Freedom HoldingSTU:DMW2 -5.08%84 ROE % is 2.23% as of Mar. 2026, which is 91% below its 10-year median of 24.94. GuruFocus rates STU:DMW2 with a GF Score™ of 84/100 and a GF Value™ of €133.71 (Modestly Undervalued). The stock has 11 warning signs investors should review. Among 493 Diversified Financial Services companies, Freedom Holding ranks better than 90.67% on this metric.
The historical rank and industry rank for Freedom Holding's ROE % or its related term are showing as below:
STU:DMW2'
s ROE % Range Over the Past 10 Years
Min: 5.84 Med: 24.94 Max: 73.25
Current: 11.69
During the past 13 years, Freedom Holding's highest ROE % was 73.25%. The lowest was 5.84%. And the median was 24.94%.
STU:DMW2's ROE % is ranked better than 90.67% of 493
companies
in the Diversified Financial Services industry
Industry Median: 1.65
vs STU:DMW2: 11.69
Freedom Holding (STU:DMW2) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
Freedom Holding ROE % Related Terms
Freedom Holding ROE % Historical Data
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The historical data trend for Freedom Holding's ROE % 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.
For the Financial Conglomerates subindustry, Freedom Holding's ROE %, along with its competitors' market caps and ROE % 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 ROE % vs Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, Freedom Holding's ROE % distribution charts can be found below:
* The bar in red indicates where Freedom Holding's ROE % 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Freedom Holding (STU:DMW2) has a ROE % of 2.23% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Freedom Holding and its competitors. This is 91% below median its historical median of 24.94. Over the past decade, Freedom Holding's ROE % has ranged from 5.84 to 73.25. According to the industry distribution chart, Freedom Holding ranks #46 out of 493 companies in the Diversified Financial Services industry, placing it in the top 9.3%.
Is Freedom Holding's ROE % too high?
Freedom Holding's current ROE % of 2.23% is 91% below median its 10-year median of 24.94. Over the past 10 years, this metric has ranged from a low of 5.84 to a high of 73.25. The Diversified Financial Services industry median ROE % is 1.65. Freedom Holding's value of 2.23% is 35.2% above this industry median. Based on the distribution chart, Freedom Holding ranks #46 out of 493 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 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Freedom Holding's ROE % compare to VOYA and HTH?
According to the Diversified Financial Services industry distribution chart, Freedom Holding ranks #46 out of 493 companies for ROE %. This places Freedom Holding in the top 9% of its industry — outperforming the majority of peers. The industry median ROE % is 1.65. Freedom Holding's value of 2.23% is 35.2% above this benchmark. Historically, Freedom Holding's own ROE % has ranged from 5.84 to 73.25 over the past decade. While the company's 10-year median is 24.94 vs. the industry median of 1.65, 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 ROE % for a Diversified Financial Services company?
The median ROE % among Diversified Financial Services companies is 1.65, based on 493 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Freedom Holding's current ROE % of 2.23% is 35.2% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Freedom Holding and its competitors. For the Diversified Financial Services industry, the median ROE % is 1.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Freedom Holding's current ROE % is 2.23%, which is 91% below median its own 10-year median of 24.94. 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 (STU:DMW2) is currently considered Modestly Undervalued. The stock's GF Value™ is €133.71, compared to a current price of €112.00 — trading 16.2% below its estimated fair value. The current ROE % is 2.23%, which is 91% below median its 10-year median of 24.94 and 35.2% above the Diversified Financial Services industry median of 1.65. Freedom Holding's overall GF Score™ is 84/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Freedom Holding (STU:DMW2), the current ROE % is 2.23% 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 (STU:DMW2) Overvalued in 2026?
Based on GuruFocus' analysis, Freedom Holding stock appears to be undervalued.
The current stock price of €112.00 is trading 16.2% below its estimated GF Value™ of €133.71.
GuruFocus considers Freedom Holding to be Modestly Undervalued.
Key valuation signals for STU:DMW2:
ROE %: 2.23% (91% below median its 10-year median of 24.94)
GF Value™: €133.71 vs. price of €112.00 (16.2% below fair value)
Industry Position: 35.2% above the Diversified Financial Services median (#46 of 493)
No single metric tells the full story. See the STU:DMW2 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.
84GF Score
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