Annual Income Statements for A-Mark Precious Metals
This table shows A-Mark Precious Metals' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for A-Mark Precious Metals
This table shows A-Mark Precious Metals' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Q2 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
37 |
37 |
45 |
33 |
36 |
42 |
19 |
14 |
5.01 |
8.98 |
6.56 |
Consolidated Net Income / (Loss) |
|
38 |
37 |
45 |
34 |
36 |
42 |
19 |
14 |
5.15 |
8.42 |
5.97 |
Net Income / (Loss) Continuing Operations |
|
38 |
37 |
45 |
34 |
36 |
42 |
19 |
14 |
5.15 |
8.42 |
5.97 |
Total Pre-Tax Income |
|
46 |
47 |
58 |
43 |
46 |
56 |
24 |
18 |
6.44 |
10 |
8.02 |
Total Revenue |
|
2,111 |
2,092 |
1,902 |
1,952 |
2,314 |
3,122 |
2,484 |
2,076 |
2,607 |
2,713 |
2,736 |
Net Interest Income / (Expense) |
|
-0.09 |
-0.02 |
-1.03 |
-2.25 |
-3.15 |
-2.86 |
-3.72 |
-3.86 |
-3.23 |
-2.90 |
-3.57 |
Total Interest Income |
|
5.34 |
5.68 |
5.10 |
4.98 |
6.09 |
6.06 |
6.10 |
6.31 |
6.68 |
7.09 |
6.79 |
Investment Securities Interest Income |
|
5.34 |
5.68 |
5.10 |
4.98 |
6.09 |
6.06 |
6.10 |
6.31 |
6.68 |
7.09 |
6.79 |
Total Interest Expense |
|
5.43 |
5.70 |
6.13 |
7.24 |
9.24 |
8.93 |
9.82 |
10 |
9.91 |
9.99 |
10 |
Long-Term Debt Interest Expense |
|
5.43 |
5.70 |
6.13 |
7.24 |
9.24 |
8.93 |
9.82 |
10 |
9.91 |
9.99 |
10 |
Total Non-Interest Income |
|
2,111 |
2,092 |
1,903 |
1,954 |
2,317 |
3,125 |
2,487 |
2,080 |
2,610 |
2,716 |
2,740 |
Net Realized & Unrealized Capital Gains on Investments |
|
1.61 |
2.59 |
2.68 |
4.67 |
-0.07 |
5.30 |
2.71 |
0.78 |
-0.21 |
0.58 |
-2.41 |
Other Non-Interest Income |
|
2,109 |
2,090 |
1,900 |
1,950 |
2,317 |
3,119 |
2,485 |
2,079 |
2,611 |
2,715 |
2,742 |
Total Non-Interest Expense |
|
2,065 |
2,046 |
1,845 |
1,910 |
2,269 |
3,066 |
2,460 |
2,058 |
2,602 |
2,703 |
2,729 |
Other Operating Expenses |
|
2,058 |
2,043 |
1,842 |
1,907 |
2,265 |
3,064 |
2,457 |
2,055 |
2,599 |
2,698 |
2,723 |
Depreciation Expense |
|
7.55 |
3.22 |
3.18 |
3.26 |
3.34 |
2.74 |
2.79 |
2.81 |
2.95 |
4.71 |
4.64 |
Other Special Charges |
|
-0.36 |
0.46 |
-0.21 |
-0.00 |
-0.04 |
-0.12 |
0.09 |
-0.11 |
-0.07 |
-0.18 |
0.84 |
Nonoperating Income / (Expense), net |
|
- |
- |
0.53 |
0.83 |
0.64 |
0.66 |
0.27 |
0.57 |
0.76 |
0.20 |
0.46 |
Income Tax Expense |
|
8.38 |
9.54 |
13 |
9.55 |
9.78 |
14 |
4.95 |
4.47 |
1.29 |
1.76 |
2.04 |
Other Gains / (Losses), net |
|
0.00 |
- |
- |
- |
- |
- |
0.00 |
0.00 |
- |
0.00 |
0.00 |
Net Income / (Loss) Attributable to Noncontrolling Interest |
|
0.16 |
0.13 |
0.11 |
0.12 |
0.08 |
0.10 |
0.16 |
0.20 |
0.14 |
-0.57 |
-0.58 |
Basic Earnings per Share |
|
$1.64 |
$1.64 |
$1.93 |
$1.43 |
$1.53 |
$1.79 |
$0.81 |
$0.60 |
$0.22 |
$0.39 |
$0.28 |
Weighted Average Basic Shares Outstanding |
|
22.86M |
22.81M |
23.40M |
23.49M |
23.42M |
23.40M |
23.36M |
23.08M |
22.85M |
23.03M |
23.16M |
Diluted Earnings per Share |
|
$1.53 |
$1.64 |
$1.83 |
$1.35 |
$1.46 |
$1.79 |
$0.77 |
$0.57 |
$0.21 |
$0.37 |
$0.27 |
Weighted Average Diluted Shares Outstanding |
|
24.43M |
24.33M |
24.69M |
24.73M |
24.66M |
24.65M |
24.53M |
24.06M |
23.82M |
23.98M |
23.97M |
Weighted Average Basic & Diluted Shares Outstanding |
|
11.51M |
23.38M |
23.45M |
23.53M |
23.26M |
23.34M |
22.85M |
- |
22.89M |
23.18M |
23.02M |
Annual Cash Flow Statements for A-Mark Precious Metals
This table details how cash moves in and out of A-Mark Precious Metals' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
-64 |
1.54 |
9.32 |
Net Cash From Operating Activities |
-89 |
-30 |
61 |
Net Cash From Continuing Operating Activities |
-89 |
-30 |
61 |
Net Income / (Loss) Continuing Operations |
133 |
157 |
69 |
Consolidated Net Income / (Loss) |
133 |
157 |
69 |
Depreciation Expense |
27 |
13 |
11 |
Amortization Expense |
2.65 |
2.11 |
2.45 |
Non-Cash Adjustments to Reconcile Net Income |
-2.87 |
-9.58 |
-18 |
Changes in Operating Assets and Liabilities, net |
-249 |
-192 |
-3.63 |
Net Cash From Investing Activities |
-61 |
6.84 |
-64 |
Net Cash From Continuing Investing Activities |
-61 |
6.84 |
-64 |
Purchase of Property, Leasehold Improvements and Equipment |
-2.88 |
-4.78 |
-7.26 |
Purchase of Investment Securities |
-57 |
11 |
-55 |
Sale and/or Maturity of Investments |
-0.40 |
0.31 |
-1.35 |
Net Cash From Financing Activities |
86 |
25 |
12 |
Net Cash From Continuing Financing Activities |
86 |
25 |
12 |
Issuance of Debt |
0.00 |
3.50 |
3.45 |
Repayment of Debt |
25 |
17 |
-88 |
Repurchase of Common Equity |
0.00 |
-9.76 |
-22 |
Payment of Dividends |
-23 |
-37 |
-42 |
Other Financing Activities, Net |
84 |
52 |
161 |
Cash Interest Paid |
21 |
29 |
34 |
Cash Income Taxes Paid |
43 |
44 |
18 |
Quarterly Cash Flow Statements for A-Mark Precious Metals
This table details how cash moves in and out of A-Mark Precious Metals' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Net Change in Cash & Equivalents |
|
9.20 |
9.23 |
27 |
7.86 |
5.60 |
-39 |
8.93 |
-20 |
13 |
-1.71 |
-9.16 |
Net Cash From Operating Activities |
|
-114 |
-13 |
280 |
-328 |
92 |
-74 |
-44 |
-57 |
83 |
-128 |
110 |
Net Cash From Continuing Operating Activities |
|
-114 |
-13 |
280 |
-328 |
92 |
-74 |
-44 |
-57 |
83 |
-128 |
110 |
Net Income / (Loss) Continuing Operations |
|
38 |
37 |
45 |
34 |
36 |
42 |
19 |
14 |
31 |
8.42 |
5.97 |
Consolidated Net Income / (Loss) |
|
38 |
37 |
45 |
34 |
36 |
42 |
19 |
14 |
31 |
8.42 |
5.97 |
Depreciation Expense |
|
7.55 |
3.22 |
3.18 |
3.26 |
3.34 |
2.74 |
2.79 |
2.81 |
2.85 |
4.71 |
4.64 |
Amortization Expense |
|
0.53 |
0.56 |
0.55 |
0.59 |
0.49 |
0.49 |
0.52 |
0.69 |
0.62 |
0.67 |
1.02 |
Non-Cash Adjustments to Reconcile Net Income |
|
-67 |
-0.22 |
-1.63 |
18 |
-22 |
-4.21 |
-1.43 |
-0.48 |
-17 |
1.00 |
1.26 |
Changes in Operating Assets and Liabilities, net |
|
-93 |
-54 |
232 |
-384 |
74 |
-115 |
-65 |
-74 |
65 |
-142 |
97 |
Net Cash From Investing Activities |
|
-16 |
-20 |
37 |
-22 |
0.01 |
-8.25 |
-0.43 |
-10 |
-5.09 |
15 |
-4.98 |
Net Cash From Continuing Investing Activities |
|
-16 |
-20 |
37 |
-22 |
0.01 |
-8.25 |
-0.43 |
-10 |
-5.09 |
15 |
-4.98 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-0.48 |
-0.77 |
-0.93 |
-1.74 |
-0.57 |
-1.56 |
-1.89 |
-1.94 |
-2.74 |
-0.61 |
-3.70 |
Purchase of Investment Securities |
|
-32 |
-19 |
38 |
-20 |
0.58 |
-7.01 |
1.46 |
-7.45 |
-1.49 |
16 |
-4.05 |
Sale and/or Maturity of Investments |
|
- |
- |
- |
- |
- |
- |
0.00 |
-0.85 |
- |
0.09 |
2.77 |
Net Cash From Financing Activities |
|
139 |
43 |
-290 |
358 |
-86 |
43 |
54 |
48 |
-64 |
110 |
-114 |
Net Cash From Continuing Financing Activities |
|
139 |
43 |
-290 |
358 |
-86 |
43 |
54 |
48 |
-64 |
110 |
-114 |
Issuance of Debt |
|
25 |
- |
3.89 |
- |
- |
-0.39 |
584 |
462 |
- |
542 |
429 |
Repayment of Debt |
|
70 |
-41 |
-152 |
182 |
-17 |
4.17 |
-552 |
-526 |
-45 |
-454 |
-544 |
Repurchase of Common Equity |
|
- |
- |
0.00 |
- |
- |
- |
-4.90 |
-12 |
- |
0.00 |
-5.12 |
Payment of Dividends |
|
- |
-0.01 |
-23 |
-4.69 |
-4.71 |
-4.67 |
-28 |
-4.65 |
-4.58 |
-4.63 |
-4.64 |
Other Financing Activities, Net |
|
44 |
84 |
-118 |
181 |
-54 |
44 |
54 |
129 |
-14 |
27 |
10 |
Cash Interest Paid |
|
4.57 |
5.33 |
5.77 |
8.25 |
6.81 |
7.96 |
8.49 |
8.05 |
9.01 |
11 |
8.85 |
Cash Income Taxes Paid |
|
11 |
9.56 |
2.97 |
22 |
8.79 |
11 |
3.12 |
9.10 |
1.65 |
2.93 |
4.41 |
Annual Balance Sheets for A-Mark Precious Metals
This table presents A-Mark Precious Metals' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
1,443 |
1,546 |
1,828 |
Cash and Due from Banks |
38 |
39 |
49 |
Trading Account Securities |
80 |
26 |
22 |
Loans and Leases, Net of Allowance |
0.00 |
0.00 |
0.00 |
Premises and Equipment, Net |
9.85 |
13 |
20 |
Goodwill |
101 |
101 |
200 |
Intangible Assets |
68 |
63 |
102 |
Other Assets |
1,146 |
1,305 |
1,435 |
Total Liabilities & Shareholders' Equity |
1,443 |
1,546 |
1,828 |
Total Liabilities |
952 |
945 |
1,166 |
Short-Term Debt |
281 |
378 |
59 |
Accrued Interest Payable |
22 |
20 |
17 |
Other Short-Term Payables |
534 |
525 |
808 |
Long-Term Debt |
94 |
0.00 |
249 |
Other Long-Term Liabilities |
21 |
21 |
33 |
Commitments & Contingencies |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
490 |
600 |
662 |
Total Preferred & Common Equity |
489 |
599 |
608 |
Preferred Stock |
0.00 |
0.00 |
0.00 |
Total Common Equity |
489 |
599 |
608 |
Common Stock |
167 |
169 |
169 |
Retained Earnings |
322 |
441 |
467 |
Treasury Stock |
0.00 |
-9.76 |
-28 |
Accumulated Other Comprehensive Income / (Loss) |
0.00 |
-1.03 |
0.06 |
Noncontrolling Interest |
1.86 |
1.27 |
54 |
Quarterly Balance Sheets for A-Mark Precious Metals
This table presents A-Mark Precious Metals' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q3 2024 |
Q1 2025 |
Q2 2025 |
Total Assets |
|
1,347 |
1,240 |
1,582 |
1,593 |
1,624 |
1,669 |
2,029 |
1,869 |
Cash and Due from Banks |
|
29 |
65 |
72 |
78 |
28 |
35 |
47 |
38 |
Trading Account Securities |
|
87 |
49 |
57 |
24 |
20 |
13 |
27 |
19 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Premises and Equipment, Net |
|
9.54 |
10 |
12 |
11 |
15 |
16 |
20 |
24 |
Goodwill |
|
101 |
101 |
101 |
101 |
101 |
121 |
200 |
200 |
Intangible Assets |
|
71 |
65 |
67 |
64 |
58 |
75 |
98 |
94 |
Other Assets |
|
1,049 |
950 |
1,273 |
1,314 |
1,402 |
1,409 |
1,637 |
1,494 |
Total Liabilities & Shareholders' Equity |
|
1,347 |
1,240 |
1,582 |
1,593 |
1,624 |
1,669 |
2,029 |
1,869 |
Total Liabilities |
|
903 |
735 |
1,043 |
1,031 |
1,038 |
1,082 |
1,364 |
1,204 |
Short-Term Debt |
|
349 |
158 |
382 |
361 |
38 |
36 |
57 |
53 |
Accrued Interest Payable |
|
21 |
18 |
14 |
20 |
12 |
17 |
17 |
16 |
Other Short-Term Payables |
|
417 |
440 |
624 |
629 |
669 |
712 |
915 |
876 |
Long-Term Debt |
|
94 |
98 |
1.75 |
1.75 |
298 |
294 |
341 |
229 |
Other Long-Term Liabilities |
|
21 |
21 |
21 |
20 |
21 |
24 |
34 |
30 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
443 |
506 |
540 |
562 |
585 |
587 |
665 |
666 |
Total Preferred & Common Equity |
|
442 |
505 |
538 |
561 |
584 |
583 |
611 |
613 |
Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Common Equity |
|
442 |
505 |
538 |
561 |
584 |
583 |
611 |
613 |
Common Stock |
|
157 |
166 |
167 |
168 |
171 |
172 |
173 |
173 |
Retained Earnings |
|
285 |
339 |
372 |
403 |
440 |
440 |
467 |
473 |
Treasury Stock |
|
- |
- |
- |
-9.76 |
-27 |
-28 |
-28 |
-33 |
Accumulated Other Comprehensive Income / (Loss) |
|
- |
0.05 |
-1.05 |
-1.23 |
-0.96 |
-0.90 |
0.17 |
0.05 |
Noncontrolling Interest |
|
1.73 |
0.97 |
1.09 |
1.17 |
1.62 |
3.83 |
54 |
53 |
Annual Metrics And Ratios for A-Mark Precious Metals
This table displays calculated financial ratios and metrics derived from A-Mark Precious Metals' official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
7.28% |
13.76% |
4.27% |
EBITDA Growth |
19.40% |
10.66% |
-65.68% |
EBIT Growth |
9.74% |
21.92% |
-70.08% |
NOPAT Growth |
5.14% |
17.64% |
-67.66% |
Net Income Growth |
-17.30% |
17.80% |
-55.97% |
EPS Growth |
-38.76% |
16.33% |
-55.21% |
Operating Cash Flow Growth |
-69.34% |
65.99% |
300.95% |
Free Cash Flow Firm Growth |
109.44% |
274.65% |
41.86% |
Invested Capital Growth |
16.17% |
13.09% |
-0.89% |
Revenue Q/Q Growth |
-0.88% |
12.46% |
0.00% |
EBITDA Q/Q Growth |
-3.66% |
4.43% |
0.00% |
EBIT Q/Q Growth |
-1.43% |
5.07% |
0.00% |
NOPAT Q/Q Growth |
-10.34% |
1.58% |
0.00% |
Net Income Q/Q Growth |
-9.27% |
2.93% |
0.00% |
EPS Q/Q Growth |
-14.84% |
-2.16% |
0.00% |
Operating Cash Flow Q/Q Growth |
-429.12% |
-201.81% |
163.81% |
Free Cash Flow Firm Q/Q Growth |
125.99% |
-63.82% |
0.00% |
Invested Capital Q/Q Growth |
-2.39% |
5.88% |
0.00% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
2.38% |
2.32% |
0.76% |
EBIT Margin |
2.01% |
2.16% |
0.62% |
Profit (Net Income) Margin |
1.63% |
1.69% |
0.71% |
Tax Burden Percent |
79.97% |
77.16% |
83.40% |
Interest Burden Percent |
101.19% |
101.33% |
137.98% |
Effective Tax Rate |
20.03% |
22.84% |
16.60% |
Return on Invested Capital (ROIC) |
16.33% |
16.78% |
5.13% |
ROIC Less NNEP Spread (ROIC-NNEP) |
16.75% |
17.32% |
10.67% |
Return on Net Nonoperating Assets (RNNOA) |
14.82% |
11.96% |
5.80% |
Return on Equity (ROE) |
31.15% |
28.74% |
10.94% |
Cash Return on Invested Capital (CROIC) |
1.37% |
4.49% |
6.03% |
Operating Return on Assets (OROA) |
12.49% |
13.42% |
3.56% |
Return on Assets (ROA) |
10.10% |
10.49% |
4.09% |
Return on Common Equity (ROCE) |
31.04% |
28.66% |
10.46% |
Return on Equity Simple (ROE_SIMPLE) |
27.24% |
26.17% |
11.36% |
Net Operating Profit after Tax (NOPAT) |
132 |
155 |
50 |
NOPAT Margin |
1.61% |
1.67% |
0.52% |
Net Nonoperating Expense Percent (NNEP) |
-0.41% |
-0.55% |
-5.54% |
SG&A Expenses to Revenue |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
97.99% |
97.84% |
99.38% |
Earnings before Interest and Taxes (EBIT) |
164 |
201 |
60 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
194 |
215 |
74 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
1.36 |
1.37 |
1.21 |
Price to Tangible Book Value (P/TBV) |
2.08 |
1.89 |
2.41 |
Price to Revenue (P/Rev) |
0.08 |
0.09 |
0.08 |
Price to Earnings (P/E) |
5.02 |
5.26 |
10.75 |
Dividend Yield |
0.00% |
4.53% |
5.59% |
Earnings Yield |
19.91% |
19.02% |
9.30% |
Enterprise Value to Invested Capital (EV/IC) |
1.16 |
1.19 |
1.08 |
Enterprise Value to Revenue (EV/Rev) |
0.12 |
0.13 |
0.11 |
Enterprise Value to EBITDA (EV/EBITDA) |
5.17 |
5.40 |
14.23 |
Enterprise Value to EBIT (EV/EBIT) |
6.11 |
5.80 |
17.52 |
Enterprise Value to NOPAT (EV/NOPAT) |
7.64 |
7.51 |
21.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
0.00 |
0.00 |
17.25 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
90.88 |
28.06 |
17.88 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
0.76 |
0.63 |
0.47 |
Long-Term Debt to Equity |
0.19 |
0.00 |
0.38 |
Financial Leverage |
0.88 |
0.69 |
0.54 |
Leverage Ratio |
3.08 |
2.74 |
2.67 |
Compound Leverage Factor |
3.12 |
2.78 |
3.69 |
Debt to Total Capital |
43.33% |
38.66% |
31.77% |
Short-Term Debt to Total Capital |
32.46% |
38.66% |
6.10% |
Long-Term Debt to Total Capital |
10.87% |
0.00% |
25.67% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.22% |
0.13% |
5.59% |
Common Equity to Total Capital |
56.46% |
61.21% |
62.64% |
Debt to EBITDA |
1.93 |
1.76 |
4.17 |
Net Debt to EBITDA |
1.73 |
1.58 |
3.52 |
Long-Term Debt to EBITDA |
0.48 |
0.00 |
3.37 |
Debt to NOPAT |
2.85 |
2.45 |
6.16 |
Net Debt to NOPAT |
2.56 |
2.19 |
5.19 |
Long-Term Debt to NOPAT |
0.72 |
0.00 |
4.98 |
Noncontrolling Interest Sharing Ratio |
0.37% |
0.29% |
4.40% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
11 |
41 |
59 |
Operating Cash Flow to CapEx |
-3,097.12% |
-633.97% |
839.77% |
Free Cash Flow to Firm to Interest Expense |
0.50 |
1.31 |
1.49 |
Operating Cash Flow to Interest Expense |
-4.05 |
-0.96 |
1.54 |
Operating Cash Flow Less CapEx to Interest Expense |
-4.19 |
-1.11 |
1.36 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
6.20 |
6.22 |
5.74 |
Fixed Asset Turnover |
885.01 |
831.01 |
591.08 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
865 |
979 |
970 |
Invested Capital Turnover |
10.14 |
10.07 |
9.94 |
Increase / (Decrease) in Invested Capital |
120 |
113 |
-8.73 |
Enterprise Value (EV) |
1,005 |
1,162 |
1,051 |
Market Capitalization |
666 |
822 |
737 |
Book Value per Share |
$42.44 |
$25.76 |
$26.54 |
Tangible Book Value per Share |
$27.77 |
$18.72 |
$13.37 |
Total Capital |
865 |
979 |
970 |
Total Debt |
375 |
378 |
308 |
Total Long-Term Debt |
94 |
0.00 |
249 |
Net Debt |
337 |
339 |
260 |
Capital Expenditures (CapEx) |
2.88 |
4.78 |
7.26 |
Net Nonoperating Expense (NNE) |
-1.56 |
-2.05 |
-19 |
Net Nonoperating Obligations (NNO) |
375 |
378 |
308 |
Total Depreciation and Amortization (D&A) |
30 |
15 |
14 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
$5.81 |
$6.68 |
$2.97 |
Adjusted Weighted Average Basic Shares Outstanding |
22.81M |
23.40M |
23.09M |
Adjusted Diluted Earnings per Share |
$5.45 |
$6.34 |
$2.84 |
Adjusted Weighted Average Diluted Shares Outstanding |
24.33M |
24.65M |
24.12M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
23.38M |
23.34M |
22.95M |
Normalized Net Operating Profit after Tax (NOPAT) |
132 |
154 |
50 |
Normalized NOPAT Margin |
1.61% |
1.66% |
0.51% |
Pre Tax Income Margin |
2.04% |
2.19% |
0.85% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
7.48 |
6.36 |
1.52 |
NOPAT to Interest Expense |
5.98 |
4.91 |
1.27 |
EBIT Less CapEx to Interest Expense |
7.35 |
6.21 |
1.33 |
NOPAT Less CapEx to Interest Expense |
5.85 |
4.76 |
1.08 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
17.02% |
23.90% |
60.62% |
Augmented Payout Ratio |
17.02% |
30.13% |
92.93% |
Quarterly Metrics And Ratios for A-Mark Precious Metals
This table displays calculated financial ratios and metrics derived from A-Mark Precious Metals' official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Q2 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
2.64% |
-3.35% |
-5.63% |
0.24% |
9.63% |
49.20% |
30.58% |
6.33% |
12.68% |
9.23% |
31.83% |
EBITDA Growth |
|
-13.35% |
-12.95% |
48.50% |
-6.76% |
-9.33% |
18.36% |
-55.94% |
-53.72% |
-82.38% |
-43.11% |
-38.17% |
EBIT Growth |
|
-23.64% |
-4.93% |
77.50% |
5.10% |
-1.72% |
21.09% |
-58.84% |
-57.79% |
-87.42% |
-57.85% |
-57.70% |
NOPAT Growth |
|
-29.57% |
-2.74% |
73.76% |
4.27% |
-5.47% |
10.60% |
-58.13% |
-58.94% |
-87.20% |
-56.03% |
-58.39% |
Net Income Growth |
|
-51.20% |
-26.63% |
73.16% |
5.19% |
-4.12% |
11.92% |
-58.04% |
-58.45% |
-85.68% |
-55.66% |
-57.21% |
EPS Growth |
|
-51.20% |
-46.41% |
69.44% |
3.85% |
-4.58% |
9.15% |
-57.92% |
-57.78% |
-85.62% |
-51.95% |
-52.63% |
Operating Cash Flow Growth |
|
-318.31% |
-113.10% |
500.99% |
-403.09% |
180.33% |
-446.43% |
-115.83% |
82.51% |
0.00% |
-188.12% |
291.74% |
Free Cash Flow Firm Growth |
|
-35.69% |
59.26% |
117.95% |
10.66% |
98.47% |
13.42% |
-690.45% |
701.76% |
627.28% |
5.77% |
-200.55% |
Invested Capital Growth |
|
27.13% |
16.17% |
2.83% |
25.68% |
4.26% |
13.09% |
20.97% |
0.00% |
-0.83% |
15.31% |
0.00% |
Revenue Q/Q Growth |
|
8.38% |
-0.87% |
-9.10% |
2.64% |
18.53% |
34.91% |
-20.44% |
-16.42% |
0.00% |
0.00% |
0.87% |
EBITDA Q/Q Growth |
|
9.07% |
-7.99% |
23.21% |
-24.60% |
6.07% |
20.11% |
-54.13% |
-20.81% |
0.00% |
0.00% |
-13.93% |
EBIT Q/Q Growth |
|
14.06% |
-0.05% |
25.23% |
-26.39% |
6.66% |
23.15% |
-57.43% |
-24.52% |
0.00% |
0.00% |
-24.25% |
NOPAT Q/Q Growth |
|
18.82% |
-0.20% |
19.63% |
-26.50% |
7.73% |
16.76% |
-54.72% |
-27.90% |
0.00% |
0.00% |
-31.77% |
Net Income Q/Q Growth |
|
17.56% |
-0.20% |
20.73% |
-25.73% |
7.15% |
16.50% |
-54.73% |
-26.46% |
0.00% |
0.00% |
-29.03% |
EPS Q/Q Growth |
|
17.56% |
7.19% |
11.59% |
-26.23% |
8.15% |
22.60% |
-56.98% |
-25.97% |
0.00% |
0.00% |
-27.03% |
Operating Cash Flow Q/Q Growth |
|
-205.51% |
88.21% |
2,176.81% |
-217.35% |
127.97% |
-180.17% |
39.84% |
-29.69% |
0.00% |
-253.93% |
186.31% |
Free Cash Flow Firm Q/Q Growth |
|
12.96% |
45.28% |
128.77% |
-752.06% |
98.51% |
-3,002.29% |
-96.19% |
764.56% |
0.00% |
0.00% |
-609.12% |
Invested Capital Q/Q Growth |
|
20.68% |
-2.39% |
-11.98% |
21.20% |
0.12% |
5.88% |
-5.85% |
-100.00% |
0.00% |
0.00% |
-10.82% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
2.56% |
2.37% |
3.22% |
2.36% |
2.12% |
1.88% |
1.09% |
1.03% |
0.33% |
0.57% |
0.48% |
EBIT Margin |
|
2.18% |
2.19% |
3.02% |
2.17% |
1.95% |
1.78% |
0.95% |
0.86% |
0.22% |
0.37% |
0.28% |
Profit (Net Income) Margin |
|
1.78% |
1.79% |
2.38% |
1.72% |
1.56% |
1.34% |
0.76% |
0.67% |
0.20% |
0.31% |
0.22% |
Tax Burden Percent |
|
81.76% |
79.70% |
77.98% |
77.87% |
78.64% |
74.57% |
79.31% |
75.76% |
80.03% |
82.75% |
74.53% |
Interest Burden Percent |
|
100.00% |
102.42% |
100.92% |
101.97% |
101.42% |
101.19% |
101.15% |
103.19% |
113.44% |
102.01% |
106.10% |
Effective Tax Rate |
|
18.24% |
20.30% |
22.02% |
22.13% |
21.36% |
25.43% |
20.69% |
24.24% |
19.97% |
17.25% |
25.47% |
Return on Invested Capital (ROIC) |
|
18.50% |
18.16% |
25.26% |
16.40% |
13.99% |
13.37% |
8.86% |
0.00% |
0.00% |
3.04% |
4.59% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
18.50% |
18.16% |
25.39% |
16.59% |
14.12% |
13.51% |
8.94% |
0.00% |
0.00% |
3.09% |
4.84% |
Return on Net Nonoperating Assets (RNNOA) |
|
20.21% |
16.07% |
18.09% |
12.53% |
11.31% |
9.33% |
4.85% |
0.00% |
0.00% |
1.81% |
2.05% |
Return on Equity (ROE) |
|
38.71% |
34.23% |
43.35% |
28.94% |
25.30% |
22.70% |
13.71% |
0.00% |
0.00% |
4.85% |
6.64% |
Cash Return on Invested Capital (CROIC) |
|
-5.37% |
1.37% |
17.25% |
-4.43% |
12.64% |
4.49% |
-3.69% |
0.00% |
0.00% |
-10.27% |
-193.45% |
Operating Return on Assets (OROA) |
|
13.90% |
13.60% |
19.56% |
12.85% |
10.96% |
11.07% |
6.57% |
0.00% |
0.00% |
2.00% |
1.56% |
Return on Assets (ROA) |
|
11.36% |
11.10% |
15.40% |
10.20% |
8.74% |
8.35% |
5.27% |
0.00% |
0.00% |
1.68% |
1.24% |
Return on Common Equity (ROCE) |
|
38.36% |
34.10% |
43.23% |
28.86% |
25.23% |
22.64% |
13.68% |
0.00% |
0.00% |
4.64% |
6.11% |
Return on Equity Simple (ROE_SIMPLE) |
|
33.20% |
0.00% |
30.14% |
28.57% |
27.15% |
0.00% |
22.36% |
0.00% |
0.00% |
9.57% |
8.24% |
Net Operating Profit after Tax (NOPAT) |
|
38 |
37 |
45 |
33 |
35 |
41 |
19 |
14 |
4.54 |
8.25 |
5.63 |
NOPAT Margin |
|
1.78% |
1.79% |
2.36% |
1.69% |
1.53% |
1.33% |
0.76% |
0.65% |
0.17% |
0.30% |
0.21% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
-0.13% |
-0.18% |
-0.13% |
-0.13% |
-0.07% |
0.00% |
-0.18% |
-0.05% |
-0.24% |
SG&A Expenses to Revenue |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
|
97.82% |
97.81% |
96.98% |
97.83% |
98.05% |
98.22% |
99.05% |
99.14% |
99.78% |
99.63% |
99.72% |
Earnings before Interest and Taxes (EBIT) |
|
46 |
46 |
57 |
42 |
45 |
56 |
24 |
18 |
5.68 |
9.97 |
7.56 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
54 |
50 |
61 |
46 |
49 |
59 |
27 |
21 |
8.63 |
15 |
13 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.79 |
1.36 |
1.22 |
1.40 |
1.36 |
1.37 |
1.14 |
0.00 |
1.19 |
1.65 |
1.03 |
Price to Tangible Book Value (P/TBV) |
|
2.93 |
2.08 |
1.82 |
2.03 |
1.93 |
1.89 |
1.57 |
0.00 |
1.79 |
3.22 |
1.98 |
Price to Revenue (P/Rev) |
|
0.10 |
0.08 |
0.08 |
0.09 |
0.09 |
0.09 |
0.07 |
0.07 |
0.00 |
0.10 |
0.06 |
Price to Earnings (P/E) |
|
5.41 |
5.02 |
4.06 |
4.90 |
5.04 |
5.26 |
5.11 |
6.18 |
0.00 |
17.19 |
12.25 |
Dividend Yield |
|
5.05% |
0.00% |
7.60% |
3.74% |
4.30% |
4.53% |
6.32% |
6.13% |
5.93% |
4.10% |
2.94% |
Earnings Yield |
|
18.49% |
19.91% |
24.63% |
20.40% |
19.84% |
19.02% |
19.56% |
16.19% |
0.00% |
5.82% |
8.17% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.36 |
1.16 |
1.06 |
1.15 |
1.14 |
1.19 |
1.06 |
0.00 |
1.08 |
1.33 |
0.98 |
Enterprise Value to Revenue (EV/Rev) |
|
0.15 |
0.12 |
0.10 |
0.13 |
0.13 |
0.13 |
0.10 |
0.00 |
0.00 |
0.14 |
0.09 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
5.98 |
5.17 |
3.77 |
5.04 |
5.10 |
5.40 |
5.38 |
0.00 |
0.00 |
22.72 |
17.16 |
Enterprise Value to EBIT (EV/EBIT) |
|
7.24 |
6.11 |
4.26 |
5.55 |
5.51 |
5.80 |
5.84 |
0.00 |
0.00 |
30.52 |
25.77 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
8.23 |
7.64 |
5.37 |
7.00 |
6.90 |
7.51 |
7.57 |
0.00 |
0.00 |
36.03 |
29.92 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
44.56 |
0.00 |
3.11 |
0.00 |
35.28 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
6.39 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
90.88 |
6.23 |
0.00 |
9.18 |
28.06 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
1.00 |
0.76 |
0.51 |
0.71 |
0.64 |
0.63 |
0.57 |
0.00 |
0.56 |
0.60 |
0.42 |
Long-Term Debt to Equity |
|
0.21 |
0.19 |
0.19 |
0.00 |
0.00 |
0.00 |
0.51 |
0.00 |
0.50 |
0.51 |
0.34 |
Financial Leverage |
|
1.09 |
0.88 |
0.71 |
0.76 |
0.80 |
0.69 |
0.54 |
0.00 |
0.60 |
0.59 |
0.42 |
Leverage Ratio |
|
3.41 |
3.08 |
2.83 |
2.88 |
2.92 |
2.74 |
2.62 |
0.00 |
2.84 |
2.92 |
2.81 |
Compound Leverage Factor |
|
3.41 |
3.16 |
2.86 |
2.94 |
2.96 |
2.77 |
2.66 |
0.00 |
3.22 |
2.98 |
2.98 |
Debt to Total Capital |
|
49.98% |
43.33% |
33.59% |
41.56% |
39.19% |
38.66% |
36.48% |
0.00% |
35.97% |
37.44% |
29.74% |
Short-Term Debt to Total Capital |
|
39.39% |
32.46% |
20.70% |
41.37% |
39.00% |
38.66% |
4.14% |
0.00% |
3.90% |
5.35% |
5.57% |
Long-Term Debt to Total Capital |
|
10.59% |
10.87% |
12.89% |
0.19% |
0.19% |
0.00% |
32.34% |
0.00% |
32.07% |
32.09% |
24.17% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.19% |
0.22% |
0.13% |
0.12% |
0.13% |
0.13% |
0.18% |
0.00% |
0.42% |
5.05% |
5.60% |
Common Equity to Total Capital |
|
49.83% |
56.46% |
66.28% |
58.32% |
60.68% |
61.21% |
63.35% |
0.00% |
63.61% |
57.51% |
64.66% |
Debt to EBITDA |
|
2.20 |
1.93 |
1.19 |
1.82 |
1.76 |
1.76 |
1.86 |
0.00 |
0.00 |
6.40 |
5.21 |
Net Debt to EBITDA |
|
2.05 |
1.73 |
0.89 |
1.47 |
1.38 |
1.58 |
1.70 |
0.00 |
0.00 |
5.64 |
4.51 |
Long-Term Debt to EBITDA |
|
0.47 |
0.48 |
0.46 |
0.01 |
0.01 |
0.00 |
1.65 |
0.00 |
0.00 |
5.48 |
4.24 |
Debt to NOPAT |
|
3.02 |
2.85 |
1.70 |
2.53 |
2.38 |
2.45 |
2.61 |
0.00 |
0.00 |
10.14 |
9.09 |
Net Debt to NOPAT |
|
2.83 |
2.56 |
1.27 |
2.05 |
1.87 |
2.19 |
2.39 |
0.00 |
0.00 |
8.95 |
7.87 |
Long-Term Debt to NOPAT |
|
0.64 |
0.72 |
0.65 |
0.01 |
0.01 |
0.00 |
2.32 |
0.00 |
0.00 |
8.69 |
7.38 |
Noncontrolling Interest Sharing Ratio |
|
0.90% |
0.37% |
0.27% |
0.28% |
0.29% |
0.29% |
0.24% |
0.00% |
0.00% |
4.42% |
7.97% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-152 |
-83 |
24 |
-156 |
-2.32 |
-72 |
-141 |
937 |
12 |
-133 |
-942 |
Operating Cash Flow to CapEx |
|
-23,848.23% |
-1,741.79% |
30,164.19% |
-18,912.97% |
16,241.95% |
-4,728.28% |
-2,346.87% |
-2,962.07% |
0.00% |
-21,009.72% |
2,974.09% |
Free Cash Flow to Firm to Interest Expense |
|
-27.94 |
-14.57 |
3.89 |
-21.51 |
-0.25 |
-8.05 |
-14.35 |
92.13 |
1.23 |
-13.30 |
-90.90 |
Operating Cash Flow to Interest Expense |
|
-21.04 |
-2.36 |
45.62 |
-45.35 |
9.93 |
-8.24 |
-4.51 |
-5.65 |
0.00 |
-12.77 |
10.62 |
Operating Cash Flow Less CapEx to Interest Expense |
|
-21.13 |
-2.50 |
45.46 |
-45.59 |
9.87 |
-8.42 |
-4.70 |
-5.84 |
0.00 |
-12.83 |
10.26 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
6.39 |
6.20 |
6.47 |
5.93 |
5.62 |
6.22 |
6.89 |
0.00 |
0.00 |
5.43 |
5.66 |
Fixed Asset Turnover |
|
925.35 |
885.01 |
830.58 |
766.00 |
786.15 |
831.01 |
775.33 |
0.00 |
0.00 |
566.70 |
440.87 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
887 |
865 |
762 |
923 |
924 |
979 |
922 |
0.00 |
917 |
1,063 |
948 |
Invested Capital Turnover |
|
10.40 |
10.14 |
10.72 |
9.72 |
9.12 |
10.07 |
11.73 |
0.00 |
0.00 |
10.00 |
22.32 |
Increase / (Decrease) in Invested Capital |
|
189 |
120 |
21 |
189 |
38 |
113 |
160 |
-923 |
-7.67 |
141 |
948 |
Enterprise Value (EV) |
|
1,207 |
1,005 |
808 |
1,064 |
1,051 |
1,162 |
974 |
0.00 |
993 |
1,413 |
928 |
Market Capitalization |
|
791 |
666 |
616 |
752 |
765 |
822 |
665 |
682 |
694 |
1,009 |
631 |
Book Value per Share |
|
$38.72 |
$42.44 |
$21.59 |
$22.96 |
$23.84 |
$25.76 |
$25.01 |
$0.00 |
$25.52 |
$26.62 |
$26.43 |
Tangible Book Value per Share |
|
$23.67 |
$27.77 |
$14.49 |
$15.80 |
$16.82 |
$18.72 |
$18.19 |
$0.00 |
$16.95 |
$13.65 |
$13.75 |
Total Capital |
|
887 |
865 |
762 |
923 |
924 |
979 |
922 |
0.00 |
917 |
1,063 |
948 |
Total Debt |
|
443 |
375 |
256 |
384 |
362 |
378 |
336 |
0.00 |
330 |
398 |
282 |
Total Long-Term Debt |
|
94 |
94 |
98 |
1.75 |
1.75 |
0.00 |
298 |
0.00 |
294 |
341 |
229 |
Net Debt |
|
415 |
337 |
191 |
311 |
284 |
339 |
308 |
0.00 |
295 |
351 |
244 |
Capital Expenditures (CapEx) |
|
0.48 |
0.77 |
0.93 |
1.74 |
0.57 |
1.56 |
1.89 |
1.94 |
0.00 |
0.61 |
3.70 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
-0.41 |
-0.65 |
-0.50 |
-0.49 |
-0.22 |
-0.43 |
-0.61 |
-0.17 |
-0.34 |
Net Nonoperating Obligations (NNO) |
|
443 |
375 |
256 |
384 |
362 |
378 |
336 |
0.00 |
330 |
398 |
282 |
Total Depreciation and Amortization (D&A) |
|
8.08 |
3.79 |
3.74 |
3.85 |
3.83 |
3.23 |
3.31 |
3.50 |
2.95 |
5.37 |
5.65 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$1.64 |
$1.64 |
$1.93 |
$1.43 |
$1.53 |
$1.79 |
$0.00 |
$0.00 |
$0.22 |
$0.39 |
$0.28 |
Adjusted Weighted Average Basic Shares Outstanding |
|
22.86M |
22.81M |
23.40M |
23.49M |
23.42M |
23.40M |
0.00 |
0.00 |
22.85M |
23.03M |
23.16M |
Adjusted Diluted Earnings per Share |
|
$1.53 |
$1.64 |
$1.83 |
$1.35 |
$1.46 |
$1.79 |
$0.00 |
$0.00 |
$0.21 |
$0.37 |
$0.27 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
24.43M |
24.33M |
24.69M |
24.73M |
24.66M |
24.65M |
0.00 |
0.00 |
23.82M |
23.98M |
23.97M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$1.64 |
$0.00 |
$0.00 |
$0.00 |
$1.79 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
23.03M |
23.38M |
23.45M |
23.53M |
23.26M |
23.34M |
0.00 |
0.00 |
22.89M |
23.18M |
23.02M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
37 |
38 |
45 |
33 |
35 |
41 |
19 |
13 |
4.48 |
8.11 |
6.26 |
Normalized NOPAT Margin |
|
1.77% |
1.81% |
2.35% |
1.69% |
1.53% |
1.32% |
0.76% |
0.65% |
0.17% |
0.30% |
0.23% |
Pre Tax Income Margin |
|
2.18% |
2.25% |
3.05% |
2.21% |
1.98% |
1.80% |
0.96% |
0.89% |
0.25% |
0.38% |
0.29% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
8.46 |
8.06 |
9.38 |
5.85 |
4.89 |
6.23 |
2.41 |
1.76 |
0.57 |
1.00 |
0.73 |
NOPAT to Interest Expense |
|
6.92 |
6.58 |
7.31 |
4.55 |
3.84 |
4.64 |
1.91 |
1.33 |
0.46 |
0.83 |
0.54 |
EBIT Less CapEx to Interest Expense |
|
8.37 |
7.92 |
9.23 |
5.61 |
4.82 |
6.05 |
2.22 |
1.57 |
0.00 |
0.94 |
0.37 |
NOPAT Less CapEx to Interest Expense |
|
6.83 |
6.44 |
7.16 |
4.31 |
3.78 |
4.47 |
1.72 |
1.14 |
0.00 |
0.77 |
0.19 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
15.43% |
17.02% |
15.38% |
18.26% |
21.54% |
23.90% |
32.26% |
37.94% |
0.00% |
31.55% |
36.52% |
Augmented Payout Ratio |
|
15.43% |
17.02% |
15.38% |
18.26% |
27.95% |
30.13% |
43.50% |
37.94% |
0.00% |
61.31% |
57.30% |
Key Financial Trends
A-Mark Precious Metals (NASDAQ: AMRK) has demonstrated a mixed but generally positive financial performance over the last several quarters leading up to Q2 2025.
Income Statement Trends:
- Revenue growth is strong, with total revenue increasing from approximately $2.07 billion in Q2 2024 to about $2.74 billion in Q2 2025, indicating expansion in business activities.
- Net income attributable to common shareholders, while fluctuating quarterly, showed resilience with a slight increase from $5.02 million in Q3 2024 to $6.56 million in Q2 2025.
- Basic earnings per share (EPS) have held relatively steady in the last two quarters, at $0.28 in Q2 2025, indicating stable profitability per share despite some market volatility.
- Net interest expense remains a consistent drag, with expenses around $10 million per quarter and net interest income showing a negative value, highlighting ongoing borrowing costs.
- Notable volatility in net realized and unrealized capital gains, with losses of approximately $2.41 million in Q2 2025 compared to gains earlier, could signal market or investment uncertainties affecting the company’s investments.
- Other non-interest income consistently contributes overwhelmingly to revenue, maintaining around $2.6 to $3.1 billion quarterly, demonstrating strong operational non-interest revenue streams.
- Total non-interest expenses have been rising, with $2.73 billion recorded in Q2 2025, reducing operating margin despite revenue growth.
Balance Sheet Highlights:
- Total assets grew to about $1.87 billion at the end of Q2 2025 from $1.58 billion reported in Q2 2024, driven by increases in cash, trading securities, and other assets, reflecting asset base expansion.
- Long-term debt remains significant, though decreased from $340.99 million at Q1 2025 to $228.99 million at Q2 2025, showing debt management but still a considerable leverage presence.
- Total equity stayed relatively stable around $611 to $613 million across recent quarters, providing a solid cushion and indicating shareholder investment stability.
Cash Flow Observations:
- Net cash from continuing operating activities in Q2 2025 showed a robust $110 million inflow, a substantial improvement from a negative $127 million in Q1 2025, indicating better operational cash efficiency.
- Net cash from financing activities showed a significant outflow of $114 million in Q2 2025, mainly due to debt repayments exceeding issuances, potentially signaling tighter financial conditions or debt reduction strategies.
- Capital expenditures remained consistent at a few million dollars per quarter, suggesting ongoing investment in property and equipment to maintain or expand operations.
- Net change in cash & equivalents was negative $9.16 million in Q2 2025, reflecting combined impacts of operating cash flow swings and financing outflows, signaling possible liquidity pressures if trends persist.
Summary:
Over the last several quarters, A-Mark Precious Metals has expanded revenue and maintained profitability, with earnings per share stabilizing despite fluctuations in capital gains and rising expenses. The company has actively managed its debt, reducing long-term liabilities, but still carries significant leverage. Operational cash flow improved substantially in Q2 2025, which is a positive sign, yet the cash outflows from financing activities and declining cash balances highlight cautious financial management. Investors should watch for the company's ability to control expenses, manage market-related investment risks, and sustain operational cash flows to support growth and leverage reduction strategies.
08/09/25 02:23 PMAI Generated. May Contain Errors.