NASDAQ : FRHC
Freedom Holding Corp. — Financial statements
Financials · Financial Conglomerates · United States
Last price 184.145 USD (Oct 30, 2026, 2:26 PM EDT) · Market cap 11.75B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Freedom Holding Corp. (FRHC) reported revenue of 1.75B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 979.01M | 882.48M | 864.45M | 828.22M | 294.69M | 121.61M |
| Total Interest Expense | 553.19M | 489.04M | 535.89M | 501.11M | 208.95M | 76.95M |
| Net Interest Income | 425.82M | 393.44M | 328.56M | 327.11M | 85.75M | 44.66M |
| Brokerage Commission | 538.86M | 489.76M | 505.03M | 440.33M | 327.21M | 335.21M |
| Trading & Principal Transactions | 193.00M | 158.82M | -57.81M | 133.85M | 71.08M | 155.25M |
| Other Revenue | 594.67M | 592.54M | 640.80M | 172.60M | 53.99M | 73.93M |
| Revenue | 1.75B | 1.63B | 1.42B | 1.07B | 538.04M | 609.05M |
| Salaries & Employee Benefits | 487.09M | 426.47M | 287.35M | 180.28M | 81.82M | 46.29M |
| Cost of Services Provided | 680.91M | 670.10M | 693.80M | 365.71M | 156.70M | 134.04M |
| Other Operating Expenses | 325.89M | 259.31M | 260.49M | 117.27M | 77.33M | 54.45M |
| Total Operating Expenses | 1.63B | 1.48B | 1.36B | 707.21M | 354.26M | 245.14M |
| Operating Income | 125.03M | 158.28M | 52.90M | 366.69M | 183.78M | 363.92M |
| Currency Exchange Gains | 94.30M | 67.68M | 51.68M | 72.25M | 52.15M | 3.79M |
| Other Non-Operating Income (Expenses) | -4.01M | |||||
| EBT Excluding Unusual Items | 219.32M | 225.97M | 104.58M | 438.94M | 235.94M | 363.69M |
| Pretax Income | 219.32M | 225.97M | 104.58M | 438.94M | 235.94M | 363.69M |
| Income Tax Expense | 71.69M | 72.64M | 28.43M | 60.42M | 42.78M | 38.57M |
| Earnings From Continuing Ops. | 147.63M | 153.33M | 76.16M | 378.52M | 193.16M | 325.12M |
| Earnings From Discontinued Ops. | 12.42M | -104.19M | ||||
| Net Income to Company | 147.63M | 153.33M | 76.16M | 378.52M | 205.59M | 220.93M |
| Minority Interest in Earnings | 129.00K | 588.00K | -446.00K | 6.57M | ||
| Net Income | 147.63M | 153.33M | 76.29M | 379.11M | 205.14M | 227.49M |
| Net Income to Common | 147.63M | 153.33M | 76.29M | 379.11M | 205.14M | 227.49M |
| Shares Outstanding (Basic) | 60.13M | 59.99M | 59.39M | 58.96M | 58.63M | 59.38M |
| Shares Outstanding (Diluted) | 61.17M | 61.12M | 60.49M | 59.36M | 59.50M | 59.38M |
| EPS (Basic) | 2.46 | 2.56 | 1.28 | 6.43 | 3.50 | 3.83 |
| EPS (Diluted) | 2.42 | 2.51 | 1.26 | 6.39 | 3.45 | 3.83 |
| Free Cash Flow | -888.78M | -13.54M | 1.60B | -1.10B | -990.23M | -411.99M |
| Free Cash Flow Per Share | -14.53 | -0.22 | 26.45 | -18.55 | -16.64 | -6.94 |
| Operating Margin | 7.13% | 9.68% | 3.73% | 34.15% | 34.16% | 59.75% |
| Profit Margin | 8.43% | 9.38% | 5.38% | 35.30% | 38.13% | 37.35% |
| Free Cash Flow Margin | -50.72% | -0.83% | 112.96% | -102.53% | -184.04% | -67.64% |
| Effective Tax Rate | 32.69% | 32.15% | 27.18% | 13.76% | 18.13% | 10.61% |
| Revenue as Reported | 2.40B | 2.19B | 2.00B | 1.65B | 799.14M | 689.79M |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.35B | 966.12M | 837.30M | 545.08M | 581.42M | 225.46M |
| Trading Asset Securities | 2.97B | 2.34B | 2.28B | 3.69B | 2.41B | 1.16B |
| Accounts Receivable | 3.96B | 4.64B | 3.30B | 1.64B | 365.96M | 143.04M |
| Other Receivables | 2.07B | 2.17B | 1.63B | 1.40B | 844.07M | 104.66M |
| Property, Plant & Equipment | 433.42M | 405.98M | 230.93M | 119.33M | 84.36M | 25.25M |
| Goodwill | 52.99M | 51.10M | 49.09M | 52.65M | 14.19M | 5.90M |
| Other Intangible Assets | 86.00M | 73.32M | 54.19M | 47.67M | 17.61M | 5.16M |
| Investments in Debt & Equity Securities | 1.21B | 1.00B | 539.45M | 216.62M | 239.05M | 161.36M |
| Restricted Cash | 1.47B | 1.25B | 807.47M | 462.64M | 445.53M | 547.95M |
| Other Current Assets | 108.44M | 56.59M | 29.25M | 12.92M | 830.52M | |
| Long-Term Deferred Tax Assets | 36.18M | 17.45M | 3.22M | 2.44M | 909.00K | |
| Other Long-Term Assets | 433.95M | 83.99M | 71.66M | 58.41M | 46.96M | 12.14M |
| Total Assets | 14.05B | 13.16B | 9.92B | 8.30B | 5.08B | 3.23B |
| Accounts Payable | 7.10B | 7.17B | 4.34B | 3.15B | 2.05B | 814.02M |
| Accrued Expenses | 429.00K | 54.23M | 41.65M | 28.63M | 11.01M | 4.09M |
| Short-Term Debt | 1.25B | 1.02B | 1.42B | 2.76B | 1.52B | 840.22M |
| Current Portion of Long-Term Debt | 590.24M | 278.13M | 10.90M | |||
| Current Portion of Leases | 20.84M | 21.05M | ||||
| Other Current Liabilities | 600.83M | 692.23M | 1.38B | 156.00K | 7.34M | 834.88M |
| Long-Term Debt | 880.45M | 1.08B | 483.51M | 276.72M | 60.03M | 37.93M |
| Long-Term Leases | 42.14M | 27.79M | 40.52M | 35.79M | 30.32M | 7.50M |
| Long-Term Unearned Revenue | 299.15M | 259.52M | 159.65M | 60.09M | 43.08M | 17.98M |
| Long-Term Deferred Tax Liabilities | 6.55M | 62.00K | 66.00K | 694.00K | ||
| Other Long-Term Liabilities | 1.66B | 1.00B | 785.66M | 792.82M | 587.61M | 112.56M |
| Total Liabilities | 12.51B | 11.67B | 8.69B | 7.13B | 4.31B | 2.68B |
| Common Stock | 61.00K | 61.00K | 61.00K | 60.00K | 59.00K | 59.00K |
| Additional Paid-In Capital | 338.12M | 314.66M | 246.61M | 183.79M | 164.16M | 174.75M |
| Retained Earnings | 1.26B | 1.23B | 1.08B | 998.74M | 647.06M | 441.92M |
| Comprehensive Income & Other | -66.07M | -56.94M | -100.40M | -18.94M | -34.00M | -63.12M |
| Total Common Equity | 1.54B | 1.49B | 1.22B | 1.16B | 777.28M | 553.60M |
| Minority Interest | 117.00K | 3.31M | -6.55M | -7.00M | ||
| Shareholders' Equity | 1.54B | 1.49B | 1.22B | 1.17B | 770.74M | 546.61M |
| Total Liabilities & Equity | 14.05B | 13.16B | 9.92B | 8.30B | 5.08B | 3.23B |
| Total Debt | 2.79B | 2.43B | 1.95B | 3.07B | 1.61B | 885.66M |
| Net Cash (Debt) | 1.54B | 873.56M | 1.16B | 1.16B | 1.39B | 498.19M |
| Net Cash Per Share | 25.14 | 14.29 | 19.16 | 19.62 | 23.30 | 8.39 |
| Filing Date Shares Outstanding | 63.79M | 61.29M | 61.21M | 60.63M | 59.66M | 59.54M |
| Total Common Shares Outstanding | 61.43M | 61.29M | 60.99M | 60.32M | 59.66M | 59.54M |
| Working Capital | 2.21B | 2.21B | 1.69B | 1.81B | 1.07B | 502.24M |
| Book Value Per Share | 24.99 | 24.30 | 20.07 | 19.29 | 13.03 | 9.30 |
| Tangible Book Value | 1.40B | 1.36B | 1.12B | 1.06B | 745.48M | 542.54M |
| Tangible Book Value Per Share | 22.73 | 22.27 | 18.38 | 17.63 | 12.50 | 9.11 |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 147.63M | 153.33M | 76.29M | 379.11M | 205.14M | 227.49M |
| Depreciation & Amortization, Total | 38.33M | 34.56M | 17.16M | 14.60M | 5.14M | 3.42M |
| Gain (Loss) On Sale of Investments | -15.88M | 1.25M | 123.21M | -99.98M | -110.24M | 53.21M |
| Stock-Based Compensation | 68.23M | 68.05M | 59.59M | 22.72M | 9.29M | 7.86M |
| Change in Accounts Receivable | -907.20M | -1.20B | -1.74B | -1.27B | -253.30M | -103.76M |
| Change in Accounts Payable | 510.94M | 867.20M | 1.99B | 846.86M | 269.70M | 2.90M |
| Change in Other Net Operating Assets | -29.93M | -137.78M | -249.09M | -51.48M | -50.45M | -5.75M |
| Other Operating Activities | 152.77M | 183.96M | 315.65M | 45.37M | -11.22M | 117.84M |
| Operating Cash Flow | -637.23M | 185.22M | 1.68B | -1.06B | -951.68M | -406.37M |
| Capital Expenditures | -251.55M | -198.77M | -80.90M | -36.73M | -38.54M | -5.62M |
| Cash Acquisitions | -23.27M | -23.24M | -22.49M | -53.76M | -61.97M | |
| Sale (Purchase) of Intangibles | -34.74M | -23.38M | -14.43M | -7.02M | ||
| Investment in Securities | -325.08M | -393.98M | -353.35M | 30.42M | -69.46M | -49.94M |
| Other Investing Activities | -629.74M | -4.38M | ||||
| Investing Cash Flow | -819.00M | -1.05B | -905.47M | -638.22M | -1.46B | -146.32M |
| Short-Term Debt Issued | 1.19B | 637.39M | 427.62M | |||
| Long-Term Debt Issued | 848.04M | 204.14M | 208.86M | 45.95M | 13.20M | |
| Total Debt Issued | 1.06B | 848.04M | 204.14M | 1.40B | 683.34M | 440.82M |
| Short-Term Debt Repaid | -431.54M | -1.06B | ||||
| Long-Term Debt Repaid | -28.25M | -9.99M | ||||
| Total Debt Repaid | -129.23M | -431.54M | -1.06B | -28.25M | -9.99M | |
| Net Debt Issued (Repaid) | 930.24M | 416.50M | -857.29M | 1.40B | 655.08M | 430.83M |
| Issuance of Common Stock | 300.00M | 677.00K | 119.00K | |||
| Other Financing Activities | 1.05B | 775.13M | 855.71M | 274.49M | 1.48B | 187.58M |
| Financing Cash Flow | 2.28B | 1.19B | -1.58M | 1.67B | 2.13B | 618.53M |
| Foreign Exchange Rate Adjustments | 327.55M | 241.14M | -137.04M | 12.19M | 78.19M | -54.42M |
| Net Cash Flow | 1.16B | 567.66M | 637.05M | -19.22M | -203.35M | 11.42M |
| Free Cash Flow | -888.78M | -13.54M | 1.60B | -1.10B | -990.23M | -411.99M |
| Free Cash Flow Margin | -50.72% | -0.83% | 112.96% | -102.53% | -184.04% | -67.64% |
| Free Cash Flow Per Share | -14.53 | -0.22 | 26.45 | -18.55 | -16.64 | -6.94 |
| Cash Interest Paid | 505.72M | 452.98M | 511.95M | 474.66M | 199.37M | 37.85M |
| Cash Income Tax Paid | 84.14M | 81.30M | 53.92M | 30.32M | 53.18M | 44.47M |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 11.93B | 8.87B | 8.01B | 4.21B | 4.28B | 3.55B |
| Last Close Price | 187.00 | 144.88 | 132.17 | 70.57 | 71.86 | 59.60 |
| PE Ratio | 77.28 | 57.82 | 105.03 | 11.11 | 20.86 | 15.60 |
| PS Ratio | 6.81 | 5.42 | 5.66 | 3.92 | 7.95 | 5.83 |
| PB Ratio | 7.48 | 5.95 | 6.54 | 3.61 | 5.55 | 6.49 |
| P/FCF Ratio | 5.01 | |||||
| P/OCF Ratio | 47.86 | 4.77 | ||||
| Debt / Equity Ratio | 1.82 | 1.63 | 1.59 | 2.63 | 2.09 | 1.62 |
| Debt / FCF Ratio | 1.22 | |||||
| Net Debt / Equity Ratio | -1.00 | -0.59 | -0.95 | -1.00 | -1.80 | -0.91 |
| Net Debt / FCF Ratio | 1.73 | 64.49 | -0.72 | 1.06 | 1.40 | 1.21 |
| Asset Turnover | 0.15 | 0.14 | 0.16 | 0.16 | 0.13 | 0.23 |
| Quick Ratio | 1.08 | 1.09 | 1.11 | 1.22 | 1.17 | 0.65 |
| Current Ratio | 1.23 | 1.24 | 1.23 | 1.30 | 1.30 | 1.20 |
| Return on Equity (ROE) | 10.68% | 11.30% | 6.37% | 39.07% | 29.33% | 79.08% |
| Return on Assets (ROA) | 1.24% | 1.33% | 0.84% | 5.66% | 4.65% | 12.20% |
| Return on Invested Capital (ROIC) | 2.04% | 3.03% | 1.04% | 9.56% | 7.90% | 30.66% |
| Earnings Yield | 1.29% | 1.73% | 0.95% | 9.01% | 4.79% | 6.41% |
| FCF Yield | -7.45% | -0.15% | 19.97% | -26.15% | -23.14% | -11.61% |
| Buyback Yield / Dilution | -0.79% | -1.04% | -1.90% | 0.24% | -0.21% | -1.60% |