NASDAQ : MFI
mF International Limited — Financial statements
Technology · Software - Application · Hong Kong
Last price 7.75 USD (Oct 30, 2026, 2:55 PM EDT) · Market cap 388.87M
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Financial statements
mF International Limited (MFI) reported revenue of 30.75M HKD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in HKD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 30.75M | 33.82M | 26.09M | 31.96M | 34.93M | 32.21M |
| Cost of Revenue | 17.27M | 23.81M | 13.78M | 14.00M | 16.51M | 16.26M |
| Gross Profit | 13.49M | 10.02M | 12.30M | 17.97M | 18.42M | 15.95M |
| Selling, General & Admin | 59.78M | 44.32M | 31.50M | 11.27M | 10.80M | 5.39M |
| Research & Development | 25.06K | 45.97K | 172.81K | 11.37K | 80.01K | 29.48K |
| Operating Expenses | 59.81M | 44.37M | 31.67M | 11.28M | 10.88M | 5.42M |
| Operating Income | -46.32M | -34.35M | -19.37M | 6.68M | 7.54M | 10.53M |
| Interest Expense | -353.00K | -443.58K | -479.90K | |||
| Interest & Investment Income | 8.56M | 255.97K | 101.15K | |||
| Other Non Operating Income (Expenses) | -1.99B | 124.04M | -159.15K | 423.68K | 531.14K | 1.02M |
| EBT Excluding Unusual Items | -2.03B | 89.95M | -19.43M | 6.75M | 7.63M | 11.08M |
| Gain (Loss) on Sale of Investments | 1.52M | -9.96K | -1.16M | -676.45K | ||
| Asset Writedown | -14.24M | -14.24M | ||||
| Other Unusual Items | 34.26K | 734.06K | 379.36K | |||
| Pretax Income | -2.04B | 75.70M | -19.43M | 6.78M | 7.21M | 10.78M |
| Income Tax Expense | -2.82M | -3.04M | 781.76K | 148.31K | 387.85K | 431.63K |
| Net Income | -2.04B | 78.74M | -20.21M | 6.63M | 6.82M | 10.35M |
| Net Income to Common | -2.04B | 78.74M | -20.21M | 6.63M | 6.82M | 10.35M |
| Shares Outstanding (Basic) | 29.90M | 5.64M | 1.66M | 1.45M | 1.45M | 1.45M |
| Shares Outstanding (Diluted) | 29.90M | 5.81M | 1.66M | 1.45M | 1.45M | 1.45M |
| EPS (Basic) | -68.10 | 13.95 | -12.20 | 4.58 | 4.71 | 7.15 |
| EPS (Diluted) | -68.10 | 13.56 | -12.20 | 4.58 | 4.71 | 7.15 |
| Free Cash Flow | -38.05M | -16.02M | -22.34M | 11.28M | 13.45M | 12.47M |
| Free Cash Flow Per Share | -1.27 | -2.76 | -13.49 | 7.79 | 9.29 | 8.61 |
| Gross Margin | 43.86% | 29.62% | 47.16% | 56.21% | 52.73% | 49.52% |
| Operating Margin | -150.62% | -101.55% | -74.26% | 20.91% | 21.59% | 32.70% |
| Profit Margin | -6,622.15% | 232.81% | -77.48% | 20.74% | 19.52% | 32.13% |
| Free Cash Flow Margin | -123.73% | -47.37% | -85.65% | 35.28% | 38.52% | 38.70% |
| EBITDA | -46.02M | -34.08M | -19.27M | 6.82M | 7.76M | 10.79M |
| EBITDA Margin | -149.63% | -100.76% | -73.89% | 21.33% | 22.23% | 33.49% |
| D&A For EBITDA | 304.40K | 268.03K | 96.88K | 134.95K | 222.17K | 253.06K |
| EBIT | -46.32M | -34.35M | -19.37M | 6.68M | 7.54M | 10.53M |
| EBIT Margin | -150.62% | -101.55% | -74.26% | 20.91% | 21.59% | 32.70% |
| Effective Tax Rate | 2.19% | 5.38% | 4.00% |
Balance sheet
Fiscal year January - December; amounts in HKD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 227.61M | 223.41M | 19.66M | 6.81M | 12.06M | 10.08M |
| Short-Term Investments | 158.36M | 343.86K | 343.86K | 1.98M | 7.05M | |
| Cash & Short-Term Investments | 385.97M | 223.41M | 20.00M | 7.15M | 14.04M | 17.13M |
| Receivables | 90.27K | 224.40K | 1.12M | 2.58M | 1.13M | 681.23K |
| Prepaid Expenses | 564.98K | 6.44M | 10.54M | 371.14K | 346.06K | 378.65K |
| Restricted Cash | 2.34M | |||||
| Other Current Assets | 1.50B | 3.80B | 488.03K | |||
| Total Current Assets | 1.89B | 4.03B | 34.01M | 10.10M | 15.52M | 18.68M |
| Property, Plant & Equipment | 3.27M | 4.65M | 1.97M | 2.99M | 1.85M | 441.98K |
| Other Intangible Assets | 43.08K | 53.38K | 18.79M | 15.34M | 13.56M | 13.74M |
| Long-Term Deferred Charges | 4.98M | 3.12M | ||||
| Other Long-Term Assets | 237.11K | 233.59K | 3.55M | 431.97K | 479.08K | 479.08K |
| Total Assets | 1.89B | 4.04B | 58.31M | 33.85M | 34.54M | 33.34M |
| Accrued Expenses | 2.88M | 5.00M | 2.52M | 1.78M | 1.84M | 1.91M |
| Short-Term Debt | 306.11K | 306.11K | 306.11K | 310.01K | ||
| Current Portion of Long-Term Debt | 314.09K | 1.44M | 4.01M | 3.86M | 3.70M | 2.42M |
| Current Portion of Leases | 2.55M | 2.61M | 1.44M | 1.39M | 1.62M | 138.28K |
| Current Income Taxes Payable | 115.39K | 99.76K | 93.41K | 217.48K | 229.35K | |
| Current Unearned Revenue | 1.57M | 8.76M | 8.67M | 4.62M | 4.20M | 5.47M |
| Other Current Liabilities | 6.64M | 6.12K | ||||
| Total Current Liabilities | 7.43M | 24.55M | 17.04M | 12.18M | 11.90M | 10.26M |
| Long-Term Debt | 2.05M | 6.06M | 9.92M | 13.60M | ||
| Long-Term Leases | 466.24K | 1.76M | 123.25K | 1.57M | 138.29K | |
| Long-Term Unearned Revenue | 104.71K | |||||
| Long-Term Deferred Tax Liabilities | 21.62K | 27.96K | 3.07M | 2.29M | 2.15M | 2.00M |
| Total Liabilities | 7.92M | 26.33M | 22.39M | 22.11M | 24.11M | 25.86M |
| Common Stock | 3.90K | 3.90K | 3.90K | 3.90K | 3.90K | 3.90K |
| Additional Paid-In Capital | 3.94B | 3.94B | 46.42M | 2.04M | 2.04M | 2.04M |
| Retained Earnings | -2.06B | 68.31M | -10.43M | 9.78M | 8.48M | 29.77M |
| Comprehensive Income & Other | 114.95K | -543.18K | -77.43K | -81.39K | -99.26K | -24.34M |
| Shareholders' Equity | 1.88B | 4.01B | 35.91M | 11.74M | 10.43M | 7.48M |
| Total Liabilities & Equity | 1.89B | 4.04B | 58.31M | 33.85M | 34.54M | 33.34M |
| Total Debt | 3.33M | 5.81M | 7.93M | 13.20M | 15.69M | 16.47M |
| Net Cash (Debt) | 382.64M | 217.60M | 12.07M | -6.04M | -1.65M | 665.52K |
| Net Cash Per Share | 12.80 | 37.47 | 7.29 | -4.17 | -1.14 | 0.46 |
| Filing Date Shares Outstanding | 50.18M | 50.18M | 1.66M | 1.66M | 1.45M | 1.45M |
| Total Common Shares Outstanding | 50.18M | 50.18M | 1.66M | 1.45M | 1.45M | 1.45M |
| Working Capital | 1.88B | 4.01B | 16.96M | -2.08M | 3.62M | 8.41M |
| Book Value Per Share | 37.55 | 79.97 | 21.68 | 8.11 | 7.20 | 5.17 |
| Tangible Book Value | 1.88B | 4.01B | 17.13M | -3.59M | -3.14M | -6.26M |
| Tangible Book Value Per Share | 37.55 | 79.96 | 10.34 | -2.48 | -2.17 | -4.32 |
| Machinery | 3.47M | 3.33M | 3.24M | 2.83M | 2.78M | 2.86M |
| Leasehold Improvements | 652.07K | 652.07K | 652.07K | 652.07K |
Cash flow statement
Fiscal year January - December; amounts in HKD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -2.04B | 78.74M | -20.21M | 6.63M | 6.82M | 10.35M |
| Depreciation & Amortization | 3.02M | 2.50M | 1.59M | 1.77M | 1.92M | 1.95M |
| Other Amortization | 3.77M | 6.81M | 4.52M | 5.51M | 6.16M | 6.00M |
| Asset Writedown & Restructuring Costs | 14.24M | 14.24M | ||||
| Loss (Gain) From Sale of Investments | -1.62M | 9.96K | 1.16M | 676.45K | ||
| Provision & Write-off of Bad Debts | -22.01K | -21.57K | 893.17K | 998.02K | 497.10K | |
| Other Operating Activities | 1.98B | -127.06M | 781.76K | 154.19K | 158.49K | 431.63K |
| Change in Accounts Receivable | 302.85K | 917.73K | 668.92K | -2.44M | -949.24K | -436.51K |
| Change in Unearned Revenue | -10.83M | -13.09K | 4.15M | 420.52K | -1.28M | -4.68M |
| Change in Income Taxes | 21.98K | 6.35K | -124.07K | -11.88K | 229.35K | -8.09K |
| Change in Other Net Operating Assets | 7.56M | 8.00M | -14.15M | -1.71M | -1.22M | -1.55M |
| Operating Cash Flow | -37.79M | -15.87M | -21.88M | 11.32M | 13.50M | 12.73M |
| Capital Expenditures | -260.30K | -151.65K | -463.48K | -48.16K | -41.72K | -267.01K |
| Sale (Purchase) of Intangibles | -484.89K | -2.32M | -7.97M | -7.27M | -6.00M | -7.00M |
| Investment in Securities | -156.74M | 1.63M | 3.91M | -4.08M | ||
| Other Investing Activities | 189.95M | 3.84M | ||||
| Investing Cash Flow | 32.46M | 1.37M | -8.43M | -5.69M | -2.13M | -11.35M |
| Short-Term Debt Issued | 7.80M | |||||
| Long-Term Debt Issued | 3.85M | |||||
| Total Debt Issued | 7.80M | 7.80M | 3.85M | |||
| Short-Term Debt Repaid | -8.11M | -3.90K | ||||
| Long-Term Debt Repaid | -4.61M | -3.87M | -3.69M | -2.40M | -1.49M | |
| Total Debt Repaid | -11.56M | -12.72M | -3.87M | -3.69M | -2.40M | -1.49M |
| Net Debt Issued (Repaid) | -3.76M | -4.92M | -3.87M | -3.69M | -2.40M | 2.36M |
| Issuance of Common Stock | 144.86M | 144.86M | 58.50M | |||
| Common Dividends Paid | -5.33M | -10.00M | ||||
| Other Financing Activities | 76.44M | 76.44M | -9.14M | -1.86M | 3.00M | -13.00M |
| Financing Cash Flow | 217.54M | 216.38M | 45.49M | -10.89M | -9.40M | -10.64M |
| Foreign Exchange Rate Adjustments | 179.59K | -465.75K | 3.96K | -5.09K | 13.82K | 545.00 |
| Net Cash Flow | 212.39M | 201.41M | 15.19M | -5.25M | 1.98M | -9.25M |
| Free Cash Flow | -38.05M | -16.02M | -22.34M | 11.28M | 13.45M | 12.47M |
| Free Cash Flow Margin | -123.73% | -47.37% | -85.65% | 35.28% | 38.52% | 38.70% |
| Free Cash Flow Per Share | -1.27 | -2.76 | -13.49 | 7.79 | 9.29 | 8.61 |
| Levered Free Cash Flow | -1.52B | -3.80B | -20.82M | 2.79M | 5.42M | 2.13M |
| Unlevered Free Cash Flow | -1.52B | -3.80B | -20.82M | 3.02M | 5.70M | 2.43M |
| Cash Interest Paid | 213.74K | 287.82K | 325.08K | 483.62K | 451.40K | 480.40K |
| Cash Income Tax Paid | 124.07K | 9.90K | ||||
| Change in Working Capital | -2.94M | 8.91M | -9.45M | -3.75M | -3.21M | -6.67M |
Ratios
Fiscal year January - December; amounts in HKD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 392.88M | 30.78M | 8.90M | |||
| Enterprise Value | 344.09M | 29.72M | 6.30M | |||
| Last Close Price | 7.75 | 18.58 | 5.37 | |||
| PE Ratio | 3.04 | |||||
| PS Ratio | 99.16 | 7.08 | 2.65 | |||
| PB Ratio | 1.62 | 0.06 | 1.93 | |||
| P/TBV Ratio | 1.62 | 0.06 | 4.04 | |||
| EV/Sales Ratio | 86.72 | 6.84 | 1.88 | |||
| Debt / Equity Ratio | 0.00 | 0.00 | 0.22 | 1.12 | 1.50 | 2.20 |
| Debt / EBITDA Ratio | 1.94 | 2.02 | 1.53 | |||
| Debt / FCF Ratio | 1.17 | 1.17 | 1.32 | |||
| Net Debt / Equity Ratio | -0.20 | -0.05 | -0.34 | 0.51 | 0.16 | -0.09 |
| Net Debt / EBITDA Ratio | 8.31 | 6.38 | 0.63 | 0.89 | 0.21 | -0.06 |
| Net Debt / FCF Ratio | 10.06 | 13.58 | 0.54 | 0.54 | 0.12 | -0.05 |
| Asset Turnover | 0.03 | 0.02 | 0.57 | 0.94 | 1.03 | 0.89 |
| Quick Ratio | 51.93 | 9.11 | 1.24 | 0.80 | 1.27 | 1.74 |
| Current Ratio | 254.01 | 164.32 | 2.00 | 0.83 | 1.30 | 1.82 |
| Return on Equity (ROE) | -213.66% | 3.89% | -84.82% | 59.80% | 76.15% | 117.39% |
| Return on Assets (ROA) | -2.99% | -1.05% | -26.27% | 12.21% | 13.89% | 18.24% |
| Return on Invested Capital (ROIC) | -3.08% | -1.80% | -93.08% | 43.78% | 75.56% | 215.09% |
| Return on Capital Employed (ROCE) | -2.50% | -0.90% | -46.90% | 30.80% | 33.30% | 45.60% |
| Earnings Yield | -110.91% | 32.87% | -29.24% | |||
| FCF Yield | -1.25% | -6.69% | -32.32% | |||
| Payout Ratio | 80.39% | 146.66% | ||||
| Buyback Yield / Dilution | -1,705.29% | -250.54% | -14.39% |