TOP Financial Group Limited (TOP) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q1 FY2027, filed Aug 17, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TOP SEC filings page.
TOP Financial Group Limited (TOP) reported $4.7M in revenue for fiscal year 2026, up 41.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
TOP’s dominant mechanic is a balance-sheet expansion paired with cash generation that diverges sharply from reported profitability.
The cash-flow reversal is more dramatic than the income statement: operating cash flow moved from-$14.5M in FY2025 to$14.0M in FY2026, even as net income remained negative in FY2026. That combination means earnings and cash are being shaped by different mechanics, such as working-capital or other non-cash effects, so the accounting loss alone does not describe the period’s cash movement.
Liabilities rose from
Revenue recovered from
Financial Health Signals
Scored against banks for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of TOP Financial Group Limited's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
TOP Financial Group Limited earned a return on assets of -1.4% in fiscal year 2026, which is the profit it made on every dollar of assets on its books. This is up from -12.8% the prior year. Earnings ranks banks on that return over three years, and TOP Financial Group Limited scores 9/100 among other banks.
TOP Financial Group Limited reported revenue of $4.7M in fiscal year 2026, against $3.3M in fiscal year 2025. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and TOP Financial Group Limited scores 4/100 among other banks.
TOP Financial Group Limited funded 39.4% of its assets with shareholders' equity at the end of fiscal year 2026, holding $33.9M of equity against $86.1M of assets. Capital ranks banks on that cushion, and TOP Financial Group Limited scores 90/100 among other banks.
Not available for TOP Financial Group Limited, and counted as zero in the overall score.
Not available for TOP Financial Group Limited, and counted as zero in the overall score.
TOP Financial Group Limited reported a net loss of $1.2M in fiscal year 2026, against a loss of $6.0M in fiscal year 2025. Stability ranks banks on how steady net income has been across five years, and TOP Financial Group Limited scores 1/100 among other banks.
TOP Financial Group Limited passes 3 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 3 of 4 profitability signals pass, neither operating efficiency signal passes.
TOP Financial Group Limited reported a net loss of $1.2M while generating $14.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
TOP Financial Group Limited reported an operating loss of $1.2M against $345K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
TOP Financial Group Limited generated $1.1M in revenue in Q1 2027. This represents a decrease of 19.3% from the same quarter a year earlier.
TOP Financial Group Limited's EBITDA was -$329K in Q1 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 452.3% from the same quarter a year earlier.
TOP Financial Group Limited reported -$113K in net income in Q1 2027. This represents a decrease of 231.9% from the same quarter a year earlier.
Cash & Balance Sheet
TOP Financial Group Limited generated $6.0M in free cash flow in Q1 2027, representing cash available after capex.
TOP Financial Group Limited held $10.4M in cash as of Q1 2027; long-term debt is not reported for that period.
Not reported for Q1 2027.
Margins & Returns
TOP Financial Group Limited's operating margin was -35.9% in Q1 2027, reflecting core business profitability. This is down 42.4 percentage points from the same quarter a year earlier.
TOP Financial Group Limited's net profit margin was -10.5% in Q1 2027, showing the share of revenue converted to profit. This is down 17.0 percentage points from the same quarter a year earlier.
TOP Financial Group Limited's ROE was -0.3% in Q1 2027, measuring profit generated per dollar of shareholder equity. This is down 0.6 percentage points from the same quarter a year earlier.
Not reported for Q1 2027.
Capital Allocation
TOP Financial Group Limited invested $3K in capex in Q1 2027, funding long-term assets and infrastructure.
Not reported for Q1 2027.
Not reported for Q1 2027.
TOP Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2710-Q | Q4'2610-Q | Q2'266-K | Q1'2610-Q | Q4'2510-K | Q2'2510-Q | Q4'2420-F | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1M-19.3% | N/A | N/A | $1.3M | N/A | N/A | N/A | N/A |
| Operating Income | -$387K-550.0% | N/A | N/A | $86K | N/A | N/A | N/A | N/A |
| EBITDA | -$329K-452.3% | N/A | N/A | $93K | N/A | N/A | N/A | N/A |
| Income Tax | -$273K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$113K-231.9% | N/A | N/A | $86K | N/A | N/A | N/A | N/A |
| EPS (Basic) | -$0.02-300.0% | N/A | N/A | $0.01 | N/A | N/A | N/A | N/A |
| EPS (Diluted) | -$0.02 | N/A | N/A | $0.01 | N/A | N/A | N/A | N/A |
| Diluted Shares (Avg) | 7M | N/A | N/A | 7M | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Interest Expense.
TOP Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2710-Q | Q4'2610-Q | Q2'266-K | Q1'2610-Q | Q4'2510-K | Q2'2510-Q | Q4'2420-F | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $158.4M | $86.1M+83.9% | $64.1M+6.6% | N/A | $46.8M-18.8% | $60.1M+40.0% | $57.6M+43.1% | $42.9M+11.1% |
| Cash & Equivalents | $10.4M-52.8% | $13.0M+6.2% | $14.8M+16.3% | $22.1M | $12.2M-52.8% | $12.7M-51.0% | $25.9M+62.3% | $25.9M+10.4% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $3.1M | $3.1M-13.7% | $4.3M+23.4% | $0 | $3.6M+82.0% | $3.5M+1266.6% | $2.0M+681.6% | $256K+28.2% |
| Goodwill | $26K | $26K | $26K | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $121.4M | $51.8M+334.9% | $29.1M+44.3% | N/A | $11.9M-30.4% | $20.2M+414.2% | $17.1M+295.0% | $3.9M-4.4% |
| Total Equity | $36.7M+5.3% | $33.9M-2.7% | $35.0M-12.4% | $34.8M | $34.9M-13.9% | $39.9M+2.4% | $40.5M+12.7% | $39.0M+13.0% |
| Retained Earnings | $4.5M | $4.6M-20.4% | $5.9M-47.3% | N/A | $5.7M-51.0% | $11.3M-17.4% | $11.7M+9.9% | $13.6M+49.7% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities, Long-Term Debt.
TOP Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2710-Q | Q4'2610-Q | Q2'266-K | Q1'2610-Q | Q4'2510-K | Q2'2510-Q | Q4'2420-F | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $6.0M-15.5% | N/A | $153K | $7.1M | N/A | N/A | N/A | N/A |
| Depreciation & Amortization | $58K+671.5% | N/A | $668 | $7K | N/A | N/A | N/A | N/A |
| Capital Expenditures | $3K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | $6.0M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | $7.8M+3502.2% | N/A | $1.4M | -$230K | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Stock-Based Compensation, Financing Cash Flow, Dividends Paid, Share Buybacks.
TOP Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2710-Q | Q4'2610-Q | Q2'266-K | Q1'2610-Q | Q4'2510-K | Q2'2510-Q | Q4'2420-F | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -35.9%-42.4pp | N/A | N/A | 6.5% | N/A | N/A | N/A | N/A |
| Net Margin | -10.5%-17.0pp | N/A | N/A | 6.5% | N/A | N/A | N/A | N/A |
| Return on Equity | -0.3%-0.6pp | N/A | N/A | 0.3% | N/A | N/A | N/A | N/A |
| Return on Assets | -0.1% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 3.31 | 1.53+1.2x | 0.83+0.3x | N/A | 0.34-0.1x | 0.51+0.4x | 0.42+0.3x | 0.100.0x |
| Asset Turnover | 0.01 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Margin | 560.2% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, Current Ratio.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| TOP Financial Group Limited TOP | FY2026 | $4.7M | -$1.2M | -24.8% | $1.8B | 17/100 |
| HERITAGE GLOBAL INC HGBL | FY2025 | $51.0M | $3.6M | 7.0% | $48.8M | 38/100 |
| Metalpha Technology Holding Limited MATH | FY2021 | $226K | -$5.1M | N/A | $41.3M | — |
| Siebert Financial Corp SIEB | FY2025 | $94.2M | $5.1M | 5.4% | $111.0M | 43/100 |
| Dominari Holdings Inc. DOMH | FY2025 | $123.1M | -$22.4M | -18.2% | $52.9M | 40/100 |
Where TOP Financial Group Limited Ranks
Frequently Asked Questions
What is TOP Financial Group Limited's annual revenue?
TOP Financial Group Limited (TOP) reported $4.7M in total revenue for fiscal year 2026. This represents a 41.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is TOP Financial Group Limited's revenue growing?
TOP Financial Group Limited (TOP) revenue grew by 41.9% year-over-year, from $3.3M to $4.7M in fiscal year 2026.
Is TOP Financial Group Limited profitable?
No, TOP Financial Group Limited (TOP) reported a net income of -$1.2M in fiscal year 2026, with a net profit margin of -24.8%.
What is TOP Financial Group Limited's EBITDA?
TOP Financial Group Limited (TOP) had EBITDA of -$1.1M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
What is TOP Financial Group Limited's operating margin?
TOP Financial Group Limited (TOP) had an operating margin of -24.9% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is TOP Financial Group Limited's net profit margin?
TOP Financial Group Limited (TOP) had a net profit margin of -24.8% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is TOP Financial Group Limited's return on equity (ROE)?
TOP Financial Group Limited (TOP) has a return on equity of -3.5% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is TOP Financial Group Limited's free cash flow?
TOP Financial Group Limited (TOP) generated $13.1M in free cash flow during fiscal year 2026. This represents a 190.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is TOP Financial Group Limited's operating cash flow?
TOP Financial Group Limited (TOP) generated $14.0M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are TOP Financial Group Limited's total assets?
TOP Financial Group Limited (TOP) had $86.1M in total assets as of fiscal year 2026, including both current and long-term assets.
What are TOP Financial Group Limited's capital expenditures?
TOP Financial Group Limited (TOP) invested $900K in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
What is TOP Financial Group Limited's debt-to-equity ratio?
TOP Financial Group Limited (TOP) had a debt-to-equity ratio of 1.53 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is TOP Financial Group Limited's return on assets (ROA)?
TOP Financial Group Limited (TOP) had a return on assets of -1.4% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is TOP Financial Group Limited's P/E ratio?
TOP Financial Group Limited (TOP) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2026). The market capitalization is $1.8B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is TOP Financial Group Limited's price-to-sales ratio?
TOP Financial Group Limited (TOP) trades at 383x sales, its market capitalization divided by revenue of $4.7M revenue, FY2026. The market capitalization is $1.8B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is TOP Financial Group Limited's Piotroski F-Score?
TOP Financial Group Limited (TOP) has a Piotroski F-Score of 3 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are TOP Financial Group Limited's earnings high quality?
TOP Financial Group Limited (TOP) reported a net loss of $1.2M while generating $14.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can TOP Financial Group Limited cover its interest payments?
TOP Financial Group Limited (TOP) reported an operating loss of $1.2M against $345K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is TOP Financial Group Limited?
TOP Financial Group Limited (TOP) scores 17 out of 100 on our Financial Health Score, indicating weak standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.