Freedom Holding (FRHC) AI Stock Analysis

• Market Cap: $9.94B
• Dividend Yield: N/A
• Average Volume (3M): 118.35K
• Price to Earnings (P/E): 120.4
• Beta (1Y): 0.89
• Revenue Growth: 19.14%
• EPS Growth: -75.48%
• Country: US
• Employees: 7,761
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 0.50
• Shares Outstanding: 61,221,687
• 10 Day Avg. Volume: 138,323
• 30 Day Avg. Volume: 118,350
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.92
• Enterprise Value/Revenue: 4.43
• Enterprise Value/Gross Profit: 9.06
• Enterprise Value/Ebitda: 14.33
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 48 Neutral
• Price Target: $161.00 ▲(4.78% Upside)

The overall stock score is primarily influenced by weak financial performance and technical analysis. The company's moderate revenue growth is overshadowed by declining profitability and cash flow challenges. Technical indicators suggest a bearish trend, and the high P/E ratio indicates overvaluation. The absence of earnings call data and corporate events further limits positive influences on the score.

Freedom Holding Business Overview & Revenue Model

Company Description

Freedom Holding Corporation (FRHC) is a diversified financial services company based in the United States, with a strong presence in the capital markets of Kazakhstan and other Central Asian countries. The company operates primarily in the brokerage and investment banking sectors, providing a range of services including retail and institutional brokerage, asset management, and financial advisory. Additionally, Freedom Holding is involved in proprietary trading and offers online trading platforms to facilitate trading in various financial instruments.

How the Company Makes Money

Freedom Holding generates revenue through multiple key streams. Its primary source of income comes from brokerage commissions and fees associated with executing trades for individual and institutional clients. The company also earns revenue through the management of investment funds and asset management services, charging management fees based on the assets under management. Proprietary trading activities contribute to its earnings by profiting from market movements. Furthermore, the company has established strategic partnerships that enhance its market reach, including collaborations with financial institutions and technology providers that improve its trading platforms and services, thereby attracting more clients and increasing transaction volumes.

Freedom Holding Financial Statement Overview

Summary

Freedom Holding is experiencing moderate revenue growth but faces challenges in maintaining profitability and cash flow stability. While leverage has improved, profitability metrics such as ROE have declined. The company needs to focus on enhancing operational efficiency and cash flow management to strengthen its financial position.

Income Statement

Freedom Holding shows moderate revenue growth with a TTM increase of 4.34%. However, margins have declined compared to previous years, with the TTM gross profit margin at 51.05% and net profit margin at 4.30%. The EBIT and EBITDA margins are stable but lower than historical levels, indicating some pressure on profitability.

Balance Sheet

The company's debt-to-equity ratio has improved to 1.61 from higher levels, showing better leverage management. However, the return on equity has decreased to 6.93% in the TTM, reflecting reduced profitability. The equity ratio remains stable, indicating a balanced asset structure.

Cash Flow

Cash flow performance is mixed, with a significant decline in free cash flow growth at -23.95% in the TTM. The operating cash flow to net income ratio is low at 0.23, suggesting potential cash flow challenges. However, the free cash flow to net income ratio remains strong at 95.72%, indicating efficient cash conversion.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.05B	2.03B	1.66B	795.69M	689.79M	346.88M
Gross Profit	1.00B	1.07B	1.16B	570.88M	503.15M	200.51M
EBITDA	634.57M	666.00M	951.09M	450.02M	444.06M	176.94M
Net Income	80.65M	84.65M	375.54M	205.14M	227.49M	149.65M
Balance Sheet
Total Assets	9.69B	9.91B	8.30B	5.08B	2.92B	2.02B
Cash, Cash Equivalents and Short-Term Investments	2.71B	3.59B	4.45B	3.23B	1.83B	1.44B
Total Debt	1.78B	1.95B	3.07B	1.61B	893.06M	511.78M
Total Liabilities	8.46B	8.70B	7.13B	4.31B	2.41B	1.74B
Stockholders Equity	1.23B	1.21B	1.16B	777.28M	514.67M	277.31M
Cash Flow
Free Cash Flow	1.21B	1.59B	-1.11B	-990.23M	-357.02M	561.14M
Operating Cash Flow	1.31B	1.68B	-1.06B	-951.68M	-347.99M	565.30M
Investing Cash Flow	-1.32B	-905.47M	-638.22M	-1.46B	-8.70M	97.04M
Financing Cash Flow	-123.73M	-1.58M	1.67B	2.13B	453.68M	348.41M

Freedom Holding Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 153.65
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FRHC, the sentiment is Negative. The current price of 153.65 is below the 20-day moving average (MA) of 167.41, below the 50-day MA of 169.04, and above the 200-day MA of 153.58, indicating a neutral trend. The MACD of -3.05 indicates Positive momentum. The RSI at 34.12 is Neutral, neither overbought nor oversold. The STOCH value of 5.65 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FRHC.

Freedom Holding Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EVR	76 Outperform	$12.36B	29.12	29.16%	1.03%	23.24%	55.76%
HLI	71 Outperform	$13.57B	32.54	20.38%	1.21%	23.39%	29.86%
SF	69 Neutral	$11.48B	19.83	―	1.54%	7.53%	2.73%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
XP	63 Neutral	$8.97B	10.57	22.42%	3.88%	-6.77%	2.95%
JEF	54 Neutral	$11.36B	18.97	6.29%	2.82%	-5.41%	25.28%
FRHC	48 Neutral	$9.94B	120.42	6.78%	―	19.14%	-75.48%

Freedom Holding Corporate Events

Freedom Holding Elects Directors and Approves Compensation

On September 29, 2025, Freedom Holding Corp. held its annual meeting of stockholders where key decisions were made regarding the company’s leadership and financial oversight. Stockholders elected Timur Turlov and Philippe Vogeleer as Class III directors until 2028, approved the compensation of named executive officers, and ratified the appointment of Deloitte LLP in Kazakhstan as the independent registered public accounting firm for the 2026 fiscal year.

The most recent analyst rating on (FRHC) stock is a Hold with a $179.00 price target. To see the full list of analyst forecasts on Freedom Holding stock, see the FRHC Stock Forecast page.

Freedom Holding Corp. Reports Mixed Q2 2025 Results

Freedom Holding Corp. is a diversified financial services company offering securities brokerage, banking, insurance, and lifestyle services across multiple regions, including the United States, Europe, and Central Asia. The company is listed on the Nasdaq Capital Market and other exchanges, providing a broad range of financial products and services.