What is Freedom Holding's return on invested capital?

Freedom Holding (FRHC) reported return on invested capital of 703% in Q4 2023.

What does return on invested capital mean?

Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

Freedom Holding FRHC Return on invested capital

Return on invested capital at other companies

Fidelity National Information ServicesFIS

4.6%-0.3pp

Nasdaq, Inc.NDAQ

10.6%+1.4pp

Intercontinental ExchangeICE

8.5%+1.4pp

Charles Schwab CorporationSCHW

107%-70.0pp

Broadridge Financial SolutionsBR

20.7%+1.8pp

LPL Financial HoldingsLPLA

14.8%-12.0pp

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%—

FCF margin-0.6%—

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.

nopat/invested capital=703%

Based on trailing twelve months.

The official record: Freedom Holding’s 10-Q, filed February 7, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Freedom Holding's return on invested capital?: Freedom Holding (FRHC) reported return on invested capital of 703% in Q4 2023.
What does return on invested capital mean?: Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.