Futu Holdings Ltd. ADR (FUTU) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$25.9	$26.6	+3.1%	—	$7.2B	—
Q1 26	$21.8	$6	-72.5%	—	$5.9B	—
Q4 25	$23.8	$24.4	+2.5%	—	$6.4B	—
Q3 25	$20.5	$23.4	+14.3%	—	$6.4B	—
Q2 25	$16.6	$18.9	+13.5%	—	$5.3B	—
Q1 25	$15.1	$19.7	+30.0%	—	$4.7B	—
Q4 24	$13.3	$13.9	+4.7%	—	$4.4B	—
Q3 24	$9.74	$9.97	+2.4%	—	$441.4M	—
Q2 24	$7.69	$8.66	+12.6%	—	$400.7M	—
Q1 24	$6.91	$7.46	+8.0%	—	$2.6B	—
Q4 23	$6.76	$6.31	-6.7%	—	$2.4B	—
Q3 23	$8.64	$8.34	-3.5%	—	$2.7B	—
Q2 23	$7.37	$8.52	+15.6%	—	$2.5B	—
Q1 23	$7.22	$8.98	+24.4%	—	$2.5B	—
Q4 22	$5.47	$7.18	+31.3%	—	$2.3B	—
Q3 22	$4.75	$5.66	+19.2%	—	$1.9B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$81.4	—	—	$22.8B	—
FY24	—	$39.4	—	—	$13.6B	—
FY23	—	$31	—	—	$10B	—
FY22	—	$20.6	—	—	$7.6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$87M	$311.7M	$811.3M	$1.1B	$3.3B	$7.1B	$7.6B	$10B	$13.6B	$22.8B
YoY change	—	+258.2%	+160.3%	+30.8%	+211.9%	+114.9%	+7.01%	+31.4%	+35.8%	+68.1%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	87M	311.7M	811.3M	1.1B	3.3B	7.1B	7.6B	10B	13.6B	22.8B
Cost of revenue	45.1M	109.1M	249.6M	281.7M	696M	1.2B	996.1M	1.5B	2.4B	2.9B
Gross profit	41.9M	202.6M	561.7M	779.9M	2.6B	5.9B	6.6B	8.5B	11.1B	19.9B
Gross margin	48.2%	65%	69.2%	73.5%	79%	83%	86.9%	84.7%	82%	87.1%
Research & development	61.6M	95.5M	151.1M	262.3M	513.3M	805.3M	1.2B	1.4B	1.5B	1.9B
Selling, general & administrative	91M	98.7M	201.9M	329.6M	633.7M	1.9B	1.8B	2B	3B	3.9B
Operating expenses	152.6M	194.3M	353M	591.9M	1.1B	2.7B	3B	3.5B	4.5B	5.8B
Operating income	-110.7M	8.3M	208.8M	188M	1.5B	3.2B	3.6B	5B	6.6B	14.1B
Operating margin	-127.2%	2.66%	25.7%	17.7%	44.3%	44.7%	46.9%	50%	48.7%	61.6%
Non-operating income, net	-1.1M	-4.9M	-8M	-9.5M	-17.2M	2.5M	-210.3M	33.4M	-86.4M	-367.4M
Pretax income	-111.7M	3.4M	200.8M	178.5M	1.5B	3.2B	3.4B	5B	6.5B	13.7B
Income tax	-13.3M	11.5M	62.3M	12.3M	124.8M	375.1M	414M	748.5M	998.3M	2.4B
Net income	-98.5M	-8.1M	138.5M	165.7M	1.3B	2.8B	2.9B	4.3B	5.4B	11.3B
Net margin	-113.2%	-2.6%	17.1%	15.6%	40%	39.5%	38.4%	42.8%	40%	49.5%
EBITDA	-107.1M	12.6M	217.1M	254.1M	1.5B	3.3B	3.7B	5.2B	6.8B	14.3B
EPS	-1.05	-1.11	0.72	1.36	10.2	18.7	20.6	31	39.4	81.4
Diluted EPS	-1.05	-1.11	0.56	1.28	10.1	18.4	20.3	30.6	38.9	80.2

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.7B	2.4B	2.6B	400.7M	441.4M	4.4B	4.7B	5.3B	6.4B	6.4B	5.9B	7.2B
Cost of revenue	437.4M	433.5M	470.2M	73.5M	80.3M	776M	749M	670.9M	793.7M	728.8M	749.3M	985.4M
Gross profit	2.2B	1.9B	2.1B	327.1M	361.2M	3.7B	3.9B	4.6B	5.6B	5.7B	5.1B	6.2B
Gross margin	83.5%	81.7%	81.9%	81.6%	81.8%	82.5%	84%	87.4%	87.6%	88.7%	87.2%	86.3%
Research & development	359.5M	363.1M	335.5M	47.9M	49.4M	399.5M	386M	441.9M	574.2M	506.6M	478.9M	501M
Selling, general & administrative	533.3M	552.9M	594M	89.7M	89.3M	1B	874.4M	854M	1.1B	1.1B	1.1B	1.3B
Operating expenses	892.9M	916M	929.5M	137.6M	138.7M	1.4B	1.3B	1.3B	1.7B	1.6B	1.6B	1.8B
Operating income	1.3B	1B	1.2B	189.6M	222.4M	2.2B	2.7B	3.3B	3.9B	4.1B	3.5B	4.5B
Operating margin	49.8%	43.1%	46%	47.3%	50.4%	50%	57.2%	63%	61%	64.4%	60.3%	62%
Non-operating income, net	-16.8M	-16.7M	31.7M	-5.5M	-16.9M	55.9M	-20.6M	-168.1M	-34.7M	-144M	-2.1B	-188.6M
Pretax income	1.3B	1B	1.2B	184.1M	205.5M	2.3B	2.7B	3.2B	3.9B	4B	1.4B	4.3B
Income tax	211.5M	125.8M	185.6M	27.8M	30.5M	358.4M	491M	579.8M	633.1M	655.7M	607M	698.4M
Net income	1.1B	876.4M	1B	154.9M	169.5M	1.9B	2.1B	2.6B	3.2B	3.4B	831M	3.6B
Net margin	41.2%	36.9%	39.9%	38.6%	38.4%	42.2%	45.6%	48.4%	50.2%	52.3%	14.2%	50.6%
EBITDA	1.3B	1B	1.2B	189.6M	222.4M	2.2B	2.7B	3.3B	3.9B	4.1B	3.5B	4.5B
EPS	8	6.4	7.52	8.8	9.6	13.5	15.4	18.5	23.2	24.3	6.08	26.3
Diluted EPS	7.84	6.32	7.44	8.64	9.44	13.4	15.3	18.2	22.8	23.9	6	26.1

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	—	—	45.1B	58.5B	—	22.9B	22.9B
Enterprise value	—	—	—	—	—	—	42.1B	56.2B	—	22.7B	22.7B
Shares outstanding	865.3M	393.3M	393.3M	811.2M	1B	1.2B	1.1B	1.1B	138M	139.3M	139.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	—	15.4	13.7	—	2.02	2.02
P/S	—	—	—	—	—	—	5.93	5.85	—	1	1
P/B	—	—	—	—	—	—	2.16	2.38	—	0.57	0.57
EV/EBITDA	—	—	—	—	—	—	11.3	10.9	—	1.59	1.59
EV/Sales	—	—	—	—	—	—	5.52	5.62	—	0.99	0.99
Earnings yield	—	—	—	—	—	—	6.49%	7.31%	—	49.4%	49.4%
FCF yield	—	—	—	—	—	—	7.5%	-11%	—	178.1%	178.1%

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	48.2%	65%	69.2%	73.5%	79%	83%	86.9%	84.7%	82%	87.1%	87.1%
Operating margin	-127.2%	2.66%	25.7%	17.7%	44.3%	44.7%	46.9%	50%	48.7%	61.6%	61.6%
Net margin	-113.2%	-2.6%	17.1%	15.6%	40%	39.5%	38.4%	42.8%	40%	49.5%	49.5%
ROE	51.8%	3.48%	-92.2%	6.5%	16%	13.4%	14%	17.4%	19.4%	28%	28%
ROA	-2.18%	-0.07%	0.86%	0.77%	1.86%	2.77%	3.1%	4.41%	3.42%	4.95%	4.95%
ROIC	62.1%	0%	12.5%	4.69%	7.4%	10.7%	17.6%	19.1%	25.3%	29%	29%
Return on tangible assets	-2.18%	-0.07%	0.86%	0.77%	1.86%	2.77%	3.1%	4.41%	3.43%	4.96%	4.96%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.03	1.08	1.1	1.13	1.13	1.25	1.27	1.32	1.19	1.19	1.19
Quick ratio	1.03	1.08	1.1	1.13	1.13	1.25	1.27	1.32	1.19	1.19	1.19
Debt / equity	-1.02	-8.34	-10.5	0.64	1.34	0.53	0.13	0.24	0.31	0.43	0.43
Debt / assets	0.04	0.18	0.1	0.08	0.16	0.11	0.03	0.06	0.05	0.08	0.08
Net debt / EBITDA	-0.11	124.4	5.99	4.67	6.35	1.59	-0.82	-0.44	-0.86	-0.01	-0.01
Effective tax rate	0%	100%	31%	6.88%	8.6%	11.8%	12.3%	14.8%	15.3%	17.2%	17.2%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	0.1	0.79	2.06	1.31	3.28	6.08	6.86	9.34	98.5	164	164
EPS (basic)	-1.05	-1.11	0.72	1.36	10.2	18.7	20.6	31	39.4	81.4	81.4
EPS (diluted)	-1.05	-1.11	0.56	1.28	10.1	18.4	20.3	30.6	38.9	80.2	80.2
Book value per share	-0.22	-0.59	-0.38	3.14	8.23	17.9	18.8	22.9	202.9	289.4	289.4
FCF per share	1.61	4.7	11.3	2.28	20.2	5.08	3.05	-5.99	223.4	292.4	292.4
Cash per share	0.21	0.95	0.7	0.56	1.32	4.98	5.17	7.65	104.5	126.8	126.8
Capex per share	0	0.02	0.05	0.15	0.04	0.06	0.08	0.07	1.21	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.63%	2.37%	2.32%	11.1%	1.35%	0.99%	1.19%	0.78%	1.23%	—	—
Capex / operating cash flow	0.29%	0.4%	0.42%	6.2%	0.22%	1.18%	3.09%	-1.19%	0.55%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	19%	19%
Dividend yield	—	—	—	—	—	—	—	—	—	9.4%	9.4%

Yield

—

trailing twelve months

Frequency

Annual

Last dividend

$2.60

ex-dividend Apr 16, 2026

Payout ratio

19%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Apr 16, 2026	$2.60
Dec 6, 2024	$2.00

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2.7B	$2.4B	$2.6B	$400.7M	$441.4M	$4.4B	$4.7B	$5.3B	$6.4B	$6.4B	$5.9B	$7.2B
YoY change	+36.2%	+4.06%	+3.7%	-83.9%	-83.3%	+86.8%	+81.1%	+1.2K%	+1.4K%	+45.3%	+24.7%	+35.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	181.3M	375.3M	275M	456.3M	1.3B	5.8B	5.7B	8.2B	14.4B	17.7B
Receivables	813.1M	388M	771.5M	1.8B	8.1B	10.4B	9.8B	10.1B	22.8B	27.7B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	4.5B	10.8B	16B	21.1B	70.8B	100.7B	93.1B	95.4B	155.9B	223.7B
Property, plant & equipment	8.9M	14M	23.5M	251.1M	289.2M	391.4M	307.5M	304.7M	366.9M	734M
Goodwill & intangibles	3M	2.6M	2.8M	15.4M	20.4M	34.4M	108.9M	144.1M	171.3M	440M
Total assets	4.5B	10.9B	16.1B	21.4B	71.3B	101.5B	94.5B	97.1B	158.8B	228.4B
Accounts payable	4.2B	8.4B	13.2B	17B	51.1B	67.2B	69.2B	64.7B	117.2B	166B
Short-term debt	161.2M	1.5B	1.2B	1.5B	11B	10.9B	2.6B	5.8B	8.4B	17.1B
Total current liabilities	4.3B	10B	14.6B	18.7B	62.9B	80.4B	73.5B	72.4B	130.6B	187.7B
Long-term debt	32M	400M	400M	174.1M	155.9M	163.7M	101.7M	123.3M	132.9M	393.8M
Total liabilities	4.7B	11.2B	16.2B	18.9B	63B	80.6B	73.6B	72.6B	130.8B	188.1B
Shareholders' equity	-190.2M	-232.9M	-150.2M	2.5B	8.3B	21B	20.9B	24.6B	28B	40.3B
Total debt	193.2M	1.9B	1.6B	1.6B	11.2B	11.1B	2.7B	5.9B	8.6B	17.5B
Net debt	14.2M	1.6B	1.4B	1.3B	10.1B	6.5B	-2.3B	952M	-3.1B	7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	8.2B	8.2B	10.1B	1.6B	1.5B	14.4B	9.6B	9.4B	15.9B	17.7B	23.6B	25.6B
Receivables	10.5B	10.1B	12.1B	1.5B	2.9B	22.8B	29.2B	31.5B	38.5B	27.7B	28.2B	31.2B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	95.2B	95.4B	105.6B	15.2B	18.1B	155.9B	176.5B	194.8B	238.9B	223.7B	240.9B	285.2B
Property, plant & equipment	169.4M	304.7M	204.7M	33.4M	37.7M	366.9M	390.8M	479.7M	566.6M	734M	570.3M	698.4M
Goodwill & intangibles	—	144.1M	—	—	—	171.3M	—	—	—	440M	—	—
Total assets	96.6B	97.1B	107.3B	15.5B	18.4B	158.8B	180.6B	198.4B	243.4B	228.4B	246.3B	292.6B
Accounts payable	65.9B	64.7B	75.6B	11B	13.9B	117.2B	135.6B	151.5B	187.8B	166B	175.3B	217B
Short-term debt	5.1B	5.8B	3.9B	732.2M	535M	8.4B	11B	9.5B	13.2B	17.1B	22.1B	27.8B
Total current liabilities	73B	72.4B	81.5B	12B	14.7B	130.6B	150.1B	164.8B	206.1B	187.7B	204.4B	252.7B
Long-term debt	95.1M	123.3M	107.7M	18.4M	28.3M	132.9M	275.5M	342.5M	416.1M	393.8M	395.6M	527.5M
Total liabilities	73.1B	72.6B	81.7B	12B	14.8B	130.8B	150.3B	165.1B	206.6B	188.1B	204.8B	253.4B
Shareholders' equity	23.5B	24.6B	25.7B	3.4B	3.7B	28B	30.3B	33.3B	36.8B	40.3B	41.5B	39.2B
Total debt	5.2B	5.9B	4.1B	750.7M	563.3M	8.6B	11.2B	9.8B	13.6B	17.5B	22.5B	28.3B
Net debt	-61.2M	952M	-2.6B	-450.4M	-599.2M	-3.1B	4.7B	3.5B	2.9B	7B	6B	9.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-98.5M	-8.1M	138.5M	165.7M	1.3B	2.8B	2.9B	4.3B	5.4B	11.3B
Depreciation & amortization	3.6M	4.3M	8.3M	66.1M	79.8M	120.1M	149.6M	171.2M	175.5M	223M
Stock-based compensation	9.2M	9.8M	10.4M	16M	32.6M	98.9M	204.5M	290.8M	334.9M	343M
Change in working capital	1.5B	1.8B	4.3B	1.7B	18.7B	3B	-299.5M	-11.3B	24.6B	28.7B
Operating cash flow	1.4B	1.8B	4.5B	1.9B	20.1B	6B	2.9B	-6.5B	30.5B	40.8B
Capital expenditure	-4M	-7.4M	-18.8M	-118.3M	-44.6M	-70.5M	-90.5M	-77.8M	-167.5M	—
Investing cash flow	-6.3M	-5.1M	-78.1M	-166.8M	-244.2M	-963.6M	93.9M	-2.4B	103.9M	-1.7B
Dividends paid	—	—	—	—	—	—	—	—	—	-2.2B
Share repurchases	—	—	—	0	0	-1.2B	-3.1B	-874.7M	0	0
Financing cash flow	147.6M	3.7B	71.4M	1B	-13.7B	11.4B	-10.9B	-74.1B	-85.4B	-186.6B
Net change in cash	1.5B	5.5B	4.5B	2.8B	6.1B	16.4B	-7.9B	-83.1B	-54.8B	-147.6B
Free cash flow	1.4B	1.8B	4.5B	1.9B	20.4B	5.9B	3.4B	-6.4B	30.8B	40.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 18	Q2 18	Q3 18	Q4 18	Q1 19	Q2 19	Q3 19	Q4 19	Q3 21	Q4 21	Q3 22	Q4 22
Net income	—	—	—	38.2M	—	—	—	—	615.2M	498.8M	754.6M	958.7M
Depreciation & amortization	—	—	—	2.8M	—	—	—	—	34.4M	33.8M	31.5M	42.7M
Stock-based compensation	—	—	—	3.2M	—	—	—	—	30.9M	34.6M	51.5M	55.8M
Change in working capital	—	—	—	1B	—	—	—	—	18.9B	71M	-13.1B	86M
Operating cash flow	—	—	—	1.1B	—	—	—	—	19.6B	625.1M	-12.3B	1.1B
Capital expenditure	—	—	—	-5.1M	—	—	—	—	-28.8M	-13M	-12.8M	-15M
Investing cash flow	—	—	—	-111.3M	—	—	—	—	-28.8M	-1.2B	-16.2M	-676.1M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	0	-1.2B	-65.4M	-349.3M
Financing cash flow	—	—	—	-2.3B	—	—	—	—	-42.8B	-4.4B	4.3B	-8.5B
Net change in cash	—	—	—	-1.3B	—	—	—	—	-23.2B	-5B	-8B	-8.1B
Free cash flow	734.8M	-603M	3.3B	1.1B	-781.1M	305.8M	-716.9M	3B	19.5B	794.2M	-12B	1.3B

Futu Holdings Ltd. ADR Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement