Futu Holdings Ltd key statistics and ratios

In fiscal 2025, Futu Holdings Ltd had return on equity of 33.3%, an operating margin of 61.6%, debt equal to 0.0% of equity and a current ratio of 1.19. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Futu Holdings Ltd: financial ratios, annual
Fiscal year	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	65.0%	69.2%	73.5%	79.0%	83.0%	86.9%	84.7%	82.0%	87.1%
Operating margin	1.1%	24.7%	16.8%	43.8%	44.7%	46.9%	50.0%	48.7%	61.6%
Net margin	−2.6%	17.1%	15.6%	40.0%	39.5%	38.4%	42.8%	40.1%	49.6%
Free-cash-flow margin	592.9%	548.6%	174.4%	616.5%	83.5%	44.4%	−64.1%	226.8%	178.3%
Return on equity	—	—	13.7%	24.4%	19.2%	13.9%	18.8%	20.7%	33.3%
Return on assets	—	0.9%	0.9%	2.9%	3.3%	3.0%	4.5%	4.2%	5.8%
Asset turnover	—	0.05	0.06	0.07	0.08	0.08	0.10	0.11	0.12
Current ratio	—	—	—	1.13	1.25	1.27	1.32	1.19	1.19
Debt to equity	—	—	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Interest cover (operating income ÷ interest)	0.2x	2.1x	2.0x	7.8x	8.4x	12.2x	5.5x	—	—
Effective tax rate	—	31.0%	6.9%	8.6%	11.8%	12.3%	14.8%	15.3%	17.2%
R&D as % of revenue	30.7%	18.6%	24.7%	15.5%	11.3%	16.1%	14.4%	11.0%	8.4%
Capital spending as % of revenue	2.4%	2.3%	11.1%	1.3%	1.0%	1.2%	0.8%	1.2%	0.2%
Free cash flow ÷ net income	—	>999%	>999%	>999%	211.4%	115.6%	−149.8%	566.4%	359.3%
Dividends ÷ net income	—	—	—	—	—	—	—	—	19.0%
Dividends and buybacks ÷ free cash flow	—	—	—	—	19.8%	93.0%	—	—	5.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Futu Holdings Ltd's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Futu Holdings Ltd.