Freedom Holding Corp. (FRHC)

Security Brokers, Dealers & Flotation Companies

Latest Price

$155.13

TTM P/E

61.80

Normalized P/E

44.77

Div Yield

Book Value

23.28

P/B Ratio

6.66

Valuation metrics

EPS: $2.51

Book value / share: $24.30

Formula: √(22.5 × EPS × BVPS)

Graham Number

$37.04

76% downside

Norm. op. income: $226M (median of 7yr)

Tax rate: 18%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$45.94

70% downside

Base FCF: $1.6B (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$1,941.19

+1183% upside

EPS: $2.51

Target P/E: 44×

Formula: EPS × P/E

P/E Fair Value

$110.44

27% downside

3.5% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	602.6K	$87.0M	0.98%	+32.1K	2026-03-31
STATE STREET CORP	219.0K	$31.0M	0.36%	+5.7K	2026-03-31
GEODE CAPITAL MANAGEMENT, LLC	169.1K	$24.0M	0.28%	+1.3K	2026-03-31
MORGAN STANLEY	117.6K	$17.0M	0.19%	-6.7K	2026-03-31
AQR CAPITAL MANAGEMENT LLC	109.6K	$15.0M	0.18%	+37.7K	2026-03-31
MILLENNIUM MANAGEMENT LLC	60.0K	$8.0M	0.10%	+9.1K	2026-03-31
NORTHERN TRUST CORP	53.3K	$7.0M	0.09%	+5.6K	2026-03-31
CITADEL ADVISORS LLC	52.7K	$7.0M	0.09%	-17.6K	2026-03-31
UBS Group AG	50.5K	$7.0M	0.08%	+22.7K	2026-03-31
Bank of New York Mellon Corp	46.3K	$6.0M	0.08%	-210	2026-03-31