AMTD IDEA

AMTD

Investment - Banking & Investment Services · Financial Services

Price

$0.77

+0.01 (+1.63%)

Market Cap

$5.8M

Exchange

New York Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 9, 2026 · filings through Dec 31, 2025

Share count rising — dilution

+137.4% over 4y

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

Diluted shares outstanding: 6.3M (2021) → 15.0M (2025)

AMTD IDEA Group is a Hong Kong-based financial services company that offers investment banking, asset management, and digital financial services. Its main customers are corporations and institutional clients, primarily in Asia. The company is known for helping businesses raise money through stock listings and bond offerings, and it also operates a digital media and content platform called AMTD SpiderNet.

The company earns money through fees from investment banking deals, asset management services, and its digital ecosystem businesses. It operates mainly in Hong Kong and Southeast Asia, with ambitions to expand across the region. AMTD IDEA became widely known in 2022 when its stock price surged dramatically for reasons unrelated to its fundamentals, which raised questions about market transparency. Going forward, the key risk is its relatively small scale in a competitive financial services market dominated by much larger global and regional banks.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+0.0% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-120.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (7%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

83.5%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$409M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

AMTD IDEA is growing revenue at 0% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

15.1%

Thin — 15.1% gross margin

Operating Margin

-63.0%

Losing money on operations — -63.0%

ROCE

-0.8%

Weak — -0.8% return on capital

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

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Growth

Sales YoY

+5.8%

Slow sales growth (+5.8% YoY)

EPS YoY

-22.3%

Earnings shrinking (-22.3% YoY)

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

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

Weak — only 0% of profit becomes cash

FCF Margin

0.0%

Thin free cash flow (0.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.17

Conservative — low debt load (0.17)

Interest Cover

3.64x

Tight — interest eats into profit (3.6x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

0.2x

Attractive valuation — P/E 0.2

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

P/E vs Forward

-1.7

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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