TOP Financial Group Ltd (TOP)
TOP Financial Group Ltd reported revenue of $4.7M in fiscal 2026, up 41.9% from a year earlier. It posted a net loss of $1.2M. Operating cash flow minus capital spending left $13.1M of free cash flow in fiscal 2026. At September 30, 2026 it held $8.9M in cash. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on October 28, 2026.
Key facts about TOP Financial Group Ltd
- Net worth
- TOP Financial Group Ltd has a market value (market cap) of $1.8B at the latest share price, and shareholders' equity of $117M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2026 revenue was $4.7M (+41.9% year on year), with a net loss of $1.2M.
- Cash flow
- In fiscal 2026 operations brought in $14M of cash; after $899.5K of capital spending, free cash flow was $13.1M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on October 28, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- TOP Financial Group Ltd's next report is expected around January 8, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What TOP Financial Group Ltd does
TOP Financial Group Ltd is registered with the SEC under industry code SIC 6200 (Security & Commodity Brokers, Dealers, Exchanges & Services). Its shares trade on NASDAQ under the ticker TOP.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2026 | $4.7M | -$1.2M | -$0.03 | $13.1M |
| 2025 | $3.3M | -$6M | -$0.16 | -$14.5M |
| 2024 | $8M | $1.1M | $0.03 | $17.8M |
| 2023 | $9.7M | $3.4M | $0.10 | -$6.1M |
| 2022 | $8.6M | $3.5M | $0.12 | n/a |
| 2022 | $16.9M | $5M | $0.17 | n/a |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where TOP ranks in Finance
Dividends
It paid out $5.2M in cash dividends, 103% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2022 | n/a | $5.2M | 103% |
Latest SEC filings
What TOP Financial Group Ltd has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 3, 2026
- October 28, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 44% to $2.2M versus the same quarter last year; diluted EPS $0.00 versus $0.01.
- October 16, 2026
- October 14, 2026
- October 9, 2026Executive or director change8-KTOP Financial Group expanded its board of directors from five to seven members and appointed Dean Huge and Yuli Yan as new directors.
- October 1, 2026
- September 29, 2026Executive or director change8-KTOP Financial Group amended appointment letters for its independent directors to replace share-based compensation with cash.
- September 21, 2026Executive or director change8-KTOP Financial Group appointed Hoi Ling Jennifer Tam as co-CEO and director, transitioning to a shared executive leadership model.
- September 4, 2026
- August 17, 2026Quarterly report 10-Q · period to June 30, 2026Revenue fell 19% to $1.1M versus the same quarter last year; diluted EPS -$0.02 versus $0.01.
What is TOP worth? A DCF from its reported cash flow
Insider trades
What the people running TOP Financial Group Ltd did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
Who owns TOP
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Junli Yang13D, may seek influence with 1 related filers | 17.1% | July 30, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 7 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Citadel Advisors LLC | 78,115 | new |
| Renaissance Technologies LLC | 49,700 | +1,000 |
| UBS Group AG | 34,395 | +4,771 |
| Jane Street Group, LLC | 33,948 | new |
| XTX Topco Ltd | 33,339 | +21,743 |
| BlackRock, Inc. | 23,622 | 0 |
| Two Sigma Investments, LP | 16,214 | new |
Insiders
Questions about TOP
What does TOP Financial Group Ltd do?
TOP Financial Group Ltd is a company in the Finance sector, listed on NASDAQ as TOP. Its shares trade on NASDAQ under the ticker TOP.
What is TOP Financial Group Ltd's net worth?
TOP Financial Group Ltd has a market value (market cap) of $1.8B at the latest share price, and shareholders' equity of $117M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is TOP Financial Group Ltd profitable?
No. In fiscal 2026 it reported a net loss of $1.2M on revenue of $4.7M.
How much revenue does TOP Financial Group Ltd make?
In fiscal 2026 TOP Financial Group Ltd reported revenue of $4.7M. That is 41.9% more than a year earlier.
When did TOP Financial Group Ltd last report?
Its most recent periodic report is the quarterly report (10-Q) filed on October 28, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the investor disclosure from November 3, 2026.
When is TOP Financial Group Ltd's next earnings report?
TOP Financial Group Ltd's next report is expected around January 8, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values TOP Financial Group Ltd tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.