olivLaw · US equity research
Acco Group Holdings Limited ACCL
Services-Management Consulting Services · SIC 8742 · Vertical: Services-Management Consulting Services (SIC 8742)
Acco Group Holdings Limited is a corporate services provider in Hong Kong and Singapore offering corporate secretarial, accounting and IP registration services through technology-enabled subsidiaries. The company grew revenue to about US$5.2 million in fiscal 2026, but profitability fell and its recent Nasdaq listing in October 2025 draws attention to its small business scale.
At the close of 03 Nov 2026, Acco Group Holdings Limited (ACCL) stock was 2.50 USD (−3.10% on the day), with market capitalisation 34.9 m USD, P/E 119.0 on diluted EPS of 0.02 USD over the last 12 months, beta 0.27, 52-week range 1.30–4.51 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)
- 43.9
- weak (30–45)
- Bollinger (20, 2)
- 2.42 – 2.87
- in the lower half of the band · %B 0.18 · band width 16.9%
- SMA 50 / 200
- 2.72 / 1.97
- mixed trend
- MACD (12, 26, 9)
- -0.04 / -0.02
- MACD below 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 | −3.8% | −1.1% | −2.7 pp | — |
| 3 months | −9.1% | −0.5% | −8.6 pp | — |
| 6 months | +66.7% | +4.4% | +62.3 pp | — |
| Year to date | −7.7% | +12.3% | −20.1 pp | — |
| 1 year | −42.8% | +13.5% | −56.3 pp | −20.9% |
| 3 years | unavailable | +76.4% | unavailable | −28.0% |
| 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
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.
Today's P/E sits at the 100 percentile of its own 1-quarter history (min 80.0, median 80.0, max 80.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue | 3.7 m | 4.3 m | 4.9 m | 5.1 m |
| Revenue YoY | unavailable | +17.6% | +12.5% | +5.8% |
| Net income | 641.9 k | 992.8 k | 1.0 m | 286.4 k |
| Net income YoY | unavailable | +54.7% | +2.9% | −72.0% |
| Diluted EPS | 0.05 | 0.08 | 0.08 | 0.02 |
| Diluted EPS YoY | unavailable | +50.9% | +3.8% | −74.7% |
| net % | 17.5% | 23.0% | 21.1% | 5.6% |
| Free cash flow | 734.3 k | 1.1 m | 1.5 m | 546.5 k |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 30 Jun 2026
- Cash
- 5.6 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 6.0 m USD
- Total assets
- 7.8 m USD
- Debt / equity
- unavailable
- Current ratio
- 4.21x
- ROE
- 7.0%
- ROA
- 4.9%
- FCF margin
- 10.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|
| Revenue | 3.7 m | 4.3 m | 4.9 m | 5.1 m | SEC (XBRL)· 21 Oct 2026verified |
| Cost of revenue | 1.8 m | 2.0 m | 2.5 m | 2.8 m | SEC (XBRL)· 21 Oct 2026verified |
| Gross profit | 1.7 m | 2.1 m | 2.1 m | 2.2 m | SEC (XBRL)· 21 Oct 2026verified |
| Operating income | 482.2 k | 1.1 m | 1.1 m | 231.2 k | SEC (XBRL)· 21 Oct 2026verified |
| Pre-tax income | 692.2 k | 1.1 m | 1.2 m | 330.6 k | SEC (XBRL)· 21 Oct 2026verified |
| Income tax | 50.3 k | 127.2 k | 130.5 k | 44.1 k | SEC (XBRL)· 21 Oct 2026verified |
| Net income | 641.9 k | 992.8 k | 1.0 m | 286.4 k | SEC (XBRL)· 21 Oct 2026verified |
| Diluted EPS | 0.05 | 0.08 | 0.08 | 0.02 | SEC (XBRL)· 21 Oct 2026verified |
| Weighted average diluted shares | 12.5 m | 12.5 m | 12.5 m | 13.5 m | SEC (XBRL)· 21 Oct 2026verified |
Balance sheet · USD
| Line | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|
| Cash | 1.8 m | 1.1 m | 2.5 m | 5.6 m | SEC (XBRL)· 21 Oct 2026verified |
| Receivables | — | 245.5 k | 293.6 k | 300.3 k | SEC (XBRL)· 21 Oct 2026verified |
| Current assets | — | 2.6 m | 2.9 m | 7.6 m | SEC (XBRL)· 21 Oct 2026verified |
| Property, plant & equipment, net | — | 14.7 k | 27.6 k | 39.3 k | SEC (XBRL)· 21 Oct 2026verified |
| Total assets | — | 2.7 m | 3.9 m | 7.8 m | SEC (XBRL)· 21 Oct 2026verified |
| Accounts payable | — | 19.3 k | 38.0 k | 2.3 k | SEC (XBRL)· 21 Oct 2026verified |
| Current liabilities | — | 1.5 m | 1.6 m | 1.8 m | SEC (XBRL)· 21 Oct 2026verified |
| Total liabilities | — | 1.5 m | 1.7 m | 1.8 m | SEC (XBRL)· 21 Oct 2026verified |
| Equity | 2.1 m † | 1.1 m † | 2.2 m † | 6.0 m † | SEC (XBRL)· 21 Oct 2026verified |
| Shares outstanding at year end | — | — | 12.5 m | 13.9 m | SEC (XBRL)· 21 Oct 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|
| Operating cash flow | 742.0 k | 1.1 m | 1.5 m | 572.4 k | SEC (XBRL)· 21 Oct 2026verified |
| Capex | 7.7 k | 1.3 k | 23.2 k | 25.9 k | SEC (XBRL)· 21 Oct 2026verified |
| Free cash flow | 734.3 k ≈ | 1.1 m ≈ | 1.5 m ≈ | 546.5 k ≈ | SEC (XBRL)· 21 Oct 2026derived |
| Investing cash flow | -7.7 k | -1.3 k | -23.2 k | -506.4 k | SEC (XBRL)· 21 Oct 2026verified |
| Financing cash flow | -1.1 m | -882.8 k | -1.1 m | 4.0 m | SEC (XBRL)· 21 Oct 2026verified |
| Dividends paid | 51.9 k | — | — | — | SEC (XBRL)· 17 Nov 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
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
- score weight coverage: 52.1% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 34.9 m USD
Key indicators
Coverage and freshness
Score by group
52% · 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: 0.28 – 0.52 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/E0.28 – 0.52 (Mid 0.41)12 companies used · median multiple 19.5x · quartiles 13.4x – 24.8xAERT, BAH, EXPO, FCN, G, HCKT, HURN, ICFI, III, RMR, TSSI, ZTG
- Dividend discount (DDM)unavailable · input data missing
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: score weight coverage: 52.1% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 5.6% | 70 (vs peers) | 12% |
| FCF conversion · Quality | 190.8% | 100 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | 11.9% | 99 (on a fixed band) | 16% |
| EPS CAGR 3Y · Growth | -26.6% | 0 (on a fixed band) | 16% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 4.2x | 100 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 119.0x | 12 (vs peers) | 20% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 1.6% | 20 (on a fixed band) | 16% |
| 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· partial100/100 · 1/3 factors with a value
- Growth50/100 · 2/2 factors with a value
- Quality85/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation15/100 · 2/3 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
ACCO GROUP HOLDINGS LIMITED (ACCL). Latest full fiscal year: 2026; data up to 2026-06-30.
Figures computed from the financial statements: revenue 5.1 m USD in 2026; YoY growth 5.8%; net margin 5.6%; ROE 7.0%.
The estimated value range is 0.28–0.52 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 0.41 USD, the price of 2.50 USD leaves a potential of -83.6% (value / price − 1) and a margin of safety of -509.9% (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 (score weight coverage: 52.1% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 190.8%
- Revenue CAGR 3Y: 11.9%
- Current ratio: 4.2x
What contradicts it
- EPS CAGR 3Y: -26.6%
- P/E (TTM): 119.0x
- FCF yield: 1.6%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Services-Management Consulting Services (SIC 8742) · same industry (4-digit SIC) · compared with 33 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 | |
|---|---|---|---|---|---|---|
| BAHBooz Allen Hamilton Holding Corporation | 10.5 bn | 13.7 | 70.0% | 7.1% | −6.4% | +6% / −29% |
| GGenpact Limited | 6.9 bn | 12.1 | 22.4% | 11.1% | +6.6% | −7% / +20% |
| FCNFti Consulting, Inc | 5.4 bn | 24.7 | 15.2% | 5.9% | +2.4% | +22% / −10% |
| EXPOExponent, Inc. | 4.2 bn | 39.2 | 31.2% | 17.7% | +4.2% | +21% / +14% |
| HURNHuron Consulting Group Inc. | 2.7 bn | 25.8 | 25.5% | 6.1% | +11.7% | +5% / +66% |
| ASTHAstrana Health, Inc. | 2.2 bn | 48.3 | 5.1% | 1.1% | +56.4% | +72% / +19% |
| ICFIICF International, Inc. | 1.7 bn | 20.1 | 8.6% | 4.9% | −7.3% | +24% / −31% |
| BWMNBowman Consulting Group Ltd. | 744.2 m | 105.3 | 2.9% | 1.4% | +14.9% | +19% / +39% |
| ONTOnterris, Inc. | 566.4 m | — | -2.5% | -1.4% | +19.3% | −37% / −48% |
| PPHCPublic Policy Holding Company, Inc. | 381.3 m | — | -39.5% | -18.9% | +24.7% | unavailable / unavailable |
| HCKTHackett Group, Inc. | 329.4 m | 19.0 | 20.7% | 6.3% | −2.6% | −28% / −40% |
| IIIInformation Services Group Inc. | 289.5 m | 25.2 | 12.7% | 4.7% | −1.2% | +13% / +46% |
| AERTAeries Technology, Inc. | 282.0 m | 20.9 | — | 3.6% | −0.3% | +35% / −68% |
| RMRRmr Group Inc. | 250.5 m | 12.6 | 8.7% | 3.1% | −22.0% | +10% / −30% |
| SUPXSuperx Ai Technology Limited | 209.8 m | — | -101.8% | -527.7% | +1,878.6% | −84% / unavailable |
| TSSITss, Inc. | 193.3 m | 14.1 | 32.0% | 7.4% | +65.9% | −29% / +1,976% |
| GRNQGreenpro Capital Corp. | 122.4 m | — | -26.8% | -169.6% | −40.7% | −57% / −19% |
| AUCAtif Holdings Limited | 109.4 m | — | -90.5% | -723.7% | −74.7% | −12% / −70% |
| ROMARoma Green Finance Limited | 101.0 m | — | -44.2% | -287.8% | −22.2% | +138% / unavailable |
| RTBRTB Digital, INC. | 92.6 m | — | -141.9% | -198.5% | −38.7% | −49% / −94% |
| MHHMastech Digital, Inc. | 74.9 m | 71.0 | 1.3% | 0.7% | −3.8% | −21% / −27% |
| EGGEnigmatig Ltd | 64.8 m | 268.0 | 6.3% | 12.6% | +12.2% | +40% / unavailable |
| CTMCastellum, Inc. | 46.4 m | — | -6.8% | -4.1% | +18.1% | −53% / +123% |
| ACCLAcco Group Holdings Limited | 34.9 m | 119.0 | 7.0% | 5.6% | +5.8% | −43% / unavailable |
| INTJIntelligent Group Limited | 33.5 m | — | -23.5% | -98.3% | −9.0% | −72% / unavailable |
1- and 3-year price returns: for ACCL 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
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 1.55 Total return -38% · Per year -38% | 2.74 Total return 9% · Per year 9% | 4.11 Total return 64% · Per year 64% |
| 3 years | 1.74 Total return -30% · Per year -11% | 3.42 Total return 37% · Per year 11% | 5.61 Total return 125% · Per year 31% |
| 5 years | 1.95 Total return -22% · Per year -5% | 4.29 Total return 72% · Per year 11% | 7.67 Total return 207% · Per year 25% |
- Exit P/E± 0.86
- Net margin± 0.60
- Annual revenue growth± 0.46
- Annual dilution± 0.05
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.
In brief
Acco Group Holdings Limited is a corporate services provider in Hong Kong and Singapore offering corporate secretarial, accounting and IP registration services through technology-enabled subsidiaries. The company grew revenue to about US$5.2 million in fiscal 2026 1, but profitability fell and its recent Nasdaq listing in October 2025 draws attention to its small business scale.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Reliance on subsidiary dividendshigh
The holding company depends on distributions from its subsidiaries to fund operations and shareholder payments, and restrictions could limit these payments 1.
- Controlling shareholder influencehigh
The controlling shareholder can influence decisions in ways that may not match the interests of other shareholders 1.
- Margin pressuremedium
Unforeseen costs or staff growth could reduce margins if they cannot be passed on to clients 1.
- Client credit riskmedium
Although fees are generally paid within 30 days, a growing client base could bring payment delays or defaults 1.
- Dependence on skilled staffmedium
A shortage of compliance, accounting or IP specialists could affect service quality and growth 1.
Investment thesis
What would need to be true (bull case)
- If revenue keeps growing in core lines and the accounting segment sustains its pace, the company could strengthen its position in Hong Kong 1.
- If automation and AI investments lower delivery costs, margins could recover toward earlier levels 1.
- Success in expanding into Southeast Asia and the United States could diversify revenue sources 1.
What to watch
- Gross margin and staff cost trends in the quarterly reportQ1 2027
- Recovery of IP registration revenue in Singapore2027
- Dividend flows from subsidiaries to the holding company and any restrictionsnext 10-K
- Progress on expansion into Southeast Asia and the United States2027
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.
The business
The business is organised in three service lines: corporate secretarial services, accounting services and intellectual property registration. The company says it has automated key corporate secretarial processes and uses generative AI tools for client service, and it reports client retention above 80% on average across its segments 1. The stated strategy targets Southeast Asia and the United States and the hiring of additional specialists 1.
Ownership is concentrated: the controlling shareholder holds most Class A shares and all Class B shares, giving it the large majority of voting power 1. The company states it has no operations or personnel in Mainland China and does not intend to set up a VIE structure there 1.
Segments
Accounting services
The fastest-growing segment, up 27.5% in fiscal 2026 to 24.2% of revenue, driven by new clients and expanded services to existing clients 1.
Intellectual property registration
Revenue from this segment fell 21.2% in fiscal 2026, which management attributes to a temporary change in sales personnel at the Singapore office 1.
Market context
The company operates in corporate service markets in Hong Kong and Singapore, where demand depends on regulatory requirements, the economic climate and the evolving business environment 1. Management describes competition as intense, particularly in Hong Kong, where many providers offer similar services 1. If delivery costs exceed estimates or clients pay late, margins and liquidity could be affected 1.
Trends
- Demand for compliance and fuller accounting supporttailwind
The company cites steady demand for statutory compliance and for more comprehensive accounting support, which supported revenue growth 1.
- Digitisation of servicestailwind
Process automation and AI tools could reduce manual work and improve client retention if the investments prove effective 1.
- Rising staff costsheadwind
Higher staff costs from expanding delivery teams reduced the gross margin compared with earlier years 1.
- Competition in Hong Kongmixed
Intense competition could press prices and affect market share, especially if new entrants offer cheaper service models 1.
Competitive position
Management notes that many providers in Hong Kong offer similar corporate services, and competition comes from both established players and new entrants 1. The source material does not name specific competitors, so the competitive picture stays general 1.
Stated differentiation rests on a client-centric approach and heavy use of technology, particularly in client service and due diligence 1. The company argues that many competitors still rely largely on manual work 1.
- Established Hong Kong corporate service providers
Referred to generically in the source without naming them; they compete directly in secretarial and accounting services 1.
- New entrants to the corporate services market
They may offer more competitive pricing or innovative service models, as the report warns 1.
- Singapore IP service providers
They compete in trademark registration, where the company reported lower sales in fiscal 2026 1.
- Providers relying on manual work
The company contrasts its technology-based model with these providers without naming them 1.
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
- Annual report (foreign issuer)21 Oct 2026
- Current report (foreign issuer)08 Sept 2026
- Current report (foreign issuer)30 Jun 2026
- Current report (foreign issuer)14 Jan 2026
- Current report (foreign issuer)16 Dec 2025
- Current report (foreign issuer)19 Nov 2025
- Annual report (foreign issuer)17 Nov 2025
- Current report (foreign issuer)20 Oct 2025
Sources
- [1] Form 20-F, fiscal year ended 2026-06-30 · SEC / Acco Group Holdings Limited · 21 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.