Freedom Holding (FRHC) AI Stock Analysis

• Market Cap: $9.23B
• Dividend Yield: N/A
• Average Volume (3M): 105.38K
• Price to Earnings (P/E): 23.9
• Beta (1Y): 0.90
• Revenue Growth: 7.40%
• EPS Growth: -97.69%
• Country: US
• Employees: 7,761
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 1.25
• Shares Outstanding: 61,190,536
• 10 Day Avg. Volume: 115,565
• 30 Day Avg. Volume: 105,381
• PEG Ratio: -1.20
• Price to Book (P/B): 6.46
• Price to Sales (P/S): 3.86
• P/FCF Ratio: 4.95
• Enterprise Value/Market Cap: 1.14
• Enterprise Value/Revenue: 4.98
• Enterprise Value/Gross Profit: 10.01
• Enterprise Value/Ebitda: 19.42
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: $168.00 ▲(23.61% Upside)
• Action: Reiterated Date: 04/10/26
• Date: Action: Reiterated 04/10/26

The score is driven primarily by strong top-line growth and the recent surge in operating/free cash flow, but is held back by sharply weaker recent profitability (near-breakeven TTM), compressed ROE, and KPI-flagged concentration/segment volatility. Technically the trend is strong, though overbought signals temper upside, while valuation is mid-range and the contemplated share offering adds some uncertainty.

Positive Factors

Multi-year revenue scale-up

Sustained, large top-line growth provides a durable base for cross-selling brokerage, banking and capital-markets services. Scale supports fixed-cost absorption, enhances market presence and creates lasting revenue optionality as the firm builds client relationships across geographies and products.

Negative Factors

Collapsed profitability / ROE

A severe drop in ROE and net margin undermines the firm's ability to convert revenue growth into sustainable shareholder returns. Persistently low profitability reduces reinvestment capacity, heightens sensitivity to adverse shocks, and weakens long-term capital allocation economics.

Freedom Holding Business Overview & Revenue Model

Company Description

Freedom Holding Corp., through its subsidiaries, provides retail securities brokerage, research, investment counseling, securities trading, market making, retail banking, corporate investment banking, and underwriting services. The company offers ...

Read more

Freedom Holding Corp., through its subsidiaries, provides retail securities brokerage, research, investment counseling, securities trading, market making, retail banking, corporate investment banking, and underwriting services. The company offers ...

How the Company Makes Money

Freedom Holding makes money primarily through a mix of transaction-based and spread/interest-based financial services revenues across its brokerage, capital markets, banking, and insurance-related operations. Key revenue streams typically include:...

Read more

Freedom Holding makes money primarily through a mix of transaction-based and spread/interest-based financial services revenues across its brokerage, capital markets, banking, and insurance-related operations. Key revenue streams typically include:...

Freedom Holding Financial Statement Overview

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	2.12B	2.03B	1.66B	795.69M	689.79M	346.88M
Gross Profit	1.05B	1.07B	1.16B	570.88M	503.15M	200.51M
EBITDA	542.59M	666.00M	951.09M	450.02M	444.06M	176.94M
Net Income	2.66M	84.65M	375.54M	205.14M	227.49M	149.65M
Balance Sheet
Total Assets	12.38B	9.91B	8.30B	5.08B	3.23B	2.10B
Cash, Cash Equivalents and Short-Term Investments	3.14B	3.59B	4.45B	3.23B	1.55B	755.56M
Total Debt	2.17B	1.95B	3.07B	1.61B	885.66M	414.25M
Total Liabilities	10.98B	8.70B	7.13B	4.31B	2.68B	1.82B
Stockholders Equity	1.39B	1.21B	1.16B	777.28M	553.60M	277.31M
Cash Flow
Free Cash Flow	2.85B	1.59B	-1.11B	-990.23M	-411.99M	527.88M
Operating Cash Flow	3.07B	1.68B	-1.06B	-951.68M	-406.37M	529.40M
Investing Cash Flow	-1.19B	-905.47M	-638.22M	-1.46B	-146.32M	6.35M
Financing Cash Flow	168.65M	-1.58M	1.67B	2.13B	618.53M	492.52M

Freedom Holding Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 135.91
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FRHC, the sentiment is Positive. The current price of 135.91 is below the 20-day moving average (MA) of 144.27, above the 50-day MA of 131.33, and below the 200-day MA of 147.68, indicating a bullish trend. The MACD of 6.14 indicates Negative momentum. The RSI at 64.24 is Neutral, neither overbought nor oversold. The STOCH value of 75.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FRHC.

Freedom Holding Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EVR	70 Outperform	$13.38B	25.51	33.81%	0.95%	27.00%	63.47%
SF	70 Outperform	$11.96B	12.55	11.96%	1.43%	7.54%	2.73%
XP	69 Neutral	$10.53B	9.33	22.53%	1.10%	-3.47%	7.48%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
FRHC	64 Neutral	$9.23B	23.92	0.21%	―	7.40%	-97.69%
HLI	64 Neutral	$10.57B	24.90	20.14%	1.33%	20.99%	25.02%
JEF	49 Neutral	$9.35B	16.65	6.77%	2.52%	-5.41%	25.28%

Freedom Holding Corporate Events