Futu Holdings Limited
- Open
- 123.30
- Day high
- 124.05
- Day low
- 121.32
- Prev close
- 124.26
- Volume
- 1.3M
- Mkt cap
- $17.1B
- P/E (TTM)
- 12.0
- EPS (TTM)
- $10.18
- P/B
- 3.5
- P/S
- 5.2
- Yield
- 2.09%
- Per share
- $2.55
Futu Holdings Limited (FUTU) is a Financial Services company listed on NASDAQ. The stock is down 35% over the past year. Drillr has 2 published research articles covering FUTU.
Futu Holdings Limited (FUTU) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FUTU earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 20, 2026 | $2.99 | $3.33 | +11.3% | $918M | +14.5% |
| May 28, 2026 | $2.91 | $0.77 | -73.6% | $747M | -4.0% |
| Mar 12, 2026 | $2.90 | $3.07 | +5.9% | $828M | +2.1% |
| Nov 18, 2025 | $3.04 | $2.93 | -3.7% | $823M | +4.6% |
| Aug 20, 2025 | $2.12 | $2.32 | +9.3% | $677M | +13.4% |
| May 29, 2025 | $1.78 | $1.96 | +10.2% | $604M | +21.7% |
| Mar 13, 2025 | $1.55 | $1.72 | +11.0% | $504M | -14.0% |
| Nov 19, 2024 | $1.27 | $1.21 | -4.7% | $442M | +7.1% |
| Aug 20, 2024 | $1.03 | $1.11 | +7.8% | $352M | -10.9% |
| May 28, 2024 | $0.87 | $0.95 | +9.7% | $331M | +5.0% |
| Mar 14, 2024 | $0.96 | $0.81 | -15.3% | $304M | -8.4% |
| Nov 23, 2023 | $1.00 | $1.00 | +0.0% | $339M | +4.8% |
FUTU insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 23, 2026 | XU LIofficer: Senior Vice President | Grant | 40,000 | — |
| Nov 14, 2018 | SPENCER CHRISTOPHER Jdirector, other: Former CEO | Grant | 1,011,781 | $0.10 |
| Nov 14, 2018 | Busshaus John Lawrenceother: Former CFO | Grant | 1,011,781 | $0.10 |
| Nov 13, 2014 | Busshaus John Lawrenceofficer: Chief Financial Officer | Buy | 14,242 | $0.13 |
| Sep 2, 2014 | SPENCER CHRISTOPHER Jdirector, officer: Chief Executive Officer | Buy | 130,000 | $0.08 |
| Sep 2, 2014 | SPENCER CHRISTOPHER Jdirector, officer: Chief Executive Officer | Buy | 50,000 | $0.06 |
| Sep 2, 2014 | SPENCER CHRISTOPHER Jdirector, officer: Chief Executive Officer | Buy | 70,375 | $0.09 |
| Dec 27, 2013 | SPENCER CHRISTOPHER Jdirector, officer: Chief Executive Officer | Buy | 58,662 | $0.12 |
| Dec 27, 2013 | SPENCER CHRISTOPHER Jdirector, officer: Chief Executive Officer | Buy | 41,338 | $0.11 |
| Nov 27, 2013 | SPENCER CHRISTOPHER Jdirector, officer: Chief Executive Officer | Buy | 100,000 | $0.09 |
Source: FUTU SEC Form 4 filings, latest Jun 23, 2026. For informational purposes only — not investment advice.
See the full FUTU insider & 13F page →FUTU research & analysis
Futu (FUTU), UP Fintech (TIGR) Block Mainland Deposits and Buy Orders
China's May 2026 plan makes offshore brokers block mainland deposits and buy orders in their own apps; Futu says mid-single-digit percent of client assets left.
01299.HK01788.HK300059.SZWebull (BULL), Cboe (CBOE): Pattern Day Trader Repeal Lifts Trade Counts
Since the pattern day trader rule ended on 4 June 2026, Webull's options contracts rose 34% sequentially against 7% for equity notional, and Cboe measured it.
8698.TBRBULL
Futu Holdings Limited company profile
Overview
Futu Holdings Limited (NASDAQ:FUTU) is a Hong Kong-based financial technology company that provides digitalized securities brokerage and wealth management services across Asia-Pacific markets. Founded in 2007 and publicly listed in 2019, the company has evolved from a traditional brokerage into a comprehensive fintech platform serving over 2.4 million paying clients across Hong Kong, Singapore, Malaysia, Japan, Australia, Canada, and the United States. Operating primarily through its Futubull and Moomoo digital platforms, Futu has positioned itself as a leading online broker targeting tech-savvy retail investors seeking access to global financial markets.
Business
Futu operates as a digital securities brokerage and wealth management platform that democratizes access to global financial markets for retail investors. The company's core business revolves around providing online trading services for stocks, options, derivatives, and other financial instruments across multiple international markets. The company operates through two primary digital platforms: Futubull and Moomoo. These mobile and desktop applications serve as comprehensive financial ecosystems where users can trade securities, access market data, participate in community discussions, and manage their wealth. The platforms combine traditional brokerage services with social trading features, educational content, and advanced analytical tools. Futu's business can be divided into several key segments. Brokerage services represent the largest revenue component, generating approximately 35-40% of total revenue through trading commissions on stocks, options, and derivatives. Interest income accounts for roughly 45-50% of revenue, earned from client margin financing and idle cash management. Wealth management services contribute about 10-15% of revenue through distribution of mutual funds, structured products, bonds, and money market funds under the Money Plus brand. The company also operates enterprise services, including IPO distribution, investor relations services, and employee stock ownership plan (ESOP) administration for corporate clients. Additionally, Futu provides market data and information services and maintains the NiuNiu Community, an online forum where users share investment insights and market analysis. Recent expansion includes cryptocurrency trading services launched in Hong Kong and Singapore, representing the company's entry into digital asset markets. The platform has also introduced robo-advisory services and enhanced its wealth management capabilities with ETF-based investment products.
Revenue model
Futu generates revenue through multiple complementary streams that benefit from increased client engagement and asset growth. The company's primary revenue model consists of commission-based brokerage fees charged on securities transactions, interest income from margin lending and cash management, and wealth management distribution fees. Brokerage commissions are earned when clients execute trades across various asset classes including stocks, options, and derivatives. The company employs competitive pricing strategies, particularly for U.S. stock trading, to attract high-volume traders. Commission rates vary by market and product type, with the company focusing on volume growth rather than premium pricing. Interest income represents the largest revenue component, generated from two primary sources: margin financing provided to clients for leveraged trading, and interest earned on client idle cash balances. The company benefits from rising interest rate environments as it can earn higher yields on client deposits while maintaining competitive rates on margin lending. Wealth management fees are earned through distribution of third-party financial products including mutual funds, structured products, bonds, and money market funds. The company receives distribution fees and management commissions from product providers, creating a recurring revenue stream that grows with client asset accumulation. Factors that positively impact margins include rising interest rates (increasing spread income), growing client assets under management, higher trading volumes during market volatility, and successful cross-selling of wealth management products. Market downturns and reduced trading activity can pressure commission revenues, while falling interest rates compress net interest margins. Competitive pressure in commission pricing and increased client acquisition costs can also impact profitability. The company's paying customers are primarily retail investors seeking access to global markets, ranging from active day traders to long-term wealth accumulation clients. The target demographic includes tech-savvy individuals, particularly in Asia-Pacific markets, who value digital-first experiences and comprehensive market access.
Competitive moat
Futu's competitive moat is moderate but growing, built primarily around network effects, regulatory barriers, and technological capabilities. The company's strongest defensive position comes from its regulatory licenses across multiple jurisdictions, which create significant barriers to entry for new competitors. Obtaining brokerage licenses in markets like Hong Kong, Singapore, and Japan requires substantial capital, regulatory expertise, and time investment. The platform benefits from network effects through its social trading community features, where user-generated content, market discussions, and shared insights create value that increases with user participation. The NiuNiu Community and integrated social features differentiate Futu from traditional brokers by combining trading with social interaction and education. Technological infrastructure represents another competitive advantage, with the company's proprietary trading platforms offering advanced features, real-time data, and multi-market access through unified interfaces. The substantial investment in mobile-first design and user experience creates switching costs for clients who become accustomed to the platform's functionality. However, Futu faces significant competitive threats from established financial institutions, other fintech brokers, and potential big tech entrants. Traditional banks with existing client relationships and deeper capital resources pose ongoing challenges, while other digital brokers like Interactive Brokers and regional competitors offer similar services. The commoditization of basic brokerage services and ongoing commission compression across the industry limit pricing power. The company's international expansion strategy, while creating growth opportunities, also exposes it to regulatory risks and local competition in each new market. The relatively young age of the platform compared to established brokers means client relationships are still developing, and the company must continue investing heavily in client acquisition and retention.
Risks & safety
Futu demonstrates strong financial stability with solid cash generation and manageable debt levels, though the business model creates unique balance sheet characteristics typical of financial services companies. • Cash and liquidity: HK$1.5 billion in cash and short-term investments as of Q4 2024, with strong operating cash flow of HK$4.0 billion for FY 2024 • Debt levels: Debt-to-equity ratio of 0.31, indicating moderate leverage primarily related to client margin financing operations • Current ratio: 1.19, reflecting the nature of brokerage operations where client assets and liabilities dominate the balance sheet • Profitability metrics: Strong ROE of 19.4% for FY 2024, demonstrating efficient capital utilization • Valuation: Trading at P/E ratio of 16.0x and EV/EBITDA of 12.3x, representing reasonable valuations for a growing fintech company • Regulatory capital: Maintains regulatory capital requirements across all operating jurisdictions, with strong capital adequacy ratios
Recent development
Over the past few years, Futu has executed an aggressive international expansion strategy while simultaneously deepening its product offerings and technological capabilities. The company successfully launched operations in Malaysia in 2023 and Japan in 2024, with Malaysia achieving over 100,000 registered clients within six weeks of launch. The Japan market expansion included the introduction of local equity trading, NISA savings accounts, and mutual fund offerings tailored to Japanese investors. Product innovation has been a key focus, with the company launching 209 mobile and desktop application iterations in 2024 alone, adding 7,762 new features. Major product launches include cryptocurrency trading in Hong Kong and Singapore, U.S. margin trading in Japan, options trading capabilities across multiple markets, and the introduction of fractional share trading. The company also established bond trading desks in Hong Kong and Singapore, expanding its fixed-income capabilities. Wealth management expansion represents a strategic pivot toward higher-margin, stickier revenue streams. Wealth management assets grew 93% year-over-year to HK$111 billion, now representing 15% of total client assets. The company launched ETF-based robo-advisory services and expanded its structured product offerings, positioning itself as a comprehensive wealth management platform rather than just a trading broker. The company has also invested heavily in artificial intelligence integration, exploring AI applications for market analysis, content generation, and client service enhancement. While still in early stages, management views AI as a potential differentiator for improving user experience and operational efficiency. Enterprise services growth has been notable, with Futu ranking first in Hong Kong IPO distributions and expanding its corporate client base for ESOP and investor relations services. This B2B component provides additional revenue diversification and strengthens relationships with institutional clients.
FUTU company profile · for informational purposes only — not investment advice.
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