eToro Group Ltd.
- Open
- 39.93
- Day high
- 40.88
- Day low
- 39.76
- Prev close
- 39.47
- Volume
- 157K
- Mkt cap
- $3.2B
- P/E (TTM)
- 14.3
- EPS (TTM)
- $2.86
- P/B
- 2.3
- P/S
- 0.3
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$6.6M over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions accumulating (13F)
eToro Group Ltd. (ETOR) is a Financial Services company listed on NASDAQ. The stock is down 39% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
eToro Group Ltd. (ETOR) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 8 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ETOR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 12, 2026 | $0.65 | $0.91 | +40.0% | $258M | +9.9% |
| Feb 17, 2026 | $0.65 | $0.69 | +6.2% | $216M | -0.9% |
| Aug 12, 2025 | $0.49 | $0.56 | +14.3% | $2.1B | +926.1% |
| Jun 10, 2025 | $0.55 | $0.69 | +26.1% | $3.8B | +1653.2% |
ETOR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 2, 2026 | Ber Hedvaofficer: Global COO & Deputy CEO | Option | 20,660 | $17.50 |
| Jun 2, 2026 | Ber Hedvaofficer: Global COO & Deputy CEO | Sell | 55,160 | $41.90 |
| Jun 2, 2026 | Ber Hedvaofficer: Global COO & Deputy CEO | Option | 22,500 | $17.50 |
| Jun 2, 2026 | Ber Hedvaofficer: Global COO & Deputy CEO | Option | 6,000 | $15.00 |
| May 18, 2026 | POLITI SANTOdirector | Sell | 2,892 | $41.04 |
| May 18, 2026 | Eddy Shalevdirector | Sell | 100,000 | $41.26 |
| Apr 29, 2026 | Shani Meronofficer: CFO | Grant | 60,000 | $32.35 |
| Apr 29, 2026 | Stepak Avnerdirector | Grant | 9,270 | — |
| Apr 29, 2026 | SHALEV EDDYdirector | Grant | 9,270 | — |
| Apr 29, 2026 | Ber Hedvaofficer: Global COO & Deputy CEO | Grant | 40,000 | $32.35 |
| Apr 29, 2026 | POLITI SANTOdirector | Grant | 9,270 | — |
Source: ETOR SEC Form 4 filings, latest Jun 2, 2026. For informational purposes only — not investment advice.
See the full ETOR insider & 13F page →eToro Group Ltd. company profile
Overview
eToro Group Ltd. (NASDAQ:ETOR) is an Israeli-based financial technology company founded in 2007 that pioneered the concept of social trading. The company went public in May 2025 and operates a multi-asset investment platform that uniquely combines social networking features with traditional trading capabilities. With approximately 3.5 million funded accounts across 75 countries as of December 2024, eToro has established itself as a significant player in the retail trading and investment space, particularly among younger demographics seeking accessible and social investment experiences.
Business
eToro operates in the financial technology sector, specifically within the retail trading and investment platform industry. The company's core offering is a social trading platform that allows users to invest in various asset classes including stocks, cryptocurrencies, commodities, foreign exchange, and exchange-traded funds (ETFs). The platform's distinguishing feature is its social networking component, which enables users to follow and automatically copy the trading strategies of successful investors on the platform - a feature called "CopyTrading". This democratizes investment expertise by allowing novice investors to benefit from the knowledge and performance of experienced traders. Users can browse through profiles of top-performing traders, analyze their historical performance, risk levels, and investment strategies, then choose to allocate a portion of their portfolio to automatically mirror these traders' moves. Beyond social trading, eToro provides traditional brokerage services with commission-free stock trading in many markets, cryptocurrency trading, and access to various investment products. The platform is designed to be user-friendly and educational, targeting retail investors who may be intimidated by traditional brokerage platforms. eToro also offers investment-related content, market analysis, and educational resources to help users make informed investment decisions. The company generates revenue primarily through spreads on trades, overnight fees on leveraged positions, withdrawal fees, and currency conversion fees when users trade in different currencies than their account base currency.
Revenue model
eToro operates on a multi-revenue stream model typical of modern fintech trading platforms. The company primarily makes money through trading spreads - the difference between the buy and sell prices of assets on their platform. When users trade stocks, cryptocurrencies, or other assets, eToro captures a small spread on each transaction rather than charging explicit commissions. Additional revenue streams include overnight fees charged on leveraged positions that remain open after market close, withdrawal fees when users transfer money out of their accounts, and currency conversion fees when users trade in currencies different from their account's base currency. The company may also generate revenue from payment for order flow arrangements and interest on customer cash balances. The customer base consists primarily of retail investors, ranging from beginners seeking to learn through social features to more experienced traders using the platform's tools and asset variety. The social trading aspect attracts users who prefer to follow successful traders rather than conduct their own analysis. Several factors can impact eToro's margins and profitability. Market volatility generally increases trading activity and thus revenue, as seen in the significant revenue jump from $3.9 billion in 2023 to $12.6 billion in 2024. Regulatory changes in key markets can affect the types of products offered and fee structures. Competition from other commission-free brokers and established financial institutions entering the social trading space can pressure margins. Cryptocurrency market conditions significantly impact revenue given crypto's popularity on the platform. Interest rate environments affect the profitability of customer cash balances, while customer acquisition costs and retention rates directly impact the unit economics of the business model.
Competitive moat
eToro's competitive moat is moderately strong but not insurmountable, centered primarily around its network effects and first-mover advantage in social trading. The platform's value increases as more skilled traders join, creating content and strategies for others to follow, while simultaneously attracting more followers who provide the revenue base. This creates a virtuous cycle where successful traders are incentivized to maintain their presence on the platform due to the follower base they've built. The company benefits from switching costs related to users' established social connections, followed traders, and familiarity with the platform's unique interface. Users who have built portfolios around copying specific traders face friction in moving to competitors, as they would need to research and establish new relationships elsewhere. However, eToro's moat faces several challenges. The core social trading concept is not technically complex and can be replicated by well-funded competitors. Large established brokers like Charles Schwab, Fidelity, or international players could potentially integrate similar social features into their existing platforms, leveraging their larger customer bases and deeper resources. Regulatory risks also threaten the moat, as restrictions on social trading or copy trading could undermine the platform's key differentiator. The company's international presence across 75 countries provides some defensive positioning, but this also exposes it to diverse regulatory environments. While eToro has built brand recognition in the social trading niche, it lacks the deep financial resources, regulatory relationships, or institutional client base that provide stronger moats for traditional financial services companies. The moat is more dependent on execution and maintaining technological and user experience advantages rather than structural barriers to entry.
Risks & safety
eToro demonstrates a relatively strong financial position with adequate margin of safety for a growth-stage fintech company. Liquidity and Solvency: • Strong cash position of $575 million as of December 2024 • Excellent current ratio of 3.52, indicating strong short-term liquidity • Low debt-to-equity ratio of 0.058, minimal financial leverage risk • Positive free cash flow of $266 million in 2024, indicating self-funding capability Valuation Metrics: • Very attractive P/E ratio of 5.28 based on 2024 earnings • Low EV/EBITDA of 1.66, suggesting potential undervaluation • Price-to-book ratio of 1.22, reasonable for a technology company • Graham number analysis suggests potential value at current levels Other Considerations: • Dramatic revenue volatility (from $6.3B in 2022 to $3.9B in 2023 to $12.6B in 2024) indicates earnings cyclicality tied to market conditions • Strong return on equity of 23% in 2024 demonstrates efficient capital utilization • Recent IPO status provides additional capital cushion but also suggests limited operating history as a public company • Revenue heavily dependent on market volatility and trading activity, creating inherent business risk
Recent development
Based on the available financial data, eToro has experienced significant business volatility and growth over recent years, though specific strategic initiatives are not detailed in the provided earnings summaries. The most notable development is the company's dramatic revenue fluctuation, with revenues declining from $6.3 billion in 2022 to $3.9 billion in 2023, then surging to $12.6 billion in 2024. This pattern suggests the business is highly sensitive to market conditions and trading activity levels. The company achieved a remarkable operational turnaround, moving from a net loss of $215 million in 2022 to modest profitability of $15 million in 2023, and then to strong profitability of $192 million in 2024. This improvement in profitability despite revenue volatility indicates enhanced operational efficiency and cost management capabilities. The maintenance of a strong balance sheet throughout this period, with consistently high current ratios and low debt levels, suggests disciplined capital management. The company's ability to generate substantial free cash flow ($344 million in 2022, $111 million in 2023, and $266 million in 2024) even during challenging periods demonstrates the underlying strength of the business model. The May 2025 IPO represents a significant milestone, providing access to public capital markets and enabling future growth investments. The geographic expansion to 75 countries with 3.5 million funded accounts indicates continued international growth focus, positioning the company to capitalize on the global retail trading trend.
ETOR company profile · for informational purposes only — not investment advice.
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