FRHC

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Freedom Holding Corp.

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Key Metrics

Previous Close: $159.15
52-Week Range: $107.98 – $181.88
Market Cap: $10.44B
P/E (TTM): 67.92
EPS (TTM): 2.41
Dividend Yield: —

Advanced Metrics

Price/Book: 6.55
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: $8.61B

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
Revenue	$445.78M	$524.86M	$530.89M	$615.57M	$531.77M
Cost of Revenue	$279.08M	$272.16M	$252.37M	$261.06M	$198.39M
Gross Profit	$166.70M	$252.70M	$278.52M	$354.51M	$333.38M
Selling, General & Admin	$82.56M	$102.52M	$99.05M	$139.36M	$99.02M
Operating Expenses	$181.26M	$107.34M	$118.81M	$154.53M	$149.37M
Operating Income	-$14.56M	$145.36M	$159.71M	$199.99M	$184.01M
EBITDA	-$16.64M	$160.04M	$169.01M	$230.18M	$190.33M
Pretax Income	-$155.47M	$40.52M	$60.49M	$93.94M	$31.02M
Income Tax	-$13.10M	$10.12M	$21.77M	$17.71M	$23.04M
Net Income	-$142.69M	$30.40M	$38.72M	$76.23M	$7.98M
Diluted EPS	—	0.50	0.63	1.25	—
Diluted Shares	—	61.06M	61.12M	61.11M	—

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

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

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.