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Virtu Financial vs Freedom Holding: VIRT and FRHC compared
Virtu Financial is the larger company: $1.2B of revenue in its latest quarter (Q3 2026) against $733M for Freedom Holding (Q1 FY27). Virtu Financial is growing faster (+40% against +40% a year earlier). Virtu Financial is more profitable, with an operating margin of 28.7% against 5.6%.
Where the money goes: VIRT and FRHC
Virtu Financial (VIRT) · Q3 2026
Virtu Financial, Q3 2026: revenue $1.2B (+40% year over year), operating margin 28.7%, net earnings $153M, operating cash flow $344M. The chart follows the revenue to costs, profit and cash.
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.
| Virtu Financial (VIRT) | Freedom Holding (FRHC) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q1 FY27 |
| Revenue | $1.2B | $733M |
| Revenue growth, Y/Y | +40% | +40% |
| Operating margin | 28.7% | 5.6% |
| Net earnings | $153M | $31.7M |
| Net margin | 13.3% | 4.3% |
| Operating cash flow | $344M | −$342M |
| Free cash flow | $281M | — |
| Market value | $4.8B | $11.0B |
| P/E | 4.0× | 70.9× |
| Analysts’ mean target | $69.43 | — |
Where the revenue comes from
Freedom Holding
- Brokerage: $283M (39%)
- Banking: $225M (31%)
- Insurance: $151M (21%)
- Other: $73.9M (10%)
Questions
Which is bigger, Virtu Financial or Freedom Holding?
Virtu Financial is the larger company: $1.2B of revenue in its latest quarter (Q3 2026) against $733M for Freedom Holding (Q1 FY27).
Is Virtu Financial or Freedom Holding growing faster?
Virtu Financial is growing faster (+40% against +40% a year earlier).
Which is more profitable, Virtu Financial or Freedom Holding?
Virtu Financial is more profitable, with an operating margin of 28.7% against 5.6%.
More: Virtu Financial earnings · how Virtu Financial makes money · Freedom Holding earnings · how Freedom Holding makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Aug 10, 2026). Fiscal quarters can end on different dates. Not investment advice.