Financial Services · Financial - Capital Markets
Price
$157.11
Market Cap
$9.6B
Employees
7,761
Beta
0.67
Avg Volume
136,339
CEO
Timur Ruslanovich Turlov
Business 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, investment analysis, advisory services, securities trading, and market making. It also extends into retail banking, corporate investment banking, and underwriting. For individual and institutional investors, the firm provides access to an extensive range of financial instruments, including equities and debt securities traded on exchanges and over-the-counter, money market products, exchange-traded options and futures, government bonds, and mutual funds. Complementing these offerings, it facilitates margin lending secured by client assets, delivers educational courses for investors, and conducts detailed investment research. The company's commercial banking operations furnish essential services such as payment cards, digital mortgage processing, and digital auto loans. Furthermore, it makes various insurance products accessible to its clientele. In the realm of corporate finance, Freedom Holding Corp. assists businesses in capital raising through initial public offerings (IPOs) and subsequent share offerings. It also crafts and distributes debt capital market solutions, supporting diverse corporate needs like acquisitions, leveraged buyouts, funding for growth, and financial restructuring. Beyond client-focused services, the company actively participates in proprietary trading and investment activities. This includes engaging in repurchase and reverse repurchase agreements, managing short positions, and settling other securities-related obligations to address customer requirements and finance its own asset holdings. Operational efficiency is enhanced by its proprietary Tradernet software platform, which plays a crucial role in assessing client margin risk and managing middle office security transfers. Headquartered in Almaty, Kazakhstan, and established in 1981, the company maintains a significant global footprint, conducting operations across Central Asia, Europe, the United States, Russia, and the Middle East/Caucasus regions. It was previously known as BMB Munai, Inc. before rebranding as Freedom Holding Corp.
Business History
Price Overview
Price at report time · Jul 2, 8:05am (0m ago)
$157.11
Change · Jul 2
+26.64 (+20.42%)
Day Range
$131.65 – $157.74
52-Week Range
$107.98 – $194.01
50-Day MA
$143.23
200-Day MA
$141.56
Volume
348,532.00
Right now · live
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Real-time — the change above is the move since the report (over 0m).
Analyst Price Targets
Low
$138.00
Consensus
$138.00
High
$138.00
(4 analysts)
Share Structure
Outstanding
61,292,581.00
Float
18,116,861.00
Free Float
29.6%
Low free float
— 29.6% of shares trade freely, ~70.4% held by insiders/institutions
Below average liquidity. Large orders can move the price significantly. Insiders or strategic holders control the majority — watch for lockup expirations or secondary offerings.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
62.80
Stock Price: $157.11
EPS (Diluted): 2.56
EPS (Diluted): 2.56
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
5.84
Stock Price: $157.11
Total Equity: $1.49B
Shares: 61,117,931
Total Equity: $1.49B
Shares: 61,117,931
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
14.67
Market Cap: $9.63B
Total Debt: $2.29B
Cash: $966.12M
EBITDA: $749.56M
Total Debt: $2.29B
Cash: $966.12M
EBITDA: $749.56M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$10.1B
Market Cap: $9.63B
Total Debt: $2.29B
Cash: $966.12M
Total Debt: $2.29B
Cash: $966.12M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
72.2%
Gross Profit: $1.58B
Revenue: $2.19B
Revenue: $2.19B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
32.6%
Operating Income: $715.00M
Revenue: $2.19B
Revenue: $2.19B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
7.0%
Net Income: $153.33M
Revenue: $2.19B
Revenue: $2.19B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
11.5%
Net Income: $153.33M
Total Equity: $1.49B
Total Equity: $1.49B
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
8.8%
Operating Income: $715.00M
Tax Rate: 32.1%
Equity: $1.49B
Total Debt: $2.29B
Cash: $966.12M
Tax Rate: 32.1%
Equity: $1.49B
Total Debt: $2.29B
Cash: $966.12M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.35
Current Assets: $12.32B
Current Liabilities: $9.15B
Current Liabilities: $9.15B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
1.53
Short-Term Debt: $1.02B
Long-Term Debt: $1.26B
Total Debt: $2.29B
Total Equity: $1.49B
Long-Term Debt: $1.26B
Total Debt: $2.29B
Total Equity: $1.49B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$35.85
Revenue: $2.19B
Shares: 61,117,931
Shares: 61,117,931
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$24.37
Total Equity: $1.49B
Shares: 61,117,931
Shares: 61,117,931
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-0.62
Operating CF: $160.61M
CapEx: -$198.77M
Shares: 61,117,931
CapEx: -$198.77M
Shares: 61,117,931
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $157.11
Stock Price: $157.11
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $153.33M
Net Income: $153.33M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares FRHC against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jul 2, 2026 6:01am (2h ago)| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Revenue | $689.8M | $795.7M | $1.7B | $2.0B | $2.2B |
| Cost of Revenue | $186.6M | $224.8M | $492.5M | $963.6M | $609.9M |
| Gross Profit | $503.1M | $570.9M | $1.2B | $1.1B | $1.6B |
| Operating Expenses | $58.5M | $129.4M | $237.4M | $438.1M | $866.4M |
| Operating Income | $444.7M | $441.4M | $926.8M | $631.8M | $715.0M |
| Net Income | $227.5M | $205.1M | $375.5M | $84.7M | $153.3M |
| EBITDA | $444.1M | $450.0M | $951.1M | $666.0M | $749.6M |
| EPS | $3.84 | $3.50 | $6.37 | $1.43 | $2.56 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jul 2, 2026 6:01am (2h ago)| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Cash & Equivalents | $225.5M | $581.4M | $545.1M | $837.3M | $966.1M |
| Total Current Assets | $3.2B | $5.0B | $8.1B | $9.5B | $12.3B |
| Total Assets | $3.2B | $5.1B | $8.3B | $9.9B | $13.2B |
| Current Liabilities | $2.5B | $3.6B | $6.0B | $7.2B | $9.1B |
| Long-Term Debt | $37.9M | $60.0M | $276.7M | $494.4M | $1.3B |
| Total Liabilities | $2.7B | $4.3B | $7.1B | $8.7B | $11.7B |
| Total Equity | $553.6M | $777.3M | $1.2B | $1.2B | $1.5B |
| Retained Earnings | $441.9M | $647.1M | $998.7M | $1.1B | $1.2B |
Cash Flow (Annual)
Last updated: Jul 2, 2026 6:01am (2h ago)| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$406.4M | -$951.7M | -$1.1B | $1.7B | $160.6M |
| Capital Expenditure | -$5.6M | -$38.5M | -$43.8M | -$95.3M | -$198.8M |
| Free Cash Flow | -$412.0M | -$990.2M | -$1.1B | $1.6B | -$38.2M |
| Acquisitions (net) | $0 | -$26.8M | -$53.8M | -$23.7M | -$13.2M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $11.4M | -$203.4M | -$19.2M | $637.0M | $440.9M |
Analyst Estimates (Annual)
Last updated: Jul 2, 2026 6:01am (2h ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue |
$751.4M $751.4M – $751.4M
|
$644.4M $644.4M – $644.4M
|
$650.4M $650.4M – $650.4M
|
$650.4M $650.4M – $650.4M
|
| EBITDA |
$393.9M $393.9M – $393.9M
|
$337.8M $337.8M – $337.8M
|
$340.9M $340.9M – $340.9M
|
$319.1M $319.1M – $319.1M
|
| Net Income |
$380.5M $380.5M – $380.5M
|
$263.1M $263.1M – $263.1M
|
$272.2M $272.2M – $272.2M
|
$275.0M $275.0M – $275.0M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jul 2, 2026 6:01am (2h ago)| Metric | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue Growth | +15.4% | +108.2% | +22.7% | +7.8% |
| Gross Profit Growth | +13.5% | +103.9% | -8.1% | +47.8% |
| Operating Income Growth | -0.7% | +109.9% | -31.8% | +13.2% |
| Net Income Growth | -9.8% | +83.1% | -77.5% | +81.1% |
| EBITDA Growth | +1.3% | +111.3% | -30.0% | +12.5% |
Insider Trading (Recent)
Last updated: Jul 2, 2026 6:01am (2h ago)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-22 | Tukanov Renat | S-Sale | 1,800.00 | $140.82 | $253,476 |
| 2026-06-22 | Gamble Andrew | S-Sale | 357.00 | $141.04 | $50,351 |
| 2026-06-11 | Williams Amber | A-Award | 677.00 | $0.00 | $0 |
| 2026-06-11 | Gamble Andrew | A-Award | 677.00 | $0.00 | $0 |
| 2026-06-11 | Vogeleer Philippe J.R. | A-Award | 677.00 | $0.00 | $0 |
| 2026-06-04 | Yerdessov Azamat | S-Sale | 306.00 | $151.58 | $46,383 |
| 2026-06-04 | Yerdessov Azamat | S-Sale | 3,694.00 | $152.01 | $561,525 |
| 2026-06-04 | Yerdessov Azamat | S-Sale | 2,000.00 | $153.00 | $306,000 |
| 2026-06-04 | Yerdessov Azamat | S-Sale | 2,000.00 | $155.00 | $310,000 |
| 2026-06-04 | Yerdessov Azamat | S-Sale | 2,430.00 | $156.03 | $379,153 |
| 2026-06-04 | Yerdessov Azamat | S-Sale | 2,000.00 | $157.00 | $314,000 |
| 2026-06-04 | Yerdessov Azamat | S-Sale | 893.00 | $158.76 | $141,773 |
| 2026-06-04 | Yerdessov Azamat | S-Sale | 3,477.00 | $159.09 | $553,156 |
| 2026-05-29 | Yerdessov Azamat | A-Award | 83,749.00 | $0.00 | $0 |
| 2026-02-11 | Tukanov Renat | A-Award | 9,000.00 | $0.00 | $0 |
| 2026-02-25 | Lukyanov Sergey | P-Purchase | 12,000.00 | $120.42 | $1.4M |
| 2026-02-24 | Lukyanov Sergey | P-Purchase | 8,000.00 | $120.66 | $965,280 |
| 2026-02-12 | Gamble Andrew | S-Sale | 400.00 | $119.39 | $47,756 |
| 2025-09-15 | Gamble Andrew | A-Award | 757.00 | $0.00 | $0 |
| 2025-09-15 | Vogeleer Philippe J.R. | A-Award | 757.00 | $0.00 | $0 |
Dividend History (Last 20)
Last updated: Jul 2, 2026 6:01am (2h ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2002-09-03 | $1.33 | 2002-08-21 | 2002-08-23 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for FRHC — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.367 · 8fb65fa8 · 2026-07-01 20:05:31