Company Analysis

AMTD Digital Inc. (HKD)

NYSE: HKD · Finance Services · Paris, FR · filing with the SEC since 2021
Grade6.4
◀ Past 6.4● Present 6.3▶ Future 6.6
1 est.

The grade of AMTD Digital Inc.

Nine metrics read from its own filings, by tense
Headline grade
6.4/10
◀ Past6.440% of the headline
● Present6.335% of the headline
▶ Future6.625% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.4/1040% of the headline grade · 3 of 3 filed

Surviving crises

as filed
8.4/10

Has it survived what it has been through?

No warning events in its filings since 2021.

weight 45% of this tense · 84th percentile among 130 sector filers · read for itself

From the record

AMTD Digital Inc.'s filings since 2021 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
6.0/10

What has it actually done, year after year?

+39.7% a year over 5 filed years; profitable in 4 of 5.

weight 22% of this tense · 60th percentile among 104 sector filers · read for its customers

From the record

AMTD Digital Inc.'s 5 filed years say what it did: revenue went from $42 million in fiscal 2022 to $136 million in fiscal 2025, up 39.7% a year; it rose in 3 of 4 years; the deepest fall was 75% from fiscal 2023 to fiscal 2023; net income was positive in 4 of 5 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span39.7%top 32% of its family
  • the share of years revenue rosetop 37% of its family
  • the share of filed years with a profittop 16% of its family
  • the deepest fall from a revenue peak75.2%bottom 27% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
3.8/10

How has it treated the people who own it?

Share count grew 15.7% a year. 0% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 33% of this tense · 38th percentile among 53 sector filers · read for its shareholders

From the record

Over the 4 fiscal years to 2025-10-31, AMTD Digital Inc.'s diluted share count grew about 15.7% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

  • the share count over the yearstop 46% of its family
  • cash returned against operating cash flowbottom 22% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

6.3/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
5.9/10

Is it financially healthy right now?

ROE 9%: 9¢ of profit per shareholder dollar. Leverage 37%: owes 37¢ per asset dollar.

weight 45% of this tense · 59th percentile among 117 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-10-31, AMTD Digital Inc. earned about 9 cents of profit for every dollar of shareholders' money. Leverage: it owed about 37 cents per dollar of assets, and net share issuance: its share count grew 61.1% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 42% of its family
  • return on equitytop 18% of its family
  • the share count against the year beforebottom 37% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
7.4/10

How strong is its position in its industry?

top 26% of 114 in its family; net margin 40.2%.

weight 33% of this tense · 74th percentile among 114 sector filers · read for its customers

From the record

AMTD Digital Inc.'s standing among 114 graded names in its industry family: revenue of $136 million in fiscal 2025 ranks in the top 44% by size; a net margin of 40.2% ranks in the top 9%; revenue growth of 51% a year over the last 3 filed years ranks in the top 23% (its annual reports).

What it rests on

  • revenue against the family$136Mtop 44% of its family
  • net margin40.2%top 9% of its family
  • three-year revenue growth51.0%top 23% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
5.5/10

What are the people in charge doing?

SI estimate 5.5/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 74 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 74 members with one.
What the record cannot read
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
family median, 74 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: AMTD Digital Inc.'s leadership is put at 5.5 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 74 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

6.6/1025% of the headline grade · 3 of 3 filed

Room to expand

as filed
4.4/10

How much room does it have to grow?

bottom 44% of 108 in its family for room to expand.

weight 33% of this tense · 44th percentile among 108 sector filers · read for itself

From the record

AMTD Digital Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $46 million against debt of $177 million leaves -13.7% of its assets as net cash, bottom 10% of its family; cash from operations less capital spending is 10.5% of revenue (top 22%) (its annual report).

What it rests on

  • cash less debt against assets-13.7%bottom 10% of its family
  • cash from operations less capital spending against revenue10.5%top 22% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
8.4/10

What could actually drive growth from here?

top 16% of 100 in its family for growth drivers.

weight 33% of this tense · 84th percentile among 100 sector filers · read for its customers

From the record

AMTD Digital Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 51% a year over the last three filed years against 39.7% over all 5, speeding up (top 16% of its family); the newest year grew 566.5% (top 6%); capital spending grew 92.9% a year (top 25%) (its annual reports). AMTD Digital Inc. reported 4 lines of business in fiscal 2025: Strategic Investment at $86 million (63%), Hotel Operations Hospitality and VIP Services at $28 million (21%), Media and Entertainment Services at $19 million (14%), and 1 more; 2 of 3 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span+11.4 points a yeartop 16% of its family
  • the newest year's revenue growth566.5%top 6% of its family
  • three-year growth of capital spending92.9%top 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
7.1/10

Did its newest year beat what its own record pointed to?

top 29% of 78 in its family for expectations against reality.

weight 33% of this tense · 71st percentile among 78 sector filers · read for its shareholders

From the record

AMTD Digital Inc.'s newest year against its own record: revenue of $136 million in fiscal 2025 came in 1080.6% above the $12 million its prior three years' pace pointed to (top 3% of its family); net income of $55 million against a prior three-year average of $28 million (top 17%); a net margin of 40.2% against 94% before (bottom 33%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace1080.6%top 3% of its family
  • net income against the prior three years' average+96%top 17% of its family
  • net margin against its prior average-53.8 pointsbottom 33% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton HKD · research, not advice