TOP Financial Group Limited
TOP Financial Group Limited’s revenue for fiscal 2026 (year ended March 2026) was $4.7 million, up 41.9% from fiscal 2025.
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TOP Financial Group Limited (TOP) Piotroski F-score
TOP Financial Group Limited's Piotroski F-score for fiscal 2026 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, up from 2 in fiscal 2025.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2026 | 5 | 3.00 |
| FY2025 | 2 | (4.00) |
| FY2024 | 6 | 2.00 |
| FY2023 | 4 | (2.00) |
| FY2022 | 6 | — |
How fiscal 2026’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (1.76%) | (11.43%) | Fail | 0 |
| Positive operating cash flow | 14.02m | (14.47m) | Pass | 1 |
| Rising return on assets | (1.76%) | (11.43%) | Pass | 1 |
| Cash flow above net income | 15.19m | (8.50m) | Pass | 1 |
| Falling long-term leverage | 0.01 | 0.00 | Fail | 0 |
| Rising current ratio | 1.54 | 3.40 | Fail | 0 |
| No new shares issued | 7,414,800 | 7,406,200 | Fail | 0 |
| Rising gross margin | 71.50% | 59.86% | Pass | 1 |
| Rising asset turnover | 0.07 | 0.06 | Pass | 1 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| OPY Oppenheimer Holdings, Inc. compare | 8 |
| GOLD Gold.com Inc. compare | 6 |
| PWP Perella Weinberg Partners compare | 6 |
| ETOR eToro Group Ltd. compare | 5 |
| TOP TOP Financial Group Limited | 5 |
| CLSK Cleanspark, Inc. compare | 4 |
| SBET Sharplink Inc compare | 3 |
| PURR Hyperliquid Strategies Inc compare | — |
| MIAX Miami International Holdings, Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover