What is AMTD Digital Inc.'s earnings per share (EPS)?

AMTD Digital Inc. (HKD) reported diluted earnings per share of $0.44 for fiscal year 2025. This represents a -24.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

AMTD Digital Inc. Financials

HKD

Source SEC Filings (10-K/10-Q) Updated Oct 31, 2025 Currency USD FYE October

This page shows AMTD Digital Inc. (HKD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).

Rhea AI HKD FY2025 2026-04-22

AMTD Digital’s reported earnings appear to be driven far more by below-operating-line gains than by core operations.

In FY2025, net income reached $97.0M while operating income was only $1.1M, so reported profit sits far above what core operations produced. That reading is reinforced by operating cash flow staying near FY2023 levels, at $14.4M versus $15.5M, which suggests the profit line is being shaped much more by non-operating items than by the underlying business engine.

Between FY2024 and FY2025, long-term debt barely moved, from $174.2M to $176.8M. Yet the current ratio recovered from 0.5x to 1.9x, which suggests the improvement in near-term liquidity came from a larger working-capital cushion rather than from debt reduction.

Capital spending was only $60K in FY2025. That left free cash flow almost identical to operating cash flow, at $14.3M versus $14.4M, and the same light-capex pattern appeared in earlier valid periods, pointing to an asset-light model where sustaining the business does not consume much cash.

Financial Health Signals

Financial Profile 82/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). 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.

Profitability

100

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 100/100, reflecting efficient cost management and pricing power. This is down from 181.0% the prior year.

Growth

100

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 100/100.

Leverage

AMTD Digital Inc. carries a low D/E ratio of 0.67, meaning only $0.67 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

AMTD Digital Inc.'s current ratio of 1.92 indicates adequate short-term liquidity, earning a score of 35/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

AMTD Digital Inc. converts 10.5% of revenue into free cash flow ($14.3M). This strong cash generation earns a score of 69/100.

Returns

100

AMTD Digital Inc. earns a strong 36.8% return on equity (ROE), meaning it generates $37 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 225.6% the prior year.

Piotroski F-Score Neutral

6/9

AMTD Digital Inc. passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.15x

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

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Earnings & Revenue

Revenue

$136.1M

YoY+565.7%

AMTD Digital Inc. generated $136.1M in revenue in fiscal year 2025. This represents an increase of 565.7% from the prior year.

EBITDA

$10.6M

YoY-74.9%

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.

Net Income

$97.0M

YoY+132.7%

AMTD Digital Inc. reported $97.0M in net income in fiscal year 2025. This represents an increase of 132.7% from the prior year.

EPS (Diluted)

$0.44

YoY-24.1%

AMTD Digital Inc. earned $0.44 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 24.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$14.3M

YoY+250.7%

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.

Cash & Debt

$46.4M

YoY-23.8%

AMTD Digital Inc. held $46.4M in cash against $176.8M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

0.8%

YoY-180.2pp

AMTD Digital Inc.'s operating margin was 0.8% in fiscal year 2025, reflecting core business profitability. This is down 180.2 percentage points from the prior year.

Net Margin

71.3%

YoY-132.6pp

AMTD Digital Inc.'s net profit margin was 71.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 132.6 percentage points from the prior year.

Return on Equity

36.8%

YoY-188.8pp

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.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$60K

YoY-62.3%

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.

HKD Income Statement

Metric	FY25	FY24	FY23	FY22
Revenue	$136.1M+565.7%	$20.4M+70.4%	$12.0M-71.6%	$42.2M
Cost of Revenue	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	$58K-94.2%	$996K+34.4%	$741K
Operating Income	$1.1M-97.0%	$37.0M+24083.0%	$153K-74.9%	$609K
Interest Expense	N/A	N/A	N/A	N/A
Income Tax	$1.7M+114.3%	$785K-82.5%	$4.5M+48.0%	$3.0M
Net Income	$97.0M+132.7%	$41.7M+1656.2%	-$2.7M-110.4%	$25.8M
EPS (Diluted)	$0.44-24.1%	$0.58+1.8%	$0.57+39.0%	$0.41

Metric	Q4'25	Q4'24	Q4'23	Q2'23	Q2'22	Q2'21	Q3'20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A

HKD Balance Sheet

Metric	FY25	FY24	FY23	FY22
Total Assets	$955.4M+90.0%	$502.9M-6.4%	$537.5M+30.9%	$410.5M
Current Assets	$321.4M+280.1%	$84.6M-81.2%	$450.6M+18.8%	$379.2M
Cash & Equivalents	$46.4M-23.8%	$60.9M-54.9%	$134.8M+840.5%	$14.3M
Inventory	N/A	N/A	N/A	N/A
Accounts Receivable	$11.8M+78.1%	$6.6M+611.5%	$934K-81.5%	$5.0M
Goodwill	N/A	N/A	$7.6M+1.1%	$7.5M
Total Liabilities	$691.7M+42.8%	$484.5M+204.1%	$159.3M+957.8%	$15.1M
Current Liabilities	$167.0M+2.7%	$162.6M+2.1%	$159.3M+1067.2%	$13.6M
Long-Term Debt	$176.8M+1.5%	$174.2M	N/A	N/A
Total Equity	$263.6M+1327.4%	$18.5M-95.2%	$387.0M-1.5%	$392.9M
Retained Earnings	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q2'23	Q2'22	Q2'21	Q3'20
Total Assets	$955.4M+90.0%	$502.9M-6.4%	$537.5M+11.1%	$483.6M+17.8%	$410.5M+3.9%	$395.0M-14.8%	$463.9M
Current Assets	$321.4M+280.1%	$84.6M-81.2%	$450.6M+41.0%	$319.5M-15.8%	$379.2M+10.8%	$342.4M-21.6%	$436.9M
Cash & Equivalents	$46.4M-23.8%	$60.9M-54.9%	$134.8M-11.8%	$152.9M+966.7%	$14.3M-73.3%	$53.6M+111.8%	$25.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$11.8M+78.1%	$6.6M+611.5%	$934K-90.5%	$9.8M+94.5%	$5.0M-43.6%	$8.9M+526.1%	$1.4M
Goodwill	N/A	N/A	N/A	N/A	$7.5M-1.1%	$7.6M	N/A
Total Liabilities	$691.7M+42.8%	$484.5M+204.1%	$159.3M+13.3%	$140.6M+833.4%	$15.1M-32.7%	$22.4M-92.5%	$299.5M
Current Liabilities	$167.0M+2.7%	$162.6M+2.1%	$159.3M+14.2%	$139.5M+922.4%	$13.6M-22.0%	$17.5M-94.1%	$296.2M
Long-Term Debt	$176.8M+1.5%	$174.2M	N/A	N/A	N/A	N/A	N/A
Total Equity	$263.6M+1327.4%	$18.5M-95.2%	$387.0M+14.8%	$337.2M-14.2%	$392.9M+6.4%	$369.4M+124.7%	$164.4M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A

HKD Cash Flow Statement

Metric	FY25	FY24	FY23	FY22
Operating Cash Flow	$14.4M+238.9%	$4.2M-72.6%	$15.5M+51.2%	$10.3M
Capital Expenditures	$60K-62.3%	$159K+7850.0%	$2K-66.7%	$6K
Free Cash Flow	$14.3M+250.7%	$4.1M-73.6%	$15.5M+51.3%	$10.2M
Investing Cash Flow	-$31.1M+58.8%	-$75.5M+36.8%	-$119.5M-143.2%	-$49.1M
Financing Cash Flow	$2.3M+180.9%	-$2.8M-101.2%	$243.5M	N/A
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q2'23	Q2'22	Q2'21	Q3'20
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A

HKD Financial Ratios

Metric	FY25	FY24	FY23	FY22
Gross Margin	N/A	N/A	N/A	N/A
Operating Margin	0.8%-180.2pp	181.0%+180.7pp	0.3%-1.1pp	1.4%
Net Margin	71.3%-132.6pp	203.8%+226.2pp	-22.3%-83.5pp	61.2%
Return on Equity	36.8%-188.8pp	225.6%+226.3pp	-0.7%-7.3pp	6.6%
Return on Assets	10.2%+1.9pp	8.3%+8.8pp	-0.5%-6.8pp	6.3%
Current Ratio	1.92+1.4	0.52-2.3	2.83-25.0	27.79
Debt-to-Equity	0.67-8.8	9.43+9.0	0.41+0.4	0.04
FCF Margin	10.5%-9.5pp	20.0%-12.0pp	32.0%+7.7pp	24.3%

Metric	Q4'25	Q4'24	Q4'23	Q2'23	Q2'22	Q2'21	Q3'20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.92+1.4	0.52-2.3	2.83+0.5	2.29-25.5	27.79+8.2	19.58+18.1	1.48
Debt-to-Equity	0.67-8.8	9.43+9.0	0.410.0	0.42+0.4	0.04-0.0	0.06-1.8	1.82
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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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 9, indicating neutral financial health. 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 82 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.