Phoenix Asia Holdings Ltd
PHOE · Construction - Special Trade Contractors · EDGAR filings ↗
Grade
B83Small Hong Kong substructure contractor with top-decile margins, returns and double-digit growth for its sector.
Strengths
- Operating margin 17.6% (100th pct), net margin 13.9% (95th pct), ROA 19% (95th pct)
- Revenue up 28% (79th pct) with FCF margin 15% and ROE 33% (81st pct)
- 30+ year track record and strong liquidity (current ratio 2.2, 91st pct)
Risks
- Sub-scale (~$7.4M revenue) with non-recurrent, tender-based project revenue
- Customer concentration and dependence on Hong Kong government infrastructure spend
- PRC/HK governance and single-market exposure
Key metrics
Gross margin
29.5%
Operating margin
17.6%
Net margin
13.9%
Return on equity
33.0%
Return on assets
19.1%
Revenue growth (QoQ)
28.1%
Net-income growth
-2.9%
Current ratio
2.2×
Free cash flow
$1M
EBITDA
$1M
Tangible book value
$3M
Cash & investments
$2M
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2025-08-12 | 2025-03-31 | 0001641172-25-023128 ↗ |