TOP Financial Group (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 Oct 28, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2027, filed Oct 28, 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).
Cash generation has recovered despite continuing losses, while FY2026 liabilities became a much larger claim on the balance sheet.
FY2026 paired a net loss of$1.17M with operating cash flow of$14.0M , so reported earnings and cash conversion moved in opposite directions. Because free cash flow reached$13.1M and its margin was277.8% , the cash result was not primarily explained by profitability; non-earnings or balance-sheet movements were doing the work.
The operating rebound is incomplete: revenue increased
Funding became more liability-heavy: total liabilities rose
Financial Health Signals
Scored against banks for FY2026. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 4 of 6, with the others left out rather than counted as zero. 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 91/100 among other banks.
Not available for TOP Financial Group Limited, so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Not available for TOP Financial Group Limited, so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
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, the one computable operating efficiency signal (asset turnover improving) does not pass.
Key Financial Metrics
Earnings & Revenue
TOP Financial Group Limited generated $2.2M in revenue in Q2 2027. This represents an increase of 43.9% from the same quarter a year earlier. Against the prior quarter it is up 105.3%.
TOP Financial Group Limited's EBITDA was $333K in Q2 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 216.7% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
TOP Financial Group Limited reported $274K in net income in Q2 2027. This represents an increase of 162.3% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Cash & Balance Sheet
TOP Financial Group Limited recorded an outflow of $8.4M in free cash flow in Q2 2027, representing a cash shortfall after capex. Against the prior quarter it is down 239.7%.
TOP Financial Group Limited held $8.9M in cash against $637K in long-term debt as of Q2 2027.
Not reported for Q2 2027.
Margins & Returns
TOP Financial Group Limited's operating margin was 12.4% in Q2 2027, reflecting core business profitability. This is up 5.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 48.4 percentage points.
TOP Financial Group Limited's net profit margin was 12.4% in Q2 2027, showing the share of revenue converted to profit. This is up 5.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 22.9 percentage points.
TOP Financial Group Limited's quarterly ROE was 0.2% in Q2 2027: one quarter's net income over shareholder equity, not annualized. This is down 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.5 percentage points.
Not reported for Q2 2027.
Capital Allocation
TOP Financial Group Limited invested $7K in capex in Q2 2027, funding long-term assets and infrastructure. Against the prior quarter it is up 119.1%.
Not reported for Q2 2027.
Not reported for Q2 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 | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q2'2510-Q | Q4'2420-F |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.2M+43.9% | $1.1M-19.3% | N/A | $1.5M | $1.3M | N/A | N/A | N/A |
| Operating Income | $274K+162.4% | -$387K-550.0% | N/A | $105K | $86K | N/A | N/A | N/A |
| EBITDA | $333K+216.7% | -$329K-452.3% | N/A | $105K | $93K | N/A | N/A | N/A |
| Income Tax | $83 | -$273K | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | $274K+162.3% | -$113K-231.9% | N/A | $105K | $86K | N/A | N/A | N/A |
| EPS (Basic) | $0.00 | -$0.02 | N/A | $0.01 | $0.01 | N/A | N/A | N/A |
| EPS (Diluted) | $0.00 | -$0.02 | N/A | $0.01 | $0.01 | N/A | N/A | N/A |
| Diluted Shares (Avg) | 104M | 7M | N/A | 7M | 7M | 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 | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q2'2510-Q | Q4'2420-F |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $171.6M+167.8% | $158.4M | $86.1M+83.9% | $64.1M+6.6% | N/A | $46.8M-18.8% | $60.1M+40.0% | $57.6M+43.1% |
| Cash & Equivalents | $8.9M-39.8% | $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% |
| Long-Term Investments | $3.1M-27.2% | $3.1M | $3.1M-13.7% | $4.3M+23.4% | N/A | $3.6M+82.0% | $3.5M+1266.6% | $2.0M+681.6% |
| Goodwill | $26K0.0% | $26K | $26K | $26K | N/A | N/A | N/A | N/A |
| Total Liabilities | $54.2M+86.3% | $121.4M | $51.8M+334.9% | $29.1M+44.3% | N/A | $11.9M-30.4% | $20.2M+414.2% | $17.1M+295.0% |
| Long-Term Debt | $637K | $638K | $638K | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $117.0M+234.8% | $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% |
| Retained Earnings | $4.7M-20.2% | $4.5M | $4.6M-20.4% | $5.9M-47.3% | N/A | $5.7M-51.0% | $11.3M-17.4% | $11.7M+9.9% |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities.
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 | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q2'2510-Q | Q4'2420-F |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$8.4M-301.0% | $6.0M-15.5% | N/A | $4.2M | $7.1M | N/A | N/A | N/A |
| Depreciation & Amortization | $59K+8711.2% | $58K+671.5% | N/A | $668 | $7K | N/A | N/A | N/A |
| Capital Expenditures | $7K | $3K | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | -$8.4M | $6.0M | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$3.1Mn/m | $7.8Mn/m | N/A | -$2.6M | -$230K | 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 | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q2'2510-Q | Q4'2420-F |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 12.4%+5.6pp | -35.9%-42.4pp | N/A | 6.8% | 6.5% | N/A | N/A | N/A |
| Net Margin | 12.4%+5.6pp | -10.5%-17.0pp | N/A | 6.8% | 6.5% | N/A | N/A | N/A |
| Return on Equity | 0.2%-0.1pp | -0.3%-0.6pp | N/A | 0.3% | 0.3% | N/A | N/A | N/A |
| Return on Assets | 0.2%0.0pp | -0.1% | N/A | 0.2% | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.01 | 0.02 | 0.02 | N/A | N/A | N/A | N/A | N/A |
| Liabilities-to-Equity | 0.46-0.4x | 3.31 | 1.53+1.2x | 0.83+0.3x | N/A | 0.34-0.1x | 0.51+0.4x | 0.42+0.3x |
| Asset Turnover | 0.010.0x | 0.01 | N/A | 0.02 | N/A | N/A | N/A | N/A |
| FCF Margin | -381.4% | 560.2% | 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% | $1.9B | 26/100 |
| HERITAGE GLOBAL INC HGBL | FY2025 | $51.0M | $3.6M | 7.0% | $44.7M | 58/100 |
| Scully Royalty Ltd. SRL | FY2024 | $24.5M | -$14.3M | -58.3% | $67.3M | 30/100 |
| Metalpha Technology Holding Limited MATH | FY2026 | $37.1M | $1.3M | 3.5% | $46.1M | 58/100 |
| Siebert Financial Corp SIEB | FY2025 | $94.2M | $5.1M | 5.4% | $75.4M | 65/100 |
| Dominari Holdings Inc. DOMH | FY2025 | $123.1M | -$22.4M | -18.2% | $41.9M | 60/100 |
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 loss 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.
How much debt does TOP Financial Group Limited have?
As of fiscal year 2026, TOP Financial Group Limited (TOP) had $13.0M in cash and equivalents against $638K in long-term debt.
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. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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 0.02 as of fiscal year 2026. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is TOP Financial Group Limited's liabilities-to-equity ratio?
TOP Financial Group Limited (TOP) had a liabilities-to-equity ratio of 1.53 as of fiscal year 2026, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-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 $1.9B as of Oct 28, 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 409x sales, its market capitalization divided by $4.7M revenue, FY2026. The market capitalization is $1.9B as of Oct 28, 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.
How financially healthy is TOP Financial Group Limited?
TOP Financial Group Limited (TOP) scores 26 out of 100 on our Financial Health Score, indicating weak standing within its banks peer group. The score is the average 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. For TOP Financial Group Limited it averages the 4 of 6 dimensions that can be computed; the others are left out rather than counted as zero. 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.