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ETOR

eToro Group Ltd.

ETOR

eToro Group Ltd. • NASDAQ
$41.97 ▼ -0.02% (-0.01)
Market Cap $3.51 B
52w High $79.96
52w Low $32.66
Dividend Yield 0%
P/E 17.06
Volume 713.24K
Outstanding Shares 83.70M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.104B ▲ $143.241M ▼ $56.817M ▲ 1.384% ▼ $0.66 ▲ $84.301M ▲
Q2-2025 $2.087B ▼ $167.701M ▲ $30.185M ▼ 1.446% ▼ $0.38 ▼ $52.433M ▼
Q1-2025 $3.751B ▲ $147.345M ▲ $59.952M ▲ 1.598% ▼ $0.73 ▲ $82.711M ▲
Q2-2024 $1.845B ▼ $130.256M ▲ $30.587M ▼ 1.658% ▼ $0.37 ▼ $48.72M ▼
Q1-2024 $3.38B $126.55M $64.11M 1.897% $0.78 $85.794M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.224B ▲ $1.801B ▲ $422.578M ▼ $1.378B ▲
Q2-2025 $1.188B ▲ $1.75B ▲ $431.193M ▲ $1.319B ▲
Q1-2025 $736.06M $1.256B $361.059M $894.665M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $56.817M ▲ $41.913M ▼ $66.985M ▲ $-1.7M ▼ $105.607M ▼ $39.898M ▼
Q2-2025 $30.185M ▼ $60.946M ▼ $-125.595M ▼ $380.9M ▲ $327.8M ▲ $59.851M ▼
Q1-2025 $59.952M ▲ $89.732M ▲ $-11.579M ▼ $-867K ▲ $84.665M ▲ $89.153M ▲
Q2-2024 $30.587M ▼ $71.951M ▲ $-262K ▲ $-914K ▼ $70.326M ▲ $71.689M ▲
Q1-2024 $64.11M $50.883M $-1.712M $-698K $44.894M $49.171M

Five-Year Company Overview

Income Statement

Income Statement ETOR’s income statement shows a business that is very sensitive to trading and crypto cycles. Revenue surged earlier in the period and then fell back sharply, but the company has moved from losses to modest profits more recently, suggesting meaningful cost control and better operating discipline. Earnings remain volatile, which is typical for a retail trading platform whose activity rises and falls with market sentiment. Some line items look unusually high relative to revenue, so the exact margins are hard to rely on, but the direction of travel is toward leaner, more sustainable operations at a lower revenue base.

Balance Sheet

Balance Sheet The balance sheet looks relatively conservative and asset‑light. ETOR carries only a small amount of debt compared with its equity, which helps reduce financial risk during weaker trading periods. Cash levels are solid for a fintech broker of its size, giving it some flexibility to invest in marketing, product and compliance. Overall, the company appears to be funding growth mainly through equity and retained earnings rather than heavy borrowing.

Cash Flow

Cash Flow Cash flow has generally been positive, with the business generating cash from operations in most years. Free cash flow closely tracks operating cash flow because capital spending is very low, which is consistent with a digital, platform‑based model. This pattern suggests the core business can throw off cash when trading activity is healthy, but investors should expect that cash generation will ebb and flow with market conditions and customer activity levels.

Competitive Edge

Competitive Edge ETOR’s edge comes from its social‑trading model, strong brand among retail investors, and early move into crypto trading. The network effect from copy‑trading and a large user base creates some stickiness: more traders attract more followers, which in turn attracts more traders. Its global regulatory licenses add credibility versus lightly regulated competitors. That said, the online brokerage space is crowded, switching costs for users are low, and large incumbents can copy features, so its moat is real but not unassailable.

Innovation and R&D

Innovation and R&D Innovation at ETOR is driven more by product and platform design than by heavy traditional R&D spending. The company has pioneered copy‑trading, thematic “Smart Portfolios,” and a social feed that makes trading feel more like a community experience. It is experimenting with AI and machine learning for personalization and sentiment‑driven products, and expanding into new regions with localized offerings that blend crypto and traditional assets. The key question is whether ETOR can keep refreshing its platform fast enough to stay ahead in a fast‑moving, easily imitated market.

Summary

Overall, ETOR looks like a growth‑oriented, asset‑light fintech broker with a distinctive social and crypto franchise, but with earnings and revenue that swing with market cycles. The balance sheet is relatively clean, with low leverage and decent cash, and the business has shown it can generate cash when conditions are favorable. Its competitive strengths lie in brand, network effects and user experience, yet it operates in an intensely competitive and heavily regulated industry where advantages can erode. Future performance will largely depend on its ability to keep users engaged, navigate regulation, expand thoughtfully into new markets, and convert innovation in AI and new products into more stable, recurring revenues.

NEWS

October 8, 2025 · 4:05 PM UTC

eToro Group Ltd. to Announce Third Quarter 2025 Results and Hold Investor Webcast on November 10, 2025

Read more