PHOEPhoenix Asia Holdings Limited
Is the business good?
How good a business is PHOE?
Phoenix Asia Holdings Limited earns −18% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 27 points below what the capital costs: growth destroys value
- Operating margin
- −17%
Operating margin · Engineering & Construction median 7.8% · fiscal year to FY2026
- Share count, year on year
- +19%
Share count, year on year · shareholders own a smaller slice than a year ago
- Gross margin
- 4.6%
Gross margin
| Year | Operating margin |
|---|---|
| FY2023 | 17% |
| FY2024 | 21% |
| FY2025 | 18% |
| FY2026 | −17% |
Details›
- Gross marginfiscal year to FY2026
- 4.6%
- Operating marginfiscal year to FY2026
- −17%
- Net marginfiscal year to FY2026
- −17%
- Revenue, trailing twelve months
- $7.2M
- Net income, trailing twelve months
- −$1.2M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −18%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from PHOE and who it buys from, as the companies report it.
- Customer G58%
Share of revenue · FY2026 20-F
- Customer C15%
Share of revenue · FY2026 20-F
- Five largest customers97%
Combined share of revenue · FY2026 20-F
- Supplier A27%
Share of purchases · FY2026 20-F
- Supplier E20%
Share of purchases · FY2026 20-F
- Supplier F19%
Share of purchases · FY2026 20-F
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; PHOE’s own figures are from its FY2026 20-F. Smaller customers and suppliers go unreported.