FRHC

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Freedom Holding Corp.

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Key Metrics

Previous Close: $173.41
52-Week Range: $107.98 – $178.00
Market Cap: $11.04B
P/E (TTM): 68.65
EPS (TTM): 2.52
Dividend Yield: 0.00%

Advanced Metrics

Price/Book: 6.92
PEG Ratio: —
Return on Equity: 10.68%
Return on Assets: 1.24%
Gross Margin: 84.79%
Operating Margin: 5.01%
Profit Margin: 8.43%
Current Ratio: 1.23
Debt/Equity: 1.82
Total Debt: $2.79B
Free Cash Flow: —
Revenue Growth: 27.80%
Earnings Growth: -14.80%
Enterprise Value: $9.50B

FRHC Income statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Revenue	$795.69M	$1.64B	$1.99B	$2.17B
Cost of Revenue	$224.81M	$469.81M	$925.62M	$983.98M
Gross Profit	$570.88M	$1.17B	$1.06B	$1.18B
Selling, General & Admin	$100.33M	$216.17M	$375.62M	$439.95M
Operating Expenses	$129.45M	$237.40M	$438.06M	$492.31M
Operating Income	$441.44M	$930.35M	$623.41M	$689.07M
EBITDA	$450.02M	$954.65M	$657.64M	$749.56M
Pretax Income	$235.94M	$438.94M	$104.58M	$225.97M
Income Tax	$42.78M	$60.42M	$28.43M	$72.64M
Net Income	$205.14M	$379.11M	$76.29M	$153.33M
Diluted EPS	3.45	6.39	1.26	2.51
Diluted Shares	59.50M	59.36M	60.49M	61.12M

FRHC Balance Sheet statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Cash & Equivalents	$581.42M	$545.08M	$837.30M	$966.12M
Receivables	$1.22B	$3.07B	$4.97B	$6.85B
Inventory	—	$2.27M	$6.40M	$17.62M
Current Assets	$4.96B	$8.08B	$9.50B	$12.18B
Total Assets	$5.08B	$8.30B	$9.92B	$13.16B
Current Liabilities	$3.64B	$6.03B	$7.22B	$9.01B
Long-Term Debt	$60.03M	$276.72M	$494.41M	$1.36B
Total Debt	$1.61B	$3.07B	$1.95B	$2.43B
Total Liabilities	$4.31B	$7.13B	$8.69B	$11.67B
Retained Earnings	$647.06M	$998.74M	$1.08B	$1.23B
Shareholders' Equity	$777.28M	$1.16B	$1.22B	$1.49B
Working Capital	$1.32B	$2.04B	$2.29B	$3.17B
Net Debt	$996.02M	$2.49B	$1.08B	$1.42B

FRHC Cash Flow statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Operating Cash Flow	-$951.68M	-$1.06B	$1.68B	$185.22M
Capital Expenditure	-$38.54M	-$43.75M	-$95.33M	-$222.14M
Free Cash Flow	-$990.23M	-$1.11B	$1.59B	-$36.92M
Depreciation & Amortisation	$5.14M	$14.60M	$17.16M	$34.56M
Stock-Based Compensation	$9.29M	$22.72M	$59.59M	$68.05M
Investing Cash Flow	-$1.46B	-$638.22M	-$905.47M	-$1.05B
Financing Cash Flow	$2.13B	$1.67B	-$1.58M	$1.19B
Net Change in Cash	-$281.55M	-$28.01M	$774.01M	$327.69M

FRHC Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$445.78M	$515.42M	$530.89M	$615.57M	$531.77M	$720.88M
Cost of Revenue	$279.08M	$255.76M	$252.37M	$261.06M	$198.39M	$351.24M
Gross Profit	$166.70M	$259.66M	$278.52M	$354.51M	$333.38M	$369.64M
Selling, General & Admin	$82.56M	$102.52M	$99.05M	$139.36M	$99.02M	$145.23M
Operating Expenses	$181.26M	$107.34M	$118.81M	$154.53M	$149.37M	$162.89M
Operating Income	-$14.56M	$152.32M	$159.71M	$199.99M	$184.01M	$206.75M
EBITDA	-$16.64M	$167.00M	$169.01M	$230.18M	$190.33M	$228.28M
Pretax Income	-$155.47M	$47.48M	$60.49M	$93.94M	$31.02M	$40.83M
Income Tax	-$13.10M	$10.12M	$21.77M	$17.71M	$23.04M	$9.17M
Net Income	-$142.69M	$37.36M	$38.72M	$76.23M	$7.98M	$31.66M
Diluted EPS	—	0.61	0.63	1.25	—	0.52
Diluted Shares	—	61.06M	61.12M	61.11M	—	61.27M

FRHC Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$837.30M	$567.91M	$635.98M	$869.17M	$966.12M	$1.35B
Receivables	$4.97B	$4.67B	$5.30B	$5.02B	$6.85B	$6.09B
Inventory	$6.40M	—	—	—	$17.62M	—
Current Assets	$9.50B	$8.48B	$9.08B	$10.81B	$12.18B	$12.58B
Total Assets	$9.92B	$9.69B	$10.35B	$12.38B	$13.16B	$14.05B
Current Liabilities	$7.22B	$6.67B	$7.23B	$8.60B	$9.01B	$9.08B
Long-Term Debt	$494.41M	$670.13M	$742.77M	$1.08B	$1.36B	$1.47B
Total Debt	$1.95B	$1.78B	$1.59B	$2.17B	$2.43B	$2.79B
Total Liabilities	$8.69B	$8.46B	$9.13B	$10.98B	$11.67B	$12.51B
Retained Earnings	$1.08B	$1.12B	$1.15B	$1.23B	$1.23B	$1.26B
Shareholders' Equity	$1.22B	$1.23B	$1.22B	$1.39B	$1.49B	$1.54B
Working Capital	$2.29B	$1.82B	$1.85B	$2.21B	$3.17B	$3.49B
Net Debt	$1.08B	$1.17B	$913.14M	$1.26B	$1.42B	$1.37B

FRHC Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$1.34B	$480.83M	$535.28M	$717.78M	-$1.55B	-$341.62M
Capital Expenditure	-$41.75M	-$30.79M	-$78.93M	-$66.06M	-$46.37M	-$94.94M
Free Cash Flow	$1.30B	$450.04M	$456.35M	$651.73M	-$1.60B	-$436.56M
Depreciation & Amortisation	$4.45M	$6.11M	$6.27M	$8.32M	$13.86M	$9.88M
Stock-Based Compensation	$23.50M	$23.05M	$15.50M	$15.35M	$14.14M	$23.23M
Investing Cash Flow	-$252.84M	-$505.52M	-$179.04M	-$256.37M	-$108.23M	-$275.37M
Financing Cash Flow	-$835.19M	$123.38M	$96.36M	$784.10M	$187.79M	$1.22B
Net Change in Cash	$249.71M	$98.70M	$452.60M	$1.25B	-$1.47B	$599.71M

Market Snapshot

About

Freedom Holding Corp. is a financial services holding company operating primarily in Central Asia and Eastern Europe through its retail brokerage and investment banking subsidiaries. The company provides securities brokerage services, investment research, banking products, and insurance services to retail and institutional clients. Freedom Holding's largest subsidiary, Freedom Finance, operates trading platforms in multiple countries including Kazakhstan, Russia, Ukraine, and Germany. The company has experienced significant growth by offering modern digital platforms and competitive pricing to emerging market investors seeking access to international securities markets.