FRHC Financial Services

Freedom Holdings Corp.

$186.83-0.25%

Price as of close on Nov 3, 2026 · Financials updated Nov 4, 2026

Basics

Sector: Financial Services
Industry: Financial Conglomerates
Country: United States
Market cap: 11.9B USD
Full-time employees: 12,100

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Ranks #542 of 791 banks & insurance companies (bottom 32%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $347M in FY Mar 2021 to $2.2B in FY Mar 2026.
Freedom's fiscal-year revenue rose in each of the five years to FY Mar 2026, from $347M to $2.2B.

StockQuotient Score

43/ 100

Oct 5 43 → Nov 4 43

Valuation

Is the price right?

2/100

Weak

2/2 inputs reported · High confidence

Since last quarter: ▼ Weaker

Share count up 4.1% (existing holders diluted)

Valuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ P/B
▼ Earnings yield

Compare with peers

Behind the score

Earnings yield (P/E) and book yield (P/B) versus other banks and insurers.

Book yield12.9%

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile40% base weight · Z-score -2.06Sector median: 0.7950 · MAD: 0.2843

Earnings yield1.2%

SEC filings · 12 months to Jun 2026Reported value60% base weight · Z-score -2.63Sector median: 0.0789 · MAD: 0.0253

Other data (not scored)

EBITDA yieldUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.1095 · MAD: 0.0527

Free cash flow yield-7.4%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share priceInformational · 0% composite weightSector median: 0.0796 · MAD: 0.0459

Growth

Is it growing?

88/100

Strong

1/1 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 9.5%

Why

Stronger than most peers on:

▲ EPS growth

Compare with peers

Behind the score

Earnings-per-share growth versus other banks and insurers.

Earnings per share growth78.8%

SEC filings · 12 months to Jun 2026Reported value100% base weight · Z-score 3.54Sector median: 0.1599 · MAD: 0.1775

Other data (not scored)

3-year revenue growth36.5%

SEC filings · 3 years to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0826 · MAD: 0.0558

Revenue growth15.8%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0866 · MAD: 0.0782

Profitability

Does it earn well?

40/100

Moderate

2/2 inputs reported · High confidence

Since last quarter: No major change

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Return on equity and return on assets versus other banks and insurers.

Return on assets1.1%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.20Sector median: 0.0117 · MAD: 0.0062

Return on equity9.6%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.29Sector median: 0.1074 · MAD: 0.0388

Other data (not scored)

Gross marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Operating margin31.8%

Yahoo Finance fallback · SEC operating income not reported in standard form · fiscal year to Mar 2026Reported valueInformational · 0% composite weightSector median: 0.1450 · MAD: 0.1678

Return on invested capitalUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Risk

Debt, liquidity, price swings

Not rated

Not rated for banks and insurers: debt and share-price swings say little about their risk. We leave it blank rather than fill the gap with a made-up middle value.

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Freedom

Is Freedom getting weaker?: Its latest SEC filing (Aug 10, 2026) got weaker in some ways: share count up 4.1%. Its overall score is unchanged at 43/100 since Oct 28, 2026.
How is Freedom valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 2/100 against 950 banks & insurance peers. Book yield 12.9% vs a peer median of 79.5% (weaker than 100% of peers).Book yield 12.9% vs peers 79.5% (weaker than 100% of peers).
Is Freedom growing?: Yes, faster than most of its peers. Growth scores 88/100 against 950 banks & insurance peers. Earnings per share growth 78.8% vs a peer median of 16.0% (stronger than 88% of peers).Earnings per share growth 78.8% vs peers 16.0% (stronger than 88% of peers).
How profitable is Freedom?: About as profitable as its peers. Profitability scores 40/100 against 950 banks & insurance peers.
How risky is Freedom?: Not rated for banks and insurers: debt and share-price swings say little about their risk.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 10, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

Share count up 4.1% (existing holders diluted)

	Previous quarter	Latest quarter	Change
Revenue (12 months)	2.2B USD	2.4B USD	+9.5%
Net income (12 months)	153.3M USD	147.6M USD	−3.7%
Free cash flow (12 months)	−13.5M USD	−888.8M USD	+6461.7%
Cash	966.1M USD	1.4B USD	+39.8%
Shares outstanding	61.3M	63.8M	+4.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Banks & Insurance · 209 companies

Valuations in Banks & Insurance are within their usual range since 2016.

55% of months since 2016 were valued lower than now.
27% of companies are in the most expensive fifth of their own price-to-book history.
Over 24 months, company values +25% and earnings +33% (medians): prices and earnings moved broadly together.
Median price-to-book is −57% vs the whole market, against a usual −57%.

2016Shaded: most expensive fifth of its range2026

Shown for Banks & Insurance: too few Financial Conglomerates companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Mar 2022	FY Mar 2023	FY Mar 2024	FY Mar 2025	FY Mar 2026	Change
Operating margin	53.3%	—	—	—	—	—
Net margin	33.0%	25.7%	23.0%	3.8%	7.0%	▲ 3.2 pts
Return on assets (ROA)	7.0%	4.0%	4.6%	0.8%	1.2%	▲ 0.4 pts
Return on equity (ROE)	41.1%	26.4%	32.6%	6.2%	10.3%	▲ 4.1 pts
Interest coverage	4.78×	—	—	—	—	—

FRHC price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Ranks #542 of 791 banks & insurance companies (bottom 32%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Questions investors ask about Freedom

Is Freedom getting weaker?

Its latest SEC filing (Aug 10, 2026) got weaker in some ways: share count up 4.1%. Its overall score is unchanged at 43/100 since Oct 28, 2026.

How is Freedom valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 2/100 against 950 banks & insurance peers. Book yield 12.9% vs a peer median of 79.5% (weaker than 100% of peers).Book yield 12.9% vs peers 79.5% (weaker than 100% of peers).

Is Freedom growing?

Yes, faster than most of its peers. Growth scores 88/100 against 950 banks & insurance peers. Earnings per share growth 78.8% vs a peer median of 16.0% (stronger than 88% of peers).Earnings per share growth 78.8% vs peers 16.0% (stronger than 88% of peers).

How profitable is Freedom?

About as profitable as its peers. Profitability scores 40/100 against 950 banks & insurance peers.

How risky is Freedom?

Not rated for banks and insurers: debt and share-price swings say little about their risk.

Previous quarter

Latest quarter

Change

Revenue (12 months)

2.2B USD

2.4B USD

+9.5%

Net income (12 months)

153.3M USD

147.6M USD

−3.7%

Free cash flow (12 months)

−13.5M USD

−888.8M USD

+6461.7%

Cash

966.1M USD

1.4B USD

+39.8%

Shares outstanding

61.3M

63.8M

+4.1%

Key ratios

FY Mar 2022

FY Mar 2023

FY Mar 2024

FY Mar 2025

FY Mar 2026

Change

Operating margin

53.3%

—

Net margin

33.0%

25.7%

23.0%

3.8%

7.0%

▲ 3.2 pts

Return on assets (ROA)

7.0%

4.0%

4.6%

0.8%

1.2%

▲ 0.4 pts

Return on equity (ROE)

41.1%

26.4%

32.6%

6.2%

10.3%

▲ 4.1 pts

Interest coverage

4.78×

—