Sunday 11 October 2026
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Freedom Holding Corp.
FRHC Financial Financial Conglomerates
Freedom Holding Corp.’s revenue for fiscal 2026 (year ended March 2026) was $2.2 billion, up 9.34% from fiscal 2025. In the quarter to June 2026, revenue grew 39.8%, EPS grew 1.96%, free cash flow fell 197.0% and total debt rose 115.7%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.
169.65
2.95
+1.77%
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| Mar '17 | Mar '18 | Mar '19 | Mar '20 | Mar '21 | Mar '22 | Mar '23 | Mar '24 | Mar '25 | Mar '26 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
— | — | 4 | 5 | 6 | 3 | 3 | 4 | 4 | 5 |
P/E ratio |
0.55 | 4.89 | 80.00 | 37.37 | 21.78 | 16.71 | 18.88 | 11.01 | 92.43 | 59.28 |
P/S ratio |
0.18 | 3.94 | 6.88 | 9.90 | 8.98 | 5.13 | 5.27 | 2.51 | 3.92 | 3.97 |
P/FCF ratio |
0.74 | 0.00 | 9.50 | 10.24 | 5.90 | 0.00 | 0.00 | 0.00 | 4.97 | 0.00 |
P/Operating CF |
0.31 | (8.46) | 40.55 | 59.09 | (18.37) | 17.22 | (8.67) | 13.36 | 5.87 | (5.61) |
P/B ratio |
0.08 | 1.79 | 4.34 | 6.40 | 11.30 | 6.47 | 5.47 | 3.54 | 6.41 | 5.84 |
Price to Tangible BV |
0.08 | 1.93 | 4.62 | 6.71 | 11.77 | 6.61 | 5.70 | 3.87 | 7.00 | 6.37 |
EV/Sales |
1.44 | 1.61 | 4.85 | 7.43 | 5.49 | 3.84 | 3.80 | (0.29) | 1.95 | 2.03 |
EV/EBITDA |
2.85 | 2.64 | 14.30 | 15.34 | 10.77 | 5.84 | 6.63 | 0.00 | 4.50 | 5.07 |
EV/Operating CF |
5.80 | (0.80) | 6.17 | 7.50 | 3.60 | (6.51) | (3.19) | 0.45 | 2.32 | 24.01 |
EV/FCF |
5.89 | (0.79) | 6.70 | 7.69 | 3.61 | (6.42) | (3.07) | 0.44 | 2.47 | (70.81) |
Quick Ratio |
5.64 | 5.65 | 2.19 | 1.40 | 1.16 | 1.27 | 1.28 | 1.22 | 1.17 | 1.14 |
Current Ratio |
5.64 | 5.65 | 2.19 | 1.40 | 1.16 | 1.27 | 1.28 | 1.22 | 1.17 | 1.14 |
Net Debt/EBITDA |
2.49 | (3.82) | (5.96) | (5.10) | (6.84) | (1.97) | (2.56) | (4.59) | (4.55) | (4.84) |
Debt/Assets |
49.23% | 47.31% | 30.25% | 19.11% | 1.72% | 1.30% | 1.78% | 3.65% | 5.14% | 9.96% |
Debt/Equity |
1.36 | 1.31 | 0.90 | 0.67 | 0.13 | 0.08 | 0.12 | 0.26 | 0.42 | 0.88 |
Asset Turnover |
0.30 | 0.24 | 0.21 | 0.21 | 0.27 | 0.26 | 0.19 | 0.25 | 0.22 | 0.19 |
Operating CF/Net income |
0.76 | (6.44) | 8.18 | 3.33 | 3.54 | (1.79) | (4.64) | (2.81) | 22.04 | 1.21 |
Capex/Depreciation |
(0.37) | (0.89) | (2.32) | (1.81) | (0.56) | (0.49) | (2.84) | (0.68) | (0.42) | (1.37) |
Interest Coverage |
2.52 | 2.29 | 1.58 | 3.85 | 7.76 | 5.73 | 2.13 | 1.88 | 1.20 | 1.46 |
| 28.58% | 21.29% | 5.84% | 20.14% | 73.95% | 55.33% | 31.14% | 39.13% | 6.38% | 11.30% | |
| 9.67% | 7.71% | 2.04% | 6.18% | 11.72% | 8.54% | 4.93% | 5.66% | 0.84% | 1.33% | |
ROIC |
5.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Return on Tangible Assets |
6.43% | 6.56% | 3.83% | 19.94% | 76.77% | 44.15% | 18.27% | 24.58% | 4.93% | 8.05% |
Average Days of Receivables |
1,544.95 | 212.58 | 375.20 | 543.38 | 62.23 | 740.00 | 1,651.18 | 674.05 | 895.05 | 1,127.40 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
1.78% | 3.96% | 8.40% | 23.28% | 26.86% | 20.57% | 20.77% | 22.52% | 36.03% | 30.05% |
Intangible Assets out of Total Assets |
0.01 | 0.03 | 0.02 | 0.01 | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 |
Share Based Compensation of Revenue |
0.00% | 2.81% | 4.71% | 1.77% | 0.18% | 1.14% | 1.16% | 1.38% | 2.97% | 3.11% |
Graham Net Nets |
11.49 | 0.48 | 0.19 | 0.11 | (0.17) | (0.10) | 0.13 | 0.20 | 0.09 | 0.08 |
Graham Number |
7.03 | 10.97 | 2.24 | 4.36 | 16.13 | 27.18 | 33.56 | 53.22 | 25.76 | 36.95 |
Earnings Yield |
181.13% | 20.44% | 1.25% | 2.68% | 4.59% | 5.99% | 5.30% | 9.09% | 1.08% | 1.69% |
Free Cash Flow Yield |
136.01% | (52.03%) | 10.53% | 9.76% | 16.94% | (11.66%) | (23.51%) | (26.86%) | 20.11% | (0.72%) |
Revenue per Share |
1.73 | 1.74 | 1.28 | 1.43 | 5.94 | 11.62 | 13.63 | 27.94 | 33.74 | 36.53 |
Operating CF per Share |
0.43 | (3.52) | 1.01 | 1.42 | 9.07 | (6.84) | (16.23) | (18.05) | 28.30 | 3.09 |
Capex per Share |
(0.01) | (0.04) | (0.08) | (0.03) | (0.03) | (0.10) | (0.66) | (0.74) | (1.60) | (3.70) |
Free Cash Flow per Share |
0.42 | (3.56) | 0.93 | 1.39 | 9.04 | (6.94) | (16.89) | (18.79) | 26.70 | (0.62) |
Cash per Share |
3.15 | 9.04 | 4.42 | 5.03 | 21.34 | 15.74 | 21.59 | 83.33 | 75.08 | 92.60 |
Shareholders Equity per Share |
3.91 | 3.82 | 2.03 | 2.22 | 4.72 | 9.21 | 13.15 | 19.79 | 20.62 | 24.82 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
3.91 | 3.82 | 2.03 | 2.22 | 4.72 | 9.21 | 13.15 | 19.79 | 20.62 | 24.82 |
Free Cash Flow |
4.73 | (118.49) | 53.75 | 80.63 | 527.89 | (412.26) | (990.22) | (1,108.11) | 1,585.73 | (36.92) |
Working Capital |
96.61 | 274.98 | 180.93 | 118.20 | 179.36 | 497.43 | 1,068.50 | 1,459.22 | 1,357.50 | 1,546.10 |
Capital Expenditures |
(0.07) | (1.32) | (4.72) | (1.99) | (1.50) | (5.89) | (38.54) | (43.75) | (95.33) | (222.14) |
Net Current Asset Value |
39.95 | 110.30 | 99.42 | 92.45 | (519.25) | (350.48) | 567.32 | 819.98 | 683.53 | 657.42 |
EV/EBIT |
2.91 | 2.76 | 15.55 | 15.78 | 10.94 | 6.01 | 6.83 | 0.00 | 6.09 | 6.22 |
Capex to Sales |
0.00 | 0.02 | 0.06 | 0.02 | 0.00 | 0.01 | 0.05 | 0.03 | 0.05 | 0.10 |
Price to Operating Income |
0.60 | 11.97 | 59.87 | 28.39 | 20.52 | 9.73 | 17.86 | 9.40 | 75.06 | 38.46 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.18 | 0.62 | 0.37 | 0.17 | 0.17 | 0.68 | 0.25 | 0.77 | 1.19 | 0.45 |
Cash ROIC |
3.40% | (19.96%) | 11.20% | 15.86% | 33.88% | (27.06%) | (46.55%) | (17.36%) | 25.60% | (0.44%) |
Accounts Receivable Turnover |
0.47 | 1.00 | 1.35 | 0.83 | 3.79 | 0.95 | 0.32 | 0.49 | 0.50 | 0.38 |
Accounts Payable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.04 | 0.03 | 0.08 |
Inventory Turnover |
— | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 18,062.28 | 15,429.95 | 3,161.03 |
Days of Inventory on Hand |
— | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 |
Average Receivables |
41.03 | 57.85 | 55.00 | 100.25 | 91.65 | 728.81 | 2,506.81 | 3,328.57 | 3,978.29 | 5,841.48 |
Average Payables |
0.30 | 4.78 | 20.85 | 20.55 | 15.20 | 33.54 | 83.99 | 495.39 | 1,095.06 | 1,005.94 |
Average Assets |
65.03 | 236.13 | 350.91 | 402.22 | 1,276.92 | 2,665.33 | 4,157.45 | 6,693.24 | 9,108.52 | 11,535.18 |
Average Common Equity |
22.00 | 85.46 | 122.31 | 123.32 | 202.35 | 411.14 | 658.67 | 968.85 | 1,195.76 | 1,356.92 |
Columns are period end dates