An Undervalued Security

I believe the current valuation of Futu Holdings (FUTU) is undervalued based on a conservative assessment of its intrinsic value.

Futu is an online brokerage and wealth management platform in Hong Kong and internationally. I don't like the comparison to Robinhood (hood) because it is different, has good management, and not to mention100x cheaper in valuation.

The whole company is currently going for approx 6 billion. Futu is expected to generate 3 billion in free cash flow in the fiscal year 2022. A 2x cash flow multiple is absurdly cheap if you believe these…