Education
About Us
Working with TipRanks
Follow Us
Up Fintech Holding (TIGR)
:TIGR
Top Page
Up Fintech Holding
(NASDAQ:TIGR)
76Outperform
Positive Factors
Market Expansion
Up Fintech is gaining strong traction in the Hong Kong market, with assets under custody growing 30%.
Revenue
Revenue at an all-time high with 3Q24 revenue hitting USD101mn on strong fees.
Negative Factors
Economic Conditions
There is a weaker-than-expected impact of fiscal stimulus from China and a substantial slowdown in the global economy.
Up Fintech Holding (TIGR) vs. S&P 500 (SPY)
Market Cap
$1.11B
Dividend YieldN/A
Average Volume (3M)8.15M
Price to Earnings (P/E)37.6
Beta (1Y)1.78
Revenue Growth26.67%
EPS Growth-14.77%
CountryUS
Employees1,109
SectorFinancial
Sector Strength77
IndustryCapital Markets
Share Statistics
EPS (TTM)0.19
Shares Outstanding178,138,440
10 Day Avg. Volume6,162,636
30 Day Avg. Volume8,150,711
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)4.16
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$9.40Price Target Upside32.96% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Up Fintech Holding Business Overview & Revenue Model
Company DescriptionUP Fintech Holding Ltd. operates as brokerage firm, which focuses on global Chinese investors. The company was founded by Tianhua Wu in January 2018and is headquartered in Chaoyang District, China.
How the Company Makes MoneyUp Fintech Holding makes money primarily through three key revenue streams: commissions and fees, interest income, and other financial services. The company charges commission fees on trades executed through its platform, which forms a significant portion of its revenue. Additionally, Up Fintech earns interest income from margin financing and securities lending, where clients borrow funds to trade or short-sell securities. The company also offers ancillary financial services such as wealth management, which contribute to its overall earnings. Partnerships with financial institutions and technology firms enhance its service offerings and client reach, further supporting its revenue growth.
Up Fintech Holding Financial Statement Overview
Summary
Up Fintech Holding demonstrates strong revenue growth and profitability improvements, with a solid income statement. The balance sheet is stable with moderate leverage, but cash flow challenges due to declining operating and negative free cash flow require attention.Income Statement
Up Fintech Holding's income statement shows strong revenue growth with a 20.9% increase from 2022 to 2023. The gross profit margin improved to 59.7% in 2023, reflecting efficient cost management. Net profit margin turned positive at 11.9% in 2023, a significant improvement over the previous year's negative margin, indicating enhanced profitability. The EBIT and EBITDA margins also saw substantial growth, reinforcing the firm's operational efficiency.85
Very Positive
Balance Sheet
The balance sheet reflects a solid equity position with a debt-to-equity ratio of 0.34 in 2023, indicating moderate leverage. Return on equity improved significantly to 6.7%, highlighting better utilization of shareholder funds. However, the equity ratio marginally decreased to 13.1%, suggesting a higher reliance on liabilities. Overall, the balance sheet shows financial stability with manageable debt levels.78
Positive
Cash Flow
Cash flow analysis reveals challenges, with a declining operating cash flow and a negative free cash flow in 2023, marking a significant drop from previous years. The operating cash flow to net income ratio is negative, indicating cash flow issues despite profitability. Improvements in cash management are needed to enhance liquidity and sustain operations.60
Neutral
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 306.51M | 272.51M | 225.37M | 264.49M | 138.50M | 58.66M | Gross Profit |
| 237.90M | 162.67M | 89.34M | 127.81M | 65.71M | 16.25M | EBIT |
| 90.18M | 79.80M | 1.66M | 12.05M | 20.10M | -13.75M | EBITDA |
| 100.82M | 82.64M | 4.47M | 19.00M | 21.03M | -11.35M | Net Income Common Stockholders |
| 26.34M | 32.56M | -2.26M | 14.69M | 16.06M | -5.95M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 2.37B | 751.66M | 441.14M | 276.01M | 98.91M | 139.89M | Total Assets |
| 3.75B | 3.75B | 3.80B | 3.32B | 2.19B | 809.06M | Total Debt |
| 165.80M | 165.80M | 13.88M | 154.54M | 7.21M | 5.84M | Net Debt |
| -1.77B | -156.80M | -263.78M | -114.51M | -72.45M | -53.57M | Total Liabilities |
| 3.25B | 3.25B | 3.35B | 2.87B | 1.96B | 597.12M | Stockholders Equity |
| 488.98M | 488.98M | 447.13M | 446.63M | 235.69M | 211.94M |
| Cash Flow | Free Cash Flow | ||||
| 4.47M | -9.33M | 253.17M | 408.24M | 534.30M | 241.99M | Operating Cash Flow |
| 4.47M | -6.57M | 258.06M | 413.20M | 535.28M | 243.31M | Investing Cash Flow |
| 0.00 | -7.75M | -3.61M | 10.92M | 43.56M | -22.04M | Financing Cash Flow |
| 0.00 | 1.82M | 4.73M | 330.88M | -8.37M | 114.91M |
Up Fintech Holding Technical Analysis
Positive
7.07
Price Trends
7.10
Positive
6.79
Positive
5.70
Positive
Market Momentum
-0.05
Positive
49.63
Neutral
33.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TIGR, the sentiment is Positive. The current price of 7.07 is below the 20-day moving average (MA) of 7.64, below the 50-day MA of 7.10, and above the 200-day MA of 5.70, indicating a neutral trend. The MACD of -0.05 indicates Positive momentum. The RSI at 49.63 is Neutral, neither overbought nor oversold. The STOCH value of 33.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TIGR.
Up Fintech Holding Risk Analysis
Up Fintech Holding disclosed 97 risk factors in its most recent earnings report. Up Fintech Holding reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Up Fintech Holding Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $1.11B | 37.61 | 6.06% | ― | 26.67% | -14.77% | |
75 Outperform | $4.71B | 26.02 | 17.09% | ― | 16.57% | 2.92% | |
73 Outperform | $132.82B | 24.99 | 13.30% | 1.41% | 1.87% | 17.63% | |
71 Outperform | $1.07B | ― | 11.11% | ― | ― | ― | |
68 Neutral | $70.64B | 27.74 | 19.20% | 0.59% | 19.54% | 22.23% | |
64 Neutral | $13.80B | 10.64 | 9.23% | 4.22% | 17.66% | -7.66% | |
63 Neutral | $31.55B | 22.81 | 19.24% | ― | 57.26% | ― |
* Financial Sector Average
Performance Comparison
TIGR
Up Fintech Holding
7.31
2.34
47.08%
IBKR
Interactive Brokers
170.34
62.58
58.07%
SCHW
Charles Schwab
74.22
8.02
12.11%
FUTU
Futu Holdings
111.73
47.80
74.77%
AMTD
AMTD IDEA Group
1.03
-0.72
-41.14%
HOOD
Robinhood Markets
36.36
19.20
111.89%
Up Fintech Holding Earnings Call Summary
Earnings Call Date: Nov 12, 2024 | % Change Since: 8.10% | Next Earnings Date: Mar 18, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong growth in trading volumes and revenue, driven by an expanded client base and increased market activities. Despite increased operating costs and a decrease in cash equity take rates, the company achieved record revenues and significant net income growth. Expansion in new markets and robust performance in wealth management further underscore the positive momentum.Highlights
Record-Breaking Trading Volume and Revenue
Total trading volume reached USD 163 billion. Total revenue for Q3 was an all-time high of USD 101 million, a quarter-over-quarter increase of 16% and a year-over-year increase of 44%.
Significant Increase in Commission and Interest Income
Commission income reached USD 41.2 million, up 21% quarter-over-quarter and 78% year-over-year. Interest income rose 9% quarter-over-quarter to USD 48 million.
Strong Net Income Growth
GAAP and non-GAAP net income attributable to UP Fintech was USD 13.8 million and USD 20.1 million, increasing 34% and 26% year-over-year, respectively.
Growth in Client Assets and Accounts
Total client assets increased 7% quarter-over-quarter and 116% year-over-year to USD 40.8 billion. The number of funded accounts increased by 19% year-over-year.
Expansion in Hong Kong and Southeast Asia
Over 25% quarter-over-quarter increase in client assets from new markets like Hong Kong, Australia, New Zealand, and the U.S. Hong Kong trading volume for October exceeded the total trading volume of the third quarter.
Wealth Management Growth
Wealth management AUM increased by over 40% quarter-over-quarter and doubled year-over-year, exceeding USD 1 billion.
Lowlights
Increased Operating Costs
Total operating costs rose to USD 59.3 million, an increase of 22% from the same quarter last year, driven by higher employee compensation, marketing, and G&A expenses.
Decreased Cash Equity Take Rate
Cash equities take rate decreased slightly from 6.7 bps to 6.4 bps due to higher average stock prices and a shift in the trading mix.
Impact of Foreign Exchange Loss
Foreign exchange loss amounted to USD 5.1 million due to the depreciation of the U.S. dollar against local currencies.
Company Guidance
During the UP Fintech Holding Limited's third quarter 2024 earnings call, the company reported significant growth across various metrics. Total trading volume reached USD 163 billion, with cash equity trading volume at USD 41.4 billion, marking a quarter-over-quarter increase of 54% and 24%, respectively. Commission income rose to USD 41.2 million, up 21% quarter-over-quarter and 78% year-over-year. Market financing and securities lending business saw a 29% quarter-over-quarter and a 100% year-over-year increase, reaching USD 4.5 billion. Total revenue hit a record high of USD 101 million, a 16% rise quarter-over-quarter and a 44% increase year-over-year. GAAP net income was USD 13.8 million, with non-GAAP net income at USD 20.1 million, reflecting year-over-year increases of 34% and 26%, respectively. The company added 50,500 newly funded accounts, achieving its annual guidance of 150,000 new accounts, with total client assets rising by 7% quarter-over-quarter and 116% year-over-year to USD 40.8 billion. The operating profit margin improved to 26%, indicating enhanced operational efficiency.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.