One-glance verdict
Undervalued
$13.95 our estimate vs market $1.29
91% below our estimate, below the bear case
Fundamentals snapshot
Millennium Group International Holdings Limited
MGIH · NCM · Consumer Cyclical · Packaging & Containers
Current price
$1.29
52-week range
$1.11 - $1.98
Market cap
$14.51M
Balance sheet
Distressed
-7.22x Concerning
Net debt $694.78K. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
1 Risk
1 rewards · 1 risks
- Reward Free cash flow was positive in 3/10 years.
- Risk Return on equity was -32.4% last year — the company lost money on shareholders' equity.
What this company does
Millennium Group International Holdings Limited
Millennium Group International Holdings Limited makes and sells paper packaging like cardboard for many products, from shoes to electronics, and gets most of its money from selling these packaging materials. They also help manage the whole process of getting these boxes made and delivered, which is important because good packaging is key for protecting goods and making them look nice to customers.
How the company got here
Millennium Group International Holdings Limited started in 1978 as a family-owned business in Hong Kong, initially focusing on corrugated paper products. Over the decades, it has grown and diversified, establishing factories in mainland China and Vietnam. A significant turning point was its expansion into providing a wider range of paper-based packaging solutions for various industries. The company also developed its supply chain management services, particularly for clients sourcing from Southeast Asia. In 2023, Millennium Group International Holdings Limited took a major step by listing on the Nasdaq stock exchange, aiming to fund further expansion and enhance its global presence.
What it actually does
Millennium Group International Holdings Limited is a company that makes and sells paper-based packaging. Think of all the boxes your online orders come in, or the cardboard inserts that keep your new phone safe – that's what they create. They produce everything from the raw paper materials to the finished, printed boxes and displays used by many different types of businesses. Their goal is to provide packaging that is not only functional but also creative and sustainable, helping brands present their products effectively.
Packaging Products
This is the core of Millennium Group's business. They manufacture a wide variety of paper packaging, including things like kraft paper, cardboard, and corrugated paperboards. These are used by many different companies to package their goods, such as footwear, sportswear, electronics, and food and beverages. Essentially, if a product needs a box or a protective paper-based container, this segment likely makes it. They produce both the inner packaging that directly holds a product and the outer cartons used for shipping and protection.
Board Games and Book Production
Beyond traditional packaging, Millennium Group also has a segment dedicated to producing board games and their accessories. This involves the printing and assembly of game boards, cards, and other components. Additionally, they offer book production services, which include designing covers, laying out the inside pages, printing, and binding. This shows how the company leverages its printing and paper-handling expertise for different types of paper-based products.
Packaging Products Supply Chain Management Solutions
This part of the business helps other companies manage the process of getting their packaging needs met. It's like a service that ensures the right packaging materials are available when and where they are needed. This can involve everything from sourcing raw materials to coordinating production and delivery. Millennium Group offers these solutions particularly to international clients who are sourcing packaging from Vietnam and other Southeast Asian countries, helping to streamline their operations.
What management is betting on now
Millennium Group's management is focused on expanding its manufacturing capabilities, particularly in Vietnam and China, as evidenced by their recent IPO funding. They are investing in new production facilities and equipment to increase their capacity for producing corrugated paper products and other packaging solutions. The company is also emphasizing sustainability, exploring the use of clean energy like solar power in its operations. This strategic focus aims to meet growing global demand for packaging, enhance their market reach, and improve their operational efficiency.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q4
$-3.74M
FY2026 Q4
$-5.99M
Revenue
$20.34M
Net income
$-7.09M
Diluted EPS
-0.63
Operating cash flow
$-4.49M
Free cash flow
$-5.99M
Fetching…
Sources
Revenue
$25.33M
Net income
$-6.32M
Diluted EPS
-0.56
Operating cash flow
$-1.72M
Free cash flow
$-3.74M
Fetching…
Sources
Is it cheap or expensive?
Fair value $13.95 vs current price $1.29
Our most-likely fair value is $13.95 a share — about 981.0% above today's price of $1.29, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Distressed
Net debt $694,777. Interest coverage -7.2x.
Net debt
$694.78K
Interest coverage
-7.22x
Millennium Group International Holdings Limited's profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 5 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
MGIH
BASELINE
Millennium Group International Holdings Limited
Total debt $6.49M Interest coverage -7.22x This is the baseline the peer rows are being compared against.
Total debt $10.19M Interest coverage -10.64x Neither company has much profit cushion over interest right now.
Total debt $43.14M Interest coverage -54.26x Neither company has much profit cushion over interest right now.
Total debt $8.56M Interest coverage -2.33x Neither company has much profit cushion over interest right now.
Total debt $434.90M Interest coverage -0.71x Neither company has much profit cushion over interest right now.
Total debt $580.80M Interest coverage 0.74x This peer still has a real interest-payment cushion, while MGIH does not.
What you should know
The case for and against MGIH
1 Reward
1 Risk
Rewards
-
Free cash flow was positive in 3/10 years.
Risks
-
Return on equity was -32.4% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
—
P/B
0.77x
P/S
0.71x
EV/EBITDA
-2.33x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
8.1%
Operating margin
-41.3%
Net margin
-34.9%
ROE
-32.4%
ROA
-13.9%
Health
Liquidity and balance-sheet strength
Debt / equity
0.34x
Current ratio
1.46x
Quick ratio
1.23x
Total debt
$6.49M
Total cash
$5.79M
Growth
How the business has been compounding
Revenue TTM
$129.80M
Revenue 5Y CAGR
-25.6%
EPS TTM
-0.63
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-2.21M
Free CF TTM
$-5.99M
FCF margin
-4.6%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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