FRHC vs. NDAQ: Freedom vs. Nasdaq Stock Comparison

November 11, 2026

How do Freedom (FRHC) and Nasdaq (NDAQ) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Freedom (FRHC) and Nasdaq (NDAQ) both belong to the Capital Markets industry, though FRHC is classified under Investment Banking & Brokerage while NDAQ falls under Financial Exchanges & Data.

Company profile comparison for Freedom (FRHC) and Nasdaq (NDAQ)
Profile Item	FRHC	NDAQ
Name	Freedom Holding Corp.	Nasdaq, Inc. Common Stock
Country/Region	United States	United States
GICS Sector	Financials	Financials
GICS Industry Group	Financial Services	Financial Services
GICS Industry	Capital Markets	Capital Markets
GICS Sub-Industry	Investment Banking & Brokerage	Financial Exchanges & Data
Market Capitalization	11.41 billion USD	59.88 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	February 7, 2018	July 1, 2002
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

FRHC

NDAQ

GSPC

Freedom (FRHC) vs. Nasdaq (NDAQ), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Freedom (FRHC) and Nasdaq (NDAQ). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Freedom (FRHC) and Nasdaq (NDAQ). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Freedom (FRHC) and Nasdaq (NDAQ)
Metric	FRHC	NDAQ
Total Return (1Y)	18.04%	26.55%
Total Return (3Y, Annualized)	28.04%	30.18%
Total Return (5Y, Annualized)	18.95%	10.68%

Risk Profile

Drawdown History

FRHC

NDAQ

GSPC

Freedom (FRHC) vs. Nasdaq (NDAQ), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Freedom (FRHC) and Nasdaq (NDAQ). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Freedom (FRHC) and Nasdaq (NDAQ)
Metric	FRHC	NDAQ
Volatility (1Y, Annualized)	47.01%	28.74%
Beta (5Y)	0.71	0.94
Max Drawdown (5Y)	-45.80%	-32.57%
Avg. Volume (3M)	108.35K	3.13M

Risk-Adjusted Performance

Risk-Return Positioning

FRHC and NDAQ are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Freedom (FRHC) and Nasdaq (NDAQ)
Metric	FRHC	NDAQ
Sharpe Ratio (1Y)	0.29	0.77
Sortino Ratio (1Y)	0.45	1.09

Profitability

ROE (TTM)

Both Freedom (FRHC) at 10.68% and Nasdaq (NDAQ) at 17.33% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

FRHC

Financial Services industry group

10.68%

Max: 44.78%
Q3: 21.85%
Median: 12.91%
FRHC: 10.68%
Q1: 4.48%
Min: -18.71%

NDAQ

Financial Services industry group

17.33%

Max: 44.78%
Q3: 21.85%
NDAQ: 17.33%
Median: 12.91%
Q1: 4.48%
Min: -18.71%

Freedom (FRHC) vs. Nasdaq (NDAQ): A comparison of their ROE against the Financial Services industry group benchmark.

Net Margin (TTM)

Nasdaq (NDAQ) at 36.06% retains a top-quartile share of revenue as profit, ahead of Freedom (FRHC) at 8.43%, which keeps about the industry-typical share.

FRHC

Financial Services industry group

8.43%

Max: 62.84%
Q3: 28.05%
Median: 15.36%
FRHC: 8.43%
Q1: 4.82%
Min: -28.52%

NDAQ

Financial Services industry group

36.06%

Max: 62.84%
NDAQ: 36.06%
Q3: 28.05%
Median: 15.36%
Q1: 4.82%
Min: -28.52%

Freedom (FRHC) vs. Nasdaq (NDAQ): A comparison of their net margin against the Financial Services industry group benchmark.

Operating Margin (TTM)

Nasdaq (NDAQ) at 50.57% runs core operations around its industry’s norm, while Freedom (FRHC) at 5.01% operates in the bottom quartile.

FRHC

Financial Services industry group

5.01%

Max: 107.33%
Q3: 55.90%
Median: 30.09%
Q1: 14.60%
FRHC: 5.01%
Min: -44.34%

NDAQ

Financial Services industry group

50.57%

Max: 107.33%
Q3: 55.90%
NDAQ: 50.57%
Median: 30.09%
Q1: 14.60%
Min: -44.34%

Freedom (FRHC) vs. Nasdaq (NDAQ): A comparison of their operating margin against the Financial Services industry group benchmark.

Profitability Metrics

Profitability metrics for Freedom (FRHC) and Nasdaq (NDAQ)
Metric	FRHC	NDAQ
ROE (TTM)	10.68%	17.33%
ROA (TTM)	1.24%	6.10%
Net Margin (TTM)	8.43%	36.06%
Operating Margin (TTM)	5.01%	50.57%
Gross Margin (TTM)	--	--

Growth

Revenue Growth

Both Freedom (FRHC) at 8.97% and Nasdaq (NDAQ) at 11.65% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Freedom (FRHC) vs. Nasdaq (NDAQ): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Freedom (FRHC) at 98.93% and Nasdaq (NDAQ) at 60.10% sit in the top peer quartile for EPS growth, so each is compounding per-share earnings faster than typical industry peers.

Freedom (FRHC) vs. Nasdaq (NDAQ): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Freedom (FRHC) and Nasdaq (NDAQ)
Metric	FRHC	NDAQ
Revenue Growth (YoY)	8.97%	11.65%
Revenue Growth (3Y CAGR)	39.61%	9.89%
EPS Growth (YoY)	98.93%	60.10%
EPS Growth (3Y CAGR)	-10.08%	10.99%

Financial Strength

Current Ratio (MRQ)

current ratio doesn’t apply on either side: Freedom (FRHC) in Financial Services and Nasdaq (NDAQ) in Financial Services both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.

Debt / Equity (MRQ)

debt-to-equity ratio is set aside for both: Freedom (FRHC) in Financial Services and Nasdaq (NDAQ) in Financial Services run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.

Financial Strength Metrics

Financial strength metrics for Freedom (FRHC) and Nasdaq (NDAQ)
Metric	FRHC	NDAQ
Current Ratio (MRQ)	--	--
Debt / Equity (MRQ)	--	--
Net Debt / EBITDA	--	--

Dividends

Dividend Yield (TTM)

Freedom (FRHC) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Nasdaq (NDAQ) reports a yield of 1.09%, ranking against industry peers normally.

FRHC

Financial Services industry group

0.00%

Max: 9.77%
Q3: 3.92%
Median: 1.09%
FRHC: 0.00%
Q1: 0.00%
Min: 0.00%

NDAQ

Financial Services industry group

1.09%

Max: 9.77%
Q3: 3.92%
Median: 1.09%
NDAQ: 1.09%
Q1: 0.00%
Min: 0.00%

Freedom (FRHC) vs. Nasdaq (NDAQ): A comparison of their dividend yield against the Financial Services industry group benchmark.

Dividend Payout Ratio (TTM)

Freedom (FRHC) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Nasdaq (NDAQ) reports a payout of 31.69%, ranking against industry peers normally.

FRHC

Financial Services industry group

0.00%

Max: 241.07%
Q3: 97.36%
Median: 25.77%
FRHC: 0.00%
Q1: 0.00%
Min: 0.00%

NDAQ

Financial Services industry group

31.69%

Max: 241.07%
Q3: 97.36%
NDAQ: 31.69%
Median: 25.77%
Q1: 0.00%
Min: 0.00%

Freedom (FRHC) vs. Nasdaq (NDAQ): A comparison of their payout ratio against the Financial Services industry group benchmark.

Dividend Metrics

Dividend metrics for Freedom (FRHC) and Nasdaq (NDAQ)
Metric	FRHC	NDAQ
Dividend Yield (TTM)	0.00%	1.09%
Dividend Payout Ratio (TTM)	0.00%	31.69%

Valuation

P/E Ratio (TTM)

Both look expensive on trailing earnings: Nasdaq (NDAQ) at 29.27 sits in the richer P/E ratio quartile, and Freedom (FRHC) at 70.97 is richer still, above its industry range.

FRHC

Financial Services industry group

70.97

FRHC: 70.97
Max: 45.85
Q3: 24.64
Median: 15.37
Q1: 9.68
Min: 0.16

NDAQ

Financial Services industry group

29.27

Max: 45.85
NDAQ: 29.27
Q3: 24.64
Median: 15.37
Q1: 9.68
Min: 0.16

Freedom (FRHC) vs. Nasdaq (NDAQ): A comparison of their P/E ratio against the Financial Services industry group benchmark.

P/S Ratio (TTM)

Both look expensive on sales: Freedom (FRHC) at 6.51 sits in the upper P/S ratio quartile, and Nasdaq (NDAQ) at 10.36 prices even higher, above its industry range.

FRHC

Financial Services industry group

6.51

Max: 9.23
FRHC: 6.51
Q3: 4.57
Median: 2.72
Q1: 1.28
Min: -0.55

NDAQ

Financial Services industry group

10.36

NDAQ: 10.36
Max: 9.23
Q3: 4.57
Median: 2.72
Q1: 1.28
Min: -0.55

Freedom (FRHC) vs. Nasdaq (NDAQ): A comparison of their P/S ratio against the Financial Services industry group benchmark.

P/B Ratio (MRQ)

Both Freedom (FRHC) at 7.16 and Nasdaq (NDAQ) at 4.99 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

FRHC

Financial Services industry group

7.16

Max: 7.79
FRHC: 7.16
Q3: 3.63
Median: 1.57
Q1: 0.81
Min: -0.39

NDAQ

Financial Services industry group

4.99

Max: 7.79
NDAQ: 4.99
Q3: 3.63
Median: 1.57
Q1: 0.81
Min: -0.39

Freedom (FRHC) vs. Nasdaq (NDAQ): A comparison of their P/B ratio against the Financial Services industry group benchmark.

Valuation Metrics

Valuation metrics for Freedom (FRHC) and Nasdaq (NDAQ)
Metric	FRHC	NDAQ
P/E Ratio (TTM)	70.97	29.27
P/S Ratio (TTM)	6.51	10.36
P/B Ratio (MRQ)	7.16	4.99
Free Cash Flow Yield (TTM)	--	--