mF International Ltd

MFI

mF International Limited provides financial trading solutions through the internet or software-as-a-service platforms in Hong Kong, Mainland China, and Southeast Asia.

About the company

mF International Limited provides financial trading solutions through the internet or software-as-a-service platforms in Hong Kong, Mainland China, and Southeast Asia.

Country: Hong KongPrice: $7.59Market Cap: $380.6M

Investment snapshot

6%positive consensus

Scored 1d ago

Positive

BUY / PASS

Neutral / negative

2 / 13

NEUTRAL / FAIL

Median fair value

$0.22

-97.1% vs price

Models with upside

1 / 17

Positive margin of safety

Strongest signal

10 of 12 pass — Buffett and Marks object

Key risk

No clean pass — all 13 investors flag at least one valuation criterion

Framework analysis

Verdict	Meaning
BUY	Positive purchase signal: the framework's buy requirements are met.
PASS	The company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state.
NEUTRAL	Neither a positive nor negative conclusion. It does not mean to hold an existing position.
FAIL	The company does not clear the framework's requirements.
Ranked	Ranked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL.

Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.

Metric	Graham Defensive Value	Buffett Quality Compounder	Lynch GARP	Greenblatt Magic Formula	Piotroski F-Score	Dreman Contrarian Value	Munger Quality Focus	Pabrai Dhandho Framework	Akre Three-Legged Stool	Marks Risk-Aware Value	Ackman Activist Value	Templeton Global Bargain Hunter	Sleep Scale Economies Shared	Asness Systematic Factors	Neff Low-P/E Total Return	Schloss Asset-Value Discipline	O'Shaughnessy Systematic Factor Composite
Verdict	FAIL	FAIL	FAIL	FAIL · Rank #1897 (Top 61.3%)	PASS	FAIL	FAIL	FAIL	FAIL	FAIL	FAIL	FAIL	FAIL	FAIL	FAIL	NEUTRAL	NEUTRAL
Score
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Intrinsic Value (annual)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A			N/A		N/A	N/A	N/A	N/A	N/A
Margin of Safety	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	+93.3%	-3347.7%	N/A	-3347.7%	N/A	N/A	N/A	N/A	N/A
Financial Basis	Annual history · FY 2025 Latest source filing: 2026-06-29 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-06-29 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-06-29 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-06-29 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-06-29 Score computed: 2026-11-14	Annual history · FY 2025 · Market data at 2026-11-01 Latest source filing: 2026-06-29 Score computed: 2026-11-14	Qualitative assessment · Annual history · FY 2025 Latest source filing: 2026-06-29 Score computed: 2026-11-14	Qualitative assessment · Annual history · FY 2025 Latest source filing: 2026-06-29 Score computed: 2026-11-14	Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-06-29 Score computed: 2026-11-14	Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-06-29 Score computed: 2026-11-14	Annual history · FY 2025 · Market data at 2026-11-01 Latest source filing: 2026-06-29 Score computed: 2026-11-14	Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 Latest source filing: 2026-06-29 Score computed: 2026-11-14	Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-06-29 Score computed: 2026-11-14	Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 Latest source filing: 2026-06-29 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-06-29 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-06-29 Score computed: 2026-11-14	Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 Latest source filing: 2026-06-29 Score computed: 2026-11-14

Where It Passes

Debt & Leverage83% pass✓ 13✗ 2▾
10 of 12 pass — Buffett and Marks object
LT Debt vs Net Current AssetsLT Debt $0.0M vs NCA $515.3M
✓GrahamLT Debt <= Net Current Assets
Debt/Equity & Interest CoverageD/E: 0.00, IC: -307.9x
✗BuffettD/E < 0.5 AND Interest Coverage > 5x
Total Debt / Equity0
✓Lynch< 0.33
Cash - Long-term Debt$28.7M
✓LynchPositive preferred
LT Debt / Total Assets Change3.51% -> 0.00%
✓PiotroskiDecreased YoY
Current Assets / Current Liabilities164.32
✓Dreman> 1.5✓SchlossCurrent ratio >= 1.50x (app cutoff)
Total Debt / Shareholders' Equity0
✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00x
Debt Levels0
✓MungerDebt/Equity < 0.5✓AkreDebt/Equity < 0.3
Interest Coverage & Debt/EBITDAIC=-307.9x, D/EBITDA=N/A (D&A unavailable)
✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
Total Debt / Shareholders Equity0
✓Ackman<= 1.0
Negative debt-to-equity (higher means less debt)-0.0004; #315/4210 (top 7.5%)
✓AsnessTop 30% of eligible cross-section

Where It Falls Short

Valuation0% pass✓ 7✗ 21▾
No clean pass — all 13 investors flag at least one valuation criterion
Price / 3-yr avg EPS
✗Graham<= 15x
Price-to-Book Ratio0.7x
✓Graham<= 1.5x
P/E x P/B
✗Graham<= 22.5
Basic earnings-growth PEG (dividends excluded)
✗Lynch< 1.0 (ideally < 0.5)
EBIT / Enterprise Value-1.8%
✗Greenblatt> 10%
Earnings Yield + ROC AssessmentEY=-1.8%, ROC=-1.3%
✗GreenblattBoth EY > 10% and ROC > 25%
Price / EPS
✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
Price / (CFO / Shares)N/A (negative CFPS)
✗Dreman< 8x
Price / Book Value per Share0.7x
✓Dreman< 1.2x✓Templeton< 1.5x✓SchlossP/B <= 0.80x (app cutoff)
Valuation Reasonableness
✗MungerP/E < 25 or Owner Earnings Yield > 5%
P/E or FCF YieldFCF Yield=-0.5%
✗PabraiP/E < 15 or FCF Yield > 10%
P/B or P/E vs. Historical AverageP/B=0.7x
✓MarksP/E < 15 or P/B < 2.0
Discount to Intrinsic ValueN/A (negative normalized EPS)
✗Marks>= 20% below intrinsic value
Price / FCF per ShareN/A (negative FCF)
✗Ackman<= 25
Price vs. Trailing Low158% of trailing low ($4.80)
✗Templeton<= 120% of trailing low (certified split-adjusted live window)
Net income / market capitalization+2.66%; #2497/6340 (top 39.4%)
✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
Positive book equity / market capitalization+1.3550; #1040/6449 (top 16.1%)
✓AsnessTop 30% of eligible cross-section
Price / Diluted EPS
✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)
(EPS CAGR % + Dividend Yield %) / P/E
✗Neff> 0.7 (Neff's published traditional edge)
Price / Tangible Book Value per Share0.72x
✓SchlossP/TBV <= 1.00x (app cutoff)
Book Value per Share Change
✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
Revenue / market capitalization+0.0114; #4835/5247 (top 92.1%)
✗OshaughnessyTop 10% of eligible cross-section
(Operating cash flow - capex) / market capitalization-0.54%; #2613/4519 (top 57.8%)
✗OshaughnessyTop 10% of eligible cross-section
Trailing six-month price return through the evaluation date-46.77%; #5051/6202 (top 81.4%)
✗OshaughnessyTop 10% of eligible cross-section
Growth0% pass✓ 1✗ 12▾
No clean pass — all 8 investors flag at least one growth criterion
EPS Growth (3-yr avg, 10-yr window)-169.3%
✗Graham>= 33% growth
Basic earnings-growth PEG (dividends excluded)
✗Lynch< 1.0 (ideally < 0.5)
3-5 Year EPS CAGR
✗Lynch15-30% (Fast Grower); > 0% to pass
Inventory Growth vs Revenue GrowthN/A (no inventory)
✓LynchInventory growth < Revenue growth
EPS Growth Direction$0.11 (2021) -> $-0.20 (2024)
✗DremanPositive over recent years
EPS CAGR-20.2% CAGR over 2 years
✗Dreman> 5% annualized
Positive Net Income Frequency4/5 years positive
✗MarksPositive net income in >= 7 of last 10 years
3yr Median Revenue Growth-9.0%
✗Ackman>= 5%
Positive EPS Growth Frequency0/3 years with positive EPS growth
✗AckmanPositive EPS growth in >= 3 of last 5 years
5-Year EPS CAGR
✗Templeton> 0% (5-year EPS CAGR)
Revenue growth vs. gross and operating margin trendgross margin 56.2% -> 29.6%, operating margin 20.9% -> -143.7%
✗SleepRevenue rising; gross margin flat or falling; operating margin holding
5-year Revenue CAGR
✗SleepCAGR > 7%
3-5 Year Diluted EPS CAGR
✗Neff7%-20% annualized
Profitability6% pass✓ 5✗ 30▾
15 of 16 flag MFI's profitability — Graham, Buffett, Lynch +12 more
Positive EPS (10 years)3/6 years positive
✗GrahamPositive EPS every year for 10 years
EPS Growth (3-yr avg, 10-yr window)-169.3%
✗Graham>= 33% growth
Net Income Positive (10+ years)4/6 years positive
✗BuffettPositive every year for 10+ years
ROE (up to 5-year arithmetic mean)41.2%
✓Buffett> 15% arithmetic mean (app rule)
Operating Margin (10-yr trend)-143.7% (latest)
✗BuffettStable or rising over 10 years
Free Cash Flow Proxy
✗BuffettPositive and growing
Earnings Variance (10-yr CoV)
✗BuffettCoV < 0.3
Retained Earnings Effectiveness
✗Buffett$1 retained -> > $1 market value created
Basic earnings-growth PEG (dividends excluded)
✗Lynch< 1.0 (ideally < 0.5)
3-5 Year EPS CAGR
✗Lynch15-30% (Fast Grower); > 0% to pass
ROE2.0%
✗Lynch> 15%
EBIT / Enterprise Value-1.8%
✗Greenblatt> 10%
Earnings Yield + ROC AssessmentEY=-1.8%, ROC=-1.3%
✗GreenblattBoth EY > 10% and ROC > 25%
Net Income / Total Assets1.95%
✓PiotroskiROA > 0
ROA Change YoY-34.66% -> 1.95% (delta: +36.61%)
✓PiotroskiCurrent ROA > Prior ROA
(CFO / Total Assets) vs ROACFO/Assets=-0.39%, ROA=1.95%
✗PiotroskiCFO/Assets > ROA
Gross Margin Change YoY47.2% -> 29.6%
✗PiotroskiImproved YoY
Pre-Tax Income / Revenue223.8%
✓Dreman>= 8%
Net Income / Shareholders' Equity2.0%
✗Dreman> 12%
Margin of SafetyP/B=0.7x
✓PabraiP/B < 1.5 or P/E < 15
Return on Equity0.7% (3-yr avg)
✗AkreROE > 20% (3-year avg)
Discount to Intrinsic ValueN/A (negative normalized EPS)
✗Marks>= 20% below intrinsic value
Positive Net Income Frequency4/5 years positive
✗MarksPositive net income in >= 7 of last 10 years
Operating Income / Revenue-143.7%
✗Ackman>= 15%
Net Income / Shareholders Equity2.0%
✗Ackman>= 15%
5-Year EPS CAGR
✗Templeton> 0% (5-year EPS CAGR)
Operating Margin Trend20.9% (2023) -> -143.7% (2025)
✗TempletonNon-negative operating-margin trend over 3 years
Revenue growth vs. gross and operating margin trendgross margin 56.2% -> 29.6%, operating margin 20.9% -> -143.7%
✗SleepRevenue rising; gross margin flat or falling; operating margin holding
Net income / market capitalization+2.66%; #2497/6340 (top 39.4%)
✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
Gross profit / total assets+0.25%; #3428/3702 (top 92.6%)
✗AsnessTop 30% of eligible cross-section
Net income / positive book equity+1.96%; #2766/5226 (top 52.9%)
✗AsnessTop 30% of eligible cross-section
Negative 5-year standard deviation of ROA-0.2218; #4328/5884 (top 73.6%)
✗AsnessTop 30% of eligible cross-section
3-5 Year Diluted EPS CAGR
✗Neff7%-20% annualized
Positive Diluted-EPS Years
✗Schloss>= 70% positive over 5-10 observed years (app rule)
Verdicts7% pass✓ 1✗ 14▾
Split decision: 13 FAIL · 2 NEUTRAL · 1 PASS
Overall verdict
✗GrahamFAIL (3/9)✗BuffettFAIL (1/9)✗LynchFAIL (3/7)✗GreenblattRank #1897✓PiotroskiPASS (F-Score 4)✗DremanFAIL (4/11)✗MungerFAIL (1/4)✗PabraiFAIL (1/3)✗AkreFAIL (2/6)✗MarksFAIL (2/5)✗AckmanFAIL (2/9)✗TempletonFAIL (3/8)✗SleepFAIL (1/6)✗AsnessFAIL (Rank #1691/2370 (Top 71.4%))✗NeffFAIL (1/6)•SchlossNEUTRAL (4/7)•OshaughnessyNEUTRAL (Not ranked)
Cash Flow10% pass✓ 1✗ 11▾
9 of 10 flag MFI's cash flow — Buffett, Lynch, Piotroski +6 more
Free Cash Flow Proxy
✗BuffettPositive and growing
FCF Positive and Growing$-2.1M
✗LynchPositive and growing
Operating Cash Flow$-2.0M
✗PiotroskiCFO > 0
(CFO / Total Assets) vs ROACFO/Assets=-0.39%, ROA=1.95%
✗PiotroskiCFO/Assets > ROA
Price / (CFO / Shares)N/A (negative CFPS)
✗Dreman< 8x
P/E or FCF YieldFCF Yield=-0.5%
✗PabraiP/E < 15 or FCF Yield > 10%
FCF Positive3/5 years FCF positive
✓MarksPositive FCF in majority of recent years
(OCF - CapEx) / Market Cap-0.6%
✗Ackman>= 4%
Price / FCF per ShareN/A (negative FCF)
✗Ackman<= 25
Positive Operating Cash Flow frequency3/5 years positive
✗SleepPositive OCF in >= 70% of available years
Operating Cash Flow - Capital Expenditures$-2.1M
✗Neff> $0 (app proxy for a strong fundamental case)
(Operating cash flow - capex) / market capitalization-0.54%; #2613/4519 (top 57.8%)
✗OshaughnessyTop 10% of eligible cross-section
Efficiency25% pass✓ 3✗ 8▾
6 of 8 flag MFI's efficiency — Buffett, Greenblatt, Piotroski +3 more
Current Ratio164.32
✓Graham>= 2.0
ROIC (3-5 yr avg)3.9%
✗Buffett> 10%
ROIC - WACC-6.1%
✗BuffettPositive (WACC = 10%)
EBIT / (NWC + Net Fixed Assets)-1.3%
✗Greenblatt> 25%
Current Ratio Change YoY2.00 -> 164.32
✓PiotroskiIncreased YoY
Revenue / Total Assets Change YoY0.45x -> 0.01x
✗PiotroskiImproved YoY
Current Assets / Current Liabilities164.32
✓Dreman> 1.5
Return on Invested Capital-1.0%
✗Munger> 15%
ROIC (high and growing)FY2023: ROIC=24.4%; FY2024: ROIC=-36.5%; FY2025: ROIC=-1.0%
✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
Reinvestment Rate x ROIC-1.0% (RR=100% x ROIC=-1.0%)
✗AkreReinvestment Rate * ROIC > 10%
ROIC (5-year)2/4 years above 12% (latest -1.0%)
✗SleepROIC > 12% in a majority of years
Valuation models33% pass✓ 1✗ 2▾
Models split on MFI at $7.59 — fair values range $0.22–$113.26
Akre fair value$113.26
✓Akre+93.3% margin vs $7.59
Marks fair value$0.22
✗Marks-3347.7% margin vs $7.59
Templeton fair value$0.22
✗Templeton-3347.7% margin vs $7.59

Business & financials

Financial snapshot: annual FY 2025. Current investor scores may use newer quarterly data.

Company Profile

Industry: Business Services

Size: Small Cap($380.6M)

Revenue: $4.3M+29.4% YoY

Net Income: $10.1M+488.8% YoY

Financial Snapshot

Operating Margin-143.7%

Return on Equity2.0%

Debt / Equity0.00

Current Ratio164.32

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Shareholder Return

Fiscal 2025

Share retirement not available for this company.

Buybacks: —
Dividends: $0

What drove EPS

A buyback raises earnings per share without the company earning more. This splits each year's change into the two.

FY22

−34.0% = −34.1% + 0.1%

FY23

−3.4% = −3.3% + −0.1%

Earnings Fewer shares More shares

Share count is the denominator the filer used for diluted EPS, recovered as net income ÷ EPS — not the balance-sheet count, which is a point-in-time figure and would put the timing difference into this split. Years with a loss are omitted: a smaller share count makes a loss per share larger, so the decomposition inverts.

Company Financials

Latest TTM and quarters alongside annual years

TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.

Metric	FY 2025 Sources 20-F · 2026-06-29	FY 2024 Sources 20-F · 2025-04-23	FY 2023 Sources 20-F · 2024-05-15	FY 2022 Sources 20-F · 2024-05-15	FY 2021 Sources 20-F · 2024-05-15
Market Cap	$380.6Mcurrent	$76.3Mest.	$149.2Mest.	--	--
Revenue	$4.3M↑29%	$3.4M↓18%	$4.1M↓9%	$4.5M↑8%	$4.1M
Operating Income	-$6.2M↓150%	-$2.5M↓393%	$853.0K↓12%	$967.7K↓28%	$1.4M
Net Income	$10.1M↑489%	-$2.6M↓408%	$846.1K↓3%	$874.8K↓34%	$1.3M
EPS (Diluted)	--	$-0.20↓381%	$0.07↓3%	$0.08↓34%	$0.11
Gross Margin	29.6%↓37%	47.2%↓16%	56.2%↑7%	52.7%↑6%	49.5%
Operating Margin	-143.7%↓93%	-74.3%↓455%	20.9%↓3%	21.6%↓34%	32.7%
ROE	2.0%↑103%	-56.3%↓200%	56.4%↓14%	65.4%↓53%	138.3%
Total Debt	$185.7K↓76%	$780.5K↓38%	$1.3M↓27%	$1.7M	--
Shareholders' Equity	$515.7M↑11048%	$4.6M↑209%	$1.5M↑12%	$1.3M↑39%	$959.6K
Current Ratio	164.32↑8135%	2.00↑141%	0.83↓36%	1.30	—
Debt / Equity	0.00↓100%	0.17↓80%	0.85↓35%	1.31	—
Operating Cash Flow	-$2.0M↑28%	-$2.8M↓295%	$1.4M↓17%	$1.7M↑6%	$1.6M
Free Cash Flow	-$2.1M↑28%	-$2.9M↓300%	$1.4M↓17%	$1.7M↑8%	$1.6M

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Business Services

MFI vs Peers — Financial Grading

Revenue$4.3MBottom 25%

Net Income$10.1MMedian

ROE2.0%Bottom 25%

D/E0.00Top 25%

Op. Margin-143.7%Bottom 25%

Curr. Ratio164.32Top 25%

Company	Market Cap	Price	Revenue	Net Income	ROE	D/E	Op. Margin	Curr. Ratio	Graham	Buffett	Lynch	Greenblatt	Piotroski	Dreman
AUTOMATIC DATA PROCESSING INCADP	$122.3B	$309.93	$21.9B	$4.4B	73.2%	0.82	24.2%	1.05	4/9	5/9	3/7	0/3	F-Score 6	5/11
ELECTRONIC ARTS INC.EA	$52.9B	$209.70	$7.5B	$887.0M	13.1%	0.22	15.4%	1.05	1/9	4/9	4/7	0/3	F-Score 6	6/11
Rubrik, Inc.RBRK	$22.6B	$109.88	$1.3B	$348.8M	67.1%	—	-26.2%	1.69	1/9	0/9	2/7	0/3	F-Score 6	2/11
AECOMACM	$9.1B	$70.50	$16.1B	$561.8M	22.5%	1.09	6.4%	1.14	1/9	3/9	3/7	1/3	F-Score 8	2/11
COMMVAULT SYSTEMS INCCVLT	$6.2B	$152.07	$1.2B	$70.7M	942.8%	—	6.3%	1.95	1/9	2/9	4/7	0/3	F-Score 6	6/11
WPP plcWPP	$6.0B	$27.79	$18.2B	$289.5M	-8.5%	1.94	2.8%	0.89	1/9	2/9	1/7	0/3	F-Score 3	2/11
VARONIS SYSTEMS INCVRNS	$5.6B	$48.94	$623.5M	$129.3M	-21.6%	0.76	-23.5%	1.97	1/9	0/9	1/7	0/3	F-Score 5	1/11
ROBERT HALF INC.RHI	$4.3B	$42.00	$5.4B	$133.0M	10.4%	—	1.4%	1.53	2/9	5/9	1/7	0/3	F-Score 5	2/11