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Freedom Holding (FRHC) AI Stock Analysis
Freedom Holding
(NASDAQ:FRHC)
The score is primarily constrained by weak and volatile cash generation, slowing growth, margin compression, and a high P/E ratio. Strong profitability at the operating level, balance-sheet expansion, positive technical momentum, and potentially strategic financing provide support, but they do not fully offset the financial-quality and valuation risks.
Freedom Holding Key Performance Indicators (KPIs)
Net Revenue by GeographyBreaks down where Freedom Holding earns its revenue across countries and regions, showing geographic strengths and vulnerabilities. Heavy dependence on one market exposes the company to local economic downturns, currency moves, or regulatory shifts, while a more balanced footprint supports steadier growth.
Kazakhstan overwhelmingly drives revenue, creating acute country-concentration risk: its seasonal swings produce most of the top-line movement. The US series is highly erratic and turns materially negative in the latest quarter, which likely reflects trading/FX or one-off adjustments and introduces headline volatility outside the core market. Cyprus shows clear acceleration into 2026, while Armenia and Other are smaller, more cyclical contributors. Overall, growth is concentrated and volatile—watch Kazakhstan exposure and the unexplained US downturn for near-term earnings risk.
The FlyFreedom Holding (FRHC) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $11.93B
- Dividend Yield
- ―
- Average Volume (3M)
- 104.64K
- Price to Earnings (P/E)
- 72.8
- Beta (1Y)
- 0.95
- Revenue Growth
- 8.18%
- EPS Growth
- 81.30%
- Country
- US
- Employees
- 12,100
- Sector
- Financial
- Sector Strength
- 68
- Industry
- Financial - Conglomerates
Freedom Holding Business Overview & Revenue Model
Company Description
Freedom Holding Corp. operates as a diverse financial services organization, offering a broad spectrum of services through its network of subsidiaries. The company specializes in retail and corporate financial solutions, encompassing brokerage, inves...
How the Company Makes Money
Freedom Holding generally earns revenue through a mix of brokerage, trading, and capital markets activities conducted by its operating subsidiaries. Key revenue streams typically include: (1) Brokerage and client trading-related revenue: commissions...
Freedom Holding Financial Statement Overview
Summary
Profitability and asset growth are solid, but slowing revenue, compressed net margins, elevated leverage, lower ROE, and deeply negative recent operating and free cash flow materially weaken the financial profile.
Income Statement
72PositiveBalance Sheet
66PositiveCash Flow
32Negative| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.33B | 2.19B | 2.03B | 1.66B | 795.69M | 689.79M |
| Gross Profit | 1.36B | 1.58B | 1.07B | 1.16B | 570.88M | 503.15M |
| EBITDA | 817.80M | 749.56M | 666.00M | 951.09M | 450.02M | 444.06M |
| Net Income | 154.59M | 153.33M | 84.65M | 375.54M | 205.14M | 227.49M |
Balance Sheet | ||||||
| Total Assets | 14.05B | 13.16B | 9.91B | 8.30B | 5.08B | 3.23B |
| Cash, Cash Equivalents and Short-Term Investments | 5.53B | 4.31B | 3.59B | 4.45B | 3.23B | 1.55B |
| Total Debt | 2.79B | 2.33B | 1.95B | 3.07B | 1.61B | 885.66M |
| Total Liabilities | 12.51B | 11.67B | 8.70B | 7.13B | 4.31B | 2.68B |
| Stockholders Equity | 1.54B | 1.49B | 1.21B | 1.16B | 777.28M | 553.60M |
Cash Flow | ||||||
| Free Cash Flow | -815.21M | -38.16M | 1.59B | -1.11B | -990.23M | -411.99M |
| Operating Cash Flow | -568.09M | 160.61M | 1.68B | -1.06B | -951.68M | -406.37M |
| Investing Cash Flow | -888.14M | -1.02B | -905.47M | -638.22M | -1.46B | -146.32M |
| Financing Cash Flow | 2.28B | 1.19B | -1.58M | 1.67B | 2.13B | 618.53M |
Freedom Holding Technical Analysis
Price Trends
Market Momentum
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 187.00 is above the 20-day moving average (MA) of 174.50, above the 50-day MA of 170.92, and above the 200-day MA of 148.82, indicating a bullish trend. The MACD of 2.95 indicates Negative momentum. The RSI at 65.38 is Neutral, neither overbought nor oversold. The STOCH value of 79.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FRHC.
Freedom Holding Risk Analysis
Freedom Holding disclosed 64 risk factors in its most recent earnings report. Freedom Holding reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
1 New RiskFreedom Holding Peers Comparison
Overall Rating
MSDL65Neutral
RILY62Neutral- FRHC60Neutral
HTH57Neutral
ENHA39Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 68Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
| MSDL | 65Neutral | $1.17B | 20.18 | 3.48% | 13.34% | -14.75% | -64.13% |
| RILY | 62Neutral | $163.21M | 0.30 | -775.03% | ― | 49.44% | ― |
| FRHC | 60Neutral | $11.93B | 72.76 | 10.96% | ― | 8.18% | 81.30% |
| HTH | 57Neutral | $2.11B | 15.47 | 6.60% | 2.16% | -2.45% | -4.29% |
| ENHA | 39Underperform | $373.10M | -1.46 | -398.43% | ― | ― | -9540.00% |
* Financial Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| FRHC | Freedom Holding Corp | 187.00 | 37.67 | 25.23% | |
| HTH | Hilltop | 37.12 | 5.08 | 15.85% | |
| RILY | B. Riley Financial | 4.06 | -0.71 | -14.88% | |
| MSDL | Morgan Stanley Direct Lending Fund | 13.87 | -1.23 | -8.12% | |
| ENHA | Enhanced Group Inc. | 9.43 | -90.27 | -90.54% | |
| YICC | Yorkville International Capital Corp. | 9.88 | -0.05 | -0.50% |
Freedom Holding Corporate Events
Freedom Holding Announces Major Private Bond Financing Agreement
PositiveOn October 23, 2026, Freedom Holding Corp. and its AIFC subsidiary FRHC-IF.SPC Ltd. entered into an investment agreement with Kokzhiyek Fund LP for a private placement of up to $1.16 billion in five‑year, 7.8% U.S. dollar bonds to be listed on...
Freedom Holding Shareholders Approve Directors and Governance Matters
PositiveOn September 16, 2026, Freedom Holding Corp. stockholders convened for the 2026 annual meeting, with 63,803,116 common shares eligible to vote as of the July 20, 2026 record date. Shareholders elected Askar Tashtitov and Boris Cherdabayev as Class I...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 29, 2026