What is Freedom Holding's free cash flow margin?

Freedom Holding (FRHC) reported free cash flow margin of -0.6% in Q1 2026.

What does free cash flow margin mean?

How much real, spendable cash each sales dollar generates after reinvestment.

How do you interpret free cash flow margin?

A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.

How does free cash flow margin compare across companies?

Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.

Freedom Holding FRHC Free cash flow margin

Free cash flow margin at other companies

Interactive Brokers Group, Inc.IBKR

260%+83.0pp

Fidelity National Information ServicesFIS

23.6%+0.8pp

StoneX Group Inc.SNEX

246.8%—

Nasdaq, Inc.NDAQ

24.1%+0.4pp

Intercontinental ExchangeICE

35.7%+1.8pp

Cullen/Frost BankersCFR

3.5%—

Other financials

Income statement

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Revenue$503.1M+68.6%

Gross profit$477.9M+67.1%

Net income$8.0M—

EPS (diluted)$0.13—

Balance sheet

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Cash & equivalents$966.1M-41.3%

Total debt$48.8M+20.5%

Total equity$1.5B+21.6%

Total assets$13.2B+32.7%

Cash flow

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Operating cash flow$717.8M—

CapEx$23.0M-15.8%

Free cash flow-$1.6B-220%

Valuation

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Market cap$8.81B+10.6%

Enterprise value$7.89B+24.0%

P/E57.4×—

P/S4×0.0×

Profitability

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Gross margin96.4%-2.1pp

Operating margin-28%—

Net margin7%—

Returns & leverage

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Return on equity11.3%—

Debt / equity0×0.0×

Current ratio1×—

Where this comes from

Calculated from Freedom Holding’s reported figures.

free cash flow/total revenue=-0.6%

Based on trailing twelve months.

The official record: Freedom Holding’s 10-K, filed June 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Freedom Holding's free cash flow margin?: Freedom Holding (FRHC) reported free cash flow margin of -0.6% in Q1 2026.
What does free cash flow margin mean?: How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?: A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?: Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.