The company maintains a conservative financial profile with a debt-to-equity ratio of 0.23 as of 2025Q2, supporting a strengthened equity base that has transitioned to $112.3M in retained earnings.
| Total Current Assets | 8.49B | 8.12B | 6.33B | 3.69B | 3.74B | 3.27B | 2.15B | 769.75M | 102.91M | 28.14M | 14.75M |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 3.61B | 0 | 2.47B | 1.62B | 1.68B | 1.43B | 868.26M | 318.33M | 6.89M | 1.74M | 0 |
| Total Non-Current Assets | 75.13M | 108.56M | 6B | 56.08M | 58.78M | 50.15M | 40.1M | 39.31M | 12.31M | 7.87M | 9.61M |
| Property, Plant & Equipment | 29.47M | 26.04M | 26.24M | 14.26M | 20.27M | 11.76M | 8.91M | 7.19M | 1.33M | 839.26K | 576.79K |
| Fixed Asset Turnover | 17.29x | 23.57x | 14.92x | 19.11x | 11.12x | 22.50x | 15.54x | 8.15x | 25.14x | 20.20x | 9.49x |
| Goodwill | 2.49M | 0 | 2.49M | 2.49M | 2.49M | 2.49M | 2.42M | 2.42M | 0 | 0 | 0 |
| Intangible Assets | 0 | 2.49M | 11.18M | 11.24M | 10.19M | 8.89M | 8.06M | 8.07M | 995.65K | 242.3K | 240.69K |
| Long-Term Investments | 82.87M | 10.59M | 19.23M | 11.81M | 7.93M | 9.78M | 6.48M | 6.02M | 2.39M | 2.19M | 0 |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 8.57B | 8.23B | 6.39B | 3.75B | 3.8B | 3.32B | 2.19B | 809.06M | 115.22M | 36M | 24.36M |
| Asset Turnover | 0.07x | 0.07x | 0.06x | 0.07x | 0.06x | 0.08x | 0.06x | 0.07x | 0.29x | 0.47x | 0.22x |
| Asset Growth % | 315.28% | 28.71% | 70.61% | -1.35% | 14.33% | 51.5% | 170.97% | 602.22% | 220% | 47.78% | - |
| Total Current Liabilities | 7.8B | 117.96M | 5.56B | 3.09B | 3.18B | 2.72B | 1.95B | 587.59M | 16.99M | 8.05M | 3.17M |
| Accounts Payable | 7.5B | 0 | 5.49B | 3.03B | 3.14B | 2.51B | 1.7B | 513.84M | 6.56M | 1.25M | 0 |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 160.82M | 117.96M | 9.94M | 6.84M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | -6.06M | 0 | -31.84M | -4.13M | 2.63M | 3.14M | 327.63K | 309.94K | 683.73K | 153.28K | 0 |
| Current Ratio | 1.09x | 68.82x | 1.14x | 1.20x | 1.18x | 1.20x | 1.10x | 1.31x | 6.06x | 3.50x | 4.65x |
| Quick Ratio | 1.09x | 68.82x | 1.14x | 1.20x | 1.18x | 1.20x | 1.10x | 1.31x | 6.06x | 3.50x | 4.65x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 9.97M | 7.24B | 5.66B | 171.77M | 169.82M | 154.85M | 5.26M | 9.53M | 124.11M | 43.25M | 0 |
| Long-Term Debt | 0 | 51M | 159.5M | 156.89M | 154.34M | 148.84M | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 7.81B | 7.36B | 5.73B | 3.25B | 3.35B | 2.87B | 1.96B | 597.12M | 141.09M | 51.3M | 3.17M |
| Total Debt | 174.52M | 173.16M | 179.5M | 172.64M | 168.22M | 154.54M | 7.21M | 5.84M | 0 | 0 | 0 |
| Net Debt | -337.42M | -4.02B | -214.08M | -149.96M | -109.44M | -114.51M | -72.45M | -53.57M | -34.41M | -16.46M | -14.75M |
| Debt / Equity | 0.23x | 0.20x | 0.27x | 0.35x | 0.38x | 0.35x | 0.03x | 0.03x | - | - | - |
| Debt / EBITDA | 0.78x | 0.59x | 1.21x | 1.94x | 5.72x | 8.13x | 0.20x | - | - | - | - |
| Net Debt / EBITDA | -1.50x | -13.72x | -1.45x | -1.68x | -3.72x | -6.03x | -2.02x | - | - | - | - |
| Interest Coverage | 3.26x | 3.83x | 2.34x | 1.98x | 1.11x | 0.96x | 3.18x | -1.27x | - | - | - |
| Total Equity | 759.43M | 870.18M | 662.12M | 495.42M | 446.99M | 446.63M | 235.69M | 211.94M | -25.88M | -15.3M | 20.82M |
| Equity Growth % | 133.99% | 31.42% | 33.65% | 10.84% | 0.08% | 89.5% | 11.2% | 919% | -69.18% | -173.45% | - |
| Book Value per Share | 4.10 | 4.65 | 3.92 | 3.06 | 2.92 | 2.87 | 1.64 | 1.50 | -0.19 | -0.14 | 0.19 |
| Total Shareholders' Equity | 753.99M | 865.51M | 655.23M | 488.98M | 447.13M | 446.63M | 235.69M | 211.94M | -24.41M | -14.83M | 20.71M |
| Common Stock | 26.66K | 26.78K | 26.4K | 23.5K | 23.19K | 22.82K | 21.32K | 21.15K | 5.54K | 0 | 357.34K |
| Retained Earnings | 112.27M | 208.41M | 37.84M | -19.6M | -50.37M | -45.79M | -59.58M | -73.7M | -66.39M | -23.18M | -15.67M |
| Treasury Stock | -2.17M | -2.17M | -2.17M | -2.17M | -2.17M | -2.17M | -2.17M | 0 | 0 | 0 | 0 |
| Accumulated OCI | 16.36M | 25.04M | 506.15K | 5.28M | 3.94M | 10.23M | 5.59M | -142.41K | -544.99K | 206.73K | 29.09M |
| Minority Interest | 5.44M | 4.67M | 6.89M | 6.45M | -142.64K | 0 | 0 | 0 | -1.47M | -464.88K | 110.82K |
Regulatory and geopolitical volatility
As reported in recent financial statements, TIGR has successfully transitioned from a period of negative retained earnings to a positive balance of $112.3M by 2025Q2, signaling a fundamental improvement in the firm's internal capital generation capabilities and overall balance sheet quality over the last ten quarters.
The consistent growth in equity from $457.9M in 2023Q1 to $754.0M in 2025Q2 suggests that the company is effectively retaining earnings to bolster its capital base. This trajectory implies a reduced reliance on external financing to support ongoing operations, which may provide a more stable foundation for future geographic expansion.
Based on the provided figures, TIGR maintains a disciplined debt-to-equity ratio of 0.23 as of 2025Q2, which appears remarkably stable despite the company's significant expansion in total assets from $3.8B to $8.6B over the observed period, indicating a strategic approach to managing financial leverage.
The relatively low debt load suggests that the firm is not over-leveraging its balance sheet to fund its rapid growth, which is a positive indicator for long-term solvency. Investors should monitor whether this conservative stance persists as the company scales its operations in more capital-intensive regulatory environments.
According to the latest quarterly data, TIGR holds $805.1M in cash and equivalents, maintaining a current ratio of 1.09, which suggests the firm possesses sufficient short-term liquidity to navigate market volatility and satisfy the stringent capital requirements often imposed by international financial regulators in new jurisdictions.
While the current ratio has tightened slightly from 1.18 in 2023Q1, the absolute increase in cash reserves provides a meaningful buffer against potential operational shocks. This liquidity position appears adequate to support the firm's ongoing marketing and technology investments without necessitating immediate dilutive capital raises.
As indicated by the discrepancy between total assets of $8.6B and a net equity base of $754.0M, the balance sheet is heavily dominated by client-related assets, which warrants careful interpretation as these figures do not represent the firm's own capital or its true operational risk profile.
The massive scale of total assets relative to equity highlights that the majority of the balance sheet is comprised of segregated client funds rather than proprietary assets. Analysts should focus on the equity and retained earnings trends to assess the firm's actual financial health, as the headline asset figure is largely a function of client trading activity.
Quick answers to the most common questions about buying TIGR stock.
As of 2025, UP Fintech Holding Ltd. Sponsored ADR Class A (TIGR) had total assets of $8.23B including $8.12B in current assets.
UP Fintech Holding Ltd. Sponsored ADR Class A (TIGR) carries total debt of $173.2M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
UP Fintech Holding Ltd. Sponsored ADR Class A (TIGR) has total shareholders' equity (book value) of $865.5M ($4.65 book value per share). Book value represents the net worth of the company belonging to common stock holders.
UP Fintech Holding Ltd. Sponsored ADR Class A (TIGR) reported a current ratio of 68.82x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.