Top Spring International Holdings (HKSE:03688) FCF Margin %: -77.81% (As of Dec. 2025)

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HKSE:03688 Top Spring International Holdings Ltd HKSE:03688
36 GF Score
Price HK$0.19
GF Value HK$0.36
Valuation Possible Value Trap
! 4 Warning Signs
View Full Analysis

What is Top Spring International Holdings FCF Margin %?

Top Spring International Holdings HKSE:03688 36 FCF Margin % is -77.81% as of Dec. 2025. GuruFocus rates HKSE:03688 with a GF Score™ of 36/100 and a GF Value™ of HK$0.36 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 1,756 Real Estate companies, Top Spring International Holdings ranks better than 51.03% on this metric.

FCF Margin % is calculated as Free Cash Flow divided by its Revenue. Top Spring International Holdings's Free Cash Flow for the six months ended in Dec. 2025 was HK$-484 Mil. Top Spring International Holdings's Revenue for the six months ended in Dec. 2025 was HK$622 Mil. Therefore, Top Spring International Holdings's FCF Margin % for the quarter that ended in Dec. 2025 was -77.81%.

As of today, Top Spring International Holdings's current FCF Yield % is 38.15%.

The historical rank and industry rank for Top Spring International Holdings's FCF Margin % or its related term are showing as below:

HKSE:03688' s FCF Margin % Range Over the Past 10 Years
Min: -520.9   Med: -17.57   Max: 39.34
Current: 7.57


During the past 13 years, the highest FCF Margin % of Top Spring International Holdings was 39.34%. The lowest was -520.90%. And the median was -17.57%.

HKSE:03688's FCF Margin % is ranked better than
51.03% of 1756 companies
in the Real Estate industry
Industry Median: 6.93 vs HKSE:03688: 7.57


Top Spring International Holdings FCF Margin % Related Terms


Top Spring International Holdings FCF Margin % Historical Data

* Premium members only.

The historical data trend for Top Spring International Holdings's FCF Margin % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Top Spring International Holdings FCF Margin % Chart

Top Spring International Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
FCF Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 33.26 6.56 36.59 39.34 7.57

Top Spring International Holdings Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
FCF Margin % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 89.35 43.21 38.35 79.65 -77.81

Top Spring International Holdings FCF Margin % Competitor Comparison

For the Real Estate - Development subindustry, Top Spring International Holdings's FCF Margin %, along with its competitors' market caps and FCF Margin % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Top Spring International Holdings FCF Margin % vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Top Spring International Holdings's FCF Margin % distribution charts can be found below:

* The bar in red indicates where Top Spring International Holdings's FCF Margin % falls into.


HKSE:03688
36GF Score
Top Spring International Holdings Ltd HKSE:03688
FCF Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Top Spring International Holdings FCF Margin % Calculation

FCF margin is the ratio of Free Cash Flow divided by net sales or Revenue, usually presented in percent.

Top Spring International Holdings's FCF Margin for the fiscal year that ended in Dec. 2025 is calculated as

FCF Margin=Free Cash Flow (A: Dec. 2025 )/Revenue (A: Dec. 2025 )
=102.935/1359.747
=7.57 %

Top Spring International Holdings's FCF Margin for the quarter that ended in Dec. 2025 is calculated as

FCF Margin=Free Cash Flow (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=-484.355/622.454
=-77.81 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about FCF Margin % →
What does a FCF Margin % of -77.81% mean?
Top Spring International Holdings (HKSE:03688) has a FCF Margin % of -77.81% as of Dec. 2025. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Top Spring International Holdings and its competitors. According to the industry distribution chart, Top Spring International Holdings ranks #860 out of 1756 companies in the Real Estate industry, placing it in the top 49%.
Is Top Spring International Holdings' FCF Margin % too high?
Top Spring International Holdings' current FCF Margin % is -77.81%. Based on the distribution chart, Top Spring International Holdings ranks #860 out of 1756 companies in the Real Estate industry, which is above the industry midpoint. Overall, Top Spring International Holdings has a GF Score™ of 36/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Top Spring International Holdings' FCF Margin % compare to competitors?
According to the Real Estate industry distribution chart, Top Spring International Holdings ranks #860 out of 1756 companies for FCF Margin %. This puts Top Spring International Holdings in the upper half of its industry. The industry median FCF Margin % is 6.93. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good FCF Margin % for a Real Estate company?
The median FCF Margin % among Real Estate companies is 6.93, based on 1,756 companies in the industry. Companies in the top quartile (top 25%) have a FCF Margin % significantly above this median, while those in the bottom quartile fall well below. However, FCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high FCF Margin % mean?
A high FCF Margin % can signal that a stock is expensive relative to its fundamentals. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Top Spring International Holdings and its competitors. For the Real Estate industry, the median FCF Margin % is 6.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Top Spring International Holdings's current FCF Margin % is -77.81%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Top Spring International Holdings stock overvalued right now?
Based on GuruFocus' analysis, Top Spring International Holdings (HKSE:03688) is currently considered Possible Value Trap. The stock's GF Value™ is HK$0.36, compared to a current price of HK$0.19 — trading 46.9% below its estimated fair value. The current FCF Margin % is -77.81%. Top Spring International Holdings' overall GF Score™ is 36/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is FCF Margin % calculated?
FCF Margin % is calculated from a company's financial statements. For Top Spring International Holdings (HKSE:03688), the current FCF Margin % is -77.81% as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Top Spring International Holdings (HKSE:03688) Overvalued in 2026?

Based on GuruFocus' analysis, Top Spring International Holdings stock appears to be undervalued. The current stock price of HK$0.19 is trading 46.9% below its estimated GF Value™ of HK$0.36. GuruFocus considers Top Spring International Holdings to be Possible Value Trap.

Key valuation signals for HKSE:03688:

  • FCF Margin %: -77.81%
  • GF Value™: HK$0.36 vs. price of HK$0.19 (46.9% below fair value)
  • GF Score™: 36/100 with 4 warning signs

No single metric tells the full story. See the HKSE:03688 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Top Spring International Holdings Business Description

Address 6-8 Harbour Road, Rooms 04-08, 26th Floor, Shui On Centre, Wanchai, Hong Kong, HKG
Top Spring International Holdings Ltd is an investment holding engaged in property development, property investment, property management and related services, and education-related services in the People's Republic of China. It generates the majority of its revenue from the Property development segment which develops and sells residential and commercial properties. Geographically the company has a presence in PRC, Hong Kong, and others, with key revenue coming from PRC.
36GF Score

Get the complete analysis for HKSE:03688

FCF Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$0.19
Price
HK$0.36
GF Value