Westwood Holdings Group, Inc. (WHG) 10-Year Financial Performance & Capital Metrics

WHG • • Banking & Credit

Financial ServicesCapital MarketsSecurities Brokerage & Wealth ManagementInstitutional Brokerage & Wealth Management

AboutWestwood Holdings Group, Inc., through its subsidiaries, manages investment assets and provides services for its clients. The company operates in two segments, Advisory and Trust. The Advisory segment provides investment advisory services to corporate retirement plans, public retirement plans, endowments, foundations, individuals, and the Westwood Funds; and investment sub-advisory services to mutual funds, pooled investment vehicles, and its Trust segment. The Trust segment offers trust and custodial services; and participates in common trust funds that it sponsors to institutions and high net worth individuals. Westwood Holdings Group, Inc. was founded in 1983 and is based in Dallas, Texas.Show more

Net Interest Income $2M +83.3%
Total Revenue $95M +5.5%
Net Income $2M -79.1%
Return on Equity 1.81% -80.1%
Net Interest Margin 1.46% +89.6%
Efficiency Ratio 39.99% +16.4%
ROA 1.45% -79.3%
Equity / Assets 81.56% +3.4%
Book Value per Share 14.37 -4.8%
Tangible BV/Share 7.18 +0.2%
Debt/Equity 0.03 -64.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Efficient operations: 40.0% efficiency ratio
✓Well capitalized: 81.6% equity/assets
✓Healthy dividend yield of 3.5%
✓Diversified revenue: 97.7% from non-interest income
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 2.3%
✗Profits declining 17.9% over 5 years
✗Weak NIM of 1.5%
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-1.77%

5Y2.41%

3Y9.04%

TTM-

Profit (Net Income) CAGR

10Y-22.21%

5Y-17.85%

3Y-39.05%

TTM159.46%

EPS CAGR

10Y-22.78%

5Y-17.97%

3Y-40.43%

TTM155.71%

ROCE

10Y Avg10.74%

5Y Avg0.72%

3Y Avg0.46%

Latest0.64%

Peer Comparison

Institutional Brokerage & Wealth Management

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FRHCFreedom Holding Corp.	7.71B	126.09	90.06	22.74%	4.16%	0.39%	20.56%	1.61
WHGWestwood Holdings Group, Inc.	173.67M	18.46	71	5.5%	2.33%	5.76%	12.1%	0.03
LPLALPL Financial Holdings Inc.	30.16B	376.83	26.86	23.2%	8.55%	22.03%		1.96
SFStifel Financial Corp.	13.26B	130.20	20.83	15.45%	12.42%	11.53%	3.14%	0.49
RJFRaymond James Financial, Inc.	33.88B	171.55	16.66	7.94%	13.42%	17.07%	6.63%	0.35
OPYOppenheimer Holdings Inc.	823.46M	79.02	12.41	14.71%	5%	9.21%		0.81
GSIWGarden Stage Limited Ordinary Shares	29.89M	0.14	-0.49	295.95%	-79.91%	14.93%		0.03
DOMHDominari Holdings Inc.	66.61M	4.16	-1.75	7.9%	-81.03%	52.5%		0.08

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	0	0	0	0	0	0	868K	0	1.19M	2.18M
NII Growth %	-	-	-	-	-	-	-	-1%	-	0.83%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	0	0	0	0	0	0	868K	0	1.19M	2.18M
Interest Expense	0	0	0	0	0	0	0	0	0	0
Loan Loss Provision	63.56M	61.51M	64.95M	59.96M	50.15M	42.14M	42.53M	40.12M	52.92M	56.01M
Non-Interest Income+	130.94M	123.02M	133.78M	122.3M	84.08M	65.11M	72.19M	68.68M	88.59M	92.54M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	130.94M	123.02M	133.78M	122.3M	84.08M	65.11M	73.05M	68.68M	89.78M	94.72M
Revenue Growth %	0.16%	-0.06%	0.09%	-0.09%	-0.31%	-0.23%	0.12%	-0.06%	0.31%	0.06%
Non-Interest Expense	25.15M	27.5M	34.94M	26.4M	29.28M	26.42M	24.56M	33.43M	30.86M	37.88M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	42.22M	34.01M	33.89M	35.94M	4.64M	-3.45M	5.96M	-4.87M	6M	830K
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0%	-0.19%	-0%	0.06%	-0.87%	-1.74%	2.73%	-1.82%	2.23%	-0.86%
Pretax Income+	42.22M	34.01M	33.89M	36.46M	9.4M	-7.59M	14M	-5.2M	13.44M	4.01M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	15.12M	11.36M	13.9M	9.71M	3.49M	1.36M	4.24M	-567K	2.87M	1.8M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	27.11M	22.65M	19.99M	26.75M	5.91M	-8.95M	9.76M	-4.63M	10.57M	2.21M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.01%	-0.16%	-0.12%	0.34%	-0.78%	-2.51%	2.09%	-1.47%	3.28%	-0.79%
Net Income (Continuing)	27.11M	22.65M	19.99M	26.75M	5.91M	-8.95M	9.76M	-4.63M	10.57M	2.21M
EPS (Diluted)+	3.33	2.77	2.38	3.13	0.70	-1.12	1.23	-0.59	1.17	0.26
EPS Growth %	-0.03%	-0.17%	-0.14%	0.32%	-0.78%	-2.6%	2.1%	-1.48%	2.98%	-0.78%
EPS (Basic)	3.49	2.84	2.45	3.20	0.70	-1.12	1.24	-0.59	1.20	0.27
Diluted Shares Outstanding	8.15M	8.17M	8.4M	8.55M	8.46M	7.99M	7.93M	7.84M	8.11M	8.52M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	22.74M	33.68M	54.25M	52.45M	49.77M	13.02M	15.21M	23.86M	20.42M	18.85M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	61.28M	56.48M	51.32M	71.21M	62.72M	81.22M	73.99M	29.4M	44.45M	42.69M
Investments Growth %	-0.23%	-0.08%	-0.09%	0.39%	-0.12%	0.3%	-0.09%	-0.6%	0.51%	-0.04%
Long-Term Investments	-11.04M	0	0	5.42M	12.39M	11.68M	8.97M	14.06M	11.77M	15M
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	27.14M	27.14M	27.14M	19.8M	19.8M	16.4M	16.4M	35.73M	39.5M	39.5M
Intangible Assets	23.35M	21.39M	19.8M	15.96M	15.26M	13.54M	11.91M	28.95M	24.8M	21.67M
PP&E (Net)	2.19M	4.28M	4.19M	13.15M	11.71M	9.29M	6.98M	6.8M	5.12M	3.51M
Other Assets	11.04M	0	0	0	364K	464K	634K	929K	5.31M	6.78M
Total Current Assets	117.6M	115.96M	138.11M	139.74M	116.96M	96.31M	93.86M	58.19M	67.94M	61.29M
Total Non-Current Assets	63.73M	63.72M	54.55M	59.44M	61.75M	52.84M	45.74M	88.23M	87.23M	88.7M
Total Assets+	181.34M	179.68M	192.66M	199.18M	178.71M	149.15M	139.6M	146.43M	155.17M	149.99M
Asset Growth %	0.3%	-0.01%	0.07%	0.03%	-0.1%	-0.17%	-0.06%	0.05%	0.06%	-0.03%
Return on Assets (ROA)	0.17%	0.13%	0.11%	0.14%	0.03%	-0.05%	0.07%	-0.03%	0.07%	0.01%
Accounts Payable	3.55M	2.64M	3.5M	2.52M	2.15M	1.63M	2.64M	5.68M	6.13M	6.41M
Total Debt+	0	0	0	10.76M	9.35M	7.84M	6.13M	6.07M	9.1M	3.2M
Net Debt	-22.74M	-33.68M	-54.25M	-41.69M	-40.42M	-5.18M	-9.07M	-17.79M	-11.32M	-15.65M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Short-Term Debt	0	0	0	0	0	0	0	0	1.29M	0
Other Liabilities	2.52M	3.94M	4.73M	1.58M	1.3M	526K	1.13M	13.6M	6.87M	4.66M
Total Current Liabilities	44.85M	29.67M	31.53M	27.13M	21.36M	11.79M	15.84M	17.61M	22.59M	23M
Total Non-Current Liabilities	2.52M	3.94M	4.73M	10.91M	9.06M	6.65M	5.86M	18.16M	10.13M	4.66M
Total Liabilities	47.37M	33.61M	36.26M	38.03M	30.42M	18.44M	21.7M	35.78M	32.72M	27.66M
Total Equity+	133.97M	146.07M	156.4M	161.15M	148.29M	130.71M	117.91M	110.65M	122.45M	122.33M
Equity Growth %	0.22%	0.09%	0.07%	0.03%	-0.08%	-0.12%	-0.1%	-0.06%	0.11%	-0%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.22%	0.16%	0.13%	0.17%	0.04%	-0.06%	0.08%	-0.04%	0.09%	0.02%
Book Value per Share	16.44	17.89	18.62	18.85	17.52	16.36	14.87	14.11	15.09	14.37
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	94K	98K	100K	102K	103K	105K	107K	115K	119K	122K
Additional Paid-in Capital	143.8M	162.73M	179.24M	194.12M	203.44M	210.27M	195.19M	199.91M	201.62M	202.24M
Retained Earnings	29.67M	31.88M	28.61M	30.52M	10.97M	-1.7M	4.36M	-4.25M	4.65M	6.21M
Accumulated OCI	-4.69M	-4.29M	-1.76M	-4.88M	-2.94M	0	0	0	0	0
Treasury Stock	-34.91M	-44.35M	-49.79M	-58.71M	-63.28M	-77.97M	-81.75M	-85.13M	-85.99M	-88.28M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	55.21M	47.39M	48.01M	31.48M	32.17M	-9.77M	19.39M	51.87M	-1.19M	21.12M
Operating CF Growth %	1.08%	-0.14%	0.01%	-0.34%	0.02%	-1.3%	2.98%	1.68%	-1.02%	18.82%
Net Income	27.11M	22.65M	19.99M	26.75M	5.91M	-8.95M	9.76M	-4.63M	10.57M	2.21M
Depreciation & Amortization	2.6M	2.93M	2.92M	2.54M	2.62M	2.64M	2.37M	2.58M	4.82M	4.75M
Deferred Taxes	-3.29M	149K	7.54M	-1.75M	2.91M	754K	620K	-931K	1.04M	-1.52M
Other Non-Cash Items	5.78M	15.94M	5.16M	-14.98M	13.31M	-9.39M	-926K	52.22M	-24.16M	11.25M
Working Capital Changes	5.43M	-10.23M	-4.03M	3.64M	-2.89M	-1.53M	1.72M	-3.37M	34K	-1.11M
Cash from Investing+	-25.08M	-1.81M	-1.17M	3.6M	-4.85M	-4K	9.57M	-34.12M	4.11M	-4.61M
Purchase of Investments	0	0	0	-5.42M	-3.67M	-19.56M	-15K	48.98M	0	-3.5M
Sale/Maturity of Investments	1000K	1000K	1000K	0	1000K	-89K	1000K	1000K	0	0
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-24.13M	9K	0	10.01M	0	89K	0	-33.8M	-741K	0
Other Investing	0	9K	0	4.59M	-15.81M	19.65M	501K	-97.95M	5M	-1M
Cash from Financing+	-22.14M	-34.94M	-28.58M	-34.12M	-31.87M	-25.81M	-26.81M	-9.1M	-6.36M	-18.08M
Dividends Paid	-16.62M	-19.44M	-21.92M	-24.62M	-26.09M	-11.04M	-22.93M	-5.63M	-5.5M	-5.44M
Share Repurchases	-5.65M	-9.49M	-5.33M	-8.77M	-4.8M	-14.07M	-2.99M	-3.48M	0	-1.35M
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	0	0	0	0	0	0	0	0	0
Other Financing	128K	-6.01M	-1.33M	-726K	-980K	-1.12M	-884K	-627K	-862K	-11.3M
Net Change in Cash+	4.61M	10.94M	20.57M	-1.8M	-2.68M	-36.75M	2.19M	8.65M	-3.44M	-1.57M
Exchange Rate Effect	-1000K	301K	1000K	-1000K	1000K	-1000K	45K	5K	0	0
Cash at Beginning	18.13M	22.74M	33.68M	54.25M	52.45M	49.77M	13.02M	15.21M	23.86M	20.42M
Cash at End	22.74M	33.68M	54.25M	52.45M	49.77M	13.02M	15.21M	23.86M	20.42M	18.85M
Interest Paid	0	0	0	0	0	0	0	0	0	0
Income Taxes Paid	11.64M	14.86M	10.77M	9.77M	1.43M	1.27M	1.86M	1.86M	1.59M	3.43M
Free Cash Flow+	54.26M	45.57M	46.84M	30.49M	31M	-9.86M	19.21M	51.55M	-1.33M	21.01M
FCF Growth %	1.08%	-0.16%	0.03%	-0.35%	0.02%	-1.32%	2.95%	1.68%	-1.03%	16.78%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	22.22%	16.17%	13.22%	16.85%	3.82%	-6.41%	7.85%	-4.05%	9.07%	1.81%
Return on Assets (ROA)	16.88%	12.55%	10.74%	13.65%	3.13%	-5.46%	6.76%	-3.24%	7.01%	1.45%
Net Interest Margin	0%	0%	0%	0%	0%	0%	0.62%	0%	0.77%	1.46%
Efficiency Ratio	19.21%	22.36%	26.11%	21.59%	34.83%	40.57%	33.62%	48.67%	34.37%	39.99%
Equity / Assets	73.88%	81.29%	81.18%	80.9%	82.98%	87.64%	84.46%	75.57%	78.91%	81.56%
Book Value / Share	16.44	17.89	18.62	18.85	17.52	16.36	14.87	14.11	15.09	14.37
NII Growth	-	-	-	-	-	-	-	-100%	-	83.29%
Dividend Payout	61.31%	85.85%	109.68%	92.04%	441.36%	-	234.89%	-	52.05%	246.04%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Asset Management	-	-	-	89.37M	57.03M	38.03M	45.93M	46.69M	67.39M	69.75M
Asset Management Growth	-	-	-	-	-36.18%	-33.32%	20.77%	1.65%	44.35%	3.51%
Fiduciary and Trust	-	-	-	28.95M	25.48M	23.56M	24.03M	21.69M	20.24M	21.42M
Fiduciary and Trust Growth	-	-	-	-	-11.98%	-7.53%	1.98%	-9.75%	-6.66%	5.83%
Investment Performance	-	-	-	2.98M	764K	2.81M	3.33M	1.02M	1.26M	1.39M
Investment Performance Growth	-	-	-	-	-74.40%	267.54%	18.77%	-69.48%	24.26%	10.12%
Trust performance-based fees	-	-	-	-	-	366K	101K	-	349K	482K
Trust performance-based fees Growth	-	-	-	-	-	-	-72.40%	-	-	38.11%
Advisory	139.72M	108.31M	119.22M	-	-	-	-	-	-	-
Advisory Growth	-	-22.48%	10.07%	-	-	-	-	-	-	-
Trust	28.96M	30.07M	32.16M	-	-	-	-	-	-	-
Trust Growth	-	3.81%	6.95%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	109.82M	103.26M	111.1M	2.98M	-	1.6M	1.69M	1.02M	88.68M	93.7M
UNITED STATES Growth	-	-5.97%	7.59%	-97.31%	-	-	5.17%	-39.66%	8610.81%	5.67%
CANADA	9.24M	7.71M	9.17M	-	-	-	1.16M	1.17M	1.1M	1.02M
CANADA Growth	-	-16.50%	18.86%	-	-	-	-	0.69%	-5.64%	-7.96%
Europe	6.02M	5.42M	3.87M	-	764K	1.57M	262K	-	-	-
Europe Growth	-	-10.02%	-28.49%	-	-	105.50%	-83.31%	-	-	-
Asia	4.54M	4.87M	6.31M	-	-	-	-	-	-	-
Asia Growth	-	7.36%	29.56%	-	-	-	-	-	-	-
AUSTRALIA	1.32M	1.76M	3.33M	-	-	-	-	-	-	-
AUSTRALIA Growth	-	32.68%	89.65%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Westwood Holdings Group, Inc. (WHG) has a price-to-earnings (P/E) ratio of 71.0x. This suggests investors expect higher future growth.

Growth & Financials

Westwood Holdings Group, Inc. (WHG) grew revenue by 5.5% over the past year. This is steady growth.

Yes, Westwood Holdings Group, Inc. (WHG) is profitable, generating $7.3M in net income for fiscal year 2024 (2.3% net margin).

Dividend & Returns

Yes, Westwood Holdings Group, Inc. (WHG) pays a dividend with a yield of 3.46%. This makes it attractive for income-focused investors.

Westwood Holdings Group, Inc. (WHG) has a return on equity (ROE) of 1.8%. This is below average, suggesting room for improvement.

Industry Metrics

Westwood Holdings Group, Inc. (WHG) has a net interest margin (NIM) of 1.5%. NIM has been under pressure due to interest rate environment.

Westwood Holdings Group, Inc. (WHG) has an efficiency ratio of 40.0%. This is excellent, indicating strong cost control.

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