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Freedom (FRHC) Financials

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$164.54 +1.10 (+0.67%)
As of 09/4/2026 04:00 PM Eastern
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Annual Income Statements for Freedom

Annual Income Statements for Freedom

This table shows Freedom's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 3/31/2016 3/31/2017 3/31/2018 3/31/2019 3/31/2020 3/31/2021 3/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -0.49 0.00 0.00 -9.53 25 150 227 205 379 76 153
Consolidated Net Income / (Loss)		 -0.49 0.00 0.00 7.15 22 150 221 206 379 76 153
Net Income / (Loss) Continuing Operations		 -0.49 0.00 0.00 7.15 24 128 325 193 379 76 153
Total Pre-Tax Income 		-0.49 0.00 0.00 8.52 29 152 364 236 439 105 226
Total Operating Income		 -0.49 0.00 0.00 66 39 151 364 236 439 105 226
Total Gross Profit		 0.00 0.00 0.00 74 83 346 687 770 1,630 1,973 2,059
Total Revenue		 0.00 0.00 0.00 74 83 346 690 799 1,647 2,004 2,191
Operating Revenue		 0.00 0.00 0.00 74 83 346 690 812 1,751 1,992 2,057
Other Revenue		 - 0.00 0.00 0.00 0.00 - - -13 -104 12 134
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 2.50 29 18 31 132
Operating Cost of Revenue		 - - - - - - - 0.00 18 31 80
Other Cost of Revenue		 - - - - - - 2.50 29 - - 52
Total Operating Expenses		 0.49 0.00 0.00 7.99 44 195 324 534 1,191 1,868 1,833
Selling, General & Admin Expense		 0.49 0.00 0.00 0.24 45 86 122 143 310 538 487
Marketing Expense		 - - - - - 6.97 12 14 38 125 103
Other Operating Expenses / (Income)		 - 0.00 0.00 6.25 0.26 100 190 377 843 1,206 1,243
Total Other Income / (Expense), net		 0.00 0.00 0.00 -58 -10 0.56 0.00 0.00 0.00 0.00 -0.88
Other Income / (Expense), net		 - - - -43 - 0.56 - - - - -0.88
Income Tax Expense		 -0.00 0.00 0.00 1.37 4.93 23 39 43 60 28 73
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - 0.00 -2.71 0.63 -6.57 0.45 -0.59 -0.13 0.00
Basic Earnings per Share		 - - - - $0.43 $2.56 $3.84 $3.50 $6.43 $1.28 $2.56
Weighted Average Basic Shares Outstanding		 244.21M 0.00 0.00 58.04M 58.16M 58.39M 59.38M 58.63M 58.96M 59.39M 59.99M
Diluted Earnings per Share		 - - - - $0.43 $2.56 $3.84 $3.45 $6.39 $1.26 $2.51
Weighted Average Diluted Shares Outstanding		 244.21M 0.00 0.00 58.24M 58.25M 58.44M 59.38M 59.50M 59.36M 60.49M 61.12M
Weighted Average Basic & Diluted Shares Outstanding		 244.21M 280.34M - 58.09M - 59.47M 59.54M - 60.63M 61.21M 61.29M

Quarterly Income Statements for Freedom

This table shows Freedom's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026 Q1 2027
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 96 95 34 115 78 -143 37 39 76 7.98 32
Consolidated Net Income / (Loss)		 96 95 34 114 78 -142 37 39 76 7.98 32
Net Income / (Loss) Continuing Operations		 96 95 34 114 78 -142 37 39 76 7.98 32
Total Pre-Tax Income 		112 104 42 128 98 -155 47 60 94 31 41
Total Operating Income		 284 -126 42 320 330 -767 47 243 254 -311 41
Total Gross Profit		 422 725 452 570 621 317 497 499 551 494 668
Total Revenue		 419 732 455 586 661 372 524 526 583 549 733
Operating Revenue		 461 660 455 586 649 320 515 526 556 441 721
Total Cost of Revenue		 -3.53 6.90 2.51 16 40 54 19 27 32 54 53
Operating Cost of Revenue		 - - 4.28 5.24 9.39 - 14 15 25 25 35
Other Cost of Revenue		 -3.53 - -1.77 10 31 23 4.82 12 6.34 29 18
Total Operating Expenses		 138 852 411 251 291 1,085 449 256 297 806 627
Selling, General & Admin Expense		 81 127 128 140 159 74 139 120 121 106 117
Marketing Expense		 11 11 22 32 41 66 24 28 37 15 36
Other Operating Expenses / (Income)		 46 - 261 78 91 945 285 109 139 685 474
Total Other Income / (Expense), net		 -172 231 0.00 -191 -232 612 0.00 -182 -160 341 0.00
Income Tax Expense		 16 9.01 7.34 14 20 -13 10 22 18 23 9.17
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.29 0.25 -0.14 -0.17 -0.14 0.33 0.00 0.00 0.00 - 0.00
Basic Earnings per Share		 $1.65 $1.59 $0.58 $1.93 $1.32 ($2.40) $0.62 $0.65 $1.27 $0.13 $0.52
Weighted Average Basic Shares Outstanding		 58.58M 58.96M 59.26M 59.36M 59.37M 59.39M 59.85M 59.95M 59.96M 59.99M 60.42M
Diluted Earnings per Share		 $1.63 $1.60 $0.57 $1.89 $1.29 ($2.35) $0.61 $0.63 $1.25 $0.13 $0.52
Weighted Average Diluted Shares Outstanding		 59.29M 59.36M 60.26M 60.46M 60.55M 60.49M 61.06M 61.12M 61.11M 61.12M 61.27M
Weighted Average Basic & Diluted Shares Outstanding		 59.66M 60.63M 60.75M 60.61M 60.62M 61.21M 61.22M 61.16M 61.19M 61.29M 63.79M

Annual Cash Flow Statements for Freedom

This table details how cash moves in and out of Freedom's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 3/31/2016 3/31/2017 3/31/2018 3/31/2019 3/31/2020 3/31/2021 3/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
Net Change in Cash & Equivalents		 8.23 16 0.00 0.73 121 1,022 11 -282 -28 774 328
Net Cash From Operating Activities		 -0.54 4.95 0.00 58 83 529 -406 -952 -1,064 1,681 185
Net Cash From Continuing Operating Activities		 -0.44 4.80 0.00 58 48 182 -294 -928 -1,064 1,681 185
Net Income / (Loss) Continuing Operations		 -0.49 6.30 0.00 7.15 24 128 325 193 379 76 153
Consolidated Net Income / (Loss)		 -0.49 6.30 0.00 7.15 22 150 221 206 379 76 153
Net Income / (Loss) Discontinued Operations		 - - - - -2.03 22 -104 12 0.00 0.00 0.00
Depreciation Expense		 0.00 0.20 0.00 2.03 1.11 2.69 3.42 5.14 15 17 35
Amortization Expense		 - - - - - - 7.86 8.45 50 210 128
Non-Cash Adjustments To Reconcile Net Income		 - 31 0.00 15 15 57 69 -54 28 409 229
Changes in Operating Assets and Liabilities, net		 -0.05 -33 0.00 34 8.46 -5.62 -699 -1,081 -1,535 969 -359
Net Cash From Investing Activities		 8.59 -2.85 0.00 -6.73 -20 6.35 -146 -1,463 -638 -905 -1,049
Net Cash From Continuing Investing Activities		 8.59 -2.70 0.00 -6.73 -16 8.58 -142 -834 -638 -905 -1,049
Purchase of Property, Plant & Equipment		 - -0.11 0.00 -4.99 -2.00 -1.52 -5.62 -39 -37 -81 -199
Acquisitions		 - -2.77 - - 0.00 150 0.00 -62 -63 -40 -47
Purchase of Investments		 - - - - - -274 -249 -330 -230 -525 -776
Divestitures		 8.59 0.00 0.00 - - 0.00 0.00 52 0.00 2.00 2.45
Sale and/or Maturity of Investments		 - - - - -6.51 190 199 261 260 174 382
Other Investing Activities, net		 - 0.00 0.00 -2.01 -7.80 -57 -86 -715 -569 -436 -412
Net Cash From Financing Activities		 0.18 12 0.00 -42 58 493 619 2,133 1,675 -1.58 1,192
Net Cash From Continuing Financing Activities		 0.18 12 0.00 -42 -0.79 392 579 2,088 1,675 -1.58 1,192
Repayment of Debt		 - -0.00 0.00 -8.02 -4.01 0.00 -0.15 -15 -42 -55 -60
Repurchase of Common Equity		 - - - - - - - 637 1,191 -1,061 -432
Issuance of Debt		 - 8.61 0.00 34 27 3.63 13 46 206 202 784
Other Financing Activities, net		 0.18 8.68 0.00 5.85 0.00 12 149 1,442 319 913 900

Quarterly Cash Flow Statements for Freedom

This table details how cash moves in and out of Freedom's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026 Q1 2027
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 96 65 890 -433 -145 325 24 279 1,564 -1,540 612
Net Cash From Operating Activities		 -22 309 854 -438 -73 1,338 481 535 718 -1,549 -342
Net Cash From Continuing Operating Activities		 -22 309 858 -438 -73 1,338 481 534 718 -1,549 -342
Net Income / (Loss) Continuing Operations		 96 95 34 114 78 -142 37 39 76 7.98 32
Consolidated Net Income / (Loss)		 96 95 34 114 78 -142 37 39 76 7.98 32
Depreciation Expense		 4.48 3.51 4.15 3.91 4.65 4.45 6.11 6.27 8.32 14 9.88
Amortization Expense		 54 -16 48 59 58 44 70 -2.62 10 50 2.26
Non-Cash Adjustments To Reconcile Net Income		 18 -64 80 -7.21 -151 221 -5.43 25 10 196 75
Changes in Operating Assets and Liabilities, net		 -194 290 692 -608 -63 1,210 373 466 613 -1,817 -461
Net Cash From Investing Activities		 -143 -45 -95 -129 -429 -253 -506 -179 -256 -108 -275
Net Cash From Continuing Investing Activities		 -140 -45 -95 -129 -429 -253 -506 -179 -256 -108 -275
Purchase of Property, Plant & Equipment		 -17 -7.48 -24 -9.46 -20 -42 -26 -79 -66 -23 -79
Acquisitions		 -38 -6.36 -12 1.65 -15 -16 -15 -2.97 -18 -24 -18
Purchase of Investments		 -36 -60 -104 -41 -247 -133 -280 -200 -193 -104 -218
Sale and/or Maturity of Investments		 37 49 48 22 88 16 14 201 110 59 21
Other Investing Activities, net		 -87 -18 -2.59 -104 -236 -79 -206 -101 -89 -17 20
Net Cash From Financing Activities		 208 -218 246 125 463 -835 123 96 784 188 1,217
Net Cash From Continuing Financing Activities		 208 -218 246 125 463 -835 123 96 784 188 1,217
Repayment of Debt		 -11 -11 -13 -14 -14 -14 - -14 -18 -15 -16
Repurchase of Preferred Equity		 2.64 1,191 -0.03 85 -187 157 -308 - - - 233
Issuance of Debt		 201 -0.03 0.00 - 202 2.48 199 71 329 184 210
Issuance of Common Equity		 - -1,371 - - - - 0.00 - - - 300
Other Financing Activities, net		 16 -27 313 53 463 -981 232 251 300 103 490
Effect of Exchange Rate Changes		 53 19 -115 8.79 -106 - - -173 319 - 12

Annual Balance Sheets for Freedom

This table presents Freedom's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 3/31/2016 3/31/2017 3/31/2018 3/31/2019 3/31/2020 3/31/2021 3/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
Total Assets		 8.69 121 351 351 454 2,100 3,230 5,085 8,302 9,915 13,155
Total Current Assets		 8.68 105 279 50 243 966 373 1,197 2,205 4,156 5,657
Cash & Equivalents		 0.10 23 66 50 63 168 225 581 545 837 966
Accounts Receivable		 - 0.48 - - 114 50 148 376 1,660 3,319 4,691
Plant, Property, & Equipment, net		 0.00 1.10 2.41 0.00 6.38 16 18 54 83 191 358
Total Noncurrent Assets		 0.01 16 70 301 204 1,119 1,183 3,834 6,014 5,568 7,140
Long-Term Investments		 - - - - - - 0.00 826 5,287 4,410 5,420
Goodwill		 - 0.98 3.29 2.94 2.61 7.14 5.90 14 53 49 51
Intangible Assets		 - - 5.69 4.23 3.42 3.90 5.16 18 48 54 73
Other Noncurrent Operating Assets		 0.01 14 35 293 197 1,108 1,172 2,976 626 1,054 1,595
Total Liabilities & Shareholders' Equity		 8.69 121 351 351 454 2,100 3,230 5,085 8,302 9,915 13,155
Total Liabilities		 8.58 77 224 233 324 1,825 2,684 4,314 7,135 8,691 11,666
Total Current Liabilities		 8.58 9.22 9.01 33 9.81 36 15 4.55 33 29 44
Current Deferred & Payable Income Tax Liabilities		 0.00 0.15 0.00 0.75 1.41 14 15 4.55 33 29 44
Total Noncurrent Liabilities		 0.00 68 215 200 315 1,788 1,815 4,309 7,102 8,662 11,622
Long-Term Debt		 - 0.00 7.14 4.01 0.00 35 34 60 267 470 1,261
Other Noncurrent Operating Liabilities		 - 68 208 196 315 1,073 1,781 4,249 6,835 8,192 10,361
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 0.11 44 127 118 129 276 547 771 1,167 1,225 1,489
Total Preferred & Common Equity		 0.11 44 127 118 131 277 554 777 1,164 1,224 1,489
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 0.11 44 127 118 131 277 554 777 1,164 1,224 1,489
Common Stock		 0.74 35 100 99 103 105 175 164 184 247 315
Retained Earnings		 -0.63 16 34 41 66 209 442 647 999 1,078 1,232
Accumulated Other Comprehensive Income / (Loss)		 - -6.94 -7.56 -23 -38 -36 -63 -34 -19 -100 -57
Noncontrolling Interest		 - - - 0.00 -2.27 -1.64 -7.00 -6.55 3.31 0.12 0.00

Quarterly Balance Sheets for Freedom

This table presents Freedom's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026 Q1 2027
Period end date 12/31/2022 6/30/2023 9/30/2023 12/31/2023 6/30/2024 9/30/2024 12/31/2024 6/30/2025 9/30/2025 12/31/2025 6/30/2026
Total Assets		 5,368 6,540 7,138 7,449 8,484 8,816 9,135 9,690 10,350 12,377 14,047
Total Current Assets		 1,518 6,269 6,849 1,523 2,199 2,478 3,034 3,465 4,164 3,880 5,348
Cash & Equivalents		 664 597 464 562 719 569 578 568 636 869 1,351
Accounts Receivable		 404 521 1,025 961 1,218 1,624 2,038 2,897 3,528 3,011 3,997
Plant, Property, & Equipment, net		 44 64 66 78 100 142 159 213 264 329 372
Total Noncurrent Assets		 3,807 207 223 5,848 6,184 6,196 5,941 6,012 5,922 8,168 8,327
Long-Term Investments		 - - - 1,346 1,315 1,369 1,454 4,546 2,511 5,112 6,219
Goodwill		 9.46 51 52 52 51 53 48 48 46 49 53
Intangible Assets		 9.01 42 44 47 46 46 44 54 56 66 86
Other Noncurrent Operating Assets		 2,827 114 127 4,403 4,773 4,728 4,394 1,364 3,308 2,941 1,969
Total Liabilities & Shareholders' Equity		 5,368 6,540 7,138 7,449 8,484 8,816 9,135 9,690 10,350 12,377 14,047
Total Liabilities		 4,686 5,714 6,224 6,410 7,331 7,553 7,872 8,461 9,129 10,982 12,512
Total Current Liabilities		 142 2,978 2,628 28 40 28 48 39 51 50 63
Current Deferred & Payable Income Tax Liabilities		 0.00 16 23 28 40 28 48 39 51 50 63
Total Noncurrent Liabilities		 4,543 2,736 3,596 6,382 7,291 7,525 7,824 8,422 9,077 10,932 12,449
Long-Term Debt		 - 65 66 266 266 267 469 670 743 1,075 1,471
Other Noncurrent Operating Liabilities		 4,543 2,671 3,530 6,116 7,024 7,258 7,355 7,752 8,335 9,856 10,978
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 682 826 914 1,039 1,152 1,263 1,263 1,229 1,221 1,395 1,535
Total Preferred & Common Equity		 691 822 911 1,036 1,149 1,260 1,260 1,229 1,221 1,395 1,535
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 691 822 911 1,036 1,149 1,260 1,260 1,229 1,221 1,395 1,535
Common Stock		 160 165 166 168 197 209 223 270 285 300 338
Retained Earnings		 592 691 807 904 1,033 1,148 1,226 1,116 1,155 1,231 1,263
Accumulated Other Comprehensive Income / (Loss)		 -61 -34 -63 -35 -81 -97 -189 -157 -219 -136 -66
Noncontrolling Interest		 -8.50 3.46 3.35 3.05 3.17 3.00 2.85 0.00 0.00 0.00 0.00

Annual Metrics And Ratios for Freedom

This table displays calculated financial ratios and metrics derived from Freedom's official financial filings.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 3/31/2016 3/31/2017 3/31/2018 3/31/2019 3/31/2020 3/31/2021 3/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 61,190,535.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 61,190,535.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 2.51
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 57.94% 12.26% 315.29% 99.17% 7.79% 119.91% 23.05% 9.34%
EBITDA Growth		 -510.03% 100.00% 100.00% -3.10% 60.31% 282.45% 142.71% 22.27% 8.97% -31.99% 16.85%
EBIT Growth		 -514.15% 100.00% 100.00% -10.12% 69.62% 286.36% 139.58% 22.32% -2.14% -74.06% 115.22%
NOPAT Growth		 -514.15% 100.00% 100.00% 27.59% -41.37% 292.38% 153.95% -1.11% 16.62% -77.46% 101.33%
Net Income Growth		 -2,518.83% 100.00% 0.00% -62.84% 209.64% 579.08% 47.01% -6.94% 82.38% -77.46% 101.33%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 495.35% 50.00% -10.16% 83.48% -77.88% 99.21%
Operating Cash Flow Growth		 -1,439.84% 0.00% 0.00% 404.70% 41.29% 540.75% -176.76% -134.19% -11.84% 257.94% -88.98%
Free Cash Flow Firm Growth		 194.43% 431.13% 13.79% -234.09% 159.77% -46.33% 1,395.40% -18.10% -61.16% -118.95% 130.70%
Invested Capital Growth		 -20,523.16% -507.03% -99.73% 144.85% -101.07% 9,329.69% -730.63% -82.54% 13.08% 18.97% -2.32%
Revenue Q/Q Growth		 0.00% -100.00% -100.00% 61.12% -24.07% 82.45% 18.44% -7.33% 47.93% -4.33% 10.05%
EBITDA Q/Q Growth		 -105.51% 100.00% -100.00% 2,708.49% -27.44% 30.75% 25.04% 12.33% 6.68% -50.62% 267.50%
EBIT Q/Q Growth		 -105.45% 100.00% -100.00% 1,025.08% -26.17% 29.89% 22.51% 10.21% -4.44% -78.39% 644.84%
NOPAT Q/Q Growth		 -105.45% 100.00% -100.00% 1,536.89% -26.96% 29.54% 23.47% -8.51% -1.03% -81.29% 5,002.14%
Net Income Q/Q Growth		 -169.76% -100.00% -100.00% 5,905.88% -8.99% 64.44% 14.12% -12.94% 11.47% -73.78% 5,029.74%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 59.01% 18.15% -16.46% 11.84% -73.83% 8,266.67%
Operating Cash Flow Q/Q Growth		 -1,439.84% 0.00% 100.00% 50.72% 1.70% -14.41% 42.99% -305.80% 42.75% 157.71% -93.97%
Free Cash Flow Firm Q/Q Growth		 -4.67% 7,475.60% -61.88% -307.98% 194.42% -93.81% 196.55% -67.39% 165.08% -231.82% -91.54%
Invested Capital Q/Q Growth		 2.07% -496.60% 6.32% 166.55% -101.59% 109.28% -220.03% 41.44% -17.75% -395.47% -3.56%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 100.00% 100.00% 100.00% 99.64% 100.00% 98.70% 95.43% 93.98%
EBITDA Margin		 0.00% 0.00% 0.00% 33.92% 48.44% 44.61% 54.36% 61.66% 30.56% 16.57% 17.67%
Operating Margin		 0.00% 0.00% 0.00% 89.25% 47.12% 43.67% 52.73% 52.82% 26.63% 5.51% 10.31%
EBIT Margin		 0.00% 0.00% 0.00% 31.18% 47.12% 43.83% 52.73% 59.83% 26.63% 5.51% 10.27%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 9.62% 26.54% 43.39% 32.03% 27.65% 22.93% 4.12% 7.00%
Tax Burden Percent		 99.95% 0.00% 0.00% 83.93% 76.07% 99.00% 60.75% 87.14% 86.12% 74.83% 67.85%
Interest Burden Percent		 99.68% 0.00% 0.00% 36.76% 74.04% 100.00% 100.00% 53.03% 100.00% 100.00% 100.39%
Effective Tax Rate		 0.00% 0.00% 0.00% 16.07% 16.96% 15.35% 10.61% 18.13% 13.88% 25.17% 32.15%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 92.07% 365.18% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 104.02% 351.88% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% -74.12% -290.92% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -210.92% 0.00% 0.00% 6.14% 17.95% 74.27% 53.74% 31.21% 38.70% 7.10% 11.30%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% -245.30% 0.00% 79.53% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 6.80% 9.77% 11.89% 13.65% 10.70% 6.50% 1.24% 1.95%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 2.10% 5.50% 11.77% 8.29% 4.95% 5.60% 0.93% 1.33%
Return on Common Equity (ROCE)		 -210.92% 0.00% 0.00% 6.14% 18.11% 74.99% 54.30% 31.53% 38.77% 7.09% 11.30%
Return on Equity Simple (ROE_SIMPLE)		 -467.88% 0.00% 0.00% 6.08% 16.85% 54.19% 39.91% 26.45% 32.22% 6.96% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.35 0.00 0.00 56 33 128 325 322 375 85 153
NOPAT Margin		 0.00% 0.00% 0.00% 74.91% 39.13% 36.97% 47.13% 43.24% 22.93% 4.12% 7.00%
Net Nonoperating Expense Percent (NNEP)		 -3.24% 0.00% 0.00% -30.24% -11.95% 13.30% -17.39% -8.99% 0.00% 0.00% 0.00%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - - 5.02% 5.57%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.36% 0.00% 1.30% 4.57% 6.02%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.32% 54.07% 24.86% 17.70% 19.18% 18.93% 26.21% 22.23%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 10.75% 52.88% 56.33% 46.91% 47.18% 72.08% 89.92% 83.66%
Earnings before Interest and Taxes (EBIT)		 -0.49 0.00 0.00 23 39 152 364 445 435 113 225
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.49 0.00 0.00 25 40 154 375 458 500 340 387
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 21.33 0.05 3.10 4.33 6.31 11.25 6.41 5.50 3.61 6.48 5.79
Price to Tangible Book Value (P/TBV)		 21.33 0.05 3.34 4.61 6.61 11.71 6.54 5.74 3.95 7.08 6.32
Price to Revenue (P/Rev)		 0.00 0.00 0.00 6.85 9.93 9.00 5.14 5.75 2.57 3.84 3.94
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 33.36 20.84 15.60 20.86 11.19 92.97 56.26
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 3.00% 4.80% 6.41% 4.79% 8.94% 1.08% 1.78%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 6.46 0.00 42.09 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 6.23 8.35 8.62 4.86 3.61 1.42 1.51 1.60
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 18.38 17.24 19.31 8.93 5.86 4.66 9.10 9.04
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 19.99 17.72 19.65 9.21 6.04 5.35 27.38 15.56
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 8.32 21.34 23.30 10.30 8.35 6.21 36.58 22.84
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 7.92 8.43 5.64 0.00 0.00 0.00 1.84 18.90
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 1.70 0.00 6.63 52.92 3.97 3.89 8.68 0.00 14.85
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.06 0.03 0.00 0.13 0.06 0.08 0.23 0.39 0.85
Long-Term Debt to Equity		 0.00 0.00 0.06 0.03 0.00 0.13 0.06 0.08 0.23 0.39 0.85
Financial Leverage		 -19.37 -2.37 -3.05 -1.38 -0.71 -0.83 -1.46 -1.96 -1.79 -4.34 -3.65
Leverage Ratio		 19.51 2.96 2.76 2.93 3.26 6.31 6.48 6.31 6.91 7.65 8.50
Compound Leverage Factor		 19.45 0.00 0.00 1.08 2.41 6.31 6.48 3.35 6.91 7.65 8.53
Debt to Total Capital		 0.00% 0.00% 5.32% 3.30% 0.00% 11.19% 5.92% 7.23% 18.63% 27.88% 45.85%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 5.32% 3.30% 0.00% 11.19% 5.92% 7.23% 18.63% 27.88% 45.85%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% -1.76% -0.53% -1.20% -0.79% 0.23% 0.01% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 94.68% 96.70% 101.76% 89.34% 95.28% 93.56% 81.14% 72.11% 54.15%
Debt to EBITDA		 0.00 0.00 0.00 0.16 0.00 0.22 0.09 0.13 0.53 1.38 3.26
Net Debt to EBITDA		 0.00 0.00 0.00 -1.82 0.00 -0.86 -0.51 -3.46 -3.76 -14.06 -13.23
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.16 0.00 0.22 0.09 0.13 0.53 1.38 3.26
Debt to NOPAT		 0.00 0.00 0.00 0.07 0.00 0.27 0.11 0.19 0.71 5.56 8.23
Net Debt to NOPAT		 0.00 0.00 0.00 -0.83 0.00 -1.04 -0.59 -4.93 -5.00 -56.53 -33.43
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.07 0.00 0.27 0.11 0.19 0.71 5.56 8.23
Altman Z-Score		 -0.12 1.15 2.11 1.96 2.82 2.10 1.70 1.49 1.24 1.44 1.31
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% -0.92% -0.97% -1.05% -1.03% -0.17% 0.14% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.01 11.35 30.91 1.49 24.83 26.67 25.63 263.21 73.40 143.73 129.45
Quick Ratio		 0.01 11.35 30.91 1.49 18.04 6.01 25.63 263.21 73.40 143.73 129.45
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 8.14 43 72 -176 105 56 843 690 268 -750 236
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 1,238.09% 4,141.45% 35,222.69% -7,226.84% -2,469.21% -2,432.77% 1,763.45% 93.19%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 -12.00 10.30 0.00 0.00 3.30 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 3.99 8.10 0.00 0.00 -4.55 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 3.67 7.90 0.00 0.00 -4.74 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.22 0.21 0.27 0.26 0.18 0.24 0.23 0.19
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 4.24 7.00 2.84 1.61 0.82 0.55
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 31.55 41.31 20.70 23.87 14.96 7.98
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 86.00 52.17 128.61 227.32 443.18 667.10
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 86.00 52.17 128.61 227.32 443.18 667.10
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -8.53 -52 -144 72 -0.77 71 -447 -816 -709 -3,564 -3,636
Invested Capital Turnover		 0.00 0.00 0.00 -1.69 2.35 9.88 -3.67 -1.18 -2.14 -0.52 -0.61
Increase / (Decrease) in Invested Capital		 -8.49 -43 -72 231 -72 72 -518 -369 107 834 -83
Enterprise Value (EV)		 -6.39 -102 123 463 696 2,984 3,350 2,685 2,329 3,092 3,501
Market Capitalization		 2.24 2.24 394 509 828 3,119 3,548 4,279 4,202 7,870 8,626
Book Value per Share		 $0.00 $0.16 $0.00 $2.03 $2.25 $4.74 $9.30 $13.05 $19.51 $20.03 $24.34
Tangible Book Value per Share		 $0.00 $0.15 $0.00 $1.90 $2.15 $4.56 $9.11 $12.52 $17.82 $18.33 $22.31
Total Capital		 0.11 44 134 122 129 310 581 831 1,434 1,684 2,750
Total Debt		 0.00 0.00 7.14 4.01 0.00 35 34 60 267 470 1,261
Total Long-Term Debt		 0.00 0.00 7.14 4.01 0.00 35 34 60 267 470 1,261
Net Debt		 -8.63 -104 -271 -46 -130 -133 -191 -1,587 -1,876 -4,778 -5,125
Capital Expenditures (CapEx)		 -0.00 0.00 0.00 4.72 2.00 1.50 5.62 39 44 95 199
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -8.53 -8.74 -9.01 -33 104 761 133 372 1,627 3,290 4,647
Debt-free Net Working Capital (DFNWC)		 0.10 95 270 17 234 929 359 1,192 2,389 4,128 5,613
Net Working Capital (NWC)		 0.10 95 270 17 234 929 359 1,192 2,389 4,128 5,613
Net Nonoperating Expense (NNE)		 0.15 0.00 0.00 48 10 -22 104 116 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 -8.63 -96 -271 -46 -130 -205 -994 -1,587 -1,876 -4,778 -5,125
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.00 2.03 1.11 2.69 11 14 64 227 162
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% -45.03% 124.57% 219.84% 19.30% 50.00% 99.52% 160.46% 212.07%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 22.23% 280.22% 268.36% 51.98% 160.35% 146.11% 201.29% 256.16%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 22.23% 280.22% 268.36% 51.98% 160.35% 146.11% 201.29% 256.16%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $2.45 $0.00 $3.50 $6.37 $1.43 $2.56
Adjusted Weighted Average Basic Shares Outstanding		 244.21M 490M 0.00 58.04M 58.16M 58.39M 0.00 58.63M 58.96M 59.39M 59.99M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $2.45 $0.00 $3.45 $6.33 $1.40 $2.51
Adjusted Weighted Average Diluted Shares Outstanding		 244.21M 490M 0.00 58.24M 58.25M 58.44M 0.00 59.50M 59.36M 60.49M 61.12M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 244.21M 280.34M 0.00 58.09M 0.00 59.47M 0.00 0.00 60.63M 61.21M 61.29M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.35 0.00 0.00 57 32 129 325 322 375 85 153
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 76.60% 37.88% 37.36% 47.13% 43.24% 22.93% 4.12% 7.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 11.46% 34.88% 43.83% 52.73% 31.73% 26.63% 5.51% 10.31%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 1.58 3.85 0.00 0.00 2.13 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 3.80 3.20 0.00 0.00 1.54 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 1.26 3.66 0.00 0.00 1.94 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 3.48 3.00 0.00 0.00 1.35 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 281.45%

Quarterly Metrics And Ratios for Freedom

This table displays calculated financial ratios and metrics derived from Freedom's official financial filings.

Metric Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026 Q1 2027
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 61,190,535.00 61,292,581.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 61,190,535.00 61,292,581.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.13 0.52
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 116.78% 261.75% 39.98% 33.36% 56.51% -25.03% 17.24% -10.24% -11.77% 81.53% 39.80%
EBITDA Growth		 152.58% -241.18% 25.47% 12.33% -2.88% -94.03% 24.27% -47.38% -17.85% 54.08% -57.14%
EBIT Growth		 134.64% -223.17% 4.28% -7.63% -5.51% -114.57% -2.60% -35.71% -3.31% 46.97% -13.99%
NOPAT Growth		 227.96% -246.08% 15.50% 7.90% 8.63% -64.37% -11.28% -45.49% -21.40% 80.52% -15.25%
Net Income Growth		 53.97% 67.79% -49.56% -0.86% -18.67% -249.11% -11.28% -66.18% -2.43% 105.29% -15.25%
EPS Growth		 55.24% 72.04% -50.43% -3.08% -20.86% -246.88% -12.28% -66.67% -3.10% 105.22% -14.75%
Operating Cash Flow Growth		 95.08% 163.59% 193.43% -0.10% -235.83% 332.94% -43.70% 222.21% 1,086.50% -215.77% -171.05%
Free Cash Flow Firm Growth		 -129.71% -149.62% -166.56% -174.20% 169.93% -142.13% 182.01% 124.05% 690.63% 100.20% -41.84%
Invested Capital Growth		 56.77% 13.08% 76.90% 81.13% -19.41% 18.97% -266.38% -71.05% -388.15% -2.32% -41.98%
Revenue Q/Q Growth		 -3.89% 92.77% -39.54% 31.24% 12.79% -43.25% 43.47% -1.37% 10.78% -5.82% 33.45%
EBITDA Q/Q Growth		 6.99% -146.27% 271.93% 31.98% -7.50% -345.79% 116.23% 42.65% 44.41% -202.90% 121.43%
EBIT Q/Q Growth		 -11.39% -152.08% 248.10% 35.15% -9.36% -434.43% 105.28% 301.69% 36.32% -240.29% 113.12%
NOPAT Q/Q Growth		 -7.50% -165.81% 261.44% 52.75% -6.88% -302.41% 105.66% 411.08% 32.69% -138.82% 139.56%
Net Income Q/Q Growth		 -16.80% -0.62% -64.12% 234.18% -31.75% -282.20% 121.35% 27.39% 96.88% -89.54% 296.94%
EPS Q/Q Growth		 -16.41% -1.84% -64.38% 231.58% -31.75% -282.17% 121.28% 26.00% 98.41% -89.60% 300.00%
Operating Cash Flow Q/Q Growth		 95.05% 1,526.17% 176.40% -151.28% 83.39% 1,938.55% -64.06% 11.32% 34.09% -315.76% 77.94%
Free Cash Flow Firm Q/Q Growth		 -115.08% 63.87% -1,130.14% 1.64% 114.21% -458.74% 272.66% -72.68% 363.41% -99.92% 55,198.97%
Invested Capital Q/Q Growth		 83.57% -17.75% -23.73% 21.16% -3.96% -395.47% 9.78% 63.19% -196.68% -3.56% -25.54%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.84% 99.06% 100.40% 98.21% 95.33% 85.35% 96.49% 94.85% 94.56% 90.07% 91.19%
EBITDA Margin		 71.94% -19.03% 54.13% 54.44% 44.64% -193.36% 21.87% 31.63% 41.23% -45.04% 7.23%
Operating Margin		 67.80% -17.27% 51.18% 55.06% 50.97% -206.40% 7.60% 46.13% 43.58% -56.70% 5.57%
EBIT Margin		 58.01% -17.27% 42.32% 43.58% 35.02% -206.40% 7.60% 30.93% 38.06% -56.70% 5.57%
Profit (Net Income) Margin		 22.95% 13.04% 7.74% 19.71% 11.93% -38.29% 5.70% 7.36% 13.08% 1.45% 4.32%
Tax Burden Percent		 86.07% 91.38% 82.36% 89.10% 79.47% 91.57% 75.02% 64.02% 81.15% 25.71% 77.53%
Interest Burden Percent		 45.96% -82.61% 22.21% 50.75% 42.85% 20.26% 100.00% 37.17% 42.34% -9.97% 100.00%
Effective Tax Rate		 13.93% 8.62% 17.64% 10.90% 20.53% 0.00% 24.98% 35.98% 18.85% 74.29% 22.47%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 39.08% 38.70% 34.51% 31.25% 28.01% 7.10% 6.77% 0.39% 0.22% 11.30% 10.68%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 12.43% -4.22% 9.92% 10.42% 9.05% -46.47% 1.78% 6.68% 7.05% -10.77% 1.13%
Return on Assets (ROA)		 4.92% 3.19% 1.82% 4.71% 3.08% -8.62% 1.34% 1.59% 2.42% 0.28% 0.87%
Return on Common Equity (ROCE)		 39.20% 38.77% 34.39% 31.16% 27.94% 7.09% 6.77% 0.39% 0.22% 11.30% 10.68%
Return on Equity Simple (ROE_SIMPLE)		 32.46% 0.00% 29.70% 27.00% 25.59% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 244 -116 187 285 265 -537 30 155 206 -80 32
NOPAT Margin		 58.36% -15.78% 42.15% 49.06% 40.51% -144.48% 5.70% 29.53% 35.37% -14.58% 4.32%
Net Nonoperating Expense Percent (NNEP)		 -7.98% 12.19% -4.58% -5.22% -10.34% 7.63% 0.00% -5.35% -3.77% 1.78% 0.00%
Return On Investment Capital (ROIC_SIMPLE)		 18.71% - - - 15.33% -31.90% 1.60% 7.91% 8.34% -2.91% 1.05%
Cost of Revenue to Revenue		 -0.84% 0.94% -0.40% 1.80% 4.67% 14.65% 3.51% 5.15% 5.44% 9.93% 7.22%
SG&A Expenses to Revenue		 19.38% 17.34% 29.94% 26.22% 27.22% 19.99% 26.22% 22.85% 20.77% 19.31% 16.04%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 33.04% 116.33% 49.22% 43.15% 44.35% 291.75% 88.89% 48.73% 50.98% 146.77% 85.61%
Earnings before Interest and Taxes (EBIT)		 243 -126 187 253 229 -767 41 163 222 -311 41
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 301 -139 240 316 292 -719 117 166 240 -247 53
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.63 3.61 3.91 4.48 6.18 6.48 7.08 8.39 5.19 5.79 5.06
Price to Tangible Book Value (P/TBV)		 5.12 3.95 4.26 4.86 6.67 7.08 7.72 9.16 5.66 6.32 5.56
Price to Revenue (P/Rev)		 3.50 2.57 2.55 2.96 3.63 3.84 4.08 4.95 3.64 3.94 3.24
Price to Earnings (P/E)		 14.31 11.19 13.13 16.56 24.12 92.97 107.83 2,176.47 2,720.65 56.26 52.62
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 6.99% 8.94% 7.61% 6.04% 4.15% 1.08% 0.93% 0.05% 0.04% 1.78% 1.90%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 2.30 1.42 1.40 1.94 2.71 1.51 2.00 3.79 1.17 1.60 0.70
Enterprise Value to EBITDA (EV/EBITDA)		 3.26 4.66 4.35 5.83 8.43 9.10 11.73 34.71 22.20 9.04 5.25
Enterprise Value to EBIT (EV/EBIT)		 3.53 5.35 5.35 7.81 11.10 27.38 38.01 226.10 0.00 15.56 7.61
Enterprise Value to NOPAT (EV/NOPAT)		 4.24 6.21 6.15 8.86 12.84 36.58 52.72 2,027.60 0.00 22.84 11.30
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 3.50 5.25 8.90 1.84 3.25 3.44 0.76 18.90 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 8.68 0.00 0.00 10.20 0.00 1.76 15.83 0.84 14.85 1.11
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.26 0.23 0.23 0.21 0.37 0.39 0.55 0.61 0.77 0.85 0.96
Long-Term Debt to Equity		 0.26 0.23 0.23 0.21 0.37 0.39 0.55 0.61 0.77 0.85 0.96
Financial Leverage		 -2.16 -1.79 -3.36 -3.00 -1.57 -4.34 -2.72 -1.75 -2.59 -3.65 -3.81
Leverage Ratio		 7.45 6.91 7.60 7.33 7.20 7.65 7.63 7.71 8.09 8.50 8.59
Compound Leverage Factor		 3.42 -5.71 1.69 3.72 3.09 1.55 7.63 2.87 3.43 -0.85 8.59
Debt to Total Capital		 20.40% 18.63% 18.78% 17.47% 27.08% 27.88% 35.28% 37.82% 43.53% 45.85% 48.93%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 20.40% 18.63% 18.78% 17.47% 27.08% 27.88% 35.28% 37.82% 43.53% 45.85% 48.93%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.23% 0.23% 0.22% 0.20% 0.16% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 79.37% 81.14% 81.00% 82.34% 72.76% 72.11% 64.72% 62.18% 56.47% 54.15% 51.07%
Debt to EBITDA		 0.27 0.53 0.47 0.42 0.68 1.38 1.85 3.29 10.20 3.26 4.63
Net Debt to EBITDA		 -1.69 -3.76 -3.59 -3.09 -2.88 -14.06 -12.26 -10.64 -46.55 -13.23 -19.21
Long-Term Debt to EBITDA		 0.27 0.53 0.47 0.42 0.68 1.38 1.85 3.29 10.20 3.26 4.63
Debt to NOPAT		 0.36 0.71 0.66 0.64 1.04 5.56 8.31 191.99 -343.82 8.23 9.96
Net Debt to NOPAT		 -2.20 -5.00 -5.06 -4.70 -4.39 -56.53 -55.10 -621.54 1,568.45 -33.43 -41.32
Long-Term Debt to NOPAT		 0.36 0.71 0.66 0.64 1.04 5.56 8.31 191.99 -343.82 8.23 9.96
Altman Z-Score		 1.15 1.01 1.12 1.28 1.49 1.15 1.44 1.56 1.13 1.18 1.13
Noncontrolling Interest Sharing Ratio		 -0.32% -0.17% 0.34% 0.29% 0.26% 0.14% 0.13% 0.12% 0.11% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 54.97 73.40 54.33 88.99 62.85 143.73 89.75 81.41 77.21 129.45 85.43
Quick Ratio		 54.97 73.40 54.33 88.99 62.85 143.73 89.75 81.41 77.21 129.45 85.43
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -547 -222 -2,735 -2,690 382 -1,371 2,368 647 2,998 2.50 1,381
Operating Cash Flow to CapEx		 -128.78% 4,130.37% 3,532.41% -4,628.49% -364.90% 3,204.41% 1,561.80% 678.20% 1,086.60% -6,735.13% -431.67%
Free Cash Flow to Firm to Interest Expense		 -4.17 0.00 -18.77 -21.58 2.92 0.00 0.00 6.33 23.44 0.00 0.00
Operating Cash Flow to Interest Expense		 -0.17 0.00 5.86 -3.51 -0.55 0.00 0.00 5.23 5.61 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -0.29 0.00 5.70 -3.59 -0.71 0.00 0.00 4.46 5.10 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.21 0.24 0.23 0.24 0.26 0.23 0.23 0.22 0.19 0.19 0.20
Accounts Receivable Turnover		 2.01 1.61 2.03 1.44 1.43 0.82 1.03 0.80 0.79 0.55 0.70
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 22.51 23.87 21.44 18.26 18.05 14.96 13.60 10.18 8.16 7.98 8.21
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 181.46 227.32 180.11 253.51 255.36 443.18 352.72 454.49 462.71 667.10 524.23
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 181.46 227.32 180.11 253.51 255.36 443.18 352.72 454.49 462.71 667.10 524.23
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -602 -709 -878 -692 -719 -3,564 -3,215 -1,183 -3,511 -3,636 -4,565
Invested Capital Turnover		 -1.38 -2.14 -0.75 -0.88 -3.24 -0.52 -1.04 -2.21 -0.94 -0.61 -0.62
Increase / (Decrease) in Invested Capital		 791 107 2,921 2,975 -117 834 -2,337 -492 -2,792 -83 -1,350
Enterprise Value (EV)		 3,161 2,329 2,463 3,690 5,802 3,092 4,252 7,844 2,339 3,501 1,669
Market Capitalization		 4,799 4,202 4,489 5,642 7,782 7,870 8,696 10,249 7,245 8,626 7,768
Book Value per Share		 $17.37 $19.51 $18.95 $20.75 $20.79 $20.03 $20.08 $19.95 $22.81 $24.34 $25.05
Tangible Book Value per Share		 $15.71 $17.82 $17.37 $19.11 $19.26 $18.33 $18.41 $18.28 $20.92 $22.31 $22.78
Total Capital		 1,306 1,434 1,419 1,531 1,732 1,684 1,899 1,964 2,470 2,750 3,006
Total Debt		 266 267 266 267 469 470 670 743 1,075 1,261 1,471
Total Long-Term Debt		 266 267 266 267 469 470 670 743 1,075 1,261 1,471
Net Debt		 -1,642 -1,876 -2,030 -1,955 -1,982 -4,778 -4,444 -2,405 -4,906 -5,125 -6,100
Capital Expenditures (CapEx)		 17 7.48 24 9.46 20 42 31 79 66 23 79
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 934 1,627 1,177 1,596 1,989 3,290 2,858 3,477 2,960 4,647 3,934
Debt-free Net Working Capital (DFNWC)		 1,496 2,389 2,159 2,450 2,986 4,128 3,426 4,113 3,830 5,613 5,285
Net Working Capital (NWC)		 1,496 2,389 2,159 2,450 2,986 4,128 3,426 4,113 3,830 5,613 5,285
Net Nonoperating Expense (NNE)		 148 -211 152 171 187 -395 0.00 117 130 -88 0.00
Net Nonoperating Obligations (NNO)		 -1,642 -1,876 -2,030 -1,955 -1,982 -4,778 -4,444 -2,405 -4,906 -5,125 -6,100
Total Depreciation and Amortization (D&A)		 58 -13 52 63 63 48 76 3.65 18 64 12
Debt-free, Cash-free Net Working Capital to Revenue		 68.01% 99.52% 66.84% 83.71% 92.82% 160.46% 134.25% 168.07% 148.68% 212.07% 163.94%
Debt-free Net Working Capital to Revenue		 108.94% 146.11% 122.56% 128.48% 139.31% 201.29% 160.93% 198.81% 192.33% 256.16% 220.23%
Net Working Capital to Revenue		 108.94% 146.11% 122.56% 128.48% 139.31% 201.29% 160.93% 198.81% 192.33% 256.16% 220.23%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.65 $1.59 $0.58 $1.93 $1.32 ($2.40) $0.51 $0.65 $1.27 $0.13 $0.52
Adjusted Weighted Average Basic Shares Outstanding		 58.58M 58.96M 59.26M 59.36M 59.37M 59.39M 59.85M 59.95M 59.96M 59.99M 60.42M
Adjusted Diluted Earnings per Share		 $1.63 $1.60 $0.57 $1.89 $1.29 ($2.35) $0.50 $0.63 $1.25 $0.13 $0.52
Adjusted Weighted Average Diluted Shares Outstanding		 59.29M 59.36M 60.26M 60.46M 60.55M 60.49M 61.06M 61.12M 61.11M 61.12M 61.27M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 59.66M 60.63M 60.75M 60.61M 60.62M 61.21M 61.22M 61.16M 61.19M 61.29M 63.79M
Normalized Net Operating Profit after Tax (NOPAT)		 244 -116 187 285 265 -537 30 155 206 -218 32
Normalized NOPAT Margin		 58.36% -15.78% 42.15% 49.06% 40.51% -144.48% 5.70% 29.53% 35.37% -39.69% 4.32%
Pre Tax Income Margin		 26.66% 14.27% 9.40% 22.12% 15.01% -41.81% 7.60% 11.50% 16.12% 5.65% 5.57%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.85 0.00 1.29 2.03 1.75 0.00 0.00 1.59 1.73 0.00 0.00
NOPAT to Interest Expense		 1.86 0.00 1.28 2.29 2.02 0.00 0.00 1.52 1.61 0.00 0.00
EBIT Less CapEx to Interest Expense		 1.72 0.00 1.12 1.95 1.60 0.00 0.00 0.82 1.22 0.00 0.00
NOPAT Less CapEx to Interest Expense		 1.73 0.00 1.11 2.21 1.87 0.00 0.00 0.75 1.10 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 281.45% 0.00%

Financials Breakdown Chart

Key Financial Trends

Freedom Holding’s latest results show significant balance-sheet expansion and a sharp rebound in revenue, but profitability and cash generation remain volatile. In Q1 fiscal 2027, total revenue reached $732.5 million, up from $548.9 million in Q4 fiscal 2026 and $454.999 million in Q1 fiscal 2025. However, net income was $31.7 million, compared with $79.8 million in the immediately preceding quarter and $37.4 million in the year-ago quarter.

The company’s earnings history is uneven. Net income rose to $114.5 million in Q2 fiscal 2025 and $78.1 million in Q3 fiscal 2025 before falling to a $142.4 million loss in Q4 fiscal 2025. It recovered in fiscal 2026, but operating income again swung from $254.0 million in Q3 to a $311.2 million loss in Q4 before returning to a $40.8 million profit in the latest quarter.

  • Revenue growth remains a major strength. Q1 fiscal 2027 revenue of $732.5 million was approximately 61% higher than Q1 fiscal 2025, reflecting substantial expansion from the company’s $167.9 million quarterly revenue base in Q1 fiscal 2023.
  • Gross profitability is consistently high. Gross profit was $668.0 million in the latest quarter, representing roughly 91% of revenue. This provides a sizable earnings base before operating expenses.
  • The balance sheet has expanded considerably. Total assets increased from $2.7 billion in Q3 fiscal 2022 to $14.0 billion in Q1 fiscal 2027. Common equity also rose from $592.3 million to $1.54 billion over the same period.
  • Cash and equivalents have improved from earlier periods. Cash reached $1.35 billion at the end of Q1 fiscal 2027, compared with $146.4 million in Q3 fiscal 2022 and $567.9 million in Q1 fiscal 2026.
  • Recent earnings returned to positive territory. Operating income was positive at $40.8 million in Q1 fiscal 2027 after a $311.2 million operating loss in Q4 fiscal 2026, while diluted EPS improved to $0.52 from $0.13.
  • Cash flow is highly dependent on working-capital movements. Operating cash flow was positive in Q2 and Q3 fiscal 2026 at $535.3 million and $717.8 million, respectively, but turned negative at $1.55 billion in Q4 and negative $341.6 million in Q1 fiscal 2027.
  • Investment activity is substantial and variable. Freedom Holding purchased $218.4 million of investments in the latest quarter while receiving $20.8 million from investment sales or maturities. Similar large investment purchases and sales have occurred throughout the reported periods.
  • Share count has gradually increased. Basic weighted-average shares rose from approximately 58.6 million in Q3 fiscal 2022 to 60.4 million in Q1 fiscal 2027. The latest quarter also included $300 million of common-equity issuance, which may support growth but can dilute existing shareholders.
  • Operating expenses are absorbing most of the company’s gross profit. Other operating expenses reached $473.9 million in Q1 fiscal 2027, producing operating income of only $40.8 million despite $668.0 million of gross profit. This leaves the operating margin at roughly 5.6%.
  • Leverage and funding needs warrant close monitoring. Total liabilities were $12.5 billion against $1.54 billion of common equity, while long-term debt increased to $1.47 billion from $266.3 million in Q1 fiscal 2025. Q1 fiscal 2027 financing cash flow of $1.22 billion, including debt and equity issuance, more than offset negative operating and investing cash flow.

For investors, the central question is whether Freedom Holding can convert its expanding revenue and asset base into more consistent operating profits and internally generated cash. The latest quarter’s revenue rebound and stronger cash balance are encouraging, but the large swings in operating income, working capital and financing flows indicate that reported growth has not yet translated into stable cash earnings.

The supplied history also includes several restated and calculated periods, and certain balance-sheet classifications change over time. Investors should therefore focus on the company’s filed annual reports and notes for additional detail on customer-related liabilities, investment assets, debt terms and the causes of the unusually large operating-expense fluctuations.

09/05/26 03:55 AM ETAI Generated. May Contain Errors.

Freedom Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Freedom's fiscal year ends in March. Their fiscal year 2026 ended on March 31, 2026.

Freedom's net income appears to be on an upward trend, with a most recent value of $153.33 million in 2026, falling from -$492.00 thousand in 2016. The previous period was $76.16 million in 2025. Check out Freedom's forecast to explore projected trends and price targets.

Freedom's total operating income in 2026 was $225.97 million, based on the following breakdown:
  • Total Gross Profit: $2.06 billion
  • Total Operating Expenses: $1.83 billion

Over the last 10 years, Freedom's total revenue changed from $0.00 in 2016 to $2.19 billion in 2026, a change of 219,129,100,000.0%.

Freedom's total liabilities were at $11.67 billion at the end of 2026, a 34.2% increase from 2025, and a 135,805.2% increase since 2016.

In the past 10 years, Freedom's cash and equivalents has ranged from $99.68 thousand in 2016 to $966.12 million in 2026, and is currently $966.12 million as of their latest financial filing in 2026.

Over the last 10 years, Freedom's book value per share changed from 0.00 in 2016 to 24.34 in 2026, a change of 6,084,500.0%.


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Financial statements for NASDAQ:FRHC last updated on 8/10/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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