TOP Financial Group Limited (TOP) Key Metrics
TOP valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.66B
- Enterprise value
- $1.90B
- P/E (TTM)
- —
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 371.6
- Price / book
- 52.1
- EV / EBITDA
- 12.0
- Dividend yield
- —
- Beta
- −0.93
TOP key metrics, FY2019–FY2026
Fiscal year ended March 31, 2026 · U.S. dollarsTOP returns How much profit the business earns on the capital it uses.
TOP financial health Debt, liquidity and how easily interest is covered.
TOP efficiency & capital use Working capital cycle and where the cash goes.
TOP returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TOP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TOP cash returned to shareholders
TOP key metrics
FY2019–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||
| Share price at fiscal year-end | $4.14 | $6.20 | $13.35 | $28.00 | — | — | — | — |
| Returns & profitability | ||||||||
| Return on equity (ROE) | −3.4% | −15.8% | 2.7% | 14.7% | 41.2% | 76.5% | 46.4% | 28.5% |
| Return on invested capital (ROIC) | −2.3% | −23.4% | 5.7% | 27.9% | 113.8% | 215.3% | 97.4% | 53.0% |
| Return on assets (ROA) | −1.8% | −11.4% | 2.1% | 12.5% | 28.9% | 42.8% | 19.3% | 9.8% |
| Return on tangible assets | −1.4% | −12.8% | 1.8% | 8.4% | 25.3% | 49.5% | 19.2% | 9.9% |
| Free cash flow margin | 277.8% | −434.8% | 220.9% | −63.1% | 15.0% | 25.5% | −5.7% | 34.1% |
| Income quality (OCF / net income) | — | — | 16.89 | −1.78 | 0.45 | 0.86 | −0.37 | 2.87 |
| Financial health | ||||||||
| Total debt | $2.9M | $270,866 | $64,826 | $150,139 | $244,861 | — | — | — |
| Cash & short-term investments | $13.0M | $12.2M | $25.9M | $16.0M | $6.2M | $4.9M | $3.6M | $2.1M |
| Net debt | −$10.1M | −$12.0M | −$25.9M | −$15.8M | −$6.0M | −$4.9M | −$3.6M | −$2.1M |
| Debt / equity | 0.08 | 0.01 | 0.00 | 0.00 | 0.02 | — | — | — |
| Debt / assets | 0.03 | 0.01 | 0.00 | 0.00 | 0.02 | — | — | — |
| Net debt / EBITDA | — | — | −22.83 | −4.46 | −1.63 | −0.95 | −1.39 | −0.11 |
| Current ratio | 1.57 | 3.44 | 4.81 | 8.32 | 3.36 | 2.72 | 1.88 | 12.42 |
| Quick ratio | 1.57 | 3.44 | −1.26 | −0.68 | −0.51 | −0.56 | −0.18 | 12.42 |
| Working capital | $28.4M | $28.4M | $41.6M | $31.0M | $8.1M | $6.0M | $6.0M | $1.9M |
| Invested capital | $23.8M | $22.9M | $14.7M | $20.1M | $4.2M | $1.9M | $2.8M | $2.4M |
| Tangible asset value | $34.2M | $34.8M | $40.5M | $35.9M | $10.1M | $6.7M | $6.4M | $12.8M |
| Net current asset value | $26.1M | $28.1M | $35.4M | $30.9M | $7.9M | $6.0M | $6.0M | $1.9M |
| Capital allocation | ||||||||
| Dividends paid | — | — | — | $0 | $0 | $5.2M | $5.2M | $5.2M |
| Share buybacks (net) | — | — | — | $150,000 | — | — | — | — |
| Dividend payout ratio | — | — | — | 0.0% | 0.0% | 103.1% | 204.9% | 404.9% |
| Dividends + buybacks / free cash flow | — | — | — | — | 0.0% | 120.5% | — | 141.3% |
| Capex / revenue | 19.0% | 0.1% | 0.1% | 0.9% | 5.3% | 0.1% | 0.1% | 0.1% |
| Capex / operating cash flow | 6.4% | — | 0.0% | — | 26.1% | 0.4% | — | 0.3% |
| Capex / depreciation | 1.95 | 0.02 | 0.04 | 0.71 | 6.41 | 1.23 | 0.91 | 0.27 |
| Stock-based compensation / revenue | 1.3% | 2.2% | 0.6% | 0.5% | 0.0% | 0.0% | — | — |
| SG&A / revenue | 14.9% | 87.6% | 38.2% | 25.1% | 12.1% | 4.9% | 4.7% | 9.2% |
| Efficiency | ||||||||
| Days sales outstanding | 2,743.6 | 2,117.1 | 707.9 | 395.1 | 147.5 | 115.8 | 132.4 | 133.8 |
| Days of inventory on hand | — | — | 5,167.8 | 2,451.6 | 1,378.0 | 426.9 | 392.0 | — |
| Days payables outstanding | 4,813.9 | 1,256.9 | 683.3 | 326.7 | 364.5 | 156.6 | 197.4 | — |
| Cash conversion cycle (days) | -2,070.3 | 860.1 | 5,192.4 | 2,520.0 | 1,161.0 | 386.1 | 327.1 | — |
| Receivables turnover | 0.13 | 0.17 | 0.52 | 0.92 | 2.47 | 3.15 | 2.76 | 2.73 |
| Payables turnover | 0.08 | 0.29 | 0.53 | 1.12 | 1.00 | 2.33 | 1.85 | 0.00 |
| Inventory turnover | — | — | 0.07 | 0.15 | 0.26 | 0.85 | 0.93 | — |
| Asset turnover | 0.07 | 0.06 | 0.16 | 0.36 | 0.65 | 1.44 | 1.25 | 0.83 |
| Average receivables | $35.5M | $19.3M | $15.6M | $10.5M | $3.2M | $5.4M | $6.0M | $4.0M |
| Average payables | $29.9M | $10.6M | $6.9M | $3.4M | $3.3M | $4.7M | $7.1M | $8.1M |
| Average inventory | — | — | $52.2M | $25.7M | $12.4M | $12.8M | $14.1M | — |
| Intangibles / total assets | 0.1% | 0.1% | 0.1% | 0.2% | 0.5% | 0.6% | 0.5% | 0.5% |
Computed from TOP's annual financial statements (latest annual report filed July 7, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TOP valuation and financial ratios
TOP Financial earned a return on equity of −3.4% and a return on invested capital of −2.3% in fiscal 2026. It ended the year with $2.9 million of debt and $13.0 million in cash and short-term investments, a net cash position of $10.1 million.
See the TOP income statement, the TOP chart for price history, or the TOP stock overview for the latest quote and news.
TOP key metrics FAQ
What is TOP Financial's return on equity?
TOP Financial's return on equity (ROE) was −3.4% in fiscal 2026: net income of -$1.2 million on average shareholders' equity of $34.4 million.
What is TOP Financial's ROIC?
TOP Financial's return on invested capital was −2.3% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does TOP Financial have?
TOP Financial had total debt of $2.9 million at the end of fiscal 2026, a debt-to-equity ratio of 0.08 and more cash than debt.
What is TOP Financial's current ratio?
TOP Financial's current ratio was 1.57 at the end of fiscal 2026: current assets were 1.57 times current liabilities.