Latest revenue
$29.1M
as of 2025-12-31
Latest net income
$76.2M
as of 2025-12-31
Net margin
261.5%
as of 2025-12-31
Community sentiment
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FRHC vs S&P 500 · rebased to 100
Market data
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What this company does
ITEM 1. BUSINESS OVERVIEW Freedom Holding Corp. ("FRHC") is organized under the laws of the State of Nevada and acts as a holding company for all of our subsidiaries. Our subsidiaries engage in a broad range of activities including securities brokerage, securities dealing for customers and for our own account, market making activities, investment research, investment counseling, retail and commercial banking, and insurance products. We also own several ancillary businesses and lifestyle solutions, which complement our core financial services businesses, including payment and information processing services, entertainment and travel ticketing services, e-commerce business, cloud services,…
AI summary unavailable — showing raw filing excerpt
Generated from FRHC's filing dated 2026-06-01
Key risks
ITEM 1A. RISK FACTORS The risks and uncertainties described in the risk factors below are those that we currently consider material, and the statements contained elsewhere in this annual report, including our financial statements, should be read together with these risk factors. The occurrence of any of, or a combination of, the following risks or uncertainties, or additional risks and uncertainties not presently known to us or that we currently believe to be immaterial, could materially and adversely affect our business, financial position, results of operations, liquidity, cash flows, or reputation. Summary of Risk Factors The following is a summary of the principal risks that could…
AI summary unavailable — showing raw filing excerpt
Generated from FRHC's filing dated 2026-06-01
ActaClear Score
Computed from 5 years of SEC fundamentals + latest market data, ranked within Security Brokers, Dealers & Flotation Companies (42 peers). 10 = best in industry, 5 = median, 0 = worst. Refreshed Jun 10, 2026.
Fair value · DCF
Methodology + caveats (click to expand)
Method. 10-year forecast of free cash flow, discounted at the company's WACC, with a Gordon-growth terminal at year 10. FCF is proxied by last fiscal-year net income (proper FCF needs CFO − CapEx by year, which we don't store yet). Beta defaults to 1.0 when not reported.
Why DCF is fragile. Treat the output as a thinking aid, not a verdict. Honest weaknesses of any DCF:
- Growth is the dominant assumption. No one can foresee 10 years of growth — small changes in the slider can double or halve fair value. The reverse-DCF readout above tells you what the market is implicitly assuming; ask yourself whether that's realistic before trusting either number.
- Terminal value dominates. In most DCFs, 60-80% of the answer comes from the terminal-value calculation — i.e., everything AFTER year 10. A 0.5pp change in terminal growth, or in WACC, can swing fair value by 20-30%.
- WACC is itself a guess. We use a textbook CAPM cost of equity (Rf 4.3%, MRP 5.5%, β from the quote) plus a 6% pretax cost of debt — none of these are the company's actual marginal financing cost.
- No moat / disruption modelling. The model assumes the company keeps earning whatever it earns today, compounding cleanly. Competitive shifts, regulatory action, and technology disruption can invalidate the forecast overnight.
- Net income ≠ free cash flow. For capex-heavy names (semis, telcos) net income overstates distributable cash. For low-capex names (software) it understates. Both reduce the precision of the FV figure.
- Reflexivity. A high stock price often becomes a self-fulfilling prophecy via better hiring, financing, and customer trust. DCF can't see this.
Take the DCF, the reverse-DCF implied growth, the historical multiples, and the community sentiment together. When they agree, conviction. When they disagree, the disagreement is the most informative thing on the page.
Historical multiples
How does FRHC's current valuation compare to its own past?
P/E uses year-end weekly close ÷ (net income ÷ shares outstanding today). Held shares constant at today's count, which understates the per-share earnings improvement from buybacks over the period. PEG uses 5y revenue CAGR as a proxy for EPS growth — close, but not identical (margin expansion or dilution can drive a wedge). Best read as a comparator across companies and industries, not as a precise replica of historical multiples.