Freedom Holding Corp.

Finance
Investment Bankers/Brokers/Service
www.freedomholdingcorp.com

Earnings Score
Moat Score

Market Cap $8.81B
PE 27
Debt -
Cash $1.32B
EV -
FCF $591.24M

Earnings

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Sales & Net Margins

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Earnings	$322.36M
EBIT	$372.90M
ROE	26%
ROA	4%
FCF	$591.24M
Equity	$1.26B
Growth Stability	100%
PE	27.34
PEG	0.54
PB	6.98
P/FCF	14.9
P/S	4.1
Price/Cash	0.15
Net Margins	13%
Op. Margins	17%
Earnings CAGR	70%
Sales Growth YoY	57%
Sales Growth QoQ	13%
Sales CAGR	79%
FCF CAGR	7%
Equity CAGR	76%

Earnings Stability	0.63
Earnings Growth YoY	-19%
Earnings Growth QoQ	-32%
Earnings CAGR 5Y	51%
Sales CAGR 5Y	73%
FCF CAGR 5Y	7%
Equity CAGR 5Y	59%
Earnings CAGR 3Y	77%
Sales CAGR 3Y	77%
Equity CAGR 3Y	40%
Market Cap	$8.81B
Revenue	$2.15B
Assets	$9.14B
Cash	$1.32B
Shares Outstanding	59.24M
Earnings Score	90%
Moat Score	78%
Shares Growth 3y	2%
Equity Growth QoQ	-0%
Equity Growth YoY	22%

Assets & ROA

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Stockholders Equity & ROE

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Freedom Holding Corp. (NASDAQ: FRHC), a Nevada corporation, is a financial services holding company conducting retail financial securities brokerage, investment research, investment counseling, securities trading, investment banking and underwriting services, mortgages, insurance, and consumer banking through its subsidiaries. The company operates under the name of Freedom Finance in Europe and Central Asia. Through its subsidiaries, Freedom Holding Corp. employs more than 2,900 people and is a professional participant in the Kazakhstan Stock Exchange, the Astana International Exchange, the Republican Stock Exchange of Tashkent, and the Uzbek Republican Currency Exchange and is a member of the New York Stock Exchange and the Nasdaq Stock Exchange. Freedom Holding Corp. has its principal executive offices in Almaty, Kazakhstan, and has a presence in 14 countries, including Kazakhstan, Cyprus, the United States, Uzbekistan, the United Kingdom, and Germany. Freedom Holding Corp.

SEC Filings

Direct access to Freedom Holding Corp. (FRHC) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-K Mar 31
2023
- 10-Q Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-K Mar 31
2022
- 10-Q Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-K Mar 31

Sector Comparison

How does Freedom Holding Corp. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Freedom Holding Corp. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 70%

Stability 63%

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Freedom Holding Corp. Discounted Cash Flow

Fully customizable DCF calculator online for Freedom Holding Corp..

Years

Calculation mode

= $9.3B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$591M	$630M	$671M	$715M	$762M	$812M	$866M	$923M	$983M	$1B	$1.1B	$11B
DCF		$573M	$555M	$538M	$521M	$504M	$489M	$473M	$459M	$444M	$430M	$4.3B
Value	$9.3B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	03/2016	03/2017	03/2018	03/2019	03/2020	03/2021	03/2022	03/2023	03/2024	TTM
Net Margins	-	-	35%	10%	18%	40%	37%	26%	23%	13%
ROA	-	-7%	-	-	9%	10%	8%	5%	5%	4%
ROE	-	378%	15%	6%	17%	52%	41%	26%	32%	26%

Good Net Margins (13.45%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	03/2016	03/2017	03/2018	03/2019	03/2020	03/2021	03/2022	03/2023	03/2024	TTM
Debt over FCF	-	-	-	-	-	0	-	-	-	-
Debt over Equity	-	-	-	-	-	0	-	-	-	-
Growth Stability	-	-	-	100%	100%	100%	100%	100%	100%	100%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (100%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	03/2016	03/2017	03/2018	03/2019	03/2020	03/2021	03/2022	03/2023	03/2024	CAGR 5Y
Revenue YoY growth	-	-	-	35%	64%	189%	60%	41%	105%	73%
Earnings YoY growth	-	18%	-3K%	-63%	210%	543%	49%	-3%	83%	51%
Equity YoY growth	-	-245%	-83K%	-7%	12%	110%	87%	51%	50%	59%
FCF YoY growth	-	-31%	6K%	-353%	-26%	1K%	-161%	185%	15%	7%