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FRHCFreedom Holding Corp.
$153.05$9.4B
Overview & Verdict
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FRHC logoFreedom Holding Corp.(FRHC)Earnings, Financials & Key Ratios

FRHC•NASDAQ
$153.05
61.0× P/E·Price updated Jul 7, 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
  • EBITDA$750M+15.5%
  • Net Income$153M+81.1%
  • EPS (Diluted)2.51+79.3%
  • Gross Margin72.17%+37.2%
  • EBITDA Margin34.21%+7.2%
  • Operating Margin32.63%+5.0%
  • Net Margin7%+68.1%
  • ROE11.34%+59.5%

FRHC Price & Volume

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

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Volatile Margin Expansion Masks Structural Liquidity Risks

Investment Thesis • Updated 2026Q4

VerdictNeutral
Growth:Mixed
Profitability:Strained
Financial:Mixed
Cash Flow:Mixed
Primary Risk:Regulatory and jurisdictional volatility

Key Thesis Takeaways

  • Freedom Holding Corp.
  • is undergoing a complex transition from a brokerage to a capital-intensive banking ecosystem, characterized by rapid asset growth from $7.4 billion in 2024Q3 to $13.2 billion in 2026Q4.
  • While the firm maintains a significant $4.3 billion cash buffer, investors should remain cautious regarding the extreme volatility in earnings quality and the erratic nature of free cash flow, which swung from a $1.3 billion inflow in 2025Q4 to a $1.5 billion outflow in 2026Q4.
  • The long-term outlook remains contingent on the firm's ability to stabilize operating margins, which have fluctuated between a negative 3.3% and a peak of 55.9% over the last two years.

Verdict Logic

while the firm holds a substantial $4.3 billion cash position, the extreme volatility in free cash flow and the recent surge in capital expenditure intensity to 72.7% of revenue warrant a cautious approach until operational stability is proven.

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 →

Latest FRHC News

Recent stock market news and headlines for Freedom Holding Corp. (FRHC)

Business Wire·1 day ago
LibertyStream Commissions Fully Automated Gen 6 System at Freedom Launchpad as Freedom 1 Site Preparation Advances

DALLAS--(BUSINESS WIRE)---- $LIB.v #criticalminerals--LibertyStream Infrastructure Partners Inc. (TSXV: LIB | OTCQB: VLTLF | FSE: I2D) (“LibertyStream” or the “Company”) is pleased to announce that it has commissioned its fully automated Gen 6 extraction system at Freedom Launchpad, the Company's training and customer-sample production platform at its first deployment site. The Gen 6 system is operating as expected and is now supporting lithium extraction and lithium carbonate production at the site. The system is designed.

Accesswire·3 days ago
Celebrating America's Enduring Spirit of Freedom and Opportunity

Publicly Traded ELEKTROS Inc. | Ticker Symbol:ELEK WEST PALM BEACH, FL / ACCESS Newswire / July 4, 2026 / On behalf of everyone at ELEKTROS Inc., we extend our warmest Independence Day wishes to our valued shareholders, business partners, veterans, active-duty military personnel, and families across America. The Fourth of July reminds us of the enduring values of liberty, courage, innovation, and opportunity.

Accesswire·3 days ago
United in Freedom: ELEKTROS Inc. Wishes Everyone a Happy Fourth of July

Publicly Traded ELEKTROS Inc. | Ticker Symbol:ELEK WEST PALM BEACH, FL / ACCESS Newswire / July 4, 2026 / On behalf of everyone at ELEKTROS Inc., we extend our warmest Independence Day wishes to our valued shareholders, business partners, veterans, active-duty military personnel, and families across America. The Fourth of July reminds us of the enduring values of liberty, courage, innovation, and opportunity.

Seeking Alpha·3 days ago
The Blueprint Of Financial Freedom: Celebrating Independence Day With The Income Method

The Power of Brief Frameworks: Just like the brief, enduring architecture of the U.S. Constitution, a simple four-point portfolio blueprint handily outlasts shifting modern macro narratives. Spreading capital across a minimum of 42 distinct positions structurally dilutes the fallout of unavoidable corporate modifications. Retaining a quarter of all contractual cash distributions creates a highly powerful, self-sustaining share accumulation engine.

Accesswire·4 days ago
Celebrating the Enduring Spirit of American Freedom

ELEKTROS Extends Its Warmest Independence Day Wishes to Shareholders, Families, and Communities Across the Nation Happy Independence Day! WEST PALM BEACH, FL / ACCESS Newswire / July 3, 2026 / On behalf of everyone at ELEKTROS Inc., we proudly extend our sincere best wishes to our valued shareholders, business partners, veterans, active-duty members of the Armed Forces, their families, and all Americans celebrating this Fourth of July.

Peers Comparison

Key metrics vs top competitors for Freedom Holding Corp. (FRHC)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
FRHC logoFRHCFreedom Holding Corp.Current
$153.05$9.38B60.987.76%7%11.34%—
IBKR logoIBKRInteractive Brokers Group, Inc.
$94.57$41.93B42.609.83%9.77%5.21%—
LPLA logoLPLALPL Financial Holdings Inc.
$307.58$24.6B28.1737.18%4.93%17.04%—
VIRT logoVIRTVirtu Financial, Inc.
$63.23$5.39B12.3326.25%14.17%29.37%—
MKTX logoMKTXMarketAxess Holdings Inc.
$118.60$4.21B17.813.82%35.34%24.02%—
SNEX logoSNEXStoneX Group Inc.
$121.49$9.63B30.9132.53%0.3%19.31%—

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 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

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FRHC Frequently Asked Questions

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

Growth & Financials
What is Freedom Holding Corp.'s revenue?

Freedom Holding Corp. (FRHC) reported $2.14B in revenue for fiscal year 2026.

How fast is Freedom Holding Corp. growing?

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

Is FRHC profitable?

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

Dividend & Returns
What is FRHC's return on equity?

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

What is Freedom Holding Corp.'s free cash flow?

Freedom Holding Corp. (FRHC) generated $55.6M in free cash flow for fiscal year 2026. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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

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

See returns →