olivLaw · US equity research
Futu Holdings Limited FUTU
Security Brokers, Dealers & Flotation Companies · SIC 6211 · Vertical: Security Brokers, Dealers & Flotation Companies (SIC 6211)
Futu Holdings operates a digital financial platform offering securities brokerage and wealth management product distribution through its Futubull and Moomoo apps to investors across several markets. In 2025 the company reported total revenues of HK$22.8 billion, and it served approximately 29.2 million users.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Futu Holdings Limited (FUTU) stock was 97.92 USD (−4.57% on the day), with market capitalisation 0 USD, P/E 75.9 on diluted EPS of 1.29 USD over the last 12 months, beta 1.61, 52-week range 89.76–188.11 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 38.1
- weak (30–45)
- Bollinger (20, 2)
- 95.01 – 114.67
- in the lower half of the band · %B 0.15 · band width 18.8%
- SMA 50 / 200
- 110.52 / 124.35
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -2.81 / -2.58
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −10.7% | −1.1% | −9.6 pp | — |
| 3 months | −11.2% | −0.5% | −10.7 pp | — |
| 6 months | −41.7% | +4.4% | −46.1 pp | — |
| Year to date | −40.4% | +12.3% | −52.7 pp | — |
| 1 year | −45.5% | +13.5% | −59.0 pp | −11.1% |
| 3 years | +66.8% | +76.4% | −9.7 pp | +61.7% |
| 5 years | +73.3% | +63.7% | +9.7 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 7-quarter history (min 111.5, median 127.3, max 516.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | unavailable | 136.3 m | 427.0 m | 912.3 m | 976.0 m | 1.3 bn | 1.7 bn | 2.9 bn |
| Revenue YoY | unavailable | unavailable | +213.3% | +113.6% | +7.0% | +31.3% | +36.5% | +67.8% |
| Net income | unavailable | 21.3 m | 171.0 m | 360.3 m | 375.2 m | 548.1 m | 700.7 m | 1.5 bn |
| Net income YoY | unavailable | unavailable | +703.9% | +110.8% | +4.1% | +46.1% | +27.8% | +107.9% |
| Diluted EPS | unavailable | 0.02 | 0.16 | 0.30 | 0.33 | 0.49 | 0.63 | 1.29 |
| Diluted EPS YoY | unavailable | unavailable | +700.0% | +87.5% | +10.0% | +48.5% | +28.6% | +104.8% |
| net % | unavailable | 15.6% | 40.0% | 39.5% | 38.4% | 42.8% | 40.1% | 49.6% |
| Free cash flow | unavailable | 237.6 m | 2.6 bn | 761.8 m | 433.8 m | -821.3 m | 4.0 bn | 5.2 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 1.3 bn USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 5.2 bn USD
- Total assets
- 29.3 bn USD
- Debt / equity
- unavailable
- Current ratio
- 1.19x
- ROE
- 33.2%
- ROA
- 5.9%
- FCF margin
- 178.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 427.0 m | 912.3 m | 976.0 m | 1.3 bn | 1.7 bn | 2.9 bn | SEC (XBRL)· 15 Apr 2026verified |
| Cost of revenue | 89.8 m | 154.6 m | 127.7 m | 196.7 m | 314.8 m | 378.0 m | SEC (XBRL)· 15 Apr 2026verified |
| Gross profit | 337.3 m | 757.6 m | 848.3 m | 1.1 bn | 1.4 bn | 2.6 bn | SEC (XBRL)· 15 Apr 2026verified |
| Research & development | 66.2 m | 103.3 m | 156.6 m | 184.5 m | 192.3 m | 245.2 m | SEC (XBRL)· 15 Apr 2026verified |
| Operating income | — | — | — | 641.1 m | 852.5 m | 1.8 bn | SEC (XBRL)· 15 Apr 2026verified |
| Depreciation & amortisation | 3.5 m | 4.7 m | 7.0 m | 7.8 m | 9.0 m | 9.3 m | SEC (XBRL)· 15 Apr 2026verified |
| EBITDA | — | — | — | 648.9 m ≈ | 861.5 m ≈ | 1.8 bn ≈ | SEC (XBRL)· 15 Apr 2026derived |
| Interest expense | 185.1 m | 376.9 m | 292.5 m | 910.8 m | — | — | SEC (XBRL)· 24 Apr 2024verified |
| Pre-tax income | 187.1 m | 408.4 m | 430.5 m | 645.4 m | 841.3 m | 1.8 bn | SEC (XBRL)· 15 Apr 2026verified |
| Income tax | 16.1 m | 48.1 m | 53.1 m | 95.8 m | 128.5 m | 303.2 m | SEC (XBRL)· 15 Apr 2026verified |
| Net income | 171.0 m | 360.3 m | 375.2 m | 548.1 m | 700.7 m | 1.5 bn | SEC (XBRL)· 15 Apr 2026verified |
| Diluted EPS | 0.16 | 0.30 | 0.33 | 0.49 | 0.63 | 1.29 | SEC (XBRL)· 15 Apr 2026verified |
| Weighted average diluted shares | 1.1 bn | 1.2 bn | 1.2 bn | 1.1 bn | 1.1 bn | 1.1 bn | SEC (XBRL)· 15 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 133.4 m | 584.0 m | 644.6 m | 632.1 m | 1.5 bn | 1.3 bn | SEC (XBRL)· 15 Apr 2026verified |
| Current assets | — | 12.9 bn | 11.9 bn | 12.2 bn | 20.1 bn | 28.7 bn | SEC (XBRL)· 15 Apr 2026verified |
| Property, plant & equipment, net | 108.3 m | 175.8 m | 145.8 m | 125.0 m | 187.6 m | 164.1 m | SEC (XBRL)· 15 Apr 2026verified |
| Goodwill | — | — | — | — | — | 110.2 m | SEC (XBRL)· 15 Apr 2026verified |
| Intangibles (excl. goodwill) | 10.2 m | 17.2 m | 54.4 m | 72.1 m | 85.6 m | 109.8 m | SEC (XBRL)· 15 Apr 2026verified |
| Total assets | 9.2 bn | 13.0 bn | 12.1 bn | 12.4 bn | 20.4 bn | 29.3 bn | SEC (XBRL)· 15 Apr 2026verified |
| Current liabilities | — | 10.3 bn | 9.4 bn | 9.3 bn | 16.8 bn | 24.1 bn | SEC (XBRL)· 15 Apr 2026verified |
| Total liabilities | 8.1 bn | 10.3 bn | 9.4 bn | 9.3 bn | 16.8 bn | 24.2 bn | SEC (XBRL)· 15 Apr 2026verified |
| Equity | 1.1 bn † | 2.7 bn † | 2.7 bn | 3.1 bn | 3.6 bn | 5.2 bn | SEC (XBRL)· 15 Apr 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 2.6 bn | 770.8 m | 445.4 m | -811.4 m | 4.0 bn | 5.2 bn | SEC (XBRL)· 15 Apr 2026verified |
| Capex | 5.8 m | 9.0 m | 11.6 m | 10.0 m | 21.6 m | 7.0 m | SEC (XBRL)· 15 Apr 2026verified |
| Free cash flow | 2.6 bn ≈ | 761.8 m ≈ | 433.8 m ≈ | -821.3 m ≈ | 4.0 bn ≈ | 5.2 bn ≈ | SEC (XBRL)· 15 Apr 2026derived |
| Investing cash flow | -31.5 m | -123.5 m | 12.0 m | -312.9 m | 13.4 m | -229.1 m | SEC (XBRL)· 15 Apr 2026verified |
| Financing cash flow | 1.1 bn | 1.4 bn | -898.5 m | 295.5 m | 9.1 m | 552.1 m | SEC (XBRL)· 15 Apr 2026verified |
| Dividends paid | — | — | — | — | — | 276.4 m | SEC (XBRL)· 15 Apr 2026verified |
| Share repurchases | — | 151.1 m | 403.2 m | 112.0 m | — | — | SEC (XBRL)· 24 Apr 2024verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 47.9% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 0 USD
Key indicators
Coverage and freshness
Score by group
48% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 13.48 – 24.38 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E13.48 – 24.38 (Mid 18.95)17 companies used · median multiple 14.7x · quartiles 10.4x – 18.9xBLK, COHN, ETOR, HOOD, IBKR, JEF, MIAX, MKTX, MS, OPY, PIPR, RJF, SCHW, SEIC, SF, VIRT, WT
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 47.9% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 49.6% | 92 (vs peers) | 13% |
| FCF conversion · Quality | 359.3% | 100 (on a fixed band) | 13% |
| Revenue CAGR 3Y · Growth | 44.3% | 100 (on a fixed band) | 17% |
| EPS CAGR 3Y · Growth | 57.5% | 100 (on a fixed band) | 17% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.2x | 33 (on a fixed band) | 9% |
| P/E (TTM) · Valuation | 75.9x | 0 (vs peers) | 22% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | 5.3% | 100 (on a fixed band) | 9% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial33/100 · 1/3 factors with a value
- Growth100/100 · 2/2 factors with a value
- Quality96/100 · 2/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Futu Holdings Ltd (FUTU). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 2.9 bn USD in 2025; YoY growth 67.8%; net margin 49.6%; ROE 33.3%.
The estimated value range is 13.48–24.38 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 18.95 USD, the price of 97.92 USD leaves a potential of -80.7% (value / price − 1) and a margin of safety of -416.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 47.9% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 49.6%
- FCF conversion: 359.3%
- Revenue CAGR 3Y: 44.3%
- EPS CAGR 3Y: 57.5%
- Payout ratio (FCF): 5.3%
What contradicts it
- P/E (TTM): 75.9x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Security Brokers, Dealers & Flotation Companies (SIC 6211) · same industry (4-digit SIC) · compared with 29 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| MSMorgan Stanley | 304.6 bn | 15.6 | 18.0% | — | unavailable | +14% / +144% |
| BLKBlackRock, Inc. | 189.7 bn | 28.1 | 12.2% | 24.2% | +89.3% | +17% / +63% |
| SCHWSchwab Charles Corp | 161.5 bn | 16.8 | 20.3% | 38.8% | +22.0% | +1% / +52% |
| RJFRaymond James Financial, Inc. | 32.4 bn | 14.7 | 18.5% | 13.6% | +6.6% | +8% / +60% |
| SEICSei Investments Company | 12.9 bn | 18.9 | 28.9% | 28.1% | +8.1% | +34% / +85% |
| FRHCFreedom Holding Corp. | 11.9 bn | 73.8 | 11.2% | 6.5% | +9.3% | +42% / +129% |
| JEFJefferies Financial Group Inc. | 10.5 bn | 11.5 | 8.6% | 7.5% | +2.9% | −11% / +44% |
| MKTXMarketaxess Holdings Inc | 5.8 bn | 19.5 | 23.3% | 35.2% | +3.6% | +1% / −31% |
| SFStifel Financial Corp | 5.1 bn | 5.2 | 16.5% | 14.6% | +6.7% | −10% / +79% |
| IBKRInteractive Brokers Group, Inc. | 5.0 bn | 17.1 | 91.3% | 179.4% | +23.4% | +20% / +300% |
| PIPRPiper Sandler Companies | 5.0 bn | 6.0 | 23.6% | 14.5% | +24.3% | −16% / +82% |
| MIAXMiami International Holdings, Inc. | 3.5 bn | 12.5 | 28.9% | 19.8% | +19.6% | −23% / unavailable |
| WTWisdomTree, Inc. | 3.0 bn | 38.2 | 18.7% | 13.3% | +15.4% | +81% / +208% |
| JSMNavient Holdings, Inc. | 1.5 bn | — | -2.0% | — | −15.6% | −21% / −19% |
| MTCMmtec, Inc. | 534.8 m | — | -272.7% | -6,944.3% | −56.8% | +97% / −42% |
| SIEBSiebert Financial Corp. | 75.2 m | — | -1.3% | -1.1% | +12.3% | −43% / −3% |
| DOMHDominari Holdings Inc. | 39.8 m | — | -315.4% | -51.6% | +487.0% | −65% / −28% |
| LGHLLion Group Holding Ltd. | 34.3 m | — | -27.4% | -52.8% | unavailable | −100% / −100% |
| COHNCohen & Co Inc. | 33.0 m | 1.9 | 33.3% | 5.6% | +246.2% | −33% / +66% |
| AXGSolowin Holdings, Ltd. | 26.5 m | — | -88.9% | -47.4% | +895.0% | −53% / −38% |
| GLXYGalaxy Digital Inc. | 1.4 k | — | -16.7% | -0.5% | +41.8% | −47% / unavailable |
| TIGRUp Fintech Holding Limited | — | 63.7 | 22.6% | 28.0% | +56.3% | −55% / −11% |
| ETOReToro Group Ltd. | — | 10.4 | 1.4% | 1.6% | +9.5% | −43% / unavailable |
| NMRNomura America Finance, LLC | — | — | — | — | +12.7% | +29% / +138% |
| BULLWebull Corporation | — | — | — | 4.3% | +46.3% | −42% / −50% |
1- and 3-year price returns: for FUTU from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | input data missing Total return unavailable · Per year unavailable | input data missing Total return unavailable · Per year unavailable | input data missing Total return unavailable · Per year unavailable |
| 3 years | input data missing Total return unavailable · Per year unavailable | input data missing Total return unavailable · Per year unavailable | input data missing Total return unavailable · Per year unavailable |
| 5 years | input data missing Total return unavailable · Per year unavailable | input data missing Total return unavailable · Per year unavailable | input data missing Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 15 Apr 2026; since then the company filed 6-K (20 Aug 2026), 6-K (28 May 2026), 6-K (22 May 2026).
In brief
Futu Holdings operates a digital financial platform offering securities brokerage and wealth management product distribution through its Futubull and Moomoo apps to investors across several markets. In 2025 the company reported total revenues of HK$22.8 billion, and it served approximately 29.2 million users 1.
SWOT
Strengths
- A recognised brand in several markets and a large user base, with an integrated digital platform covering trading, data and community services 1.
- Proprietary technology allows the company to add new markets with moderate investment and marginal cost 1.
- Multiple licences and registrations in regulated jurisdictions that support international expansion 1.
Weaknesses
- Revenues depend heavily on trading volume and market conditions, which makes them hard to forecast 1.
- A large share of revenue comes from one Hong Kong entity, which concentrates exposure in a single regulatory framework 1.
- The VIE structure for China operations relies on contractual arrangements that may be less effective than direct ownership 1.
Opportunities
Risks
- Regulation across several jurisdictionshigh
Operations are subject to strict requirements in Hong Kong, the United States, Singapore and other markets, and non-compliance could lead to fines or loss of licences 1.
- CSRC inquiry into mainland operationshigh
The company is under CSRC inquiry over its cross-border operations, and further actions could affect results if the regulator is not satisfied with its remediation 1.
- Revenue volatilitymedium
Transaction-based revenues are volatile and difficult to predict, and a fall in trading volume could weigh on profitability 1.
- Data protectionmedium
Collecting and storing client data is subject to complex and evolving rules, and a breach could carry financial and reputational costs 1.
- VIE structuremedium
Reliance on contractual arrangements for China operations could expose the company to losing control of those entities if the rules change 1.
Investment thesis
What would need to be true (bull case)
- If growth in funded accounts and client assets holds, the company could keep expanding commission and interest income 1.
- Expansion of Moomoo into more markets and diversification into wealth management could improve margins over the longer term 1.
- Operating costs that do not rise in step with revenue could support profitability if volumes stay high 1.
What would break the thesis
- If trading volumes fall with market conditions, commission revenue could drop quickly 1.
- Regulatory inquiries and restrictions in China and other jurisdictions could limit growth and access to new licences 1.
- Falling average commissions and intense competition could compress margins in the brokerage segment 1.
What to watch
- Trend in funded accounts and client asset balanceQ1 2027
- Movement in blended commission rate and trading volumeQ1 2027
- Outcome of regulatory proceedings in China and the United Statesnext 10-K
- Development of virtual asset business through Panthertrade and its integration with Futu Securities2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 15 Apr 2026; since then the company filed 6-K (20 Aug 2026), 6-K (28 May 2026), 6-K (22 May 2026).
The business
Futu Holdings began as an online brokerage provider and has become an integrated financial platform combining trading, wealth management product distribution, market data, user community, investor education and institutional and corporate services 1. It operates mainly through Futu Securities in Hong Kong, regulated by the SFC, and its international expansion runs through the Moomoo platform, launched in the United States, Singapore, Australia, Japan, Canada, Malaysia and New Zealand 1. As of December 31, 2025 the number of funded accounts was 3,365,414, and total client asset balance reached HK$1,233.0 billion 1.
The platform runs on a proprietary technology infrastructure integrated across markets, with automated protection mechanisms, data encryption and two-factor authentication 1. The company has also built AI features, including automated stock analysis, announcement summaries and assistants such as Futubull AI and Moomoo AI 1. Growth has relied largely on word-of-mouth referrals, organic traffic and online and offline marketing 1.
The corporate structure also includes entities in the United States, Singapore, Australia, Japan, Canada, Malaysia and New Zealand, as well as a bank and a virtual asset platform in Hong Kong, and it consolidates PRC entities through contractual arrangements with VIEs 1. This structure carries regulatory implications that the source describes in detail 1.
Market context
The company operates in regulated markets where online brokerage is still at an early stage of development, and trading volume depends directly on market conditions and investor sentiment 1. Growth in affluent retail investors and mobile internet use supports demand, while changes in policy and regulation can affect access to services 1.
Trading volume in securities and options reached HK$14.68 trillion in 2025, up from HK$7.75 trillion in 2024, and futures contracts traded rose to 26.6 million 1. The company notes that trade tensions between the United States and other countries could reduce volumes and activity in global markets 1.
Trends
- Growth in retail investingtailwind
Rising numbers of individual investors and interest in global markets support demand for digital brokerage platforms, according to the company's description 1.
- Market volatility and trade tensionsheadwind
Trade tensions and shifts in sentiment could reduce trading volumes, and commission-based revenues could fluctuate significantly 1.
- Expansion into virtual assets and AImixed
Virtual asset licences and AI features could broaden the company's offer if client adoption grows 1.
- Interest rates and margin financingmixed
Interest income depends on rate levels and funding conditions, which makes this segment sensitive to rate changes 1.
Competitive position
The company states that it faces significant competition in online brokerage and wealth management, which could cost it market share if it fails to compete effectively 1. It bases its position on its brand, its technology and its integrated service offering 1.
The source does not name individual competitors, but online brokers in the markets where Futu operates are the firms it is generally measured against in its risk disclosures 1.
- Hong Kong online brokers
Local online brokerage firms competing for the same retail investors, as described in the source's market overview.
- US retail trading brokers
American retail trading platforms competing in the Moomoo segment, not individually named in the source.
- Asian brokerage platforms
Regional providers active in Singapore, Malaysia and Japan that compete for clients in those markets.
- Wealth management product providers
Firms offering funds and investment products that compete with the company's Money Plus distribution.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Futu ( FUTU) Posts Record Quarter Despite Regulatory HeadwindsYahoo Finance — News · 27 Aug 2026 · EN
- Hedge Funds Backing Futu, Up Fintech Hit by China CrackdownBloomberg Markets · 26 May 2026 · EN
- Futu, Up Fintech Options Surged Before Crackdown Sparked SlumpBloomberg Markets · 22 May 2026 · EN
- China to Penalize Tiger, Futu in Cross-Border Flow CrackdownBloomberg Markets · 22 May 2026 · EN
SEC filings
- Current report (foreign issuer)20 Aug 2026
- Current report (foreign issuer)28 May 2026
- Current report (foreign issuer)22 May 2026
- Annual report (foreign issuer)15 Apr 2026
- Current report (foreign issuer)02 Apr 2026
- Current report (foreign issuer)12 Mar 2026
- Current report (foreign issuer)18 Nov 2025
- Current report (foreign issuer)20 Aug 2025
- Current report (foreign issuer)29 May 2025
- Annual report (foreign issuer)14 Apr 2025
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Futu Holdings Limited · 15 Apr 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.