olivLaw · US equity research
Bluemount Holdings Limited BMHL
Finance Services · SIC 6199 · Vertical: Finance Services (SIC 6199)
Bluemount Holdings Ltd is a Hong Kong-based group providing consulting, advisory and financial services and trading luxury timepieces. In fiscal 2026 timepiece trading became the main revenue source, and the company has been listed on Nasdaq since late July 2025.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 03 Nov 2026, Bluemount Holdings Limited (BMHL) stock was 3.16 USD (−1.25% on the day), with market capitalisation 79.0 m USD, P/E 61,098.2, beta 0.43, 52-week range 3.07–6.16 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 31.7
- weak (30–45)
- Bollinger (20, 2)
- 2.93 – 3.97
- in the lower half of the band · %B 0.23 · band width 30.2%
- SMA 50 / 200
- 4.66 / 4.36
- mixed trend
- MACD (12, 26, 9)
- -0.40 / -0.45
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −29.7% | −1.1% | −28.6 pp | — |
| 3 months | −43.5% | −0.5% | −43.0 pp | — |
| 6 months | −10.4% | +4.4% | −14.8 pp | — |
| Year to date | −5.1% | +12.3% | −17.4 pp | — |
| 1 year | −7.6% | +13.5% | −21.1 pp | −48.5% |
| 3 years | unavailable | +76.4% | unavailable | −74.4% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2025 |
|---|---|
| Revenue | 6.9 k |
| Revenue YoY | unavailable |
| Net income | 1.3 k |
| Net income YoY | unavailable |
| Diluted EPS | unavailable |
| Diluted EPS YoY | unavailable |
| net % | 18.8% |
| Free cash flow | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Mar 2025
- Cash
- 780 USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 4.9 k USD
- Total assets
- 14.4 k USD
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- unavailable
- ROA
- 9.0%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Income statement · USD
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | — | — | 6.9 k | SEC (XBRL)· 19 Aug 2025verified |
| Cost of revenue | 7.3 m | 12.5 m | 31.9 m | SEC (XBRL)· 19 Aug 2025verified |
| Gross profit | — | — | 2.6 k | SEC (XBRL)· 19 Aug 2025verified |
| Interest expense | — | — | 36 | SEC (XBRL)· 19 Aug 2025verified |
| Pre-tax income | — | — | 1.7 k | SEC (XBRL)· 19 Aug 2025verified |
| Income tax | — | — | 411 | SEC (XBRL)· 19 Aug 2025verified |
| Net income | — | — | 1.3 k | SEC (XBRL)· 19 Aug 2025verified |
Balance sheet · USD
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | — | 548 | 780 | SEC (XBRL)· 19 Aug 2025verified |
| Inventories | — | — | 4.4 k | SEC (XBRL)· 19 Aug 2025verified |
| Current assets | — | — | 14.2 k | SEC (XBRL)· 19 Aug 2025verified |
| Property, plant & equipment, net | — | 764 | — | SEC (XBRL)· 19 Aug 2025verified |
| Total assets | — | — | 14.4 k | SEC (XBRL)· 19 Aug 2025verified |
| Accounts payable | — | — | 395 | SEC (XBRL)· 19 Aug 2025verified |
| Total liabilities | — | — | 9.5 k | SEC (XBRL)· 19 Aug 2025verified |
| Equity | — | — | 4.9 k | SEC (XBRL)· 19 Aug 2025verified |
| Shares outstanding at year end | — | — | 25.0 m | SEC (XBRL)· 19 Aug 2025verified |
Cash flow · USD
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | — | — | 1.3 k | SEC (XBRL)· 19 Aug 2025verified |
| Financing cash flow | — | — | -1.1 k | SEC (XBRL)· 19 Aug 2025verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 2 of at least 6
- score weight coverage: 16.7% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 79.0 m USD
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
17% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.00 – 0.00 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E0.00 – 0.00 (Mid 0.00)9 companies used · median multiple 9.9x · quartiles 7.0x – 23.2xABTC, ATCH, AXP, CPSS, DEFT, JFU, PURR, RHLD, SOFI
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 2 of at least 6; score weight coverage: 16.7% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 18.8% | 83 (vs peers) | 38% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 61,098.2x | 0 (vs peers) | 63% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial83/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
BLUEMOUNT HOLDINGS LIMITED (BMHL). Latest full fiscal year: 2025; data up to 2025-03-31.
Figures computed from the financial statements: revenue 6.9 k USD in 2025; net margin 18.8%; ROE 26.2%.
The estimated value range is 0.00–0.00 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 0.00 USD, the price of 3.16 USD leaves a potential of -100.0% (value / price − 1) and a margin of safety of -614,245.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 2 of at least 6; score weight coverage: 16.7% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 18.8%
What contradicts it
- P/E (TTM): 61,098.2x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, Current ratio, EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Finance Services (SIC 6199) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AXPAmerican Express Co | 223.0 bn | 18.7 | 35.9% | 27.9% | +6.4% | −9% / +95% |
| COINCoinbase Global, Inc. | 40.1 bn | — | -4.7% | -12.5% | +9.4% | −44% / +21% |
| SOFISoFi Technologies, Inc. | 22.4 bn | 36.3 | 7.1% | 104.3% | +23.1% | −42% / +138% |
| IRENIREN Limited | 7.8 bn | — | -23.4% | -99.4% | +41.1% | −55% / +340% |
| HUTHut 8 Corp. | 5.9 bn | — | -34.5% | -169.8% | +44.8% | +9% / +415% |
| BLSHBullish | 3.5 bn | — | -27.3% | -0.3% | −2.2% | −47% / unavailable |
| PURRHyperliquid Strategies Inc | 1.9 bn | 3.0 | 32.6% | 3,229.8% | unavailable | unavailable / unavailable |
| CLSKCleanSpark, Inc. | 1.7 bn | — | -68.6% | -130.2% | +102.2% | −55% / +9% |
| WLTHWealthfront Corporation | 1.7 bn | — | -20.5% | -19.4% | +18.2% | unavailable / unavailable |
| BTDRBitdeer Technologies Group | 1.5 bn | — | -196.7% | -171.3% | −5.1% | −51% / +45% |
| RHLDResolute Holdings Management, Inc. | 1.0 bn | 24.1 | — | 4.2% | +9.9% | −26% / unavailable |
| AMBRAmber International Holding Limited | 865.0 m | — | -116.1% | -88.7% | −9.0% | −27% / −51% |
| CDChaince Digital Holdings Inc. | 741.4 m | — | -12.3% | -182.5% | +277.9% | −30% / +622% |
| TRONTron Inc. | 664.1 m | 96.8 | 3.8% | 135.6% | +10.0% | −24% / −48% |
| JFU9F Inc. | 536.7 m | 23.2 | 4.7% | 125.2% | +12.2% | −52% / −43% |
| ABTCAmerican Bitcoin Corp. | 516.7 m | 7.5 | -10.5% | -26.7% | +158.8% | −90% / −99% |
| ORBSEightco Holdings Inc. | 340.9 m | — | -157.0% | -1,260.9% | −16.8% | −70% / −74% |
| CHADDefi Development Corp. | 310.0 m | — | -589.3% | -1,319.5% | +442.3% | unavailable / unavailable |
| CPSSConsumer Portfolio Services, Inc. | 221.6 m | 9.9 | 7.5% | 5.0% | +10.4% | +23% / +7% |
| DGXXDigi Power X Inc. | 217.0 m | — | -24.7% | -114.8% | −7.6% | −48% / +50% |
| TONXTon Strategy Company | 159.7 m | — | -75.5% | -532.8% | +1,327.8% | −15% / −93% |
| DEFTDefi Technologies Inc. | 152.4 m | 2.3 | 74.0% | 62.9% | +215.5% | −74% / unavailable |
| HSDTSolana Company | 127.0 m | — | -183.2% | -1,302.8% | +1,057.1% | −49% / −100% |
| AGPUAxe Compute Inc | 86.2 m | — | -1,565.2% | -7,769.8% | +47.7% | +24% / −85% |
| MGLDThe Marygold Companies, Inc. | 84.1 m | — | -20.7% | -17.3% | +8.0% | +93% / +91% |
1- and 3-year price returns: for BMHL from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jun 2026; since then the company filed 6-K (14 Aug 2026), 6-K (24 Jul 2026).
In brief
Bluemount Holdings Ltd is a Hong Kong-based group providing consulting, advisory and financial services and trading luxury timepieces. In fiscal 2026 timepiece trading became the main revenue source, and the company has been listed on Nasdaq since late July 2025 1.
SWOT
Strengths
- The company has a diversified range of consulting and financial services, which reduces reliance on any single segment.
- The management team is described as industry veterans, which supports client relationships.
- Timepiece trading revenue has grown steadily over three years, showing solid demand.
Weaknesses
- Dependence on a small number of watch brands could expose the company to shifts in demand.
- Advisory revenue has fallen considerably, which could weigh on revenue stability.
- Impairment charges on receivables have risen, pointing to collection problems with some clients.
Opportunities
- Growth in asset management could diversify income sources.
- Expanding the retail network could increase watch sales volumes.
- The Nasdaq listing could help access capital to fund growth.
Threats
- Reliance on Hong Kong as the main market exposes the company to local economic changes.
- Counterfeit watches could damage the company's reputation and cause losses if bought by mistake.
- Exchange rate changes could reduce margins on international watch trading.
Risks
- Dependence on the Hong Kong markethigh
All gross sales proceeds come from Hong Kong, so local economic or political changes could affect results.
- Concentration on a few brandshigh
Inventory is concentrated in three watch brands, and a shift in market preferences could reduce sales.
- Counterfeit riskmedium
Authenticating watches is complex, and an error could cause financial losses and damage reputation.
- Client non-payment riskmedium
Clients in financial difficulty may delay or fail to pay for services, which could increase receivable losses.
- Dependence on key personnelmedium
Departure of management or experienced sales staff could affect operations and staff costs.
Investment thesis
What would need to be true (bull case)
- If demand for luxury watches holds, the trading segment could keep supporting growth in total revenue.
- Diversification into asset management could reduce dependence on a single segment.
- The Nasdaq listing could support business expansion and access to funding.
What would break the thesis
- If advisory revenue does not recover, profitability could suffer from the loss of higher-margin income.
- Rising receivable impairments could signal collection problems that worsen.
- Geographic and brand concentration could amplify the effect of a local demand shock.
What to watch
- Trend in advisory revenue and new transaction projectsnext 10-K
- Level of impairment losses on receivables2027
- Share of asset management in total revenue2027
- Progress on expanding the retail networknext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jun 2026; since then the company filed 6-K (14 Aug 2026), 6-K (24 Jul 2026).
The business
Through its operating subsidiaries, the company is a Hong Kong-based consulting, advisory and financial services provider and a trader of luxury timepieces. Total revenues were HK$62.1 million in fiscal 2026 1. The group structure includes Bluemount Cayman as the holding company, and SFC licences cover dealing, advising and asset management activities 1.
Segments
Luxury timepiece trading
This is the largest segment by revenue. The company buys and sells new branded luxury watches, and revenue has grown strongly over three years, reaching 76.35% of total revenue in fiscal 2026 1.
Consulting and advisory
The corporate finance segment offers strategy, transformation and transaction services to clients. Its share of revenue fell in fiscal 2026 to 8.70% of the total 1.
Financial services
This segment covers underwriting and placing, securities dealing and asset management. Its share rose to 14.95% of revenue in fiscal 2026, which could reduce reliance on timepiece trading if the trend continues 1.
Market context
The company's main market is Hong Kong, where all gross sales proceeds came from in the three years analysed. The luxury watch market is sensitive to demand, exchange rates and local economic conditions, and the advisory business depends on the volume of transaction projects 1.
Trends
- Strong demand for luxury watchestailwind
Revenue from timepiece trading grew in fiscal 2026, which suggests sustained demand. If demand holds, the segment could continue to dominate revenue 1.
- Decline in advisory projectsheadwind
Advisory revenue fell sharply, which the company attributes to the absence of major advisory projects. If projects do not return, pressure on this segment could continue 1.
- Growth in asset management incometailwind
Investment management fee income rose considerably in fiscal 2026, indicating a more diversified revenue base 1.
- Higher impairment on receivablesheadwind
Impairment losses on receivables increased in fiscal 2026 due to slower customer settlements. This could weigh on profitability if payment behaviour does not improve 1.
Competitive position
The company describes its competition in general terms and does not name specific rivals. Its stated strengths are a diversified service range, an experienced management team and stable client relationships 1.
- Hong Kong consulting and advisory firms
The source does not name specific competitors in this segment. Competition here depends on client relationships and the ability to win transaction projects.
- Hong Kong luxury watch dealers
The source names Hong Kong watch dealers as its main suppliers rather than as competitors. Competition in watch resale is not clarified in the sources.
- Hong Kong brokerage and asset management firms
The source does not identify competitors for the financial services segment. The comparison remains limited to what the annual report discloses.
- Other listed financial services companies
The source gives no names or tickers. There is not enough data for a reasoned comparison.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)14 Aug 2026
- Current report (foreign issuer)24 Jul 2026
- Annual report (foreign issuer)29 Jun 2026
- Current report (foreign issuer)20 Apr 2026
- Current report (foreign issuer)30 Mar 2026
- Annual report (foreign issuer)15 Aug 2025
- Current report (foreign issuer)30 Jul 2025
- Current report (foreign issuer)15 Jul 2025
Sources
- [1] Form 20-F, fiscal year ended 2026-03-31 · SEC / Bluemount Holdings Limited · 29 Jun 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.