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Freedom Holding Corp.

FRHC Clue Score54
United States Fiscal year ends March CIK 0000924805
$169.65 +1.77% Close, 9 Oct 2026
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Price $169.65 +168.31% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 3 Oct 2017. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue0.00Operating income−0.00Net income−0.00Fiscal year 2018Revenue0.06Net income0.02EPS, diluted0.58Fiscal year 2019Revenue0.07 +34.5%Net income0.01 −62.8%EPS, diluted0.12Fiscal year 2020Revenue0.08 +12.3%Net income0.02 +247.5%EPS, diluted0.43Fiscal year 2021Revenue0.35 +316.0%Net income0.15 +502.5%EPS, diluted2.56Fiscal year 2022Revenue0.69 +98.9%Net income0.23 +52.0%EPS, diluted3.84Fiscal year 2023Revenue0.80 +15.9%Net income0.21 −9.8%EPS, diluted3.45Fiscal year 2024Revenue1.65 +106.1%Net income0.38 +84.8%EPS, diluted6.39Fiscal year 2025Revenue2.00 +21.7%Net income0.08 −79.9%EPS, diluted1.26Fiscal year 2026Revenue2.19 +9.3%Net income0.15 +101.0%EPS, diluted2.51
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 0.00 0.06 0.07 0.08 0.35 0.69 0.80 1.65 2.00 2.19
Growth +34.5% +12.3% +316.0% +98.9% +15.9% +106.1% +21.7% +9.3%
Operating income −0.00 n/a n/a n/a n/a n/a n/a n/a n/a n/a
Net income −0.00 0.02 0.01 0.02 0.15 0.23 0.21 0.38 0.08 0.15
Growth −62.8% +247.5% +502.5% +52.0% −9.8% +84.8% −79.9% +101.0%
EPS, diluted n/a 0.58 0.12 0.43 2.56 3.84 3.45 6.39 1.26 2.51

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Net margin
Fiscal year 2017Fiscal year 2018Net margin34.8%Free cash flow margin−38.3%Fiscal year 2019Net margin9.6%Free cash flow margin72.0%Fiscal year 2020Net margin29.8%Free cash flow margin96.7%Fiscal year 2021Net margin43.1%Free cash flow margin152.2%Fiscal year 2022Net margin33.0%Free cash flow margin−59.7%Fiscal year 2023Net margin25.7%Free cash flow margin−123.9%Fiscal year 2024Net margin23.0%Free cash flow margin−66.8%Fiscal year 2025Net margin3.8%Free cash flow margin79.8%Fiscal year 2026Net margin7.0%Free cash flow margin−0.6%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Net margin n/a 34.8% 9.6% 29.8% 43.1% 33.0% 25.7% 23.0% 3.8% 7.0%
Free cash flow margin n/a −38.3% 72.0% 96.7% 152.2% −59.7% −123.9% −66.8% 79.8% −0.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow−0.00Capital expenditure0.00Free cash flow−0.00Fiscal year 2018Operating cash flow−0.02Capital expenditure−0.00Free cash flow−0.02Fiscal year 2019Operating cash flow0.06Capital expenditure−0.00Free cash flow0.05Fiscal year 2020Operating cash flow0.08Capital expenditure−0.00Free cash flow0.08 +50.7%Fiscal year 2021Operating cash flow0.53Capital expenditure−0.00Free cash flow0.53 +554.7%Fiscal year 2022Operating cash flow−0.41Capital expenditure−0.01Free cash flow−0.41 −178.0%Fiscal year 2023Operating cash flow−0.95Capital expenditure−0.04Free cash flow−0.99Fiscal year 2024Operating cash flow−1.06Capital expenditure−0.04Free cash flow−1.10Fiscal year 2025Operating cash flow1.68Capital expenditure−0.08Free cash flow1.60Fiscal year 2026Operating cash flow0.19Capital expenditure−0.20Free cash flow−0.01 −100.8%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow −0.00 −0.02 0.06 0.08 0.53 −0.41 −0.95 −1.06 1.68 0.19
Capital expenditure 0.00 −0.00 −0.00 −0.00 −0.00 −0.01 −0.04 −0.04 −0.08 −0.20
Free cash flow −0.00 −0.02 0.05 0.08 0.53 −0.41 −0.99 −1.10 1.60 −0.01
Growth +50.7% +554.7% −178.0% −100.8%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash0.01Shareholders’ equity0.04Fiscal year 2018Cash0.07Shareholders’ equity0.13Fiscal year 2019Cash0.05Shareholders’ equity0.12Fiscal year 2020Cash0.01Shareholders’ equity0.13Fiscal year 2021Cash0.17Total debt0.00Net cash (debt)0.17Shareholders’ equity0.28Debt to equity0.00Fiscal year 2022Cash0.23Shareholders’ equity0.55Fiscal year 2023Cash0.58Shareholders’ equity0.78Fiscal year 2024Cash0.55Shareholders’ equity1.16Fiscal year 2025Cash0.84Shareholders’ equity1.22Fiscal year 2026Cash0.97Shareholders’ equity1.49
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 0.01 0.07 0.05 0.01 0.17 0.23 0.58 0.55 0.84 0.97
Total debt n/a n/a n/a n/a 0.00 n/a n/a n/a n/a n/a
Net cash (debt) n/a n/a n/a n/a 0.17 n/a n/a n/a n/a n/a
Shareholders’ equity 0.04 0.13 0.12 0.13 0.28 0.55 0.78 1.16 1.22 1.49
Debt to equity n/a n/a n/a n/a 0.00 n/a n/a n/a n/a n/a

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending March, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 31 Mar 2017 FY2018 31 Mar 2018 FY2019 31 Mar 2019 FY2020 31 Mar 2020 FY2021 31 Mar 2021 FY2022 31 Mar 2022 FY2023 31 Mar 2023 FY2024 31 Mar 2024 FY2025 31 Mar 2025 FY2026 31 Mar 2026
Margins
n/a n/a −11.2% 34.9% 43.8% 52.7% 29.5% 26.6% 5.2% 10.3%
n/a 34.8% 9.6% 29.8% 43.1% 33.0% 25.7% 23.0% 3.8% 7.0%
n/a −38.3% 72.0% 96.7% 152.2% −59.7% −123.9% −66.8% 79.8% −0.6%
Spending
n/a n/a n/a n/a 3.2% 3.4% 7.5% 7.3% 8.1% 10.1%
n/a 3.6% 6.7% 2.4% 0.4% 0.8% 4.8% 2.2% 4.0% 9.1%
n/a n/a n/a 17.0% 15.4% 10.6% 18.1% 13.8% 27.2% 32.1%
Returns
−1.3% 15.1% 6.1% 19.2% 54.0% 41.1% 26.4% 32.6% 6.2% 10.3%
−6.7% 5.8% 2.0% 5.5% 7.1% 7.0% 4.0% 4.6% 0.8% 1.2%
Balance and payout
n/a n/a n/a n/a 0.00 n/a n/a n/a n/a n/a
897.6% 65.1% 66.5% 71.5% 86.9% 83.1% 84.8% 85.9% 87.6% 88.7%