AMTD Digital Inc. Financials
AMTD Digital Inc. (HKD) reported $136.1M in revenue for fiscal year 2025, up 565.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
AMTD Digital’s reported profits look non-operating driven, because cash generation and operating income remain far smaller than net income.
Across FY2024 and FY2025, net income stayed far above operating cash flow, with FY2025 reporting$97.0M of net income but only$14.4M of operating cash flow. Because FY2025 operating income was just$1.1M and FY2024 showed the same cash-conversion gap, the bottom line appears to rely more on items outside the day-to-day operating engine than on revenue turning efficiently into cash.
Liquidity improved sharply from FY2024, with the current ratio rising from 0.5x to 1.9x. At the same time, equity rebuilt to
Capital intensity is very low: FY2025 capex was only
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of AMTD Digital Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
AMTD Digital Inc. has an operating margin of 0.8%, meaning the company retains $1 of operating profit per $100 of revenue. This strong profitability earns a score of 76/100, reflecting efficient cost management and pricing power. This is down from 181.0% the prior year.
AMTD Digital Inc.'s revenue surged 565.7% year-over-year to $136.1M, reflecting rapid business expansion. This strong growth earns a score of 99/100.
AMTD Digital Inc. has elevated debt relative to equity (D/E of 0.67), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 3/100, reflecting increased financial risk.
AMTD Digital Inc.'s current ratio of 1.92 indicates adequate short-term liquidity, earning a score of 55/100. The company can meet its near-term obligations, though with limited headroom.
AMTD Digital Inc. converts 10.5% of revenue into free cash flow ($14.3M). This strong cash generation earns a score of 77/100.
AMTD Digital Inc.'s ROE of 36.8% shows moderate profitability relative to equity, earning a score of 40/100. This is down from 225.6% the prior year.
AMTD Digital Inc. passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, AMTD Digital Inc. generates $0.15 in operating cash flow ($14.4M OCF vs $97.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
AMTD Digital Inc. generated $136.1M in revenue in fiscal year 2025. This represents an increase of 565.7% from the prior year.
AMTD Digital Inc.'s EBITDA was $10.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 74.9% from the prior year.
AMTD Digital Inc. reported $97.0M in net income in fiscal year 2025. This represents an increase of 132.7% from the prior year.
Cash & Balance Sheet
AMTD Digital Inc. generated $14.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 250.7% from the prior year.
AMTD Digital Inc. held $46.4M in cash against $176.8M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
AMTD Digital Inc.'s operating margin was 0.8% in fiscal year 2025, reflecting core business profitability. No change is given against fiscal year 2024: its reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
AMTD Digital Inc.'s net profit margin was 71.3% in fiscal year 2025, showing the share of revenue converted to profit. No change is given against fiscal year 2024: its reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
AMTD Digital Inc.'s ROE was 36.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 188.8 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
AMTD Digital Inc. invested $60K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 62.3% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
HKD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Revenue | $136.1M+565.7% | $20.4M+70.4% | $12.0M | $48.5M+14.8% | $42.2M+67.2% | $25.3M |
| SG&A Expenses | N/A | $58K | N/A | $996K+34.4% | $741K+9.9% | $674K |
| Operating Income | $1.1M-97.0% | $37.0M | N/A | $153K-74.9% | $609K+1661.5% | -$39K |
| Income Tax | $1.7M+114.3% | $785K | N/A | $4.5M+48.0% | $3.0M-4.5% | $3.2M |
| Net Income | $97.0M+132.7% | $41.7M+1656.2% | -$2.7M | $40.8M+57.9% | $25.8M+16.7% | $22.1M |
| EPS (Diluted) | $0.44 | $0.58 | N/A | $0.57+39.0% | $0.41-4.7% | $0.43 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Interest Expense.
HKD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Total Assets | $955.4M+90.0% | $502.9M-6.4% | $537.5M | $483.6M+17.8% | $410.5M+3.9% | $395.0M |
| Current Assets | $321.4M+280.1% | $84.6M-81.2% | $450.6M | $319.5M-15.8% | $379.2M+10.8% | $342.4M |
| Cash & Equivalents | $46.4M-23.8% | $60.9M-54.9% | $134.8M | $152.9M+966.7% | $14.3M-73.3% | $53.6M |
| Accounts Receivable | $11.8M+78.1% | $6.6M+611.5% | $934K | $9.8M+94.5% | $5.0M-43.6% | $8.9M |
| Goodwill | N/A | N/A | N/A | N/A | $7.5M-1.1% | $7.6M |
| Total Liabilities | $691.7M+42.8% | $484.5M+204.1% | $159.3M | $140.6M+833.4% | $15.1M-32.7% | $22.4M |
| Current Liabilities | $167.0M+2.7% | $162.6M+2.1% | $159.3M | $139.5M+922.4% | $13.6M-22.0% | $17.5M |
| Long-Term Debt | $176.8M+1.5% | $174.2M | N/A | N/A | N/A | N/A |
| Total Equity | $263.6M+1327.4% | $18.5M-95.2% | $387.0M | $337.2M-14.2% | $392.9M+6.4% | $369.4M |
Not reported in any period shown, so not listed: Inventory, Retained Earnings.
HKD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $14.4M+238.9% | $4.2M | N/A | $15.5M+51.2% | $10.3M-4.1% | $10.7M |
| Capital Expenditures | $60K-62.3% | $159K | N/A | $2K-66.7% | $6K-72.7% | $22K |
| Free Cash Flow | $14.3M+250.7% | $4.1M | N/A | $15.5M+51.3% | $10.2M-4.0% | $10.7M |
| Investing Cash Flow | -$31.1M+58.8% | -$75.5M | N/A | -$119.5M-143.2% | -$49.1M-397.3% | $16.5M |
| Financing Cash Flow | $2.3M+180.9% | -$2.8M | N/A | $243.5M | N/A | $1.0M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
HKD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Operating Margin | 0.8% | 181.0% | N/A | 0.3%-1.1pp | 1.4%+1.6pp | -0.1% |
| Net Margin | 71.3% | 203.8% | -22.3% | 84.2%+23.0pp | 61.2%-26.4pp | 87.7% |
| Return on Equity | 36.8%-188.8pp | 225.6%+226.3pp | -0.7% | 12.1%+5.5pp | 6.6%+0.6pp | 6.0% |
| Return on Assets | 10.2%+1.9pp | 8.3%+8.8pp | -0.5% | 8.4%+2.2pp | 6.3%+0.7pp | 5.6% |
| Current Ratio | 1.92+1.4x | 0.52-2.3x | 2.83 | 2.29-25.5x | 27.79+8.2x | 19.58 |
| Debt-to-Equity | 0.67-8.8x | 9.43+9.0x | 0.41 | 0.42+0.4x | 0.040.0x | 0.06 |
| FCF Margin | 10.5%-9.5pp | 20.0% | N/A | 32.0%+7.7pp | 24.3%-18.0pp | 42.3% |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
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Where AMTD Digital Inc. Ranks
Frequently Asked Questions
What is AMTD Digital Inc.'s annual revenue?
AMTD Digital Inc. (HKD) reported $136.1M in total revenue for fiscal year 2025. This represents a 565.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is AMTD Digital Inc.'s revenue growing?
AMTD Digital Inc. (HKD) revenue grew by 565.7% year-over-year, from $20.4M to $136.1M in fiscal year 2025.
Is AMTD Digital Inc. profitable?
Yes, AMTD Digital Inc. (HKD) reported a net income of $97.0M in fiscal year 2025, with a net profit margin of 71.3%.
What is AMTD Digital Inc.'s EBITDA?
AMTD Digital Inc. (HKD) had EBITDA of $10.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does AMTD Digital Inc. have?
As of fiscal year 2025, AMTD Digital Inc. (HKD) had $46.4M in cash and equivalents against $176.8M in long-term debt.
What is AMTD Digital Inc.'s operating margin?
AMTD Digital Inc. (HKD) had an operating margin of 0.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is AMTD Digital Inc.'s net profit margin?
AMTD Digital Inc. (HKD) had a net profit margin of 71.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is AMTD Digital Inc.'s return on equity (ROE)?
AMTD Digital Inc. (HKD) has a return on equity of 36.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is AMTD Digital Inc.'s free cash flow?
AMTD Digital Inc. (HKD) generated $14.3M in free cash flow during fiscal year 2025. This represents a 250.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is AMTD Digital Inc.'s operating cash flow?
AMTD Digital Inc. (HKD) generated $14.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are AMTD Digital Inc.'s total assets?
AMTD Digital Inc. (HKD) had $955.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are AMTD Digital Inc.'s capital expenditures?
AMTD Digital Inc. (HKD) invested $60K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is AMTD Digital Inc.'s current ratio?
AMTD Digital Inc. (HKD) had a current ratio of 1.92 as of fiscal year 2025, which is generally considered healthy.
What is AMTD Digital Inc.'s debt-to-equity ratio?
AMTD Digital Inc. (HKD) had a debt-to-equity ratio of 0.67 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is AMTD Digital Inc.'s return on assets (ROA)?
AMTD Digital Inc. (HKD) had a return on assets of 10.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is AMTD Digital Inc.'s Piotroski F-Score?
AMTD Digital Inc. (HKD) has a Piotroski F-Score of 6 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are AMTD Digital Inc.'s earnings high quality?
AMTD Digital Inc. (HKD) has an earnings quality ratio of 0.15x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is AMTD Digital Inc.?
AMTD Digital Inc. (HKD) scores 58 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.