Stock fact sheet · data as of
Futu Holdings Limited (FUTU): fair value, margin of safety and Wheel Score
Ticker symbol FUTU · Financial Services · Financial - Capital Markets · Hong Kong SAR China · ADR · Growth
FUTU is an American depositary share (ADR): the US listing of Futu Holdings Limited, whose own shares trade on its home exchange. It trades in dollars during US hours; currency moves and the home country's rules also affect it, and the depositary bank charges a small yearly fee.
Is FUTU undervalued?
At 97.92 (close of 5 Nov 2026), FUTU trades 79% below the GLS average fair value of 476.82. That average comes from 9 models run on the latest filings, and 7 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns Futu Holdings Limited the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
The 9 models disagree widely: DDM gives 38.58 while Payback Time gives 1,011.62. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, FUTU is clearly faster-growing than it is cheap, so the nightly engine files it under Growth (value score 66, growth score 90, out of 100).
Nine valuation models for FUTU
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 850.49 | +769% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 91.45 | -7% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 538.87 | +450% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 232.13 | +137% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 625.60 | +539% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 789.08 | +706% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 1,011.62 | +933% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 38.58 | -61% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 113.54 | +16% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -27.17 | -128% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 136.32 | +39% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - FUTU passes 5 of the nine Piotroski tests, which falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is 6.3 out of 10: a record that is solid on some of the four parts the score weighs (returns on capital, pricing power, lasting growth, balance sheet) and weaker on others.
Returns on capital are high - ROIC 19.6%, ROE 28.3%, ROA 5.0% - with debt at 0.44 times equity and negative free cash flow.
The dividend yield is 2.68% at a payout ratio of 0%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Brokerage Commission Income 83%, Handling Charge Income 18% (fiscal year FY2025).
Institutional ownership scores 4/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 19.6% |
|---|---|---|---|
| GLS Moat | 6.3 / 10 | ROE | 28.3% |
| Debt / equity | 0.44 | ROA | 5.0% |
| Free-cash-flow yield | 0.0% | Payout ratio | 0% |
| Institutions | 4 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 53: Fair
FUTU scores 53 out of 100 on the Wheel Score (Fair band, 50-69) because it fails filter 4, financially healthy - Piotroski 5/9 (under 6). A stock must pass all 9 Wheel Trade Filters to reach 70. Otherwise the parts read: value strong, premium strong, moat good, health fair, red flags fair, option trading good, stability good.
Implied volatility is 56% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 45,277 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.4M shares a day on a market cap of $13.7B, with a beta of 0.38 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that good.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 5/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 79% below fair value | |
| Premium | Strong | implied volatility 56% | |
| Moat | Good | moat 6.3/10 | |
| Health | Fair | Piotroski 5/9 | |
| Red Flags | Fair | Red Flags score 70/100 | |
| Option trading | Good | 6,162 contracts a day, 45,277 open interest | |
| Stability | Good | beta 0.38, $13.7B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
Futu Holdings Limited reports earnings on 17 Nov 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Financial - Capital Markets
The 12 companies below are the closest to Futu Holdings Limited by market cap within the Financial - Capital Markets industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| BMNP Bitmine Immersion Technologies, Inc. | 98.10 | 1.63 | -5908% | 13No options | $13.0B |
| BMNR Bitmine Immersion Technologies, Inc. | 21.73 | 0.7947 | -2635% | 29Weak | $12.4B |
| EVR Evercore Inc. | 311.03 | 355.42 | +12% | 75Good | $12.0B |
| SF Stifel Financial Corp | 72.94 | 97.45 | +25% | 79Good | $10.9B |
| CRCL Circle Internet Group | 76.12 | 68.34 | -11% | 36Weak | $19.3B |
| JEF Jefferies Financial Group Inc. | 51.17 | 141.57 | +64% | 81Good | $9.7B |
| XP XP Inc. | 15.17 | 70.40 | +78% | 55Fair | $7.9B |
| LPLA LPL Financial Holdings Inc. | 311.48 | 496.45 | +37% | 91Prime | $24.3B |
| TW Tradeweb Markets Inc. | 126.99 | 120.03 | -6% | 46Weak | $27.4B |
| SNEX StoneX Group Inc. | 56.83 | 712.67 | +92% | 79Good | $6.9B |
| NMR Nomura Holdings, Inc. | 9.79 | 17.13 | +43% | 47Weak | $28.6B |
| HUT Hut 8 Corp. | 48.94 | - | - | 14Weak | $6.0B |
⚖ Compare FUTU with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about FUTU
Is FUTU undervalued right now?
By the GLS models, yes: at 97.92 the stock is 79% below the average fair value of 476.82 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of FUTU and what does it mean?
FUTU scores 53 out of 100 (Fair) - it fails Wheel Trade Filter 4. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for FUTU?
476.82 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Futu Holdings Limited report earnings next?
The next earnings report is due on 17 Nov 2026 (before the open), 12 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does FUTU have listed options, and how liquid are they?
Yes. The nightly snapshot found 674 listed contracts with 45,277 open interest across all expiries and implied volatility of 56% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.
Is FUTU an ADR?
Yes. FUTU is an American depositary share (ADR): the US listing of Futu Holdings Limited, whose own shares trade on its home exchange. It trades in dollars during US hours; currency moves and the home country's rules also affect it, and the depositary bank charges a small yearly fee.