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Freedom Holding vs SEI Investments: FRHC and SEIC compared
Freedom Holding is the larger company: $733M of revenue in its latest quarter (Q1 FY27) against $662M for SEI Investments (Q3 2026). Freedom Holding is growing faster (+40% against +14% a year earlier). SEI Investments is more profitable, with an operating margin of 29.9% against 5.6%.
Where the money goes: FRHC and SEIC
Freedom Holding (FRHC) · Q1 FY27
Freedom Holding, Q1 FY27: revenue $733M (+40% year over year), operating margin 5.6%, net earnings $31.7M, operating cash flow −$342M. The chart follows the revenue to costs, profit and cash.
SEI Investments (SEIC) · Q3 2026
SEI Investments, Q3 2026: revenue $662M (+14% year over year), operating margin 29.9%, net earnings $168M, operating cash flow $218M. The chart follows the revenue to costs, profit and cash.
| Freedom Holding (FRHC) | SEI Investments (SEIC) | |
|---|---|---|
| Latest quarter | Q1 FY27 | Q3 2026 |
| Revenue | $733M | $662M |
| Revenue growth, Y/Y | +40% | +14% |
| Gross margin | — | 35.1% |
| Operating margin | 5.6% | 29.9% |
| Net earnings | $31.7M | $168M |
| Net margin | 4.3% | 25.4% |
| Operating cash flow | −$342M | $218M |
| Free cash flow | — | $208M |
| Market value | $11.0B | $12.8B |
| P/E | 70.9× | 18.3× |
| Analysts’ mean target | — | $121.25 |
Where the revenue comes from
Freedom Holding
- Brokerage: $283M (39%)
- Banking: $225M (31%)
- Insurance: $151M (21%)
- Other: $73.9M (10%)
SEI Investments
- Asset management, administration and distribution fees: $533M (81%)
- Investment processing fees - PaaS: $90.4M (14%)
- Investment processing fees - SaaS: $26.0M (4%)
- Professional services fees: $12.3M (2%)
Questions
Which is bigger, Freedom Holding or SEI Investments?
Freedom Holding is the larger company: $733M of revenue in its latest quarter (Q1 FY27) against $662M for SEI Investments (Q3 2026).
Is Freedom Holding or SEI Investments growing faster?
Freedom Holding is growing faster (+40% against +14% a year earlier).
Which is more profitable, Freedom Holding or SEI Investments?
SEI Investments is more profitable, with an operating margin of 29.9% against 5.6%.
More: Freedom Holding earnings · how Freedom Holding makes money · SEI Investments earnings · how SEI Investments makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 10, 2026; 10-Q filed Oct 26, 2026). Fiscal quarters can end on different dates. Not investment advice.