Last 30 quarters of trend data · Financial Services · Financial - Capital Markets
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Futu Holdings Limited's quarterly P/E stands at 1.7x, down 11.2% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has expanded 63.7% YoY to 1.6x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 29.11 | 1.69 | 1.67 | 1.50 | 2.53 | 1.90 | 1.82 | 2.16 | 1.84 | 1.24 | 1.53 | 1.49 | 1.77 |
| — | -11.2% | -8.0% | -30.7% | +37.4% | +52.9% | +19.0% | +44.6% | +4.4% | -57.4% | -27.9% | -55.8% | -69.6% | |
| P/S Ratio | 29.61 | 0.82 | 0.77 | 0.63 | 0.97 | 0.73 | 0.73 | 0.80 | 0.76 | 0.56 | 0.73 | 0.63 | 0.68 |
| — | +11.7% | +5.5% | -21.0% | +28.7% | +31.0% | -0.6% | +27.5% | +11.1% | -47.8% | -0.7% | -41.1% | -67.0% | |
| P/B Ratio | 5.66 | 0.52 | 0.48 | 0.40 | 0.47 | 0.34 | 0.29 | 0.31 | 0.34 | 0.25 | 0.33 | 0.27 | 0.26 |
| — | +53.2% | +61.9% | +29.5% | +38.1% | +37.4% | -10.8% | +12.6% | +29.8% | -35.3% | +38.6% | -15.7% | -60.3% | |
| P/FCF | 13.05 | — | — | — | — | — | — | — | — | — | — | 1.11 | — |
| — | — | — | — | — | — | — | — | — | — | — | -48.4% | — | |
| EV / EBITDA | 58.74 | 1.57 | 1.78 | 0.91 | 1.26 | 0.96 | 1.04 | 2.09 | 1.51 | 1.31 | 1.19 | 0.73 | 2.94 |
| — | +63.7% | +71.7% | -56.4% | -16.4% | -27.0% | -12.4% | +186.5% | -48.7% | -57.8% | -63.9% | -92.8% | -71.4% | |
| EV / EBIT | 60.30 | 1.57 | 1.78 | 0.91 | 1.26 | 0.96 | 1.04 | 2.09 | 1.51 | 1.31 | 1.19 | 0.76 | 3.04 |
| — | +63.7% | +71.7% | -56.4% | -16.4% | -27.0% | -12.4% | +176.0% | -50.3% | -57.8% | -63.9% | -93.0% | -71.8% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Futu Holdings Limited's operating margin was 63.0% in Q2 2025, up 5.8 pp QoQ and up 15.7 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 55.1% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 7.0% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.0% | 87.4% | 84.0% | 82.5% | 81.8% | 81.6% | 81.9% | 81.7% | 83.5% | 84.9% | 88.4% | 85.0% | 88.8% |
| — | +7.0% | +2.7% | +0.9% | -2.0% | -3.9% | -7.4% | -3.8% | -6.0% | -3.6% | +2.6% | -1.7% | +5.0% | |
| Operating Margin | 48.7% | 63.0% | 57.2% | 50.0% | 50.4% | 47.3% | 46.0% | 43.1% | 49.8% | 50.6% | 56.2% | 49.1% | 49.7% |
| — | +33.1% | +24.3% | +16.0% | +1.2% | -6.6% | -18.1% | -12.2% | +0.3% | +8.3% | +38.7% | +40.5% | +22.8% | |
| Net Margin | 40.1% | 48.5% | 45.7% | 42.2% | 38.4% | 38.7% | 40.0% | 37.0% | 41.2% | 45.1% | 47.7% | 42.0% | 38.8% |
| — | +25.1% | +14.1% | +14.1% | -6.6% | -14.0% | -16.0% | -12.0% | +6.2% | +22.7% | +36.8% | +35.1% | +9.1% |
| Metric | TTM | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 20.7% | 8.1% | 7.4% | 6.6% | 4.8% | 4.6% | 4.1% | 3.7% | 4.8% | 5.0% | 5.5% | 4.7% | 3.8% |
| — | +75.6% | +78.1% | +81.7% | +0.6% | -8.1% | -25.3% | -21.8% | +25.1% | +56.0% | +100.1% | +99.3% | +31.1% | |
| ROA | 4.3% | 1.4% | 1.3% | 1.2% | 1.0% | 1.1% | 1.0% | 0.9% | 1.1% | 1.1% | 1.2% | 1.0% | 0.7% |
| — | +27.9% | +24.5% | +36.7% | -8.0% | +0.1% | -14.4% | -9.0% | +49.5% | +77.8% | +114.3% | +106.2% | +38.6% | |
| ROIC | 14.8% | 5.9% | 5.2% | 4.8% | 4.0% | 3.6% | 3.0% | 2.6% | 3.5% | 3.4% | 4.0% | 2.9% | 2.3% |
| — | +66.8% | +73.5% | +84.9% | +11.9% | +5.6% | -26.0% | -12.0% | +51.4% | +61.1% | +194.4% | +189.1% | +113.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Futu Holdings Limited's Debt/EBITDA ratio is 2.9x, down from 4.2x last quarter — at a moderate level that warrants monitoring. The current ratio has weakened 6.3% YoY to 1.18x, tightening the short-term liquidity position.
| Metric | TTM | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.31 | 0.29 | 0.37 | 0.31 | 0.15 | 0.22 | 0.16 | 0.24 | 0.22 | 0.21 | 0.30 | 0.13 | 0.66 |
| — | +35.0% | +134.9% | +27.4% | -30.5% | +2.9% | -47.6% | +85.8% | -66.3% | -53.7% | -37.6% | -87.6% | -21.1% | |
| Debt / EBITDA | 1.26 | 2.93 | 4.18 | 3.86 | 2.53 | 3.96 | 3.40 | 5.75 | 3.96 | 3.77 | 4.76 | 2.31 | 13.34 |
| — | -26.0% | +23.1% | -32.9% | -36.0% | +5.0% | -28.6% | +148.6% | -70.3% | -65.5% | -67.8% | -93.7% | -45.6% | |
| Current Ratio | 1.19 | 1.18 | 1.18 | 1.19 | 1.23 | 1.26 | 1.29 | 1.32 | 1.30 | 1.26 | 1.25 | 1.28 | 1.26 |
| — | -6.3% | -9.2% | -9.4% | -5.9% | +0.3% | +3.7% | +3.0% | +3.7% | +4.7% | +2.9% | +5.8% | -9.2% | |
| Quick Ratio | 1.19 | 1.18 | 1.18 | 1.19 | 1.23 | 1.26 | 1.29 | 1.32 | 1.30 | 1.26 | 1.25 | 1.28 | 1.26 |
| — | -6.3% | -9.2% | -9.4% | -5.9% | +0.3% | +3.7% | +3.0% | +3.7% | +4.7% | +2.9% | +5.8% | -9.2% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | 5.71 | 10.74 | 6.16 | 21.62 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 30 years · Updated daily
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Futu Holdings Limited's current P/E is 29.1x. The average P/E over the last 4 quarters is 1.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Futu Holdings Limited's current operating margin is 48.7%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Futu Holdings Limited's business trajectory between earnings reports.