Neo-Concept International Group Holdings Limited(NCI)Earnings, Financials & Key Ratios
NCI•NASDAQ
132.7× P/E·Price updated Jun 19, 2026
SectorConsumer CyclicalIndustryApparel ManufacturingSub-IndustryApparel manufacturing, sourcing and textiles
AboutNeo-Concept International Group Holdings Limited provides one-stop apparel solution in Hong Kong. The company offers a suite of services in the apparel supply chain, including market trend analysis, product design and development, raw material sourcing, production and quality control, and logistics management. It sells knitwear/apparel products under the les 100 ciels brand. The company serves brand owners, apparel sourcing agents, and online fashion retailers primarily located in North America, the United Kingdom, and Europe. Neo-Concept International Group Holdings Limited was incorporated in 2021 and is based in Kwun Tong, Hong Kong. Neo-Concept International Group Holdings Limited operates as a subsidiary of Neo-concept (BVI) Limited.Show more
- Revenue$137M-41.8%
- EBITDA$6M-65.7%
- Net Income$332K-95.9%
- EPS (Diluted)0.65-79.7%
- Gross Margin36.93%+76.0%
- EBITDA Margin4.4%-41.1%
- Operating Margin1.32%-73.2%
- Net Margin0.24%-92.9%
- ROE0.58%-98.0%
NCI Key Insights
Neo-Concept International Group Holdings Limited (NCI) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong Piotroski F-Score: 7/9
- ✓Momentum leader: RS Rating 84 (top 16%)
- ✓High quality earnings: Operating CF exceeds net income
- ✓Good 3Y average ROE of 15.1%
- ✓Share count reduced 80.0% through buybacks
- ✓Trading at only 0.8x book value
✗Weaknesses
- ✗Sales declining 5.5% over 5 years
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Get notified when NCI posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
NCI Price & Volume
Neo-Concept International Group Holdings Limited (NCI) stock price & volume — 10-year historical chart
Loading chart...
NCI Growth Metrics
Neo-Concept International Group Holdings Limited (NCI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-5.55%
3 Years-26.63%
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-70.09%
TTM-
EPS CAGR
10 Years-
5 Years-
3 Years-49.21%
TTM-
Return on Capital
10 Years38.87%
5 Years38.87%
3 Years21.72%
Last Year1.88%
NCI Peer Comparison
Neo-Concept International Group Holdings Limited (NCI) competitors in Apparel manufacturing, sourcing and textiles — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 BTBT | 706.64M | 2.17 | -7 | -30.65% | -146.01% | -0.11% | 0.16 | |
 CLPS | 27.8M | 0.99 | -3.82 | 15.17% | -1.27% | -6.06% | 0.59 | |
 CODA | 112.81M | 10.00 | 27.03 | 30.75% | 17.66% | 8.33% | 0.01 | |
 GIII | 1.47B | 34.77 | 23.03 | -7.04% | 4.34% | 7.12% | 0.16 | |
 PVH | 3.55B | 77.07 | 145.42 | 3.44% | 0.25% | 0.45% | 0.90 | |
 HBI | 2.29B | 6.47 | -7.11 | -3.63% | 9.59% | 73.92% | 75.02 | |
 COLM | 3.48B | 66.46 | 20.51 | 0.84% | 4.98% | 10.26% | 0.51 | |
 VFC | 6.79B | 17.33 | 27.08 | 1.06% | 2.65% | 15.92% | 2.69 |
Compare NCI vs Peers
Neo-Concept International Group Holdings Limited (NCI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NCI Income Statement
Neo-Concept International Group Holdings Limited (NCI) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
Sales/Revenue | 182.58M | 240.54M | 347.45M | 174.2M | 235.67M | 137.25M |
Revenue Growth % | - | 31.74% | 44.45% | -49.86% | 35.28% | -41.76% |
Cost of Goods Sold | 170.93M | 217.94M | 305.62M | 139.15M | 186.22M | 86.56M |
COGS % of Revenue | 93.62% | 90.61% | 87.96% | 79.88% | 79.02% | 63.07% |
Gross Profit | 11.65M▲ 0% | 22.59M▲ 93.9% | 41.83M▲ 85.2% | 35.05M▼ 16.2% | 49.44M▲ 41.1% | 50.69M▲ 2.5% |
Gross Margin % | 6.38% | 9.39% | 12.04% | 20.12% | 20.98% | 36.93% |
Gross Profit Growth % | - | 93.85% | 85.17% | -16.22% | 41.08% | 2.51% |
Operating Expenses | 15.31M | 12.9M | 22.9M | 26M | 37.87M | 48.88M |
OpEx % of Revenue | 8.38% | 5.36% | 6.59% | 14.93% | 16.07% | 35.62% |
Selling, General & Admin | 14.63M | 17.83M | 22.75M | 21.36M | 30.59M | 46.79M |
SG&A % of Revenue | 8.01% | 7.41% | 6.55% | 12.26% | 12.98% | 34.09% |
Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
R&D % of Revenue | - | - | - | - | - | - |
Other Operating Expenses | 678.69K | -4.93M | 148.47K | 4.64M | 7.29M | 2.09M |
Operating Income | -3.65M▲ 0% | 9.69M▲ 365.5% | 18.94M▲ 95.4% | 9.05M▼ 52.2% | 11.57M▲ 27.9% | 1.8M▼ 84.4% |
Operating Margin % | -2% | 4.03% | 5.45% | 5.19% | 4.91% | 1.32% |
Operating Income Growth % | - | 365.49% | 95.39% | -52.22% | 27.91% | -84.4% |
EBITDA | -3.33M | 9.73M | 18.95M | 12.45M | 17.6M | 6.04M |
EBITDA Margin % | -1.82% | 4.04% | 5.46% | 7.15% | 7.47% | 4.4% |
EBITDA Growth % | - | 392.1% | 94.84% | -34.31% | 41.38% | -65.71% |
D&A (Non-Cash Add-back) | 319.74K | 37.03K | 18.96K | 3.41M | 6.03M | 4.23M |
EBIT | -324.67K | 9.68M | 21.51M | 11.5M | 12.91M | 3.13M |
Net Interest Income | -2.87M | -2.49M | -6.13M | -5.67M | -3.73M | -1.35M |
Interest Income | 0 | 0 | 0 | 92.95K | 31.95K | 0 |
Interest Expense | 2.87M | 2.49M | 6.13M | 5.76M | 3.76M | 1.35M |
Other Income/Expense | 455.44K | -2.5M | -3.55M | -3.31M | -2.42M | -26.67K |
Pretax Income | -3.19M▲ 0% | 7.19M▲ 325.1% | 15.38M▲ 113.8% | 5.74M▼ 62.7% | 9.15M▲ 59.4% | 1.78M▼ 80.6% |
Pretax Margin % | -1.75% | 2.99% | 4.43% | 3.29% | 3.88% | 1.3% |
Income Tax | 133.48K | 1.74M | 2.98M | 1.33M | 1.09M | 1.45M |
Effective Tax Rate % | -4.18% | 24.22% | 19.37% | 23.09% | 11.87% | 81.35% |
Net Income | -3.33M▲ 0% | 5.45M▲ 263.8% | 12.4M▲ 127.5% | 4.41M▼ 64.4% | 8.06M▲ 82.6% | 331.68K▼ 95.9% |
Net Margin % | -1.82% | 2.27% | 3.57% | 2.53% | 3.42% | 0.24% |
Net Income Growth % | - | 263.77% | 127.51% | -64.4% | 82.65% | -95.89% |
Net Income (Continuing) | -3.33M | 5.45M | 12.4M | 4.41M | 8.06M | 331.68K |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | -1.76▲ 0% | 2.16▲ 222.7% | 4.96▲ 129.6% | 1.76▼ 64.5% | 3.20▲ 81.8% | 0.65▼ 79.7% |
EPS Growth % | - | 222.73% | 129.63% | -64.52% | 81.82% | -79.69% |
EPS (Basic) | -1.76 | 2.16 | 4.96 | 1.76 | 3.20 | 0.65 |
Diluted Shares Outstanding | 1.88M | 2.5M | 2.5M | 2.5M | 2.54M | 508K |
Basic Shares Outstanding | 1.88M | 2.5M | 2.5M | 2.5M | 2.54M | 508K |
Dividend Payout Ratio | - | 4.89% | - | - | - | - |
NCI Balance Sheet
Neo-Concept International Group Holdings Limited (NCI) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
Total Current Assets | 56.12M | 39.74M | 40.89M | 63.74M | 72.34M | 52.57M |
Cash & Short-Term Investments | 421.5K | 1.43M | 8.59M | 5.85M | 9.17M | 2.33M |
Cash Only | 421.5K | 1.43M | 8.59M | 5.85M | 9.17M | 2.33M |
Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
Accounts Receivable | 54.31M | 37.05M | 26.61M | 32.34M | 35.16M | 8.73M |
Days Sales Outstanding | 108.58 | 56.22 | 27.96 | 67.77 | 54.46 | 23.21 |
Inventory | 1.33M | 680.02K | 1.3M | 5.32M | 3.62M | 12.11M |
Days Inventory Outstanding | 2.83 | 1.14 | 1.55 | 13.95 | 7.09 | 51.08 |
Other Current Assets | 11.43K | 584.03K | 4.25M | 8.2M | 3.59K | 4.92K |
Total Non-Current Assets | 7.93M | 483.04K | 987.6K | 26.88M | 63.31M | 63.06M |
Property, Plant & Equipment | 6.9M | 21.77K | 708.27K | 25.18M | 47.24M | 49.12M |
Fixed Asset Turnover | 26.45x | 11050.51x | 490.56x | 6.92x | 4.99x | 2.79x |
Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
Intangible Assets | 426.59K | 274.69K | 112.05K | 0 | 13.54M | 11.04M |
Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 318.13K |
Other Non-Current Assets | 588.63K | 178.71K | 159.4K | 1.7M | 2.33M | 2.51M |
Total Assets | 64.04M▲ 0% | 40.23M▼ 37.2% | 41.87M▲ 4.1% | 90.62M▲ 116.4% | 135.65M▲ 49.7% | 115.63M▼ 14.8% |
Asset Turnover | 2.85x | 5.98x | 8.30x | 1.92x | 1.74x | 1.19x |
Asset Growth % | - | -37.19% | 4.09% | 116.41% | 49.69% | -14.76% |
Total Current Liabilities | 140.42M | 115.29M | 102.17M | 69.83M | 39.3M | 20.15M |
Accounts Payable | 52.16M | 84.61M | 10.43M | 0 | 0 | 0 |
Days Payables Outstanding | 111.38 | 141.71 | 12.46 | - | - | - |
Short-Term Debt | 60.71M | 27.47M | 83.96M | 30.75M | 27.11M | 4.76M |
Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 |
Other Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
Current Ratio | 0.40x | 0.34x | 0.40x | 0.91x | 1.84x | 2.61x |
Quick Ratio | 0.39x | 0.34x | 0.39x | 0.84x | 1.75x | 2.01x |
Cash Conversion Cycle | 0.03 | -84.35 | 17.05 | - | - | - |
Total Non-Current Liabilities | 2.28M | 525.62K | 375.06K | 23.18M | 39.52M | 38.89M |
Long-Term Debt | 529.13K | 525.62K | 375.06K | 0 | 0 | 0 |
Capital Lease Obligations | 1.76M | 0 | 0 | 23.18M | 38.6M | 36.87M |
Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 920.14K | 2.01M |
Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
Total Liabilities | 142.71M | 115.82M | 102.55M | 93M | 78.82M | 59.03M |
Total Debt | 64.26M | 28M | 84.99M | 54.64M | 69.6M | 46.44M |
Net Debt | 63.83M | 26.57M | 76.4M | 48.79M | 60.43M | 44.11M |
Debt / Equity | - | - | - | - | 1.22x | 0.82x |
Debt / EBITDA | - | 2.88x | 4.48x | 4.39x | 3.95x | 7.69x |
Net Debt / EBITDA | - | 2.73x | 4.03x | 3.92x | 3.43x | 7.31x |
Interest Coverage | -0.11x | 3.89x | 3.51x | 2.00x | 3.43x | 2.32x |
Total Equity | -78.66M▲ 0% | -75.59M▲ 3.9% | -60.68M▲ 19.7% | -2.39M▲ 96.1% | 56.83M▲ 2480.9% | 56.6M▼ 0.4% |
Equity Growth % | - | 3.91% | 19.73% | 96.07% | 2480.85% | -0.4% |
Book Value per Share | -41.95 | -30.24 | -24.27 | -0.95 | 22.37 | 111.42 |
Total Shareholders' Equity | -78.66M | -75.59M | -60.68M | -2.39M | 56.83M | 56.6M |
Common Stock | 8.78K | 8.78K | 8.78K | 8.78K | 9.91K | 9.91K |
Retained Earnings | -78.08M | -75.15M | -62.75M | -58.33M | -50.27M | -49.94M |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | -681.48K | -543.42K | 1.97M | 844.79K | 998.97K | 440.22K |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
NCI Cash Flow Statement
Neo-Concept International Group Holdings Limited (NCI) cash flow — operating, investing & free cash flow history
| Metric | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
Cash from Operations | 6.28M | 10.27M | -42.76M | -49.23M | 428.24K | 21.37M |
Operating CF Margin % | 3.44% | 4.27% | -12.31% | -28.26% | 0.18% | 15.57% |
Operating CF Growth % | - | 63.44% | -516.34% | -15.12% | 100.87% | 4891.27% |
Net Income | -3.33M | 5.45M | 12.4M | 4.41M | 8.06M | 331.68K |
Depreciation & Amortization | 319.74K | 287.87K | 148.47K | 3.41M | 2.17M | 4.23M |
Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 |
Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 1.14M |
Other Non-Cash Items | 358.95K | 0 | 0 | 1.45M | 1.28M | -2.12M |
Working Capital Changes | 8.93M | 4.53M | -55.31M | -58.5M | -11.08M | 17.79M |
Change in Receivables | -42.56M | -29.74M | 19.37M | -23.39M | -4.07M | 30.13M |
Change in Inventory | -851.27K | 646.29K | -619.88K | -4.09M | 1.68M | -8.08M |
Change in Payables | 52.06M | 32.55M | -74.18M | -10.43M | 0 | 0 |
Cash from Investing | -115.89K | -78.19K | -73.53K | -1.28M | -19.17M | -4.01M |
Capital Expenditures | -115.89K | -78.19K | -73.53K | -1.28M | -4.14M | -4.01M |
CapEx % of Revenue | 0.06% | 0.03% | 0.02% | 0.73% | 1.76% | 2.92% |
Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | - | - | - | - | - | - |
Other Investing | 0 | 0 | 0 | 0 | -15.02M | 0 |
Cash from Financing | -6.48M | -9.19M | 50M | 47.55M | 21.89M | -22.83M |
Debt Issued (Net) | -238.56K | 22.72M | 56.34M | -53.58M | -3.65M | -22.35M |
Equity Issued (Net) | 0 | 0 | 0 | 0 | 65.64M | 0 |
Dividends Paid | 0 | -266.56K | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 |
Other Financing | -6.24M | -31.64M | -6.34M | 101.13M | -40.1M | -476.19K |
Net Change in Cash | -308.13K▲ 0% | 1.01M▲ 426.7% | 7.16M▲ 611.7% | -2.95M▼ 141.2% | 3.32M▲ 212.3% | -6.83M▼ 306.0% |
Free Cash Flow | 6.17M▲ 0% | 10.19M▲ 65.2% | -42.83M▼ 520.3% | -50.5M▼ 17.9% | -18.74M▲ 62.9% | 17.37M▲ 192.7% |
FCF Margin % | 3.38% | 4.24% | -12.33% | -28.99% | -7.95% | 12.65% |
FCF Growth % | - | 65.24% | -520.25% | -17.9% | 62.89% | 192.68% |
FCF per Share | 3.29 | 4.08 | -17.13 | -20.20 | -7.38 | 34.19 |
FCF Conversion (FCF/Net Income) | -1.89x | 1.88x | -3.45x | -11.15x | 0.05x | 64.44x |
Interest Paid | 0 | 0 | 6.1M | 6.13M | 3.31M | 1.35M |
Taxes Paid | 0 | 0 | 22K | 3.31M | 1.89M | 0 |
NCI Key Ratios
Neo-Concept International Group Holdings Limited (NCI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
Return on Equity (ROE) | - | - | - | - | 29.62% | 0.58% |
Return on Invested Capital (ROIC) | - | - | 90.33% | 21.84% | 10.61% | 1.24% |
Gross Margin | 6.38% | 9.39% | 12.04% | 20.12% | 20.98% | 36.93% |
Net Margin | -1.82% | 2.27% | 3.57% | 2.53% | 3.42% | 0.24% |
Debt / Equity | - | - | - | - | 1.22x | 0.82x |
Interest Coverage | -0.11x | 3.89x | 3.51x | 2.00x | 3.43x | 2.32x |
FCF Conversion | -1.89x | 1.88x | -3.45x | -11.15x | 0.05x | 64.44x |
Revenue Growth | - | 31.74% | 44.45% | -49.86% | 35.28% | -41.76% |
Related:NCI Dividend History·NCI Revenue History·NCI Price History·NCI P/E History·NCI Financial Ratios·NCI Institutional Holders
NCI Frequently Asked Questions
Neo-Concept International Group Holdings Limited (NCI) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Neo-Concept International Group Holdings Limited (NCI) reported $137.2M in revenue for fiscal year 2025. This represents a 25% decrease from $182.6M in 2020.
Neo-Concept International Group Holdings Limited (NCI) saw revenue decline by 41.8% over the past year.
Yes, Neo-Concept International Group Holdings Limited (NCI) is profitable, generating $0.3M in net income for fiscal year 2025 (0.2% net margin).
Dividend & Returns
Neo-Concept International Group Holdings Limited (NCI) has a return on equity (ROE) of 0.6%. This is below average, suggesting room for improvement.
Neo-Concept International Group Holdings Limited (NCI) generated $17.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.