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Freedom Holding FRHC Insurance — Net income before income tax

Other segment segments

Brokerage
$110.65M+51.3%
Other
-$90.07M-45.9%
Bank
$16.99M+111%

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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 us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest.

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
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)
NET INCOME/(LOSS)$81,023$79,552$23,628$(107,968)$76,235

Item 1. Unaudited Condensed Consolidated Financial Statements

FAQ

What is Freedom Holding's insurance — net income before income tax?
Freedom Holding (FRHC) reported insurance — net income before income tax of $20.99M in Q4 2025.
How has Freedom Holding's insurance — net income before income tax changed year-over-year?
Freedom Holding's insurance — net income before income tax increased by 1246.5% year-over-year, from -$1.83M to $20.99M.
What is the long-term trend for Freedom Holding's insurance — net income before income tax?
Over 2 years (2022 to 2024), Freedom Holding's insurance — net income before income tax has grown at a 118.1% compound annual growth rate (CAGR), from $9.68M to $46.04M.
What does insurance — net income before income tax mean?
The profit generated by the insurance segment after all operating and non-operating expenses are deducted, but before the impact of income taxes. This metric isolates the operational profitability of the insurance business from tax jurisdiction effects.

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