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Upturn AI Summary - About
Freedom Holding Corp(FRHC)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for FRHC
11/06/2026: FRHC (3-star) is a STRONG-BUY. BUY for 55 days. Simulated Profits (4.80%). Updated daily EoD!
Freedom Holding Corp. is an international, U.S.-listed diversified financial services company that operates primarily in Central Asia and Europe through an integrated digital ecosystem. The company is known for its rapidly growing brokerage, banking, and insurance services, all unified by its popular Freedom SuperApp. Its main growth story is the scaling of this digital platform into new international markets, such as Turkey. However, the company faces significant risks related to regional geopolitical instability, regulatory oversight, and intense competition from financial incumbents. The stock is a growth-oriented play that suits investors comfortable with high volatility and emerging market exposure, while income-focused investors may find the lack of dividends unappealing.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Strong fit | The company is in an aggressive expansion phase with high revenue growth and ecosystem scaling. |
| Momentum investor | Strong fit while signal remains positive | The stock has historically shown high volatility and significant price appreciation, attracting momentum-based interest. |
| Value investor | Mixed fit | Valuation can be complex due to the company's hybrid status as a high-growth fintech/financial conglomerate. |
| Dividend investor | Weak fit | The company currently reinvests all profits into growth and does not provide dividend income. |
| Low-risk investor | Weak fit | Exposure to emerging markets, regulatory uncertainty, and high volatility makes it unsuitable for low-risk portfolios. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | The stock is subject to significant market swings common to high-growth, emerging-market-focused financial firms. |
| Valuation risk | Medium / high | Trading at high multiples relative to standard financial peers requires sustained high growth to justify the premium. |
| Competition risk (Fintech/Banks) | Medium | Competition from well-capitalized local incumbents and global digital platforms may pressure margins. |
| Business quality | Medium | While the ecosystem is innovative, the company's reliance on trading gains and complex cross-border operations introduces inherent quality risks. |
| Dividend income | Low / none | The company provides zero yield, making it poor for income-focused investors. |
| Execution risk | High | Scaling an ecosystem into new markets like Turkey and Europe entails high operational and integration challenges. |
Price Behavior
Strong Uptrend
The stock has maintained a strong upward price trend across the last three quarters.
Moderately Choppy
The stock has experienced noticeable price swings while retaining some directional structure.
Analysis of Past Performance
Type Stock | Historic Profit 72.85% | Avg. Invested days 59 | Today’s Advisory Strong Buy |
Upturn Advisory Rating  | Upturn Advisory Performance  4.0 | Stock Returns Performance  4.0 |
| Profits based on simulation | Last Close 11/06/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 11.41B USD | Price to earnings Ratio 70.97 | 1Y Target Price 76 |
Price to earnings Ratio 70.97 | 1Y Target Price 76 | ||
Volume (30-day avg) 106.4K shares | Beta 0.68 | 52 Weeks Range 107.97 - 190.60 | Updated Date 11/08/2026 |
52 Weeks Range 107.97 - 190.60 | Updated Date 11/08/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 2.52 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Brokerage | Commissions, margin financing, and fee income from retail/institutional trading. | Earns fees from customer trading activities. |
| Banking | Net interest income from loans and deposits in Kazakhstan and Tajikistan. | Banks earn by lending money at higher rates than they pay on deposits. |
| Insurance | Life and non-life insurance premiums. | Collects premiums for insurance policies, expecting to pay less in claims. |
| Geography: Kazakhstan | Primary revenue hub for banking, brokerage, and lifestyle services. | The company's core profits depend heavily on its performance in Kazakhstan. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2026-11-06 | When Before Market | Estimate - | Actual 0.63 |
Profitability
Profit Margin 8.43% | Operating Margin (TTM) 5.01% |
Management Effectiveness
Return on Assets (TTM) 1.24% | Return on Equity (TTM) 10.68% |
Valuation
Trailing PE 70.97 | Forward PE 12.29 | Enterprise Value 9.16B | Price to Sales(TTM) 6.51 |
Enterprise Value 9.16B | Price to Sales(TTM) 6.51 | ||
Enterprise Value to Revenue 3.86 | Enterprise Value to EBITDA 11.29 | Shares Outstanding 63.79M | Shares Floating 20.88M |
Shares Outstanding 63.79M | Shares Floating 20.88M | ||
Percent Insiders 67.8 | Percent Institutions 3.55 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
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