AXG Financial ServicesBeta data

Solowin Holdings

$1.68-7.97%

Price as of close on Nov 3, 2026 · Financials updated Nov 4, 2026

Basics

Sector: Financial Services
Industry: Capital Markets
Country: Hong Kong
Market cap: 1.8M USD
Full-time employees: 80

Overall health

Not enough data: too little is reported yet for an overall view

Only 2 of 3 categories have enough reported data; an overall score needs at least 3.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 11% of revenue in FY Mar 2026.
Solowin paid employees $3M in stock in FY Mar 2026, 11% of its $28M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Valuation signals disagree. Cheaper than 95% of peers on book value, but only 0% on earnings.
Relative to its book value, Solowin looks cheaper than 95% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss, from a small base ($28M of revenue over 12 months).
Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -46%).

StockQuotient Score

—Fundamentals: Yahoo Finance, not primary filings

Valuation

Is the price right?

80/100

Strong▼ 1 since Oct 27 close

2/2 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 81 → 80

Share price +4087.5%-80
Company's reported figures updated+80
Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ P/B

Compare with peers

Behind the score

Earnings yield (P/E) and book yield (P/B) versus other banks and insurers.

Book yield1590.8%

Yahoo FinanceOutlier capped at sector 5th/95th percentile40% base weight · Z-score 8.30Sector median: 0.7950 · MAD: 0.2843

Earnings yield-1313.4%

Yahoo Finance · trailing 12 monthsNegative (a loss or cash outflow), so it counts as zero whatever the share price60% base weight · Z-score -3.12Sector median: 0.0789 · MAD: 0.0253

Other data (not scored)

EBITDA yieldUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.1095 · MAD: 0.0527

Free cash flow yieldUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.0796 · MAD: 0.0459

Growth

Is it growing?

Insufficient data

Insufficient data: 0 of 1 inputs reported (at least 1 needed). We leave it blank rather than fill the gap with a made-up middle value.

Profitability

Does it earn well?

0/100

Weak

2/2 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROA
▼ ROE

Compare with peers

Behind the score

Return on equity and return on assets versus other banks and insurers.

Return on assets-26.2%

SEC filings · 12 months to Mar 2026Outlier capped at sector 5th/95th percentile50% base weight · Z-score -2.09Sector median: 0.0117 · MAD: 0.0062

Return on equity-89.1%

Yahoo Finance · trailing 12 monthsOutlier capped at sector 5th/95th percentile50% base weight · Z-score -2.86Sector median: 0.1074 · MAD: 0.0388

Other data (not scored)

Gross marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Operating margin-46.2%

Yahoo Finance · fiscal year to Mar 2026Reported valueInformational · 0% composite weightSector median: 0.1450 · MAD: 0.1678

Return on invested capitalUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Risk

Debt, liquidity, price swings

Not rated

Not rated for banks and insurers: debt and share-price swings say little about their risk. We leave it blank rather than fill the gap with a made-up middle value.

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Solowin

Is Solowin getting weaker?: Its latest SEC filing (Aug 3, 2026) showed no major changes.
How is Solowin valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 80/100 against 950 banks & insurance peers. Book yield 1590.8% vs a peer median of 79.5% (stronger than 95% of peers).Book yield 1590.8% vs peers 79.5% (stronger than 95% of peers). Earnings yield -1313.4% vs a peer median of 7.9% (weaker than 100% of peers).Earnings yield -1313.4% vs peers 7.9% (weaker than 100% of peers).
Is Solowin growing?: Insufficient data: 0 of 1 inputs reported (at least 1 needed).
How profitable is Solowin?: Less profitable than most of its peers. Profitability scores 0/100 against 950 banks & insurance peers. Return on assets -26.2% vs a peer median of 1.2% (weaker than 100% of peers).Return on assets -26.2% vs peers 1.2% (weaker than 100% of peers).
How risky is Solowin?: Not rated for banks and insurers: debt and share-price swings say little about their risk.

Latest filing: what changed

Quarter ended Mar 31, 2026 · filed Aug 3, 2026 · compared with the quarter ended Sep 30, 2025

No major changes

Worth watching: Solowin is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	5.8M USD	28.0M USD	+380.1%
Net income (12 months)	−6.9M USD	−13.3M USD	+92.1%
Free cash flow (12 months)	−6.4M USD	−15.5M USD	+144.2%
Cash	8.8M USD	16.8M USD	+91.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Mar 2022	FY Mar 2023	FY Mar 2024	FY Mar 2025	FY Mar 2026	Change
Operating margin	55.8%	225.9%	2.3%	-27106.7%	-46.4%	▲ >999 pts
Net margin	-278.9%	4996.3%	-3559.4%	-28460.0%	-47.4%	▲ >999 pts
Return on assets (ROA)	-10.3%	13.2%	-29.6%	-69.4%	-26.2%	▲ 43 pts
Return on equity (ROE)	-48.9%	40.4%	-51.1%	-180.5%	-52.8%	▲ 128 pts
Debt to equity	—	1.90×	0.57×	0.00×	—	—
Interest coverage	0.86×	—	—	-1626.40×	—	—

AXG price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Not enough data: too little is reported yet for an overall view

Only 2 of 3 categories have enough reported data; an overall score needs at least 3.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 11% of revenue in FY Mar 2026.

Solowin paid employees $3M in stock in FY Mar 2026, 11% of its $28M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Valuation signals disagree. Cheaper than 95% of peers on book value, but only 0% on earnings.

Relative to its book value, Solowin looks cheaper than 95% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss, from a small base ($28M of revenue over 12 months).

Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -46%).

Questions investors ask about Solowin

Is Solowin getting weaker?

Its latest SEC filing (Aug 3, 2026) showed no major changes.

How is Solowin valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 80/100 against 950 banks & insurance peers. Book yield 1590.8% vs a peer median of 79.5% (stronger than 95% of peers).Book yield 1590.8% vs peers 79.5% (stronger than 95% of peers). Earnings yield -1313.4% vs a peer median of 7.9% (weaker than 100% of peers).Earnings yield -1313.4% vs peers 7.9% (weaker than 100% of peers).

Is Solowin growing?

Insufficient data: 0 of 1 inputs reported (at least 1 needed).

How profitable is Solowin?

Less profitable than most of its peers. Profitability scores 0/100 against 950 banks & insurance peers. Return on assets -26.2% vs a peer median of 1.2% (weaker than 100% of peers).Return on assets -26.2% vs peers 1.2% (weaker than 100% of peers).

How risky is Solowin?

Not rated for banks and insurers: debt and share-price swings say little about their risk.

Previous quarter

Latest quarter

Change

Revenue (12 months)

5.8M USD

28.0M USD

+380.1%

Net income (12 months)

−6.9M USD

−13.3M USD

+92.1%

Free cash flow (12 months)

−6.4M USD

−15.5M USD

+144.2%

Cash

8.8M USD

16.8M USD

+91.4%

Key ratios

FY Mar 2022

FY Mar 2023

FY Mar 2024

FY Mar 2025

FY Mar 2026

Change

Operating margin

55.8%

225.9%

2.3%

-27106.7%

-46.4%

▲ >999 pts

Net margin

-278.9%

4996.3%

-3559.4%

-28460.0%

-47.4%

▲ >999 pts

Return on assets (ROA)

-10.3%

13.2%

-29.6%

-69.4%

-26.2%

▲ 43 pts

Return on equity (ROE)

-48.9%

40.4%

-51.1%

-180.5%

-52.8%

▲ 128 pts

Debt to equity

—

1.90×

0.57×

0.00×

—

Interest coverage

0.86×

—

-1626.40×

—