Company Valuation: Freedom Holding Corp.

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 3,119 3,548 4,279 4,210 8,012 8,865
Change - 13.78% 20.59% -1.6% 90.31% 10.65%
Enterprise Value (EV) 1 2,195 2,612 2,892 3,046 6,853 7,992
Change - 19% 10.73% 5.29% 125.02% 16.62%
P/E 21.9x 16.2x 20.8x 11.1x 94.4x 57.7x
PBR 11.2x 6.9x 5.52x 3.66x 6.64x 5.96x
PEG - 0.3x -3.45x 0.1x -1.2x 0.7x
Capitalization / Revenue 9.69x 6.74x 8x 3.97x 5.48x 5.42x
EV / Revenue 6.82x 4.96x 5.41x 2.87x 4.68x 4.89x
EV / EBITDA - - - - - -
EV / EBIT - - - - - -
EV / FCF - - - - - -
FCF Yield - - - - - -
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 2.435 3.67 3.449 6.33 1.4 2.51
Distribution rate - - - - - -
Net sales 1 321.8 526.5 534.6 1,062 1,463 1,635
EBITDA - - - - - -
EBIT - - - - - -
Net income 1 142.3 217.9 205.1 375.5 84.65 153.3
Net Debt 1 -923.2 -936 -1,386 -1,165 -1,159 -873.6
Reference price 2 53.36 59.60 71.86 70.57 132.17 144.88
Nbr of stocks (in thousands) 58,443 59,535 59,542 59,659 60,620 61,191
Announcement Date 6/15/21 5/31/22 8/4/23 6/14/24 6/13/25 6/1/26
1USD in Million2USD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 10.26B
16.81x7.34x - 1.97% 342B
14.86x10.76x - 1.81% 315B
12.39x - - 1.82% 231B
17.78x7.09x11.79x1.15% 193B
10.47x1.29x - 3.39% 61.12B
18.77x - - 0.33% 29.03B
11.05x8.43x - 3.74% 28.46B
16.31x5.27x - 3.38% 27.78B
6.76x - - 4.22% 26.32B
Average 13.91x 6.70x 11.79x 2.42% 126.37B
Weighted average by Cap. 15.04x 8.00x 11.79x 1.93%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Freedom Holding Corp.