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Neo-concept International Group Holdings Ltd (NCI) stock

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NASDAQ: NCI Nasdaq Apparel, Accessories & Luxury Goods

C Fundamentals grade

Neo-concept International Group Holdings Ltd is a US-listed company in the apparel, accessories & luxury goods industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: share count (4m) is 0.2x the cover-page count (20m).

Price vs value

Under review: share count (4m) is 0.2x the cover-page count (20m). We'll show the comparison once resolved.

Neo-concept International Group Holdings Ltd valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds4 adding, 0 cuttingOf 0 active managers that changed their stake, 0 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Neo-concept International Group Holdings files

Where Neo-concept International stands after its latest Filing

Revenue for the twelve months was $18m, down 41.7% on a year earlier, against growth of 35.7% a quarter earlier. That puts it 29 of 29 for growth among the apparel, accessories & luxury goods companies we cover. Free-cash-flow margin rose to 12.7% from 4.2% a year earlier. The diluted share count is up 3.7% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 4 of our 5 financial-health checks.

Our model value for Neo-concept International Group Holdings is under review, so past values are not shown until it is resolved.

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.

The Fundamentalytics view

Neo-concept International Group Holdings Ltd's trailing-twelve-month revenue fell 41.7% year on year, with a free-cash-flow margin of 12.7%. Where it stands out: free-cash-flow margin of 12.7% ranks 6 of 28 apparel, accessories & luxury goods companies we cover. Where it lags: revenue growth of -41.7% ranks 29 of 29 apparel, accessories & luxury goods companies we cover.

Current signal Revenue growth decelerating: TTM revenue growth slowed to -41.7% (-77.4pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Neo-concept International Group Holdings Ltd's latest figures clears our strength thresholds.

Things to watch

  • Revenue shrinking. Revenue fell 41.7% over the last 12 months.
  • Growth slowing. The growth rate is 77.4 points lower than a quarter earlier.
  • Margins narrowing. Operating margin is down 3.6 points on a year ago.
  • Share dilution. Diluted shares rose 3.7% in a year.
  • Below peers: gross margin. Gross margin of 36.9% ranks 22 of 27 apparel, accessories & luxury goods companies we cover (median 52.5%).

Price chart

  • 1 day-2.8%
  • 1 week-15.6%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$17.6M
Operating margin
1.3%
Net margin
0.2%
EPS (TTM, diluted)
$0.01

Growth

Revenue growth
−41.7%
Change in growth rate
−77.4 pts
Share count change
+3.7%

Cash

Free cash flow (TTM)
$2.2M
FCF margin
12.7%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for NCI from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Neo-concept International Group Holdings Ltd valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: share count (4m) is 0.2x the cover-page count (20m): held for review.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Neo-concept International Group Holdings Ltd: too few analysts cover it.

Positioning

Short interest
1.2%
of tradable shares
Days to cover
0.02
at average volume
Short interest, 1 month
−73%
to October 15, 2026
Held by institutions
2%
of shares
Held by insiders
3.2%
of shares
Employees
24
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Neo-concept International Group Holdings Ltd in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Neo-concept International Group Holdings Ltd
$10M $20M $30M $40M $50M FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Revenue (TTM), FY21 Q4: $30.9M Revenue (TTM), FY22 Q4: $44.4M Revenue (TTM), FY23 Q4: $22.3M Revenue (TTM), FY24 Q4: $30.2M Revenue (TTM), FY25 Q4: $17.6M $17.6M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY21 Q4 $30.9M
FY22 Q4 $44.4M
FY23 Q4 $22.3M
FY24 Q4 $30.2M
FY25 Q4 $17.6M
Revenue growth, TTM YoY Neo-concept International Group Holdings Ltd
-50% 0% 50% FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Revenue growth, TTM YoY, FY22 Q4: 43.4% Revenue growth, TTM YoY, FY23 Q4: -49.9% Revenue growth, TTM YoY, FY24 Q4: 35.7% Revenue growth, TTM YoY, FY25 Q4: -41.7% -41.7%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY22 Q4 43.4%
FY23 Q4 -49.9%
FY24 Q4 35.7%
FY25 Q4 -41.7%
Operating margin (TTM) Neo-concept International Group Holdings Ltd
0% 2% 4% 6% FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Operating margin (TTM), FY21 Q4: 1.9% Operating margin (TTM), FY22 Q4: 5.4% Operating margin (TTM), FY23 Q4: 5.2% Operating margin (TTM), FY24 Q4: 4.9% Operating margin (TTM), FY25 Q4: 1.3% 1.3%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY21 Q4 1.9%
FY22 Q4 5.4%
FY23 Q4 5.2%
FY24 Q4 4.9%
FY25 Q4 1.3%
FCF margin (TTM) Neo-concept International Group Holdings Ltd
-40% -20% 0% 20% FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 FCF margin (TTM), FY21 Q4: 4.2% FCF margin (TTM), FY22 Q4: -12.3% FCF margin (TTM), FY23 Q4: -28.9% FCF margin (TTM), FY24 Q4: -1.6% FCF margin (TTM), FY25 Q4: 12.7% 12.7%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY21 Q4 4.2%
FY22 Q4 -12.3%
FY23 Q4 -28.9%
FY24 Q4 -1.6%
FY25 Q4 12.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 31 44 22 30 18
Gross profit 3 5 4 6 7
EBITDA 1 2 1 2 0
Operating income 1 2 1 1 0
Net income 1 2 1 1 0
Diluted EPS $0.19 $0.44 $0.16 $0.26 $0.01
Growth (year on year)
Revenue — +43.4% −49.9% +35.7% −41.7%
EBITDA — — −52.1% +35.4% −71.1%
Operating income — — −52.2% +28.3% −84.4%
Net income — +125.8% −64.4% +83.3% −95.9%
Diluted EPS — +128.3% −64.3% +68.0% −96.1%
Margins
Gross margin 9.4% 12.0% 20.1% 21.0% 36.9%
EBITDA margin 1.9% 5.5% 5.2% 5.2% 2.6%
Operating margin 1.9% 5.4% 5.2% 4.9% 1.3%
Net margin 2.3% 3.6% 2.5% 3.4% 0.2%
Free-cash-flow margin 4.2% −12.3% −28.9% −1.6% 12.7%
Cash flow
Cash from operations 1 −5 −6 0 3
Capital spending 0 0 0 1 1
Free cash flow 1 −5 −6 −0 2
Balance sheet
Cash 0 1 1 1 0
Total debt 0 11 4 7 1
Net debt (negative = net cash) −0 10 3 6 1
Diluted shares 4m 4m 4m 4m 4m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 5 checks passed · December 31, 2025
What it owns · $15m
Short-term assets $7mLonger-term assets $8m
What it owes, and who funded it · $15m
Short-term liabilities $3mLonger-term liabilities $5mShareholders' equity $7m
  • Short-term assets cover short-term liabilities $7m of assets due within a year against $3m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $7m short-term assets against $5m of longer-dated liabilities.
  • More cash than debt $299,730 of cash against $1m of debt.
  • Debt below 40% of shareholders' equity Debt is 17% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $3m of operating cash flow against $1m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Neo-concept International Group Holdings Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+3.7%
year over year
Days sales outstanding
19 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in apparel, accessories & luxury goods
Last 12 months unless stated NCI JL DBGI XELB JRSH VRA Median
Revenue, last 12 months $18m $42m $6m $5m $177m $274m $1.5bn
Revenue growth, last 12 months −41.7% 8.1% −33.6% −21.2% 22.4% −1.7% 1.6%
Revenue growth, 3-year average — — −25.5% −40.3% 8.3% −17.8% −1.5%
Revenue growth, latest quarter — — −46.3% −15.1% 26.7% 1.1% 1.1%
Gross margin 36.9% 34.0% −2.8% 94.6% 16.4% 50.4% 52.5%
Operating margin 1.3% 7.0% −699.5% −282.6% 4.5% −3.6% 4.4%
Operating margin, 3-year average — — −300.1% −262.0% 1.6% −6.7% 2.5%
Net margin 0.2% 6.5% −768.3% −343.7% 2.8% −3.7% 3.9%
Cash from operations / revenue 15.6% 9.2% −347.6% −130.9% 6.5% 11.3% 9.2%
Free-cash-flow margin 12.7% 7.6% −347.6% −130.9% 3.8% 10.7% 7.5%
Free-cash-flow margin, 3-year average — — −166.9% −100.1% 0.0% 0.9% 5.8%
Stock pay / revenue — 2.9% 0.0% 14.2% 0.5% 1.3% 0.9%
Change in share count 3.7% 12.6% — 0.0% 7.5% 2.8% 0.0%

Median of all 29 companies we cover in apparel, accessories & luxury goods. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

29 apparel, accessories & luxury goods companies
Measure Company Peer median Rank
Revenue growth Growth -41.7% 1.6% 29 of 29
Change in growth rate Growth -77.4pp +0.0pp 29 of 29
Gross margin Profitability 36.9% 52.5% 22 of 27
Operating margin Profitability 1.3% 4.5% 17 of 26
Net margin Profitability 0.2% 3.9% 19 of 29
Free-cash-flow margin Cash generation 12.7% 7.6% 6 of 28
Long-term debt as % of assets Balance sheet 4.1% 15.1% 5 of 22
Change in share count Balance sheet 3.7% 0.0% 20 of 25
Days sales outstanding Balance sheet 19 days 38 days 9 of 24

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$1.4M
Institutions reporting
4
Positions opened / closed
4 / 0

Top buyers and sellers, Q2 2026: 4 institutions bought and 0 sold ; the biggest buyer was Jane Street Group, LLC (+59K shares) . See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Jane Street Group, LLC $681,387 59K 47.9% —
HRT Financial LP $581,000 51K 40.8% —
Xtx Topco Ltd $158,745 14K 11.2% —
Caitong International Asset Management Co., Ltd $1,342 0K 0.1% —

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 Neo-concept International Group Holdings Ltd's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

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.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Neo-concept International Group Holdings Ltd was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Neo-concept International Group Holdings Ltd in brief

What does Neo-concept International Group Holdings Ltd do?
Neo-concept International Group Holdings Ltd is a US-listed company in the apparel, accessories & luxury goods industry. Its financial year ends in December.
What is Neo-concept International Group Holdings Ltd's stock ticker?
Neo-concept International Group Holdings Ltd trades under the ticker NCI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Neo-concept International Group Holdings Ltd's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Neo-concept International Group Holdings Ltd reported revenue of $17.6M, 41.7% lower than a year earlier, according to its SEC filings.
What is Neo-concept International Group Holdings Ltd's free cash flow?
Neo-concept International Group Holdings Ltd's free-cash-flow margin is 12.7% of revenue over the trailing twelve months, ranking 6 of the 28 apparel, accessories & luxury goods companies we cover.
Who are Neo-concept International Group Holdings Ltd's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Jane Street Group, LLC, HRT Financial LP and Xtx Topco Ltd. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
How much debt does Neo-concept International Group Holdings Ltd have?
Neo-concept International Group Holdings Ltd's debt-to-equity ratio is 16.8%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Neo-concept International Group Holdings Ltd's competitors?
In our Apparel, Accessories & Luxury Goods peer group, the companies closest to Neo-concept International Group Holdings Ltd are J-long Group Ltd, Digital Brands Group, Inc., Xcel Brands, Inc., Jerash Holdings (us), Inc. and Vera Bradley, Inc. The side-by-side comparison below sets their revenue, margins and growth against Neo-concept International Group Holdings Ltd's.