Digital Becomes Unexpected Meme Stock; And Surprise, It's Already Crashing

Shares in digital financial services incubator AMTD Digital spiked to as high as $1,679 following their July 15 trading debut from an IPO price of $7.80. The dramatic surge is reminiscent of last year’s saga involving GameStop, whose stock skyrocketed, fueled by retail investors looking to punish short sellers. But what goes up must come down, as the saying goes. That’s already begun to happen, including a 48% crash on Tuesday. The company’s shares soared as much as 21,426% in the weeks after its IPO last month, making it Wall Street’s newest meme stock. Shares of newly listed financial services incubator AMTD Digital Inc. (HKD) have gone viral to become the latest meme stock since their trading debut last month, delivering huge profits for early investors who are probably still trying to figure out what happened. No one so far has been able to explain what fueled the stock’s meteoric rise. But what goes up must come down, as the saying goes. That’s already begun to happen, including a 48% crash on Tuesday. It doesn’t take much brains to predict more theatrics to come, since even at its latest close the stock still trades at 27 times its IPO price. The wild surge is reminiscent of the saga of GameStop Corp. (GME), the struggling game shop operator whose shares embarked on a similar spectacular rise last year. In that instance, the huge rally was the work of small-time retail investors from a Reddit community called WallStreetBets who harbored grand plans to inflict big losses on short sellers who bet against GameStop. AMTD Digital, a Hong Kong-based company that calls itself “Asia’s one-stop comprehensive digital solutions platform,” went public in New York last month with a July 15 trading debut. The stock’s price more than tripled from its modest IPO price of $7.80 in its first two days of trading, which was impressive enough. But that pales in comparison to what happened in the following weeks. The stock rallied relentlessly to hit $180 on July 28, which marked its busiest day, with more than 2.4 million shares traded. By the close of trading last Tuesday, it had reached a nose-bleed level of $1,679, giving AMTD Digital a market capitalization of more than $310 billion – similar to the value of giants like Samsung Electronics (005930.KS; SSNLF, SSNNF) and Chevron (CVX). The same day, AMTD Digital issued a note thanking investors for “the successful completion” of its IPO, without directly mentioning the extraordinary pop in its share price. But it was obvious the company felt compelled to address the surge, which it did indirectly by saying there wasn’t anything unusual going on with its business. In what seems like a massive understatement, AMTD Digital did note that its stock is undergoing an “initial stabilization period” as its IPO underwriters, second-tier players Maxim Group and Livermore Holdings, have a so-called green-shoe option to purchase an additional 2.4 million shares in the company at the IPO price within 30 days of the date of its final prospectus. Given the stock’s huge surge, the two investment banks most likely thanked their lucky stars and exercised this option as soon as they could. Such a move would have been a win-win for both the underwriters and AMTD Digital. The banks could have another opportunity to buy AMTD Digital shares at a massive discount to their market value, while AMTD Digital could raise more capital through the sale of additional shares. Following the meteoric early gains, AMTD Digital stock already seems to be fizzling out, coming down steadily since last Tuesday’s peak on notably lower trading volume. But even after the Tuesday sell-off, it still has a way to go to reach a level that makes sense, considering that its latest price translates to a price-to-earnings (P/E) ratio of more than 2,300. Meme stocks Last year’s GameStop craze gave birth to the term “meme stocks,” which refers to stocks that are hyped up on social media sites and other online communities, often with little or no regard for fundamentals of the companies being hyped. Other companies that gained similar followings include theater operator AMC Entertainment Holdings (AMC), which nearly went bankrupt after its business tanked during the pandemic, and fallen smartphone superstar BlackBerry (BB). Predictably, these meme stocks have all fallen back, though not necessarily to levels where they were before their dramatic rises started. While AMTD Digital’s case bears many similarities to last year’s meme stocks, it is even more mysterious in some ways. Some media reports attributed its surge to traders on WallStreetBets who bid up GameStop last year. But members of that group appeared as just as puzzled as anyone. “I feel like all of us knew about this stock only when it was too late,” one wrote. Adding to the mystery, shares of another Hong Kong company, investment bank Magic Empire Global Ltd. (MEGL), soared some 2,300% on their first trading day after their New York IPO last Friday. While AMTD Digital has made headlines as a new meme stock, few seem to know what exactly the company does. Created in 2019, AMTD Digital is ultimately controlled by AMTD Group (AMTD), which was founded by Hong Kong billionaire Li Ka-shing’s CK Hutchinson Group (0001.HK; CKHUF, CKHUY) and Commonwealth Bank of Australia (CBA.AX; CBAUF) in 2003. But after its surge, Li Ka-shing, one of Asia’s richest men, moved to distance himself from the company, according to media reports. The company’s main source of revenue is its “SpiderNet” ecosystem, through which it provides capital, technologies and other resources for a network of digital financial startups, and also connects them with other businesses that can help them develop. AMTD Digital receives fees from members of this community, and makes its own equity investment in ventures it considers promising. In addition to nurturing young businesses, AMTD Digital operates its own insurance brokerage business in Hong Kong, which it complemented with the acquisition of a similar venture in Singapore named PolicyPal in 2020. The company has also started investing in digital media and marketing businesses.
Seeking Alpha • Jul 26

Why did AMTD Digital shares climb almost 29% Tuesday? The post-IPO roller coaster

AMTD Digital (NYSE:HKD) saw its shares surge more than 28% Tuesday as the Hong Kong-based developer of digital platforms continued on its post-IPO roller coaster ride. AMTD (HKD), which designs online platforms for several industries, including financial services, media, and content and marketing, closed the day at $56.31 a share. The company just went public on July 15 when it raised $125M in the largest IPO of a Chinese company in New York this year. However, AMTD (HKD) has already experienced the whipsaw effects that can be come with being a newly traded public company. While AMTD's (HKD) shares rocketed north on Tuesday, those same shares fell by 35% on Monday. The company has shown signs of rising margins, but its declining sales growth has raised some concerns on Wall Street.
Seeking Alpha • Jul 19

AMTD Digital Is A Quality Company Going Public In The Wrong Era

AMTD Digital is a financial services platform that is the most integrated in Asia. Over the years, the company has married rapid growth with profitability. This is a rare thing among startups. Nevertheless, despite the quality of the company and the size of its market share, there is an enormous and real risk of losing everything, given the likelihood of a conflict. In addition, the company is overvalued in terms of its FCF yield and P/E multiple. Hong Kong financial services platform, AMTD Digital Inc. (HKD) closed 108% above its initial offer price of $7.80 in its U.S. initial public offering ((IPO)), making it the biggest listing of its size. The company raised nearly $125 million and earned a valuation of $3 billion. What AMTD Digital Does The company has a very interesting mission statement. According to its F-1/A filing, AMTD aspires to be a “fusion reactor for the best entrepreneurs and innovative ideas,” by digitally bringing together all elements within its ecosystem and leveraging that power to deliver “social, technological and economic impact.” The company’s digital solutions platform, AMTD SpiderNet, operates across four business lines: digital financial services, SpiderNet Ecosystem Solutions, Digital Media, Content, and Marketing, and Digital Investments. The company’s revenue is derived from fees and commissions levied on its digital financial service business and its SpiderNet Ecosystem Solutions segment. The company is riding a way of digital transformation, which was accelerated during the pandemic. It is already Asia’s most integrated digital solutions platform, and in this regard, is likely to grow in value given network economies. Asia is a vast market that is in many ways ahead of the United States in terms of product development. Asia also possesses a young, growing population that is becoming wealthier. This presents the company with a massive market opportunity. The fact that many Asian economies are not very developed is a plus for AMTD Digital, because that provides the need, and also allows AMTD Digital to help those economies jump developmental levels by going straight to digital. Financial Performance The company has grown revenue from HK$14.55 million on April 30, 2019, to HK$195.8 million (US$25.2 million) on April 30, 2021, and from HK$162.4 million in the ten months ended February 28, 2021 to HK$168.0 million (US$21.5 million) in the ten months ended February 28, 2022. This represents a compound annual growth rate ((CAGR)) of nearly 140%. According to Credit Suisse’s Base Rate Book, only 2.5% of businesses are able to achieve that kind of growth. Exceptional growth has come with profitability. Net income has increased from HK$21.5 on April 30, 2019 to HK$171.6 million (US$22.1 million) on April 30, 2021, and from HK$113.0 million in the ten months ended February 28, 2021 to HK$186.8 million (US$23.9 million) in the ten months ended February 28, 2022. That represents a 3-year CAGR of nearly 100%. In that period, the company’s free cash flow ((FCF)) has grown from HK$24.56 to HK$213.76 million. Once again, we see incredible growth in a key metric, with FCF growing by a 3-year CAGR of 105.7%. The company’s ability to marry growth with profitability points to its strong competitive advantages. The China Threat Although China and Hong Kong have a “one country, two systems” philosophy, in recent years, Hong Kong increasingly has been brought within the same system as that of mainland China. Ordinarily, this would not be an issue from an investment standpoint, but it is one in a post-Ukraine world. Under President Donald Trump, relations with China soured, and this has continued under President Joe Biden. The Chinese have signaled a readiness to go to war with the United States. The risk of war between the two powers has been steadily rising, with Taiwan the most likely source of conflict. We have already entered a period of de-globalization, with the world splintering into the Western, Chinese, and non-aligned spheres. In this world, geopolitical considerations will outweigh economic considerations. Investors should, then, take into account the probability of war, which Admiral Philip Davidson believes could take place within the next six years, and ask themselves what this means for any investments in China and Hong Kong.

매출 및 비용 세부 내역

AMTD Digital가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.

순이익 및 매출 추이

NYSE:HKD 매출, 비용 및 순이익 (USD Millions)
날짜매출순이익일반관리비연구개발비
31 Oct 251365510
31 Jul 251124610
30 Apr 25873610
31 Jan 25544010
31 Oct 24204400
31 Oct 23506400
31 Jul 23305250
30 Apr 23484210
31 Jan 23543840
31 Oct 22263340
31 Jul 22263040
30 Apr 22422740
31 Jan 22262540
01 May 21252320
31 Jan 21232310
30 Apr 20222010
30 Apr 192210

양질의 수익: HKD는 고품질 수익을 보유하고 있습니다.

이익 마진 증가: HKD의 현재 순 이익률 (40.2%)은 지난해 보다 낮습니다.

잉여현금흐름 대비 순이익 분석

과거 순이익 성장 분석

수익추이: HKD의 수익은 지난 5년 동안 연평균 14.4% 증가했습니다.

성장 가속화: 지난 1년간 HKD 의 수익 증가율(23.1%)은 연간 평균(14.4%)을 초과합니다.

수익 대 산업: HKD의 지난 1년 수익 증가율(23.1%)은 Software 업계의 11.7%를 상회했습니다.

자기자본이익률

높은 ROE: HKD의 자본 수익률(16.1%)은 낮음으로 평가됩니다.

총자산이익률

투하자본수익률

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기업 분석 및 재무 데이터 상태

데이터최종 업데이트 (UTC 시간)
기업 분석2026/05/20 21:31
종가2026/05/20 00:00
수익2025/10/31
연간 수익2025/10/31

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분석가 소스

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