Cohen & Company (COHN) AI Stock Analysis

• Market Cap: $31.56M
• Dividend Yield: 6.45%
• Average Volume (3M): 3.95K
• Price to Earnings (P/E): 6.8
• Beta (1Y): 1.03
• Revenue Growth: 214.07%
• EPS Growth: -40.88%
• Country: US
• Employees: 117
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 2.58
• Shares Outstanding: 2,035,863
• 10 Day Avg. Volume: 3,233
• 30 Day Avg. Volume: 3,952
• PEG Ratio: 1.33
• Price to Book (P/B): 0.40
• Price to Sales (P/S): 0.21
• P/FCF Ratio: 2.03
• Enterprise Value/Market Cap: 30.01
• Enterprise Value/Revenue: 4.95
• Enterprise Value/Gross Profit: 16.12
• Enterprise Value/Ebitda: 78.64
• 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: 66 Neutral
• Price Target: $18.00 ▲(7.08% Upside)

Cohen & Company's stock score is driven by strong technical indicators and attractive valuation metrics. However, financial performance is hindered by high leverage and liquidity concerns, and while the earnings call was positive, it highlighted some significant financial challenges.

Positive Factors

Revenue Growth

The significant increase in CCM revenue highlights strong growth and market leadership, indicating a robust business model and expanding market presence.

Leadership in SPAC Transactions

Cohen & Company's leadership in SPAC transactions showcases its competitive advantage and expertise in a growing market segment, supporting long-term revenue potential.

Projected Revenue Growth

Strong revenue projections indicate continued business momentum and effective strategic positioning, suggesting sustained growth prospects.

Negative Factors

High Leverage

High leverage poses financial risk, potentially limiting flexibility and increasing vulnerability to economic downturns, impacting long-term stability.

Liquidity Concerns

Declining free cash flow growth raises concerns about liquidity and the company's ability to fund operations and investments sustainably.

Low Profitability

Low profitability margins indicate challenges in cost management and pricing power, which could hinder long-term financial health and shareholder returns.

Cohen & Company Business Overview & Revenue Model

Company Description

Cohen & Company (COHN) is a diversified financial services firm that operates primarily in the sectors of investment banking, asset management, and financial advisory. The company specializes in providing a range of services including capital raising, mergers and acquisitions advisory, and wealth management solutions to both institutional and individual clients. With a focus on delivering tailored financial strategies, Cohen & Company leverages its extensive market expertise to create value for its clients across various industries.

How the Company Makes Money

Cohen & Company generates revenue through multiple key streams, primarily from advisory fees, asset management fees, and commissions from trading activities. The firm charges advisory fees for its investment banking services, which include capital raising and M&A advisory. In asset management, COHN earns management fees based on assets under management (AUM) and performance fees tied to investment performance. Additionally, the company may receive commissions from brokerage activities and trading services. Strategic partnerships with institutional investors and collaborative ventures in investment projects also contribute significantly to its earnings.

Cohen & Company Financial Statement Overview

Summary

Cohen & Company exhibits strong revenue growth and operational efficiency, but faces challenges in profitability and high leverage. The balance sheet indicates significant financial risk due to high debt levels, while cash flow analysis reveals liquidity concerns despite efficient cash conversion.

Income Statement

Cohen & Company shows a strong revenue growth rate of 39.19% in the TTM, indicating a positive trajectory. However, the net profit margin is low at 1.39%, suggesting limited profitability. The gross profit margin is moderate at 30.25%, and the EBIT margin is healthy at 13.29%, reflecting operational efficiency. The company has improved from previous years, but profitability remains a concern.

Balance Sheet

The company's balance sheet reveals high leverage with a debt-to-equity ratio of 19.95, indicating significant reliance on debt financing. The return on equity is modest at 10.01%, showing some profitability for shareholders. The equity ratio is low, suggesting potential risks in financial stability. Overall, the balance sheet reflects high risk due to leverage, despite some profitability improvements.

Cash Flow

Cohen & Company's cash flow analysis shows a significant decline in free cash flow growth at -82.61% in the TTM, indicating potential liquidity issues. The operating cash flow to net income ratio is low at 0.19, suggesting challenges in converting income into cash. However, the free cash flow to net income ratio is strong at 0.99, indicating efficient cash generation relative to net income. The cash flow situation is mixed, with liquidity concerns but efficient cash conversion.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	191.37M	79.60M	82.98M	44.39M	146.37M	130.11M
Gross Profit	58.76M	23.21M	30.89M	-5.90M	61.32M	70.21M
EBITDA	12.04M	2.60M	23.03M	-48.34M	78.10M	39.81M
Net Income	4.38M	-129.00K	-5.11M	-13.39M	11.81M	14.21M
Balance Sheet
Total Assets	773.85M	971.15M	772.76M	887.05M	3.66B	6.15B
Cash, Cash Equivalents and Short-Term Investments	161.39M	163.09M	181.40M	236.26M	273.16M	284.96M
Total Debt	83.93M	118.13M	149.02M	624.01M	3.39B	5.77B
Total Liabilities	672.80M	880.87M	680.96M	793.03M	3.50B	6.05B
Stockholders Equity	47.84M	41.73M	41.68M	46.74M	61.94M	43.91M
Cash Flow
Free Cash Flow	32.56M	8.23M	-40.03M	-24.06M	17.29M	41.22M
Operating Cash Flow	33.84M	9.47M	-39.66M	-23.49M	18.32M	41.44M
Investing Cash Flow	18.55M	16.51M	38.12M	13.80M	-22.53M	-11.95M
Financing Cash Flow	-12.19M	-16.72M	-17.11M	-11.50M	13.16M	3.79M

Cohen & Company Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 16.81
• 50DMA: Positive
• 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 COHN, the sentiment is Neutral. The current price of 16.81 is below the 20-day moving average (MA) of 17.34, above the 50-day MA of 13.78, and above the 200-day MA of 10.51, indicating a neutral trend. The MACD of 0.82 indicates Positive momentum. The RSI at 50.02 is Neutral, neither overbought nor oversold. The STOCH value of 9.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for COHN.

Cohen & Company Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WHG	74 Outperform	$173.96M	22.08	5.99%	3.32%	4.03%	151.19%
SIEB	72 Outperform	$156.05M	20.93	8.43%	―	8.47%	-32.22%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
COHN	66 Neutral	$31.56M	6.83	9.56%	6.45%	214.07%	-40.88%
HGBL	61 Neutral	$42.73M	14.37	4.65%	―	0.02%	-68.55%

Cohen & Company Corporate Events

Cohen & Company Completes SPAC Merger with ProCap

On December 5, 2025, Columbus Circle Capital Corp. I, a SPAC sponsored by Cohen & Company, completed its merger with ProCap BTC, resulting in ProCap Financial becoming the go-forward company. ProCap Financial’s common stock and warrants began trading on Nasdaq under the symbols ‘BRR’ and ‘BRRWW’ on December 8, 2025. The SPAC founder shares were converted into ProCap Financial shares, with certain transfer restrictions in place. Executives and key employees of Cohen & Company received approximately 2,150,000 ProCap Financial shares.