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MARKETS / NASDAQ / FRHC
NASDAQ · SECURITY BROKERS, DEALERS & FLOTATION COMPANIES · LARGE CAP

Freedom Holding Corp. FRHC

16 fiscal years on record · USD · FY2025 reported · SEC filings only
$97.4M
▲ 143.0% YoY
$153.3M
▲ 101.0% YoY
$-13.5M
▼ 100.8% YoY
In brief

What this company does

As of March 31, 2026, the company had 11,627 full-time employees, 230 offices and 858,000 retail brokerage customer accounts. The main market of the company's operations is Kazakhstan. The company has realigned its reportable segments into four segments: Brokerage, Banking, Insurance, and Other. The Company draws its origins from two companies: BMB Munai, a Kazakhstani energy company founded in 1981, and Freedom Finance, a brokerage company founded by Timur Turlov in Kazakhstan in 2011. In November 2015, BMB Munai entered into a reverse acquisition agreement with Timur Turlov, whereby the company changed its name to Freedom Holding Corp.

Written from the business description in Freedom Holding Corp.'s annual report to the U.S. Securities and Exchange Commission, filed 1 June 2026. Every sentence was checked against that document before publication.

Growth
USD 97.4M
Revenue, FY2025 · full 16-year series below
Revenue $M Net income $M
FY2025 · Revenue 97.4 · Net income 153.3
250.0M500.0M-50.0M-100.0M201020122014201620182020202220242025
Compound annual growth
−22.4%
−9.2%
+0.5%
+25.8%
−10.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −22.4% a year over five years — but profit grew faster: net income at +0.5%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
157 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 231.9% · Net 157.3%
1000%2000%201020122014201620182020202220242025
ROE
FY2025 · ROE 11.3%
20%40%60%-100%-200%201020122014201620182020202220242025

Each USD of equity produced 11 cents of profit this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF -0.0
0.8B1.6B-0.4B-0.8B201020122014201620182020202220242025
Net buybacks $M Dividends $M
FY2011 · Dividends 58.0 · Net buybacks —
20M40M2011

Total assetsUSD 13.2B
EquityUSD 1.5B
CashUSD 966.1M
DepositsUSD 7.1B

Equity funds 11% of total assets.

The 16-year record
16 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016201520142013201220112010
Revenue $B0.10.00.00.00.70.30.10.10.10.00.00.00.00.00.00.0
Operating income $B0.20.10.40.20.40.20.0−0.0·−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EBITDA $B0.30.10.40.20.40.20.0−0.0·−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Income tax $B0.10.00.10.00.00.00.00.00.00.0−0.0−0.00.00.00.0·
Net income $B0.20.10.40.20.20.10.00.00.0−0.0−0.0−0.0−0.0−0.0−0.10.0
Free cash flow $B−0.01.6−1.1−1.0−0.40.50.10.1−0.0−0.0−0.0·····
EPS, diluted $2.511.266.393.453.842.560.43·········
Dividend / sh $················
Payout %··············−42·
ROE %11.36.439.130.854.873.720.15.822.5−1.7−3.8−11.0−205.0−26.9−116.02.2
Shares out B0.060.060.060.060.060.060.060.060.060.010.280.220.060.060.060.06

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 47 reconciliationsAUDITED

Reconciled in 16 of 19 fiscal years. 44 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivitySecurity Brokers, Dealers & Flotation Companies
Listed onNASDAQ
Incorporated inNevada
Fiscal year endsMarch 31
Data on record since2010

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