Ming Shing Group Holdings Limited Financials
This page shows Ming Shing Group Holdings Limited (MSW) 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Ming Shing Group Holdings Limited has an operating margin of -15.8%, meaning the company retains $-16 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 11.8% the prior year.
Ming Shing Group Holdings Limited's revenue surged 22.8% year-over-year to $33.9M, reflecting rapid business expansion. This strong growth earns a score of 94/100.
Ming Shing Group Holdings Limited has elevated debt relative to equity (D/E of 2.91), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 3/100, reflecting increased financial risk.
Ming Shing Group Holdings Limited's current ratio of 1.08 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 23/100, which could limit financial flexibility.
Ming Shing Group Holdings Limited passes 2 of 9 financial strength tests. No profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Ming Shing Group Holdings Limited generates $1.39 in operating cash flow (-$8.0M OCF vs -$5.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Ming Shing Group Holdings Limited earns $-10.5 in operating income for every $1 of interest expense (-$5.4M vs $509K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Ming Shing Group Holdings Limited generated $33.9M in revenue in fiscal year 2025. This represents an increase of 22.8% from the prior year.
Ming Shing Group Holdings Limited's EBITDA was -$5.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 255.3% from the prior year.
Ming Shing Group Holdings Limited reported -$5.7M in net income in fiscal year 2025. This represents a decrease of 346.3% from the prior year.
Ming Shing Group Holdings Limited earned $-0.48 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 328.6% from the prior year.
Ming Shing Group Holdings Limited held $250K in cash against $2.9M in long-term debt as of fiscal year 2025.
Ming Shing Group Holdings Limited had 13M shares outstanding in fiscal year 2025. This represents an increase of 15.3% from the prior year.
Ming Shing Group Holdings Limited's gross margin was -3.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 22.3 percentage points from the prior year.
Ming Shing Group Holdings Limited's operating margin was -15.8% in fiscal year 2025, reflecting core business profitability. This is down 27.6 percentage points from the prior year.
Ming Shing Group Holdings Limited's net profit margin was -16.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 25.4 percentage points from the prior year.
MSW Income Statement
| Metric | Q1'25 | Q1'24 | Q1'23 |
|---|---|---|---|
| Revenue | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A |
| Net Income | N/A | N/A | N/A |
| EPS (Diluted) | N/A | N/A | N/A |
MSW Balance Sheet
| Metric | Q1'25 | Q1'24 | Q1'23 |
|---|---|---|---|
| Total Assets | $13.4M+12.9% | $11.9M+43.5% | $8.3M |
| Current Assets | $10.3M+16.0% | $8.8M+27.9% | $6.9M |
| Cash & Equivalents | $250K-76.9% | $1.1M+233.5% | $324K |
| Inventory | N/A | N/A | N/A |
| Accounts Receivable | $4.2M+156.9% | $1.6M-50.5% | $3.3M |
| Goodwill | N/A | N/A | N/A |
| Total Liabilities | $12.4M+14.2% | $10.9M+37.9% | $7.9M |
| Current Liabilities | $9.5M+23.1% | $7.7M+25.2% | $6.2M |
| Long-Term Debt | $2.9M-5.5% | $3.0M+102.5% | $1.5M |
| Total Equity | $984K-1.4% | $998K+160.7% | $383K |
| Retained Earnings | -$5.8M-686.0% | $997K+161.3% | $382K |
MSW Cash Flow Statement
| Metric | Q1'25 | Q1'24 | Q1'23 |
|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A |
| Capital Expenditures | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A |
| Financing Cash Flow | N/A | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A |
MSW Financial Ratios
| Metric | Q1'25 | Q1'24 | Q1'23 |
|---|---|---|---|
| Gross Margin | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A |
| Return on Assets | N/A | N/A | N/A |
| Current Ratio | 1.08-0.1 | 1.14+0.0 | 1.12 |
| Debt-to-Equity | 2.91-0.1 | 3.04-0.9 | 3.91 |
| FCF Margin | N/A | N/A | N/A |
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Frequently Asked Questions
What is Ming Shing Group Holdings Limited's annual revenue?
Ming Shing Group Holdings Limited (MSW) reported $33.9M in total revenue for fiscal year 2025. This represents a 22.8% 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 Ming Shing Group Holdings Limited's revenue growing?
Ming Shing Group Holdings Limited (MSW) revenue grew by 22.8% year-over-year, from $27.6M to $33.9M in fiscal year 2025.
Is Ming Shing Group Holdings Limited profitable?
No, Ming Shing Group Holdings Limited (MSW) reported a net income of -$5.7M in fiscal year 2025, with a net profit margin of -16.9%.
What is Ming Shing Group Holdings Limited's earnings per share (EPS)?
Ming Shing Group Holdings Limited (MSW) reported diluted earnings per share of $-0.48 for fiscal year 2025. This represents a -328.6% 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.
What is Ming Shing Group Holdings Limited's EBITDA?
Ming Shing Group Holdings Limited (MSW) had EBITDA of -$5.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Ming Shing Group Holdings Limited have?
As of fiscal year 2025, Ming Shing Group Holdings Limited (MSW) had $250K in cash and equivalents against $2.9M in long-term debt.
What is Ming Shing Group Holdings Limited's gross margin?
Ming Shing Group Holdings Limited (MSW) had a gross margin of -3.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ming Shing Group Holdings Limited's operating margin?
Ming Shing Group Holdings Limited (MSW) had an operating margin of -15.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Ming Shing Group Holdings Limited's net profit margin?
Ming Shing Group Holdings Limited (MSW) had a net profit margin of -16.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ming Shing Group Holdings Limited's operating cash flow?
Ming Shing Group Holdings Limited (MSW) generated -$8.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Ming Shing Group Holdings Limited's total assets?
Ming Shing Group Holdings Limited (MSW) had $13.4M in total assets as of fiscal year 2025, including both current and long-term assets.
How many shares does Ming Shing Group Holdings Limited have outstanding?
Ming Shing Group Holdings Limited (MSW) had 13M shares outstanding as of fiscal year 2025.
What is Ming Shing Group Holdings Limited's current ratio?
Ming Shing Group Holdings Limited (MSW) had a current ratio of 1.08 as of fiscal year 2025, which is considered adequate.
What is Ming Shing Group Holdings Limited's debt-to-equity ratio?
Ming Shing Group Holdings Limited (MSW) had a debt-to-equity ratio of 2.91 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ming Shing Group Holdings Limited's return on assets (ROA)?
Ming Shing Group Holdings Limited (MSW) had a return on assets of -42.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ming Shing Group Holdings Limited's cash runway?
Based on fiscal year 2025 data, Ming Shing Group Holdings Limited (MSW) had $250K in cash against an annual operating cash burn of $8.0M. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Ming Shing Group Holdings Limited's Piotroski F-Score?
Ming Shing Group Holdings Limited (MSW) has a Piotroski F-Score of 2 out of 9, indicating weak 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ming Shing Group Holdings Limited's earnings high quality?
Ming Shing Group Holdings Limited (MSW) has an earnings quality ratio of 1.39x, 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.
Can Ming Shing Group Holdings Limited cover its interest payments?
Ming Shing Group Holdings Limited (MSW) has an interest coverage ratio of -10.5x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Ming Shing Group Holdings Limited?
Ming Shing Group Holdings Limited (MSW) scores 30 out of 100 on our Financial Profile, indicating weak 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.