FRHCFreedom Holding Corp.
Security Brokers, Dealers & Flotation Companies
- Revenue
- $97M
- 143% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$1.4B net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear121% of net incomeCash flow under 80% of net income
- Dilutive SBCFired70% of revenueOver 10% of revenue
- Payouts exceed cash flowClear-31% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear0% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $690M | $0 | $22M | $40M | $97M | 143% |
| Net income | $227M | $205M | $379M | $76M | $153M | 101% |
| Operating cash flow | −$406M | −$952M | −$1.1B | $1.7B | $185M | 89% |
| Capex | $6M | $39M | $37M | $81M | $199M | 146% |
| Stock-based comp | $8M | $9M | $23M | $60M | $68M | 14% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $17M | $17M | 243 | 129 |
| FY2025 | $8M | $8M | 248 | 147 |
| FY2024 | $8M | $8M | 497 | 203 |
| FY2023 | $1M | $1M | 506 | 155 |
| FY2022 | $1M | $1M | 420 | 184 |