TOP Financial Group Limited (TOP) AI Stock Analysis

TOP Financial Group Limited operates as an online brokerage firm based in Hong Kong, facilitating financial services through its subsidiaries. Established in 2015 and formerly known as Zhong Yang Financial Group Limited, the company rebranded in July 2022. The firm specializes in the trading of local and overseas equities, futures, and options, providing trade execution, account management, and customer support. It serves clients across asset classes including index futures, forex, agricultural products, energy commodities, and precious metals. It also provides stock and options brokerage, currency exchange, structured note subscriber services, and margin financing, while exploring business opportunities within digital assets and cryptocurrency.

Between FY2021 and FY2026, revenue declined at a five-year compound annual rate of -22.5%. Annual revenue decreased from $9.7M in FY2023 to $3.3M in FY2025 before increasing 41.9% to $4.7M in FY2026. Net income shifted from $3.5M in FY2022 and $3.4M in FY2023 to -$6.0M in FY2025 and -$1.2M in FY2026. Gross margin stood at 52.0% in FY2026, with an operating margin of -14.3%. Over the trailing twelve months, revenue reached $4.5M with an operating margin of -35.9%. For the quarter ended June 30, 2026, quarterly revenue fell 19.3% year-over-year, while quarterly earnings grew 89.7%.

As of June 30, 2026, TOP Financial Group held $13.0M in cash and short-term investments and total debt of $2.9M, leaving net cash of $10.1M. Total assets were $86.1M and shareholders' equity was $33.9M. The company reported a current ratio of 1.57 and a debt-to-equity ratio of 0.08. In FY2026, operating cash flow reached $14.0M, while capital expenditures were $899,500, resulting in free cash flow of $13.1M. Over the past five years, the company's share count increased 23.6%.

TOP Financial Group holds a market capitalization of $1.66B and an enterprise value of $1.90B. The stock trades at a price-to-sales multiple of 371.6x, compared to the median of 3.2x for its US-listed Financial Services peers. Its EV-to-EBITDA ratio is 12.0x, versus the peer median of 11.7x, while its price-to-book ratio is 52.1x. Over the past year, TOP shares gained 114.7%, outperforming the S&P 500 (SPY) return of 16.8%. Year-to-date, the stock is up 167.1%, and its closing price of $13.42 on October 16, 2026, sits 66.8% above its 200-day average.

Wall Street analyst ratings and price targets are not available for TOP Financial Group. The company's next earnings report is scheduled for November 16, 2026. Over the trailing twelve months, diluted earnings per share were -$0.18, alongside quarterly earnings growth of 89.7% for the period ended June 30, 2026. Institutional ownership is 0.0%, insider ownership is 17.1%, and short interest accounts for 0.1% of the float.

This page is an AI-written research summary of TOP Financial Group Limited (TOP). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: TOP income statement, TOP balance sheet, TOP key metrics, TOP chart. See the TOP stock overview for the latest quote and news.