UP Fintech Holding Ltd
TIGR Nasdaq Security Brokers, Dealers & Flotation Companies Financials FY2017–FY2025
Last close · Oct 23, 2026
$4.04
0.5%
Revenue
Total sales reported in the income statement.
$612M
56.3%
vs prior year
Operating margin
Operating income as a share of revenue.
—
Net income
Profit after all expenses, interest and tax.
$171M
179.5%
Free cash flow
Cash from operations minus capital spending.
$1.3B
58.7%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
$756M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
4.3x
On $0.93 EPS (TTM)
What UP Fintech Holding Ltd does
No business description yet.
- Legal name
- UP Fintech Holding Ltd
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 24, 2026
- Accession · CIK
- 0001193125-26-174855
0001756699
Revenue and margins
UP Fintech Holding Ltd had $612M of revenue in fiscal 2025, up 56.3% on the year before.
FY17
Revenue $16.9M
FY18
Revenue $33.6M
FY19
Revenue $58.7M
FY20
Revenue $138M
FY21
Revenue $264M
FY22
Revenue $225M
FY23
Revenue $273M
FY24
Revenue $392M
FY25
Revenue $612M
FY17
Gross —
Operating —
Net −44.3%
FCF −53.7%
FY18
Gross —
Operating —
Net −128.7%
FCF −68.1%
FY19
Gross —
Operating —
Net −11.2%
FCF 412.5%
FY20
Gross —
Operating —
Net 13.8%
FCF 385.8%
FY21
Gross —
Operating —
Net 5.6%
FCF 154.3%
FY22
Gross —
Operating —
Net −1.0%
FCF 112.3%
FY23
Gross —
Operating —
Net 12.1%
FCF −3.4%
FY24
Gross —
Operating —
Net 15.7%
FCF 211.1%
FY25
Gross —
Operating —
Net 28.0%
FCF 214.2%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY17
Net income −$7.5M
FY18
Net income −$43.2M
FY19
Net income −$6.6M
FY20
Net income $19.2M
FY21
Net income $14.7M
FY22
Net income −$2.3M
FY23
Net income $33.0M
FY24
Net income $61.4M
FY25
Net income $171M
FY17
Diluted EPS −$0.30
FY18
Diluted EPS −$1.35
FY19
Diluted EPS $0.00
FY20
Diluted EPS $0.15
FY21
Diluted EPS $0.15
FY22
Diluted EPS $0.00
FY23
Diluted EPS $0.21
FY24
Diluted EPS $0.36
FY25
Diluted EPS $0.93
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY17
Return on capital —
Return on equity —
Return on assets —
FY18
Return on capital —
Return on equity —
Return on assets −37.5%
FY19
Return on capital —
Return on equity −7.0%
Return on assets −1.4%
FY20
Return on capital —
Return on equity 8.6%
Return on assets 1.3%
FY21
Return on capital —
Return on equity 4.3%
Return on assets 0.5%
FY22
Return on capital —
Return on equity −0.5%
Return on assets −0.1%
FY23
Return on capital —
Return on equity 7.1%
Return on assets 0.9%
FY24
Return on capital —
Return on equity 10.7%
Return on assets 1.2%
FY25
Return on capital —
Return on equity 22.6%
Return on assets 2.3%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $1.3B in fiscal 2025, 214.2% of revenue. Cash from operations minus capital spending.
FY17
Free cash flow −$9.1M
FY18
Free cash flow −$22.9M
FY19
Free cash flow $242M
FY20
Free cash flow $534M
FY21
Free cash flow $408M
FY22
Free cash flow $253M
FY23
Free cash flow −$9.3M
FY24
Free cash flow $826M
FY25
Free cash flow $1.3B
FY17
Cash from operations −$8.5M
Capital spending $0.6M
FY18
Cash from operations −$21.2M
Capital spending $1.7M
FY19
Cash from operations $243M
Capital spending $1.3M
FY20
Cash from operations $535M
Capital spending $1.0M
FY21
Cash from operations $413M
Capital spending $5.0M
FY22
Cash from operations $258M
Capital spending $4.9M
FY23
Cash from operations −$6.6M
Capital spending $2.8M
FY24
Cash from operations $828M
Capital spending $1.6M
FY25
Cash from operations $1.3B
Capital spending $5.5M
Cash from operations
Capital spending
Dividends, buybacks and share count
UP Fintech Holding Ltd returned — to shareholders in fiscal 2025. The diluted share count rose 10.8%.
FY17
Dividends —
Buybacks —
FY18
Dividends —
Buybacks —
FY19
Dividends —
Buybacks —
FY20
Dividends —
Buybacks $2.2M
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY17
Diluted shares 0.03B
FY18
Diluted shares 0.03B
FY19
Diluted shares 0.12B
FY20
Diluted shares 0.14B
FY21
Diluted shares 0.16B
FY22
Diluted shares 0.15B
FY23
Diluted shares 0.16B
FY24
Diluted shares 0.17B
FY25
Diluted shares 0.19B
Balance sheet
Cash, debt and the ratios that show how comfortably UP Fintech Holding Ltd can carry it.
FY17
Cash $18.1M
Debt —
FY18
Cash $34.4M
Debt —
FY19
Cash $59.4M
Debt —
FY20
Cash $79.7M
Debt —
FY21
Cash $269M
Debt —
FY22
Cash $278M
Debt —
FY23
Cash $323M
Debt —
FY24
Cash $394M
Debt —
FY25
Cash $791M
Debt —
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $269M | $278M | $323M | $394M | $791M |
| Current ratio | 1.2x | 1.2x | 1.2x | 1.1x | 1.1x |
| Quick ratio | 1.2x | 1.2x | 1.2x | 1.1x | 1.1x |
| Total assets | $3.3B | $3.8B | $3.7B | $6.4B | $8.2B |
| Total liabilities | $2.9B | $3.3B | $3.3B | $5.7B | $7.4B |
| Shareholders' equity | $447M | $447M | $489M | $655M | $866M |
| Net debt (− = net cash) | — | — | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✕ | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✕ | ✕ | ✓ | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ |
| Return on assets rose | — | — | ✓ | ✓ | ✕ | ✕ | ✓ | ✓ | ✓ |
| Cash from operations exceeds net income | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ |
| Debt fell relative to assets | — | — | — | — | — | — | — | — | — |
| Current ratio rose | — | — | ✕ | ✕ | ✓ | ✕ | ✓ | ✕ | ✕ |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ | ✓ | ✕ | ✕ | ✕ |
| Gross margin rose | — | — | — | — | — | — | — | — | — |
| Revenue rose relative to assets | — | — | ✕ | ✕ | ✓ | ✕ | ✓ | ✕ | ✓ |
| F-score | — / 3 | — / 4 | 3 / 7 | 4 / 7 | 5 / 7 | 3 / 7 | 4 / 7 | 4 / 7 | 5 / 7 |
| Accruals ratio | — | −19.1% | −54.1% | −34.4% | −14.5% | −7.3% | 1.0% | −15.1% | −15.7% |
| Altman Z'' | — | — | — | — | — | — | — | — | — |
9 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||
| Revenue | $16.9M | $33.6M | $58.7M | $138M | $264M | $225M | $273M | $392M | $612M |
| Research and development | $6.1M | $11.3M | $18.0M | $22.5M | $47.8M | $60.1M | $63.5M | $80.1M | $100M |
| Interest expense | — | — | $4.1M | $10.1M | $18.4M | $18.7M | $47.0M | $60.8M | $73.4M |
| Pretax income | −$9.1M | −$46.2M | −$9.3M | $22.0M | $19.1M | $2.0M | $46.0M | $81.8M | $207M |
| Income tax | −$1.2M | −$1.9M | −$3.4M | $2.9M | $4.4M | $4.3M | $13.0M | $20.4M | $36.0M |
| Net income | −$7.5M | −$43.2M | −$6.6M | $19.2M | $14.7M | −$2.3M | $33.0M | $61.4M | $171M |
| Net income to common | −$7.5M | −$43.2M | −$6.6M | $16.1M | $14.7M | −$2.2M | $32.6M | $60.7M | $171M |
| Diluted EPS | −$0.30 | −$1.35 | $0.00 | $0.15 | $0.15 | $0.00 | $0.21 | $0.36 | $0.93 |
| Diluted shares | 0.03B | 0.03B | 0.12B | 0.14B | 0.16B | 0.15B | 0.16B | 0.17B | 0.19B |
| Cash flow | |||||||||
| Cash from operations | −$8.5M | −$21.2M | $243M | $535M | $413M | $258M | −$6.6M | $828M | $1.3B |
| Capital expenditure | $0.6M | $1.7M | $1.3M | $1.0M | $5.0M | $4.9M | $2.8M | $1.6M | $5.5M |
| Free cash flow | −$9.1M | −$22.9M | $242M | $534M | $408M | $253M | −$9.3M | $826M | $1.3B |
| Depreciation and amortization | $0.3M | $0.5M | $0.8M | $0.9M | $1.3M | $2.7M | $2.8M | $2.6M | $2.9M |
| Stock-based compensation | $0.3M | $34.2M | $4.1M | $6.1M | $13.4M | $14.2M | $10.1M | $9.7M | $15.6M |
| Acquisitions | — | — | $6.0M | — | −$2.6M | — | — | — | — |
| Share buybacks | — | — | — | $2.2M | — | — | — | — | — |
| Dividends and buybacks | — | — | — | $2.2M | — | — | — | — | — |
| Balance sheet | |||||||||
| Cash and short-term investments | $18.1M | $34.4M | $59.4M | $79.7M | $269M | $278M | $323M | $394M | $791M |
| Current assets | — | $103M | $770M | $2.2B | $3.3B | $3.7B | $3.7B | $6.3B | $8.2B |
| Current liabilities | — | $17.0M | $588M | $2.0B | $2.7B | $3.2B | $3.1B | $5.6B | $7.3B |
| Property and equipment, net | — | $1.3M | $1.5M | $1.6M | $5.1M | $6.3M | $5.2M | $4.2M | $5.8M |
| Goodwill | — | — | $2.4M | $2.4M | $2.5M | $2.5M | $2.5M | $2.5M | $2.5M |
| Intangible assets | — | — | — | — | $0.1M | $0.1M | $0.0M | $0.0M | $0.0M |
| Total assets | — | $115M | $809M | $2.2B | $3.3B | $3.8B | $3.7B | $6.4B | $8.2B |
| Total liabilities | — | $17.0M | $594M | $2.0B | $2.9B | $3.3B | $3.3B | $5.7B | $7.4B |
| Shareholders' equity | −$15.3M | −$24.4M | $212M | $236M | $447M | $447M | $489M | $655M | $866M |
| Margins | |||||||||
| Net margin | −44.3% | −128.7% | −11.2% | 13.8% | 5.6% | −1.0% | 12.1% | 15.7% | 28.0% |
| FCF margin | −53.7% | −68.1% | 412.5% | 385.8% | 154.3% | 112.3% | −3.4% | 211.1% | 214.2% |
| Returns | |||||||||
| Return on equity | — | — | −7.0% | 8.6% | 4.3% | −0.5% | 7.1% | 10.7% | 22.6% |
| Return on assets | — | −37.5% | −1.4% | 1.3% | 0.5% | −0.1% | 0.9% | 1.2% | 2.3% |
| Return on tangible equity | — | — | −3.1% | 6.9% | 3.3% | −0.5% | 6.7% | 9.3% | 19.8% |
| Growth | |||||||||
| Revenue growth | — | 98.0% | 74.8% | 136.1% | 91.0% | −14.8% | 20.9% | 43.7% | 56.3% |
| Net income growth | — | — | — | — | −23.4% | −115.4% | — | 85.9% | 179.5% |
| EPS growth | — | — | — | — | 0.0% | −100.0% | — | 71.4% | 158.3% |
| FCF growth | — | — | — | 120.8% | −23.6% | −38.0% | −103.7% | — | 58.7% |
| Share count change | — | 14.1% | 245.9% | 23.4% | 8.0% | −1.7% | 5.8% | 4.4% | 10.8% |
| Financial health | |||||||||
| Current ratio | — | 6.1x | 1.3x | 1.1x | 1.2x | 1.2x | 1.2x | 1.1x | 1.1x |
| Quick ratio | — | 6.1x | 1.3x | 1.1x | 1.2x | 1.2x | 1.2x | 1.1x | 1.1x |
| Capital allocation | |||||||||
| Capex / revenue | 3.5% | 5.0% | 2.2% | 0.7% | 1.9% | 2.2% | 1.0% | 0.4% | 0.9% |
| Stock comp / revenue | 2.1% | 101.9% | 6.9% | 4.4% | 5.1% | 6.3% | 3.7% | 2.5% | 2.6% |
| Payouts / FCF | — | — | — | 0.4% | — | — | — | — | — |
| Quality scores | |||||||||
| Piotroski F-score | — | — | 3.0 | 4.0 | 5.0 | 3.0 | 4.0 | 4.0 | 5.0 |
| Accruals ratio | — | −19.1% | −54.1% | −34.4% | −14.5% | −7.3% | 1.0% | −15.1% | −15.7% |
Source: SEC EDGAR XBRL filings (CIK 0001756699). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Per-share figures are per US-listed share (1 ADS = 15 ordinary shares). For information only — not investment advice. Check the original filings before relying on any figure.