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Up Fintech Holding Ltd (TIGR)
NASDAQ:TIGR
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Up Fintech Holding
(NASDAQ:TIGR)
71Outperform
Positive Factors
Customer Growth
The number of new paying customers was stronger-than-expected, exceeding the management's guidance and revised expectations.
Earnings
4Q24 net profit jumped 58% quarter-on-quarter to USD28 million, ahead of expectations, highlighting strong operating leverage.
Market Position
Up Fintech is a leading online broker aiming to serve global investors, with its user-friendly trading experience enabling it to grow rapidly and win market share from traditional brokers.
Negative Factors
Competition
Intensifying competition will lead to lower commission rate, or higher selling and marketing costs.
Market Conditions
Unfavorable market conditions will suppress trading and margin financing activities.
New Client Guidance
Management guided new client addition of 150k for the fiscal year, which is a 20% decrease year-on-year.
Up Fintech Holding (TIGR) vs. S&P 500 (SPY)
Market Cap
$1.39B
Dividend YieldN/A
Average Volume (3M)9.25M
Price to Earnings (P/E)24.8
Beta (1Y)1.58
Revenue Growth43.68%
EPS Growth77.18%
CountryUS
Employees1,109
SectorFinancial
Sector Strength84
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.36
Shares Outstanding178,138,440
10 Day Avg. Volume9,142,003
30 Day Avg. Volume9,253,478
Financial Highlights & Ratios
PEG Ratio0.32
Price to Book (P/B)N/A
Price to Sales (P/S)5.43
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
$10.39Price Target Upside17.67% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
Up Fintech Holding Business Overview & Revenue Model
Company DescriptionUP Fintech Holding Limited provides online brokerage services focusing on Chinese investors. The company has developed a brokerage platform, which allows investor to trade stocks, options, warrants, and other financial instruments that can be accessed through its APP and website. It offers brokerage and value-added services, including investor education, community engagement, and IR platform; and account management services. The company also provides trade execution, margin financing, and securities lending services; asset management and wealth management; ESOP management; fund license application, product design, asset custody, transaction execution, and funding allocation; fund structuring and management; and IPO underwriting services. In addition, it offers market information, community engagement, investor education, and simulated trading services. The company was founded in 2014 and is based in Beijing, China.
How the Company Makes MoneyUp Fintech Holding makes money primarily through commissions and fees from its brokerage services. The company charges clients for executing trades on its platform, which constitutes a significant portion of its revenue. Additionally, Up Fintech earns income from interest on margin financing and securities lending services it provides to its clients. The company also generates revenue from other financial services such as asset management and premium membership subscriptions, which offer users enhanced trading tools and features. Partnerships with financial institutions and market data providers further bolster its revenue streams by expanding its service offerings and improving its platform capabilities.
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
8.83
Price Trends
7.43
Positive
6.94
Positive
5.88
Positive
Market Momentum
0.42
Negative
58.93
Neutral
63.67
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 8.83 is above the 20-day moving average (MA) of 7.77, above the 50-day MA of 7.43, and above the 200-day MA of 5.88, indicating a bullish trend. The MACD of 0.42 indicates Negative momentum. The RSI at 58.93 is Neutral, neither overbought nor oversold. The STOCH value of 63.67 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 | $4.73B | 21.61 | 20.67% | ― | 36.30% | 27.77% | |
74 Outperform | $73.26B | 25.03 | 19.20% | 0.58% | 19.54% | 22.23% | |
71 Outperform | $1.39B | 24.78 | 10.62% | ― | 43.68% | 77.18% | |
71 Outperform | $1.07B | ― | 11.11% | ― | ― | ― | |
70 Outperform | $146.16B | 26.24 | 13.30% | 1.30% | 1.87% | 17.63% | |
66 Neutral | $42.82B | 30.96 | 19.24% | ― | 57.26% | ― | |
64 Neutral | $14.46B | 10.12 | 8.75% | 4.25% | 17.00% | -11.86% |
* Financial Sector Average
Performance Comparison
TIGR
Up Fintech Holding
8.83
5.33
152.29%
IBKR
Interactive Brokers
179.94
71.52
65.97%
SCHW
Charles Schwab
79.96
9.62
13.68%
FUTU
Futu Holdings
107.76
54.73
103.21%
AMTD
AMTD IDEA Group
1.08
-0.66
-37.93%
HOOD
Robinhood Markets
48.36
29.28
153.46%
Up Fintech Holding Earnings Call Summary
Earnings Call Date: Mar 18, 2025 | % Change Since: 10.79% | Next Earnings Date: May 28, 2025
Earnings Call Sentiment Positive
The earnings call presented strong financial performance with record revenue and profit growth, expansion in client accounts, and strategic advancements in cryptocurrency and AI technologies. However, the rise in operational expenses and tax rates were notable concerns. The positive aspects significantly outweigh the lowlights, indicating a successful quarter and year.Highlights
Record Revenue Growth
Total revenue for Q4 2024 reached $124.1 million, representing a 22.8% increase quarter-over-quarter and a 77.3% increase year-over-year. For the full year, revenue was $391.5 million, a 43.7% increase from 2023.
Profitability Improvement
GAAP net income for 2024 was $60.7 million, up 86.5% from 2023, and non-GAAP net income was $70.5 million, up 65% from 2023. Q4 GAAP net profit was $28.1 million, a 58% increase quarter-over-quarter.
Increase in Client Accounts
59,200 new funded accounts in Q4, a 17.2% increase from the previous quarter. Total funded accounts reached 1.09 million by the end of 2024, a 20.7% year-over-year increase.
Expansion into Cryptocurrency
YAX Hong Kong received licenses for Type 1 and Type 7 from the Hong Kong SFC, making it a licensed virtual asset trading platform.
AI Investment Assistant Upgrade
The AI investment assistant was upgraded to TigerAI, integrating leading AI models to enhance investment decision-making capabilities.
Lowlights
Rising Expenses
Employee compensation and benefits increased by 41% year-over-year due to an increase in global headcount. Marketing expenses rose by 64% year-over-year.
Increased Effective Tax Rate
The effective tax rate increased from 14% in Q3 to 25% in Q4, primarily due to increased profits from the U.S. market where the tax rate is higher.
Company Guidance
In the recent earnings call for UP Fintech Holding Limited, the company reported substantial growth in both financial and operational metrics for Q4 and the full year of 2024. The total revenue for the fourth quarter reached $124.1 million, marking a 22.8% increase quarter-over-quarter and a 77.3% increase year-over-year. For the full year, revenue grew by 43.7% to $391.5 million. The company achieved record highs in both commission and interest income, with increases of 35.8% and 16.3% respectively compared to the previous quarter. GAAP net income for the year was $60.7 million, with non-GAAP net income at $70.5 million, representing an 86.5% and 65% increase from 2023, respectively. The fourth quarter saw a significant rise in GAAP and non-GAAP net profit to $28.1 million and $30.5 million, reflecting a 58% and 51.7% increase quarter-over-quarter. The non-GAAP net profit margin improved from 20% in Q3 to 25% in Q4. The company added 59,200 newly funded accounts in the fourth quarter, a 17.2% increase from the prior quarter, and exceeded its annual target with 187,400 new funded accounts for the year. Total client assets grew by 2.4% quarter-over-quarter and 36.4% year-over-year, reaching $41.7 billion, with strong contributions from the Hong Kong market. Despite challenging market conditions, the company maintained robust growth, driven by strategic expansions and product enhancements.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.