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FUTU

Futu Holdings Limited

FUTU

Futu Holdings Limited • NASDAQ
$169.66 ▲ 0.04% (+0.06)
Market Cap $23.62 B
52w High $202.53
52w Low $70.60
Dividend Yield 1.95%
P/E 18.98
Volume 427.25K
Outstanding Shares 139.23M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.403B ▲ $1.705B ▲ $3.228B ▲ 50.41% ▲ $23.2 ▲ $3.904B ▲
Q2-2025 $5.311B ▲ $1.296B ▲ $2.574B ▲ 48.47% ▲ $18.48 ▲ $3.344B ▲
Q1-2025 $4.695B ▲ $1.26B ▼ $2.145B ▲ 45.697% ▲ $15.44 ▲ $2.685B ▲
Q4-2024 $4.433B ▲ $1.439B ▲ $1.872B ▲ 42.226% ▲ $13.36 ▲ $2.217B ▲
Q3-2024 $3.436B $1.08B $1.321B 38.446% $9.42 $1.731B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $15.906B ▲ $243.379B ▲ $206.584B ▲ $36.455B ▲
Q2-2025 $9.378B ▼ $198.399B ▲ $165.12B ▲ $33.291B ▲
Q1-2025 $9.629B ▼ $180.638B ▲ $150.348B ▲ $30.3B ▲
Q4-2024 $14.421B ▲ $158.757B ▲ $130.752B ▲ $28.011B ▼
Q3-2024 $11.971B $143.462B $115.044B $28.423B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $2.574B ▲ $0 $0 $0 $0 $0
Q1-2025 $2.145B ▲ $0 $0 $0 $0 $0
Q4-2024 $1.872B ▲ $0 $0 $0 $0 $0
Q3-2024 $1.321B ▲ $0 $0 $0 $0 $0
Q2-2024 $1.212B $0 $0 $0 $0 $0

Revenue by Products

Product Q3-2022Q4-2022
Brokerage Commission Income
Brokerage Commission Income
 $770.00M ▲$860.00M ▲
Handling Charge Income
Handling Charge Income
 $190.00M ▲$190.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Futu’s income statement shows a company that has scaled quickly while keeping costs under good control. Revenue has grown strongly over the past several years, and profits have risen even faster, which suggests healthy margins and solid operating discipline. Earnings per share have climbed meaningfully, implying that growth is not just coming from adding more users, but also from getting more profit out of each unit of business. The main risk here is that a large part of the business is tied to trading activity and investor sentiment, which can swing with market cycles and regulation, especially in Greater China.

Balance Sheet

Balance Sheet The balance sheet has become steadily stronger over time. Total assets and cash holdings have grown significantly, while shareholders’ equity has also increased, reflecting the accumulation of profits. Debt has moved around but looks manageable relative to the asset base and equity, and leverage appears to have come down compared with earlier years when borrowing was higher. Overall, Futu now looks more resilient, with a better capital cushion to absorb market or regulatory shocks, though it still operates in a sector where confidence and liquidity can change quickly.

Cash Flow

Cash Flow Cash generation is a notable strength. Except for one weak year, Futu has typically produced solid cash from its core operations, and it requires very little spending on physical assets to run and grow the business. This “asset-light” model means most of the cash it generates can be used for technology, marketing, or strengthening the balance sheet rather than heavy capital projects. The swing from a cash outflow in the recent past to strong inflows more recently shows improved execution, but also underlines how sensitive cash flow can be to market conditions and trading volumes.

Competitive Edge

Competitive Edge Futu’s competitive position is built around technology, user experience, and ecosystem depth. Its proprietary trading system gives it speed, reliability, and flexibility that many rivals who rely on third-party solutions may lack. The flagship apps, Futubull and moomoo, bundle trading, analysis tools, education, and a social community into one experience, which keeps users engaged and raises switching costs. The company operates across multiple markets with important licenses, has a large and active user base, and benefits from brand support and infrastructure ties with Tencent. On the other hand, it competes with both traditional brokers and aggressive fintech players worldwide, and it faces regulatory and political risk in every major jurisdiction it operates in, which could affect growth or product scope over time.

Innovation and R&D

Innovation and R&D Innovation is at the center of Futu’s strategy. It develops most of its technology in-house, from core trading engines to client-facing features, allowing fast iteration and tight integration. Beyond retail brokerage, it has built wealth management, corporate services (such as stock plan administration and IPO services), and more recently cryptocurrency trading, turning its platform into a broader financial hub. The company is pushing hard into artificial intelligence with tools like Moomoo AI and plans for AI-driven trading aids, which could further differentiate the user experience if executed well. The opportunity is to deepen engagement and monetization per client; the risk is that both AI and digital assets are fast-moving, heavily scrutinized areas where missteps or regulatory changes could be costly.

Summary

Overall, Futu looks like a high-growth, high-tech financial platform that has turned rapid client and revenue expansion into strong profitability, a healthier balance sheet, and robust cash generation. Its moat rests on proprietary technology, an engaging multi-feature app ecosystem, and a growing international presence, supported by meaningful ongoing investment in R&D and AI. Key watchpoints include its exposure to trading cycles, regulatory and geopolitical risk across its main markets, intensifying competition from global brokers and fintechs, and execution risk around new areas such as AI-powered tools and cryptocurrency services. The story is one of a maturing, still-innovative fintech broker that has moved from early growth into a more financially solid phase, while remaining closely tied to market and regulatory conditions.

NEWS

November 18, 2025 · 6:40 PM UTC

Online trading platform moomoo opens first Australian store

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November 18, 2025 · 4:31 AM UTC

Moomoo's Parent Company Futu Releases Q3 2025 Results: Net Income Up 137% YoY to US$425.7 Million

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November 18, 2025 · 3:00 AM UTC

Futu Announces Third Quarter 2025 Unaudited Financial Results

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November 11, 2025 · 8:00 AM UTC

Moomoo Financial Canada Wins Benzinga Chairman's Award for Canada's Best U.S. Stock Trading Platform

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November 5, 2025 · 3:00 AM UTC

Futu to Report Third Quarter 2025 Financial Results on November 18, 2025

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