Freedom Holding FRHC
United StatesFinancial Services · Financial ConglomeratesUSD
0.00 USD (−100.0%)
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Freedom Holding Corp. is a financial conglomerate operating as a brokerage and bank, with a primary presence in Kazakhstan and other Central Asian markets, offering brokerage, banking, and asset management services.
Key points
from its scores- ✓Favourable backdrop7.1
- ✕Demanding valuation1.2
- ✕Little or no dividend1.4
- ✕Little competitive advantage3.8
AI analysis
bottom line, main risk, context and newsHold only for investors with high risk tolerance and a long-term horizon; the current valuation offers no margin of safety.
Freedom Holding shows solid revenue growth of 27.8%, but the decline in profit (-14.8%) and a very demanding valuation (P/E 69.35, P/B adjusted for ROE 6.55) weigh on its attractiveness. Return on equity (ROE 10.68%) is acceptable, although the operating margin (5.01%) is tight. The main risk lies in its exposure to Central Asian jurisdictions with weaker governance.
The main risk is the concentration of revenues and assets in Kazakhstan and other Central Asian jurisdictions, where regulatory oversight and minority investor protection are weaker than in developed markets, which could affect transparency and corporate governance.
Context and risks
Freedom Holding Corp. operates as a brokerage and bank in Kazakhstan and other Central Asian jurisdictions, with a significant portion of its revenues and assets in emerging markets with weaker institutional governance than its formal domicile in the US. The quality of local regulatory oversight and minority investor protection in those jurisdictions is inferior to developed market standards, adding a governance and legal risk not captured by financial metrics.
Is Freedom Holding stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 342% above the Financial Services median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 69.3 | 13.7 | +406% |
| Price / book | 7.0 | 1.9 | +277% |
| Price / sales | 6.4 | 3.5 | +84% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 1.2 out of 10 (median for Financial Services: 5.2).
Average analyst target: 0.00 USD, −100.0% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 3.8 (sector 8.8), Growth 5.4 (sector 6.9).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Financial Services medianValuation
- P/E
- 69.3
- Forward P/E
- 38.8
- Price / book
- 7.0
- Price / sales
- 6.4
- Market cap
- 11.1B USD
- Enterprise value
- 9.6B USD
Profitability
- ROE
- 10.7%
- ROA
- 1.2%
- ROIC (approx.)
- 2.0%
- Gross margin
- 84.8%
- Operating margin
- 5.0%
- Net margin
- 8.4%
Solvency
- Total debt
- 2.8B USD
- Net debt
- −1.5B USD
- Cash
- 4.3B USD
- Debt / equity
- 181.59
- Current ratio
- 1.23
- Quick ratio
- 1.08
Growth
- Revenue growth
- +27.8%
- Earnings growth
- −14.8%
- EPS (TTM)
- 2.52 USD
- EPS (forward)
- 4.50 USD
Dividend
- Dividend yield
- 0.0%
- Payout
- 0.0%
Risk and market
- Beta
- 0.69
- Analyst consensus
- none (0)
- Target price
- 0.00 USD
- 52-week range
- 107.97 – 178.00
Recent news
All FRHC news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about Freedom Holding
Is Freedom Holding stock cheap or expensive?
On P/E and Price / book, it trades 342% above the Financial Services median on average. Valuation score: 1.2 out of 10 (median for Financial Services: 5.2). Average analyst target: 0.00 USD, −100.0% versus the price. This is not investment advice.
What score does Freedom Holding get on MeridIAn Screener?
It scores 4.1 out of 10, rank 1,953 of 2,130 (better than 8% of the companies analysed). Its strongest category is Risk & Context (7.1) and its weakest, Valuation (1.2). Analysis of 08/10/2026.
What is Freedom Holding's P/E ratio?
Its P/E is 69.3: the share price equals 69.3 times earnings per share over the last 12 months. The Financial Services median is 13.7. Based on the earnings analysts expect, the forward P/E is 38.8.
How much is Freedom Holding worth on the stock market?
Its market capitalisation is 11.1B USD.
Does Freedom Holding pay a dividend?
It pays no dividend, or almost none.
How has Freedom Holding stock performed over the last year?
It has risen 7.0% over the last year, excluding dividends. Over the last 52 weeks it has traded between 107.97 and 178.00 USD. Past performance does not guarantee future results.