NASDAQ · Financial Statements

TOP Financial Group Limited (TOP) Financial Statements

$15.29 NASDAQ: TOP Market Cap $1.86B

TOP Financial Group Limited most recently reported annual revenue of $5.0M, a net loss of $1.0M. Revenue declined at an average annual rate of 21.7% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

TOP Financial Group Limited: Revenue fell from $11.0M in 2019 to $5.0M in 2026, a change of -54.5% over 7 years; net profit was positive in 6 of 8 reported years; operating margin moved from 14.2% to -14.3%, a shift of -28.5 percentage points; the most recent year shows a net loss of $1.0M.

Income Statement — 8 Years (USD millions)

Metric20192020202120222023202420252026
Revenue$11.0M$17.0M$17.0M$8.0M$10.0M$8.0M$3.0M$5.0M
Operating Expenses$9.0M$14.0M$12.0M$4.0M$6.0M$7.0M$9.0M$5.0M
Operating Profit$2.0M$3.0M$5.0M$4.0M$3.0M$1.0M$-6.0M$-1.0M
Operating Margin14.2%15.7%30.3%45.8%35.4%12.3%-167.2%-14.3%
Other Income$-8.0M$0$0$0$0$0$0$0
Interest$0$0$0$0$0$0$0$0
Depreciation$0$0$0$0$0$0$0$0
Profit Before Tax$2.0M$3.0M$5.0M$4.0M$3.0M$1.0M$-6.0M$-1.0M
Tax$15.8M$2.3M$1.4M$2.5M$920,000$-6.5M$-2.5M$-150,000
Net Profit$1.0M$3.0M$5.0M$3.0M$3.0M$1.0M$-6.0M$-1.0M
EPS$0.13$0.36$0.70$0.49$0.49$0.16$-0.80$-0.16
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

4 duplicate period labels in the source data were collapsed.

MetricSep '20Mar '21Sep '21Mar '22Sep '22Mar '23Sep '23Mar '24Sep '24Mar '25Sep '25Mar '26
Revenue$9.0M$8.0M$3.0M$5.0M$5.0M$5.0M$7.0M$1.0M$2.0M$1.0M$3.0M$2.0M
Operating Expenses$1.0M$1.0M$1.0M$0$3.0M$1.0M$4.0M$2.0M$1.0M$8.0M$3.0M$3.0M
Operating Profit$8.0M$8.0M$3.0M$4.0M$2.0M$3.0M$3.0M$-1.0M$1.0M$-6.0M$0$-1.0M
Operating Margin92.6%91.9%82.9%89.6%38.9%70.5%39.0%-160.3%31.5%-413.6%6.6%-46.8%
Interest$0$0$0$0$0$0$0$0$0$0$0$0
Profit Before Tax$2.0M$3.0M$1.0M$3.0M$2.0M$2.0M$4.0M$-3.0M$0$-5.0M$0$-1.0M
Tax$1.2M$1.6M$4.7M$1.7M$0$2.0M$-2.1M$-450,000$0$-2.7M$0$130,000
Net Profit$2.0M$3.0M$1.0M$3.0M$2.0M$2.0M$4.0M$-3.0M$0$-6.0M$0$-1.0M
EPS$0.41$0.44$0.14$0.44$0.26$0.22$0.50$-0.36$-0.06$-0.75$0.03$-0.18

Over the 8 years reported for TOP Financial Group Limited, cash stood at $13.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.56 times.

Balance Sheet — 8 Years (USD millions)

Metric20192020202120222023202420252026
Total Assets$13.0M$13.0M$10.0M$14.0M$40.0M$58.0M$47.0M$86.0M
Current Assets$2.0M$13.0M$10.0M$12.0M$35.0M$52.0M$40.0M$78.0M
Cash$2.0M$4.0M$5.0M$6.0M$16.0M$26.0M$12.0M$13.0M
Inventory$0$0$0$0$0$0$0$0
Receivables$0$8.0M$3.0M$4.0M$17.0M$14.0M$25.0M$46.0M
Fixed Assets$0$0$0$0$0$1.0M$0$3.0M
Capital Work in Progress$0$0$0$0$0$0$0$0
Investments$0$0$0$1.0M$4.0M$3.0M$6.0M$4.0M
Other Assets$0$0$0$0$0$0$0$0
Total Liabilities$0$7.0M$4.0M$4.0M$4.0M$17.0M$12.0M$52.0M
Current Liabilities$0$7.0M$4.0M$3.0M$4.0M$11.0M$12.0M$50.0M
Borrowings$0$0$0$0$0$0$0$3.0M
Other Liabilities$0$7.0M$4.0M$3.0M$4.0M$17.0M$12.0M$49.0M
Equity$0$0$0$0$0$0$0$0
Reserves$5.0M$6.0M$7.0M$10.0M$36.0M$41.0M$35.0M$34.0M

For TOP Financial Group Limited, operating cash flow was positive in 5 of 8 reported years; free cash flow in the latest year was $13.0M; free cash flow was positive in 5 of 8 years.

Cash Flow Statement — 8 Years (USD millions)

Metric20192020202120222023202420252026
Operating Cash Flow$4.0M$-1.0M$4.0M$2.0M$-6.0M$18.0M$-14.0M$14.0M
Investing Cash Flow$0$0$0$-1.0M$-7.0M$-1.0M$-9.0M$0
Financing Cash Flow$0$-1.0M$3.0M$0$0$0$0$1.0M
Net Cash Flow$4.0M$-1.0M$2.0M$1.0M$10.0M$21.0M$-24.0M$17.0M
Free Cash Flow$4.0M$-1.0M$4.0M$1.0M$-6.0M$18.0M$-14.0M$13.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-1.00
EV / EBITDA-90.94
FCF Yield11.75%
Quick Ratio1.57
Interest Coverage—
Return 1Y62.81%
Return 3Y-72.29%
Return 5Y—

TOP Financial Group Limited (TOP) financials — frequently asked questions

What is TOP Financial Group Limited's annual revenue?

TOP Financial Group Limited (TOP) reported annual revenue of $5.0M in its most recent fiscal year.

What is TOP Financial Group Limited's net profit?

TOP Financial Group Limited (TOP) reported a net loss of $1.0M in its most recent fiscal year.

What is TOP EV/EBITDA?

TOP Financial Group Limited's enterprise value to EBITDA (EV/EBITDA) ratio is -90.94. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.

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