Freedom HoldingFRHC +3.25%72 ROC (Joel Greenblatt) % is 181.76% as of Mar. 2026, which is 50% below its 10-year median of 363.74. GuruFocus rates FRHC with a GF Score™ of 72/100 and a GF Value™ of $153.90 (Fairly Valued). The stock has 11 warning signs investors should review. Among 327 Diversified Financial Services companies, Freedom Holding ranks better than 79.82% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Freedom Holding's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 181.76%.
The historical rank and industry rank for Freedom Holding's ROC (Joel Greenblatt) % or its related term are showing as below:
FRHC'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 130.2 Med: 363.74 Max: 1938.97
Current: 229.04
During the past 13 years, Freedom Holding's highest ROC (Joel Greenblatt) % was 1938.97%. The lowest was 130.20%. And the median was 363.74%.
FRHC's ROC (Joel Greenblatt) % is ranked better than 79.82% of 327
companies
in the Diversified Financial Services industry
Industry Median: -299.33
vs FRHC: 229.04
Freedom Holding's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -26.20% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Freedom Holding ROC (Joel Greenblatt) % Related Terms
Freedom Holding ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Freedom Holding's ROC (Joel Greenblatt) % 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: ROC (Joel Greenblatt) % Comparison
For the Financial Conglomerates subindustry, Freedom Holding's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, Freedom Holding's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Freedom Holding's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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 ROC (Joel Greenblatt) % of 181.76% mean?
Freedom Holding (FRHC) has a ROC (Joel Greenblatt) % of 181.76% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Freedom Holding and its competitors. This is 50% below median its historical median of 363.74. Over the past decade, Freedom Holding's ROC (Joel Greenblatt) % has ranged from 130.20 to 1,938.97. According to the industry distribution chart, Freedom Holding ranks #66 out of 327 companies in the Diversified Financial Services industry, placing it in the top 20.2%.
Is Freedom Holding's ROC (Joel Greenblatt) % too high?
Freedom Holding's current ROC (Joel Greenblatt) % of 181.76% is 50% below median its 10-year median of 363.74. Over the past 10 years, this metric has ranged from a low of 130.20 to a high of 1,938.97. Based on the distribution chart, Freedom Holding ranks #66 out of 327 companies in the Diversified Financial Services industry, which is in the top quartile — a strong position relative to peers. Overall, Freedom Holding has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Freedom Holding's ROC (Joel Greenblatt) % compare to VOYA and HTH?
According to the Diversified Financial Services industry distribution chart, Freedom Holding ranks #66 out of 327 companies for ROC (Joel Greenblatt) %. This places Freedom Holding in the top 20% of its industry — outperforming the majority of peers. Historically, Freedom Holding's own ROC (Joel Greenblatt) % has ranged from 130.20 to 1,938.97 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Diversified Financial Services company?
A good ROC (Joel Greenblatt) % depends on the Diversified Financial Services industry context. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Freedom Holding and its competitors. Freedom Holding's current ROC (Joel Greenblatt) % is 181.76%, which is 50% below median its own 10-year median of 363.74. 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 $153.90, compared to a current price of $162.22 — trading 5.4% above its estimated fair value. The current ROC (Joel Greenblatt) % is 181.76%, which is 50% below median its 10-year median of 363.74. Freedom Holding's overall GF Score™ is 72/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Freedom Holding (FRHC), the current ROC (Joel Greenblatt) % is 181.76% 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 $162.22 is trading 5.4% above its estimated GF Value™ of $153.90.
GuruFocus considers Freedom Holding to be Fairly Valued.
Key valuation signals for FRHC:
ROC (Joel Greenblatt) %: 181.76% (50% below median its 10-year median of 363.74)
GF Value™: $153.90 vs. price of $162.22 (5.4% above fair value)
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.
72GF Score
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