Associated Capital Group (ACGP) AI Stock Analysis

• Market Cap: $814.37M
• Dividend Yield: 5.91%
• Average Volume (3M): 658.00
• Price to Earnings (P/E): 14.9
• Beta (1Y): 0.56
• Revenue Growth: -10.53%
• EPS Growth: -16.94%
• Country: US
• Employees: 24
• Sector: N/A
• Sector Strength: N/A
• Industry: Asset Management
• EPS (TTM): 0.54
• Shares Outstanding: 1,774,575
• 10 Day Avg. Volume: 270
• 30 Day Avg. Volume: 658
• PEG Ratio: 0.79
• Price to Book (P/B): 0.82
• Price to Sales (P/S): 55.51
• P/FCF Ratio: 27.21
• Enterprise Value/Market Cap: 0.57
• Enterprise Value/Revenue: 14.64
• Enterprise Value/Gross Profit: 42.73
• Enterprise Value/Ebitda: 10.49
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 67 Neutral
• Price Target: $41.00 ▲(7.92% Upside)
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is driven primarily by strong balance-sheet quality (minimal leverage) offset by weak and volatile operating fundamentals (sharp revenue contraction and inconsistent profitability/cash flow). Technicals are mildly constructive with price above key moving averages, and valuation is supported by a high dividend yield with a mid-range P/E.

Associated Capital Group Business Overview & Revenue Model

Company Description

Associated Capital Group, Inc., together with its subsidiaries, provides investment advisory services in the United States. It offers alternative investment management services; operates a direct investment business; and invests in new and existing businesses. The company was founded in 1976 and is headquartered in Greenwich, Connecticut. Associated Capital Group, Inc. is a subsidiary of GGCP Holdings LLC.

How the Company Makes Money

Associated Capital Group makes money through a combination of management fees, performance-based fees, and advisory fees. The company generates revenue by managing assets for institutional and high-net-worth clients, charging a percentage of assets under management (AUM) as management fees. Additionally, AC earns performance-based fees when the returns on managed funds exceed certain benchmarks or predefined targets. The firm's institutional research services also contribute to its revenue by providing financial market insights and analysis to clients, which are typically compensated through subscription or consulting fees. Key partnerships with institutional investors and a focus on alternative investment strategies further enhance the company's revenue streams.

Associated Capital Group Financial Statement Overview

Summary

Strong, low-leverage balance sheet (minimal to zero debt) supports financial resilience, but operating performance is uneven: revenue has contracted sharply and profitability/cash flows are volatile with swings in operating results and inconsistent margins.

Income Statement

Revenue has contracted sharply over the period, with 2024 revenue down ~75% year-over-year after prior declines, signaling a shrinking top line. Profitability is volatile: net income is positive in most years (and strong in 2024), but operating results swing (EBIT negative in several years and a loss year in 2022). Margins are inconsistent—including negative gross profit in multiple years—suggesting earnings are likely driven by non-operating items and market-sensitive gains rather than stable operating performance.

Balance Sheet

The balance sheet is a clear strength: leverage is minimal to none (debt-to-equity near zero across years and zero debt in 2024), providing substantial financial flexibility. Equity remains large and relatively stable versus assets, supporting resilience through down cycles. Returns on equity are modest and uneven (including negative in 2022), indicating the capital base is not consistently producing strong returns despite the low leverage.

Cash Flow

Cash generation is mixed. Operating cash flow was very strong in 2021 and 2023, but turned negative in 2019, 2020, and 2022, highlighting meaningful volatility. In 2024, operating cash flow is positive but much lower than 2023, and free cash flow shows a steep decline year-over-year. Overall, cash flow can be solid in good periods, but the pattern is inconsistent and susceptible to swings.

Breakdown
Income Statement
Total Revenue
Gross Profit
EBITDA
Net Income
Balance Sheet
Total Assets
Cash, Cash Equivalents and Short-Term Investments
Total Debt
Total Liabilities
Stockholders Equity
Cash Flow
Free Cash Flow
Operating Cash Flow
Investing Cash Flow
Financing Cash Flow

Associated Capital Group Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 37.99
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ACGP, the sentiment is Neutral. The current price of 37.99 is below the 20-day moving average (MA) of 39.61, below the 50-day MA of 39.63, and above the 200-day MA of 37.07, indicating a neutral trend. The MACD of -0.05 indicates Positive momentum. The RSI at 45.14 is Neutral, neither overbought nor oversold. The STOCH value of 14.62 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ACGP.

Associated Capital Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	―	―	―	―	―	―	―
OPY	76 Outperform	$885.73M	2.55	9.64%	0.99%	12.52%	16.53%
SIEB	72 Outperform	$81.66M	18.19	8.17%	―	8.47%	-32.22%
WHG	70 Outperform	$151.56M	20.36	5.77%	3.32%	4.03%	151.19%
ACGP	67 Neutral	$814.37M	14.88	5.80%	5.91%	-10.53%	-16.94%
SRL	54 Neutral	$115.42M	-14.94	-0.88%	3.83%	-36.67%	-1568.10%