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Friday 6 November 2026
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Garden Stage Limited
GSIW Financial Capital Markets
Garden Stage Limited’s revenue for fiscal 2026 (year ended March 2026) was $7.3 million, up 33.2% from fiscal 2025.
10.33
0.07
−0.67%
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Analyst price targets
Free accountTen years at a glance Fiscal years to March
| Ten-year view | Analyst estimates Powerpack | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | |||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | 3 | 3 | 1 | 5 | 7 | +22.2% | — | — | — | — | |
| Gross margin, % | — | — | — | — | — | 93.84 | 93.84 | 95.04 | 73.88 | 43.58 | (50.3) pt | ||||||
| EBT | — | — | — | — | — | 0 | (6) | (5) | (4) | (14) | +185.8% | ||||||
| EBT margin, % | — | — | — | — | — | (6.37) | 0.00 | (324.89) | (78.20) | (190.43) | (184.1) pt | ||||||
| Net income | — | — | — | — | — | 0 | 0 | (5) | (4) | (14) | n/m | ||||||
| Per share, $ | |||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 0.00 | 56.78 | 0.15 | 0.59 | 0.73 | n/m | |||||
| Earnings | — | — | — | — | — | — | (0.30) | (0.49) | (0.47) | (1.38) | +66.1% | ||||||
| Cash flow | — | — | — | — | — | — | (32.69) | (0.76) | (0.12) | (0.42) | (76.5%) | ||||||
| Capex | — | — | — | — | — | — | (0.39) | 0.00 | (0.02) | (0.01) | (69.9%) | ||||||
| Free cash flow | — | — | — | — | — | — | (33.07) | (0.76) | (0.15) | (0.43) | (76.4%) | ||||||
| Book value | — | — | — | — | — | 0.00 | 33.92 | 1.00 | 0.72 | 2.42 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | 0 | 9 | 9 | 10 | +458.5% | ||||||
| Valuation, × | |||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | — | — | — | — | |||||
| P/S | — | — | — | — | — | — | — | — | — | — | — | ||||||
| P/B | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| EV/Sales | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| EV/FCF | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.69 | 1.73 | 0.5 | ||||||
| Cash, $m | |||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | (2) | (7) | (1) | (4) | +31.2% | |||||
| Capex | — | — | — | — | — | — | 0 | 0 | 0 | 0 | +67.7% | ||||||
| Free cash flow | — | — | — | — | — | — | (2) | (7) | (1) | (4) | +31.7% | ||||||
| Balance, $m | |||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | 1 | 1 | 5 | 5 | 13 | +76.5% | |||||
| Net debt | — | — | — | — | — | (6) | (6) | (9) | (8) | (18) | +29.1% | ||||||
| Shareholders’ equity | — | — | — | — | — | 2 | 2 | 9 | 7 | 24 | +87.8% | ||||||
| Returns, % | |||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | 0.00 | (65.58) | (52.60) | (26.58) | (47.86) | (47.9) pt | |||||
| ROIC | — | — | — | — | — | 0.00 | 0.00 | (823.51) | 0.00 | (129.93) | (129.9) pt | ||||||
| ROE | — | — | — | — | — | 0.00 | 0.00 | (81.72) | (54.01) | (89.50) | (89.5) pt | ||||||
| People | |||||||||||||||||
| People | Employees | — | — | — | — | — | — | 12 | 17 | 17 | 20 | +18.6% | |||||
| Revenue/emp, $m | — | — | — | — | — | 0.00 | 0.27 | 0.08 | 0.32 | 0.36 | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Mar 2026 · fundamentals updated 26 Oct 2026
Garden Stage Limited vs peers in Capital Markets (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| FUFU BitFuFu Inc. | $149.7M | — (loss-making) | — (loss-making) | −62.94% (below 0%: shrinking) | n/m | +92.59% (above 0%: growing) | (2.24%) | (51.24%) | Compare |
| AUC ATIF Holdings Limited | $138.3M | — (loss-making) | — (loss-making) | +275.00% (above 0%: growing) | n/m | −4,494.70% (below 0%: shrinking) | 100.00% | 29.15% | Compare |
| DEFT DeFi Technologies Inc. | $133.2M | 5.7× | — | −40.69% (below 0%: shrinking) | n/m | −24.31% (below 0%: shrinking) | 100.00% | (22.78%) | Compare |
| SLNH Soluna Holdings, Inc. | $112.8M | — (loss-making) | — (loss-making) | +144.56% (above 0%: growing) | n/m | −124.94% (below 0%: shrinking) | 5.09% | (112.50%) | Compare |
| GSIW Garden Stage Limited | $111.4M | — | — | — | — | +38.83% (above 0%: growing) | — | — | |
| NAKA KindlyMD, Inc. | $99.7M | — (loss-making) | — (loss-making) | +8,680.66% (above 0%: growing) | n/m | −25.71% (below 0%: shrinking) | 57.82% | (415.62%) | Compare |
| WTF Waton Financial Limited | $94.6M | — | — | — | — | −161.72% (below 0%: shrinking) | — | — | Compare |
| BMHL Bluemount Holdings Limited | $86.5M | — | — | — | — | −870.71% (below 0%: shrinking) | — | — | Compare |
| SIEB Siebert Financial Corp. | $76.9M | — (loss-making) | — (loss-making) | +109.59% (above 0%: growing) | n/m | −1,855.09% (below 0%: shrinking) | 97.24% | (0.78%) | Compare |
| Median of peers | $106.3M | — | — | +127.08% | — | −143.33% | 77.53% | (37.01%) |