Freedom Holding vs Piper Sandler Companies
Freedom Holding is the larger business, with $2.19bn of revenue in fiscal 2026 against $1.90bn for Piper Sandler Companies (1.2 times as much). Piper Sandler Companies grew faster (24.3% against 9.3%). Piper Sandler Companies kept more of each dollar of sales as profit: a net margin of 14.8% against 7.0%.
| Latest fiscal year | Freedom HoldingFRHC, 2026 | Piper Sandler CompaniesPIPR, 2025 |
|---|---|---|
| Revenue | $2.19bn | $1.90bn |
| Revenue growth | 9.3% | 24.3% |
| Net income | $153m | $281m |
| Operating margin | — | — |
| Net margin | 7.0% | 14.8% |
| Return on equity | 11.3% | 21.7% |
| Free cash flow | −$13.5m | $587m |
| Cash | $966m | $809m |
| Total debt | $1.26bn | $15.0m |
| Debt to equity | — | 1.1% |
| Dividend per share | — | — |
| Dividend yield | — | 3.1% |
| Share buybacks | — | $125m |
| Employees | — | 1,858 |
| Market value | $11.53bn | $4.48bn |
| Price vs our value range | — | — |
| Moat score | 67 (Moderate) | 42 (Weak) |
| Insider trades, 12 months | 2 buys, 26 sales | 0 buys, 19 sales |