NYSE : WHG
Westwood Holdings Group, Inc. — Financial statements
Financials · Asset Management · United States
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Financial statements
Westwood Holdings Group, Inc. (WHG) reported revenue of 101.70M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 100.60M | 97.42M | 93.05M | 89.25M | 69.39M | 73.39M |
| Other Revenue | 1.10M | 346.00K | 1.67M | 534.00K | -708.00K | -339.00K |
| Revenue | 101.70M | 97.76M | 94.72M | 89.78M | 68.68M | 73.05M |
| Cost of Revenue | 60.07M | 56.69M | 56.01M | 52.92M | 40.12M | 42.53M |
| Gross Profit | 41.63M | 41.08M | 38.71M | 36.86M | 28.56M | 30.52M |
| Selling, General & Admin | 36.89M | 36.10M | 33.00M | 33.42M | 26.34M | 24.56M |
| Operating Expenses | 36.89M | 36.10M | 33.00M | 33.42M | 26.34M | 24.56M |
| Operating Income | 4.74M | 4.97M | 5.71M | 3.45M | 2.22M | 5.96M |
| Interest & Investment Income | 1.49M | 1.66M | 2.18M | 1.19M | 266.00K | 868.00K |
| Other Non Operating Income (Expenses) | 505.00K | 1.12M | 1.00M | 6.24M | 907.00K | 602.00K |
| EBT Excluding Unusual Items | 6.73M | 7.75M | 8.90M | 10.88M | 3.39M | 7.43M |
| Merger & Restructuring Charges | -209.00K | -7.09M | ||||
| Gain (Loss) on Sale of Investments | 3.96M | 1.93M | 6.00K | -1.50M | 6.57M | |
| Other Unusual Items | -4.88M | 2.77M | ||||
| Pretax Income | 10.70M | 9.68M | 4.01M | 13.44M | -5.20M | 14.00M |
| Income Tax Expense | 2.82M | 2.60M | 1.80M | 2.87M | -567.00K | 4.24M |
| Earnings From Continuing Operations | 7.88M | 7.08M | 2.21M | 10.57M | -4.63M | 9.76M |
| Minority Interest in Earnings | -16.00K | -19.00K | 4.00K | -1.05M | ||
| Net Income | 7.86M | 7.06M | 2.21M | 9.52M | -4.63M | 9.76M |
| Net Income to Common | 7.86M | 7.06M | 2.21M | 9.52M | -4.63M | 9.76M |
| Shares Outstanding (Basic) | 8.50M | 8.37M | 8.16M | 7.96M | 7.84M | 7.88M |
| Shares Outstanding (Diluted) | 9.02M | 8.89M | 8.52M | 8.11M | 7.84M | 7.93M |
| EPS (Basic) | 0.93 | 0.84 | 0.27 | 1.20 | -0.59 | 1.24 |
| EPS (Diluted) | 0.86 | 0.79 | 0.26 | 1.17 | -0.59 | 1.23 |
| Free Cash Flow | 16.64M | 18.84M | 21.01M | -1.33M | 51.17M | 19.21M |
| Free Cash Flow Per Share | 1.84 | 2.12 | 2.47 | -0.16 | 6.52 | 2.42 |
| Dividend Per Share | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 | 0.45 |
| Gross Margin | 40.93% | 42.02% | 40.87% | 41.06% | 41.58% | 41.78% |
| Operating Margin | 4.66% | 5.09% | 6.03% | 3.84% | 3.23% | 8.16% |
| Profit Margin | 7.73% | 7.22% | 2.34% | 10.60% | -6.74% | 13.36% |
| Free Cash Flow Margin | 16.36% | 19.27% | 22.18% | -1.48% | 74.50% | 26.29% |
| EBITDA | 8.46M | 9.42M | 10.46M | 8.27M | 4.80M | 8.33M |
| EBITDA Margin | 8.32% | 9.63% | 11.04% | 9.21% | 6.98% | 11.41% |
| D&A For EBITDA | 3.72M | 4.45M | 4.75M | 4.82M | 2.58M | 2.37M |
| EBIT | 4.74M | 4.97M | 5.71M | 3.45M | 2.22M | 5.96M |
| EBIT Margin | 4.66% | 5.09% | 6.03% | 3.84% | 3.23% | 8.16% |
| Effective Tax Rate | 26.35% | 26.87% | 44.93% | 21.36% | 30.28% | |
| Revenue as Reported | 101.70M | 97.76M | 94.72M | 89.78M | 68.68M | 73.05M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 22.62M | 26.25M | 18.85M | 20.42M | 23.86M | 15.21M |
| Trading Asset Securities | 17.89M | 25.75M | 32.67M | 15.34M | 65.02M | |
| Cash & Short-Term Investments | 22.62M | 44.14M | 44.59M | 53.10M | 39.20M | 80.23M |
| Accounts Receivable | 16.15M | 16.75M | 14.45M | 14.39M | 13.90M | 11.15M |
| Other Receivables | 295.00K | 205.00K | 446.00K | 233.00K | ||
| Receivables | 16.15M | 16.75M | 14.75M | 14.60M | 14.35M | 11.38M |
| Other Current Assets | 4.64M | 2.25M | ||||
| Total Current Assets | 38.77M | 60.89M | 59.34M | 67.69M | 58.19M | 93.86M |
| Property, Plant & Equipment | 12.44M | 10.21M | 3.51M | 5.12M | 6.80M | 6.98M |
| Long-Term Investments | 38.11M | 23.55M | 16.94M | 11.77M | 14.06M | 8.97M |
| Goodwill | 39.50M | 39.50M | 39.50M | 39.50M | 35.73M | 16.40M |
| Other Intangible Assets | 16.77M | 18.20M | 21.67M | 24.80M | 28.95M | 11.91M |
| Long-Term Deferred Tax Assets | 2.38M | 2.45M | 2.24M | 726.00K | 1.76M | 848.00K |
| Other Long-Term Assets | 7.41M | 7.50M | 6.78M | 5.55M | 929.00K | 634.00K |
| Total Assets | 155.38M | 162.30M | 149.99M | 155.17M | 146.43M | 139.60M |
| Accounts Payable | 4.44M | 7.58M | 6.41M | 6.13M | 4.68M | 2.64M |
| Accrued Expenses | 8.19M | 13.63M | 10.92M | 9.54M | 9.69M | 9.53M |
| Current Portion of Leases | -1.89M | 4.55M | 1.50M | 1.41M | ||
| Current Income Taxes Payable | 286.00K | 1.49M | 466.00K | |||
| Other Current Liabilities | 2.60M | 2.70M | 2.47M | 2.37M | 1.75M | 1.80M |
| Total Current Liabilities | 15.51M | 23.52M | 19.80M | 22.59M | 17.61M | 15.84M |
| Long-Term Leases | 12.41M | 12.06M | 3.20M | 4.56M | 4.72M | |
| Other Long-Term Liabilities | 4.66M | 10.13M | 13.60M | 1.13M | ||
| Total Liabilities | 27.92M | 35.58M | 27.66M | 32.72M | 35.78M | 21.70M |
| Common Stock | 127.00K | 124.00K | 122.00K | 119.00K | 115.00K | 107.00K |
| Additional Paid-In Capital | 208.67M | 206.12M | 202.24M | 201.62M | 199.91M | 195.19M |
| Retained Earnings | 8.44M | 8.98M | 6.21M | 4.65M | -4.25M | 4.36M |
| Treasury Stock | -90.90M | -89.61M | -88.28M | -85.99M | -85.13M | -81.75M |
| Total Common Equity | 126.34M | 125.61M | 120.29M | 120.40M | 110.65M | 117.91M |
| Minority Interest | 1.12M | 1.11M | 2.04M | 2.04M | ||
| Shareholders' Equity | 127.45M | 126.72M | 122.33M | 122.45M | 110.65M | 117.91M |
| Total Liabilities & Equity | 155.38M | 162.30M | 149.99M | 155.17M | 146.43M | 139.60M |
| Total Debt | 12.41M | 10.17M | 3.20M | 4.55M | 6.07M | 6.13M |
| Net Cash (Debt) | 10.21M | 33.97M | 41.40M | 48.54M | 33.14M | 74.10M |
| Net Cash Per Share | 1.13 | 3.82 | 4.86 | 5.98 | 4.22 | 9.35 |
| Filing Date Shares Outstanding | 8.57M | 8.51M | 8.31M | 7.93M | 8.14M | 7.82M |
| Total Common Shares Outstanding | 8.57M | 8.42M | 8.16M | 8.01M | 7.78M | 7.82M |
| Working Capital | 23.25M | 37.37M | 39.54M | 45.11M | 40.58M | 78.02M |
| Book Value Per Share | 14.75 | 14.92 | 14.74 | 15.04 | 14.23 | 15.08 |
| Tangible Book Value | 70.07M | 67.92M | 59.12M | 56.10M | 45.96M | 89.59M |
| Tangible Book Value Per Share | 8.18 | 8.07 | 7.24 | 7.01 | 5.91 | 11.46 |
| Machinery | 4.32M | 4.24M | 6.35M | 6.10M | 5.79M | |
| Leasehold Improvements | 5.17M | 5.14M | 5.17M | 4.92M | 4.96M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 7.86M | 7.06M | 2.21M | 9.52M | -4.63M | 9.76M |
| Depreciation & Amortization | 3.72M | 4.45M | 4.75M | 4.82M | 2.58M | 2.37M |
| Loss (Gain) From Sale of Assets | 16.00K | 69.00K | -148.00K | |||
| Loss (Gain) From Sale of Investments | -635.00K | 4.39M | 5.26M | -17.45M | 2.14M | -6.53M |
| Stock-Based Compensation | 5.08M | 5.15M | 5.54M | 6.52M | 6.00M | 5.83M |
| Other Operating Activities | 691.00K | -3.62M | 4.47M | -4.70M | 194.00K | 1.85M |
| Change in Accounts Receivable | -819.00K | -2.30M | -59.00K | 135.00K | -313.00K | -1.70M |
| Change in Accounts Payable | -830.00K | 1.17M | 283.00K | -447.00K | 1.25M | 1.01M |
| Change in Income Taxes | 453.00K | 1.79M | -90.00K | 241.00K | -687.00K | 1.75M |
| Change in Other Net Operating Assets | 4.00M | 834.00K | -1.24M | 105.00K | -4.02M | 662.00K |
| Operating Cash Flow | 19.54M | 18.92M | 21.12M | -1.19M | 51.49M | 19.39M |
| Capital Expenditures | -2.90M | -86.00K | -109.00K | -147.00K | -320.00K | -178.00K |
| Sale of Property, Plant & Equipment | 501.00K | |||||
| Cash Acquisitions | -741.00K | -33.42M | ||||
| Sale (Purchase) of Intangibles | -449.00K | -1.00M | ||||
| Investment in Securities | -1.73M | -3.13M | -3.50M | 9.24M | ||
| Other Investing Activities | 5.00M | |||||
| Investing Cash Flow | -4.63M | -3.67M | -4.61M | 4.11M | -33.74M | 9.57M |
| Repurchase of Common Stock | -1.29M | -1.33M | -2.29M | -862.00K | -3.48M | -3.87M |
| Common Dividends Paid | -5.46M | -5.37M | -5.44M | -5.50M | -5.62M | -22.93M |
| Other Financing Activities | -953.00K | -1.15M | -10.36M | |||
| Financing Cash Flow | -7.70M | -7.85M | -18.08M | -6.36M | -9.10M | -26.81M |
| Foreign Exchange Rate Adjustments | 5.00K | 45.00K | ||||
| Net Cash Flow | 7.21M | 7.40M | -1.57M | -3.44M | 8.65M | 2.19M |
| Free Cash Flow | 16.64M | 18.84M | 21.01M | -1.33M | 51.17M | 19.21M |
| Free Cash Flow Margin | 16.36% | 19.27% | 22.18% | -1.48% | 74.50% | 26.29% |
| Free Cash Flow Per Share | 1.84 | 2.12 | 2.47 | -0.16 | 6.52 | 2.42 |
| Levered Free Cash Flow | 10.28M | 15.77M | 14.36M | 19.66M | 5.96M | 16.24M |
| Unlevered Free Cash Flow | 10.28M | 15.77M | 14.36M | 19.66M | 5.96M | 16.24M |
| Cash Income Tax Paid | 2.40M | 1.02M | 3.43M | 1.59M | 1.86M | 1.86M |
| Change in Working Capital | 2.80M | 1.50M | -1.11M | 34.00K | 45.21M | 6.23M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 160.29M | 143.48M | 118.09M | 101.08M | 88.86M | 132.30M |
| Enterprise Value | 150.09M | 116.57M | 75.34M | 59.33M | 21.25M | 62.24M |
| Last Close Price | 18.71 | 16.77 | 13.63 | 11.27 | 9.47 | 13.82 |
| PE Ratio | 21.66 | 20.33 | 53.31 | 10.62 | 13.55 | |
| Forward PE | 19.70 | 19.70 | 19.70 | 19.70 | 19.70 | |
| PS Ratio | 1.58 | 1.47 | 1.25 | 1.13 | 1.29 | 1.81 |
| PB Ratio | 1.27 | 1.13 | 0.96 | 0.83 | 0.80 | 1.12 |
| P/TBV Ratio | 2.29 | 2.11 | 2.00 | 1.80 | 1.93 | 1.48 |
| P/FCF Ratio | 9.63 | 7.62 | 5.62 | 1.74 | 6.89 | |
| P/OCF Ratio | 8.21 | 7.58 | 5.59 | 1.73 | 6.83 | |
| EV/Sales Ratio | 1.48 | 1.19 | 0.80 | 0.66 | 0.31 | 0.85 |
| EV/EBITDA Ratio | 17.73 | 12.38 | 7.20 | 7.18 | 4.43 | 7.47 |
| EV/EBIT Ratio | 31.66 | 23.44 | 13.19 | 17.22 | 9.57 | 10.45 |
| EV/FCF Ratio | 9.02 | 6.19 | 3.59 | 0.41 | 3.24 | |
| Debt / Equity Ratio | 0.10 | 0.08 | 0.03 | 0.04 | 0.06 | 0.05 |
| Debt / EBITDA Ratio | 1.32 | 1.00 | 0.29 | 0.51 | 1.06 | 0.65 |
| Debt / FCF Ratio | 0.75 | 0.54 | 0.15 | 0.12 | 0.32 | |
| Net Debt / Equity Ratio | -0.08 | -0.27 | -0.34 | -0.40 | -0.30 | -0.63 |
| Net Debt / EBITDA Ratio | -1.21 | -3.61 | -3.96 | -5.87 | -6.91 | -8.89 |
| Net Debt / FCF Ratio | -0.61 | -1.80 | -1.97 | 36.44 | -0.65 | -3.86 |
| Asset Turnover | 0.67 | 0.63 | 0.62 | 0.59 | 0.48 | 0.51 |
| Quick Ratio | 2.50 | 2.59 | 3.00 | 3.00 | 3.04 | 5.78 |
| Current Ratio | 2.50 | 2.59 | 3.00 | 3.00 | 3.30 | 5.92 |
| Return on Equity (ROE) | 6.31% | 5.68% | 1.81% | 9.07% | -4.05% | 7.85% |
| Return on Assets (ROA) | 1.97% | 1.99% | 2.34% | 1.43% | 0.97% | 2.58% |
| Return on Invested Capital (ROIC) | 3.04% | 4.19% | 4.06% | 3.58% | 3.66% | 8.33% |
| Return on Capital Employed (ROCE) | 3.40% | 3.60% | 4.40% | 2.60% | 1.70% | 4.80% |
| Earnings Yield | 4.62% | 4.92% | 1.88% | 9.42% | -5.21% | 7.38% |
| FCF Yield | 10.38% | 13.13% | 17.79% | -1.32% | 57.59% | 14.52% |
| Dividend Yield | 3.21% | 3.52% | 4.15% | 4.75% | 5.25% | 2.66% |
| Payout Ratio | 69.46% | 76.01% | 245.60% | 57.79% | 234.89% | |
| Buyback Yield / Dilution | -3.70% | -4.34% | -4.98% | -3.41% | 1.05% | 0.75% |
| Total Shareholder Return | -0.49% | -0.82% | -0.83% | 1.34% | 6.31% | 3.41% |