Freedom Holding’s Breakthrough Summer: From Financial Results to Stanford

Over the past six weeks, Freedom Holding Corp. has experienced several important milestones that highlight the company’s growth and evolving role in the financial sector. Freedom Holding Corp. published its annual financial results, entered the Russell 3000 Index, confirmed its S&P credit rating of “B-,” became part of the First Trust Financials AlphaDEX ETF (FXO), and had its corporate story incorporated into the Stanford Graduate School of Business curriculum.

In June 2025, Freedom Holding Corp. reported its fiscal year results for the period ending March 31. Revenue reached $2.1 billion — a 23% increase compared to the previous year — fueled by strong performance across its business lines. Net income was driven by the success of its insurance services, Freedom Life and Freedom Insurance, which expanded pension annuity and accident insurance contracts. The company’s total net income stood at $84.5 million, with insurance services contributing $12.4 million. Additionally, commission income increased by 15% to $505 million, reflecting growing customer activity on its brokerage platforms.

Freedom Holding’s total assets grew 19% to nearly $9.9 billion, while liabilities increased 22% to $8.7 billion. Shares also showed solid performance, with earnings per share of  $1.43. By the beginning of July, the stock price reached $143.52 per share.

User engagement across the Freedom Holding’s ecosystem has expanded significantly: Freedom Broker now has 683,000 account holders; insurance services have 1.2 million clients; Freedom Bank serves 2.5 million customers; and Freedom SuperApp boasts over 2.3 million users.

Freedom Holding Corp.’s CEO, Timur Turlov, highlighted the company’s record market capitalization, saying: “The completed financial year marked a pivotal stage for our company — a time of deep transformations, overcoming challenges, and sustainable growth, we have reached a new level both in business scale and investor perception. Freedom Holding Corp. is now seen as a key player not only in Kazakhstan but across the region. Our achievements are the result of a long-term strategy and the trust of our investors, for which we are sincerely grateful.”

A landmark event was the inclusion of Freedom Holding Corp. in the First Trust Financials AlphaDEX ETF (FXO), a U.S.-focused financial sector fund tracking the StrataQuant Financials Index, which uses the AlphaDEX methodology to select stocks with potential for superior returns compared to traditional indices. The fund purchased 185,000 shares of Freedom Holding, representing a 1.22% weighting in FXO.

Another major achievement was Freedom Holding’s entry into the Russell 3000 Index, which tracks over 3,000 of the largest U.S. publicly traded companies and covers approximately 98% of the American equity market. This inclusion signals the company’s stability, growth prospects, and increased investor confidence. This is further confirmed by the upgraded “B+” credit rating (with a positive outlook) granted to Freedom Holding Corp.’s subsidiaries by S&P Global Ratings, an improvement from the previous “stable” outlook.

Freedom Holding’s strategic development attracted the attention of the Stanford Graduate School of Business, which included the Freedom Holding Corp. case study in its MBA program. The curriculum covers the success of the holding company’s subsidiary Tradernet, the growth of multiple fintech services amid competition, and financial literacy programs for Freedom Finance users.

“When we started, everything looked very different. We had no major investors, no brand recognition, no international backing. We began with basic tools, minimal capital, and the idea that was considered too bold or even impossible at the time. We have traveled the path from a local broker to a full-fledged digital ecosystem with offices in twenty two countries, proprietary infrastructure, and products that simply didn’t exist before. This journey was not straightforward — there were mistakes, reassessments, and clashes,” Timur Turlov reflected on  Stanford’s case study.

The Stanford course tells the story of the success of Freedom Holding Corp. — from the company’s origins to its NASDAQ listing, and the creation of the largest IT ecosystem in Kazakhstan.