Futu Holdings - Public Comps and Valuation Multiples

Futu Holdings Overview

About Futu Holdings

Futu Holdings Ltd is an online broker providing one-stop online investing services. The company provides its services through its digital platform Futu NiuNiu, which includes market data, trading service, and news feed of Hong Kong, Mainland China, Singapore, and the United States equity markets. It generates its revenue in the form of brokerage commission and handling charge services, and interest income.

Founded

2014

HQ

Employees

3.3K+

Website

futuholdings.com

Sectors

Investment Brokerage
Electronic Trading
Wealth Solutions
WealthTech
FinTech

Financials

LTM Revenue $305M

LTM EBITDA $174M

EV

$22.8B

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Futu Holdings Financials

As of September 2025, Futu Holdings reported last 12-month revenue of $305M and EBITDA of $174M.

In the same period, Futu Holdings generated $252M in LTM gross profit and $141M in net income.

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Futu Holdings P&L

In the most recent fiscal year, Futu Holdings reported revenue of $13.6B and EBITDA of $6.8B.

Futu Holdings expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$305M	XXX	$13.6B	XXX	XXX	XXX
Gross Profit	$252M	XXX	$11.1B	XXX	XXX	XXX
Gross Margin	83%	XXX	82%	XXX	XXX	XXX
EBITDA	$174M	XXX	$6.8B	XXX	XXX	XXX
EBITDA Margin	57%	XXX	50%	XXX	XXX	XXX
EBIT	$173M	XXX	$6.6B	XXX	XXX	XXX
EBIT Margin	57%	XXX	49%	XXX	XXX	XXX
Net Profit	$141M	XXX	$5.4B	XXX	XXX	XXX
Net Margin	46%	XXX	40%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Futu Holdings including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $305M. EBITDA for the last twelve months was $174M. In the most recent fiscal year, Futu Holdings achieved $13.6B in revenue and $6.8B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$305M	Analyst estimates available to subscribers	$13.6B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$252M	Analyst estimates available to subscribers	$11.1B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	82.7% gross margin	Analyst estimates available to subscribers	82.0% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$174M	Analyst estimates available to subscribers	$6.8B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	57.1% EBITDA margin	Analyst estimates available to subscribers	50.0% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$173M	Analyst estimates available to subscribers	$6.6B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	56.8% EBIT margin	Analyst estimates available to subscribers	48.7% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$141M	Analyst estimates available to subscribers	$5.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	46.3% net profit margin	Analyst estimates available to subscribers	40.1% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Futu Holdings

This financial data table provides comprehensive performance metrics for Futu Holdings, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Futu Holdings generated $305M in revenue over the last twelve months.
The company achieved $174M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $252M.
Net income over the last twelve months reached $141M.

Fiscal Year Performance

In the most recent fiscal year, Futu Holdings reported $13.6B in total revenue.
Fiscal year EBITDA was $6.8B.
The company maintained a gross profit margin of 82.0% in the most recent fiscal year.
EBITDA margin for the fiscal year was 50.0%.
Net profit margin reached 40.1% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Futu Holdings. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Futu Holdings Stock Performance

Futu Holdings has current market cap of $22.8B, and EV of $22.8B.

Market Cap Evolution

Futu Holdings Stock Data

As of October 17, 2025, Futu Holdings's stock price is $164.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$22.8B	$22.8B	XXX	XXX	XXX	XXX	$8.01

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Futu Holdings Valuation Multiples

Futu Holdings's trades at 1.7x EV/Revenue multiple, and 3.4x EV/EBITDA.

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Futu Holdings Financial Valuation Multiples

As of October 17, 2025, Futu Holdings has market cap of $22.8B and EV of $22.8B.

Equity research analysts estimate Futu Holdings's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Futu Holdings has a P/E ratio of 20.7x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$22.8B	XXX	$22.8B	XXX	XXX	XXX
EV (current)	$22.8B	XXX	$22.8B	XXX	XXX	XXX
EV/Revenue	9.6x	XXX	1.7x	XXX	XXX	XXX
EV/EBITDA	16.8x	XXX	3.4x	XXX	XXX	XXX
EV/EBIT	16.9x	XXX	3.4x	XXX	XXX	XXX
EV/Gross Profit	11.6x	XXX	n/a	XXX	XXX	XXX
P/E	20.7x	XXX	4.2x	XXX	XXX	XXX
EV/FCF	81.6x	XXX	0.7x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Futu Holdings Margins & Growth Rates

Futu Holdings's last 12 month revenue growth is 17%

Futu Holdings's revenue per employee in the last FY averaged $4.1M, while opex per employee averaged $1.4M for the same period.

Futu Holdings's rule of 40 is 68% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Futu Holdings's rule of X is 99% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Futu Holdings Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	17%	XXX	-54%	XXX	XXX	XXX
EBITDA Margin	57%	XXX	50%	XXX	XXX	XXX
EBITDA Growth	19%	XXX	-46%	XXX	XXX	XXX
Rule of 40	68%	XXX	67%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	99%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$4.1M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$1.4M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	10%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	11%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	33%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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