Detailed financial statements for AGM Group Holdings Inc. (AGMH): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
AGM Group Holdings Inc. is a technology firm established in 2015 and headquartered in Wan Chai, Hong Kong. The company provides a diverse range of services, primarily focusing on financial technology and hardware. Its financial offerings include the MetaTrader 5 platform for futures trading, an online trading education portal called FXSC designed for retail clients, and a specialized foreign exchange trading system tailored for financial institutions.
Analysis Summary
AGM Group Holdings Inc. reported revenue of $30.6M in the most recent fiscal year, growing at a 5-year CAGR of 256.2%.
Trailing-twelve-month margins: gross margin 10.3%, operating margin -15.3%, net margin 1.8%.
At the current price of $0.63, AGMH trades at a P/E of 0.39 and an ROE of 1.50%. Market capitalisation stands at $1M.
Balance sheet quality for AGMH: current ratio of 13.3, net debt of $2.2M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is below average: free cash flow of -$4.1M represents -726% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.9M | $12.5M | $5.1M | $709630 | $53305 | $36.7M | $203.1M | $92.9M | $32.0M | $30.6M |
| Cost of Revenue | $2.3M | $3.5M | $1.7M | $242944 | $38534 | $30.1M | $195.8M | $88.8M | $25.2M | $27.4M |
| Gross Profit | $4.6M | $9.0M | $3.5M | $466686 | $14771 | $6.6M | $42.3M | $4.2M | $6.9M | $3.2M |
| Research & Development | $289487 | $398188 | $1.0M | $127117 | $63450 | $36317 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $1.8M | $3.5M | $3.9M | $1.6M | $964470 | $1.6M | $30.4M | $13.4M | $909042 | $7.8M |
| Operating Expenses | $2.1M | $3.9M | $4.9M | $1.7M | $1.0M | $1.7M | $29.6M | $13.4M | $909042 | $7.8M |
| Operating Income | $2.5M | $5.1M | -$2.4M | -$1.2M | -$1.0M | $4.9M | $12.6M | -$9.2M | $5.9M | -$4.7M |
| EBITDA | $2.5M | $5.4M | -$2.0M | -$1.2M | -$981192 | $5.1M | $16.5M | -$8.8M | $6.0M | -$4.7M |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pre-tax Income | $2.4M | $5.2M | -$2.4M | -$1.4M | -$1.0M | $5.0M | $13.1M | $9.2M | $5.7M | $3.5M |
| Income Tax | $783382 | $1.3M | -$595421 | $123000 | $76343 | $1.4M | $4.3M | -$2.2M | $2.3M | $2.9M |
| Net Income | $2.4M | $3.9M | -$8.4M | -$1.6M | -$1.1M | $3.6M | $11.5M | -$7.4M | $3.1M | $561630 |
| EPS | $5.50 | $9.00 | $-20.00 | $-3.67 | $-2.52 | $8.26 | $23.66 | $-15.34 | $6.43 | $0.33 |
| EPS (Diluted) | $5.50 | $9.00 | $-20.00 | $-3.67 | $-2.52 | $8.26 | $23.66 | $-15.34 | $6.43 | $0.33 |
| Shares Outstanding (Diluted) | $428200 | $428200 | $419020 | $425980 | $435758 | $430220 | $485100 | $485100 | $485100 | $1.8M |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.2M | $7.7M | $7.9M | $2.1M | $664605 | $18.4M | $4.1M | $1.6M | $1.2M | $325338 |
| Short-term Investments | $40720 | $241336 | 0 | 0 | 0 | 0 | 0 | $1.2M | 0 | 0 |
| Receivables | $3.1M | $583307 | 0 | $66535 | $516610 | $3.0M | $94.4M | $8.6M | $17.6M | $25.1M |
| Inventory | $1.1M | $13.0M | 0 | -$680514 | 0 | $22.4M | $3.9M | $5.5M | $27.2M | $5.8M |
| Total Current Assets | $8.6M | $21.5M | $8.4M | $7.3M | $6.2M | $87.3M | $116.8M | $87.1M | $52.3M | $42.3M |
| Property, Plant & Equipment | $75637 | $99630 | $97933 | $75391 | $19320 | $563951 | $1.2M | $649926 | $8532 | $86914 |
| Goodwill | 0 | 0 | 0 | $7.1M | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | $1.7M | $3.1M | $13073 | $11593 | $10113 | $8633 | $55486 | $44007 | $32527 | $21047 |
| Total Assets | $10.5M | $24.7M | $8.8M | $14.5M | $6.1M | $89.3M | $125.2M | $97.5M | $61.4M | $44.2M |
| Accounts Payable | $168076 | $12963 | $79650 | $3209 | $4974 | $14.1M | $64.5M | $21.8M | $12.9M | $63672 |
| Short-term Debt | $3.7M | $1.3M | $1.3M | $609180 | $714436 | $1.6M | $8.1M | $9.4M | $2.2M | $592131 |
| Total Current Liabilities | $6.2M | $16.6M | $3.1M | $2.7M | $2.5M | $62.8M | $94.5M | $78.0M | $39.5M | $3.2M |
| Long-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $1.8M |
| Total Liabilities | $6.2M | $16.6M | $3.1M | $2.7M | $2.4M | $64.3M | $94.8M | $78.1M | $39.5M | $5.1M |
| Retained Earnings | $2.2M | $6.1M | -$2.3M | -$3.9M | -$4.9M | -$1.5M | $9.7M | $2.3M | $5.4M | $6.0M |
| Total Equity | $4.2M | $8.1M | $5.7M | $11.9M | $3.7M | $25.0M | $30.4M | $19.4M | $21.9M | $39.2M |
| Total Debt | $3.7M | $1.3M | $1.3M | $609180 | $714436 | $1.6M | $8.4M | $9.6M | $2.2M | $2.5M |
| Net Debt | -$608615 | -$6.6M | -$6.5M | -$1.5M | $49831 | -$16.8M | $4.3M | $6.8M | $1.0M | $2.2M |
| Working Capital | $2.3M | $4.9M | $5.3M | $4.6M | $3.7M | $24.5M | $22.3M | $9.1M | $12.8M | $39.1M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $1.7M | $3.9M | -$1.8M | -$1.6M | -$1.1M | $3.5M | $8.8M | -$7.4M | $3.4M | $561630 |
| Depreciation & Amortization | $25984 | $246529 | $382680 | $57631 | $33437 | $101710 | $57362 | $473721 | $19303 | $1.9M |
| Stock-based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Working Capital | -$189838 | $2.4M | -$1.2M | $1.3M | $56371 | -$5.5M | -$49.2M | -$1.8M | -$43.4M | -$6.0M |
| Operating Cash Flow | $1.6M | $6.6M | -$2.8M | -$196393 | -$1.7M | -$1.9M | -$17.3M | -$1.7M | $7.1M | -$4.1M |
| Capital Expenditure | -$1.8M | -$1.4M | -$57506 | -$34656 | -$810 | -$339657 | -$50000 | -$10708 | $4 | 0 |
| Acquisitions | 0 | 0 | 0 | -$5.3M | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$174344 | $5.2M | -$2.9M | -$231049 | -$1.7M | -$2.2M | -$17.4M | -$1.7M | $7.1M | -$4.1M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +82.2% | -59.2% | -86.1% | -92.5% | +68767.7% | +453.3% | -54.3% | -65.5% | -4.6% | |
| Net Income Growth (YoY) | +65.9% | -315.7% | +81.4% | +29.8% | +423.7% | +223.1% | -164.8% | +141.9% | -82.0% | |
| EPS Growth (YoY) | +63.6% | -322.2% | +81.6% | +31.3% | +427.8% | +186.4% | -164.8% | +141.9% | -94.9% | |
| Shares Change (YoY) | +0.0% | -2.1% | +1.7% | +2.3% | -1.3% | +12.8% | +0.0% | +0.0% | +261.2% | |
| FCF Growth (YoY) | +3059.6% | -156.0% | +92.0% | -615.4% | -34.0% | -685.5% | +90.2% | +517.7% | -157.3% | |
| Gross Margin | 66.6% | 71.8% | 67.7% | 65.8% | 27.7% | 18.0% | 20.8% | 4.5% | 21.4% | 10.3% |
| Operating Margin | 35.6% | 40.5% | -46.3% | -172.8% | -1900.7% | 13.4% | 6.2% | -9.9% | 18.6% | -15.3% |
| EBITDA Margin | 36.0% | 43.4% | -38.4% | -163.6% | -1840.7% | 13.8% | 8.1% | -9.4% | 18.6% | -15.3% |
| Net Margin | 34.1% | 31.1% | -164.6% | -220.2% | -2058.2% | 9.7% | 5.7% | -8.0% | 9.7% | 1.8% |
| FCF Margin | -2.5% | 41.1% | -56.5% | -32.6% | -3100.7% | -6.0% | -8.6% | -1.8% | 22.2% | -13.3% |
| Effective Tax Rate | 32.0% | 25.0% | 25.0% | -8.5% | -7.5% | 28.4% | 33.2% | -23.7% | 40.6% | 83.4% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $-0.41 | $12.05 | $-6.90 | $-0.54 | $-3.79 | $-5.15 | $-35.85 | $-3.51 | $14.66 | $-2.33 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $428200 | $428200 | $419020 | $425980 | $435758 | $429820 | $485100 | $485100 | $485100 | $1.7M |
What to look at in Technology companies
- Revenue growth 3y (>=15%/year) — Validates sustained traction, not a one-off.
- Gross margin (Sub-sector dependent) — SaaS >=70%, Internet >=55%, Semis >=45%, Hardware >=35%.
- FCF / Revenue (>=20%) — Real cash generated. Many tech firms dress up non-GAAP earnings.
- ROIC (>=15%) — Capital reinvested efficiency — Buffett's first metric.
- SBC / Revenue (<10% healthy) — Stock-based compensation. Silent dilution: >20% destroys value.
- Net Debt / EBITDA (<=2x (1.5x SaaS)) — Resilience in downturns and rate hikes.
Profitability
| Return on Equity | 1.50% |
| Return on Invested Capital | -1.87% |
| Return on Assets | 1.27% |
| Gross Margin | 10.33% |
| Operating Margin | -15.32% |
| Net Margin | 1.84% |
Financial Health
| Debt / Equity | 0.06 |
| Current Ratio | 13.27 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 57.27 | 35.00 | -66.88 | -230.72 | -303.17 | 14.53 | 3.49 | -5.90 | 11.74 | 5.97 |
| P/B | 31.75 | 16.62 | 98.00 | 30.44 | 90.16 | 2.06 | 1.31 | 2.26 | 1.68 | 0.09 |
| P/S | 19.60 | 10.76 | 109.62 | 508.29 | 6245.55 | 1.41 | 0.20 | 0.47 | 1.14 | 0.11 |
| Gross Margin | 66.6% | 71.8% | 67.7% | 65.8% | 27.7% | 18.0% | 20.8% | 4.5% | 21.4% | 10.3% |
| Operating Margin | 35.6% | 40.5% | -46.3% | -172.8% | -1900.7% | 13.4% | 6.2% | -9.9% | 18.6% | -15.3% |
| Net Margin | 34.1% | 31.1% | -164.6% | -220.2% | -2058.2% | 9.7% | 5.7% | -8.0% | 9.7% | 1.8% |
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Explore sector: Technology · Software - Application
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