Futu Holdings (FUTU) Gross Margin (2018 - 2026)
Futu Holdings (FUTU) posted quarterly Gross Margin of 206.12% for Q4 2025, up 2840.0% year-over-year from 7.01% in Q4 2024, and up 7.07% quarter-over-quarter from 192.5% in Q3 2025.
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Analysis
Futu Holdings (FUTU) Gross Margin (2018 - 2026) Analysis & Trends
Futu Holdings' Gross Margin history runs 8 years deep, the most recent figure standing at 206.12% for Q4 2025.
- In Q4 2025, Gross Margin rose 2840.0% year-over-year to 206.12%; the TTM figure through Dec 2025 stood at 188.28% (up 393.0% YoY), while the FY2025 annual figure was 87.12%, up 512.0% from the prior year.
- Gross Margin for Q4 2025 stood at 206.12%, up from 192.5% in the prior quarter.
- The five-year high for Gross Margin was 221.53% in Q2 2023, with the low at 132.94% in Q1 2021.
- The 5-year median for Gross Margin is 182.11% (2022), against an average of 181.36%.
- The sharpest annual moves came in 2023 and 2024: Gross Margin surged 7268 bps in 2023, then tumbled 3685 bps in 2024.
- Futu Holdings' Gross Margin stood at 161.73% in 2021, then increased by 14 bps to 184.87% in 2022, then gained by 16 bps to 214.58% in 2023, then decreased by 17 bps to 177.72% in 2024, then increased by 16 bps to 206.12% in 2025.
- Business Quant data shows FUTU's Gross Margin at 206.12% in Q4 2025, 192.5% in Q3 2025, and 179.94% in Q2 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 329.44 Bn | 169.31 Bn | - | - |
| 2 | Goldman Sachs | 300.90 Bn | -675.44 Bn | - | - |
| 3 | Schwab Charles | 188.46 Bn | 114.86 Bn | - | - |
| 4 | Robinhood Markets | 95.87 Bn | 78.49 Bn | 1.20 Bn | 92.05% |
| 5 | Interactive Brokers | 39.89 Bn | -24.41 Bn | - | - |
| 6 | LPL Financial Holdings | 28.30 Bn | 25.60 Bn | - | - |
| 7 | Circle Internet | 22.04 Bn | 20.31 Bn | 288.85 Mn | 41.19% |
| 8 | Tradeweb Markets | 22.00 Bn | 19.94 Bn | - | - |
| 9 | Futu Holdings | 16.48 Bn | -19,683,684.71 Bn | 792.50 Mn | 86.31% |
| 10 | UP Fintech Holding | 12.74 Bn | 12.74 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 86.31% |
| Mar 31, 2026 | 87.20% |
| Dec 31, 2025 | 88.68% |
| Sep 30, 2025 | 87.60% |
| Jun 30, 2025 | 87.37% |
| Mar 31, 2025 | 84.05% |
| Dec 31, 2024 | 82.49% |
| Sep 30, 2024 | 81.81% |
| Jun 30, 2024 | 81.65% |
| Mar 31, 2024 | 81.86% |
| Dec 31, 2023 | 81.73% |
| Sep 30, 2023 | 83.50% |
| Jun 30, 2023 | 84.93% |
| Mar 31, 2023 | 88.37% |
| Dec 31, 2022 | 85.00% |
| Sep 30, 2022 | 88.79% |
| Jun 30, 2022 | 88.10% |
| Mar 31, 2022 | 86.11% |
| Dec 31, 2021 | 86.47% |
| Sep 30, 2021 | 84.56% |