FUTU (Futu Holdings) Operating Income: $1,912 Mil (TTM As of Mar. 2026)

What is Futu Holdings Operating Income?

Futu Holdings FUTU -0.71% 80 Operating Income is $1,912 Mil as of Mar. 2026. GuruFocus rates FUTU with a GF Score™ of 80/100 and a GF Value™ of $161.28 (Possible Value Trap). The stock has 1 warning sign investors should review.

Futu Holdings's Operating Income for the three months ended in Mar. 2026 was $451 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $1,912 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Futu Holdings's Operating Income for the three months ended in Mar. 2026 was $451 Mil. Futu Holdings's Revenue for the three months ended in Mar. 2026 was $748 Mil. Therefore, Futu Holdings's Operating Margin % for the quarter that ended in Mar. 2026 was 60.28%.

Good Sign:

Futu Holdings Ltd operating margin is expanding. Margin expansion is usually a good sign.

Futu Holdings's 5-Year average Growth Rate for Operating Margin % was 5.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Futu Holdings's annualized ROC % for the quarter that ended in Mar. 2026 was 19.73%. Futu Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 2,158.10%.

Futu Holdings (NAS:FUTU) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Futu Holdings's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

	ROC % (Q: Mar. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	1804.14 * ( 1 - 43.46% )	/	( (5180.145	+	5159.866)	/ 2 )
=	1020.060756	/	5170.0055
=	19.73 %

where

	Invested Capital		(Q: Dec. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	29359.047	-	21908.888	-	( 2270.014	-	max(0, 24123.484	-	28743.91	+	2270.014	))
=	5180.145

	Invested Capital		(Q: Mar. 2026 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	31470.929	-	23289.943	-	( 3021.12	-	max(0, 26115.003	-	30772.652	+	3021.12	))
=	5159.866

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Futu Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1804.14	/	( ( (94.333 + max(-3757.923, 0))	+	(72.864 + max(-4953.168, 0)) )	/	2 )
=	1804.14	/	( ( 94.333	+	72.864 )	/	2 )
=	1804.14	/	83.5985
=	2,158.10 %

where Working Capital is:

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3556.143	+	0	+	14613.446)	-	(21908.888	+	0	+	18.624)
=	-3757.923

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3606.265	+	0	+	14730.51)	-	(23289.943	+	0	+	0)
=	-4953.168

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Futu Holdings's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2026 )	/	Revenue (Q: Mar. 2026 )
	=	451.035	/	748.197
	=	60.28 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Futu Holdings Operating Income Related Terms

Futu Holdings Operating Income Historical Data

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The historical data trend for Futu Holdings's Operating Income can be seen below:

Futu Holdings Operating Income Chart

Futu Holdings Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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408.11

458.41

641.18

851.84

1,809.66

Futu Holdings Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Operating Income	Get a 7-Day Free Trial															345.47	426.06	501.55	532.98	451.04

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Futu Holdings Ltd FUTU

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Futu Holdings Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,912 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $1,912 Mil mean?

Futu Holdings (FUTU) has a Operating Income of $1,912 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Futu Holdings and its competitors.

Is Futu Holdings' Operating Income too high?

Futu Holdings' current Operating Income is $1,912 Mil. Overall, Futu Holdings has a GF Score™ of 80/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does Futu Holdings' Operating Income compare to EVR and HUT?

Futu Holdings' Operating Income of $1,912 Mil can be compared against companies in the Capital Markets industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Operating Income for a Capital Markets company?

A good Operating Income depends on the Capital Markets industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Operating Income mean?

A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Futu Holdings and its competitors. Futu Holdings's current Operating Income is $1,912 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Futu Holdings stock overvalued right now?

Based on GuruFocus' analysis, Futu Holdings (FUTU) is currently considered Possible Value Trap. The stock's GF Value™ is $161.28, compared to a current price of $96.34 — trading 40.3% below its estimated fair value. The current Operating Income is $1,912 Mil. Futu Holdings' overall GF Score™ is 80/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Operating Income calculated?

Operating Income is calculated from a company's financial statements. For Futu Holdings (FUTU), the current Operating Income is $1,912 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Futu Holdings (FUTU) Overvalued in 2026?

Based on GuruFocus' analysis, Futu Holdings stock appears to be undervalued. The current stock price of $96.34 is trading 40.3% below its estimated GF Value™ of $161.28. GuruFocus considers Futu Holdings to be Possible Value Trap.

Key valuation signals for FUTU:

Operating Income: $1,912 Mil
GF Value™: $161.28 vs. price of $96.34 (40.3% below fair value)
GF Score™: 80/100 with 1 warning sign

No single metric tells the full story. See the FUTU stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Futu Holdings Business Description

Industry Financial Services Capital Markets

Comparable Companies EVR HUT WULF RIOT SNEX SF IREN JEF HLI CRCL MS GS SCHW HOOD ASX:MQG SHSE:600030 BSP:BPAC3 SZSE:300059 SHSE:601211 IBKR

Other Exchanges FUTUN:Mexico 0FUT:UK 6FHA:Germany

Address 95 Queensway, 34th Floor, United Centre, Admiralty, Hong Kong, HKG

Website https://www.futuholdings.com

Futu Holdings Ltd is an online broker providing one-stop online investing services.. Through its proprietary digital platforms, Futubull and Moomoo, the Company provides a full range of investment services, including trade execution and clearing, margin financing and securities lending, and wealth management. The Group engages in online brokerage services and margin financing services. It generates its revenue in the form of brokerage commission and handling charge services, and interest income. Geographically, it operates in Hong Kong, which derives key revenue and it also has its presence in other countries.

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Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$96.34

Price

$161.28

GF Value

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