Freedom HoldingFRHC +20.40%73 Net Current Asset Value is $8.35 as of Mar. 2026, which is 24% above its 10-year median of 6.76. GuruFocus rates FRHC with a GF Score™ of 73/100 and a GF Value™ of $153.67 (Fairly Valued). The stock has 11 warning signs investors should review. Among 202 Diversified Financial Services companies, Freedom Holding ranks worse than 81.19% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Freedom Holding's net current asset value per share for the quarter that ended in Mar. 2026 was $8.35.
The historical rank and industry rank for Freedom Holding's Net Current Asset Value or its related term are showing as below:
FRHC'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 2.23 Med: 6.76 Max: 18.82
Current: 18.82
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Freedom Holding was 18.82. The lowest was 2.23. And the median was 6.76.
FRHC's Price-to-Net-Current-Asset-Value is ranked worse than 81.19% of 202
companies
in the Diversified Financial Services industry
Industry Median: 2.035
vs FRHC: 18.82
Freedom Holding (NAS:FRHC) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Freedom Holding Net Current Asset Value Related Terms
Freedom Holding Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Freedom Holding's Net Current Asset Value can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRHC vs VOYA, HTH, TMS: Net Current Asset Value Comparison
For the Financial Conglomerates subindustry, Freedom Holding's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Freedom Holding Price-to-Net-Current-Asset-Value vs Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, Freedom Holding's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Freedom Holding's Price-to-Net-Current-Asset-Value falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Net Current Asset Value of $8.35 mean?
Freedom Holding (FRHC) has a Net Current Asset Value of $8.35 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Freedom Holding and its competitors. This is 24% above median its historical median of 6.76. Over the past decade, Freedom Holding's Net Current Asset Value has ranged from 2.23 to 18.82. According to the industry distribution chart, Freedom Holding ranks #164 out of 202 companies in the Diversified Financial Services industry, placing it in the top 81.2%.
Is Freedom Holding's Net Current Asset Value too high?
Freedom Holding's current Net Current Asset Value of $8.35 is 24% above median its 10-year median of 6.76. Over the past 10 years, this metric has ranged from a low of 2.23 to a high of 18.82. The Diversified Financial Services industry median Net Current Asset Value is 2.04. Freedom Holding's value of $8.35 is 310.3% above this industry median. Based on the distribution chart, Freedom Holding ranks #164 out of 202 companies in the Diversified Financial Services industry, which is in the bottom quartile relative to peers. Overall, Freedom Holding has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Freedom Holding's Net Current Asset Value compare to VOYA and HTH?
According to the Diversified Financial Services industry distribution chart, Freedom Holding ranks #164 out of 202 companies for Net Current Asset Value. This places Freedom Holding in the lower half of its industry. The industry median Net Current Asset Value is 2.04. Freedom Holding's value of $8.35 is 310.3% above this benchmark. Historically, Freedom Holding's own Net Current Asset Value has ranged from 2.23 to 18.82 over the past decade. While the company's 10-year median is 6.76 vs. the industry median of 2.04, Freedom Holding has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for a Diversified Financial Services company?
The median Net Current Asset Value among Diversified Financial Services companies is 2.04, based on 202 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Freedom Holding's current Net Current Asset Value of $8.35 is 310.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Freedom Holding and its competitors. For the Diversified Financial Services industry, the median Net Current Asset Value is 2.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Freedom Holding's current Net Current Asset Value is $8.35, which is 24% above median its own 10-year median of 6.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Freedom Holding stock overvalued right now?
Based on GuruFocus' analysis, Freedom Holding (FRHC) is currently considered Fairly Valued. The stock's GF Value™ is $153.67, compared to a current price of $157.11 — trading 2.2% above its estimated fair value. The current Net Current Asset Value is $8.35, which is 24% above median its 10-year median of 6.76 and 310.3% above the Diversified Financial Services industry median of 2.04. Freedom Holding's overall GF Score™ is 73/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Freedom Holding (FRHC), the current Net Current Asset Value is $8.35 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Freedom Holding (FRHC) Overvalued in 2026?
Based on GuruFocus' analysis, Freedom Holding stock appears to be overvalued.
The current stock price of $157.11 is trading 2.2% above its estimated GF Value™ of $153.67.
GuruFocus considers Freedom Holding to be Fairly Valued.
Key valuation signals for FRHC:
Net Current Asset Value: $8.35 (24% above median its 10-year median of 6.76)
GF Value™: $153.67 vs. price of $157.11 (2.2% above fair value)
Industry Position: 310.3% above the Diversified Financial Services median (#164 of 202)
No single metric tells the full story. See the FRHC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Freedom Holding Corp is a holding company with its subsidiary it is engaged in securities brokerage, securities dealing for customers and account, market-making activities, investment research, investment counseling, investment banking services, retail and commercial banking, insurance products, payment services, and information processing services. It acts as a professional participant through its subsidiaries on the Kazakhstan Stock Exchange (KASE), Moscow Exchange (MOEX), Saint-Petersburg Exchange (SPB), the Ukrainian Exchange, the Uzbek Republican Currency Exchange (UZCE), and the Republican Stock Exchange of Tashkent (UZSE). Its segments are Brokerage, Banking, Insurance, and Others.
73GF Score
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Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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