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Associated Capital Group (AC) Financials

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Annual Income Statements for Associated Capital Group

Annual Income Statements for Associated Capital Group

This table shows Associated Capital Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 3.00 -0.11 10 8.84 -58 39 19 59 -49 37 44
Consolidated Net Income / (Loss)		 -1.16 -0.89 10 8.68 -57 46 20 64 -46 38 44
Net Income / (Loss) Continuing Operations		 -1.16 -0.89 10 8.68 -57 45 21 64 -46 38 44
Total Pre-Tax Income 		-0.38 -2.58 14 6.26 -69 57 30 81 -60 47 53
Total Revenue		 32 31 51 48 -52 74 56 21 15 56 56
Net Interest Income / (Expense)		 4.42 0.00 0.00 0.00 13 13 0.00 0.00 0.00 0.00 0.00
Total Interest Income		 4.42 0.00 0.00 0.00 13 13 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 0.00 0.00 0.00 0.00 0.26 0.00 0.00 0.00 0.00 0.00 0.00
Total Non-Interest Income		 28 31 51 48 -65 61 56 21 15 56 56
Net Realized & Unrealized Capital Gains on Investments		 6.50 8.28 20 21 -65 61 37 - - 43 43
Other Non-Interest Income		 - - - 27 - - 19 21 15 13 13
Total Non-Interest Expense		 31 38 44 48 17 13 31 40 26 30 32
Salaries and Employee Benefits		 24 4.93 2.46 - 27 24 19 24 19 17 18
Other Operating Expenses		 6.73 33 42 48 -13 -11 12 16 7.61 12 14
Nonoperating Income / (Expense), net		 -1.38 4.72 7.26 6.28 - -3.50 5.49 100 -49 21 29
Income Tax Expense		 0.78 -1.69 3.88 -2.42 -11 13 9.37 18 -15 9.14 8.31
Net Income / (Loss) Attributable to Noncontrolling Interest		 -4.16 -0.78 0.25 -0.15 0.72 3.52 1.06 4.43 3.39 0.28 0.10
Basic Earnings per Share		 $0.12 $0.00 $0.41 $0.37 ($2.52) $1.74 $0.84 $2.68 ($2.22) $1.72 $2.08
Weighted Average Basic Shares Outstanding		 25.34M 24.89M 24.87M 23.79M 23.07M 22.53M 22.37M 22.12M 22.02M 21.77M 21.35M
Diluted Earnings per Share		 $0.12 $0.00 $0.41 $0.37 ($2.52) $1.74 $0.84 $2.68 ($2.22) $1.72 $2.08
Weighted Average Diluted Shares Outstanding		 25.56M 25.17M 25.18M 23.93M 23.07M 22.53M 22.37M 22.12M 22.02M 21.77M 21.35M
Weighted Average Basic & Diluted Shares Outstanding		 25.86M 25.44M 24.26M 23.64M 22.59M 22.48M 22.27M 22.05M 21.96M 21.49M 21.15M
Cash Dividends to Common per Share		 - - $0.20 $0.20 $0.20 $0.20 - - - $0.20 $2.20

Quarterly Income Statements for Associated Capital Group

This table shows Associated Capital Group's 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 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -16 14 18 3.37 -1.87 18 14 2.99 23 4.28 7.67
Consolidated Net Income / (Loss)		 -16 14 18 3.30 -1.75 18 14 2.89 23 4.29 7.77
Net Income / (Loss) Continuing Operations		 -16 14 18 3.30 -1.75 18 14 2.89 23 4.29 7.77
Total Pre-Tax Income 		-21 17 20 5.14 -1.75 24 18 3.58 30 1.18 11
Total Revenue		 2.56 7.54 2.47 2.38 4.16 47 20 0.00 2.42 51 13
Net Interest Income / (Expense)		 0.00 - 0.00 0.00 6.34 -6.34 0.00 0.00 0.00 - 0.00
Total Interest Income		 0.00 - 0.00 0.00 6.34 -6.34 0.00 0.00 0.00 - 0.00
Total Interest Expense		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Non-Interest Income		 2.56 7.54 2.47 2.38 -2.17 53 20 0.00 2.42 51 13
Net Realized & Unrealized Capital Gains on Investments		 - - - - -2.17 - 17 - - - 11
Other Non-Interest Income		 2.56 7.54 2.47 2.38 - - 3.01 - 2.42 - 2.13
Total Non-Interest Expense		 5.69 10 7.60 5.85 5.91 10 7.98 3.67 9.33 11 7.42
Salaries and Employee Benefits		 3.59 8.35 3.57 3.79 4.08 5.81 3.82 3.94 4.22 6.32 4.45
Other Operating Expenses		 2.10 1.80 4.03 2.06 1.83 4.46 4.16 2.33 5.12 2.03 2.97
Nonoperating Income / (Expense), net		 -18 20 25 8.61 - - 5.83 7.25 37 -38 4.94
Income Tax Expense		 -4.91 2.86 1.58 1.84 - - 3.80 0.68 6.93 -3.11 2.78
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.49 0.42 0.27 -0.07 0.12 -0.04 0.04 -0.09 0.15 0.01 0.10
Basic Earnings per Share		 ($0.75) $0.62 $0.81 $0.15 $0.00 $0.76 $0.64 $0.14 $1.09 $0.21 $0.36
Weighted Average Basic Shares Outstanding		 22.01M 22.02M 21.97M 21.87M 21.67K 21.77M 21.50M 21.39K 21.28M 21.35M 21.17M
Weighted Average Diluted Shares Outstanding		 22.01M 22.02M 21.97M 21.87M 21.67K 21.77M 21.40M 21.39M 21.28M 21.35M 21.14M
Weighted Average Basic & Diluted Shares Outstanding		 22.00M 21.96M 21.89M 21.69M 21.59M 21.49M 21.40M 21.27M 21.24M 21.15M 21.14M
Cash Dividends to Common per Share		 $0.00 - - $0.10 $0.00 - $0.00 $0.10 $2.00 - $0.00

Annual Cash Flow Statements for Associated Capital Group

This table details how cash moves in and out of Associated Capital Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 86 -80 108 -21 116 -61 -302 289 -107 126 -21
Net Cash From Operating Activities		 -59 -47 6.59 -68 77 -44 -279 238 -71 145 27
Net Cash From Continuing Operating Activities		 -59 -47 6.59 -68 77 -42 -279 238 -71 145 27
Net Income / (Loss) Continuing Operations		 -1.16 -0.89 10 8.68 -57 45 19 64 -46 38 44
Consolidated Net Income / (Loss)		 -1.16 -0.89 10 8.68 -57 43 20 64 -46 38 44
Depreciation Expense		 0.01 0.01 0.02 0.02 0.02 0.02 0.05 0.38 0.34 0.36 0.36
Non-Cash Adjustments to Reconcile Net Income		 -18 1.68 -22 -2.82 72 -56 -0.21 -82 46 -27 -29
Changes in Operating Assets and Liabilities, net		 -40 -48 18 -74 63 -31 -300 256 -72 134 11
Net Cash From Investing Activities		 3.84 -42 -4.12 -19 4.74 -5.06 -174 65 0.40 5.75 11
Net Cash From Continuing Investing Activities		 3.84 -42 -4.12 -19 4.74 -5.06 -174 65 0.40 5.75 11
Purchase of Investment Securities		 -1.43 -43 -5.11 -20 -12 -12 -189 -184 -8.46 -1.49 -41
Sale and/or Maturity of Investments		 5.27 1.54 0.99 1.17 17 6.45 15 249 10 7.24 52
Net Cash From Financing Activities		 141 9.28 106 65 35 -12 151 -14 -37 -25 -59
Net Cash From Continuing Financing Activities		 141 9.28 106 65 35 -12 151 -14 -37 -25 -59
Repurchase of Common Equity		 0.00 -0.04 -42 -21 -7.01 -4.14 -7.44 -7.64 -2.58 -16 -12
Payment of Dividends		 - 0.00 -2.50 -4.77 -4.67 -4.51 -6.72 -4.42 -4.40 -4.35 -47
Other Financing Activities, Net		 151 25 0.01 41 -3.63 -2.93 165 -2.33 -30 -4.37 -0.61
Cash Interest Paid		 0.98 1.43 0.30 0.23 0.26 0.20 0.18 0.31 0.22 0.46 0.27
Cash Income Taxes Paid		 0.00 0.00 2.99 2.08 -0.14 4.70 2.00 17 4.02 7.20 5.81

Quarterly Cash Flow Statements for Associated Capital Group

This table details how cash moves in and out of Associated Capital Group's 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 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 -57 -72 178 -13 13 -52 -6.07 25 -80 40 -8.35
Net Cash From Operating Activities		 -60 -40 184 -4.19 15 -50 -1.11 30 -74 73 -8.14
Net Cash From Continuing Operating Activities		 -60 -40 184 -4.19 15 -50 -1.11 30 -74 73 -8.14
Net Income / (Loss) Continuing Operations		 -16 14 18 3.30 0.11 16 14 2.89 23 4.29 7.77
Consolidated Net Income / (Loss)		 -16 14 18 3.30 0.11 16 14 2.89 23 4.29 7.77
Depreciation Expense		 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09
Non-Cash Adjustments to Reconcile Net Income		 -0.63 -8.13 -16 -0.80 190 -200 -15 4.77 -12 -7.28 -4.47
Changes in Operating Assets and Liabilities, net		 -43 -46 181 -6.78 -175 134 -0.44 22 -86 76 -12
Net Cash From Investing Activities		 3.12 0.15 -0.57 1.25 1.65 3.42 -0.66 0.02 -2.32 14 1.22
Net Cash From Continuing Investing Activities		 3.12 0.15 -0.57 1.25 1.65 3.42 -0.66 0.02 -2.32 14 1.22
Purchase of Investment Securities		 -1.62 -2.58 -1.03 -0.08 -0.05 -0.32 -3.95 -1.08 -4.16 -32 -0.00
Sale and/or Maturity of Investments		 6.21 2.73 0.46 1.33 1.71 3.75 3.29 1.10 1.83 46 1.22
Net Cash From Financing Activities		 -0.44 -32 -5.18 -9.88 -3.89 -6.09 -4.31 -4.36 -3.41 -47 -1.43
Net Cash From Continuing Financing Activities		 -0.44 -32 -5.18 -9.88 -3.89 -6.09 -4.31 -4.36 -3.41 -47 -1.43
Repurchase of Common Equity		 -0.44 -0.52 -1.95 -7.62 -3.82 -2.95 -3.95 -2.22 -3.41 -2.27 -1.42
Other Financing Activities, Net		 0.00 -29 -3.23 -0.08 -0.08 -0.99 -0.36 - - -0.25 -0.01
Cash Interest Paid		 0.07 0.07 0.10 0.06 -0.02 0.33 0.08 0.07 0.08 0.04 0.05
Cash Income Taxes Paid		 0.08 0.08 0.07 0.52 0.26 6.35 0.03 4.33 0.15 1.30 0.07

Annual Balance Sheets for Associated Capital Group

This table presents Associated Capital Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 755 837 953 1,007 954 1,011 1,175 1,203 928 944 935
Cash and Due from Banks		 286 206 314 293 410 342 40 319 218 317 300
Trading Account Securities		 - 334 343 353 230 300 769 664 532 429 407
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Customer and Other Receivables		 0.40 7.46 1.52 16 1.31 4.34 4.74 - 15 17 28
Goodwill		 3.25 3.25 3.42 3.42 3.52 3.52 3.52 3.52 3.52 3.52 3.52
Other Assets		 466 287 291 342 310 361 357 217 159 177 197
Total Liabilities & Shareholders' Equity		 755 837 953 1,007 954 1,011 1,175 1,203 928 944 935
Total Liabilities		 103 79 74 43 38 63 66 66 27 31 37
Short-Term Debt		 43 51 2.40 13 5.51 15 6.50 9.34 7.78 4.46 5.49
Other Short-Term Payables		 11 12 54 18 19 - 24 20 14 15 18
Other Long-Term Liabilities		 49 16 18 12 14 48 36 36 5.58 11 14
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 68 5.74 4.23 46 50 50 207 202 10 6.10 5.59
Total Equity & Noncontrolling Interests		 583 752 874 918 866 897 901 935 890 907 893
Total Preferred & Common Equity		 583 749 874 918 866 896 899 937 890 907 893
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 583 749 874 918 866 896 899 937 890 907 893
Common Stock		 0.00 999 1,007 1,011 1,008 1,003 999 990 999 999 999
Retained Earnings		 0.00 2.07 7.33 14 -40 -0.70 14 68 15 48 46
Treasury Stock		 0.00 -0.04 -42 -63 -102 -106 -114 -121 -124 -140 -152

Quarterly Balance Sheets for Associated Capital Group

This table presents Associated Capital Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2022 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 6/30/2022 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 1,120 987 943 934 926 954 949 977 933
Cash and Due from Banks		 344 288 397 381 381 309 341 261 294
Trading Account Securities		 595 522 372 364 359 449 417 504 416
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Customer and Other Receivables		 - - 0.13 0.27 16 21 30 27 26
Goodwill		 3.52 3.52 3.52 3.52 3.52 3.52 3.52 3.52 3.52
Other Assets		 177 173 170 184 166 172 158 181 193
Total Liabilities & Shareholders' Equity		 1,120 987 943 934 926 954 949 977 933
Total Liabilities		 31 98 30 27 24 32 28 79 29
Short-Term Debt		 12 56 15 9.92 5.62 6.33 6.64 7.87 5.26
Other Short-Term Payables		 5.94 - - 11 - 12 12 - 12
Other Long-Term Liabilities		 13 41 14 5.94 18 14 8.76 71 11
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 203 9.78 7.23 7.09 7.13 5.78 5.69 5.84 5.68
Total Equity & Noncontrolling Interests		 886 879 906 900 896 917 915 893 899
Total Preferred & Common Equity		 887 879 906 900 896 917 915 893 899
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 887 879 906 900 896 917 915 893 899
Common Stock		 990 999 999 999 999 999 999 999 999
Retained Earnings		 20 3.66 33 34 34 62 63 44 53
Treasury Stock		 -123 -123 -126 -134 -137 -144 -146 -150 -154

Annual Metrics And Ratios for Associated Capital Group

This table displays calculated financial ratios and metrics derived from Associated Capital Group's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% -2.59% 64.33% -7.09% -209.61% 242.05% -24.51% -62.53% -27.22% 265.88% 0.41%
EBITDA Growth		 0.00% -822.52% 197.54% -99.99% -6,884,100.00% 188.23% -59.75% -176.48% 41.59% 342.16% -7.83%
EBIT Growth		 0.00% -834.00% 197.14% -100.21% -458,973.33% 188.18% -59.82% -178.20% 40.96% 331.63% -7.94%
NOPAT Growth		 0.00% -834.00% 201.27% -100.40% -231,699.47% 198.17% -64.62% -189.14% 47.18% 366.38% -3.66%
Net Income Growth		 0.00% 22.99% 1,274.97% -17.05% -760.79% 181.01% -57.24% 220.14% -171.54% 182.88% 17.76%
EPS Growth		 0.00% -100.00% 0.00% -9.76% -781.08% 169.05% -51.72% 219.05% -182.84% 177.48% 20.93%
Operating Cash Flow Growth		 0.00% 19.26% 113.91% -1,126.41% 213.84% -157.59% -530.15% 185.26% -129.62% 305.63% -81.48%
Free Cash Flow Firm Growth		 0.00% 0.00% 42.95% -43.66% 108.14% -21.85% -2,291.77% 64.99% 588.02% -94.96% 192.01%
Invested Capital Growth		 0.00% 16.31% 9.00% 11.02% -5.74% 4.47% 15.79% 2.91% -20.83% 1.03% -1.50%
Revenue Q/Q Growth		 0.00% 0.00% 11.63% 111.96% -275.98% 340.91% 1,125.28% -83.07% 258.08% 236.69% 514.81%
EBITDA Q/Q Growth		 0.00% 0.00% 565.17% 100.01% -466.86% 951.52% 289.03% -123.01% 73.79% 309.76% 211.85%
EBIT Q/Q Growth		 0.00% 0.00% 574.31% 99.86% -466.15% 949.35% 287.91% -123.57% 73.19% 301.16% 208.39%
NOPAT Q/Q Growth		 0.00% 0.00% -51.84% 99.73% -522.35% 798.73% 316.71% -124.82% 73.19% -47.40% -73.18%
Net Income Q/Q Growth		 0.00% 0.00% -2.52% 353.18% -5,702.12% 567.06% 204.43% -41.14% 7.82% 12.11% -23.79%
EPS Q/Q Growth		 0.00% 0.00% -6.82% 346.67% -2,700.00% 434.62% 189.36% -40.71% 7.50% 8.86% -20.91%
Operating Cash Flow Q/Q Growth		 0.00% -215.62% 112.29% 60.63% 36.21% -261.01% -2.82% -50.47% 74.84% -6.30% 128.12%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -68.01% 134.17% -80.98% -7.82% 80.86% -42.15% -84.85% -56.10%
Invested Capital Q/Q Growth		 0.00% 0.00% -2.54% 2.51% -6.75% 1.44% 4.49% -16.53% -3.94% 1.00% -0.30%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 3.16% -23.40% 13.89% 0.00% 0.00% 82.10% 43.78% -89.36% -71.72% 47.47% 43.57%
EBIT Margin		 3.11% -23.45% 13.86% -0.03% 0.00% 82.08% 43.68% -91.17% -73.96% 46.82% 42.93%
Profit (Net Income) Margin		 -3.62% -2.86% 20.47% 18.28% 0.00% 62.84% 35.59% 304.12% -298.94% 67.71% 79.42%
Tax Burden Percent		 302.88% 34.59% 72.98% 138.63% 83.33% 81.24% 66.52% 78.23% 75.29% 80.50% 84.25%
Interest Burden Percent		 -38.43% 35.31% 202.41% -41,760.00% 100.00% 94.24% 122.50% -426.39% 536.89% 179.66% 219.60%
Effective Tax Rate		 0.00% 0.00% 27.02% -38.63% 0.00% 22.07% 31.37% 21.77% 0.00% 19.50% 15.75%
Return on Invested Capital (ROIC)		 0.10% -0.68% 0.61% 0.00% 0.00% 5.02% 1.61% -1.32% -0.77% 2.30% 2.22%
ROIC Less NNEP Spread (ROIC-NNEP)		 -4.17% 8.29% 20.58% 111.05% 0.00% -3.17% 30.93% 990.88% -440.39% 275.56% 488.59%
Return on Net Nonoperating Assets (RNNOA)		 -0.28% 0.55% 0.67% 0.94% 0.00% -0.03% 0.32% 6.99% -3.70% 1.86% 2.68%
Return on Equity (ROE)		 -0.18% -0.13% 1.28% 0.94% -6.10% 4.99% 1.93% 5.67% -4.47% 4.16% 4.91%
Cash Return on Invested Capital (CROIC)		 0.00% -15.76% -8.00% -10.44% 0.83% 0.66% -13.02% -4.19% 22.49% 1.27% 3.73%
Operating Return on Assets (OROA)		 0.13% -0.92% 0.79% 0.00% 0.00% 6.18% 2.23% -1.60% -1.06% 2.79% 2.56%
Return on Assets (ROA)		 -0.15% -0.11% 1.17% 0.89% 0.00% 4.73% 1.82% 5.35% -4.27% 4.03% 4.73%
Return on Common Equity (ROCE)		 -0.16% -0.12% 1.27% 0.92% -5.79% 4.72% 1.69% 4.63% -4.00% 4.12% 4.87%
Return on Equity Simple (ROE_SIMPLE)		 -0.20% -0.12% 1.20% 0.95% -6.62% 5.19% 2.21% 6.79% -5.11% 4.16% 4.98%
Net Operating Profit after Tax (NOPAT)		 0.70 -5.11 5.17 -0.02 -48 47 17 -15 -7.88 21 20
NOPAT Margin		 2.18% -16.41% 10.11% -0.04% 0.00% 63.97% 29.98% -71.32% -51.77% 37.69% 36.16%
Net Nonoperating Expense Percent (NNEP)		 4.27% -8.97% -19.97% -111.05% 97.70% 8.19% -29.31% -992.20% 439.63% -273.26% -486.37%
SG&A Expenses to Revenue		 75.81% 15.85% 4.82% 0.00% 0.00% 32.18% 34.80% 116.88% 124.00% 30.95% 32.70%
Operating Expenses to Revenue		 96.89% 123.45% 86.14% 100.03% 0.00% 17.92% 56.32% 191.17% 173.96% 53.18% 57.07%
Earnings before Interest and Taxes (EBIT)		 0.99 -7.30 7.09 -0.02 -69 61 24 -19 -11 26 24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1.01 -7.28 7.10 0.00 -69 61 24 -19 -11 26 24
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.99 0.91 0.85 0.89 0.96 0.85 1.00 1.03 0.81 0.82
Price to Tangible Book Value (P/TBV)		 0.00 0.99 0.91 0.85 0.90 0.96 0.86 1.00 1.03 0.81 0.82
Price to Revenue (P/Rev)		 0.00 23.78 15.58 16.42 0.00 11.63 13.76 44.70 60.14 13.12 13.01
Price to Earnings (P/E)		 0.00 0.00 77.95 88.29 0.00 21.95 40.84 15.80 0.00 19.52 16.41
Dividend Yield		 0.00% 0.00% 0.32% 0.91% 0.58% 0.52% 0.87% 0.47% 0.48% 0.59% 6.42%
Earnings Yield		 0.00% 0.00% 1.28% 1.13% 0.00% 4.56% 2.45% 6.33% 0.00% 5.12% 6.09%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.73 0.56 0.56 0.45 0.61 0.85 0.72 0.79 0.46 0.49
Enterprise Value to Revenue (EV/Rev)		 0.00 19.06 9.56 11.50 0.00 7.90 16.92 39.49 46.98 7.61 7.85
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 68.84 546,628.36 0.00 9.62 38.65 0.00 0.00 16.04 18.01
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 69.01 0.00 0.00 9.63 38.73 0.00 0.00 16.26 18.29
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 94.56 0.00 0.00 12.35 56.43 0.00 0.00 20.19 21.70
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 74.23 0.00 5.44 0.00 0.00 3.47 0.00 2.92 16.34
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 52.99 94.70 0.00 0.00 3.10 36.45 12.92
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.07 0.07 0.00 0.01 0.01 0.02 0.01 0.01 0.01 0.00 0.01
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.07 0.07 0.03 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Leverage Ratio		 1.16 1.13 1.09 1.06 1.04 1.05 1.06 1.06 1.05 1.03 1.04
Compound Leverage Factor		 -0.45 0.40 2.21 -444.09 1.04 0.99 1.30 -4.51 5.61 1.85 2.28
Debt to Total Capital		 6.25% 6.27% 0.27% 1.36% 0.60% 1.55% 0.58% 0.81% 0.86% 0.49% 0.61%
Short-Term Debt to Total Capital		 6.25% 6.27% 0.27% 1.36% 0.60% 1.55% 0.58% 0.81% 0.86% 0.49% 0.61%
Long-Term Debt 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%
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		 9.84% 1.00% 0.48% 4.73% 5.40% 5.34% 18.77% 17.50% 1.12% 0.67% 0.62%
Common Equity to Total Capital		 83.92% 92.73% 99.24% 93.91% 94.00% 93.12% 80.64% 81.69% 98.02% 98.85% 98.77%
Debt to EBITDA		 43.05 -6.95 0.34 13,281.00 -0.08 0.25 0.27 -0.50 -0.71 0.17 0.23
Net Debt to EBITDA		 -240.21 21.30 -43.88 -279,831.00 5.87 -5.39 -1.35 16.56 19.29 -11.84 -12.06
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 62.37 -9.92 0.46 -638.66 -0.11 0.31 0.39 -0.63 -0.99 0.21 0.27
Net Debt to NOPAT		 -347.99 30.37 -60.27 13,456.64 8.38 -6.91 -1.97 20.75 26.72 -14.91 -14.54
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Noncontrolling Interest Sharing Ratio		 10.49% 5.43% 0.76% 2.74% 5.11% 5.43% 12.68% 18.26% 10.35% 0.90% 0.65%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -118 -68 -97 7.90 6.17 -135 -47 231 12 34
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 30.14 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 293.82 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 293.82 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.06 0.05 0.00 0.08 0.05 0.02 0.01 0.06 0.06
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 695 808 881 978 922 963 1,115 1,147 908 918 904
Invested Capital Turnover		 0.05 0.04 0.06 0.05 0.00 0.08 0.05 0.02 0.01 0.06 0.06
Increase / (Decrease) in Invested Capital		 0.00 113 73 97 -56 41 152 32 -239 9.36 -14
Enterprise Value (EV)		 0.00 593 489 547 418 584 945 826 715 424 439
Market Capitalization		 0.00 740 797 780 773 860 769 935 916 731 728
Book Value per Share		 $23.01 $29.44 $34.49 $38.74 $38.33 $39.86 $40.30 $42.48 $40.46 $42.01 $42.03
Tangible Book Value per Share		 $22.88 $29.32 $34.35 $38.59 $38.18 $39.70 $40.14 $42.32 $40.30 $41.84 $41.87
Total Capital		 695 808 881 978 922 963 1,115 1,147 908 918 904
Total Debt		 43 51 2.40 13 5.51 15 6.50 9.34 7.78 4.46 5.49
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -242 -155 -312 -280 -404 -327 -33 -310 -211 -313 -294
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 1.85 -4.22 -5.30 -8.70 9.18 0.84 -3.13 -79 38 -17 -24
Net Nonoperating Obligations (NNO)		 43 51 2.40 13 5.51 15 6.50 9.34 7.78 4.46 5.49
Total Depreciation and Amortization (D&A)		 0.01 0.01 0.02 0.02 0.02 0.02 0.05 0.38 0.34 0.36 0.36
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.12 $0.00 $0.41 $0.37 ($2.52) $1.74 $0.84 $2.68 ($2.22) $1.72 $2.08
Adjusted Weighted Average Basic Shares Outstanding		 25.34M 24.89M 24.87M 23.79M 23.07M 22.53M 22.37M 22.12M 22.02M 21.77M 21.35M
Adjusted Diluted Earnings per Share		 $0.12 $0.00 $0.41 $0.37 ($2.52) $1.74 $0.84 $2.68 ($2.22) $1.72 $2.08
Adjusted Weighted Average Diluted Shares Outstanding		 25.56M 25.17M 25.18M 23.93M 23.07M 22.53M 22.37M 22.12M 22.02M 21.77M 21.35M
Adjusted Basic & Diluted Earnings per Share		 $0.12 $0.00 $0.00 $0.00 $0.00 $1.74 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 25.86M 25.44M 24.26M 23.64M 22.59M 22.48M 22.27M 22.05M 21.96M 21.49M 21.15M
Normalized Net Operating Profit after Tax (NOPAT)		 0.70 -5.11 5.17 -0.01 -46 47 17 -15 -7.88 21 20
Normalized NOPAT Margin		 2.18% -16.41% 10.11% -0.02% 0.00% 63.97% 29.98% -71.32% -51.77% 37.69% 36.16%
Pre Tax Income Margin		 -1.20% -8.28% 28.05% 13.18% 0.00% 77.35% 53.51% 388.74% -397.06% 84.11% 94.27%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 -262.83 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 -183.98 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -262.83 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -183.98 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 23.92% 54.91% -8.13% 9.71% 33.79% 6.94% -9.67% 11.52% 105.23%
Augmented Payout Ratio		 0.00% -4.94% 421.57% 299.27% -20.35% 18.60% 71.22% 18.95% -15.33% 54.79% 131.89%

Quarterly Metrics And Ratios for Associated Capital Group

This table displays calculated financial ratios and metrics derived from Associated Capital Group's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 21.31% 143.51% -4.53% -6.44% 62.49% 519.61% 22.15% -100.00% -41.99% 8.16% -34.25%
EBITDA Growth		 -3,698.75% 92.41% -56.81% -57.99% 45.44% 1,546.08% 3.23% -5.97% -311.64% 8.58% -52.22%
EBIT Growth		 -1,751.48% 92.16% -55.26% -56.99% 44.14% 1,492.89% 3.18% -5.85% -295.65% 8.61% -52.60%
NOPAT Growth		 -1,310.00% 91.81% -103.93% -43.99% 44.14% 1,197.54% 17.34% -33.35% -335.99% 502.81% -55.52%
Net Income Growth		 -390.77% 37.77% 233.45% 110.97% 89.08% 28.94% -23.11% -12.30% 1,438.10% -76.39% -43.93%
EPS Growth		 -1,171.43% 40.91% 210.96% 111.03% 100.00% 22.58% -20.99% -6.67% 0.00% -72.37% 0.00%
Operating Cash Flow Growth		 -123.33% 83.99% 542.87% -686.69% 125.76% -24.37% -100.60% 809.67% -583.18% 246.20% -636.74%
Free Cash Flow Firm Growth		 238.69% 501.35% 334.28% 374.88% -91.64% -93.87% -101.36% -107.79% -109.43% 986.68% 164.70%
Invested Capital Growth		 -31.21% -20.83% -26.16% -16.77% -3.90% 1.03% 0.06% 1.23% -0.22% -1.50% -2.05%
Revenue Q/Q Growth		 0.63% 194.22% -67.30% -3.37% 74.77% 1,021.93% -44.87% -100.00% 0.00% 1,991.76% -74.22%
EBITDA Q/Q Growth		 -42.01% 16.88% -99.64% 32.96% 50.96% 2,303.14% 25.35% 26.58% -90.48% 681.14% -85.65%
EBIT Q/Q Growth		 -41.52% 16.40% -96.22% 32.38% 49.64% 2,184.55% 25.00% 26.08% -88.24% 672.21% -85.84%
NOPAT Q/Q Growth		 -41.52% 0.70% -116.98% 52.78% 45.09% 2,050.88% -116.36% 23.82% -79.52% 2,797.35% -97.13%
Net Income Q/Q Growth		 46.82% 187.97% 28.01% -81.69% -152.97% 1,138.56% -23.53% -79.12% 708.22% -81.67% 81.22%
EPS Q/Q Growth		 44.85% 182.67% 30.65% -81.48% -100.00% 0.00% -15.79% -78.13% 678.57% -80.73% 0.00%
Operating Cash Flow Q/Q Growth		 -8,479.55% 33.15% 559.05% -102.28% 467.92% -422.74% 97.78% 2,790.32% -350.49% 197.65% -111.20%
Free Cash Flow Firm Q/Q Growth		 1,010.31% -44.50% 36.92% -43.71% -80.45% -59.34% -130.53% -221.52% 76.32% 4,783.80% -85.29%
Invested Capital Q/Q Growth		 -14.16% -3.94% 2.23% -1.28% -0.88% 1.00% 1.25% -0.12% -2.29% -0.30% 0.68%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 -118.62% -33.51% -204.58% -141.94% -39.83% 78.21% -162.07% 0.00% -282.61% 78.52% 43.72%
EBIT Margin		 -122.13% -34.70% -208.24% -145.72% -41.99% 78.02% -165.06% 0.00% -286.38% 78.34% 43.04%
Profit (Net Income) Margin		 -624.67% 186.77% 731.12% 138.54% -41.99% 38.87% 460.21% 0.00% 968.53% 8.49% 59.67%
Tax Burden Percent		 76.51% 83.14% 91.94% 64.20% 100.00% 76.05% 78.49% 80.88% 77.14% 363.61% 73.67%
Interest Burden Percent		 668.52% -647.32% -381.88% -148.08% 100.00% 65.51% -355.23% -97.39% -438.45% 2.98% 188.19%
Effective Tax Rate		 0.00% 16.86% 8.06% 35.80% 0.00% 0.00% 21.51% 19.12% 22.86% -263.61% 26.33%
Return on Invested Capital (ROIC)		 0.00% -0.43% -2.65% -1.39% -0.52% 3.12% -1.85% 0.00% -2.21% 17.50% 1.70%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 189.42% 27.86% 48.82% -2.22% -90.27% 163.04% 0.00% 423.87% -2,788.72% 64.52%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 1.59% 2.04% 0.54% -0.08% -0.61% 1.91% 0.00% 3.17% -15.32% 0.41%
Return on Equity (ROE)		 -4.89% 1.16% -0.61% -0.85% -0.60% 2.51% 0.07% 0.00% 0.96% 2.18% 2.10%
Cash Return on Invested Capital (CROIC)		 34.44% 22.49% 29.26% 16.98% 8.29% 1.27% -1.41% -2.63% 8.53% 3.73% 3.70%
Operating Return on Assets (OROA)		 0.00% -0.50% -2.83% -2.12% -0.73% 4.65% -2.30% 0.00% -2.74% 4.66% 2.24%
Return on Assets (ROA)		 0.00% 2.67% 9.92% 2.02% -0.73% 2.31% 6.42% 0.00% 9.26% 0.51% 3.11%
Return on Common Equity (ROCE)		 -4.38% 1.04% -0.54% -0.76% -0.60% 2.49% 0.07% 0.00% 0.95% 2.17% 2.09%
Return on Equity Simple (ROE_SIMPLE)		 -5.62% 0.00% -1.54% 2.16% 3.76% 0.00% 3.66% 3.62% 6.53% 0.00% 4.26%
Net Operating Profit after Tax (NOPAT)		 -2.19 -2.17 -4.72 -2.23 -1.22 24 -3.90 -2.97 -5.33 144 4.13
NOPAT Margin		 -85.49% -28.85% -191.45% -93.55% -29.39% 51.11% -129.55% 0.00% -220.90% 284.85% 31.71%
Net Nonoperating Expense Percent (NNEP)		 9.22% -189.85% -30.51% -50.20% 1.69% 93.39% -164.88% -70.85% -426.09% 2,806.22% -62.82%
SG&A Expenses to Revenue		 140.16% 110.80% 144.83% 159.07% 97.96% 12.44% 126.87% 0.00% 174.53% 12.50% 34.16%
Operating Expenses to Revenue		 222.13% 134.70% 308.24% 245.72% 141.99% 21.98% 265.06% 0.00% 386.38% 21.66% 56.96%
Earnings before Interest and Taxes (EBIT)		 -3.13 -2.62 -5.13 -3.47 -1.75 36 -4.97 -3.67 -6.92 40 5.60
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -3.04 -2.53 -5.04 -3.38 -1.66 37 -4.88 -3.58 -6.83 40 5.69
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.91 1.03 0.89 0.86 0.84 0.81 0.76 0.80 0.80 0.82 0.90
Price to Tangible Book Value (P/TBV)		 0.91 1.03 0.89 0.86 0.84 0.81 0.77 0.80 0.81 0.82 0.91
Price to Revenue (P/Rev)		 0.00 60.14 53.23 51.53 45.35 13.12 52.99 67.12 78.96 13.01 16.49
Price to Earnings (P/E)		 0.00 0.00 0.00 42.11 22.80 19.52 20.91 21.98 12.33 16.41 21.23
Dividend Yield		 0.55% 0.48% 0.55% 0.57% 0.58% 0.59% 0.61% 0.59% 0.59% 6.42% 5.74%
Earnings Yield		 0.00% 0.00% 0.00% 2.37% 4.39% 5.12% 4.78% 4.55% 8.11% 6.09% 4.71%
Enterprise Value to Invested Capital (EV/IC)		 0.61 0.79 0.46 0.44 0.42 0.46 0.44 0.43 0.52 0.49 0.58
Enterprise Value to Revenue (EV/Rev)		 0.00 46.98 28.45 27.15 23.08 7.61 30.57 36.79 51.79 7.85 10.73
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 16.04 0.00 0.00 0.00 18.01 29.06
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 16.26 0.00 0.00 0.00 18.29 29.65
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 9.57 20.19 0.00 0.00 6.25 21.70 35.29
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 5.09 5.10 2.47 2.92 0.00 0.00 0.00 16.34 26.60
Enterprise Value to Free Cash Flow (EV/FCFF)		 1.45 3.10 1.34 2.37 4.97 36.45 0.00 0.00 6.09 12.92 15.51
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.06 0.01 0.02 0.01 0.01 0.00 0.01 0.01 0.01 0.01 0.01
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.15 0.01 0.07 0.01 0.03 0.01 0.01 0.01 0.01 0.01 0.01
Leverage Ratio		 1.20 1.05 1.09 1.03 1.07 1.03 1.03 1.03 1.06 1.04 1.03
Compound Leverage Factor		 8.01 -6.77 -4.18 -1.52 1.07 0.68 -3.67 -1.00 -4.63 0.03 1.94
Debt to Total Capital		 5.96% 0.86% 1.64% 1.08% 0.62% 0.49% 0.68% 0.72% 0.87% 0.61% 0.58%
Short-Term Debt to Total Capital		 5.96% 0.86% 1.64% 1.08% 0.62% 0.49% 0.68% 0.72% 0.87% 0.61% 0.58%
Long-Term Debt 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%
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		 1.03% 1.12% 0.78% 0.77% 0.79% 0.67% 0.62% 0.61% 0.64% 0.62% 0.62%
Common Equity to Total Capital		 93.00% 98.02% 97.58% 98.14% 98.60% 98.85% 98.69% 98.67% 98.49% 98.77% 98.80%
Debt to EBITDA		 -1.35 -0.71 -1.19 -0.71 -0.45 0.17 -0.39 -0.40 -0.36 0.23 0.29
Net Debt to EBITDA		 5.56 19.29 29.94 26.55 29.79 -11.84 18.41 20.13 11.61 -12.06 -15.90
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -1.92 -0.99 -1.66 -0.74 0.14 0.21 -0.50 -0.51 0.10 0.27 0.35
Net Debt to NOPAT		 7.88 26.72 41.65 27.70 -9.41 -14.91 24.11 25.76 -3.35 -14.54 -19.30
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Noncontrolling Interest Sharing Ratio		 10.34% 10.35% 10.35% 10.47% 0.94% 0.90% 0.71% 0.00% 0.72% 0.65% 0.63%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 427 237 324 182 36 15 -4.42 -14 -3.37 158 23
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.01 0.01 0.01 0.02 0.06 0.01 0.01 0.01 0.06 0.05
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 945 908 928 917 908 918 929 928 907 904 910
Invested Capital Turnover		 0.00 0.01 0.01 0.01 0.02 0.06 0.01 0.01 0.01 0.06 0.05
Increase / (Decrease) in Invested Capital		 -429 -239 -329 -185 -37 9.36 0.52 11 -1.97 -14 -19
Enterprise Value (EV)		 578 715 430 406 382 424 404 399 471 439 528
Market Capitalization		 800 916 804 770 750 731 701 728 718 728 811
Book Value per Share		 $39.95 $40.46 $41.26 $41.10 $41.30 $42.01 $42.66 $42.78 $41.97 $42.03 $42.50
Tangible Book Value per Share		 $39.79 $40.30 $41.10 $40.94 $41.14 $41.84 $42.49 $42.61 $41.81 $41.87 $42.33
Total Capital		 945 908 928 917 908 918 929 928 907 904 910
Total Debt		 56 7.78 15 9.92 5.62 4.46 6.33 6.64 7.87 5.49 5.26
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -232 -211 -382 -371 -376 -313 -302 -335 -253 -294 -289
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 14 -16 -23 -5.53 0.52 5.72 -18 -5.87 -29 140 -3.64
Net Nonoperating Obligations (NNO)		 56 7.78 15 9.92 5.62 4.46 6.33 6.64 7.87 5.49 5.26
Total Depreciation and Amortization (D&A)		 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.75) $0.62 $0.81 $0.15 $0.00 $0.76 $0.64 $0.14 $1.09 $0.21 $0.36
Adjusted Weighted Average Basic Shares Outstanding		 22.01M 22.02M 21.97M 21.87M 21.67K 21.77M 21.50M 21.39K 21.28M 21.35M 21.17M
Adjusted Diluted Earnings per Share		 ($0.75) $0.62 $0.81 $0.15 $0.00 $0.76 $0.64 $0.14 $1.09 $0.21 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 22.01M 22.02M 21.97M 21.87M 21.67K 21.77M 21.50M 21.39M 21.28M 21.35M 21.14M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 22.00M 21.96M 21.89M 21.69M 21.59M 21.49M 21.40M 21.27M 21.24M 21.15M 21.14M
Normalized Net Operating Profit after Tax (NOPAT)		 -2.19 -2.17 -4.72 -2.23 -1.22 17 -3.90 -5.07 -5.33 28 4.13
Normalized NOPAT Margin		 -85.49% -28.85% -191.45% -93.55% -29.39% 35.78% -129.55% 0.00% -220.90% 54.84% 31.71%
Pre Tax Income Margin		 -816.47% 224.65% 795.21% 215.79% -41.99% 51.11% 586.35% 0.00% 1,255.61% 2.33% 80.99%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -8.93% -9.67% 0.00% 22.62% 13.04% 11.52% 0.00% 12.96% 7.37% 105.23% 0.00%
Augmented Payout Ratio		 -13.40% -15.33% -30.23% 76.91% 54.35% 54.79% 54.59% 51.93% 28.84% 131.89% 24.30%

Financials Breakdown Chart

Key Financial Trends

Associated Capital Group has demonstrated solid financial performance and stability over the past two years through Q1 2025. Here are some key highlights and trends observed from the income statements, cash flow statements, and balance sheets:

  • Consistent positive net income: The company reported consolidated net income of $7.77 million in Q1 2025, up from $4.29 million in Q4 2024 and showing overall profitability across recent quarters.
  • Strong non-interest income contribution: Q1 2025 total non-interest income was $13.02 million, driven mainly by net realized and unrealized capital gains of $10.89 million, confirming the company’s ability to generate significant revenue outside of interest income.
  • Growing equity base: Total common equity increased to approximately $899 million in Q1 2025 from about $893 million in Q4 2024, reflecting retained earnings growth and the company's capital strength.
  • Substantial holdings of liquid assets: Cash and due from banks were consistent and substantial, around $294 million in Q1 2025, indicating strong liquidity position.
  • Reasonable expenses control: Non-interest expenses remain stable with salaries and employee benefits at $4.45 million and other operating expenses at $2.97 million in Q1 2025, showing operational cost management.
  • No interest income or interest expenses recorded in recent quarters, consistent with a focus on non-interest income generation rather than traditional lending.
  • The company repurchased shares, with approximately $1.42 million used for repurchases in Q1 2025, which could signal confidence in the stock but also reduces cash.
  • Net cash from continuing operating activities was negative $8.14 million in Q1 2025, compared with positive cash flow in previous quarters, signaling some short-term operational cash outflow.
  • Total liabilities remain relatively low compared to equity, at about $28.6 million against nearly $899 million equity in Q1 2025, indicating low leverage but also low liabilities.
  • Decrease in total assets: The total assets declined from approximately $977 million in Q3 2024 to $933 million in Q1 2025, signaling a reduction in asset base over recent quarters.
  • Significant swings in nonoperating income: The Q4 2024 quarter showed a large net nonoperating loss of approximately $38.4 million, compared to positive nonoperating income in other quarters, indicating earnings volatility from investment fluctuations.
  • Fluctuating cash flow patterns: The company experienced large negative net cash from operating activities in some quarters (e.g., Q3 2024 at -$74.5 million) followed by positive cash flows in others, indicating variability in cash management or timing impacts.
  • Declining diluted earnings per share in recent quarters from $1.09 in Q3 2024 to $0.36 in Q1 2025, highlighting reduced profitability on a per-share basis.
  • The company’s liabilities for redeemable noncontrolling interests and other long-term liabilities vary significantly quarter to quarter, adding some financial uncertainty.

Overall, Associated Capital Group shows a profitable business with strong equity and substantial non-interest income, primarily from investment gains. Investors should be mindful of cash flow inconsistencies and income volatility related to market-sensitive investment returns. The company maintains a conservative leverage profile and healthy liquidity, which supports its operational stability.

10/23/25 01:06 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Associated Capital Group's Financials

When does Associated Capital Group's financial year end?

According to the most recent income statement we have on file, Associated Capital Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Associated Capital Group's net income changed over the last 10 years?

Associated Capital Group's net income appears to be on an upward trend, with a most recent value of $44.43 million in 2024, falling from -$1.16 million in 2014. The previous period was $37.73 million in 2023.

How has Associated Capital Group's revenue changed over the last 10 years?

Over the last 10 years, Associated Capital Group's total revenue changed from $31.95 million in 2014 to $55.94 million in 2024, a change of 75.1%.

How much debt does Associated Capital Group have?

Associated Capital Group's total liabilities were at $36.99 million at the end of 2024, a 20.4% increase from 2023, and a 64.2% decrease since 2014.

How much cash does Associated Capital Group have?

In the past 10 years, Associated Capital Group's cash and equivalents has ranged from $39.51 million in 2020 to $409.56 million in 2018, and is currently $299.55 million as of their latest financial filing in 2024.

How has Associated Capital Group's book value per share changed over the last 10 years?

Over the last 10 years, Associated Capital Group's book value per share changed from 23.01 in 2014 to 42.03 in 2024, a change of 82.7%.


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This page (NYSE:AC) was last updated on 10/23/2025 by MarketBeat.com Staff
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