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Friday 6 November 2026
Export HIHO’s income statement to Excel — free account
Highway Holdings Limited
HIHO Industrials Metal Fabrication
Highway Holdings Limited’s revenue for fiscal 2026 (year ended March 2026) was $4.8 million, down 35.2% from fiscal 2025.
- Revenue
- +29.2%
- EPS
- +56.3%
- Free cash flow
- −1,093.3%
Quarter to June 2026, against a year earlier
0.86
0.02
+2.38%
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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 | TTM Jun ’26 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 20 | 19 | 14 | 13 | 9 | 12 | 10 | 6 | 7 | 5 | 5 | (14.5%) | — | — | — | — | |
| Gross margin, % | 28.41 | 35.18 | 25.08 | 33.07 | 29.53 | 30.49 | 30.67 | 27.02 | 33.32 | 28.43 | 31.84 | 0.0 pt | ||||||
| EBT | 1 | 2 | (1) | 1 | (1) | 1 | 0 | (1) | 0 | (2) | (2) | n/m | ||||||
| EBT margin, % | 3.88 | 10.81 | (4.86) | 7.13 | (6.54) | 4.59 | (3.06) | (18.02) | 1.98 | (42.25) | (36.92) | (46.1) pt | ||||||
| Net income | 1 | 2 | (1) | 1 | 0 | 0 | 0 | (1) | 0 | (2) | (2) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 5.16 | 5.04 | 3.76 | 3.21 | 2.29 | 3.07 | 2.52 | 1.45 | 1.68 | 1.06 | 1.15 | (16.2%) | |||||
| Earnings | 0.14 | 0.41 | (0.17) | 0.18 | (0.12) | 0.11 | (0.07) | (0.22) | 0.02 | (0.33) | (0.32) | n/m | ||||||
| Cash flow | 0.59 | 0.63 | (0.11) | 0.11 | (0.03) | (0.04) | 0.20 | 0.09 | (0.08) | (0.31) | 0.00 | n/m | ||||||
| Capex | (0.05) | (0.04) | (0.17) | (0.02) | (0.02) | (0.03) | (0.02) | (0.02) | 0.05 | 0.00 | 0.00 | (23.6%) | ||||||
| Free cash flow | 0.53 | 0.59 | (0.29) | 0.10 | (0.05) | (0.07) | 0.18 | 0.07 | (0.03) | (0.31) | 0.00 | n/m | ||||||
| Book value | 2.97 | 3.10 | 2.67 | 2.79 | 2.44 | 2.30 | 2.02 | 1.52 | 1.42 | 1.19 | 1.20 | (9.6%) | ||||||
| Shares, m | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | +2.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 27.86 | 11.67 | 0.00 | 11.94 | 0.00 | 25.64 | 0.00 | 0.00 | 92.50 | 0.00 | 0.00 | 17.0 | |||||
| P/S | 0.76 | 0.97 | 0.91 | 0.63 | 1.63 | 0.92 | 0.81 | 1.45 | 1.10 | 0.72 | 0.75 | 1.0 | ||||||
| P/B | 1.31 | 1.58 | 1.28 | 0.73 | 1.53 | 1.23 | 1.01 | 1.38 | 1.30 | 0.64 | 0.72 | 1.2 | ||||||
| EV/Sales | 0.24 | 0.38 | 0.29 | 0.15 | 1.00 | 0.53 | 0.33 | 0.67 | 0.52 | (0.08) | 0.12 | 0.4 | ||||||
| EV/FCF | 1.70 | 1.45 | 1.03 | 0.54 | 6.81 | (5.53) | 5.35 | 3.31 | 3.15 | 4.68 | (7.68) | 2.2 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 2 | 2 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | (1) | 0 | n/m | |||||
| Capex | 0 | 0 | (1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (22.0%) | ||||||
| Free cash flow | 2 | 2 | (1) | 0 | 0 | 0 | 1 | 0 | 0 | (1) | 0 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 10 | 11 | 8 | 8 | 8 | 7 | 7 | 6 | 5 | 4 | 4 | (10.0%) | |||||
| Net debt | (10) | (11) | (9) | (6) | (6) | (5) | (5) | (7) | (6) | (4) | (3) | (10.1%) | ||||||
| Shareholders’ equity | 11 | 12 | 10 | 11 | 10 | 9 | 8 | 7 | 6 | 5 | 6 | (7.8%) | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 3.05 | 8.69 | (3.77) | 4.11 | (2.74) | 2.92 | (2.05) | (7.61) | 1.02 | (14.83) | (14.75) | (17.9) pt | |||||
| ROIC | 37.10 | 231.60 | (36.02) | 9.51 | (9.68) | 7.95 | (8.98) | (2,755.07) | (113.35) | (90.34) | (60.30) | (127.4) pt | ||||||
| ROE | 4.53 | 13.42 | (5.75) | 6.52 | (4.46) | 4.65 | (3.36) | (12.91) | 1.64 | (26.04) | (25.07) | (30.6) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 260 | 197 | 141 | 206 | 200 | 204 | 170 | 142 | 147 | 99 | — | (10.2%) | |||||
| Revenue/emp, $m | 0.08 | 0.10 | 0.10 | 0.06 | 0.05 | 0.06 | 0.06 | 0.04 | 0.05 | 0.05 | — | (4.8%) | ||||||
Negative figures in brackets.
estimates
Fiscal years to Mar 2026 · latest quarter Jun 2026
Highway Holdings Limited vs peers in Metal Fabrication (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 |
|---|---|---|---|---|---|---|---|---|---|
| IIIN Insteel Industries, Inc. | $521.4M | 17.9× | 18.8× | +17.94% (above 0%: growing) | −46.67% (below 0%: shrinking) | +215.30% (above 0%: growing) | 10.05% | 4.75% | Compare |
| MEC Mayville Engineering Company, Inc. | $332.8M | — (loss-making) | — (loss-making) | +18.05% (above 0%: growing) | n/m | −196.11% (below 0%: shrinking) | 11.01% | 2.55% | Compare |
| TG Tredegar Corporation | $246.0M | 7.4× | 12.1× | +19.82% (above 0%: growing) | +240.00% (above 0%: growing) | +16.12% (above 0%: growing) | 13.42% | 3.81% | Compare |
| AP Ampco-Pittsburgh Corporation | $122.9M | — (loss-making) | 5.9× | −9.01% (below 0%: shrinking) | n/m | −44.03% (below 0%: shrinking) | 21.61% | 4.93% | Compare |
| TPCS Techprecision Corp. | $50.7M | — (loss-making) | — | +23.27% (above 0%: growing) | n/m | +16.03% (above 0%: growing) | 15.39% | (0.49%) | Compare |
| TRSG Tungray Technologies Inc. | $17.9M | — | — | — | — | −165.61% (below 0%: shrinking) | — | — | Compare |
| HIHO Highway Holdings Limited | $4.0M | — (loss-making) | — (loss-making) | +29.22% (above 0%: growing) | +56.25% (above 0%: growing) | −1,093.33% (below 0%: shrinking) | 41.77% | 2.95% | |
| MTEN Mingteng International Corporation Inc. | $2.8M | — | — | — | — | −297.60% (below 0%: shrinking) | — | — | Compare |
| OLOX Safe & Green Holdings Corp. | $1.1M | — (loss-making) | 72.0× | +193.65% (above 0%: growing) | n/m | +130.79% (above 0%: growing) | 11.68% | (138.67%) | Compare |
| Median of peers | $86.8M | — | 15.5× | +18.94% | — | −14.00% | 12.55% | 3.18% |