FRHC vs. PAYP: Freedom vs. PayPay Stock Comparison

Company Profile

Freedom (FRHC) and PayPay (PAYP) both fall under the Financial Services industry group, but FRHC is classified in Capital Markets while PAYP is classified in Financial Services.

Freedom (FRHC) has been public since February 7, 2018 with a meaningfully longer listed history, while PayPay (PAYP) only listed on March 12, 2026 — long-window metrics on the PAYP side should be interpreted with caution.

Freedom (FRHC) trades as ordinary local shares, while PayPay (PAYP) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Risk-Adjusted Performance

Risk-Return Positioning

Both FRHC and PAYP need 1-year volatility and 1-year return to plot risk-return positioning.

Risk-Adjusted Metrics

Profitability

Both Freedom (FRHC) at 10.68% and PayPay (PAYP) at 18.80% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

Both Freedom (FRHC) at 8.43% and PayPay (PAYP) at 15.85% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

PayPay (PAYP) at 32.79% runs core operations around its industry’s norm, while Freedom (FRHC) at 5.01% operates in the bottom quartile.

Profitability Metrics

Growth

Both Freedom (FRHC) at 8.97% and PayPay (PAYP) at 25.85% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Both companies show strong earnings momentum, but PayPay (PAYP) at 230.06% is the standout with EPS growth above its industry range; Freedom (FRHC) at 98.93% also sits in the top quartile.

Growth Metrics

Financial Strength

current ratio doesn’t apply on either side: Freedom (FRHC) in Financial Services and PayPay (PAYP) 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-to-equity ratio is set aside for both: Freedom (FRHC) in Financial Services and PayPay (PAYP) 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

Dividends

Neither Freedom (FRHC) nor PayPay (PAYP) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

Neither Freedom (FRHC) nor PayPay (PAYP) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

Dividend Metrics

Valuation

PayPay (PAYP) at 23.30 is near its industry’s usual P/E ratio, while Freedom (FRHC) at 70.97 sits above its peer range — an unusually expensive price for FRHC’s trailing earnings.

PayPay (PAYP) at 0.02 looks cheap on sales in the lower P/S ratio quartile, while Freedom (FRHC) at 6.51 looks rich in the upper quartile — a clear gap in price per dollar of revenue.

Both Freedom (FRHC) at 7.16 and PayPay (PAYP) at 3.75 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

Valuation Metrics