AMTD Digital share price today
AMTD Digital Inc. · HKD · Technology · Software - Application · price as of the 4 November 2026 close, updated every trading day · results updated weekly · All US stock lists
AMTD Digital share price: $1.49 at the close on 4 November 2026, −21.6% in a year.
AMTD Digital Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer.
The main question: profits are rising, but only 38% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch.
The price has been between phases. Over the last four quarters, results have been improving, with profit +198.1% on a year earlier, and 38% of the last 3 years' profit came in as cash. What will decide it: whether the cash starts to follow the profit.
What is the AMTD Digital share price today?
AMTD Digital Inc.'s share price was $1.49 at the close on 4 November 2026. That is 9.7% below its average price over the last 200 trading days. In the last 52 weeks it traded between $1 and $2, and at that close it sat 28% of the way up from that low.
A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). The phase helps read everything below.
Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 1 week running.
Nov 2026: $1.49, 9.7% below its 200-day average.
- Price $1.49
- 50-day avg $1.70
- 200-day avg $1.65
| Week | Price | 50-day avg | 200-day avg |
|---|---|---|---|
| 11 Jul 2025 | $1.76 | – | – |
| 18 Jul 2025 | $1.81 | – | – |
| 25 Jul 2025 | $1.84 | – | – |
| 1 Aug 2025 | $1.67 | – | – |
| 8 Aug 2025 | $1.64 | – | – |
| 15 Aug 2025 | $1.66 | – | – |
| 22 Aug 2025 | $1.65 | – | – |
| 29 Aug 2025 | $1.62 | – | – |
| 5 Sep 2025 | $1.60 | – | – |
| 12 Sep 2025 | $1.82 | – | – |
| 19 Sep 2025 | $1.96 | $1.72 | – |
| 26 Sep 2025 | $1.90 | $1.74 | – |
| 3 Oct 2025 | $1.79 | $1.73 | – |
| 10 Oct 2025 | $1.70 | $1.73 | – |
| 17 Oct 2025 | $1.66 | $1.73 | – |
| 24 Oct 2025 | $1.75 | $1.74 | – |
| 31 Oct 2025 | $2.95 | $1.77 | – |
| 7 Nov 2025 | $1.90 | $1.81 | – |
| 14 Nov 2025 | $1.52 | $1.81 | – |
| 21 Nov 2025 | $1.46 | $1.78 | – |
| 28 Nov 2025 | $1.61 | $1.76 | – |
| 5 Dec 2025 | $1.55 | $1.72 | – |
| 12 Dec 2025 | $1.45 | $1.69 | – |
| 19 Dec 2025 | $1.36 | $1.65 | – |
| 26 Dec 2025 | $1.33 | $1.62 | – |
| 2 Jan 2026 | $1.34 | $1.59 | – |
| 9 Jan 2026 | $1.41 | $1.56 | – |
| 16 Jan 2026 | $1.42 | $1.48 | – |
| 23 Jan 2026 | $1.41 | $1.45 | – |
| 30 Jan 2026 | $1.37 | $1.43 | – |
| 6 Feb 2026 | $1.45 | $1.42 | – |
| 13 Feb 2026 | $1.59 | $1.42 | – |
| 20 Feb 2026 | $1.66 | $1.43 | – |
| 27 Feb 2026 | $1.75 | $1.45 | – |
| 6 Mar 2026 | $1.56 | $1.47 | – |
| 13 Mar 2026 | $1.68 | $1.50 | – |
| 20 Mar 2026 | $1.52 | $1.53 | – |
| 27 Mar 2026 | $1.50 | $1.54 | – |
| 2 Apr 2026 | $1.68 | $1.55 | – |
| 10 Apr 2026 | $1.60 | $1.58 | – |
| 17 Apr 2026 | $1.81 | $1.62 | – |
| 24 Apr 2026 | $1.75 | $1.64 | $1.63 |
| 1 May 2026 | $1.76 | $1.65 | $1.63 |
| 8 May 2026 | $1.65 | $1.66 | $1.63 |
| 15 May 2026 | $1.65 | $1.66 | $1.63 |
| 22 May 2026 | $1.67 | $1.67 | $1.63 |
| 29 May 2026 | $1.82 | $1.68 | $1.63 |
| 5 Jun 2026 | $1.67 | $1.70 | $1.63 |
| 12 Jun 2026 | $1.72 | $1.72 | $1.64 |
| 18 Jun 2026 | $1.70 | $1.72 | $1.64 |
| 26 Jun 2026 | $1.59 | $1.71 | $1.64 |
| 2 Jul 2026 | $1.59 | $1.70 | $1.63 |
| 10 Jul 2026 | $1.54 | $1.68 | $1.62 |
| 17 Jul 2026 | $1.61 | $1.66 | $1.61 |
| 24 Jul 2026 | $1.61 | $1.66 | $1.61 |
| 31 Jul 2026 | $1.61 | $1.65 | $1.61 |
| 7 Aug 2026 | $1.70 | $1.65 | $1.61 |
| 14 Aug 2026 | $1.77 | $1.63 | $1.61 |
| 21 Aug 2026 | $1.70 | $1.63 | $1.60 |
| 28 Aug 2026 | $1.70 | $1.63 | $1.59 |
| 4 Sep 2026 | $1.70 | $1.64 | $1.59 |
| 11 Sep 2026 | $1.69 | $1.65 | $1.60 |
| 18 Sep 2026 | $1.71 | $1.66 | $1.60 |
| 25 Sep 2026 | $1.68 | $1.68 | $1.61 |
| 2 Oct 2026 | $1.71 | $1.69 | $1.61 |
| 9 Oct 2026 | $1.73 | $1.70 | $1.62 |
| 16 Oct 2026 | $1.68 | $1.70 | $1.63 |
| 23 Oct 2026 | $1.72 | $1.71 | $1.64 |
| 30 Oct 2026 | $1.66 | $1.70 | $1.65 |
| 4 Nov 2026 | $1.49 | $1.70 | $1.65 |
Week by week since 2025: did it beat the S&P 500 over the past 13 weeks?
Ahead in 21 of 57 weeks
| Week | 13-week return vs S&P 500 |
|---|---|
| 11 Jul 2025 | no S&P 500 reading |
| 18 Jul 2025 | no S&P 500 reading |
| 25 Jul 2025 | no S&P 500 reading |
| 1 Aug 2025 | no S&P 500 reading |
| 8 Aug 2025 | no S&P 500 reading |
| 15 Aug 2025 | no S&P 500 reading |
| 22 Aug 2025 | no S&P 500 reading |
| 29 Aug 2025 | no S&P 500 reading |
| 5 Sep 2025 | no S&P 500 reading |
| 12 Sep 2025 | no S&P 500 reading |
| 19 Sep 2025 | no S&P 500 reading |
| 26 Sep 2025 | no S&P 500 reading |
| 3 Oct 2025 | no S&P 500 reading |
| 10 Oct 2025 | −8.1% |
| 17 Oct 2025 | −14.2% |
| 24 Oct 2025 | −11.2% |
| 31 Oct 2025 | +66.9% |
| 7 Nov 2025 | +10.6% |
| 14 Nov 2025 | −12.9% |
| 21 Nov 2025 | −13.6% |
| 28 Nov 2025 | −6.6% |
| 5 Dec 2025 | −9.1% |
| 12 Dec 2025 | −24.0% |
| 19 Dec 2025 | −33.2% |
| 26 Dec 2025 | −34.3% |
| 2 Jan 2026 | −27.2% |
| 9 Jan 2026 | −23.3% |
| 16 Jan 2026 | −18.6% |
| 23 Jan 2026 | −21.2% |
| 30 Jan 2026 | −55.0% |
| 6 Feb 2026 | −26.6% |
| 13 Feb 2026 | +3.1% |
| 20 Feb 2026 | +9.1% |
| 27 Feb 2026 | +8.3% |
| 6 Mar 2026 | +2.6% |
| 13 Mar 2026 | +18.7% |
| 20 Mar 2026 | +16.5% |
| 27 Mar 2026 | +20.9% |
| 2 Apr 2026 | +29.4% |
| 10 Apr 2026 | +15.6% |
| 17 Apr 2026 | +24.8% |
| 24 Apr 2026 | +20.5% |
| 1 May 2026 | +24.3% |
| 8 May 2026 | +7.0% |
| 15 May 2026 | −4.6% |
| 22 May 2026 | −7.6% |
| 29 May 2026 | −6.3% |
| 5 Jun 2026 | −2.6% |
| 12 Jun 2026 | −9.6% |
| 18 Jun 2026 | −3.3% |
| 26 Jun 2026 | −9.0% |
| 2 Jul 2026 | −18.9% |
| 10 Jul 2026 | −14.9% |
| 17 Jul 2026 | −15.7% |
| 24 Jul 2026 | −11.5% |
| 31 Jul 2026 | −12.2% |
| 7 Aug 2026 | −1.8% |
| 14 Aug 2026 | +2.2% |
| 21 Aug 2026 | −0.9% |
| 28 Aug 2026 | −8.3% |
| 4 Sep 2026 | −2.6% |
| 11 Sep 2026 | −4.8% |
| 18 Sep 2026 | −1.4% |
| 25 Sep 2026 | −0.2% |
| 2 Oct 2026 | +4.2% |
| 9 Oct 2026 | +9.2% |
| 16 Oct 2026 | +1.7% |
| 23 Oct 2026 | +4.0% |
| 30 Oct 2026 | +1.9% |
| 4 Nov 2026 | −11.5% |
Over the last 1 year the share price moved −15% while the S&P 500 moved +23%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. The chart above shows the 13-week comparison for every week.
This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.
What dividend does AMTD Digital pay?
AMTD Digital Inc. pays no dividend. In the last 9 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes.
Which stock lists is AMTD Digital on?
AMTD Digital is on one of our US lists: US tech stocks.
Is AMTD Digital profitable?
AMTD Digital Inc. earned $27.6 M of net profit in the Oct 2025 quarter, +198.1% on the same quarter a year earlier. Full-year FY25 profit was $54.7 M. Over 5 years profit has grown 21.8% a year on average. That is 43.9% of the quarter's revenue. The same quarter a year earlier earned $31.9 M.
Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.
For the full year, FY25 profit was $54.7 M (+23.1% on the year before).
FY25 profit $54.7 M (+23.1% on the year before), 21.8% a year over 5 years
- Net profit $54.7 M
| Quarter | Net profit |
|---|---|
| FY20 | $20.4 M |
| FY21 | $22.1 M |
| FY22 | $27.5 M |
| FY23 | $42.1 M |
| FY23 | $63.9 M |
| FY24 | $65.2 M |
| FY24 | $44.4 M |
| FY25 | $54.7 M |
Growth on a year earlier
- Growth on a year earlier 23.1%
| Quarter | Growth on a year earlier |
|---|---|
| FY20 | – |
| FY21 | 8.4% |
| FY22 | 24.2% |
| FY23 | 53% |
| FY23 | 51.9% |
| FY24 | 2.1% |
| FY24 | −31.8% |
| FY25 | 23.1% |
Oct 2025: $27.6 M (+198.1% on a year earlier)
- Net profit (quarterly) $27.6 M
| Quarter | Net profit (quarterly) |
|---|---|
| Oct 2021 | $5.3 M |
| Apr 2022 | $22.3 M |
| Oct 2022 | $11.1 M |
| Apr 2023 | $30.7 M |
| Oct 2023 | $31.9 M |
| Apr 2024 | $35.2 M |
| Oct 2024 | $9.3 M |
| Apr 2025 | $27.1 M |
| Oct 2025 | $27.6 M |
Growth on a year earlier
- Growth on a year earlier 198.1%
| Quarter | Growth on a year earlier |
|---|---|
| Oct 2021 | – |
| Apr 2022 | – |
| Oct 2022 | 110.9% |
| Apr 2023 | 37.6% |
| Oct 2023 | 188.1% |
| Apr 2024 | 14.7% |
| Oct 2024 | −71% |
| Apr 2025 | −23% |
| Oct 2025 | 198.1% |
Why profit moved: revenue changed +340.9% on a year earlier and the margin moved +61.3 percentage points. Most of the change came from keeping more of each sale.
On average over the last four quarters, profit changed +29.7% and revenue +355.9%. Profit is growing slower than sales: rising costs are taking part of the growth.
How much revenue does AMTD Digital make, and is it growing?
AMTD Digital Inc. reported $62.9 M of revenue in the Oct 2025 quarter, +340.9% on the same quarter a year earlier. That is the 3rd quarter in a row with growth on the year before. Over 5 years it has grown 38.7% a year on average. The last full year, FY25, came in at $136 M.
Revenue is everything the company billed its customers in the period.
FY25 revenue was $136 M, +565.7% on the year before.
FY25 revenue $136 M (+565.7% on the year before), 38.7% a year over 5 years
- Revenue $136 M
| Quarter | Revenue |
|---|---|
| FY20 | $26.5 M |
| FY21 | $34.4 M |
| FY22 | $42.2 M |
| FY23 | $48.5 M |
| FY23 | $49.9 M |
| FY24 | $95.0 M |
| FY24 | $20.4 M |
| FY25 | $136 M |
Growth on a year earlier
- Growth on a year earlier 565.7%
| Quarter | Growth on a year earlier |
|---|---|
| FY20 | – |
| FY21 | 29.9% |
| FY22 | 22.5% |
| FY23 | 14.8% |
| FY23 | 3% |
| FY24 | 90.3% |
| FY24 | −78.5% |
| FY25 | 565.7% |
Oct 2025: $62.9 M (+340.9% on a year earlier), the 3rd quarter in a row of growth
- Revenue (quarterly) $62.9 M
| Quarter | Revenue (quarterly) |
|---|---|
| Oct 2021 | $13.0 M |
| Apr 2022 | $12.4 M |
| Oct 2022 | $13.9 M |
| Apr 2023 | $19.1 M |
| Oct 2023 | $8.7 M |
| Apr 2024 | $6.2 M |
| Oct 2024 | $14.3 M |
| Apr 2025 | $73.2 M |
| Oct 2025 | $62.9 M |
Growth on a year earlier
- Growth on a year earlier 340.9%
| Quarter | Growth on a year earlier |
|---|---|
| Oct 2021 | – |
| Apr 2022 | – |
| Oct 2022 | 6.8% |
| Apr 2023 | 55% |
| Oct 2023 | −37.7% |
| Apr 2024 | −67.8% |
| Oct 2024 | 64.6% |
| Apr 2025 | 1,085.9% |
| Oct 2025 | 340.9% |
Recent pace: the last four quarters grew +355.9% on average, against 38.7% a year over the longer run, so this year is growing faster than its own long-run rate.
How much of every $100 of sales does AMTD Digital keep?
AMTD Digital Inc.'s operating margin was 60.5% in the Oct 2025 quarter, 61.3 percentage points higher than the same quarter a year ago. Over the last four quarters it has moved +84.3 percentage points. Across 5 years it has been between −14.0% and 64.9%. The latest quarter is within that range.
Operating margin is what is left from every $100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.
Why the margin moved: operating margin changed +84.3 percentage points on the year while gross margin changed −3.6 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.
FY25: 63.3%, within a range of −14.0% to 64.9% over 5 years
- Operating margin 63.3%
| Quarter | Operating margin |
|---|---|
| FY22 | 64.9% |
| FY23 | 63.3% |
| FY23 | 57% |
| FY24 | −14% |
| FY25 | 63.3% |
Change on the year before (points)
- Change on the year before (points) +77.3 pts
| Quarter | Change on the year before (points) |
|---|---|
| FY22 | – |
| FY23 | −1.6 pts |
| FY23 | −6.3 pts |
| FY24 | −71.0 pts |
| FY25 | +77.3 pts |
Oct 2025: operating margin 60.5% (+61.3 points on a year earlier)
- Operating margin 60.5%
| Quarter | Operating margin |
|---|---|
| Oct 2021 | 45.9% |
| Apr 2022 | 36.6% |
| Oct 2022 | 52% |
| Apr 2023 | 38.6% |
| Oct 2023 | −23.8% |
| Apr 2024 | −44.6% |
| Oct 2024 | −0.8% |
| Apr 2025 | 65.7% |
| Oct 2025 | 60.5% |
Change on a year earlier (points)
- Change on a year earlier (points) +61.3 pts
| Quarter | Change on a year earlier (points) |
|---|---|
| Oct 2021 | – |
| Apr 2022 | – |
| Oct 2022 | +6.1 pts |
| Apr 2023 | +2.0 pts |
| Oct 2023 | −75.8 pts |
| Apr 2024 | −83.2 pts |
| Oct 2024 | +23.0 pts |
| Apr 2025 | +110.3 pts |
| Oct 2025 | +61.3 pts |
Is AMTD Digital's profit turning into cash?
Over the last 3 years, 38% of AMTD Digital Inc.'s reported profit came in as cash from its operations, a gap worth watching. In FY25 it brought in $14.4 M of operating cash against $54.7 M of profit. After $60.0 K of spending on assets, $14.3 M was left over as free cash.
The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.
Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.
FY25: operating cash $14.4 M against profit $54.7 M; 38% of 3 years' profit came in as cash
- Operating cash $14.4 M
- Net profit $54.7 M
- Free cash $14.3 M
| Quarter | Operating cash | Net profit | Free cash |
|---|---|---|---|
| FY20 | $27.6 M | $20.4 M | $27.6 M |
| FY21 | $10.7 M | $22.1 M | $10.7 M |
| FY22 | $10.3 M | $27.5 M | $10.2 M |
| FY23 | $15.5 M | $42.1 M | $15.5 M |
| FY23 | $42.7 M | $63.9 M | $42.7 M |
| FY24 | $4.2 M | $44.4 M | $4.1 M |
| FY25 | $14.4 M | $54.7 M | $14.3 M |
FY25: operating cash was 26% of profit (38% over three years)
- Operating cash as % of profit 26%
- Break-even line 100%
| Quarter | Operating cash as % of profit | Break-even line |
|---|---|---|
| FY20 | 135% | 100% |
| FY21 | 48% | 100% |
| FY22 | 37% | 100% |
| FY23 | 37% | 100% |
| FY23 | 67% | 100% |
| FY24 | 10% | 100% |
| FY25 | 26% | 100% |
Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason.
What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building.
Where does AMTD Digital's cash go?
AMTD Digital Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $253 K on assets over the last 3 years. Averaged over those years that is 0.1% of FY25 revenue a year.
Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.
Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn.
Spending on assets: $253 K over the last 3 years.
FY25: capex $60.0 K, down from the year before
- Capex $60.0 K
| Quarter | Capex |
|---|---|
| FY21 | $22.0 K |
| FY22 | $6.0 K |
| FY23 | $2.0 K |
| FY23 | $34.0 K |
| FY24 | $159 K |
| FY25 | $60.0 K |
In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.
What is AMTD Digital's P/E ratio, and how does it compare with its own history?
AMTD Digital Inc.'s P/E is 9.1×, with too little history to compare. This compares the share price with the company’s own past. It does not say what the business is worth.
P/E is the share price divided by a year's profit per share: how many dollars the market pays for each dollar of yearly profit.
Why the multiple is where it is: over the past year earnings per share moved −24.0% while the price moved −21.6%. The price did better than earnings, which pushed the multiple up within its own range.
In short: there is too little history to say whether the multiple is high or low for this company, so the earnings trend underneath matters more than the multiple.
Is the AMTD Digital business getting better or worse?
AMTD Digital Inc.'s business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 7 quarters of 1 measure, with some gaps.
Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.
Growth year by year: revenue +565.7% in FY25, profit +23.1%
- Revenue growth 565.7%
| Quarter | Revenue growth |
|---|---|
| FY20 | – |
| FY21 | 29.9% |
| FY22 | 22.5% |
| FY23 | 14.8% |
| FY23 | 3% |
| FY24 | 90.3% |
| FY24 | −78.5% |
| FY25 | 565.7% |
Profit growth, EPS growth
- Profit growth 23.1%
- EPS growth −24%
| Quarter | Profit growth | EPS growth |
|---|---|---|
| FY20 | – | – |
| FY21 | 8.4% | −9.5% |
| FY22 | 24.2% | −5.4% |
| FY23 | 53% | 39.4% |
| FY23 | 51.9% | 47% |
| FY24 | 2.1% | 5.5% |
| FY24 | −31.8% | −34.2% |
| FY25 | 23.1% | −24% |
Three growth lines over twelve quarters
- Revenue 300%
| Quarter | Revenue |
|---|---|
| Oct 2021 | – |
| Apr 2022 | – |
| Oct 2022 | 6.8% |
| Apr 2023 | 55% |
| Oct 2023 | −37.7% |
| Apr 2024 | −67.8% |
| Oct 2024 | 64.6% |
| Apr 2025 | 300% |
| Oct 2025 | 300% |
Profit
- Profit 198.1%
| Quarter | Profit |
|---|---|
| Oct 2021 | – |
| Apr 2022 | – |
| Oct 2022 | 110.9% |
| Apr 2023 | 37.6% |
| Oct 2023 | 188.1% |
| Apr 2024 | 14.7% |
| Oct 2024 | −71% |
| Apr 2025 | −23% |
| Oct 2025 | 198.1% |
ROE: the return line, yearly figures
- ROE 9.1%
| Quarter | ROE |
|---|---|
| FY23 | 8.1% |
| FY23 | 16.9% |
| FY24 | 28% |
| FY25 | 9.1% |
Why it matters: with too little history, we say so rather than guess a direction.
One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.
The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.
There are fewer than eight usable quarters, so this page does not guess a direction from so little history.
Compound annual growth rate (%)
Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the stock price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.
| Measure | 1yr | 3yr | 5yr | 10yr |
|---|---|---|---|---|
| Revenue | +43.3% | +47.7% | +38.7% | — |
| Profit | −16.1% | +25.8% | +21.8% | — |
| EPS | −50.0% | +2.6% | −1.5% | — |
| Stock price | −21.6% | — | — | — |
How much does AMTD Digital earn on its capital?
AMTD Digital Inc. earned a ROE of 9% in FY25. That is up from a low of 6% in FY21. Its return on capital used (ROIC) is 2.0 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses.
Return on equity (ROE) is the profit the business earns on its shareholders’ money. We do not have the full capital split, so ROE is the longest history we can draw here.
It comes from a 40.2% net margin and 0.14× asset turnover (sales divided by assets).
Why the return is what it is (FY25): a 40.2% net margin × 0.14× asset turnover × 1.58× leverage (assets divided by equity) ≈ 8.9% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed.
The key test, return on capital used minus the cost of capital: 8.3% − 10.3% = −2.0 percentage points. The 10.3% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.
The 8.3% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at 14.7%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.
FY25: ROE 9%, the climb back from FY21's 6%
- ROE 9.1%
- ROIC (annual) 14.7%
- Cost of capital 10.3%
| Quarter | ROE | ROIC (annual) | Cost of capital |
|---|---|---|---|
| FY20 | 12.4% | – | 10.3% |
| FY21 | 5.9% | – | 10.3% |
| FY22 | 7% | 7% | 10.3% |
| FY23 | 8.1% | 6.7% | 10.3% |
| FY23 | 16.9% | 6.7% | 10.3% |
| FY24 | 28% | −0.8% | 10.3% |
| FY25 | 9.1% | 14.7% | 10.3% |
Jul 2025: ROE 37.3% (last 12 months)
- ROE (12 months) 37.3%
| Quarter | ROE (12 months) |
|---|---|
| Jan 2023 | 12.7% |
| Jul 2023 | 13.1% |
| Jan 2024 | 19.5% |
| Jun 2024 | 27.5% |
| Jul 2024 | 24.7% |
| Jan 2025 | 30.7% |
| Mar 2025 | 30.1% |
| Jun 2025 | 26.2% |
| Jul 2025 | 37.3% |
Does AMTD Digital have too much debt?
AMTD Digital Inc. has total debt of $261 M against shareholder equity of $604 M as of Oct 2025, so its debt is 0.43× its equity. Year by year, that ratio went from 0.00 in FY20 to 0.43 in FY25. Keep that borrowing in mind when reading the returns on this page.
Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.
FY25: debt $261 M, 0.43× equity
- Total debt $261 M
| Quarter | Total debt |
|---|---|
| FY20 | $0 |
| FY21 | $0 |
| FY23 | $98.9 M |
| FY23 | $98.8 M |
| FY24 | $258 M |
| FY25 | $187 M |
| FY25 | $261 M |
Debt-to-equity
- Debt-to-equity 0.43×
| Quarter | Debt-to-equity |
|---|---|
| FY20 | 0.00× |
| FY21 | 0.00× |
| FY23 | 0.19× |
| FY23 | 0.26× |
| FY24 | 1.62× |
| FY25 | 0.34× |
| FY25 | 0.43× |
Oct 2025: debt $261 M, debt-to-equity 0.43
- Total debt (quarterly) $261 M
| Quarter | Total debt (quarterly) |
|---|---|
| Apr 2023 | $98.9 M |
| Oct 2023 | $98.8 M |
| Oct 2024 | $258 M |
| Apr 2025 | $260 M |
| Oct 2025 | $261 M |
Debt-to-equity
- Debt-to-equity 0.43×
| Quarter | Debt-to-equity |
|---|---|
| Apr 2023 | 0.19× |
| Oct 2023 | 0.26× |
| Oct 2024 | 1.62× |
| Apr 2025 | 0.47× |
| Oct 2025 | 0.43× |
What is the AMTD Digital shareholding pattern?
We have no ownership or short-position figures for AMTD Digital Inc., so this section says so rather than fill the gap. At normal trading volumes, closing those positions would take about 3.5 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead.
There is no quarter-by-quarter list of owners here, so we look at short interest: the share of tradable shares held in short positions, which gain if the price falls.
How far is AMTD Digital from balance-sheet trouble?
For AMTD Digital Inc., the Z-score is 2.00. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is in the grey area between the two. It estimates how far the balance sheet is from trouble; it is not a forecast of failure.
The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.
Why it matters: a Z-score of 2.00 is in the grey area, neither clearly safe nor clearly in trouble.
How does AMTD Digital rank in its industry?
There is no score against its industry: AMTD Digital Inc. is not among the largest members shown in this industry comparison for Software - Application.
The score ranks a company within its industry: each measure is scored against the other members. Without that group there is no score, so none is shown.
Which companies is AMTD Digital compared with?
No sector comparison is shown here, not among the largest members shown in this industry comparison.
Which companies are close to AMTD Digital in size?
AMTD Digital is the 118th largest of 142 Software - Application companies on Sector Alpha by market value (scores of 4 November 2026). Just above it: Ooma, Inc., Yuanbao Inc. and Rimini Street, Inc. Just below it: Materialise NV, mF International and Cerence Inc.
Software - Application companies close in size
- Ooma, Inc. $525 million
- Yuanbao Inc. $523 million
- Rimini Street, Inc. $488 million
- AMTD Digital Inc. $468 million
- Materialise NV $424 million
- mF International Limited $400 million
- Cerence Inc. $396 million
All 142 Software - Application companies, largest first
Companies close in size in other industries
- NRC Health $511 million · Health Information Services
- Ethan Allen Interiors Inc. $511 million · Furnishings, Fixtures & Appliances
- AMTD Digital Inc. $506 million
- Satellogic Inc. $506 million · Aerospace & Defense
- CoinShares PLC $505 million · Capital Markets
What else do people ask about AMTD Digital?
What were AMTD Digital's latest quarterly results?
AMTD Digital Inc. reported revenue of $62.9 M and net profit of $27.6 M for the Oct 2025 quarter. Revenue rose 340.9% and profit rose 198.1% compared with a year earlier. The operating margin was 60.5%, 61.3 percentage points higher than a year earlier (as of 4 November 2026).
What is AMTD Digital's market cap?
AMTD Digital Inc.'s market capitalisation is $468 M at a stock price of $1.49. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026).
How is AMTD Digital performing?
AMTD Digital Inc.'s latest readings are below. In its latest quarter, revenue rose 340.9% and profit rose 198.1% compared with a year earlier. Over the past 13 weeks it has done worse than the S&P 500, for 1 week running.
This describes what the data did, not a rating (as of 4 November 2026).
Will AMTD Digital's stock price go up?
This page does not forecast AMTD Digital Inc.'s stock price. What it shows instead: the stock price is $1.49. Nobody can reliably say which way a price will move, and this site does not try (as of 4 November 2026).
Does AMTD Digital have too much debt?
AMTD Digital Inc. has a moderate amount of debt: its debt is 0.47× its equity. A year-by-year history of its borrowings is not in our data, so this uses the latest reading. Keep that borrowing in mind when reading the returns on this page (as of 4 November 2026).
Where is AMTD Digital in its business cycle?
AMTD Digital Inc.'s FY25 operating margin was 63.3%, against a 5-year range of −14.0% to 64.9%: the middle of its own range, neither a peak nor a low. The latest quarter was 60.5%.
Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026).
What could break the AMTD Digital story?
The main question: profits are rising, but only 38% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch.
On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026).
Is AMTD Digital a stock worth studying right now?
What the numbers show: AMTD Digital Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the cash starts to follow the profit.
Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026).
Where do these numbers come from?
Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.
Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.
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