Freedom Holding (FRHC) financial statements
Freedom Holding reported revenue of $97M in fiscal 2026, up 7.4% a year over 8 years.
Net income was $153M.
Free cash flow was -$14M.
The diluted share count fell 78% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Freedom Holding's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $55M | $74M | $83M | $347M | $690M | $0 | $22M | $40M | $97M |
| Cost of revenue | — | — | — | — | — | — | $0 | $18M | $31M | $80M |
| Gross profit | — | — | — | — | — | — | $0 | $4M | $9M | $18M |
| Selling, general and admin | $214,310 | — | — | — | $11M | $24M | $60M | $121M | $162M | $222M |
| Operating income | -$581,974 | $20M | $9M | $29M | $152M | $364M | -$563M | -$1.2B | -$1.9B | -$1.9B |
| Interest expense | — | $14M | $15M | $10M | $22M | $77M | $209M | $501M | — | — |
| Pre-tax income | -$578,039 | $20M | -$8M | $29M | $152M | $364M | $236M | $439M | $105M | $226M |
| Income tax | $100 | $479,000 | $1M | $5M | $23M | $39M | $43M | $60M | $28M | $73M |
| Net income | -$578,139 | $19M | $7M | $25M | $150M | $227M | $205M | $379M | $76M | $153M |
| EPS (diluted) | — | — | — | $0.43 | $2.56 | $3.84 | $3.45 | $6.39 | $1.26 | $2.51 |
| Diluted shares | 280M | 33M | 58M | 58M | 58.44B | 59.38B | 60M | 59M | 60M | 61M |
| Gross margin | — | — | — | — | — | — | — | 18.7% | 22.0% | 18.3% |
| Operating margin | — | 35.7% | 11.5% | 34.9% | 43.8% | 52.7% | — | -5500.3% | -4636.9% | -1916.8% |
| Net margin | — | 34.8% | 9.6% | 29.8% | 43.1% | 33.0% | — | 1757.1% | 190.2% | 157.3% |
Balance sheet
Fiscal years, from Freedom Holding's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $22M | $88M | $88M | $130M | $168M | $225M | $581M | $545M | $837M | $966M |
| Total current assets | $9M | — | — | — | — | — | — | — | — | — |
| Property, plant and equipment | $1M | $2M | $6M | $6M | $16M | $18M | $54M | $83M | $191M | $358M |
| Goodwill | $981,000 | $3M | $3M | $3M | $8M | $6M | $14M | $53M | $49M | $51M |
| Total assets | $120M | $330M | $351M | $454M | $2.1B | $3.2B | $5.1B | $8.3B | $9.9B | $13.2B |
| Total current liabilities | $9M | — | — | — | — | — | — | — | — | — |
| Total liabilities | $77M | $215M | $233M | $324M | $1.8B | $2.7B | $4.3B | $7.1B | $8.7B | $11.7B |
| Shareholders' equity | $44M | $127M | $118M | $129M | $277M | $554M | $777M | $1.2B | $1.2B | $1.5B |
| Net debt | -$22M | -$65M | -$50M | -$63M | -$168M | -$225M | -$581M | -$545M | -$837M | -$966M |
Cash flow
Fiscal years, from Freedom Holding's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$369,141 | -$19M | $58M | $83M | $529M | -$406M | -$952M | -$1.1B | $1.7B | $185M |
| Capital spending | $0 | $2M | $5M | $2M | $2M | $6M | $39M | $37M | $81M | $199M |
| Free cash flow | -$369,141 | -$21M | $53M | $81M | $528M | -$412M | -$990M | -$1.1B | $1.6B | -$14M |
| Stock-based compensation | — | $2M | $3M | $423,000 | $114,000 | $8M | $9M | $23M | $60M | $68M |
| Net borrowing | — | — | — | $27M | $4M | $13M | $46M | $206M | $202M | $784M |
| Free cash flow margin | — | -38.3% | 72.0% | 96.7% | 152.2% | -59.7% | — | -5103.3% | 3990.2% | -13.9% |
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Open FRHC in InvestinglyQuestions
What was Freedom Holding's revenue in 2026?
$97M in fiscal 2026, from its 10-K filing.
How much free cash flow does Freedom Holding generate?
-$14M in fiscal 2026 (operating cash flow minus capital spending).
From Freedom Holding's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.