AGM Group Holdings

AGMH

Software - Application · Technology

Price

$1.03

-0.06 (-5.50%)

pre-market:$1.01-1.94%

Market Cap

$2.2M

Exchange

NASDAQ Capital Market

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 13, 2026 · filings through Dec 31, 2025

Share count rising — dilution

+307.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 430K (2021) → 1.8M (2025)

AGM Group Holdings Inc. is a small technology company based in China that operates in two main areas: cryptocurrency mining and financial technology software. The company sells cryptocurrency mining machines and also provides trading software platforms to customers involved in digital assets. It serves individual and institutional clients interested in crypto-related tools and services.

AGM makes money by selling mining hardware and charging for access to its software platforms. It operates primarily in China and other parts of Asia, though it has a small global footprint. The company is tiny, with a market cap near zero, and faces intense competition from much larger mining hardware makers like Bitmain. Its thin gross margin of around 10% and negative operating margin signal that costs are eating into revenue. The biggest risk the company faces is regulatory pressure on cryptocurrency activities in China, which could severely limit its ability to operate or grow.

Winston Score History

Score breakdown

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Quality

Gross Margin

7.8%

Thin — 7.8% gross margin

Operating Margin

-42.5%

Losing money on operations — -42.5%

ROCE

-5.2%

Weak — -5.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-4.6%

Shrinking sales (-4.6% YoY)

EPS YoY

-77.5%

Earnings shrinking (-77.5% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

-726%

Weak — only -726% of profit becomes cash

FCF Margin

-13.3%

Burning cash (-13.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.06

Conservative — low debt load (0.06)

Interest Cover

N/A

—

Data not available

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Valuation

P/E Ratio (TTM)

0.6x

Attractive valuation — P/E 0.6

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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