Freedom Holding Corp.
FRHC · Security Brokers, Dealers & Flotation Companies · 61.3M shares · +0%/yr ↑ shares · EDGAR filings ↗
Reference price $140.82 · est. market cap ~$8.6B — last insider sale, 2026-06-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C64Freedom Holding — fast-growing Central Asian broker with governance concerns.
Strengths
- Net income +101% (82nd pct); high gross margin (95th)
- Very long cash runway
Risks
- Negative free cash flow (8th pct)
- Kazakhstan/regulatory, related-party and disclosure concerns
Notable findings
- Cash burnNegative free cash flow (-13.5M)
- Customer concentration~37% of revenue from one customer/distributor — Interest income The following table sets forth information regarding our interest income for the fiscal years presented: Year ended March, 31 2026 2025 Amount Change % Change Interest income
- Strong balance sheetStrong balance sheet — $966M cash & investments, ~285 quarters of runway
- Insider buyingInsider buying — 2 open-market buy(s) by 1 insider(s) (~$2M, last 6mo) Form 4 ↗
- Revenue declineRevenue -20.0% YoY
- Insider sellingInsider selling — 11 open-market sale(s) by 3 insider(s) (cluster of 3 insiders, ~$3M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
96.4%
Net margin
7.0%
Return on equity
10.3%
Return on assets
1.2%
Revenue growth (QoQ)
-20.0%
Net-income growth
101.0%
Free cash flow
-$14M
Tangible book value
$1.4B
Cash & investments
$966M
Cash runway
285q
Stock comp / revenue
3.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-22 | Tukanov Renat | Sell | 1.8K | $140.82 |
| 2026-06-22 | Gamble Andrew | Sell | 357 | $141.04 |
| 2026-06-11 | Williams Amber | Grant | 677 | — |
| 2026-06-11 | Gamble Andrew | Grant | 677 | — |
| 2026-06-11 | Vogeleer Philippe J.R. | Grant | 677 | — |
| 2026-06-04 | Yerdessov Azamat | Sell | 2.4K | $156.03 |
| 2026-06-04 | Yerdessov Azamat | Sell | 2.0K | $157.00 |
| 2026-06-04 | Yerdessov Azamat | Sell | 893 | $158.76 |
| 2026-06-04 | Yerdessov Azamat | Sell | 3.5K | $159.09 |
| 2026-06-04 | Yerdessov Azamat | Sell | 306 | $151.58 |
| 2026-06-04 | Yerdessov Azamat | Sell | 3.7K | $152.01 |
| 2026-06-04 | Yerdessov Azamat | Sell | 2.0K | $153.00 |
| 2026-06-04 | Yerdessov Azamat | Sell | 2.0K | $155.00 |
| 2026-05-29 | Yerdessov Azamat | Grant | 84K | — |
| 2026-02-25 | Lukyanov Sergey | Buy | 12K | $120.42 |
| 2026-02-24 | Lukyanov Sergey | Buy | 8.0K | $120.66 |
| 2026-02-12 | Gamble Andrew | Sell | 400 | $119.39 |
| 2026-02-11 | Tukanov Renat | Grant | 9.0K | — |
| 2025-09-15 | Vogeleer Philippe J.R. | Grant | 626 | — |
| 2025-09-15 | Gamble Andrew | Grant | 757 | — |
| 2025-09-15 | Vogeleer Philippe J.R. | Grant | 757 | — |
| 2025-09-15 | Williams Amber | Grant | 757 | — |
| 2025-09-15 | Gamble Andrew | Grant | 626 | — |
| 2025-09-15 | Williams Amber | Grant | 626 | — |
| 2025-08-29 | Tukanov Renat | Sell | 1 | $174.50 |
| 2025-08-29 | Lukyanov Sergey | Buy | 5.7K | $171.67 |
| 2025-08-29 | Tukanov Renat | Sell | 3.0K | $173.25 |
| 2025-08-27 | Yerdessov Azamat | Sell | 2.0K | $177.00 |
| 2025-07-24 | Kerr Jason M | Grant | 3.3K | — |
| 2025-07-09 | Tashtitov Askar | Grant | 5.7K | — |
| 2025-07-09 | Ler Evgeny | Grant | 5.2K | — |
| 2025-07-01 | Lukyanov Sergey | Buy | 3.1K | $146.64 |
| 2025-06-30 | Lukyanov Sergey | Buy | 3.8K | $144.05 |
| 2025-06-20 | Tashtitov Askar | Buy | 600 | $140.75 |
| 2025-04-11 | Yerdessov Azamat | Grant | 74K | — |
| 2025-03-04 | Tukanov Renat | Sell | 3.0K | $143.00 |
| 2025-03-04 | Tukanov Renat | Sell | 8 | $146.03 |
| 2025-02-28 | Zhumagulov Aidos | Sell | 6.0K | $145.00 |
| 2025-02-27 | Zhumagulov Aidos | Sell | 927 | $150.00 |
| 2025-02-25 | Lukyanov Sergey | Sell | 1.0K | $144.00 |
| 2025-02-19 | Wotczak Robert | Sell | 8.0K | $156.73 |
| 2025-02-19 | Ler Evgeny | Sell | 4.9K | $155.23 |
| 2025-02-19 | Ler Evgeny | Sell | 4.9K | $15,523.00 |
| 2025-02-19 | Lukyanov Sergey | Sell | 2.0K | $157.00 |
| 2025-02-19 | Wotczak Robert | Sell | 1.0K | $155.23 |
| 2025-02-18 | Wotczak Robert | Sell | 3.0K | $157.52 |
| 2025-02-18 | Ler Evgeny | Sell | 6.9K | $157.04 |
| 2025-02-18 | Ler Evgeny | Sell | 2.3K | $158.18 |
| 2025-02-18 | Ler Evgeny | Sell | 2.9K | $159.09 |
| 2025-02-18 | Wotczak Robert | Sell | 1.0K | $158.98 |
| 2025-02-18 | Ler Evgeny | Sell | 3.0K | $155.86 |
| 2025-02-18 | Lukyanov Sergey | Sell | 2.0K | $160.53 |
| 2025-02-18 | Ler Evgeny | Sell | 3.0K | $155.86 |
| 2025-02-18 | Wotczak Robert | Sell | 7.0K | $156.30 |
| 2025-02-18 | Ler Evgeny | Sell | 6.9K | $157.04 |
| 2025-02-18 | Ler Evgeny | Sell | 2.3K | $158.18 |
| 2025-02-18 | Ler Evgeny | Sell | 2.9K | $159.09 |
| 2025-02-14 | Lukyanov Sergey | Sell | 2.9K | $160.29 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-12 | 2026-06-12 | 0000924805-26-000015 ↗ |
| 10-K | 2026-06-01 | 2026-03-31 | 0000924805-26-000012 ↗ |
| 8-K | 2026-04-09 | 2026-04-09 | 0000924805-26-000009 ↗ |
| 10-Q | 2026-02-09 | 2025-12-31 | 0000924805-26-000006 ↗ |
| 10-Q | 2025-11-07 | 2025-09-30 | 0000924805-25-000041 ↗ |
| 8-K | 2025-10-01 | 2025-09-29 | 0000924805-25-000038 ↗ |
| 10-Q | 2025-08-08 | 2025-06-30 | 0000924805-25-000031 ↗ |
| 10-K | 2025-06-13 | 2025-03-31 | 0000924805-25-000012 ↗ |
| 10-Q | 2025-02-07 | 2024-12-31 | 0000924805-25-000002 ↗ |
| 10-Q | 2024-11-08 | 2024-09-30 | 0000924805-24-000068 ↗ |
| 8-K | 2024-09-23 | 2024-09-20 | 0000924805-24-000062 ↗ |
| 10-Q | 2024-08-09 | 2024-06-30 | 0000924805-24-000060 ↗ |