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Cohen & Company
(NYSE MKT:COHN)
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Rating:73Outperform
Price Target:
$10.50
▼(-5.83% Downside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by improved fundamentals (profitability rebound and a meaningfully healthier balance sheet) and very strong valuation signals (very low P/E and high dividend yield). Technicals are supportive with positive momentum. The largest risk tempering the score is weak recent cash generation (negative TTM operating/free cash flow) and the business’s lumpy, SPAC/deal-driven earnings profile highlighted on the earnings call.
Positive Factors
Profitability Rebound
The return to strong revenue growth and positive operating and net margins shows meaningful earnings recovery after prior losses. If these margins hold, improved profitability can support reinvestment, strengthen resilience, and provide a firmer base for performance over the next several quarters.
Negative Factors
Negative Cash Conversion
Negative operating and free cash flow indicate that reported profitability is not currently converting reliably into cash. That weakens internal funding capacity, increases reliance on financing or working-capital improvement, and limits flexibility if market conditions or transaction activity deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability Rebound
The return to strong revenue growth and positive operating and net margins shows meaningful earnings recovery after prior losses. If these margins hold, improved profitability can support reinvestment, strengthen resilience, and provide a firmer base for performance over the next several quarters.
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
$30.42M
Dividend Yield39.28%
Average Volume (3M)9.53K
Price to Earnings (P/E)1.0
Beta (1Y)0.75
Revenue Growth111.47%
EPS Growth762.68%
CountryUS
Employees129
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)9.69
Shares Outstanding3,228,970
10 Day Avg. Volume8,124
30 Day Avg. Volume9,527
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 Cap19.09
Enterprise Value/Revenue1.85
Enterprise Value/Gross Profit3.86
Enterprise Value/Ebitda11.44
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.9
Revenue Forecast (FY)$180.10M
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 makes money primarily through a mix of (1) investment banking and advisory fees, (2) trading and principal transaction revenues, and (3) investment income and other revenues tied to its managed/principal investment activities.
1) ...
Cohen & Company Earnings Call Summary
Earnings Call Date:Aug 03, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call communicated meaningful quarter-over-quarter and year-over-year earnings and adjusted pretax income improvements, strong investment banking revenue driven by SPAC activity (including a $230M IPO and a signed de-SPAC agreement), and growth in trading revenue and equity. Offsetting items included declines in asset management revenue, a $3.0M loss from equity-method affiliates driven by SPAC-related forfeitures (net $0.9M), increased compensation expense, and some balance sheet indebtedness and SPAC-related uncertainties. On balance the positive operational and financial momentum (notably large increases in net income, EPS, adjusted pretax income and investment banking revenue) outweigh the limited but notable challenges.Positive Updates
Strong Net Income and EPS Growth
Net income attributable to shareholders was $3.6M for Q2 2026, up from $1.5M in the prior quarter (+140.0%) and $1.4M year-ago (+157.1%). Fully diluted EPS was $0.94, up from $0.42 in the prior quarter (+123.8%) and $0.81 year-ago (+16.0%).
Negative Updates
Asset Management Revenue Decline
Asset management revenue was $1.8M, down $0.6M from the prior quarter (-25.0%) and down $0.3M year-over-year (-14.3%), indicating weakness in that segment versus other areas of the business.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Net Income and EPS Growth
Net income attributable to shareholders was $3.6M for Q2 2026, up from $1.5M in the prior quarter (+140.0%) and $1.4M year-ago (+157.1%). Fully diluted EPS was $0.94, up from $0.42 in the prior quarter (+123.8%) and $0.81 year-ago (+16.0%).
Read all positive updates
Company Guidance
Management provided cautious, constructive guidance stressing confidence in future earnings potential and a focus on increasing revenue and profitability while continuing quarterly dividends ($0.25 per share declared, payable Sept 2 to record holders Aug 19; Board to evaluate each quarter based on results and capital needs), and they expect the Columbus Circle Capital II de-SPAC with Elroy Air to close in Q4 2026. To frame that outlook they cited Q2 metrics: net income attributable to shareholders $3.6M ($0.94 fully diluted EPS), adjusted pretax income $10.1M, investment banking/new-issue revenue $54.0M, net trading revenue $13.9M, asset management revenue $1.8M, principal transactions and other revenue negative $0.3M, gestation repo book $4.1B, compensation and benefits $48.2M, net interest expense $1.3M, loss from equity-method affiliates $3.0M (net $0.9M after a $2.1M offset), total equity $109.3M, consolidated indebtedness $28.8M, outstanding common shares 3.2M plus 42.2M convertible units (7.4M fully diluted), and recent SPAC activity including Columbus Circle Capital III $230M IPO (July 10) and founder-share allocations of ~667k (CC II) and ~2.28M (CC III).Cohen & Company Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 314.34M | 278.30M | 79.60M | 82.98M | 44.39M | 146.37M |
| Gross Profit | 150.27M | 260.92M | 23.21M | 30.89M | -5.90M | 61.32M |
| EBITDA | 50.73M | 46.10M | 2.60M | 23.03M | -48.34M | 78.10M |
| Net Income | 17.76M | 14.43M | -129.00K | -5.11M | -13.39M | 11.81M |
Balance Sheet | ||||||
| Total Assets | 800.38M | 700.59M | 971.15M | 772.76M | 887.05M | 3.66B |
| Cash, Cash Equivalents and Short-Term Investments | 213.16M | 192.69M | 163.09M | 181.40M | 236.26M | 273.16M |
| Total Debt | 45.05M | 49.86M | 118.13M | 149.02M | 624.01M | 3.39B |
| Total Liabilities | 691.08M | 597.50M | 880.87M | 680.96M | 793.03M | 3.50B |
| Stockholders Equity | 63.26M | 51.08M | 41.73M | 41.68M | 46.74M | 61.94M |
Cash Flow | ||||||
| Free Cash Flow | -8.12M | 26.10M | 8.23M | -40.03M | -24.06M | 17.29M |
| Operating Cash Flow | -6.91M | 27.35M | 9.47M | -39.66M | -23.49M | 18.32M |
| Investing Cash Flow | 44.01M | 26.21M | 16.51M | 38.12M | 13.80M | -22.53M |
| Financing Cash Flow | -23.03M | -17.30M | -16.72M | -17.11M | -11.50M | 13.16M |
Cohen & Company Technical Analysis
Negative
11.15
Price Trends
10.40
Negative
11.43
Negative
13.48
Negative
Market Momentum
-0.33
Positive
38.52
Neutral
20.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COHN, the sentiment is Negative. The current price of 11.15 is above the 20-day moving average (MA) of 9.98, above the 50-day MA of 10.40, and below the 200-day MA of 13.48, indicating a bearish trend. The MACD of -0.33 indicates Positive momentum. The RSI at 38.52 is Neutral, neither overbought nor oversold. The STOCH value of 20.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $178.78M | 20.27 | 6.29% | 3.18% | 7.70% | 110.71% | |
73 Outperform | $30.42M | 0.97 | 33.24% | 39.28% | 111.47% | 762.68% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
61 Neutral | $78.96M | -68.50 | -1.26% | 16.00% | 21.62% | -111.45% | |
53 Neutral | $44.68M | -3.12 | -22.57% | ― | -1.50% | -508.82% | |
46 Neutral | $43.88M | -0.52 | -82.76% | 28.99% | 134.05% | -45.58% |
* Financial Sector Average
COHN
Cohen & Company
10.10
2.01
24.88%
SIEB
Siebert Financial
1.83
-1.05
-36.46%
DOMH
Dominari Holdings
1.75
-2.43
-58.08%
WHG
Westwood Holdings Group
18.94
3.23
20.58%
HGBL
Heritage Global
1.26
-0.21
-14.29%
TOP
Zhong Yang Financial Group Ltd.
14.32
8.37
140.67%
Cohen & Company Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Cohen & Company Amends Senior Note, Extends Maturity
Neutral
Aug 31, 2026
On September 23, 2024, effective September 1, 2024, Cohen Company, LLC issued a senior promissory note to JKD Capital Partners I LTD, an entity owned by board member Jack J. DiMaio Jr. and his spouse, for $5,145,926.67, with half repaid by August...
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.