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FRHC

Freedom Holding NasdaqCM:FRHC Stock Report

Last Price

US$44.35

Market Cap

US$2.6b

7D

10.9%

1Y

-32.4%

Updated

30 Jun, 2022

Data

Company Financials +
FRHC fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance2/6
Financial Health3/6
Dividends0/6

FRHC Stock Overview

Freedom Holding Corp., through its subsidiaries, provides retail securities brokerage, research, investment counseling, securities trading, market making, retail banking, corporate investment banking, and underwriting services.

Rewards

Price-To-Earnings ratio (12.1x) is below the US market (14.5x)

Earnings have grown 67.6% per year over the past 5 years

Risk Analysis

No risks detected for FRHC from our risk checks.

Freedom Holding Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Freedom Holding
Historical stock prices
Current Share PriceUS$44.35
52 Week HighUS$72.43
52 Week LowUS$38.17
Beta1.44
1 Month Change4.18%
3 Month Change-24.83%
1 Year Change-32.40%
3 Year Change304.65%
5 Year Change5,716.39%
Change since IPO35,380.00%

Recent News & Updates

Jun 27
Here's Why We Think Freedom Holding (NASDAQ:FRHC) Might Deserve Your Attention Today

Here's Why We Think Freedom Holding (NASDAQ:FRHC) Might Deserve Your Attention Today

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...

Mar 29
Do Freedom Holding's (NASDAQ:FRHC) Earnings Warrant Your Attention?

Do Freedom Holding's (NASDAQ:FRHC) Earnings Warrant Your Attention?

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...

Shareholder Returns

FRHCUS Capital MarketsUS Market
7D10.9%1.7%1.6%
1Y-32.4%-20.4%-20.8%

Return vs Industry: FRHC underperformed the US Capital Markets industry which returned -20.4% over the past year.

Return vs Market: FRHC underperformed the US Market which returned -20.8% over the past year.

Price Volatility

Is FRHC's price volatile compared to industry and market?
FRHC volatility
FRHC Average Weekly Movement5.7%
Capital Markets Industry Average Movement0.5%
Market Average Movement8.1%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.2%

Stable Share Price: FRHC is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: FRHC's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19813,116Timur Turlovhttps://www.freedomholdingcorp.com

Freedom Holding Corp., through its subsidiaries, provides retail securities brokerage, research, investment counseling, securities trading, market making, retail banking, corporate investment banking, and underwriting services. The company offers investment brokerage services for exchange-traded and over-the-counter corporate equity and debt securities, money market instruments, exchange traded options and futures contracts, government bonds, and mutual funds; margin lending services collateralized by securities and cash in the customer’s account; various investment education and training courses; investment research services; and commercial banking services, including payment cards, digital mortgages, and digital auto loans, as well as insurance products. It also provides capital raising solutions for corporate clients through initial public offerings and follow-on offerings; and debt capital markets solutions that focuses on structuring and distributing private and public debt for various purposes, including buyouts, acquisitions, growth capital financings, and recapitalizations.

Freedom Holding Fundamentals Summary

How do Freedom Holding's earnings and revenue compare to its market cap?
FRHC fundamental statistics
Market CapUS$2.64b
Earnings (TTM)US$217.94m
Revenue (TTM)US$526.46m

12.1x

P/E Ratio

5.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FRHC income statement (TTM)
RevenueUS$526.46m
Cost of RevenueUS$242.82m
Gross ProfitUS$283.63m
Other ExpensesUS$65.70m
EarningsUS$217.94m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)3.66
Gross Margin53.87%
Net Profit Margin41.40%
Debt/Equity Ratio172.9%

How did FRHC perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is FRHC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FRHC?

Other financial metrics that can be useful for relative valuation.

FRHC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Earnings Ratio vs Peers

How does FRHC's PE Ratio compare to its peers?

FRHC PE Ratio vs Peers
The above table shows the PE ratio for FRHC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average12.1x
PIPR Piper Sandler Companies
7.6xn/aUS$2.0b
FUTU Futu Holdings
27.1x25.3%US$7.7b
MC Moelis
7x-15.6%US$2.8b
RILY B. Riley Financial
6.8xn/aUS$1.2b
FRHC Freedom Holding
12.1xn/aUS$2.6b

Price-To-Earnings vs Peers: FRHC is good value based on its Price-To-Earnings Ratio (12.1x) compared to the peer average (12.1x).


Price to Earnings Ratio vs Industry

How does FRHC's PE Ratio compare vs other companies in the US Capital Markets Industry?

Price-To-Earnings vs Industry: FRHC is good value based on its Price-To-Earnings Ratio (12.1x) compared to the US Capital Markets industry average (29.6x)


Price to Earnings Ratio vs Fair Ratio

What is FRHC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FRHC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate FRHC's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of FRHC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FRHC ($44.35) is trading above our estimate of fair value ($13.71)

Significantly Below Fair Value: FRHC is trading above our estimate of fair value.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FRHC's PEG Ratio to determine if it is good value.


Discover undervalued companies

Future Growth

How is Freedom Holding forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


9.9%

Forecasted Diversified Financials industry annual growth in earnings

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if FRHC's forecast earnings growth is above the savings rate (1.9%).

Earnings vs Market: Insufficient data to determine if FRHC's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if FRHC's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: Insufficient data to determine if FRHC's revenue is forecast to grow faster than the US market.

High Growth Revenue: Insufficient data to determine if FRHC's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if FRHC's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Freedom Holding performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


67.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FRHC has high quality earnings.

Growing Profit Margin: FRHC's current net profit margins (41.4%) are lower than last year (44.2%).


Past Earnings Growth Analysis

Earnings Trend: FRHC's earnings have grown significantly by 67.6% per year over the past 5 years.

Accelerating Growth: FRHC's earnings growth over the past year (53.2%) is below its 5-year average (67.6% per year).

Earnings vs Industry: FRHC earnings growth over the past year (53.2%) underperformed the Capital Markets industry 78.6%.


Return on Equity

High ROE: Whilst FRHC's Return on Equity (41.63%) is outstanding, this metric is skewed due to their high level of debt.


Discover strong past performing companies

Financial Health

How is Freedom Holding's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: FRHC's short term assets ($2.9B) exceed its short term liabilities ($2.3B).

Long Term Liabilities: FRHC's short term assets ($2.9B) exceed its long term liabilities ($115.9M).


Debt to Equity History and Analysis

Debt Level: FRHC has more cash than its total debt.

Reducing Debt: FRHC's debt to equity ratio has increased from 137.2% to 172.9% over the past 5 years.

Debt Coverage: FRHC's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if FRHC's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is Freedom Holding current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate FRHC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FRHC's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FRHC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FRHC's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as FRHC has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

6.6yrs

Average management tenure


CEO

Timur Turlov (33 yo)

6.58yrs

Tenure

US$301,714

Compensation

Mr. Timur Ruslanovich Turlov has been Chief Executive Officer of Freedom Holding Corp. (formerly known as BMB Munai, Inc.) since November 2015. Mr. Turlov served as the General Director and Chief Accountan...


CEO Compensation Analysis

Compensation vs Market: Timur's total compensation ($USD301.71K) is below average for companies of similar size in the US market ($USD6.89M).

Compensation vs Earnings: Timur's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: FRHC's management team is seasoned and experienced (6.6 years average tenure).


Board Members

Experienced Board: FRHC's board of directors are seasoned and experienced ( 10.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Freedom Holding Corp.'s employee growth, exchange listings and data sources


Key Information

  • Name: Freedom Holding Corp.
  • Ticker: FRHC
  • Exchange: NasdaqCM
  • Founded: 1981
  • Industry: Investment Banking and Brokerage
  • Sector: Diversified Financials
  • Implied Market Cap: US$2.641b
  • Shares outstanding: 59.54m
  • Website: https://www.freedomholdingcorp.com

Number of Employees


Location

  • Freedom Holding Corp.
  • Esentai Tower BC
  • Floor 7
  • Almaty
  • 50040
  • Kazakhstan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/30 00:00
End of Day Share Price2022/06/30 00:00
Earnings2022/03/31
Annual Earnings2022/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.