MSW

Company Overview — What Does Ming Shing Group Holdings Ltd Do?

Our mission is to become the leading wet trades works services provider in Hong Kong. We strive to provide quality services that comply with our customers’ quality standards, requirements, and specifications. We are an exempted company incorporated under the laws of the Cayman Islands on August 2, 2022. As a holding company with no material operations of our own, we conduct our business through our wholly-owned Hong Kong Operating Subsidiaries, MS (HK) Engineering Limited, founded on March 27, 2019, and MS Engineering Co. Limited. MS (HK) Engineering Limited, founded on October 12, 2012. We mainly engage in wet trades works, such as plastering works, tile laying works, brick laying works, floor screeding works and marble works. We are an established wet trade works subcontractor with, according to the Frost & Sullivan, a market share of approximately 0.4% in 2021. Through the continued effort of our management, our total revenue increased from US$14,383,980 for the fiscal year ended March 31, 2022 to US$21,868,220 for the fiscal year ended March 31, 2023, and further to US$27,572,692 for the year ended March 31, 2024. MS (HK) Engineering Limited is a registered specialist trade contractor under the Registered Specialist Trade Contractors Scheme of the Construction Industry Council and undertakes both private and public sector projects, while MS Engineering Co., Limited mainly focuses on private sector projects. Our Company was incorporated in the Cayman Islands on August 2, 2022. Our registered office in the Cayman Islands is located at Ogier Global (Cayman) Limited, 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009. Our principal executive office is located at 8/F, Cheong Tai Industrial Building, 16 Tai Yau Street, San Po Kong, Kowloon, Hong Kong. Our agent for service of process in the United States is Cogency Global Inc., located at 122 East 42nd Street, 18th Floor, New York, NY. Ming Shing Group Holdings Ltd (MSW) is classified as a micro-cap stock in the Industrials sector, specifically within the Construction industry. The company is led by CEO Chi Ming Lam. With a market capitalization of $11M, MSW is one of the notable companies in the Industrials sector.

Ming Shing Group Holdings Ltd (MSW) Stock Rating — Avoid (April 2026)

As of April 2026, Ming Shing Group Holdings Ltd receives a Avoid rating with a composite score of 30.0/100 and 1 out of 5 stars from the Blank Capital Research quantitative model.MSW ranks #4,010 out of 4,446 stocks in our coverage universe. Within the Industrials sector, Ming Shing Group Holdings Ltd ranks #688 of 752 stocks, placing it in the lower half of its Industrials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

MSW Stock Price and 52-Week Range

Ming Shing Group Holdings Ltd (MSW) currently trades at $1.07. The stock lost $0.01 (0.9%) in the most recent trading session. The 52-week high for MSW is $8.11, which means the stock is currently trading -86.8% from its annual peak. The 52-week low is $0.60, putting the stock 78.3% above its annual trough. Recent trading volume was 7K shares, suggesting relatively thin trading activity.

Is MSW Overvalued or Undervalued? — Valuation Analysis

Ming Shing Group Holdings Ltd (MSW) carries a value factor score of 14/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 14.24x, versus the sector average of 2.23x. The price-to-sales ratio is 0.10x, compared to 0.50x for the average Industrials stock.

At current multiples, Ming Shing Group Holdings Ltd trades at a premium to most Industrials peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Ming Shing Group Holdings Ltd Profitability — ROE, Margins, and Quality Score

Ming Shing Group Holdings Ltd (MSW) earns a quality factor score of 23/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -2329.6%, compared to the Industrials sector average of 8.9%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -170.8% versus the sector average of 3.3%.

On a margin basis, Ming Shing Group Holdings Ltd reports gross margins of -3.9%, compared to 35.8% for the sector. The operating margin is -15.8% (sector: 6.2%). Net profit margin stands at -16.9%, versus 3.9% for the average Industrials stock. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

MSW Debt, Balance Sheet, and Financial Health

Ming Shing Group Holdings Ltd has a debt-to-equity ratio of 775.0%, compared to the Industrials sector average of 70.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. Total debt on the balance sheet is $8M. Cash and equivalents stand at $249,923.

MSW has a beta of 0.29, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for Ming Shing Group Holdings Ltd is 30/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Ming Shing Group Holdings Ltd Revenue and Earnings History — Quarterly Trend

In TTM 2026, Ming Shing Group Holdings Ltd reported revenue of $34M. Net income for the quarter was $-6M. Gross margin was -3.9%. Operating income came in at $-5M.

In FY 2025, Ming Shing Group Holdings Ltd reported revenue of $34M. Net income for the quarter was $-6M. Gross margin was -3.9%. Revenue grew 22.8% year-over-year compared to FY 2024. Operating income came in at $-5M.

In FY 2024, Ming Shing Group Holdings Ltd reported revenue of $28M and earnings per share (EPS) of $0.20. Net income for the quarter was $2M. Gross margin was 18.5%. Revenue grew 26.1% year-over-year compared to FY 2023. Operating income came in at $3M.

In FY 2023, Ming Shing Group Holdings Ltd reported revenue of $22M. Net income for the quarter was $3M. Gross margin was 16.0%. Operating income came in at $3M.

Over the past 4 quarters, Ming Shing Group Holdings Ltd has demonstrated a growth trajectory, with revenue expanding from $22M to $34M. Investors analyzing MSW stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

MSW Dividend Yield and Income Analysis

Ming Shing Group Holdings Ltd (MSW) does not currently pay a dividend. This is common among smaller companies in the Construction industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Industrials dividend stocks may want to explore other Industrials stocks or use the stock screener to filter by dividend yield.

MSW Momentum and Technical Analysis Profile

Ming Shing Group Holdings Ltd (MSW) has a momentum factor score of 25/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 50/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 68/100 reflects moderate short selling activity.

MSW vs Competitors — Industrials Sector Ranking and Peer Comparison

Within the Industrials sector, Ming Shing Group Holdings Ltd (MSW) ranks #688 out of 752 stocks based on the Blank Capital composite score. This places MSW in the lower half of all Industrials stocks in our coverage universe. Key competitors and sector peers include South Bow Corp (SOBO) with a score of 56.5/100, TSAKOS ENERGY NAVIGATION LTD (TEN) with a score of 61.4/100, Great Lakes Dredge & Dock CORP (GLDD) with a score of 56.7/100, Tri Pointe Homes, Inc. (TPH) with a score of 57.3/100, and Clear Channel Outdoor Holdings, Inc. (CCO) with a score of 52.2/100.

Comparing MSW against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full MSW vs S&P 500 (SPY) comparison to assess how Ming Shing Group Holdings Ltd stacks up against the broader market across all factor dimensions.

MSW Next Earnings Date

No upcoming earnings date has been announced for Ming Shing Group Holdings Ltd (MSW) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy MSW? — Investment Thesis Summary

The quantitative profile for Ming Shing Group Holdings Ltd suggests caution. The quality score of 23/100 flags below-average profitability. The value score of 14/100 indicates premium valuation. Momentum is weak at 25/100, a headwind for near-term performance. High volatility (stability score 30/100) increases portfolio risk.

In summary, Ming Shing Group Holdings Ltd (MSW) earns a Avoid rating with a composite score of 30.0/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on MSW stock.

Related Resources for MSW Investors

Explore more research and tools: MSW vs S&P 500 comparison, top Industrials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare MSW head-to-head with peers: MSW vs SOBO, MSW vs TEN, MSW vs GLDD.