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FRHCFreedom Holding Corp.
$143.70$8.8B
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FRHC logoFreedom Holding Corp.(FRHC)Earnings, Financials & Key Ratios

FRHC•NASDAQ•Banking & Credit
57.3× P/E·Price updated Jun 19, 2026
SectorFinancial ServicesIndustryCapital MarketsSub-IndustryBrokerage, Trading and Market Making
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-$489M+8.7%
  • Total Revenue$2.19B+7.8%
  • Net Income$153M+81.1%
  • Return on Equity11.34%+59.5%
  • Net Interest Margin-3.72%+31.2%
  • Efficiency Ratio39.54%+83.5%
  • ROA1.33%+43.0%
  • Equity / Assets11.32%-7.6%
  • Book Value per Share24.37+21.4%

FRHC Key Insights

Freedom Holding Corp. (FRHC) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓Efficient operations: 39.5% efficiency ratio
  • ✓Well capitalized: 11.3% equity/assets
  • ✓Good 3Y average ROE of 19.1%
  • ✓Diversified revenue: 100.0% from non-interest income

✗Weaknesses

  • ✗Weak NIM of -3.7%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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FRHC Price & Volume

Freedom Holding Corp. (FRHC) stock price & volume — 10-year historical chart

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FRHC Growth Metrics

Freedom Holding Corp. (FRHC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years44.58%
3 Years40.17%
TTM-

Profit CAGR

10 Years-
5 Years0.49%
3 Years-9.25%
TTM81.13%

EPS CAGR

10 Years-
5 Years-0.39%
3 Years-10.06%
TTM78.01%

Return on Capital

10 Years35.22%
5 Years44.18%
3 Years32.22%
Last Year21.32%

FRHC Recent Earnings

Freedom Holding Corp. (FRHC) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 1/12 qtrs (50%)●Beat Revenue 2/12 qtrs (100%)
Q3 2026Latest
Jun 1, 2026
Metric
Actual
Est
EPS
$0.13-85.1%
$0.87
Rev
$467M+276.0%
$124M
Q1 2026
Feb 9, 2026
Metric
Actual
Est
EPS
$1.25+43.7%
$0.87
Rev
$616M+395.9%
$124M
Q4 2025
Nov 7, 2025
Metric
Actual
Est
EPS
$0.63
—
Rev
$531M
—
Q3 2025
Aug 8, 2025
Metric
Actual
Est
EPS
$0.50
—
Rev
$525M
—
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026LatestJun 1, 2026
$0.13vs $0.87-85.1%
$467Mvs $124M+276.0%
Q1 2026Feb 9, 2026
$1.25vs $0.87+43.7%
$616Mvs $124M+395.9%
Q4 2025Nov 7, 2025
$0.63
$531M
Q3 2025Aug 8, 2025
$0.50
$525M
Based on last 12 quarters of dataView full earnings history →

FRHC Peer Comparison

Freedom Holding Corp. (FRHC) competitors in Brokerage, Trading and Market Making — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
IBKR logoIBKRInteractive Brokers Group, Inc.Direct Competitor42.78B96.0043.249.83%9.62%5.18%0.00
LPLA logoLPLALPL Financial Holdings Inc.Direct Competitor23.57B293.9526.9237.18%5.08%18.57%1.36
VIRT logoVIRTVirtu Financial, Inc.Direct Competitor5.38B63.0712.2926.25%14.17%29.37%4.55
MKTX logoMKTXMarketAxess Holdings Inc.Direct Competitor4.28B120.3318.073.82%35.34%24.02%0.25
SNEX logoSNEXStoneX Group Inc.Direct Competitor11.02B139.0135.3732.53%0.3%19.31%7.79
SCHW logoSCHWThe Charles Schwab CorporationProduct Competitor160.66B91.7019.686.45%33.26%25.42%0.63
RJF logoRJFRaymond James Financial, Inc.Product Competitor30.72B155.8615.137.94%13.13%16.36%0.36
SF logoSFStifel Financial Corp.Product Competitor11.38B73.5412.516.94%10.86%11.96%0.36

Compare FRHC vs Peers

Freedom Holding Corp. (FRHC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs IBKR

Most directly comparable listed peer for FRHC.

Scale Benchmark

vs SCHW

Larger-name benchmark to compare FRHC against a more recognizable public peer.

Peer Set

Compare Top 5

vs IBKR, LPLA, VIRT, MKTX

FRHC Income Statement

Freedom Holding Corp. (FRHC) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricMar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Net Interest Income
-14.73M-14.65M-10.2M-22.44M-76.95M-208.95M-501.11M-535.89M-489.04M
NII Growth %
-287.05%0.58%30.37%-120.04%-242.84%-171.55%-139.83%-6.94%8.74%
Net Interest Margin %
-4.46%-4.17%-2.25%-1.07%-2.38%-4.11%-6.04%-5.41%-3.72%
Interest Income
000000000
Interest Expense
14.73M14.65M10.2M22.44M76.95M208.95M501.11M535.89M489.04M
Loan Loss Provision
-12.45M-8.41M9.21M123.93M109.7M15.86M-8.64M427.73M120.83M
Non-Interest Income
57.76M74.28M83.39M346.88M689.79M795.69M1.66B2.03B2.19B
Non-Interest Income %
100%100%100%100%100%100%100%100%100%
Total Revenue
57.76M▲ 0%
74.28M▲ 28.6%
83.39M▲ 12.3%
346.88M▲ 316.0%
689.79M▲ 98.9%
795.69M▲ 15.4%
1.66B▲ 108.2%
2.03B▲ 22.7%
2.19B▲ 7.8%
Revenue Growth %
198.38%28.62%12.26%315.96%98.85%15.35%108.2%22.74%7.76%
Non-Interest Expense
22.12M44.63M25.68M22.63M58.49M129.45M237.4M438.06M866.42M
Efficiency Ratio
38.3%60.08%30.79%6.52%8.48%16.27%14.33%21.54%39.54%
Operating Income
33.35M▲ 0%
23.41M▼ 29.8%
38.3M▲ 63.6%
177.87M▲ 364.4%
444.65M▲ 150.0%
441.44M▼ 0.7%
926.79M▲ 109.9%
631.77M▼ 31.8%
715M▲ 13.2%
Operating Margin %
57.73%31.52%45.93%51.28%64.46%55.48%55.94%31.07%32.63%
Operating Income Growth %
5829.81%-29.78%63.57%364.42%149.98%-0.72%109.95%-31.83%13.17%
Pretax Income
18.61M▲ 0%
8.52M▼ 54.3%
29.09M▲ 241.6%
151.81M▲ 421.8%
363.69M▲ 139.6%
235.94M▼ 35.1%
435.37M▲ 84.5%
112.95M▼ 74.1%
225.97M▲ 100.1%
Pretax Margin %
32.23%11.46%34.88%43.76%52.73%29.65%26.28%5.55%10.31%
Income Tax
418K1.37M4.93M23.31M38.57M42.78M60.42M28.43M72.64M
Effective Tax Rate %
2.25%16.07%16.96%15.35%10.61%18.13%13.88%25.17%32.15%
Net Income
18.2M▲ 0%
7.15M▼ 60.7%
24.84M▲ 247.5%
149.65M▲ 502.5%
227.49M▲ 52.0%
205.14M▼ 9.8%
375.54M▲ 83.1%
84.65M▼ 77.5%
153.33M▲ 81.1%
Net Margin %
31.51%9.62%29.78%43.14%32.98%25.78%22.67%4.16%7%
Net Income Growth %
189.44%-60.72%247.52%502.53%52.02%-9.83%83.07%-77.46%81.13%
Net Income (Continuing)
18.2M7.15M24.16M128.5M325.12M193.16M374.95M84.52M153.33M
EPS (Diluted)
0.54▲ 0%
0.12▼ 77.8%
0.43▲ 258.3%
2.56▲ 495.3%
3.84▲ 50.0%
3.45▼ 10.2%
6.33▲ 83.5%
1.40▼ 77.9%
2.51▲ 79.3%
EPS Growth %
-3.57%-77.78%258.33%495.35%50%-10.16%83.48%-77.88%79.29%
EPS (Basic)
0.550.120.432.563.843.506.371.432.56
Diluted Shares Outstanding
33.39M58.24M58.25M58.44M59.38M59.5M59.36M60.49M61.12M

FRHC Balance Sheet

Freedom Holding Corp. (FRHC) balance sheet — assets, liabilities & shareholders' equity

MetricMar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash & Short Term Investments
276.85M217.91M226.19M755.56M1.55B3.23B4.45B3.59B4.31B
Cash & Due from Banks
64.53M49.96M63.21M168.02M225.46M581.42M545.08M837.3M966.12M
Short Term Investments
212.32M167.95M162.98M587.55M1.32B2.65B3.91B2.75B3.34B
Total Investments
212.32M167.95M162.98M587.55M1.32B2.66B3.91B2.82B3.34B
Investments Growth %
160.27%-20.9%-2.96%260.5%124.62%101.22%47.07%-27.83%18.59%
Long-Term Investments
1.06M00004M372K69.74M0
Accounts Receivables
25.25M73.7M113.64M46.8M143.04M365.96M1.66B3.33B4.69B
Goodwill & Intangibles
2.38M7.16M6.03M11.04M11.06M31.81M100.32M103.28M124.42M
Goodwill
1.8M2.94M2.61M7.14M5.9M14.19M52.65M49.09M51.1M
Intangible Assets
586K4.23M3.42M3.9M5.16M17.61M47.67M54.19M73.32M
PP&E (Net)
1.78M5.56M20.93M20.2M25.25M84.36M119.33M230.93M358.4M
Other Assets
310K883K716K7.36M4.9M5.75M6.5M8.19M349.05M
Total Current Assets
323.51M336.04M425.28M2.06B3.19B4.96B8.08B9.5B12.32B
Total Non-Current Assets
6.57M14.87M28.24M38.59M42.07M125.91M226.51M412.13M831.86M
Total Assets
330.09M▲ 0%
350.91M▲ 6.3%
453.52M▲ 29.2%
2.1B▲ 363.1%
3.23B▲ 53.8%
5.08B▲ 57.4%
8.3B▲ 63.3%
9.91B▲ 19.4%
13.16B▲ 32.7%
Asset Growth %
171.98%6.31%29.24%363.11%53.8%57.4%63.28%19.42%32.69%
Return on Assets (ROA)
8.06%2.1%6.17%11.72%8.54%4.93%5.61%0.93%1.33%
Accounts Payable
8.93M32.79M8.52M23.47M50.55M130.87M886.24M1.34B689.64M
Total Debt
172.76M106.17M134.88M414.25M885.66M1.61B3.07B1.95B2.33B
Net Debt
108.23M56.21M71.68M246.23M660.19M1.03B2.52B1.12B1.37B
Long-Term Debt
11.22M32.55M72.3M34.72M37.93M60.03M276.72M494.41M1.26B
Short-Term Debt
161.82M73.62M48.2M374.72M840.22M1.52B2.76B1.42B1.02B
Other Liabilities
211.97M-72.01M-158.46M19.66M115.31M541.67M728.61M949.34M1.21B
Total Current Liabilities
193.05M190.75M227.83M1.76B2.51B3.64B6.03B7.22B9.15B
Total Non-Current Liabilities
21.94M42.57M96.66M63.2M178.72M675.79M1.1B1.48B2.52B
Total Liabilities
214.99M233.31M324.49M1.82B2.68B4.31B7.13B8.7B11.67B
Total Equity
227.94M▲ 0%
117.6M▼ 48.4%
129.04M▲ 9.7%
275.67M▲ 113.6%
546.61M▲ 98.3%
770.74M▲ 41.0%
1.17B▲ 51.4%
1.21B▲ 4.1%
1.49B▲ 22.6%
Equity Growth %
419.37%-48.41%9.73%113.64%98.28%41%51.41%4.06%22.64%
Equity / Assets (Capital Ratio)
69.05%33.51%28.45%13.13%16.92%15.16%14.06%12.25%11.32%
Return on Equity (ROE)
13.39%4.14%20.14%73.95%55.33%31.14%38.76%7.11%11.34%
Book Value per Share
6.832.022.224.729.2112.9519.6620.0824.37
Tangible BV per Share
6.751.902.114.539.0212.4217.9718.3722.33
Common Stock
58K58K58K58K59K59K60K61K61K
Additional Paid-in Capital
100.18M99.09M102.89M104.67M174.75M164.16M183.79M246.61M314.66M
Retained Earnings
35.39M41.5M66.33M208.63M441.92M647.06M998.74M1.09B1.23B
Accumulated OCI
-7.39M-23.05M-37.97M-36.05M-63.13M-34M-18.94M-118M-56.94M
Treasury Stock
000000000
Preferred Stock
34.35M00000000

FRHC Cash Flow Statement

Freedom Holding Corp. (FRHC) cash flow — operating, investing & free cash flow history

MetricMar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash from Operations
-19.19M58.48M82.62M529.4M-406.37M-951.68M-1.06B1.68B160.61M
Operating CF Growth %
-499.65%404.7%41.29%540.75%-176.76%-134.19%-11.84%257.94%-90.45%
Net Income
19.23M7.15M24.16M128.5M325.12M193.16M375.54M84.52M153.33M
Depreciation & Amortization
233K2.03M1.1M2.69M3.42M5.14M14.6M17.16M34.56M
Deferred Taxes
347K-580K182K1.65M-4.68M-811K800K-19.7M-12.3M
Other Non-Cash Items
-16.42M7.22M45.89M382.37M-23.2M-95.2M-1.03B1.55B376.02M
Working Capital Changes
-24.21M39.15M9.81M13.56M-714.88M-1.06B-448.46M-5.54M-459.05M
Cash from Investing
-869K-6.73M-19.76M6.35M-146.32M-1.46B-638.22M-905.47M-1.02B
Purchase of Investments
97.76M00-273.82M-248.74M-330.1M-229.91M-525.25M-800.99M
Sale/Maturity of Investments
-97.76M231K0190.34M198.8M260.63M260.34M174.43M407.11M
Net Investment Activity
0231K0-83.47M-49.94M-69.46M30.42M-350.82M-393.88M
Acquisitions
432K-2.24M0-62.71M0-26.81M-53.76M-23.66M-13.21M
Other Investing
679K264K-17.77M154.04M-90.76M-1.33B-571.14M-435.67M-395.31M
Cash from Financing
64.78M-42.32M58.08M492.52M618.53M2.13B1.67B-1.58M1.19B
Dividends Paid
000000000
Share Repurchases
000000000
Stock Issued
40.44M0455K118K119K677K000
Net Stock Activity
40.44M0455K118K119K677K000
Debt Issuance (Net)
1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Financing
8.5M-59.42M44.28M197.16M39.2M1.69B1.41B-232.36M0
Net Change in Cash
42.84M▲ 0%
727K▼ 98.3%
95.79M▲ 13076.5%
1.02B▲ 967.0%
11.42M▼ 98.9%
-203.35M▼ 1880.7%
-19.22M▲ 90.5%
637.05M▲ 3413.8%
440.88M▼ 30.8%
Exchange Rate Effect
-1.88M-8.69M-25.14M-6.13M-54.42M78.19M8.79M-137.04M113.19M
Cash at Beginning
35.37M87.69M91.39M196.74M1.22B1.23B1.03B1.01B1.56B
Cash at End
78.2M88.42M187.18M1.22B1.23B1.03B1.01B1.64B2B
Interest Paid
13.1M13.32M8.7M19.1M37.85M199.37M474.66M511.95M0
Income Taxes Paid
536K1.29M4.05M11M44.47M53.18M30.32M53.92M0
Free Cash Flow
-21.17M▲ 0%
53.49M▲ 352.6%
80.63M▲ 50.7%
527.88M▲ 554.7%
-411.99M▼ 178.0%
-990.23M▼ 140.4%
-1.11B▼ 11.9%
1.59B▲ 243.1%
-38.16M▼ 102.4%
FCF Growth %
-551.41%352.65%50.74%554.73%-178.05%-140.35%-11.91%243.1%-102.41%

FRHC Banking Ratios

Freedom Holding Corp. (FRHC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2017201820192020202120222023202420252026
Return on Equity (ROE)
28.58%13.39%4.14%20.14%73.95%55.33%31.14%38.76%7.11%11.34%
Return on Assets (ROA)
9.67%8.06%2.1%6.17%11.72%8.54%4.93%5.61%0.93%1.33%
Net Interest Margin
-3.14%-4.46%-4.17%-2.25%-1.07%-2.38%-4.11%-6.04%-5.41%-3.72%
Efficiency Ratio
101.22%38.3%60.08%30.79%6.52%8.48%16.27%14.33%21.54%39.54%
Equity / Assets
36.16%69.05%33.51%28.45%13.13%16.92%15.16%14.06%12.25%11.32%
Book Value / Share
3.916.832.022.224.729.2112.9519.6620.0824.37
NII Growth
--287.05%0.58%30.37%-120.04%-242.84%-171.55%-139.83%-6.94%8.74%
Related:FRHC Dividend History·FRHC Revenue History·FRHC Price History·FRHC P/E History·FRHC Financial Ratios·FRHC Institutional Holders

FRHC SEC Filings & Documents

Freedom Holding Corp. (FRHC) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jun 12, 2026·SEC

Material company update

Apr 9, 2026·SEC

Material company update

Oct 1, 2025·SEC

10-K Annual Reports

5
FY 2026

Jun 1, 2026·SEC

FY 2025

Jun 13, 2025·SEC

FY 2024

Jun 14, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Feb 9, 2026·SEC

FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 8, 2025·SEC

FRHC Frequently Asked Questions

Freedom Holding Corp. (FRHC) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Freedom Holding Corp. (FRHC) grew revenue by 7.8% over the past year. This is steady growth.

Yes, Freedom Holding Corp. (FRHC) is profitable, generating $153.3M in net income for fiscal year 2026 (7.0% net margin).

Dividend & Returns

Freedom Holding Corp. (FRHC) has a return on equity (ROE) of 11.3%. This is reasonable for most industries.

Industry Metrics

Freedom Holding Corp. (FRHC) has a net interest margin (NIM) of -3.7%. NIM has been under pressure due to interest rate environment.

Freedom Holding Corp. (FRHC) has an efficiency ratio of 39.5%. This is excellent, indicating strong cost control.

What if you invested $1,000 in FRHC back in 1997?

Total return calculator · dividends reinvested · 29+ years of data

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How much would $100/month in FRHC be worth today?

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