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Freedom (FRHC) Financials

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$135.36 -3.54 (-2.55%)
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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 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 9/30/2023 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
Net Income / (Loss) Attributable to Common Shareholders		 116 96 95 34 115 78 -143 30 39 76 7.98
Consolidated Net Income / (Loss)		 115 96 95 34 114 78 -142 30 39 76 7.98
Net Income / (Loss) Continuing Operations		 115 96 95 34 114 78 -142 30 39 76 7.98
Total Pre-Tax Income 		135 112 104 42 128 98 -155 41 60 94 31
Total Operating Income		 308 284 -126 42 320 330 -767 41 243 254 -311
Total Gross Profit		 431 422 725 452 570 621 317 515 499 551 494
Total Revenue		 436 419 732 455 586 661 372 533 526 583 549
Operating Revenue		 436 461 660 455 586 649 320 533 526 556 441
Total Cost of Revenue		 4.66 -3.53 6.90 2.51 16 40 54 19 27 32 54
Operating Cost of Revenue		 - - - 4.28 5.24 9.39 - 14 15 25 25
Other Cost of Revenue		 4.66 -3.53 - -1.77 10 31 23 4.82 12 6.34 29
Total Operating Expenses		 123 138 852 411 251 291 1,085 474 256 297 806
Selling, General & Admin Expense		 73 81 127 128 140 159 74 140 120 121 106
Marketing Expense		 8.64 11 11 22 32 41 66 24 28 37 15
Other Operating Expenses / (Income)		 41 46 - 261 78 91 945 310 109 139 685
Total Other Income / (Expense), net		 -173 -172 231 0.00 -191 -232 612 0.00 -182 -160 341
Income Tax Expense		 19 16 9.01 7.34 14 20 -13 10 22 18 23
Basic Earnings per Share		 $1.97 $1.65 $1.59 $0.58 $1.93 $1.32 ($2.40) $0.51 $0.65 $1.27 $0.13
Weighted Average Basic Shares Outstanding		 58.58M 58.58M 58.96M 59.26M 59.36M 59.37M 59.39M 59.85M 59.95M 59.96M 59.99M
Diluted Earnings per Share		 $1.95 $1.63 $1.60 $0.57 $1.89 $1.29 ($2.35) $0.50 $0.63 $1.25 $0.13
Weighted Average Diluted Shares Outstanding		 59.29M 59.29M 59.36M 60.26M 60.46M 60.55M 60.49M 61.06M 61.12M 61.11M 61.12M
Weighted Average Basic & Diluted Shares Outstanding		 59.66M 59.66M 60.63M 60.75M 60.61M 60.62M 61.21M 61.22M 61.16M 61.19M 61.29M

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 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 9/30/2023 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
Net Change in Cash & Equivalents		 -249 96 65 890 -433 -145 325 24 279 1,564 -1,540
Net Cash From Operating Activities		 -438 -22 309 854 -438 -73 1,338 481 535 718 -1,549
Net Cash From Continuing Operating Activities		 -438 -22 309 858 -438 -73 1,338 482 534 718 -1,549
Net Income / (Loss) Continuing Operations		 115 96 95 34 114 78 -142 30 39 76 7.98
Consolidated Net Income / (Loss)		 115 96 95 34 114 78 -142 30 39 76 7.98
Depreciation Expense		 4.00 4.48 3.51 4.15 3.91 4.65 4.45 6.11 6.27 8.32 14
Amortization Expense		 3.44 54 -16 48 59 58 44 70 -2.62 10 50
Non-Cash Adjustments To Reconcile Net Income		 -20 18 -64 80 -7.21 -151 221 -2.55 25 10 196
Changes in Operating Assets and Liabilities, net		 -540 -194 290 692 -608 -63 1,210 378 466 613 -1,817
Net Cash From Investing Activities		 -181 -143 -45 -95 -129 -429 -253 -506 -179 -256 -108
Net Cash From Continuing Investing Activities		 -183 -140 -45 -95 -129 -429 -253 -506 -179 -256 -108
Purchase of Property, Plant & Equipment		 -8.76 -17 -7.48 -24 -9.46 -20 -42 -31 -79 -66 -23
Acquisitions		 -12 -38 -6.36 -12 1.65 -15 -16 -2.48 -2.97 -18 -24
Purchase of Investments		 -51 -36 -60 -104 -41 -247 -133 -280 -200 -193 -104
Divestitures		 - - - 0.00 - - 0.09 - - 0.00 0.03
Sale and/or Maturity of Investments		 70 37 49 48 22 88 16 14 201 110 59
Other Investing Activities, net		 -181 -87 -18 -2.59 -104 -236 -79 -206 -101 -89 -17
Net Cash From Financing Activities		 426 208 -218 246 125 463 -835 123 96 784 188
Net Cash From Continuing Financing Activities		 426 208 -218 246 125 463 -835 123 96 784 188
Repayment of Debt		 -10 -11 -11 -13 -14 -14 -14 -13 -14 -18 -15
Repurchase of Common Equity		 - - - -55 - - - -308 -212 174 -85
Issuance of Debt		 0.02 201 -0.03 0.00 - 202 2.48 199 71 329 184
Other Financing Activities, net		 127 16 -27 313 53 463 -981 245 251 300 103

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 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 9/30/2022 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
Total Assets		 4,784 5,368 6,540 7,138 7,449 8,484 8,816 9,135 9,690 10,350 12,377
Total Current Assets		 2,482 1,518 6,269 6,849 1,523 2,199 2,478 3,034 3,465 4,164 3,880
Cash & Equivalents		 790 664 597 464 562 719 569 578 568 636 869
Accounts Receivable		 408 404 521 1,025 961 1,218 1,624 2,038 2,897 3,528 3,011
Plant, Property, & Equipment, net		 37 44 64 66 78 100 142 159 213 264 329
Total Noncurrent Assets		 2,265 3,807 207 223 5,848 6,184 6,196 5,941 6,012 5,922 8,168
Long-Term Investments		 - - - - 1,346 1,315 1,369 1,454 4,546 2,511 5,112
Goodwill		 9.51 9.46 51 52 52 51 53 48 48 46 49
Intangible Assets		 7.69 9.01 42 44 47 46 46 44 54 56 66
Other Noncurrent Operating Assets		 2,245 2,827 114 127 4,403 4,773 4,728 4,394 1,364 3,308 2,941
Total Liabilities & Shareholders' Equity		 4,784 5,368 6,540 7,138 7,449 8,484 8,816 9,135 9,690 10,350 12,377
Total Liabilities		 4,163 4,686 5,714 6,224 6,410 7,331 7,553 7,872 8,461 9,129 10,982
Total Current Liabilities		 88 142 2,978 2,628 28 40 28 48 39 51 50
Current Deferred & Payable Income Tax Liabilities		 19 0.00 16 23 28 40 28 48 39 51 50
Total Noncurrent Liabilities		 4,075 4,543 2,736 3,596 6,382 7,291 7,525 7,824 8,422 9,077 10,932
Long-Term Debt		 57 - 65 66 266 266 267 469 670 743 1,075
Other Noncurrent Operating Liabilities		 2,928 4,543 2,671 3,530 6,116 7,024 7,258 7,355 7,752 8,335 9,856
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		 621 682 826 914 1,039 1,152 1,263 1,263 1,229 1,221 1,395
Total Preferred & Common Equity		 629 691 822 911 1,036 1,149 1,260 1,260 1,229 1,221 1,395
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		 629 691 822 911 1,036 1,149 1,260 1,260 1,229 1,221 1,395
Common Stock		 156 160 165 166 168 197 209 223 270 285 300
Retained Earnings		 529 592 691 807 904 1,033 1,148 1,226 1,116 1,155 1,231
Accumulated Other Comprehensive Income / (Loss)		 -56 -61 -34 -63 -35 -81 -97 -189 -157 -219 -136
Noncontrolling Interest		 -8.04 -8.50 3.46 3.35 3.05 3.17 3.00 2.85 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 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 9/30/2023 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
DEI Shares Outstanding		 - - - - - - - - - - 61,190,535.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 61,190,535.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.13
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 141.83% 116.78% 261.75% 39.98% 33.36% 56.51% -25.03% 17.24% -10.24% -11.77% 81.53%
EBITDA Growth		 170.20% 152.58% -241.18% 25.47% 12.33% -2.88% -94.03% 24.27% -47.38% -17.85% 54.08%
EBIT Growth		 165.46% 134.64% -223.17% 4.28% -7.63% -5.51% -114.57% -2.60% -35.71% -3.31% 46.97%
NOPAT Growth		 221.39% 227.96% -246.08% 15.50% 7.90% 8.63% -64.37% -11.28% -45.49% -21.40% 80.52%
Net Income Growth		 324.37% 53.97% 67.79% -49.56% -0.86% -18.67% -249.11% -11.28% -66.18% -2.43% 105.29%
EPS Growth		 343.18% 55.24% 72.04% -50.43% -3.08% -20.86% -246.88% -12.28% -66.67% -3.10% 105.22%
Operating Cash Flow Growth		 -282.30% 95.08% 163.59% 193.43% -0.10% -235.83% 332.94% -43.70% 222.21% 1,086.50% -215.77%
Free Cash Flow Firm Growth		 4,311.09% -129.71% -149.62% -166.56% -174.20% 169.93% -142.13% 182.01% 124.05% 690.63% 100.20%
Invested Capital Growth		 -1,099.28% 56.77% 13.08% 76.90% 81.13% -19.41% 18.97% -266.38% -71.05% -388.15% -2.32%
Revenue Q/Q Growth		 37.75% -3.89% 92.77% -39.54% 31.24% 12.79% -43.25% 43.47% -1.37% 10.78% -5.82%
EBITDA Q/Q Growth		 47.42% 6.99% -146.27% 271.93% 31.98% -7.50% -345.79% 116.23% 42.65% 44.41% -202.90%
EBIT Q/Q Growth		 52.58% -11.39% -152.08% 248.10% 35.15% -9.36% -434.43% 105.28% 301.69% 36.32% -240.29%
NOPAT Q/Q Growth		 63.52% -7.50% -165.81% 261.44% 52.75% -6.88% -302.41% 105.66% 411.08% 32.69% -138.82%
Net Income Q/Q Growth		 70.02% -16.80% -0.62% -64.12% 234.18% -31.75% -282.20% 121.35% 27.39% 96.88% -89.54%
EPS Q/Q Growth		 69.57% -16.41% -1.84% -64.38% 231.58% -31.75% -282.17% 121.28% 26.00% 98.41% -89.60%
Operating Cash Flow Q/Q Growth		 52.13% 95.05% 1,526.17% 176.40% -151.28% 83.39% 1,938.55% -64.06% 11.32% 34.09% -315.76%
Free Cash Flow Firm Q/Q Growth		 -11.78% -115.08% 63.87% -1,130.14% 1.64% 114.21% -458.74% 272.66% -72.68% 363.41% -99.92%
Invested Capital Q/Q Growth		 3.48% 83.57% -17.75% -23.73% 21.16% -3.96% -395.47% 9.78% 63.19% -196.68% -3.56%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 98.93% 100.84% 99.06% 100.40% 98.21% 95.33% 85.35% 96.49% 94.85% 94.56% 90.07%
EBITDA Margin		 64.63% 71.94% -19.03% 54.13% 54.44% 44.64% -193.36% 21.87% 31.63% 41.23% -45.04%
Operating Margin		 70.72% 67.80% -17.27% 51.18% 55.06% 50.97% -206.40% 7.60% 46.13% 43.58% -56.70%
EBIT Margin		 62.92% 58.01% -17.27% 42.32% 43.58% 35.02% -206.40% 7.60% 30.93% 38.06% -56.70%
Profit (Net Income) Margin		 26.51% 22.95% 13.04% 7.74% 19.71% 11.93% -38.29% 5.70% 7.36% 13.08% 1.45%
Tax Burden Percent		 85.74% 86.07% 91.38% 82.36% 89.10% 79.47% 91.57% 75.02% 64.02% 81.15% 25.71%
Interest Burden Percent		 49.14% 45.96% -82.61% 22.21% 50.75% 42.85% 20.26% 100.00% 37.17% 42.34% -9.97%
Effective Tax Rate		 14.26% 13.93% 8.62% 17.64% 10.90% 20.53% 0.00% 24.98% 35.98% 18.85% 74.29%
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)		 39.42% 39.08% 38.70% 34.51% 31.25% 28.01% 7.10% 6.77% 0.39% 0.22% 11.30%
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)		 12.11% 12.43% -4.22% 9.92% 10.42% 9.05% -46.47% 1.78% 6.68% 7.05% -10.77%
Return on Assets (ROA)		 5.10% 4.92% 3.19% 1.82% 4.71% 3.08% -8.62% 1.34% 1.59% 2.42% 0.28%
Return on Common Equity (ROCE)		 39.54% 39.20% 38.77% 34.39% 31.16% 27.94% 7.09% 6.77% 0.39% 0.22% 11.30%
Return on Equity Simple (ROE_SIMPLE)		 33.22% 32.46% 0.00% 29.70% 27.00% 25.59% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 264 244 -116 187 285 265 -537 30 155 206 -80
NOPAT Margin		 60.64% 58.36% -15.78% 42.15% 49.06% 40.51% -144.48% 5.70% 29.53% 35.37% -14.58%
Net Nonoperating Expense Percent (NNEP)		 -5.40% -7.98% 12.19% -4.58% -5.22% -10.34% 7.63% 0.00% -5.35% -3.77% 1.78%
Return On Investment Capital (ROIC_SIMPLE)		 - 18.71% - - - 15.33% -31.90% 1.60% 7.91% 8.34% -2.91%
Cost of Revenue to Revenue		 1.07% -0.84% 0.94% -0.40% 1.80% 4.67% 14.65% 3.51% 5.15% 5.44% 9.93%
SG&A Expenses to Revenue		 16.80% 19.38% 17.34% 29.94% 26.22% 27.22% 19.99% 26.22% 22.85% 20.77% 19.31%
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		 28.21% 33.04% 116.33% 49.22% 43.15% 44.35% 291.75% 88.89% 48.73% 50.98% 146.77%
Earnings before Interest and Taxes (EBIT)		 274 243 -126 187 253 229 -767 41 163 222 -311
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 282 301 -139 240 316 292 -719 117 166 240 -247
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 5.54 4.63 3.61 3.91 4.48 6.18 6.48 7.08 8.39 5.19 5.79
Price to Tangible Book Value (P/TBV)		 6.19 5.12 3.95 4.26 4.86 6.67 7.08 7.72 9.16 5.66 6.32
Price to Revenue (P/Rev)		 4.40 3.50 2.57 2.55 2.96 3.63 3.84 4.08 4.95 3.64 3.94
Price to Earnings (P/E)		 16.71 14.31 11.19 13.13 16.56 24.12 92.97 107.83 2,176.47 2,720.65 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		 5.98% 6.99% 8.94% 7.61% 6.04% 4.15% 1.08% 0.93% 0.05% 0.04% 1.78%
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)		 0.41 2.30 1.42 1.40 1.94 2.71 1.51 2.00 3.79 1.17 1.60
Enterprise Value to EBITDA (EV/EBITDA)		 0.64 3.26 4.66 4.35 5.83 8.43 9.10 11.73 34.71 22.20 9.04
Enterprise Value to EBIT (EV/EBIT)		 0.67 3.53 5.35 5.35 7.81 11.10 27.38 38.01 226.10 0.00 15.56
Enterprise Value to NOPAT (EV/NOPAT)		 0.81 4.24 6.21 6.15 8.86 12.84 36.58 52.72 2,027.60 0.00 22.84
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 3.50 5.25 8.90 1.84 3.25 3.44 0.76 18.90
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.12 0.00 8.68 0.00 0.00 10.20 0.00 1.76 15.83 0.84 14.85
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.07 0.26 0.23 0.23 0.21 0.37 0.39 0.55 0.61 0.77 0.85
Long-Term Debt to Equity		 0.07 0.26 0.23 0.23 0.21 0.37 0.39 0.55 0.61 0.77 0.85
Financial Leverage		 -3.59 -2.16 -1.79 -3.36 -3.00 -1.57 -4.34 -2.72 -1.75 -2.59 -3.65
Leverage Ratio		 7.76 7.45 6.91 7.60 7.33 7.20 7.65 7.63 7.71 8.09 8.50
Compound Leverage Factor		 3.82 3.42 -5.71 1.69 3.72 3.09 1.55 7.63 2.87 3.43 -0.85
Debt to Total Capital		 6.73% 20.40% 18.63% 18.78% 17.47% 27.08% 27.88% 35.28% 37.82% 43.53% 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		 6.73% 20.40% 18.63% 18.78% 17.47% 27.08% 27.88% 35.28% 37.82% 43.53% 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		 0.34% 0.23% 0.23% 0.22% 0.20% 0.16% 0.01% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 92.93% 79.37% 81.14% 81.00% 82.34% 72.76% 72.11% 64.72% 62.18% 56.47% 54.15%
Debt to EBITDA		 0.09 0.27 0.53 0.47 0.42 0.68 1.38 1.85 3.29 10.20 3.26
Net Debt to EBITDA		 -6.32 -1.69 -3.76 -3.59 -3.09 -2.88 -14.06 -12.26 -10.64 -46.55 -13.23
Long-Term Debt to EBITDA		 0.09 0.27 0.53 0.47 0.42 0.68 1.38 1.85 3.29 10.20 3.26
Debt to NOPAT		 0.11 0.36 0.71 0.66 0.64 1.04 5.56 8.31 191.99 -343.82 8.23
Net Debt to NOPAT		 -7.92 -2.20 -5.00 -5.06 -4.70 -4.39 -56.53 -55.10 -621.54 1,568.45 -33.43
Long-Term Debt to NOPAT		 0.11 0.36 0.71 0.66 0.64 1.04 5.56 8.31 191.99 -343.82 8.23
Altman Z-Score		 1.64 1.15 1.01 1.12 1.28 1.49 1.15 1.44 1.56 1.13 1.18
Noncontrolling Interest Sharing Ratio		 -0.31% -0.32% -0.17% 0.34% 0.29% 0.26% 0.14% 0.13% 0.12% 0.11% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.61 54.97 73.40 54.33 88.99 62.85 143.73 89.75 81.41 77.21 129.45
Quick Ratio		 2.46 54.97 73.40 54.33 88.99 62.85 143.73 89.75 81.41 77.21 129.45
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 3,625 -547 -222 -2,735 -2,690 382 -1,371 2,368 647 2,998 2.50
Operating Cash Flow to CapEx		 -4,992.64% -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%
Free Cash Flow to Firm to Interest Expense		 26.01 -4.17 0.00 -18.77 -21.58 2.92 0.00 0.00 6.33 23.44 0.00
Operating Cash Flow to Interest Expense		 -3.14 -0.17 0.00 5.86 -3.51 -0.55 0.00 0.00 5.23 5.61 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -3.20 -0.29 0.00 5.70 -3.59 -0.71 0.00 0.00 4.46 5.10 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.19 0.21 0.24 0.23 0.24 0.26 0.23 0.23 0.22 0.19 0.19
Accounts Receivable Turnover		 1.60 2.01 1.61 2.03 1.44 1.43 0.82 1.03 0.80 0.79 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		 22.21 22.51 23.87 21.44 18.26 18.05 14.96 13.60 10.18 8.16 7.98
Accounts Payable Turnover		 0.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 227.94 181.46 227.32 180.11 253.51 255.36 443.18 352.72 454.49 462.71 667.10
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)		 3,350.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 -3,122.14 181.46 227.32 180.11 253.51 255.36 443.18 352.72 454.49 462.71 667.10
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -3,667 -602 -709 -878 -692 -719 -3,564 -3,215 -1,183 -3,511 -3,636
Invested Capital Turnover		 -0.58 -1.38 -2.14 -0.75 -0.88 -3.24 -0.52 -1.04 -2.21 -0.94 -0.61
Increase / (Decrease) in Invested Capital		 -3,361 791 107 2,921 2,975 -117 834 -2,337 -492 -2,792 -83
Enterprise Value (EV)		 466 3,161 2,329 2,463 3,690 5,802 3,092 4,252 7,844 2,339 3,501
Market Capitalization		 5,044 4,799 4,202 4,489 5,642 7,782 7,870 8,696 10,249 7,245 8,626
Book Value per Share		 $15.27 $17.37 $19.51 $18.95 $20.75 $20.79 $20.03 $20.08 $19.95 $22.81 $24.34
Tangible Book Value per Share		 $13.67 $15.71 $17.82 $17.37 $19.11 $19.26 $18.33 $18.41 $18.28 $20.92 $22.31
Total Capital		 980 1,306 1,434 1,419 1,531 1,732 1,684 1,899 1,964 2,470 2,750
Total Debt		 66 266 267 266 267 469 470 670 743 1,075 1,261
Total Long-Term Debt		 66 266 267 266 267 469 470 670 743 1,075 1,261
Net Debt		 -4,581 -1,642 -1,876 -2,030 -1,955 -1,982 -4,778 -4,444 -2,405 -4,906 -5,125
Capital Expenditures (CapEx)		 8.76 17 7.48 24 9.46 20 42 31 79 66 23
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -427 934 1,627 1,177 1,596 1,989 3,290 2,858 3,477 2,960 4,647
Debt-free Net Working Capital (DFNWC)		 4,221 1,496 2,389 2,159 2,450 2,986 4,128 3,426 4,113 3,830 5,613
Net Working Capital (NWC)		 4,221 1,496 2,389 2,159 2,450 2,986 4,128 3,426 4,113 3,830 5,613
Net Nonoperating Expense (NNE)		 149 148 -211 152 171 187 -395 0.00 117 130 -88
Net Nonoperating Obligations (NNO)		 -4,581 -1,642 -1,876 -2,030 -1,955 -1,982 -4,778 -4,444 -2,405 -4,906 -5,125
Total Depreciation and Amortization (D&A)		 7.44 58 -13 52 63 63 48 76 3.65 18 64
Debt-free, Cash-free Net Working Capital to Revenue		 -37.19% 68.01% 99.52% 66.84% 83.71% 92.82% 160.46% 134.25% 168.07% 148.68% 212.07%
Debt-free Net Working Capital to Revenue		 367.87% 108.94% 146.11% 122.56% 128.48% 139.31% 201.29% 160.93% 198.81% 192.33% 256.16%
Net Working Capital to Revenue		 367.87% 108.94% 146.11% 122.56% 128.48% 139.31% 201.29% 160.93% 198.81% 192.33% 256.16%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.97 $1.65 $1.59 $0.58 $1.93 $1.32 ($2.40) $0.51 $0.65 $1.27 $0.13
Adjusted Weighted Average Basic Shares Outstanding		 58.58M 58.58M 58.96M 59.26M 59.36M 59.37M 59.39M 59.85M 59.95M 59.96M 59.99M
Adjusted Diluted Earnings per Share		 $1.95 $1.63 $1.60 $0.57 $1.89 $1.29 ($2.35) $0.50 $0.63 $1.25 $0.13
Adjusted Weighted Average Diluted Shares Outstanding		 59.29M 59.29M 59.36M 60.26M 60.46M 60.55M 60.49M 61.06M 61.12M 61.11M 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		 59.66M 59.66M 60.63M 60.75M 60.61M 60.62M 61.21M 61.22M 61.16M 61.19M 61.29M
Normalized Net Operating Profit after Tax (NOPAT)		 264 244 -116 187 285 265 -537 30 155 206 -218
Normalized NOPAT Margin		 60.64% 58.36% -15.78% 42.15% 49.06% 40.51% -144.48% 5.70% 29.53% 35.37% -39.69%
Pre Tax Income Margin		 30.92% 26.66% 14.27% 9.40% 22.12% 15.01% -41.81% 7.60% 11.50% 16.12% 5.65%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.97 1.85 0.00 1.29 2.03 1.75 0.00 0.00 1.59 1.73 0.00
NOPAT to Interest Expense		 1.90 1.86 0.00 1.28 2.29 2.02 0.00 0.00 1.52 1.61 0.00
EBIT Less CapEx to Interest Expense		 1.90 1.72 0.00 1.12 1.95 1.60 0.00 0.00 0.82 1.22 0.00
NOPAT Less CapEx to Interest Expense		 1.83 1.73 0.00 1.11 2.21 1.87 0.00 0.00 0.75 1.10 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%

Financials Breakdown Chart

Key Financial Trends

Freedom Holding Corp. (NASDAQ: FRHC) has delivered strong top-line growth over the last several years, but the latest quarter highlights a more mixed picture: revenue is still rising, yet profitability and cash flow have become far more volatile. The company also continues to carry a large, complex balance sheet, with significant liabilities tied to its financial-services model.

  • Revenue growth remains solid over time. Q4 2026 total revenue came in at $548.9 million, up from $371.8 million in Q4 2025 and $202.4 million in Q4 2024. On a year-over-year basis, Freedom has shown meaningful expansion in operating scale.
  • Gross profit held up well in the latest quarter. Q4 2026 gross profit was $494.4 million, showing the business still generated healthy spread before operating expenses.
  • Net income turned positive again in Q4 2026. After a $142.4 million loss in Q4 2025, Freedom posted $8.0 million in net income in Q4 2026, suggesting some recovery from last year’s weaker period.
  • Q3 2026 was a much stronger earnings quarter. Revenue of $582.8 million produced net income of $76.2 million and diluted EPS of $1.25, a sharp improvement versus the prior-year period.
  • Balance sheet equity has grown versus 2024. Total common equity rose to $1.39 billion in Q3 2026 from $1.04 billion in Q3 2025 and $682.3 million in Q3 2024, indicating retained earnings and capital growth over time.
  • Cash and equivalents improved from a year ago. Cash and equivalents stood at $869.2 million in Q3 2026, up from $577.9 million in Q3 2025 and $561.9 million in Q3 2024.
  • Operating margins have been unstable. The company swung from strong operating income in Q3 2026 to an operating loss in Q4 2026, largely because “other operating expenses” surged sharply.
  • Cash flow is very volatile quarter to quarter. Freedom generated $717.8 million of operating cash flow in Q3 2026, but that reversed to a $1.55 billion operating cash outflow in Q4 2026.
  • The business appears balance-sheet intensive. Large accounts receivable, long-term investments, and “other noncurrent operating assets” make the balance sheet more complex than a typical non-financial company.
  • Q4 2026 operating results were weak. Operating income was a loss of $311.2 million, driven by $805.7 million in operating expenses against $548.9 million of revenue.
  • Latest quarter cash flow was deeply negative from operations. Net cash from operating activities was a negative $1.55 billion in Q4 2026, a significant red flag even though financing inflows partially offset it.
  • Other operating expenses spiked dramatically. Q4 2026 other operating expenses were $684.9 million, far above the $139.4 million seen in Q3 2026 and $108.6 million in Q2 2026.
  • Debt and liabilities remain substantial. In Q3 2026, total liabilities were $11.0 billion versus $1.39 billion of equity, leaving the company with a highly leveraged balance sheet profile.
  • Interest expense and other non-operating items can materially pressure earnings. In Q3 2026, total other expense was $160.1 million, which cut deeply into pretax income despite strong operating income.
  • Q4 2025 was a reminder that earnings can swing sharply. That quarter produced a $142.7 million loss to common shareholders, showing results are not consistently predictable.

Bottom line: Freedom Holding has shown impressive long-term revenue growth and some recent earnings recovery, but its latest quarter was pressured by a heavy rise in operating expenses and a very large operating cash outflow. For retail investors, the key question is whether the company can stabilize margins and cash generation while managing a balance sheet that remains quite levered.

06/16/26 12:06 PM 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. Find out what analysts predict for Freedom in the coming months.

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 6/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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