Fenbo Holdings Ltd is a US-listed company in the consumer electronics industry. Its financial year ends in December.
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~$1.3
Revenue-to-maturity cash-flow model
Base case. Range ~$1.3–$1.6 across our lower- and higher-growth cases (0%–5% a year).
No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.
Fenbo Holdings Ltd valuation: adjust assumptions and compare models →
Revenue for the twelve months was $11m. That puts it 10 of 11 for growth among the consumer electronics companies we cover. Free-cash-flow margin held at 1.8%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $1.30 a share, against a share price of $0.65.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Fenbo Holdings Ltd's trailing-twelve-month revenue fell 36.0% year on year, with a free-cash-flow margin of 1.8%. Where it lags: revenue growth of -36.0% ranks 10 of 11 consumer electronics companies we cover.
Current signal Revenue growth decelerating: TTM revenue growth slowed to -36.0% (-47.9pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Nothing in Fenbo Holdings Ltd's latest figures clears our strength thresholds.
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Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for FEBO from the sources we follow. See filings →
We value Fenbo Holdings Ltd as an operating company, with every model that fits that kind of business. Cost of equity 10.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.26 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | ~$1.3 ~$1.3–$1.6 | Primary model, counts double |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | ~$0.1 ~$0.2–$1.5 | Left out: out of range vs price (0.12x) |
| Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$1.3 ~$1.3–$1.6 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Fenbo Holdings Ltd with Consumer Electronics in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
No analyst estimates are published for Fenbo Holdings Ltd: too few analysts cover it.
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue (TTM) |
|---|---|
| FY22 Q4 | $15.3M |
| FY23 Q4 | $15.2M |
| FY24 Q4 | $17M |
| FY25 Q4 | $10.9M |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Operating margin (TTM) |
|---|---|
| FY22 Q4 | -2.1% |
| FY23 Q4 | -0.3% |
| FY24 Q4 | -10.4% |
| FY25 Q4 | -12.8% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | FCF margin (TTM) |
|---|---|
| FY22 Q4 | 4.3% |
| FY23 Q4 | 7.9% |
| FY24 Q4 | -16.4% |
| FY25 Q4 | 1.8% |
| Fiscal year | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|---|
| Income | ||||
| Revenue | 15 | 15 | 17 | 11 |
| Gross profit | 2 | 3 | 3 | 1 |
| EBITDA | −0 | 0 | −2 | −1 |
| Operating income | −0 | −0 | −2 | −1 |
| Net income | 1 | −0 | −2 | −1 |
| Diluted EPS | $11.05 | −$1.85 | −$17.94 | −$12.34 |
| Growth (year on year) | ||||
| Revenue | — | −0.5% | +12.0% | −36.0% |
| Net income | — | −116.9% | — | — |
| Diluted EPS | — | −116.8% | — | — |
| Margins | ||||
| Gross margin | 15.7% | 18.6% | 18.7% | 12.9% |
| EBITDA margin | −1.5% | 0.1% | −10.0% | −12.2% |
| Operating margin | −2.1% | −0.3% | −10.4% | −12.8% |
| Net margin | 7.2% | −1.2% | −11.6% | −12.5% |
| Free-cash-flow margin | 4.3% | 7.9% | −16.4% | 1.8% |
| Cash flow | ||||
| Cash from operations | 1 | 1 | −3 | 0 |
| Capital spending | 0 | 0 | 0 | 0 |
| Free cash flow | 1 | 1 | −3 | 0 |
| Balance sheet | ||||
| Total debt | 0 | 0 | 0 | 0 |
| Diluted shares | 10m | 10m | 11m | 11m |
| Last 12 months unless stated | FEBO | KOSS | MSN | FXHO | LUCY | ISPR | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $11m | $12m | $6m | $28m | $3m | $96m | $96m |
| Revenue growth, last 12 months | −36.0% | −10.7% | −44.6% | −20.5% | 72.5% | −24.7% | −17.9% |
| Revenue growth, 3-year average | — | −2.8% | −10.4% | — | 85.6% | −6.0% | −4.8% |
| Revenue growth, latest quarter | — | −24.0% | −37.1% | — | 74.5% | 32.5% | −7.6% |
| Gross margin | 12.9% | 41.9% | 10.6% | 1.0% | 22.8% | 12.8% | 27.7% |
| Operating margin | −12.8% | −15.5% | −74.7% | −11.1% | — | −33.9% | −12.0% |
| Operating margin, 3-year average | — | −13.6% | −56.7% | — | — | −24.3% | −8.4% |
| Net margin | −12.5% | −7.2% | −65.5% | −14.2% | −225.3% | −34.6% | −14.2% |
| Cash from operations / revenue | 1.9% | −7.0% | −71.4% | −74.5% | −211.1% | −0.6% | −3.5% |
| Free-cash-flow margin | 1.8% | −13.4% | −59.0% | −74.5% | −211.1% | −0.9% | −4.1% |
| Free-cash-flow margin, 3-year average | — | −3.3% | −51.3% | — | −336.6% | −7.0% | −3.3% |
| Stock pay / revenue | — | 0.5% | 0.0% | 44.2% | 22.7% | 3.6% | 2.5% |
| Change in share count | 0.0% | 0.3% | 0.0% | >999% | — | 0.8% | 0.3% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | -36.0% | -17.9% | 10 of 11 |
| Change in growth rate Growth | -47.9pp | -2.8pp | 10 of 11 |
| Gross margin Profitability | 12.9% | 27.7% | 8 of 11 |
| Operating margin Profitability | -12.8% | -11.3% | 6 of 10 |
| Net margin Profitability | -12.5% | -14.2% | 5 of 11 |
| Free-cash-flow margin Cash generation | 1.8% | -4.1% | 4 of 11 |
| Change in share count Balance sheet | 0.0% | 0.3% | 4 of 10 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Citadel Advisors LLC | $23,337 | 26K | 68.6% | New |
| Susquehanna International Group, LLP | $10,435 | 12K | 30.7% | ▼ 60.0% |
| UBS Group AG | $264 | 0K | 0.8% | New |
| Caitong International Asset Management Co., Ltd | $1 | 0K | 0.0% | New |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Fenbo Holdings Ltd's complete shareholder register. Values are as reported by the filers .
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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