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CASH Financial Services Group Limited

0510.HK
36
Financial - Capital Markets · Financial Services
Price
HK$0.41
+0.00 (+0.00%)
Market Cap
HK$178.9M
Exchange
Hong Kong Stock Exchange
Winston Score
36
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Oct 10, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
8/30
Growth
Mixed
7/20
Cash Flow
Mixed
4/10
Stability
Good
5/10
Valuation
Data not available
0/10
Ownership
Good
10/15
Dividends
Not counted
n/a

34 of 95 counted points = Winston Score 36. Pillars marked n/a do not apply to this company and are left out of the total.

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Share count rising — dilution

+66.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 253.2M (2021) → 421.2M (2025)

§Winston Score History

The full picture

CASH Financial Services Group Limited is a Hong Kong-based financial services company that offers stockbroking, wealth management, and financial advisory services. Its main customers are retail and institutional investors in Hong Kong and mainland China. The company operates under the "CASH" brand and also runs a digital financial platform aimed at making investing more accessible to everyday users.

The company earns money through brokerage commissions, fees from wealth management products, and interest income from margin financing. It operates primarily in Hong Kong, with some reach into the Greater China region, and its gross margin is high because financial services require little physical inventory. However, the company is currently losing money at the operating level, which points to high overhead costs relative to its revenue. The key risk is intense competition from larger brokers and fintech platforms, which puts pressure on fees and makes it hard to grow profitably in a crowded market.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+35.0% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-15.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

HK$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

74.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

HK$88M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

CASH Financial Services Group Limited grew revenue 35% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
57.9%
Premium pricing power — 57.9% gross margin
Profit after running costs
Operating Margin
-72.3%
Losing money on operations — -72.3%
Return on the money invested
ROCE
-18.0%
Weak — -18.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+92.6%
Fast-growing sales (+92.6% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
—
Data not available
Spare cash per sale
FCF Margin
44.1%
Converts sales into free cash efficiently (44.1%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
0.24
Conservative — low debt load (0.24)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
—
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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