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Freedom Holding FRHC Brokerage — Allowance for expected credit losses

Other segment segments

Bank
$24.48M+36.1%
Insurance
$4.29M+708%
Other
$549K+50.8%

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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$9.52B-18.2%
Enterprise value$8.6B-14.1%
P/E62.1×
P/S4.3×-1.2×

Profitability

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Gross margin96.4%-2.1pp
Operating margin-28%
Net margin7%
FCF margin-0.6%

Returns & leverage

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Return on equity11.3%
Debt / equity0.0×
Current ratio

Where this comes from

Reported directly by Freedom Holding in its filing.

Tagged under the XBRL concept frhc:AllowanceForExpectedCreditLossesRecoveries.

The source filing: Freedom Holding’s 10-Q, filed February 9, 2026.

Filed
Feb 9, 2026, 4:25 PM EST
Fiscal quarter
Q3 FY2026
Calendar quarter
Q4 2025
Accession
0000924805-26-000006
STATEMENT OF OPERATIONSBrokerageBankingInsuranceOtherTotal
Stock compensation expense5,5763,3127115,75315,352
Advertising and sponsorship expense10,92536050624,83736,628
General and administrative expense14,42319,9432,34434,70671,416
(Recovery of)/allowance for expected credit losses(231)9985,0265496,342
Cost of sales25,34825,348
TOTAL EXPENSE106,872145,059108,882173,863534,676
INCOME/(LOSS) BEFORE INCOME TAX$102,731$90,479$20,992$(120,257)$93,945
Income tax (expense)/benefit(21,708)(10,927)2,63612,289(17,710)

Item 1. Unaudited Condensed Consolidated Financial Statements

FAQ

What is Freedom Holding's brokerage — allowance for expected credit losses?
Freedom Holding (FRHC) reported brokerage — allowance for expected credit losses of -$231K in Q4 2025.
How has Freedom Holding's brokerage — allowance for expected credit losses changed year-over-year?
Freedom Holding's brokerage — allowance for expected credit losses decreased by 116.6% year-over-year, from $1.39M to -$231K.
What is the long-term trend for Freedom Holding's brokerage — allowance for expected credit losses?
Over 2 years (2022 to 2025), Freedom Holding's brokerage — allowance for expected credit losses has grown at a 736.3% compound annual growth rate (CAGR), from $89K to $6.22M.
What does brokerage — allowance for expected credit losses mean?
The estimated provision for potential losses on receivables or financial assets within the brokerage segment. This reflects management's assessment of credit risk and the likelihood that certain financial obligations will not be met by counterparties.

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