Fundamentals Hub
▼ FY 2025 Summary Analysis
Annual report ending Dec 31, 2025Overview and Growth
Fiscal 2025 results for Cohen & Co Inc. combined $275.56M of revenue with net income of $14.43M and an operating cash inflow of $27.35M. The $275.56M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The top line expanded 246.2% from $79.60M in fiscal 2024, increasing the company’s operating scale. The company reported diluted EPS of $4.35, adding a shareholder-level measure to the absolute income figures considered below. Total assets stood at $700.59M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Revenue equaled 0.39x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.Profitability
The reported operating result was $59.41M, capturing profitability after direct costs and the operating expenses reflected in the statements. Relative to revenue, operating income represented 21.6%, showing how efficiently sales converted into operating profit. Net income came to $14.43M, completing the progression from revenue through gross and operating profitability to the final reported result. The final earnings result represented 5.2% of revenue, connecting the absolute net income figure with the company’s top-line scale. The earnings statement records $39.50M of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 14.3% of revenue, placing earnings before tax in the context of the company’s operating scale. An income-tax benefit of $632.00K improved the final result relative to pretax income or loss. The tax benefit equaled 1.6% of positive pretax income, lifting the after-tax result. Net income equaled 14.0% of period-end equity, showing the earnings generated on shareholders’ book capital. Net income represented 2.1% of period-end assets, placing the company’s bottom-line result against the total resource base employed. The company moved from a $129.00K net loss in fiscal 2024 to net income of $14.43M.Liquidity and Capital Structure
At period end, the $700.59M asset base was financed through $597.50M of liabilities and $103.09M of equity. Reported cash and equivalents were $56.76M, separating immediately recognizable cash resources from the rest of the current-asset base. Total debt was $32.90M, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 0.32x, showing how much debt the company carried for each unit of book equity. The debt-to-assets relationship was 4.7%, comparing borrowing with the total asset balance. Relative to total assets, liabilities measured 85.3%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 8.1%, comparing reported cash and equivalents with the full positive asset balance. Compared with $971.15M in fiscal 2024, the current asset base moved 27.9% and finished lower. Reported equity changed 14.2% from $90.28M in fiscal 2024, placing the current capital base higher year over year. Compared with $19.59M in fiscal 2024, the current cash balance moved 189.7% and finished higher.Cash Flow and Earnings Quality
The company reported $27.35M of operating cash flow, a cash inflow that shows the cash generated by operations. Operating cash flow equaled 1.9x of net income, showing how strongly accounting earnings converted into cash from operations. Capital expenditures used $1.25M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 4.6%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $26.10M of positive free cash flow for the period. Free cash flow represented 9.5% of revenue, linking post-investment cash generation with the company’s operating scale. The free-cash-flow-to-assets relationship was 3.7%, comparing post-investment cash with the balance-sheet asset base.
Based on the annual report for the fiscal year ending Dec 31, 2025.
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