Freedom Holding Corp., through its subsidiaries, provides retail securities brokerage, research, investment counseling, securities trading, market making, corporate investment banking, and underwriting services.
The last earnings update was 48 days ago.
Discounted Cash Flow Calculation for NasdaqCM:FRHC using Excess Returns Model Model
The calculations below outline how an intrinsic value for Freedom Holding is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.
In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.
The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.
The current share price of
is above its future cash flow value.
Often investors are willing to pay a
for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.
The amount the stock market is willing to pay for
is considered below, and whether this is a fair price.
Price based on past earnings
Freedom Holding's earnings available for a low price, and how does
this compare to other companies in the same industry?
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Freedom Holding has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.
Show me the analysis anyway
The future performance of a company is measured in the same way as past
performance, by looking at estimated
and how much profit it is expected to make.
Future estimates come from
professional analysts. Just like forecasting the weather, they don’t always get
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
expected to grow at an
Unable to compare Freedom Holding's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
Unable to compare Freedom Holding's earnings growth to the United States of America market average as no estimate data is available.
Unable to compare Freedom Holding's revenue growth to the United States of America market average as no estimate data is available.
Unable to determine if Freedom Holding is high growth as no earnings estimate data is available.
Unable to determine if Freedom Holding is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can
be gauged below. We look back 3 years and see if they were any good at
predicting what actually occurred. We also show the highest and lowest estimates
looking forward to see if there is a wide range.
Freedom Holding's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent
earnings report. Some checks require at least 3 or 5 years worth of data.
has a total score of
4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Management is one of the most important areas of a company. We look at
unreasonable CEO compensation, how long the team and board of directors have
been around for and insider trading.
TENURE AS CEO
Mr. Timur R. Turlov has been Chief Executive Officer of BMB Munai, Inc. since September 2015. Mr. Turlov served as the General Director and Chief Accountant of Investment Company Duntonse LLC from May 2011 to December 2011. He has also served as the General Director of Investment Company Freedom Finance LLC. since August 2001. Mr. Turlov served as the Vice Director of the International Sales Department of Nettrade LLC from July 2010 to August 2011. Mr. Turlov has served as the Advisor to the Chairman of the Board of Freedom Finance JSC Since July 2013. He serves as the Chairman at BMB Munai, Inc. and has been its Director since September 2015. Mr. Turlov served as the Chairman of the Board of Directors of Nomad Finance JSC from January 2013 through May 2012. Mr. Turlov graduated from Russia State Technic University (named after Tsialkovskiy) in 2009 with a Bachelor of Science degree in economics and management. Mr. Turlov has more than 10 years of experience in various areas in the international securities industry.
Timur's compensation has been consistent with company performance over the past year, both up more than 20%.
Timur's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the
management team in years:
The tenure for the Freedom Holding management team is about average.
CEO & Chairman of the Board
President & Director
Chief Financial Officer
Board of Directors Tenure
Average tenure and age of the
board of directors in years:
The average tenure for the Freedom Holding board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors
CEO & Chairman of the Board
President & Director
Who owns this company?
Recent Insider Trading
More shares have been bought than sold by Freedom Holding individual insiders in the past 3 months.
Freedom Holding Corp., through its subsidiaries, provides retail securities brokerage, research, investment counseling, securities trading, market making, corporate investment banking, and underwriting services. The company offers investment brokerage services for exchange-traded and over-the-counter corporate equity and debt securities, money market instruments, exchange traded options and futures contracts, government bonds, and mutual funds; Margin Lending services collateralized by securities and cash in the customer’s account; various investment education and training courses; and investment research services. It also provides capital raising solutions for corporate clients through initial public offerings and follow-on offerings; debt capital markets solutions that focuses on structuring and distributing private and public debt for various purposes, including buyouts, acquisitions, growth capital financings, and recapitalizations. In addition, the company is involved in the proprietary trading and investment activities; and trading and brokerage activities. Further, it act as an intermediary between borrowers and lenders of short-term funds and provide funding for various inventory positions; and employs repurchase and reverse repurchase agreements in proprietary trading activities. It has operations primarily in Russia, Kazakhstan, Ukraine, Uzbekistan, Kyrgyzstan, and Cyprus. The company was formerly known as BMB Munai, Inc. and changed its name to Freedom Holding Corp. Freedom Holding Corp. was incorporated in 1981 and is headquartered in Almaty, Kazakhstan.
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