Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data TOP Financial Group Ltd files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
FY2026
Revenue
16.5
16.9
8.61
9.7
8.04
3.33
4.72
Operating expenses
13.9
11.8
4.24
6.27
7.05
9.15
5.9
Operating income
-5.82
-1.18
Interest income
0.17
0.12
0.83
0.95
Pre-tax income
2.6
5.12
3.58
3.43
0.99
-5.82
Income tax
0.06
0.07
0.09
0.03
-0.06
0.15
-0
Net income to minority interests
-0
Net income
2.54
5.04
3.49
3.4
1.05
-5.97
-1.17
EBITDA
-5.79
-1.14
EPS, basic
0.08
0.17
0.12
0.10
0.03
-0.16
-0.03
EPS, diluted
0.08
0.17
0.12
0.10
0.03
-0.16
-0.03
Shares, basic (weighted)
30
30
30
34.2
32.3
37
37.1
Shares, diluted (weighted)
30
30
30
34.2
32.3
37
37.1
Balance sheet
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
FY2026
Cash and equivalents
3.64
4.86
6.2
16
25.9
12.2
13
Receivables
1.23
3.77
4.65
12.3
11.8
Property, plant and equipment
0.02
0.42
0.48
0.46
0.43
1.11
Lease right-of-use assets
0.24
0.16
0.06
0.27
1.56
Goodwill
0.03
Intangible assets
0.06
0.06
0.06
0.06
Long-term investments
0.26
2
3.65
3.15
Total assets
10.3
13.9
40.3
57.6
46.8
86.1
Lease liabilities
0.24
0.15
Total liabilities
3.51
3.69
4.33
17.1
11.9
51.8
Paid-in capital
2.93
2.93
25.2
28.9
29
29
Retained earnings
3.77
7.26
10.7
11.7
5.74
4.57
Other comprehensive income
0.02
-0.03
0.08
-0.12
0.13
0.3
Shareholders' equity
6.43
6.75
10.2
36
40.5
34.9
33.9
Minority interests
0.3
Total equity
6.43
6.75
10.2
36
40.5
34.9
34.2
Total liabilities and equity
10.3
13.9
40.3
57.6
46.8
86.1
Shares outstanding
30
30
35
37
Cash flow statement
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
FY2026
Net income
2.54
5.04
3.49
3.4
1.05
-5.97
-1.18
Depreciation and amortization
0.02
0.01
0.01
0.03
0.03
0.03
0.04
Stock-based compensation
0.05
0.05
0.07
0.06
Deferred income tax
-0.04
Change in payables
-0.01
-0.04
0.01
0.36
0.01
-0.05
0.01
Cash from operations
-0.94
4.33
1.58
-6.03
17.8
-14.5
14
Capital expenditures
-0.09
-0.01
-0
-0.9
Purchases of investments
-1
Sales and maturities of investments
1.12
Cash from investing
-0.02
-0.41
-6.54
-1.28
-9.36
1.28
Debt issued
0.64
Stock issued
22.7
Dividends paid
-5.2
Cash from financing
-0.58
-2.33
22.5
4.39
0.99
Exchange rate effect
0.07
-0.02
-0.05
-0.04
-0.02
Net change in cash
-1.52
1.99
1.17
9.89
20.9
-23.8
16.3
Free cash flow
-6.12
17.8
-14.5
13.1
Interest paid
0
0.01
Income taxes paid
0.3
0.1
0.03
0
Key metrics
Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $15.47 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-24.9%
Operating income / revenue.
EBITDA margin
-24.2%
EBITDA (operating income + depreciation and amortization) / revenue.
Net margin
-24.8%
Net income / revenue.
FCF margin
277.8%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
296.8%
Cash from operations / revenue.
Return on equity (ROE)
-3.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-1.8%
Net income / average total assets.
Return on invested capital (ROIC)
-4.3%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue
1.3%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
19.0%
Capital expenditures / revenue.
D&A / revenue
0.7%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
41.9%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-21.3%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-22.5%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y
26.5%
Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-2.7%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-1.9%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
38.1%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
83.9%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
28.8%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
53.0%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
0.1%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
2.8%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
4.3%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.03
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-$0.03
Net income per basic share, as reported (split-adjusted).
Revenue per share
$0.13
Revenue / diluted weighted shares.
FCF per share
$0.35
Free cash flow / diluted weighted shares.
Operating cash flow per share
$0.38
Cash from operations / diluted weighted shares.
Book value per share
$0.92
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
405x
Market cap / revenue.
P/B
56.4x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
56.5x
Market cap / tangible book value, when positive.
P/FCF
146x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
136x
Market cap / cash from operations, when positive.
EV/Sales
402x
Enterprise value / revenue.
EV/FCF
145x
Enterprise value / free cash flow, when both are positive.
FCF yield
0.7%
Free cash flow / market cap.
Earnings yield
-0.1%
Net income / market cap (the inverse of P/E).
What was TOP Financial Group Ltd's revenue in fiscal 2026?
TOP Financial Group Ltd reported revenue of $4.7M for fiscal 2026, 41.9% higher than the year before.
Was TOP Financial Group Ltd profitable in fiscal 2026?
No. It reported a net loss of $1.2M.
How much free cash flow did TOP Financial Group Ltd generate in fiscal 2026?
Cash from operations of $14.0M minus capital expenditures of $899.5K left free cash flow of $13.1M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.