FRHC
Freedom Holding Corp.
Next earnings Aug 6, 2026
$128.82
▼ -0.19%$128.82▼ -8.99%
over 1Y
L $112.03EODHDH $190.14
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-0.2%
1W-9.4%
1M-9.4%
3M-8.8%
YTD+3.7%
1Y-9.0%
Hold
Conviction
Horizon
Medium (3–12mo)
Fast-growing Kazakh fintech conglomerate, but volatile earnings, 57x P/E, related-party deals and a sanctioned CEO make it unknowable.
Revenue $2.19B · FY2026
The read
Middling fundamentals and a rich price (~27% above fair value) leave little margin of safety — a wait-and-see.
Freedom Holding has grown explosively — revenue rose from $690M (FY2022) to $2.19B (FY2026, up 9.3%), and total assets jumped 32.7% to $13.2B as it built a Kazakhstan-centered ecosystem spanning brokerage, banking (Freedom Bank KZ), insurance, payments, and now telecom/media and even AI data-center/GPU infrastructure. FY2026 net income doubled to $153M and EPS to $2.51, with a 10.3% ROE. The growth and ambition are real, and the company has a genuine franchise democratizing market access across Central Asia and Europe.
Financials · annual, by fiscal year
| Line item | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | $690M | $799M | $1.65B | $2.00B | $2.19B |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $227M | $205M | $379M | $76.3M | $153M |
| Diluted EPS | $3.84 | $3.45 | $6.39 | $1.26 | $2.51 |
| Net margin | 33.0% | 25.7% | 23.0% | 3.8% | 7.0% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$6.93B
EV / EBITDA268.7
EV / Sales3.2
EV / FCF—
P / FCF—
PEG (trailing)0.51
Earnings yield1.9%
FCF yield-0.2%
Quality & risk
ROIC (est.)-0.0%
Free cash flow-$13.5M
Total debt—
Net cash$966M
Altman Z-Score0.70 distress
Piotroski F-Score4/7
Capital returns
Buyback yield—
Dividend yield (est.)-0.7%
Shareholder yield-0.7%
Shares Δ YoY+0.1%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRoutine disclosure cadence — no material red flags in recent filings.
Recent filings
all on EDGAR ↗4Period ending 2026-06-222026-06-24open ↗4Period ending 2026-06-222026-06-24open ↗144Filing2026-06-22open ↗4Period ending 2026-06-112026-06-15open ↗4Period ending 2026-06-112026-06-15open ↗4Period ending 2026-06-112026-06-15open ↗8-KPeriod ending 2026-06-122026-06-12open ↗144Filing2026-06-11open ↗4Period ending 2026-06-042026-06-08open ↗144Filing2026-06-05open ↗10-KPeriod ending 2026-03-312026-06-01open ↗4Period ending 2026-05-292026-06-01open ↗
Frequently asked
- Is Freedom Holding Corp. (FRHC) a buy?
- FRHC currently carries a Hold rating with 2/5 conviction, derived from its latest SEC filings. Fast-growing Kazakh fintech conglomerate, but volatile earnings, 57x P/E, related-party deals and a sanctioned CEO make it unknowable.
- What is FRHC's fair value?
- A Modified-Graham model based on FRHC's SEC fundamentals estimates a fair value of about $93.75. It is an estimate from reported earnings, not a price target.
- Is FRHC overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, FRHC currently appears overvalued relative to its SEC-grounded earnings power.
- What is Freedom Holding Corp.'s quality score?
- FRHC scores 59.862745098039206/100 (grade C) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000924805, latest 10-K filed 2026-06-01) · EODHD · analysis by claude-code · as of 6/21/2026, 8:50:06 PM.
Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.