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Up Fintech Holding Ltd (TIGR)
NASDAQ:TIGR
Top Page
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.
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.
Up Fintech Holding (TIGR) vs. S&P 500 (SPY)
Market Cap
$1.11B
Dividend YieldN/A
Average Volume (3M)7.95M
Price to Earnings (P/E)19.8
Beta (1Y)1.49
Revenue Growth43.68%
EPS Growth77.18%
CountryUS
Employees1,109
SectorFinancial
Sector Strength81
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.36
Shares Outstanding178,138,440
10 Day Avg. Volume8,322,295
30 Day Avg. Volume7,945,349
Financial Highlights & Ratios
PEG Ratio0.26
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
$10.72Price Target Upside57.42% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
Up Fintech Holding Business Overview & Revenue Model
Company DescriptionUp Fintech Holding Limited, also known as Tiger Brokers, is a leading online brokerage firm focusing on global Chinese investors. The company provides a comprehensive suite of financial services, including securities brokerage, wealth management, and financial advisory services. Up Fintech operates a highly efficient and user-friendly mobile trading platform that allows users to trade a wide range of financial instruments such as stocks, options, futures, and mutual funds in multiple markets worldwide.
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 has demonstrated strong revenue growth and improved net profit margins. The balance sheet reflects financial stability with a solid equity base and low debt levels. However, inconsistent cash flows present concerns about sustainability without external financing.Income Statement
Up Fintech Holding has demonstrated robust revenue growth from 2019 to 2024, with Total Revenue increasing from $58.7M in 2019 to $330.7M in 2024. The company boasts a strong Gross Profit Margin, consistently at 100% in recent years, indicating effective cost management. The Net Profit Margin has improved significantly, moving from negative territory in 2019 to a notable 18.36% in 2024, reflecting enhanced profitability. However, EBIT and EBITDA margins have been volatile, suggesting some operational inefficiencies.75
Positive
Balance Sheet
The balance sheet reflects a strengthening equity position with Stockholders' Equity growing from $211.9M in 2019 to $655.2M in 2024, indicating financial stability. The Debt-to-Equity ratio has remained low, standing at 0.24 in 2024, suggesting prudent leverage management. However, the Equity Ratio has fluctuated, with the latest at 10.25% in 2024, pointing to room for improvement in capital structure resilience.70
Positive
Cash Flow
Cash flow generation has been inconsistent, with a substantial Operating Cash Flow in 2019 and 2020 but declining in subsequent years, with TTM showing zero. Free Cash Flow has similarly fluctuated, with significant levels in early years but reduced to zero in 2024. This presents concerns about cash management and sustainability of operations without external financing.60
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 330.74M | 272.51M | 225.37M | 264.49M | 138.50M | Gross Profit |
| 330.74M | 162.67M | 89.34M | 127.81M | 65.71M | EBIT |
| 132.01M | 79.80M | 1.66M | 12.05M | 20.10M | EBITDA |
| 0.00 | 82.64M | 4.47M | 19.00M | 21.03M | Net Income Common Stockholders |
| 60.73M | 32.56M | -2.26M | 14.69M | 16.06M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 393.58M | 751.66M | 441.14M | 276.01M | 98.91M | Total Assets |
| 6.39B | 3.75B | 3.80B | 3.32B | 2.19B | Total Debt |
| 159.51M | 165.80M | 13.88M | 154.54M | 7.21M | Net Debt |
| -234.07M | -156.80M | -263.78M | -114.51M | -72.45M | Total Liabilities |
| 5.73B | 3.25B | 3.35B | 2.87B | 1.96B | Stockholders Equity |
| 655.23M | 488.98M | 447.13M | 446.63M | 235.69M |
| Cash Flow | Free Cash Flow | |||
| 0.00 | -9.33M | 253.17M | 408.24M | 534.30M | Operating Cash Flow |
| 0.00 | -6.57M | 258.06M | 413.20M | 535.28M | Investing Cash Flow |
| 0.00 | -7.75M | -3.61M | 10.92M | 43.56M | Financing Cash Flow |
| 0.00 | 1.82M | 4.73M | 330.88M | -8.37M |
Up Fintech Holding Technical Analysis
Negative
6.81
Price Trends
7.82
Negative
7.19
Negative
6.14
Positive
Market Momentum
-0.31
Positive
39.13
Neutral
24.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TIGR, the sentiment is Negative. The current price of 6.81 is below the 20-day moving average (MA) of 8.08, below the 50-day MA of 7.82, and above the 200-day MA of 6.14, indicating a neutral trend. The MACD of -0.31 indicates Positive momentum. The RSI at 39.13 is Neutral, neither overbought nor oversold. The STOCH value of 24.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $5.10B | 26.69 | 62.26% | 0.76% | 29.48% | 63.03% | |
76 Outperform | $3.57B | 16.12 | 20.67% | ― | 36.30% | 27.77% | |
74 Outperform | $7.42B | 8.88 | 23.14% | <0.01% | 6.46% | 6.85% | |
74 Outperform | $72.41B | 24.74 | 19.20% | 0.58% | 19.54% | 22.23% | |
73 Outperform | $8.38B | 30.56 | 20.45% | 1.34% | 9.06% | 6.10% | |
71 Outperform | $1.11B | 19.84 | 10.62% | ― | 43.68% | 77.18% | |
63 Neutral | $12.75B | 9.36 | 8.64% | 84.32% | 13.82% | -3.89% |
* Financial Sector Average
Performance Comparison
TIGR
Up Fintech Holding
6.81
3.67
116.88%
IBKR
Interactive Brokers
173.43
66.73
62.54%
MKTX
Marketaxess Holdings
223.98
23.90
11.95%
PJT
PJT Partners
132.23
40.79
44.61%
FUTU
Futu Holdings
83.74
30.19
56.38%
XP
XP
13.73
-6.92
-33.51%
Up Fintech Holding Earnings Call Summary
Earnings Call Date: Mar 18, 2025 | % Change Since: -14.55% | 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.