Freedom Holding Corp. logo

Freedom Holding Corp.

FRHC

NASDAQFinancial ServicesFinancial - Conglomerates

Previous close

$170.66

+$6.97 · +4.26%

Aug 21, 4:00 PM ET

FRHC company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

29

Expensive

Momentum

74

Gaining

Sentiment

46

Mixed

Risk resilience

55

Elevated Risk

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Company profile

Company website

Freedom Holding Corp. operates as a diverse financial services organization, offering a broad spectrum of services through its network of subsidiaries. The company specializes in retail and corporate financial solutions, encompassing brokerage, investment analysis, advisory services, securities trading, and market making. It also extends into retail banking, corporate investment banking, and underwriting. For individual and institutional investors, the firm provides access to an extensive range of financial instruments, including equities and debt securities traded on exchanges and over-the-counter, money market products, exchange-traded options and futures, government bonds, and mutual funds. Complementing these offerings, it facilitates margin lending secured by client assets, delivers educational courses for investors, and conducts detailed investment research. The company's commercial banking operations furnish essential services such as payment cards, digital mortgage processing, and digital auto loans. Furthermore, it makes various insurance products accessible to its clientele. In the realm of corporate finance, Freedom Holding Corp. assists businesses in capital raising through initial public offerings (IPOs) and subsequent share offerings. It also crafts and distributes debt capital market solutions, supporting diverse corporate needs like acquisitions, leveraged buyouts, funding for growth, and financial restructuring. Beyond client-focused services, the company actively participates in proprietary trading and investment activities. This includes engaging in repurchase and reverse repurchase agreements, managing short positions, and settling other securities-related obligations to address customer requirements and finance its own asset holdings. Operational efficiency is enhanced by its proprietary Tradernet software platform, which plays a crucial role in assessing client margin risk and managing middle office security transfers. Headquartered in Almaty, Kazakhstan, and established in 1981, the company maintains a significant global footprint, conducting operations across Central Asia, Europe, the United States, Russia, and the Middle East/Caucasus regions. It was previously known as BMB Munai, Inc. before rebranding as Freedom Holding Corp.

Industry
Financial - Conglomerates
Sector
Financial Services
Headquarters
US
CEO
Timur Ruslanovich Turlov
Listed since
Feb 7, 2018
Employees
12,100

Market position

Day range

Current $170.66

52-week range

Current $170.66

Open
$166.46
Previous close
$163.69
Volume
204.68K
1.44× average
Average volume
141.84K
Average daily volume
Market cap
10.46B USD
Beta
0.67
Market reference 1
50-day average
$149.88
+13.87% above average
200-day average
$139.74
+22.13% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
10.06B USD
P/E (TTM)
66.4×
P/B (TTM)
6.81×
P/S (TTM)
4.46×
EV / EBITDA
13.42×
Earnings yield
1.76%
Free cash flow yield
-0.44%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
66.31%
Operating margin
41.04%
Net margin
6.59%
Return on equity
10.30%
Return on assets
1.17%
Return on invested capital
9.64%

Financial health

Debt / equity
1.82×
Current ratio
1.35×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends80%52%25%-3%Gross margin, FY2022: 72.94%Gross margin, FY2023: 71.75%Gross margin, FY2024: 70.27%Gross margin, FY2025: 52.61%Gross margin, FY2026: 72.17%Operating margin, FY2022: 64.46%Operating margin, FY2023: 55.48%Operating margin, FY2024: 55.94%Operating margin, FY2025: 31.07%Operating margin, FY2026: 32.63%Net margin, FY2022: 32.98%Net margin, FY2023: 25.78%Net margin, FY2024: 22.67%Net margin, FY2025: 4.16%Net margin, FY2026: 7.00%FY2022FY2023FY2024FY2025FY2026
Gross margin FY2022 72.94%. Gross margin FY2023 71.75%. Gross margin FY2024 70.27%. Gross margin FY2025 52.61%. Gross margin FY2026 72.17%. Operating margin FY2022 64.46%. Operating margin FY2023 55.48%. Operating margin FY2024 55.94%. Operating margin FY2025 31.07%. Operating margin FY2026 32.63%. Net margin FY2022 32.98%. Net margin FY2023 25.78%. Net margin FY2024 22.67%. Net margin FY2025 4.16%. Net margin FY2026 7.00%.

Income trends

Revenue

2.19B USD+7.76%

Operating income

715M USD+13.17%

Net income

153.33M USD+81.13%
Income trends across reported periods2.4B USD1.56B USD716.64M USD−126.01M USDRevenue, FY2022: 689.79M USDRevenue, FY2023: 795.69M USDRevenue, FY2024: 1.66B USDRevenue, FY2025: 2.03B USDRevenue, FY2026: 2.19B USDOperating income, FY2022: 444.65M USDOperating income, FY2023: 441.44M USDOperating income, FY2024: 926.79M USDOperating income, FY2025: 631.77M USDOperating income, FY2026: 715M USDNet income, FY2022: 227.49M USDNet income, FY2023: 205.14M USDNet income, FY2024: 375.54M USDNet income, FY2025: 84.65M USDNet income, FY2026: 153.33M USDFY2022FY2023FY2024FY2025FY2026
Revenue FY2022 689.79M USD. Revenue FY2023 795.69M USD. Revenue FY2024 1.66B USD. Revenue FY2025 2.03B USD. Revenue FY2026 2.19B USD. Operating income FY2022 444.65M USD. Operating income FY2023 441.44M USD. Operating income FY2024 926.79M USD. Operating income FY2025 631.77M USD. Operating income FY2026 715M USD. Net income FY2022 227.49M USD. Net income FY2023 205.14M USD. Net income FY2024 375.54M USD. Net income FY2025 84.65M USD. Net income FY2026 153.33M USD.
Metric (USD)FY2026FY2025FY2024FY2023FY2022
Revenue2.19B USD2.03B USD1.66B USD795.69M USD689.79M USD
Cost of goods sold609.87M USD963.62M USD492.47M USD224.81M USD186.64M USD
Gross profit1.58B USD1.07B USD1.16B USD570.89M USD503.15M USD
Selling, general, and administrative866.42M USD375.62M USD216.17M USD100.33M USD55.99M USD
Operating expenses866.42M USD438.06M USD237.4M USD129.45M USD58.49M USD
Interest expense489.04M USD535.9M USD501.11M USD208.95M USD76.95M USD
Depreciation and amortization34.56M USD17.16M USD14.6M USD5.14M USD3.42M USD
Operating income715M USD631.77M USD926.79M USD441.44M USD444.65M USD
Net income153.33M USD84.65M USD375.54M USD205.14M USD227.49M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
30%
3 beats, 6 misses, 1 met estimate
Average EPS surprise
-18.63%
10 comparable reports
Latest EPS result
0.52
Estimate 0.87 · Miss by 40.23%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates1.580.17-1.24-2.65Q1 '25BeatQ2 '25No estimateQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 7, 2025: actual 1.29, estimate 1.14, surprise +13.16%, Beat. Q2 2025, reported Jun 13, 2025: actual -2.36, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 8, 2025: actual 0.5, estimate 1.1, surprise -54.55%, Miss. Q4 2025, reported Nov 7, 2025: actual 0.63, estimate 0.85, surprise -25.88%, Miss. Q1 2026, reported Feb 9, 2026: actual 1.25, estimate 1.1, surprise +13.64%, Beat. Q2 2026, reported Jun 1, 2026: actual 0.13, estimate 0.87, surprise -85.06%, Miss. Q3 2026, reported Aug 10, 2026: actual 0.52, estimate 0.87, surprise -40.23%, Miss. Q4 2026, reported Nov 6, 2026: actual —, estimate 0.87, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates781.2M555.97M330.74M105.52MQ1 '25BeatQ2 '25No estimateQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 7, 2025: actual 576.44M USD, estimate 168.76M USD, surprise +241.57%, Beat. Q2 2025, reported Jun 13, 2025: actual 445.78M USD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 8, 2025: actual 524.86M USD, estimate 153.42M USD, surprise +242.10%, Beat. Q4 2025, reported Nov 7, 2025: actual 655.19M USD, estimate 136.55M USD, surprise +379.81%, Beat. Q1 2026, reported Feb 9, 2026: actual 615.57M USD, estimate 185.21M USD, surprise +232.37%, Beat. Q2 2026, reported Jun 1, 2026: actual 466.7M USD, estimate 124.14M USD, surprise +275.95%, Beat. Q3 2026, reported Aug 10, 2026: actual 732.53M USD, estimate 124.14M USD, surprise +490.10%, Beat. Q4 2026, reported Nov 6, 2026: actual —, estimate 124.14M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$159

6.83% downside
Past 12 months12-month forecastHigh $180Average $159Low $138

FRHC news

Corporate actions

Corporate action history

Dividend

Ex-dividend Sep 3, 2002

$1.33

Special

Record Aug 23, 2002

FRHC peers

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