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Discontinued — last reported Q4 '26

Net debt at other companies

Cloudflare, Inc. logo
Cloudflare, Inc.NET
-5×-5.4×
Zscaler logo
ZscalerZS
19.2×+12.3×
Citigroup logo
CitigroupC
0.1×-0.3×
Morgan Stanley logo
Morgan StanleyMS
-0.2×
Wells Fargo & Company logo
Wells Fargo & CompanyWFC
0.6×-1.3×
American Express logo
American ExpressAXP
0.3×+0.3×

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

Calculated from Freedom Holding’s reported figures.

The source filing: Freedom Holding’s 10-K, filed June 1, 2026. Open the filing →

Filed
Jun 1, 2026, 4:21 PM EDT
Fiscal year
FY2026
Accession
0000924805-26-000012

FAQ

What is Freedom Holding's net debt?
Freedom Holding (FRHC) reported net debt of -$917.27M in Q1 2026.
How has Freedom Holding's net debt changed year-over-year?
Freedom Holding's net debt increased by 42.8% year-over-year, from -$1.6B to -$917.27M.
What is the long-term trend for Freedom Holding's net debt?
Over 5 years (2021 to 2026), Freedom Holding's net debt has grown at a 6.1% compound annual growth rate (CAGR), from -$680.77M to -$917.27M.
What does net debt mean?
Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

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