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Top Financial Group: Rotting at the dock (four or more warning signs)Rotting at the dock

Top Financial Group $TOP

Grew revenue 41.9% in FY2026 to $5 million, operating margin -24.9%, equity 39.4% of assets.

Last filing8-K · Item 7.01 Regulation FD Disclosure, 3 Nov 2026

Health watchLate annual report notice · 30 Jun 2026Late quarterly report notice · 17 Aug 2026Director or officer change ×3 · 9 Oct 2026
Follow its filings →
Next year, 80%$5M–$9M
Growth, on the year41.9%
Operating margin−24.9%
Equity of assets39.4%
Edgarette’s full reading · exposure, experience, soundness, credibility, range

🫧 Edgar looked up TOP FINANCIAL GROUP LIMITED ($TOP). Last filing: 8-K (7.01 Regulation FD Disclosure), 2026-11-03. 12 event filings (8-K) in the past twelve months.

🔖 Exposure: revenue $4.7M (FY2026). Experience: revenue up 41.9% on the year; operating margin -24.9%, up from -174.9%. Soundness: equity 39.4% of assets, return on equity -3.5%. Credibility: 2 audited years, moderate weight. Range: 80% of past cases like this landed between $4.9M and $8.8M next year (method v3, set from 749 SEC company-years; on a year the method never saw, 83% landed inside). A statistical range, not company guidance. Against peers (8 filers, $50M+ revenue, security & commodity brokers, dealers, exchanges & services): growth 41.9% against 15.3%.

Read from its own SEC filings · nothing written, nothing inferred

TOP FINANCIAL GROUP LIMITED against its own record and its peers
Operating margin-24.9%Revenue, on the yearPeer median 15.3%41.9%Equity of assets39.4%Return on equity-3.5%No peer group large enough for a median

Speed and cash · fiscal 2025

Cash Compass🍂 Fading · slow and jumpy, lagging its peers
Inside viewTurns 200.0% of revenue into operating cash; revenue shrinking 21.3% a year over three years; no common dividend.
Outside viewAmong under $50M companies: 100th percentile for cash, 19th for growth. cash growth

Both views must agree for a label · a description, not advice.

Cash flow (op · inv · fin · free)$14M · $1M · $1M · $13M
Investment book (cash · short · long)$13M · — · $3M
Revenue swing · equity of assets47.8% · —

Top Financial Group is growing slower than its size class, with revenue that swings more. Its own audited SEC figures.

The figures, as filed

Fiscal year end2026-03-31
Revenue$5M
Revenue, on the year41.9%
Revenue, a year over the record—
Operating margin−24.9%
Operating margin, prior year−174.9%
Net margin−24.9%
Research and developmentnot filed separately
Total debt—
Equity of assets39.4%
Return on equity−3.5%
Payout of profit—
Dividend per share—
Earnings per share$-0.03
Book value per share$0.92
Revenue per share$0.13
Shares outstanding37,074,230
Audited years read2

Peers: the median of 8 filers with $50M+ revenue in security & commodity brokers, dealers, exchanges & services.

Classic signals · fiscal 2026Altman Z″ not covered: built for industrial balance sheets, not banks or insurersPiotroski F 5 of 9 middling 2000Beneish M not covered: built for industrial filersSloan accruals -22.9% earnings backed by cash 1996DuPont ROE -3.4% = margin -24.9% × turns 0.07 × leverage 1.93

What a terminal subscription used to buy, a filing and arithmetic now give anyone. Published method, from the same filings. Display only: nothing here moves the range or its receipt. Why? →

Health HarborTop Financial Group sails as: Rotting at the dock

Health watch · 12 monthsLate annual report noticeLate quarterly report noticeDirector or officer change ×3

Tied up at the dock.

🌊 Visit the Bay →
  • filed late annual report notice, late quarterly report notice in the last 12 months
  • slow and jumpy: growing slower than its size class, with revenue that swings more
  • operating loss: a margin of -24.9% in FY2026
  • revenue is hard to predict: its 80% range is ±28%

Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an operating loss; negative free cash flow outside regulated utilities; an 80% revenue range of ±25% or wider. A picture of the signs, not a rating and not investment advice.

Recent filings

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price. Reporting, not investment advice. No price targets and no trading recommendations. Figures from the SEC’s own data · every filing · this page as JSON · ask about another company

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Data & Disclosure Notice: Edgar and Edgarette are automated software. Every figure on this page is calculated by software from public filings made by companies and funds with the U.S. Securities and Exchange Commission (EDGAR) and is published without individual human review. The accuracy and completeness of those filings are the responsibility of the filers; reports can contain errors and can be amended. Figures are shown as filed and as of each filing's date, and this page may be corrected or updated without notice. Ranges, expected returns, rankings, boats and other measures are statistical descriptions of past filings, not ratings, price forecasts, company guidance or recommendations; past results do not guarantee future results. This is general information published for all readers, not advice tailored to any person's portfolio, needs or circumstances, and nothing here is financial, investment, actuarial, legal, tax or other professional advice. Actuaries and other professionals who use these figures remain responsible for reviewing them for reasonableness and consistency against the original filings and for disclosing their reliance on them. No company, fund or reinsurer pays to be included or ranked. Provided as is, without warranty of any kind. Not affiliated with or endorsed by the SEC or by any company, fund or reinsurer named. All trademarks remain the property of their owners.