Freedom Holding Corp. (FRHC) 10-Year Financial Performance & Capital Metrics

FRHC • • Banking & Credit

Financial ServicesCapital MarketsSecurities Brokerage & Wealth ManagementInstitutional Brokerage & Wealth Management

AboutFreedom Holding Corp., through its subsidiaries, provides retail securities brokerage, research, investment counseling, securities trading, market making, retail banking, corporate investment banking, and underwriting services. The company offers investment brokerage services for exchange-traded and over-the-counter corporate equity and debt securities, money market instruments, exchange traded options and futures contracts, government bonds, and mutual funds; margin lending services collateralized by securities and cash in the customer's account; various investment education and training courses; investment research services; and commercial banking services, including payment cards, digital mortgages, and digital auto loans, as well as insurance products. It also provides capital raising solutions for corporate clients through initial public offerings and follow-on offerings; and debt capital markets solutions that focuses on structuring and distributing private and public debt for various purposes, including buyouts, acquisitions, growth capital financings, and recapitalizations. In addition, the company is involved in trading, investment, and brokerage activities. Further, it facilitates repurchase and reverse repurchase agreements in proprietary trading activities; and covers short positions and settle other securities obligations to accommodate customers' needs and finance its inventory positions. Additionally, the company offers Tradernet software platform for client margin risk evaluation and middle office security transfer requests. It operates in Central Asia, Europe, the United States, Russia, and the Middle East/Caucasus. The company was formerly known as BMB Munai, Inc. and changed its name to Freedom Holding Corp. Freedom Holding Corp. was incorporated in 1981 and is headquartered in Almaty, Kazakhstan.Show more

Net Interest Income -$536M -6.9%
Total Revenue $2.03B +22.7%
Net Income $85M -77.5%
Return on Equity 7.11% -81.7%
Net Interest Margin -5.41% +10.4%
Efficiency Ratio 21.54% +50.3%
ROA 0.93% -83.4%
Equity / Assets 12.25% -12.9%
Book Value per Share 20.08 +2.1%
Tangible BV/Share 18.37 +2.2%
Debt/Equity 1.61 -38.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 25.7%
✓Strong 5Y profit CAGR of 27.8%
✓Efficient operations: 21.5% efficiency ratio
✓Well capitalized: 12.2% equity/assets
✓Diversified revenue: 100.0% from non-interest income

✗Weaknesses

✗Weak NIM of -5.4%
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y89.42%

3Y43.39%

TTM-

Profit (Net Income) CAGR

10Y-

5Y27.79%

3Y-28.07%

TTM-98.62%

EPS CAGR

10Y-

5Y26.63%

3Y-28.56%

TTM-98.59%

ROCE

10Y Avg32.51%

5Y Avg52.51%

3Y Avg38.66%

Latest25.44%

Peer Comparison

Institutional Brokerage & Wealth Management

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FRHCFreedom Holding Corp.	7.71B	126.09	90.06	22.74%	4.16%	0.39%	20.56%	1.61
WHGWestwood Holdings Group, Inc.	173.67M	18.46	71	5.5%	2.33%	5.76%	12.1%	0.03
LPLALPL Financial Holdings Inc.	30.16B	376.83	26.86	23.2%	8.55%	22.03%		1.96
SFStifel Financial Corp.	13.26B	130.20	20.83	15.45%	12.42%	11.53%	3.14%	0.49
RJFRaymond James Financial, Inc.	33.88B	171.55	16.66	7.94%	13.42%	17.07%	6.63%	0.35
OPYOppenheimer Holdings Inc.	823.46M	79.02	12.41	14.71%	5%	9.21%		0.81
GSIWGarden Stage Limited Ordinary Shares	29.89M	0.14	-0.49	295.95%	-79.91%	14.93%		0.03
DOMHDominari Holdings Inc.	66.61M	4.16	-1.75	7.9%	-81.03%	52.5%		0.08

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Net Interest Income+	0	-3.81M	-14.73M	-14.65M	-10.2M	-22.44M	-76.95M	-208.95M	-501.11M	-535.89M
NII Growth %	-	-	-2.87%	0.01%	0.3%	-1.2%	-2.43%	-1.72%	-1.4%	-0.07%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	1.59K	3.81M	14.73M	14.65M	10.2M	22.44M	76.95M	208.95M	501.11M	535.89M
Loan Loss Provision	1.71K	-3.46M	-12.45M	-8.41M	9.21M	123.93M	109.7M	15.86M	-8.64M	427.73M
Non-Interest Income+	0	19.36M	57.76M	74.28M	83.39M	346.88M	689.79M	795.69M	1.66B	2.03B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	0	19.36M	57.76M	74.28M	83.39M	346.88M	689.79M	795.69M	1.66B	2.03B
Revenue Growth %	-	-	1.98%	0.29%	0.12%	3.16%	0.99%	0.15%	1.08%	0.23%
Non-Interest Expense	493.83K	19.59M	22.12M	44.63M	25.68M	22.63M	58.49M	129.45M	237.4M	438.06M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	-493.83K	-581.97K	33.35M	23.41M	38.3M	177.87M	444.65M	441.44M	926.79M	631.77M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-5.14%	-0.18%	58.3%	-0.3%	0.64%	3.64%	1.5%	-0.01%	1.1%	-0.32%
Pretax Income+	-492.24K	5.77M	18.61M	8.52M	29.09M	151.81M	363.69M	235.94M	435.37M	112.95M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-240	-524K	418K	1.37M	4.93M	23.31M	38.57M	42.78M	60.42M	28.43M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	-492K	6.29M	18.2M	7.15M	24.84M	149.65M	227.49M	205.14M	375.54M	84.65M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-25.19%	13.78%	1.89%	-0.61%	2.48%	5.03%	0.52%	-0.1%	0.83%	-0.77%
Net Income (Continuing)	-492K	6.3M	18.2M	7.15M	24.16M	128.5M	325.12M	193.16M	374.95M	84.52M
EPS (Diluted)+	-0.05	0.56	0.54	0.12	0.43	2.56	3.84	3.45	6.33	1.40
EPS Growth %	-	12.11%	-0.04%	-0.78%	2.58%	4.95%	0.5%	-0.1%	0.83%	-0.78%
EPS (Basic)	-0.05	0.56	0.55	0.12	0.43	2.56	3.84	3.50	6.37	1.43
Diluted Shares Outstanding	9.77M	11.21M	33.39M	58.24M	58.25M	58.44M	59.38M	59.5M	59.36M	60.49M

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash & Short Term Investments+	99.68K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	99.68K	22.62M	64.53M	49.96M	63.21M	168.02M	225.46M	581.42M	545.08M	837.3M
Short Term Investments	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	0	81.58M	212.32M	167.95M	162.98M	587.55M	1.32B	2.66B	3.91B	2.82B
Investments Growth %	-	-	1.6%	-0.21%	-0.03%	2.6%	1.25%	1.01%	0.47%	-0.28%
Long-Term Investments	0	0	1.06M	0	0	0	0	4M	372K	69.74M
Accounts Receivables	0	471K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	981K	1.8M	2.94M	2.61M	7.14M	5.9M	14.19M	52.65M	49.09M
Intangible Assets	0	125K	586K	4.23M	3.42M	3.9M	5.16M	17.61M	47.67M	54.19M
PP&E (Net)	5.43K	971K	1.78M	5.56M	20.93M	20.2M	25.25M	84.36M	119.33M	230.93M
Other Assets	0	355K	310K	883K	716K	7.36M	4.9M	5.75M	6.5M	8.19M
Total Current Assets	8.68M	117.91M	323.51M	336.04M	425.28M	2.06B	3.19B	4.96B	8.08B	9.5B
Total Non-Current Assets	5.43K	3.46M	6.57M	14.87M	28.24M	38.59M	42.07M	125.91M	226.51M	412.13M
Total Assets+	8.69M	121.36M	330.09M	350.91M	453.52M	2.1B	3.23B	5.08B	8.3B	9.91B
Asset Growth %	0.01%	12.97%	1.72%	0.06%	0.29%	3.63%	0.54%	0.57%	0.63%	0.19%
Return on Assets (ROA)	-0.06%	0.1%	0.08%	0.02%	0.06%	0.12%	0.09%	0.05%	0.06%	0.01%
Accounts Payable	50.23K	533K	8.93M	32.79M	8.52M	23.47M	50.55M	130.87M	886.24M	1.34B
Total Debt+	0	59.75M	172.76M	106.17M	134.88M	414.25M	885.66M	1.61B	3.07B	1.95B
Net Debt	-99.68K	37.13M	108.23M	56.21M	71.68M	246.23M	660.19M	1.03B	2.52B	1.12B
Long-Term Debt	0	3.46M	11.22M	32.55M	72.3M	34.72M	37.93M	60.03M	276.72M	494.41M
Short-Term Debt	0	56.29M	161.82M	73.62M	48.2M	374.72M	840.22M	1.52B	2.76B	1.42B
Other Liabilities	0	9.26M	211.97M	-72.01M	-158.46M	19.66M	115.31M	541.67M	728.61M	949.34M
Total Current Liabilities	50.33K	64.75M	193.05M	190.75M	227.83M	1.76B	2.51B	3.64B	6.03B	7.22B
Total Non-Current Liabilities	8.53M	12.72M	21.94M	42.57M	96.66M	63.2M	178.72M	675.79M	1.1B	1.48B
Total Liabilities	8.58M	77.48M	214.99M	233.31M	324.49M	1.82B	2.68B	4.31B	7.13B	8.7B
Total Equity+	105.16K	43.89M	227.94M	117.6M	129.04M	275.67M	546.61M	770.74M	1.17B	1.21B
Equity Growth %	3.76%	416.36%	4.19%	-0.48%	0.1%	1.14%	0.98%	0.41%	0.51%	0.04%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	-14.67%	0.29%	0.13%	0.04%	0.2%	0.74%	0.55%	0.31%	0.39%	0.07%
Book Value per Share	0.01	3.91	6.83	2.02	2.22	4.72	9.21	12.95	19.66	20.08
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	280.34K	11K	58K	58K	58K	58K	59K	59K	60K	61K
Additional Paid-in Capital	455.45K	34.66M	100.18M	99.09M	102.89M	104.67M	174.75M	164.16M	183.79M	246.61M
Retained Earnings	-630.63K	16.15M	35.39M	41.5M	66.33M	208.63M	441.92M	647.06M	998.74M	1.09B
Accumulated OCI	0	-6.94M	-7.39M	-23.05M	-37.97M	-36.05M	-63.13M	-34M	-18.94M	-118M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	34.35M	0	0	0	0	0	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	-538.63K	4.8M	-19.19M	58.48M	82.62M	529.4M	-406.37M	-951.68M	-1.06B	1.68B
Operating CF Growth %	-14.4%	9.92%	-5%	4.05%	0.41%	5.41%	-1.77%	-1.34%	-0.12%	2.58%
Net Income	-492K	6.3M	19.23M	7.15M	24.16M	128.5M	325.12M	193.16M	375.54M	84.52M
Depreciation & Amortization	3.31K	199K	233K	2.03M	1.1M	2.69M	3.42M	5.14M	14.6M	17.16M
Deferred Taxes	-240	-1.07M	347K	-580K	182K	1.65M	-4.68M	-811K	800K	-19.7M
Other Non-Cash Items	0	-7.42M	-16.42M	7.22M	45.89M	382.37M	-23.2M	-95.2M	-154.27M	1.55B
Working Capital Changes	-49.7K	6.8M	-24.21M	39.15M	9.81M	13.56M	-714.88M	-1.06B	-1.32B	-5.54M
Cash from Investing+	8.59M	-2.7M	-869K	-6.73M	-19.76M	6.35M	-146.32M	-1.46B	-638.22M	-905.47M
Purchase of Investments	0	0	97.76M	0	0	-273.82M	-248.74M	-330.1M	-229.91M	-525.25M
Sale/Maturity of Investments	0	144K	-1000K	231K	0	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	8.59M	-2.77M	432K	-2.24M	0	-62.71M	0	-26.81M	-53.76M	-23.66M
Other Investing	0	38K	679K	264K	-17.77M	154.04M	-90.76M	-1.33B	-571.14M	-435.67M
Cash from Financing+	180K	11.77M	64.78M	-42.32M	58.08M	492.52M	618.53M	2.13B	1.67B	-1.58M
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Stock Issued	0	0	40.44M	0	455K	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	1000K	1000K	1000K	1000K	-1000K	1000K	1000K	1000K	1000K
Other Financing	180K	8.68M	8.5M	-59.42M	44.28M	493.95M	608.44M	1.69B	1.41B	-232.36M
Net Change in Cash+	8.23M	15.98M	42.84M	727K	95.79M	1.02B	11.42M	-203.35M	-19.22M	637.05M
Exchange Rate Effect	0	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K
Cash at Beginning	402.72K	19.38M	35.37M	87.69M	91.39M	196.74M	1.22B	1.23B	1.03B	1.01B
Cash at End	8.63M	35.37M	78.2M	88.42M	187.18M	1.22B	1.23B	1.03B	1.01B	1.64B
Interest Paid	0	3.72M	13.1M	13.32M	8.7M	19.1M	37.85M	199.37M	474.66M	511.95M
Income Taxes Paid	0	356K	536K	1.29M	4.05M	11M	44.47M	53.18M	30.32M	53.92M
Free Cash Flow+	-538.83K	4.69M	-21.17M	53.49M	80.63M	527.88M	-411.99M	-990.23M	-1.11B	1.59B
FCF Growth %	-14.4%	9.7%	-5.51%	3.53%	0.51%	5.55%	-1.78%	-1.4%	-0.12%	2.43%

Banking Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-1467.1%	28.58%	13.39%	4.14%	20.14%	73.95%	55.33%	31.14%	38.76%	7.11%
Return on Assets (ROA)	-5.68%	9.67%	8.06%	2.1%	6.17%	11.72%	8.54%	4.93%	5.61%	0.93%
Net Interest Margin	0%	-3.14%	-4.46%	-4.17%	-2.25%	-1.07%	-2.38%	-4.11%	-6.04%	-5.41%
Efficiency Ratio	-	101.22%	38.3%	60.08%	30.79%	6.52%	8.48%	16.27%	14.33%	21.54%
Equity / Assets	1.21%	36.16%	69.05%	33.51%	28.45%	13.13%	16.92%	15.16%	14.06%	12.25%
Book Value / Share	0.01	3.91	6.83	2.02	2.22	4.72	9.21	12.95	19.66	20.08
NII Growth	-	-	-287.05%	0.58%	30.37%	-120.04%	-242.84%	-171.55%	-139.83%	-6.94%

Revenue by Segment

	2022	2023	2024	2025
Brokerage	-	-	621.95M	717.35M
Brokerage Growth	-	-	-	15.34%
Insurance	-	-	344.6M	683.03M
Insurance Growth	-	-	-	98.21%
Banking	-	-	615.87M	506.15M
Banking Growth	-	-	-	-17.82%
Other	-	-	83.93M	144M
Other Growth	-	-	-	71.58%

Revenue by Geography

	2022	2023	2024	2025
KAZAKHSTAN	-	-	-	1.75B
KAZAKHSTAN Growth	-	-	-	-
ARMENIA	-	-	-	181.7M
ARMENIA Growth	-	-	-	-
CYPRUS	-	-	-	69.49M
CYPRUS Growth	-	-	-	-
UNITED STATES	9.14M	13.08M	-	43.95M
UNITED STATES Growth	-	43.14%	-	-
Other Countries	-	-	-	5.3M
Other Countries Growth	-	-	-	-
Central Asia and Eastern Europe	-	566.05M	-	-
Central Asia and Eastern Europe Growth	-	-	-	-
Europe, excluding Eastern Europe	-	216.52M	-	-
Europe, excluding Eastern Europe Growth	-	-	-	-
Middle East	-	43K	-	-
Middle East Growth	-	-	-	-
Europe	437.71M	-	-	-
Europe Growth	-	-	-	-
Asia	118.07M	-	-	-
Asia Growth	-	-	-	-
RUSSIAN FEDERATION	-249K	-	-	-
RUSSIAN FEDERATION Growth	-	-	-	-

Frequently Asked Questions

Valuation & Price

Freedom Holding Corp. (FRHC) has a price-to-earnings (P/E) ratio of 90.1x. This suggests investors expect higher future growth.

Growth & Financials

Freedom Holding Corp. (FRHC) grew revenue by 22.7% over the past year. This is strong growth.

Yes, Freedom Holding Corp. (FRHC) is profitable, generating $4.7M in net income for fiscal year 2025 (4.2% net margin).

Dividend & Returns

Freedom Holding Corp. (FRHC) has a return on equity (ROE) of 7.1%. This is below average, suggesting room for improvement.

Industry Metrics

Freedom Holding Corp. (FRHC) has a net interest margin (NIM) of -5.4%. NIM has been under pressure due to interest rate environment.

Freedom Holding Corp. (FRHC) has an efficiency ratio of 21.5%. This is excellent, indicating strong cost control.

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Freedom Holding Corp. (FRHC) 10-Year Financial Performance & Capital Metrics

FRHC • • Banking & Credit

Financial ServicesCapital MarketsSecurities Brokerage & Wealth ManagementInstitutional Brokerage & Wealth Management

Net Interest Income -$536M -6.9%
Total Revenue $2.03B +22.7%
Net Income $85M -77.5%
Return on Equity 7.11% -81.7%
Net Interest Margin -5.41% +10.4%
Efficiency Ratio 21.54% +50.3%
ROA 0.93% -83.4%
Equity / Assets 12.25% -12.9%
Book Value per Share 20.08 +2.1%
Tangible BV/Share 18.37 +2.2%
Debt/Equity 1.61 -38.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 25.7%
✓Strong 5Y profit CAGR of 27.8%
✓Efficient operations: 21.5% efficiency ratio
✓Well capitalized: 12.2% equity/assets
✓Diversified revenue: 100.0% from non-interest income

✗Weaknesses

✗Weak NIM of -5.4%
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y89.42%

3Y43.39%

TTM-

Profit (Net Income) CAGR

10Y-

5Y27.79%

3Y-28.07%

TTM-98.62%

EPS CAGR

10Y-

5Y26.63%

3Y-28.56%

TTM-98.59%

ROCE

10Y Avg32.51%

5Y Avg52.51%

3Y Avg38.66%

Latest25.44%

Peer Comparison

Institutional Brokerage & Wealth Management

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FRHCFreedom Holding Corp.	7.71B	126.09	90.06	22.74%	4.16%	0.39%	20.56%	1.61
WHGWestwood Holdings Group, Inc.	173.67M	18.46	71	5.5%	2.33%	5.76%	12.1%	0.03
LPLALPL Financial Holdings Inc.	30.16B	376.83	26.86	23.2%	8.55%	22.03%		1.96
SFStifel Financial Corp.	13.26B	130.20	20.83	15.45%	12.42%	11.53%	3.14%	0.49
RJFRaymond James Financial, Inc.	33.88B	171.55	16.66	7.94%	13.42%	17.07%	6.63%	0.35
OPYOppenheimer Holdings Inc.	823.46M	79.02	12.41	14.71%	5%	9.21%		0.81
GSIWGarden Stage Limited Ordinary Shares	29.89M	0.14	-0.49	295.95%	-79.91%	14.93%		0.03
DOMHDominari Holdings Inc.	66.61M	4.16	-1.75	7.9%	-81.03%	52.5%		0.08

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Net Interest Income+	0	-3.81M	-14.73M	-14.65M	-10.2M	-22.44M	-76.95M	-208.95M	-501.11M	-535.89M
NII Growth %	-	-	-2.87%	0.01%	0.3%	-1.2%	-2.43%	-1.72%	-1.4%	-0.07%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	1.59K	3.81M	14.73M	14.65M	10.2M	22.44M	76.95M	208.95M	501.11M	535.89M
Loan Loss Provision	1.71K	-3.46M	-12.45M	-8.41M	9.21M	123.93M	109.7M	15.86M	-8.64M	427.73M
Non-Interest Income+	0	19.36M	57.76M	74.28M	83.39M	346.88M	689.79M	795.69M	1.66B	2.03B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	0	19.36M	57.76M	74.28M	83.39M	346.88M	689.79M	795.69M	1.66B	2.03B
Revenue Growth %	-	-	1.98%	0.29%	0.12%	3.16%	0.99%	0.15%	1.08%	0.23%
Non-Interest Expense	493.83K	19.59M	22.12M	44.63M	25.68M	22.63M	58.49M	129.45M	237.4M	438.06M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	-493.83K	-581.97K	33.35M	23.41M	38.3M	177.87M	444.65M	441.44M	926.79M	631.77M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-5.14%	-0.18%	58.3%	-0.3%	0.64%	3.64%	1.5%	-0.01%	1.1%	-0.32%
Pretax Income+	-492.24K	5.77M	18.61M	8.52M	29.09M	151.81M	363.69M	235.94M	435.37M	112.95M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-240	-524K	418K	1.37M	4.93M	23.31M	38.57M	42.78M	60.42M	28.43M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	-492K	6.29M	18.2M	7.15M	24.84M	149.65M	227.49M	205.14M	375.54M	84.65M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-25.19%	13.78%	1.89%	-0.61%	2.48%	5.03%	0.52%	-0.1%	0.83%	-0.77%
Net Income (Continuing)	-492K	6.3M	18.2M	7.15M	24.16M	128.5M	325.12M	193.16M	374.95M	84.52M
EPS (Diluted)+	-0.05	0.56	0.54	0.12	0.43	2.56	3.84	3.45	6.33	1.40
EPS Growth %	-	12.11%	-0.04%	-0.78%	2.58%	4.95%	0.5%	-0.1%	0.83%	-0.78%
EPS (Basic)	-0.05	0.56	0.55	0.12	0.43	2.56	3.84	3.50	6.37	1.43
Diluted Shares Outstanding	9.77M	11.21M	33.39M	58.24M	58.25M	58.44M	59.38M	59.5M	59.36M	60.49M

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash & Short Term Investments+	99.68K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	99.68K	22.62M	64.53M	49.96M	63.21M	168.02M	225.46M	581.42M	545.08M	837.3M
Short Term Investments	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	0	81.58M	212.32M	167.95M	162.98M	587.55M	1.32B	2.66B	3.91B	2.82B
Investments Growth %	-	-	1.6%	-0.21%	-0.03%	2.6%	1.25%	1.01%	0.47%	-0.28%
Long-Term Investments	0	0	1.06M	0	0	0	0	4M	372K	69.74M
Accounts Receivables	0	471K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	981K	1.8M	2.94M	2.61M	7.14M	5.9M	14.19M	52.65M	49.09M
Intangible Assets	0	125K	586K	4.23M	3.42M	3.9M	5.16M	17.61M	47.67M	54.19M
PP&E (Net)	5.43K	971K	1.78M	5.56M	20.93M	20.2M	25.25M	84.36M	119.33M	230.93M
Other Assets	0	355K	310K	883K	716K	7.36M	4.9M	5.75M	6.5M	8.19M
Total Current Assets	8.68M	117.91M	323.51M	336.04M	425.28M	2.06B	3.19B	4.96B	8.08B	9.5B
Total Non-Current Assets	5.43K	3.46M	6.57M	14.87M	28.24M	38.59M	42.07M	125.91M	226.51M	412.13M
Total Assets+	8.69M	121.36M	330.09M	350.91M	453.52M	2.1B	3.23B	5.08B	8.3B	9.91B
Asset Growth %	0.01%	12.97%	1.72%	0.06%	0.29%	3.63%	0.54%	0.57%	0.63%	0.19%
Return on Assets (ROA)	-0.06%	0.1%	0.08%	0.02%	0.06%	0.12%	0.09%	0.05%	0.06%	0.01%
Accounts Payable	50.23K	533K	8.93M	32.79M	8.52M	23.47M	50.55M	130.87M	886.24M	1.34B
Total Debt+	0	59.75M	172.76M	106.17M	134.88M	414.25M	885.66M	1.61B	3.07B	1.95B
Net Debt	-99.68K	37.13M	108.23M	56.21M	71.68M	246.23M	660.19M	1.03B	2.52B	1.12B
Long-Term Debt	0	3.46M	11.22M	32.55M	72.3M	34.72M	37.93M	60.03M	276.72M	494.41M
Short-Term Debt	0	56.29M	161.82M	73.62M	48.2M	374.72M	840.22M	1.52B	2.76B	1.42B
Other Liabilities	0	9.26M	211.97M	-72.01M	-158.46M	19.66M	115.31M	541.67M	728.61M	949.34M
Total Current Liabilities	50.33K	64.75M	193.05M	190.75M	227.83M	1.76B	2.51B	3.64B	6.03B	7.22B
Total Non-Current Liabilities	8.53M	12.72M	21.94M	42.57M	96.66M	63.2M	178.72M	675.79M	1.1B	1.48B
Total Liabilities	8.58M	77.48M	214.99M	233.31M	324.49M	1.82B	2.68B	4.31B	7.13B	8.7B
Total Equity+	105.16K	43.89M	227.94M	117.6M	129.04M	275.67M	546.61M	770.74M	1.17B	1.21B
Equity Growth %	3.76%	416.36%	4.19%	-0.48%	0.1%	1.14%	0.98%	0.41%	0.51%	0.04%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	-14.67%	0.29%	0.13%	0.04%	0.2%	0.74%	0.55%	0.31%	0.39%	0.07%
Book Value per Share	0.01	3.91	6.83	2.02	2.22	4.72	9.21	12.95	19.66	20.08
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	280.34K	11K	58K	58K	58K	58K	59K	59K	60K	61K
Additional Paid-in Capital	455.45K	34.66M	100.18M	99.09M	102.89M	104.67M	174.75M	164.16M	183.79M	246.61M
Retained Earnings	-630.63K	16.15M	35.39M	41.5M	66.33M	208.63M	441.92M	647.06M	998.74M	1.09B
Accumulated OCI	0	-6.94M	-7.39M	-23.05M	-37.97M	-36.05M	-63.13M	-34M	-18.94M	-118M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	34.35M	0	0	0	0	0	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	-538.63K	4.8M	-19.19M	58.48M	82.62M	529.4M	-406.37M	-951.68M	-1.06B	1.68B
Operating CF Growth %	-14.4%	9.92%	-5%	4.05%	0.41%	5.41%	-1.77%	-1.34%	-0.12%	2.58%
Net Income	-492K	6.3M	19.23M	7.15M	24.16M	128.5M	325.12M	193.16M	375.54M	84.52M
Depreciation & Amortization	3.31K	199K	233K	2.03M	1.1M	2.69M	3.42M	5.14M	14.6M	17.16M
Deferred Taxes	-240	-1.07M	347K	-580K	182K	1.65M	-4.68M	-811K	800K	-19.7M
Other Non-Cash Items	0	-7.42M	-16.42M	7.22M	45.89M	382.37M	-23.2M	-95.2M	-154.27M	1.55B
Working Capital Changes	-49.7K	6.8M	-24.21M	39.15M	9.81M	13.56M	-714.88M	-1.06B	-1.32B	-5.54M
Cash from Investing+	8.59M	-2.7M	-869K	-6.73M	-19.76M	6.35M	-146.32M	-1.46B	-638.22M	-905.47M
Purchase of Investments	0	0	97.76M	0	0	-273.82M	-248.74M	-330.1M	-229.91M	-525.25M
Sale/Maturity of Investments	0	144K	-1000K	231K	0	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	8.59M	-2.77M	432K	-2.24M	0	-62.71M	0	-26.81M	-53.76M	-23.66M
Other Investing	0	38K	679K	264K	-17.77M	154.04M	-90.76M	-1.33B	-571.14M	-435.67M
Cash from Financing+	180K	11.77M	64.78M	-42.32M	58.08M	492.52M	618.53M	2.13B	1.67B	-1.58M
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Stock Issued	0	0	40.44M	0	455K	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	1000K	1000K	1000K	1000K	-1000K	1000K	1000K	1000K	1000K
Other Financing	180K	8.68M	8.5M	-59.42M	44.28M	493.95M	608.44M	1.69B	1.41B	-232.36M
Net Change in Cash+	8.23M	15.98M	42.84M	727K	95.79M	1.02B	11.42M	-203.35M	-19.22M	637.05M
Exchange Rate Effect	0	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K
Cash at Beginning	402.72K	19.38M	35.37M	87.69M	91.39M	196.74M	1.22B	1.23B	1.03B	1.01B
Cash at End	8.63M	35.37M	78.2M	88.42M	187.18M	1.22B	1.23B	1.03B	1.01B	1.64B
Interest Paid	0	3.72M	13.1M	13.32M	8.7M	19.1M	37.85M	199.37M	474.66M	511.95M
Income Taxes Paid	0	356K	536K	1.29M	4.05M	11M	44.47M	53.18M	30.32M	53.92M
Free Cash Flow+	-538.83K	4.69M	-21.17M	53.49M	80.63M	527.88M	-411.99M	-990.23M	-1.11B	1.59B
FCF Growth %	-14.4%	9.7%	-5.51%	3.53%	0.51%	5.55%	-1.78%	-1.4%	-0.12%	2.43%

Banking Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-1467.1%	28.58%	13.39%	4.14%	20.14%	73.95%	55.33%	31.14%	38.76%	7.11%
Return on Assets (ROA)	-5.68%	9.67%	8.06%	2.1%	6.17%	11.72%	8.54%	4.93%	5.61%	0.93%
Net Interest Margin	0%	-3.14%	-4.46%	-4.17%	-2.25%	-1.07%	-2.38%	-4.11%	-6.04%	-5.41%
Efficiency Ratio	-	101.22%	38.3%	60.08%	30.79%	6.52%	8.48%	16.27%	14.33%	21.54%
Equity / Assets	1.21%	36.16%	69.05%	33.51%	28.45%	13.13%	16.92%	15.16%	14.06%	12.25%
Book Value / Share	0.01	3.91	6.83	2.02	2.22	4.72	9.21	12.95	19.66	20.08
NII Growth	-	-	-287.05%	0.58%	30.37%	-120.04%	-242.84%	-171.55%	-139.83%	-6.94%

Revenue by Segment

	2022	2023	2024	2025
Brokerage	-	-	621.95M	717.35M
Brokerage Growth	-	-	-	15.34%
Insurance	-	-	344.6M	683.03M
Insurance Growth	-	-	-	98.21%
Banking	-	-	615.87M	506.15M
Banking Growth	-	-	-	-17.82%
Other	-	-	83.93M	144M
Other Growth	-	-	-	71.58%

Revenue by Geography

	2022	2023	2024	2025
KAZAKHSTAN	-	-	-	1.75B
KAZAKHSTAN Growth	-	-	-	-
ARMENIA	-	-	-	181.7M
ARMENIA Growth	-	-	-	-
CYPRUS	-	-	-	69.49M
CYPRUS Growth	-	-	-	-
UNITED STATES	9.14M	13.08M	-	43.95M
UNITED STATES Growth	-	43.14%	-	-
Other Countries	-	-	-	5.3M
Other Countries Growth	-	-	-	-
Central Asia and Eastern Europe	-	566.05M	-	-
Central Asia and Eastern Europe Growth	-	-	-	-
Europe, excluding Eastern Europe	-	216.52M	-	-
Europe, excluding Eastern Europe Growth	-	-	-	-
Middle East	-	43K	-	-
Middle East Growth	-	-	-	-
Europe	437.71M	-	-	-
Europe Growth	-	-	-	-
Asia	118.07M	-	-	-
Asia Growth	-	-	-	-
RUSSIAN FEDERATION	-249K	-	-	-
RUSSIAN FEDERATION Growth	-	-	-	-

Frequently Asked Questions

Valuation & Price

Freedom Holding Corp. (FRHC) has a price-to-earnings (P/E) ratio of 90.1x. This suggests investors expect higher future growth.

Growth & Financials

Freedom Holding Corp. (FRHC) grew revenue by 22.7% over the past year. This is strong growth.

Yes, Freedom Holding Corp. (FRHC) is profitable, generating $4.7M in net income for fiscal year 2025 (4.2% net margin).

Dividend & Returns

Freedom Holding Corp. (FRHC) has a return on equity (ROE) of 7.1%. This is below average, suggesting room for improvement.

Industry Metrics

Freedom Holding Corp. (FRHC) has a net interest margin (NIM) of -5.4%. NIM has been under pressure due to interest rate environment.

Freedom Holding Corp. (FRHC) has an efficiency ratio of 21.5%. This is excellent, indicating strong cost control.