UP Fintech Holding Ltd key statistics and ratios

In fiscal 2025, UP Fintech Holding Ltd had return on equity of 22.5%, a net margin of 27.9%, debt equal to 18.7% of equity and a current ratio of 1.12. 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.

UP Fintech Holding Ltd: financial ratios, annual
Fiscal year	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Net margin	−44.3%	−128.7%	−11.2%	11.6%	5.6%	−1.0%	11.9%	15.5%	27.9%
Free-cash-flow margin	−53.7%	−68.1%	412.5%	385.8%	154.3%	112.3%	−3.4%	211.1%	214.2%
Return on equity	—	—	−7.0%	7.2%	4.3%	−0.5%	7.0%	10.6%	22.5%
Return on assets	—	−37.5%	−1.4%	1.1%	0.5%	−0.1%	0.9%	1.2%	2.3%
Asset turnover	—	0.29	0.13	0.09	0.10	0.06	0.07	0.08	0.08
Current ratio	—	6.06	1.31	1.10	1.20	1.18	1.20	1.14	1.12
Debt to equity	—	—	0.0%	0.0%	0.0%	34.5%	32.1%	24.3%	18.7%
Effective tax rate	—	—	—	12.9%	22.9%	—	28.2%	25.0%	17.3%
R&D as % of revenue	35.8%	33.6%	30.7%	16.3%	18.1%	26.7%	23.3%	20.5%	16.3%
Capital spending as % of revenue	3.5%	5.0%	2.2%	0.7%	1.9%	2.2%	1.0%	0.4%	0.9%
Free cash flow ÷ net income	—	—	—	>999%	>999%	—	−28.7%	>999%	767.2%
Dividends and buybacks ÷ free cash flow	—	—	—	0.4%	—	—	—	—	—

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 UP Fintech Holding Ltd's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to UP Fintech Holding Ltd.