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Up Fintech Holding (TIGR)
:TIGR
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Up Fintech Holding
(NASDAQ:TIGR)
Rating:74Outperform
Price Target:
$11.00
▲(12.02%Upside)
Positive Factors
Asset Inflow
Client asset balance grows strongly, driven by stronger-than-expected net asset inflow, mainly from the Greater China region.
Client Growth
TIGR added 60.9k new paying customers, accounting for approximately 40% of management's 2025 new paying customer target.
Profitability
Operating profit excluding share-based compensation grew significantly, indicating strong financial performance.
Negative Factors
Competition
Intensifying competition could lead to lower commission rates or higher selling and marketing costs.
Guidance and Expectations
Management guided new client addition of 150k for the fiscal year, which is a 20% decrease year-on-year.
Market Conditions
Unfavorable market conditions may suppress trading and margin financing activities.
Up Fintech Holding (TIGR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.73B
Dividend YieldN/A
Average Volume (3M)5.67M
Price to Earnings (P/E)22.3
Beta (1Y)1.48
Revenue Growth52.63%
EPS Growth96.46%
CountryUS
Employees1,193
SectorFinancial
Sector Strength75
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.20
Shares Outstanding180,388,440
10 Day Avg. Volume5,797,579
30 Day Avg. Volume5,668,450
Financial Highlights & Ratios
PEG Ratio0.63
Price to Book (P/B)2.36
Price to Sales (P/S)0.00
P/FCF Ratio2.12
Enterprise Value/Market Cap0.87
Enterprise Value/Revenue1.15
Enterprise Value/Gross Profit5.40
Enterprise Value/Ebitda3.21
Forecast
1Y Price Target
$8.63Price Target Upside-12.12% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering2
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 through various revenue streams, primarily centered around its brokerage services. The company earns commission fees from trades executed on its platform, including stocks, options, and futures. Additionally, it generates income from interest on margin financing, securities lending, and customer account cash balances. Up Fintech also offers subscription-based premium services, providing clients with advanced analytical tools and data services. Furthermore, the firm leverages significant partnerships with various financial institutions to enhance its product offerings and expand market reach, contributing to its overall revenue growth.
Up Fintech Holding Earnings Call Summary
Earnings Call Date:May 30, 2025
(Q1-2025)
| % Change Since: 16.49%|
Next Earnings Date:Sep 04, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant achievements in revenue growth, trading volume, and client asset expansion, alongside strategic advancements in AI and market positioning in Hong Kong. However, there were concerns regarding a slight decrease in interest income, increased operating costs, and higher customer acquisition costs. Despite these lowlights, the overall performance and strategic initiatives suggest a positive outlook.Q1-2025 Updates
Positive Updates
Record Revenue Growth
Total revenue reached $122.6 million, up 55.3% year-over-year.
Strong Trading Volume and Commission Income
Total trading volume reached $217 billion, and commission income hit a record-high of $58.3 million, more than doubling year-over-year.
Increase in Marketing, Financing and Securities Lending Balance
Balance increased to $5.2 billion, up 89.4% year-over-year.
Non-GAAP and GAAP Net Income Growth
Non-GAAP net income increased to $36 million, reflecting an 18.3% sequential increase and a 145% increase year-over-year. GAAP net income reached $30.4 million, up 8.4% quarter-over-quarter and 146.7% year-over-year.
Growth in Funded Accounts
Added 60,900 new funded accounts, representing a 2.9% increase quarter-over-quarter and 111.2% growth year-over-year.
Record Client Asset Levels
Total client assets reached $45.9 billion, up 9.9% quarter-over-quarter and 39.5% year-over-year.
AI and Product Enhancements
Upgraded TigerGPT to TigerAI, improving user satisfaction to over 80%.
Hong Kong Market Expansion
Received approval to offer virtual asset trading in Hong Kong, enhancing market presence.
Negative Updates
Interest Income Slight Decrease
Interest income slightly decreased 4% quarter-over-quarter due to maturity of US treasury holdings.
Increased Operating Costs
Total operating costs were $67.1 million, an increase of 32% from the same quarter of last year.
Higher Customer Acquisition Cost (CAC)
Average CAC is expected to rise to around $250 to $300 from previous $150 to $180.
Company Guidance
During the first quarter of 2025, UP Fintech Holding Limited demonstrated significant growth across various metrics. The company reported a total revenue of $122.6 million, marking a 55.3% increase year-over-year, with a record-high commission income of $58.3 million, more than doubling from the previous year. Trading volume reached $217 billion, while marketing, financing, and securities lending balance rose to $5.2 billion, an 89.4% increase year-over-year. Net interest income was $53.8 million, up 22.7% from the previous year. The company added 60,900 new funded accounts, achieving over 40% of its annual target, with total client assets reaching a record $45.9 billion. Non-GAAP net income surged to $36 million, reflecting an 18.3% quarterly increase and a 145% year-over-year rise, while GAAP net income reached $30.4 million, up 8.4% quarter-over-quarter and 146.7% year-over-year. The company also highlighted strategic market expansions, particularly in Hong Kong, and enhancements in AI capabilities and cryptocurrency offerings.Up Fintech Holding Financial Statement Overview
Summary
Up Fintech Holding has shown strong revenue growth and improved profitability, with a solid equity base and low debt levels. However, inconsistencies in cash flow generation raise concerns about operational sustainability and liquidity.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 | 391.54M | 272.51M | 225.37M | 264.49M | 138.50M |
| Gross Profit | 254.52M | 162.67M | 89.34M | 127.81M | 65.71M |
| EBITDA | 141.89M | 82.64M | 4.47M | 19.00M | 21.03M |
| Net Income | 60.73M | 32.56M | -2.26M | 14.69M | 16.06M |
Balance Sheet | |||||
| Total Assets | 6.39B | 3.75B | 3.80B | 3.32B | 2.19B |
| Cash, Cash Equivalents and Short-Term Investments | 470.20M | 751.66M | 441.14M | 276.01M | 98.91M |
| Total Debt | 169.56M | 165.80M | 13.88M | 154.54M | 7.21M |
| 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 | 826.42M | -9.33M | 253.17M | 408.24M | 534.30M |
| Operating Cash Flow | 827.98M | -6.57M | 258.06M | 413.20M | 535.28M |
| Investing Cash Flow | -8.66M | -7.75M | -3.61M | 10.92M | 43.56M |
| Financing Cash Flow | 103.83M | 1.82M | 4.73M | 330.88M | -8.37M |
Up Fintech Holding Technical Analysis
Positive
9.82
Price Trends
9.09
Positive
8.43
Positive
7.67
Positive
Market Momentum
0.37
Negative
57.00
Neutral
50.80
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 9.82 is above the 20-day moving average (MA) of 9.48, above the 50-day MA of 9.09, and above the 200-day MA of 7.67, indicating a bullish trend. The MACD of 0.37 indicates Negative momentum. The RSI at 57.00 is Neutral, neither overbought nor oversold. The STOCH value of 50.80 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 (67)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $25.99B | 32.92 | 19.15% | 2.15% | 12.25% | 20.76% | |
78 Outperform | $6.49B | 23.97 | 23.44% | ― | 56.04% | 58.58% | |
78 Outperform | $9.60B | 11.65 | 21.71% | 3.55% | -2.79% | 1.33% | |
74 Outperform | $1.73B | 22.25 | 13.18% | ― | 52.63% | 96.46% | |
70 Outperform | $8.05B | 37.26 | 16.25% | 1.42% | 7.22% | -15.53% | |
70 Outperform | $6.24B | 31.46 | 96.33% | 0.56% | 16.04% | 60.32% | |
67 Neutral | ¥718.95B | 10.85 | 7.55% | 3.30% | 7.89% | 15.53% |
* Financial Sector Average
Performance Comparison
TIGR
Up Fintech Holding
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.