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Heterostructures of ferromagnetic (FM) and noble metal (NM) thin films have recently attracted considerable interest as viable platforms for the ultrafast generation, control, and transduction of light-induced spin currents. In such systems, an ultrafast laser can generate a transient spin current in the FM layer, which is then converted to a charge current at the FM/NM interface due to strong spin–orbit coupling in the NM layer. Whether such conversion can happen in a single material and how the resulting spin current can be quantified are open questions under active study. Here, we report ultrafast THz emission from spin–charge conversion in a bare FeRh thin film without any NM layer. Our results highlight that the magnetic material by itself can enable spin–charge conversion in the same order as that in a FM/NM heterostructure. We further propose a simple model to estimate the light-induced spin current in FeRh across its metamagnetic phase transition temperature. Our findings have implications for the study of the ultrafast dynamics of magnetic order in quantum materials using THz emission spectroscopy.