Cohen & Company Inc (COHN)
XASE:COHN
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Cohen & Company
(NYSE MKT:COHN)
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Rating:57Neutral
Price Target:
$12.00
▼(-35.62% Downside)
Action:Reiterated
Date:06/04/26
The score is held back primarily by higher balance-sheet risk (TTM leverage spike) and weak TTM cash generation, alongside bearish technicals (price below key moving averages, negative MACD). These risks are partially offset by improved recent profitability and strong headline valuation metrics (very low P/E and high dividend yield), with corporate actions slightly mixed due to incentive-plan dilution potential.
Positive Factors
Revenue growth
TTM revenue grew 10.6% to $304.7M, reflecting expanding deal flow across investment banking and capital markets. As a diversified transactional revenue base, sustained growth supports scale benefits, deeper client relationships and recurring mandate wins that bolster durable top-line stability.
Negative Factors
High leverage
TTM debt-to-equity surged to roughly 8.7x with relatively small equity versus large total assets (~$684.1M). Elevated leverage materially raises balance‑sheet risk, narrows capital cushions, limits financial flexibility, and magnifies losses from adverse trading or underwriting outcomes over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth
TTM revenue grew 10.6% to $304.7M, reflecting expanding deal flow across investment banking and capital markets. As a diversified transactional revenue base, sustained growth supports scale benefits, deeper client relationships and recurring mandate wins that bolster durable top-line stability.
Read all positive factors
Cohen & Company Key Performance Indicators (KPIs)
Any
Operating Income by Segment
Shows how much profit each business line makes after paying day-to-day operating costs, revealing which services drive the company’s core earnings. Strong or improving operating income in key segments points to operational efficiency and scalability, while weak or concentrated results increase vulnerability if demand shifts.
Shows how much profit each business line makes after paying day-to-day operating costs, revealing which services drive the company’s core earnings. Strong or improving operating income in key segments points to operational efficiency and scalability, while weak or concentrated results increase vulnerability if demand shifts.
Data provided by:
The Fly
The FlyCohen & Company (COHN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$29.88M
Dividend Yield6.45%
Average Volume (3M)3.95K
Price to Earnings (P/E)1.4
Beta (1Y)0.73
Revenue Growth188.88%
EPS GrowthN/A
CountryUS
Employees117
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)8.92
Shares Outstanding2,510,655
10 Day Avg. Volume3,233
30 Day Avg. Volume3,952
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.80
Price to Sales (P/S)0.15
P/FCF Ratio1.56
Enterprise Value/Market Cap2.45
Enterprise Value/Revenue0.24
Enterprise Value/Gross Profit0.51
Enterprise Value/Ebitda1.52
Forecast
1Y Price Target
$30.00Price Target Upside60.94% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Cohen & Company Business Overview & Revenue Model
Company Description
Cohen & Company Inc. operates as a publicly traded investment management firm, primarily catering to both individual and institutional clients. A core offering involves the management of distinct, client-centric fixed income portfolios. Known prev...
How the Company Makes Money
Cohen & Company’s earnings are generated primarily through its operating subsidiary’s investment banking and capital markets activities. Key revenue streams typically include: (1) Investment banking fees: advisory fees for M&A and other strategic ...
Cohen & Company Earnings Call Summary
Earnings Call Date:Mar 06, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call presented strong operational and financial momentum: materially higher full-year revenue (+246% YoY), substantial CCM deal activity and market leadership in SPAC/de‑SPAC transactions, improved profitability and adjusted pretax income, and meaningful shareholder returns via dividends. Offsetting items include elevated compensation and one-time expenses tied to founder shares and SPAC sponsor accounting, losses from equity affiliates, sequential volatility in investment banking revenue, and concentration risk in the SPAC business. On balance, the highlights — including large YoY growth, improved profitability, and market leadership — outweigh the lowlights, though the results carry some volatility and concentration-related risk.Positive Updates
Record Full-Year Revenue and Large YoY Growth
Total revenue for fiscal 2025 was $275,600,000, an increase of 246% from 2024.
Negative Updates
High Compensation and Benefits Expense
Compensation and benefits expense for the fourth quarter was $57,800,000, elevated by incentive compensation and a $16,500,000 expense recorded related to founder shares allocable to employees tied to the Columbus Circle Capital Corp I sponsor.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Full-Year Revenue and Large YoY Growth
Total revenue for fiscal 2025 was $275,600,000, an increase of 246% from 2024.
Read all positive updates
Company Guidance
Management guided that first-quarter 2026 revenue is trending substantially higher than Q1 2025 and that CCM’s pipeline is more robust year-over-year, positioning the firm for continued growth as it expands the investment bank and industry verticals; key operational plans include adding roughly five investment‑bank hires in 2026 (investment bank headcount was 28 at year-end), potentially 2–5 new MDs, and about eight hires in fixed‑income trading to grow fixed‑income revenue from roughly $50M in 2025 toward a $60–65M target. They reiterated capital returns—a quarterly dividend of $0.25 and a $0.70 special dividend payable April 3, 2026 (record March 20), on top of the $2.00 special paid in January 2026—while noting dividend policy will be reviewed each quarter. Contextual metrics cited alongside the guidance include FY2025 total revenue of $275.6M (+246% YoY), adjusted pretax income $41.4M (15% of revenue), FY basic and fully diluted net income per share $8.33 and $4.35, Q4 net income attributable $8.1M ($1.48 diluted), Q4 adjusted pretax income $18.3M, Q4 investment‑banking revenue $55.0M (of which $50.8M was CCM), CCM closed $43.0B in transactions in 2025 and accounted for ~67% of company revenue, revenue per employee $2.3M, year‑end equity $103.1M, and consolidated indebtedness of $33.0M.Cohen & Company Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
48
Neutral
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 304.73M | 278.30M | 79.60M | 82.98M | 44.39M | 146.37M |
| Gross Profit | 144.52M | 260.92M | 23.21M | 30.89M | -5.90M | 61.32M |
| EBITDA | 48.21M | 46.10M | 2.60M | 23.03M | -48.34M | 78.10M |
| Net Income | 15.59M | 14.43M | -129.00K | -5.11M | -13.39M | 11.81M |
Balance Sheet | ||||||
| Total Assets | 684.14M | 700.59M | 971.15M | 772.76M | 887.05M | 3.66B |
| Cash, Cash Equivalents and Short-Term Investments | 158.44M | 192.69M | 163.09M | 181.40M | 236.26M | 273.16M |
| Total Debt | 68.11M | 49.86M | 118.13M | 149.02M | 624.01M | 3.39B |
| Total Liabilities | 583.99M | 597.50M | 880.87M | 680.96M | 793.03M | 3.50B |
| Stockholders Equity | 51.52M | 51.08M | 41.73M | 41.68M | 46.74M | 61.94M |
Cash Flow | ||||||
| Free Cash Flow | 1.09M | 26.10M | 8.23M | -40.03M | -24.06M | 17.29M |
| Operating Cash Flow | 2.51M | 27.35M | 9.47M | -39.66M | -23.49M | 18.32M |
| Investing Cash Flow | 24.54M | 26.21M | 16.51M | 38.12M | 13.80M | -22.53M |
| Financing Cash Flow | -22.59M | -17.30M | -16.72M | -17.11M | -11.50M | 13.16M |
Cohen & Company Technical Analysis
Neutral
18.64
Price Trends
15.06
Negative
15.25
Negative
14.00
Negative
Market Momentum
-0.61
Negative
45.65
Neutral
41.04
Neutral
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 18.64 is above the 20-day moving average (MA) of 11.46, above the 50-day MA of 15.06, and above the 200-day MA of 14.00, indicating a neutral trend. The MACD of -0.61 indicates Negative momentum. The RSI at 45.65 is Neutral, neither overbought nor oversold. The STOCH value of 41.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for COHN.
Cohen & Company Risk Analysis
Cohen & Company disclosed 72 risk factors in its most recent earnings report. Cohen & Company reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cohen & Company Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $176.22M | 21.44 | 5.95% | 3.32% | 6.26% | 1779.57% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
60 Neutral | $43.42M | 13.35 | 4.85% | ― | 7.68% | -23.96% | |
57 Neutral | $29.88M | 1.39 | 32.18% | 6.45% | 188.88% | ― | |
54 Neutral | $78.61M | -14.21 | -6.18% | ― | -3.91% | -129.85% | |
52 Neutral | $76.21M | -1.29 | -47.46% | ― | 399.17% | 52.67% |
* Financial Sector Average
COHN
Cohen & Company
11.90
3.82
47.31%
SIEB
Siebert Financial
1.92
-2.35
-55.04%
DOMH
Dominari Holdings
3.37
-1.02
-23.32%
WHG
Westwood Holdings Group
18.58
2.91
18.59%
HGBL
Heritage Global
1.25
-0.94
-42.92%
TOP
Zhong Yang Financial Group Ltd.
1.37
0.20
17.09%
Cohen & Company Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Cohen & Company Stockholders Approve Governance and Incentive Changes
Positive
Jun 3, 2026
Cohen Company Inc. held its 2026 Annual Meeting of Stockholders online on June 3, 2026, with approximately 80.68% of the combined voting power present, establishing a quorum for business. Stockholders elected five directors—Daniel G. Cohen,...
Financial DisclosuresRegulatory Filings and Compliance
Cohen & Company Posts New Investor Presentation Update
Neutral
May 27, 2026
On May 27, 2026, Cohen Company Inc. announced that it had posted a new investor presentation dated May 26, 2026 on its website’s investor relations page for use in meetings with investors, analysts and other market participants. The company...
Business Operations and StrategyRegulatory Filings and Compliance
Cohen & Company Updates LLC Agreement and LTIP Structure
Neutral
Mar 6, 2026
On March 6, 2026, Cohen Company, Inc. executed a Second Amended and Restated Limited Liability Company Agreement for its operating subsidiary, Cohen Company, LLC, with key executives and affiliated entities as members. The revised agreement supe...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.