Futu Holdings Limited (FUTU) Key Metrics
FUTU key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Hong Kong dollarsFUTU returns How much profit the business earns on the capital it uses.
FUTU financial health Debt, liquidity and how easily interest is covered.
FUTU efficiency & capital use Working capital cycle and where the cash goes.
FUTU returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FUTU debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FUTU cash returned to shareholders
FUTU key metrics in Hong Kong dollars
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 33.3% | 20.7% | 18.8% | 14.0% | 19.2% | 24.4% | 9.1% | 31.9% | — | −142.2% |
| Return on invested capital (ROIC) | — | 25.2% | 21.3% | 11.4% | 9.3% | 6.3% | 1.6% | 7.7% | 0.6% | −115.8% |
| Return on assets (ROA) | 5.8% | 4.3% | 4.5% | 3.0% | 3.3% | 2.9% | 0.9% | 1.0% | −0.1% | −4.4% |
| Return on tangible assets | 5.0% | 3.4% | 4.4% | 3.1% | 2.8% | 1.9% | 0.8% | 0.9% | −0.1% | −2.2% |
| Free cash flow margin | 178.6% | 226.8% | −64.1% | 44.4% | 83.5% | 616.5% | 174.4% | 548.6% | 592.9% | — |
| Income quality (OCF / net income) | 3.60 | 5.69 | −1.48 | 1.19 | 2.14 | 15.43 | 11.89 | 32.27 | — | — |
| Financial health | ||||||||||
| Total debt | HK$17.68B | HK$8.55B | HK$5.89B | HK$2.69B | HK$21.91B | HK$16.61B | HK$16.92B | HK$1.58B | HK$1.94B | HK$193.2M |
| Cash & short-term investments | HK$130.54B | HK$14.42B | HK$8.19B | HK$5.74B | HK$5.83B | HK$1.33B | HK$456.3M | HK$275.0M | HK$375.3M | HK$181.3M |
| Net debt | −HK$112.86B | −HK$5.87B | −HK$2.30B | −HK$3.05B | HK$16.08B | HK$15.28B | HK$16.47B | HK$1.30B | HK$1.57B | HK$12.0M |
| Debt / equity | 0.44 | 0.31 | 0.24 | 0.13 | 1.04 | 2.00 | 6.64 | 1.43 | — | 1.39 |
| Debt / assets | 0.08 | 0.05 | 0.06 | 0.03 | 0.22 | 0.23 | 0.79 | 0.10 | 0.18 | 0.04 |
| Net debt / EBITDA | −8.14 | −0.86 | −0.44 | −0.82 | 4.87 | 9.87 | 64.81 | 5.99 | 124.42 | — |
| Current ratio | 9.15 | 1.19 | 1.32 | 0.58 | 0.55 | 1.13 | 0.13 | 1.10 | 1.08 | 1.03 |
| Quick ratio | 9.15 | 1.19 | 0.70 | 1.78 | 1.69 | 1.13 | 0.13 | 1.10 | 1.08 | 1.03 |
| Interest coverage | — | — | — | 12.2 | 8.4 | 7.9 | 2.1 | 2.2 | 0.4 | -32.0 |
| Working capital | HK$140.93B | HK$25.27B | HK$23.00B | −HK$30.42B | −HK$37.37B | HK$7.98B | −HK$14.67B | HK$1.44B | HK$847.2M | HK$128.8M |
| Invested capital | −HK$72.87B | HK$22.14B | HK$22.27B | HK$17.81B | HK$37.07B | HK$23.58B | HK$19.01B | HK$2.40B | HK$1.33B | HK$150.9M |
| Tangible asset value | HK$40.10B | HK$27.92B | HK$24.50B | HK$20.81B | HK$20.97B | HK$8.30B | HK$2.54B | HK$1.10B | −HK$234.2M | −HK$191.7M |
| Net current asset value | −HK$29.88B | HK$25.13B | HK$22.86B | −HK$31.29B | −HK$34.62B | HK$7.81B | −HK$16.60B | HK$1.03B | −HK$336.3M | −HK$232.4M |
| Capital allocation | ||||||||||
| Dividends paid | HK$2.15B | HK$0 | HK$0 | — | HK$53.51B | — | HK$0 | HK$0 | HK$0 | HK$0 |
| Share buybacks (net) | HK$0 | HK$0 | HK$874.7M | HK$3.15B | HK$1.18B | HK$0 | HK$0 | HK$0 | HK$0 | HK$0 |
| Dividend payout ratio | 19.0% | 0.0% | 0.0% | — | — | — | 0.0% | 0.0% | — | — |
| Dividends + buybacks / free cash flow | 5.3% | 0.0% | — | 92.9% | 920.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / revenue | 0.2% | 1.2% | 0.8% | 1.2% | 1.0% | 1.3% | 11.1% | 2.3% | 2.4% | 4.6% |
| Capex / operating cash flow | 0.1% | 0.5% | — | 2.6% | 1.2% | 0.2% | 6.0% | 0.4% | 0.4% | 0.3% |
| Capex / depreciation | 0.25 | 0.95 | 0.45 | 0.60 | 0.59 | 0.56 | 1.79 | 2.26 | 1.72 | 1.13 |
| Stock-based compensation / revenue | 1.5% | 2.5% | 2.9% | 2.7% | 1.4% | 1.0% | 1.5% | 1.3% | 3.1% | 10.5% |
| R&D / revenue | 8.4% | 11.0% | 14.4% | 16.1% | 11.3% | 15.5% | 24.7% | 18.6% | 30.7% | 70.8% |
| SG&A / revenue | 17.2% | 22.3% | 20.2% | 24.0% | 27.0% | 19.1% | 31.0% | 24.9% | 31.7% | 104.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 802.4 | 1,548.0 | 1,443.8 | 1,834.6 | 1,716.9 | 1,581.8 | 971.8 | 1,601.1 | 2,459.3 | 1,973.3 |
| Days of inventory on hand | — | — | -5,091.6 | -33,405.9 | -14,382.5 | -18.5 | — | — | — | — |
| Days payables outstanding | 17,595.1 | 13,569.5 | 15,898.8 | 24,984.0 | 17,892.8 | 17,825.7 | 19,533.5 | 15,781.5 | 20,922.1 | 16,813.8 |
| Cash conversion cycle (days) | -16,792.7 | -12,021.4 | -19,546.5 | -56,555.4 | -30,558.5 | -16,262.3 | -18,561.7 | -14,180.5 | -18,462.8 | -14,840.5 |
| Receivables turnover | 0.45 | 0.24 | 0.25 | 0.20 | 0.21 | 0.23 | 0.38 | 0.23 | 0.15 | 0.18 |
| Payables turnover | 0.02 | 0.03 | 0.02 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| Asset turnover | 0.12 | 0.11 | 0.10 | 0.08 | 0.08 | 0.07 | 0.06 | 0.06 | 0.04 | 0.04 |
| Average receivables | HK$50.14B | HK$57.64B | HK$39.59B | HK$38.27B | HK$33.47B | HK$14.35B | HK$2.83B | HK$3.56B | HK$2.10B | HK$470.4M |
| Average payables | HK$141.60B | HK$90.91B | HK$66.92B | HK$68.18B | HK$59.12B | HK$33.99B | HK$15.08B | HK$10.79B | HK$6.25B | HK$2.08B |
| Average inventory | — | — | −HK$21.43B | −HK$91.17B | −HK$47.52B | −HK$35.2M | HK$0 | HK$0 | HK$0 | HK$0 |
| Intangibles / total assets | 0.1% | 0.1% | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from FUTU's annual financial statements (latest annual report filed April 15, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Hong Kong dollars; data from EODHD. Averages use the opening and closing balance of each year.
FUTU valuation and financial ratios
Futu earned a return on equity of 33.3% in fiscal 2025. It ended the year with HK$17.7 billion of debt and HK$130.5 billion in cash and short-term investments, a net cash position of HK$112.9 billion. It returned HK$2.2 billion to shareholders: HK$2.2 billion in dividends and HK$0 in share buybacks, 5% of free cash flow.
See the FUTU income statement, the FUTU chart for price history, or the FUTU stock overview for the latest quote and news.
FUTU key metrics FAQ
What is Futu's return on equity?
Futu's return on equity (ROE) was 33.3% in fiscal 2025: net income of HK$11.3 billion on average shareholders' equity of HK$34.0 billion.
How much debt does Futu have?
Futu had total debt of HK$17.7 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.44 and more cash than debt.
What is Futu's current ratio?
Futu's current ratio was 9.15 at the end of fiscal 2025: current assets were 9.15 times current liabilities.