CompanyGraph
Theme International Holdings Limited
0990 · HKEX · Hong Kong
Price data from its TM4C listing on FSX, quoted in EUR
990.com.hkFinancials as of FY2025
What stands out
- Most companies in its industry are production businesses; this one is a flow business
At a glance
- Depends onDownstream position: depends on 13 industries, supplies 7
- ScaleLevered free cash flow is -$466.95M, lower than 95% of all stocks globally
- FinancialsAltman Z-Score 2.12: grey zone
What this company is and how it runs — written from structure, not news.
What stands out
- Most companies in its industry are production businesses; this one is a flow business
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Sign inThe reported statements, read against the company's own industry.
Financials view
Market Capitalization
10.57BHKD1.35B · vs all stocks (USD)
Trailing P/E
12.10xvs Steel peers
Revenue (TTM)
26.30BHKD3.35B · vs all stocks (USD)
Profit Margin
2.95%vs Steel peers
Beta
1.06xvs all stocks
52-Week Change
-10.87%vs all stocks
Market Capitalization
10.57BHKD1.35B · vs all stocks (USD)
Enterprise Value
6.94BHKD883.95M · vs all stocks (USD)
Trailing P/E
12.10xvs Steel peers
Price to Sales (TTM)
0.3397xvs Steel peers
Price to Book (MRQ)
1.09xvs Steel peers
Enterprise to Revenue
0.2640xvs Steel peers
Enterprise to EBITDA
6.95xvs Steel peers
Profit Margin
2.95%vs Steel peers
Operating Margin
2.87%vs Steel peers
Return on Assets (TTM)
2.54%vs Steel peers
Return on Equity (TTM)
11.37%vs Steel peers
Revenue (TTM)
26.30BHKD3.35B · vs all stocks (USD)
Revenue per Share (TTM)
1.82HKDUpdated Sep 21, 2026Quarterly Revenue Growth
47.70%vs Steel peers
Gross Profit (TTM)
997.78MHKD127.18M · vs all stocks (USD)
EBITDA (TTM)
781.15MHKD99.57M · vs all stocks (USD)
Net Income (TTM)
802.90MHKD102.34M · vs all stocks (USD)
Quarterly Earnings Growth (YoY)
17.70%vs Steel peers
Operating Cash Flow (TTM)
1.79BHKD228.41M · vs all stocks (USD)
Levered Free Cash Flow (TTM)
-3.66BHKD-466.95M · vs all stocks (USD)
Payout Ratio
0.00%vs Steel peers
Minority Interest (Equity)
1.07BHKDFY2025 · Dec 31, 2025Revenue
21.35BHKDFY2025 · Dec 31, 2025Cost of Goods Sold
20.54BHKDFY2025 · Dec 31, 2025Gross Profit
816.02MHKDFY2025 · Dec 31, 2025Operating Income
516.10MHKD65.78M · vs all stocks (USD)
Pre-tax Income
926.42MHKDFY2025 · Dec 31, 2025Income Tax Expense
103.80MHKDFY2025 · Dec 31, 2025Net Income
822.62MHKDFY2025 · Dec 31, 2025EBIT
954.65MHKDFY2025 · Dec 31, 2025EBITDA (Income Statement)
781.15MHKDFY2025 · Dec 31, 2025Selling, General & Administrative
396.89MHKDFY2025 · Dec 31, 2025Non-operating Interest Income
116.75MHKDFY2025 · Dec 31, 2025Non-operating Interest Expense
28.23MHKDFY2025 · Dec 31, 2025EPS (Basic)
0.0518HKDFY2025 · Dec 31, 2025EPS (Diluted)
0.0518HKDFY2025 · Dec 31, 2025Basic Shares Outstanding
13.89BSharesFY2025 · Dec 31, 2025Diluted Shares Outstanding
13.89BSharesFY2025 · Dec 31, 2025Minority Interests (P&L)
-102.96MHKDFY2025 · Dec 31, 2025Preferred Stock Dividends
0.00HKDFY2025 · Dec 31, 2025Operating Cash Flow
-1.10BHKDFY2025 · Dec 31, 2025Free Cash Flow
-1.10BHKDFY2025 · Dec 31, 2025Cash & Cash Equivalents (End of Period)
1.96BHKDFY2025 · Dec 31, 2025Starting Profit (CF Statement)
926.42MHKDFY2025 · Dec 31, 2025Other Non-cash Items
-27.43MHKDFY2025 · Dec 31, 2025Change in Accounts Receivable (CF)
-1.30BHKDFY2025 · Dec 31, 2025Change in Other Assets/Liabilities
-694.20MHKDFY2025 · Dec 31, 2025Capital Expenditures
-6.13MHKDFY2025 · Dec 31, 2025Net Acquisitions
-14.96MHKDFY2025 · Dec 31, 2025Purchase of Investments
-488.32MHKDFY2025 · Dec 31, 2025Sale of Investments
496.54MHKDFY2025 · Dec 31, 2025Other Investing Activity
81.47MHKDFY2025 · Dec 31, 2025Net Investing Cash Flow
68.61MHKDFY2025 · Dec 31, 2025Long-term Debt Payments
-3.16BHKDFY2025 · Dec 31, 2025Net Short-term Debt Issuance
-2.02BHKDFY2025 · Dec 31, 2025Other Financing Charges
1.04BHKDFY2025 · Dec 31, 2025Net Financing Cash Flow
-3.73BHKDFY2025 · Dec 31, 2025Shares Outstanding
14.29BSharesUpdated Sep 21, 2026Float Shares
6.09BSharesUpdated Sep 21, 2026% Held by Insiders
61.97%vs all stocks
% Held by Institutions
2.70%vs all stocks
Total Cash (MRQ)
4.00BHKD510.24M · vs all stocks (USD)
Total Cash per Share (MRQ)
0.2700HKDUpdated Sep 21, 2026Total Debt (MRQ)
819.39MHKD104.44M · vs all stocks (USD)
Total Debt to Equity (MRQ)
0.0870xvs Steel peers
Current Ratio (MRQ)
1.32xvs Steel peers
Book Value per Share (MRQ)
0.5570HKDUpdated Sep 21, 2026Total Assets
22.63BHKD2.88B · vs all stocks (USD)
Total Current Assets
19.81BHKDFY2025 · Dec 31, 2025Total Liabilities
14.23BHKDFY2025 · Dec 31, 2025Total Non-current Assets
2.83BHKDFY2025 · Dec 31, 2025Total Non-current Liabilities
15.90MHKDFY2025 · Dec 31, 2025Total Current Liabilities
14.21BHKDFY2025 · Dec 31, 2025Cash
1.96BHKDFY2025 · Dec 31, 2025Cash & Cash Equivalents
1.96BHKDFY2025 · Dec 31, 2025Other Short-term Investments
392.62MHKDFY2025 · Dec 31, 2025Accounts Receivable
5.09BHKDFY2025 · Dec 31, 2025Inventory
3.53BHKDFY2025 · Dec 31, 2025Accounts Payable
10.71BHKDFY2025 · Dec 31, 2025Short-term Debt
565.66MHKDFY2025 · Dec 31, 2025Long-term Debt
6.61MHKDFY2025 · Dec 31, 2025Common Stock (Book)
35.72MHKDFY2025 · Dec 31, 2025Retained Earnings
4.72BHKDFY2025 · Dec 31, 2025Total Shareholders' Equity
8.40BHKD1.07B · vs all stocks (USD)
52-Week Low
0.4800HKDUpdated Sep 21, 202652-Week High
0.9700HKDUpdated Sep 21, 202652-Week Change
-10.87%vs all stocks
Beta
1.06xvs all stocks
50-Day MA
0.5563HKDUpdated Sep 21, 2026200-Day MA
0.7210HKDUpdated Sep 21, 2026Avg 10-Day Volume
14.36MSharesUpdated Sep 21, 2026Avg 30-Day Volume
10.82MSharesUpdated Sep 21, 2026Diluted EPS (TTM)
0.0500HKDUpdated Sep 21, 2026Shared structure with peers — never a ranking.
Relationships view
Structural observations derived from financial data, industry benchmarks, and supply chain position.
Structural Tensions
Most companies in its industry are production businesses; this one is a flow businessSignificant
Industry peers: 167Share on the common pattern %: 97.00
Financial Health
Altman Z-Score 2.12: grey zoneSignificant
Altman Z-Score: 2.12
Low earnings qualitySignificant
Earnings Quality Score: -0.83
Supply Chain
Downstream position: depends on 13 industries, supplies 7Notable
Outgoing: 7.00Incoming: 13.00
High connectivity hub: 20 industry connectionsNotable
Total Connections: 20.00
Scale
Levered free cash flow is -$466.95M, lower than 95% of all stocks globallySignificant
Levered free cash flow (USD): -466,954,314.875Global P5: -202,685,365.334
Market cap is $1.35B, above the global median of $1.18BNotable
Market cap (USD): 1,347,493,758.241Global Median: 1,180,223,658.953
Revenue is $3.35B, above the global median of $548.88MNotable
Revenue (USD): 3,352,785,629.348Global Median: 548,883,780.48
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