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Freedom Holding Corp. FRHC

Nasdaq · stock · Security Brokers, Dealers & Flotation Companies · website · IPO 1994-08-12 · LEI

Freedom Holding Corp. statistics & valuation

Market cap$7.9B
P / E51.5×
P / S3.6×
P / B5.3×
Net margin7.0%
Return on equity10.3%
FCF margin-0.6%
Graham number -75.5%$37.04

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($37.04); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
34.80% 9.60% 20.40% 43.10% 33.00% 25.70% 23.00% 3.80% 7.00% 2017201820192020202120222023202420252026
Gross margin (%)
2017201820192020202120222023202420252026
Operating margin (%)
2017201820192020202120222023202420252026
Return on equity (%)
-1.30% 15.10% 6.10% 16.60% 48.60% 41.10% 26.20% 32.20% 6.20% 10.30% 2017201820192020202120222023202420252026
Shares outstanding
11.2M 58.0M 58.2M 58.4M 58.44B 59.38B 59.7M 60.3M 61.0M 61.3M 2017201820192020202120222023202420252026
Net debt ($)
-$168.8M 2017201820192020202120222023202420252026
Share buybacks ($)
2017201820192020202120222023202420252026
Return on assets (%)
-0.50% 5.80% 2.00% 5.50% 7.40% 7.00% 4.00% 4.60% 0.80% 1.20% 2017201820192020202120222023202420252026
Free cash flow margin (%)
-38.30% 72.00% 32.50% 152.20% -59.70% -123.90% -66.80% 79.80% -0.60% 2017201820192020202120222023202420252026
Debt / equity (×)
0.00× 2017201820192020202120222023202420252026
EPS ($)
$0.38 $2.56 $3.84 $3.45 $6.39 $1.26 $2.51 2017201820192020202120222023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Freedom Holding Corp. trades at about 60.3× earnings — above its 10-year norm (10-year range 10.6×–113.4×, median 22.2×).

10.6× 113.4×

Shaded band = 10-year range (10.6×–113.4×); dot = today's 60.3×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Net margin7.0%3.8%23.0%25.7%33.0%43.1%20.4%9.6%34.8%—
FCF margin-0.6%79.8%-66.8%-123.9%-59.7%152.2%32.5%72.0%-38.3%—
Return on assets1.2%0.8%4.6%4.0%7.0%7.4%5.5%2.0%5.8%-0.5%
Return on equity10.3%6.2%32.2%26.2%41.1%48.6%16.6%6.1%15.1%-1.3%
Debt / equity—————0.00×————
Current ratio—————————0.98

Computed from company filings · US · as of 2026-03-31. Facts plus Stocktoria's own computed scores — not investment advice.