Top Financial Group Ltd. (TOP) intrinsic value & 10-year financials
Top Financial Group Ltd. (TOP) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 8 fiscal years revenue shrank 25.0% a year to $2.9M, with an average return on invested capital of 55.1%.
- Graham intrinsic value
- —
- Share price (Oct 24, 2026)
- $15.29
- Market cap
- $566.9M
- Revenue (FY2026)
- $2.9M
- Revenue growth (8-yr CAGR)
- -25.0%
- ROIC (10-yr avg)
- 55.1%
- Free cash flow (FY2026)
- $13.1M
TOP 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $2.9M | -$1.2M | -$0.03 | $13.1M | -40.2% | — |
| FY2025 | $2.9M | -$6.0M | -$0.16 | -$14.5M | -203.1% | — |
| FY2024 | $6.4M | $1.1M | $0.03 | $17.8M | — | — |
| FY2023 | $9.0M | $3.4M | $0.10 | -$6.1M | — | 27.9% |
| FY2022 | $8.6M | $3.5M | $0.12 | $1.2M | — | 82.3% |
| FY2021 | $16.4M | $5.0M | $0.17 | — | — | — |
| FY2020 | $16.4M | $2.5M | $0.08 | — | — | — |
| FY2019 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
TOP Financial Group Ltd revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
TOP Financial Group Ltd has earned high returns on invested capital, averaging 55.1% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
TOP Financial Group Ltd capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, TOP Financial Group Ltd is modeled at -25.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-1.07 per share.