TOP Financial Group Limited Class A Ordinary Shares (TOP)

FairStock Score: 46/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Mr. Market is offering a 30-employee Hong Kong online brokerage at $15.11 a share, a $30.3 million market cap, just below its 52-week high of $17.42 and far above the 61-cent low. That price is not supported by the filings. In fiscal Q1 2027, the quarter ended 2026-06-30, TOP reported revenue of $612,271 and a net loss of $113,433, or diluted EPS of -$0.02. A year earlier, in fiscal Q1 2026, revenue was $819,117 and net income was $85,992, or $0.01. The business has swung from modest profit to loss on declining revenue. Full-year filings show FY2026 revenue of $2.9 million and a net loss of $1.2 million, narrowed from an FY2025 net loss of $6.0 million on roughly $2.9 million of revenue. Losses are smaller, but the top line is stagnant and the latest quarter is weaker year over year. As a broker, I care about return on equity and book value. FairStock’s calculations show ROE of -3.83%, ROCE of -1.24%, and price-to-book of 16.42 at the 2026-10-13 close. A negative P/E is not useful; the real issue is paying more than 16 times book for a money-losing enterprise. Leverage is low—D/E 0.06—so solvency is not the immediate risk, and its Piotroski F-score of 6/9 is middling. But with FairStock revenue growth of -19.25%, profit growth of -231.91%, no dividend, a negative beta, and only two years of filed results, I cannot call this a durable franchise. The FairStock score of 46/100 fits a speculative, thinly profitable broker. CET1, NIM and combined ratio are not in the data.

In plain English: TOP Financial is a small Hong Kong online brokerage that handles stock, futures and options trades. It is losing money, with shrinking revenue and negative returns, so the business looks weak. The share price near $15 looks expensive relative to those weak numbers, though the company has very little debt.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q1 2027 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2025-06-30) · FY2026 10-K (period ended 2026-03-31) · FY2025 10-K (period ended 2025-03-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer