Metalpha Technology Holding Limited(MATH)Earnings, Financials & Key Ratios
MATH•NASDAQ
$0.99
2.4× P/E·Price updated Jul 6, 2026
AboutMetalpha Technology Holding Limited, together with its subsidiaries, provides wealth management services in Hong Kong. The company offers digital asset-based wealth management services, which include issuing traditional financial and cryptocurrency derivative products to over-the-counter clients, providing crypto derivative market making services, and proprietary trading of digital assets and crypto derivative products; and securities advising and asset management services. It serves institutional investors and high-net-worth individuals. The company was formerly known as Dragon Victory International Limited and changed its name to Metalpha Technology Holding Limited in November 2022. The company was incorporated in 2015 and is headquartered in Wan Chai, Hong Kong.Show more
- Revenue$45M+165.9%
- EBITDA$18M+1138.2%
- Net Income$16M+532.0%
- EPS (Diluted)0.41+472.7%
- Gross Margin47.8%+42.4%
- EBITDA Margin39.49%+365.8%
- Operating Margin39.13%+392.5%
- Net Margin35.66%+262.5%
- ROE59.52%+305.8%
MATH Price & Volume
Metalpha Technology Holding Limited (MATH) stock price & volume — 10-year historical chart
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Volatile Asset Exposure Masks Structural Profitability Risks
Investment Thesis • Updated 2026Q2
VerdictNegative
Growth:Mixed
Profitability:Strained
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:High liquidity and volatility
Key Thesis Takeaways
- Metalpha Technology Holding Limited operates a high-risk business model heavily tethered to digital asset market cycles, resulting in erratic revenue growth and inconsistent profitability.
- While the firm has expanded its total assets to $413.8M as of 2026Q2, this growth is primarily driven by volatile trading positions rather than sustainable operational earnings.
- Investors should remain cautious as the firm's negative retained earnings of -$14.7M and reliance on mark-to-market valuations create significant exposure to sector-wide liquidity shocks.
Verdict Logic
the firm's persistent operational losses and negative retained earnings of -$14.7M indicate a lack of long-term sustainability despite a current P/E ratio of 2.43.
MATH Growth Metrics
Metalpha Technology Holding Limited (MATH) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years424.27%
3 Years613.47%
TTM-100%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM139.62%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM124.26%
Return on Capital
10 Years14.55%
5 Years-3.11%
3 Years20.72%
Last Year65.28%
Peers Comparison
Key metrics vs top competitors for Metalpha Technology Holding Limited (MATH)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $0.99 | $42.97M | 2.41 | 165.85% | 35.66% | 59.52% | — | |
| $100.77 | $33.65B | -6.62 | 2.97% | -2519.39% | -24.09% | — | |
| $168.87 | $44.49B | 37.95 | 9.4% | 13.78% | 5.68% | — | |
| $12.95 | $4.94B | -3.51 | 38.2% | -234.83% | -51.65% | — | |
| $22.87 | $8.67B | -11.73 | 71.89% | -132.76% | -28.78% | — | |
| $103.78 | $11.69B | -48.50 | -90.71% | — | -17.66% | — |
Compare MATH vs Peers
Metalpha Technology Holding Limited (MATH) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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MATH Frequently Asked Questions
Metalpha Technology Holding Limited (MATH) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Metalpha Technology Holding Limited's revenue?
Metalpha Technology Holding Limited (MATH) reported $44.6M in revenue for fiscal year 2025.
How fast is Metalpha Technology Holding Limited growing?
Metalpha Technology Holding Limited (MATH) grew revenue by 165.9% over the past year. This is strong growth.
Is MATH profitable?
Yes, Metalpha Technology Holding Limited (MATH) is profitable, generating $13.2M in net income for fiscal year 2025 (35.7% net margin).
Dividend & Returns
What is MATH's return on equity?
Metalpha Technology Holding Limited (MATH) has a return on equity (ROE) of 59.5%. This is excellent, indicating efficient use of shareholder capital.
What is Metalpha Technology Holding Limited's free cash flow?
Metalpha Technology Holding Limited (MATH) had negative free cash flow of $14.9M in fiscal year 2025, likely due to heavy capital investments.