Growth & profitability
- Revenue has grown 44.6% per year over the past 5 years.
- Net income has grown slower than revenue (0.5% vs 44.6% per year).
FRHC Financials Freedom Holding Corp.
15 years of revenue, profit, cash flow and balance-sheet history through FY2026, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
ROEROA
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2026 | $2.2B | $153M | 96.4% | 0.0% | 10.3% | 1.2% | -$14M | — | $966M |
| 2025 | $2.0B | $76M | 98.4% | 0.0% | 6.2% | 0.8% | $1.6B | — | $837M |
| 2024 | $1.6B | $379M | 98.9% | 0.0% | 32.6% | 4.6% | -$1.1B | — | $545M |
| 2023 | $799M | $205M | 100.0% | 0.0% | 26.4% | 4.0% | -$990M | — | $581M |
| 2022 | $690M | $227M | 0.0% | 0.0% | 41.1% | 7.0% | -$412M | — | $225M |
| 2021 | $347M | $150M | 0.0% | 0.0% | 54.0% | 7.1% | $528M | $0 | $169M |
| 2020 | $83M | $25M | 0.0% | 0.0% | 19.2% | 5.5% | $81M | — | $11M |
| 2019 | $74M | $7M | 0.0% | 0.0% | 6.1% | 2.0% | — | — | $88M |
| 2018 | $55M | $19M | 0.0% | 0.0% | 15.1% | 5.8% | — | — | $66M |
| 2017 | $0 | -$578139 | — | — | -1.3% | -0.5% | -$369141 | — | $34M |
| 2016 | $0 | -$491999 | — | — | -1.9% | -5.7% | -$538828 | — | $19M |
| 2015 | $0 | -$18787 | — | — | -5.2% | -4.5% | — | — | $402718 |
| 2014 | $0 | -$2M | — | — | 8145.0% | -18.3% | — | — | $9M |
| 2013 | $0 | -$3M | — | — | -199.0% | -29.2% | — | — | $10M |
| 2012 | $0 | -$139M | — | — | -651.2% | -336.1% | — | — | $39M |
RevenueNet income
GrossOperatingNet
ROEROA
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jun '26 | $733M | $32M | 95.2% | 0.0% | 2.1% | 0.2% | -$421M | — | $1.4B |
| Mar '26 | $503M | $8M | 95.0% | 0.0% | 0.5% | 0.1% | -$1.6B | — | $966M |
| Dec '25 | $629M | $76M | 96.0% | 0.0% | 5.5% | 0.6% | $652M | — | $869M |
| Sep '25 | $526M | $39M | 97.1% | 0.0% | 3.2% | 0.4% | $456M | — | $636M |
| Jun '25 | $524M | $37M | 97.3% | 0.0% | 3.0% | 0.4% | $454M | — | $568M |
| Mar '25 | $298M | -$151M | 95.9% | 0.0% | -12.3% | -1.5% | $1.3B | — | $837M |
| Dec '24 | $665M | $78M | 98.6% | 0.0% | 6.2% | 0.9% | -$93M | — | $578M |
| Sep '24 | $586M | $115M | 99.1% | 0.0% | 9.1% | 1.3% | -$447M | — | $569M |
| Jun '24 | $455M | $34M | 99.1% | 0.0% | 3.0% | 0.4% | $830M | — | $719M |
| Mar '24 | $496M | $95M | 0.0% | 0.0% | 8.2% | 1.1% | — | — | $545M |
| Dec '23 | $419M | $96M | 0.0% | 0.0% | 9.3% | 1.3% | -$38M | — | $562M |
| Sep '23 | $436M | $116M | 0.0% | 0.0% | 12.7% | 1.6% | -$446M | — | $464M |
| Jun '23 | $316M | $68M | 0.0% | 0.0% | 8.3% | 1.0% | -$925M | — | $597M |
| Mar '23 | $229M | $55M | 0.0% | 0.0% | 7.1% | 1.1% | -$497M | — | $581M |
| Dec '22 | $214M | $63M | 0.0% | 0.0% | 9.1% | 1.2% | -$450M | — | $664M |
| Sep '22 | $180M | $26M | 0.0% | 0.0% | 4.2% | 0.5% | $228M | — | $790M |
| Jun '22 | $173M | $61M | 0.0% | 0.0% | 9.9% | 1.6% | -$270M | — | $246M |
| Mar '22 | $92M | -$89M | 0.0% | 0.0% | -16.1% | -2.8% | $204M | — | $225M |
| Dec '21 | $155M | $54M | 0.0% | 0.0% | 9.2% | 2.0% | -$634M | — | $146M |
| Sep '21 | $317M | $207M | 0.0% | 0.0% | 38.1% | 8.3% | $93M | $13428 | $185M |
Valuation over time
How the market has priced FRHC against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has risen from 22.3× (Mar '23) to 67.9× (Sep '26).
- The price-to-sales ratio has fallen from 5.7× (Mar '23) to 4.8× (Sep '26).
P/E
P/S
Frequently asked questions
Is FRHC growing its revenue and profit?
Over the past 5 years, Freedom Holding Corp.'s revenue has grown 44.6% per year, and net income grown 0.5% per year. These are computed facts, not advice.
How much debt does FRHC have?
As of FY2026, Freedom Holding Corp. reported — of total debt against $966M of cash.
What is FRHC's profit margin?
In FY2026, gross margin was 96.4%, operating margin —, and net margin 7.0%.
What is FRHC's P/E ratio?
As of Sep '26, Freedom Holding Corp. traded at a price-to-earnings ratio of about 67.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.