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SKIL vs. FUTU: Which Emerging Tech Stock Offers Better Returns?

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Key Takeaways

  • SKIL 3Q26 revenues dip 6% y/y as the GK segment fell 18%, urging management to review strategic alternatives.
  • FUTU posted 86.3% y/y revenue growth, with commissions up 90.6% and operating margin expanding 160 bps.
  • FUTU expanded funded accounts 42.6% y/y and saw crypto trading volume jump 161% sequentially.

Both Skillsoft (SKIL - Free Report) and Futu Holdings (FUTU - Free Report) are tech-driven companies aiming at niche growth markets. FUTU operates in the brokerage and fintech services space, while SKIL finds itself within the digital learning and enterprise software domain. These companies are appealing to growth-focused investors. 

We have analyzed both stocks to find out which can provide better returns.

The Case for SKIL

In the third quarter of fiscal 2026, SKIL registered a sequential marginal rise in its top line, while on a year-over-year basis, there was a 6% dip. This shortcoming was largely due to a 18% year-over-year decline in the Global Knowledge (GK) segment’s revenues, which contributed nearly 22% to the top line. While this performance might appear discouraging, management took a proactive stance to review strategic alternatives for the GK segment.

The GK segment was responsible for a $20.8-million non-cash goodwill impairment loss, resulting in a $4.9-million adjusted net loss. Hence, the decision on this segment’s potential sale will act as a barrier for its balance sheet from shrinking the market.

On the Talent Development Solutions (TDS) segment’s front, despite a 2% year-over-year dip, we are pretty optimistic about the company's AI-native roadmap achieved through Percipio, showing early signs of success in the form of signing its first four large enterprise customers.

SKIL’s profitability in the third quarter of fiscal 2026 showed massive improvement, as evidenced by 83% sequential and 27% year-over-year growth in adjusted net income. However, the adjusted EBITDA margin dipped 30 basis points (bps) sequentially and 160 bps year over year. On a segment basis, TDS registered a 20-bps year-over-year rise in the adjusted EBITDA margin, while GK’s adjusted EBITDA margin was at a negative 11.6%.

It paints a clear picture of GK’s inability to contribute to SKIL’s profitability, which makes management’s intention to review this segment obvious and visionary. Moreover, management’s decision not to provide revenues and adjusted EBITDA guidance for the GK segment for the full year, while reaffirming the TDS outlook, highlights its sole focus on the digital subscription business.

The Case for FUTU

In the third quarter of 2025, Futu Holdings registered a 86.3% year-over-year surge in its top line, with brokerage commission and handling charge income rally of 90.6% and interest income surge of 79.2%. These solid revenue improvements expanded the operating margin 160 bps. This disproportionate growth in the top line and operating income reflects strong efficiency in its core business.

FUTU’s customer-centric strategy bears fruit as evidenced by a 42.6% year-over-year growth in funded accounts and a 30.8% hike in brokerage accounts. Overall, the company witnessed a 16.8% year-over-year rise in its total users. In the third quarter of 2025, FUTU’s client acquisition spread across different markets, with Hong Kong being at the forefront, driven by strong equity market performance and a robust IPO pipeline.

Futu Holdings witnessed sequential growth in newly funded accounts across Singapore and registered significant contributions from Malaysia. This client base expansion resulted in a 79% year-over-year jump in total client assets, driven by strong asset inflow. On the same note, trading volume soared 105% year over year, fuelled by positive market forces and investor optimism.

The company finds itself on the cusp of driving crypto penetration. In the aforementioned quarter, FUTU registered whopping 161% sequential growth in crypto trading volume on the back of a 90% sequential surge in crypto assets and higher trading velocity. Ethereum was traded higher than Bitcoin, with Solana’s contribution being meaningful in Hong Kong.

How Do Estimates Compare for SKIL & FUTU?

The Zacks Consensus Estimate for SKIL’s fiscal 2026 sales and EPS indicates year-over-year declines of 3.6% and 3.7%, respectively. One estimate for fiscal 2026 has increased over the past 60 days, with no downward revisions.

 

Zacks Investment ResearchImage Source: Zacks Investment Research

 

The Zacks Consensus Estimate for FUTU’s 2025 sales and EPS indicates year-over-year surges of 60.2% and 90.2%, respectively. Two estimates for 2025 have moved north in the past 60 days, with no southward revision.

 

Zacks Investment ResearchImage Source: Zacks Investment Research

 

SKIL Trades Cheaper Than FUTU

Skillsoft is trading at a 12-month forward price-to-earnings ratio of 1.56, which is lower than its 3-month median of 3.75. Futu Holdings’ 12-month forward price-to-earnings ratio is 15.46, below its 3-month median of 17.45. SKIL appears undervalued compared with FUTU.

 

Zacks Investment ResearchImage Source: Zacks Investment Research

 

Verdict

SKIL and FUTU are impressive emerging tech stocks. Skillsoft is undergoing a structural pivot that is expected to improve revenues and profitability. It is emerging as a lean AI-native digital subscription business. Futu Holdings’ successful customer base expansion across different regions boosted funded accounts and client assets. It is expected to draw benefits from the crypto market.

While both stocks appear investor-friendly, Skillsoft is significantly cheaper than Futu Holdings, making it a more compelling opportunity for growth-oriented investors.

SKIL flaunts a Zacks Rank #1 (Strong Buy) and FUTU carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.


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