Tearsheet

Associated Capital (AC)

Market Price (9/5/2025): $31.15 | Market Cap: $658.4 Mil
Sector: Financials | Industry: Asset Management & Custody Banks

Associated Capital (AC)

Market Price (9/5/2025): $31.15
Market Cap: $658.4 Mil
Sector: Financials
Industry: Asset Management & Custody Banks

Market Valuation

	9/5/25	2024	2023	2022	2021
Share Price CYE	$31.15	$34.17	$33.77	$39.48	$40.21
Market Cap CYE ($ Mil)	658.4	725.1	728.6	868.4	886.9
Total Debt ($ Mil)	0.0	0.0	0.0	0.0	0.0
Total Cash ($ Mil)	249.4	299.6	317.5	218.5	319.0
Enterprise Value ($ Mil)	409.0	725.1	728.6	868.4	886.9
Valuation Ratios
P/S TTM	55.3	55.5	61.3	60.7	45.5
P/EBIT TTM	9.8	13.8	16.4	-15.3	11.7
P/E TTM	12.2	16.5	20.8	-18.9	16.1
Sector Ratios
P/S TTM (Sector)	3.2	3.1	2.8	2.8	3.4
P/EBIT TTM (Sector)	7.2	6.9	7.1	7.1	7.0
P/E TTM (Sector)	12.9	11.6	10.2	9.3	10.0

	9/5/25	2024	2023
Share Price CYE	$31.15	$34.17	$33.77
Market Cap CYE ($ Mil)	658.4	725.1	728.6
Total Debt ($ Mil)	0.0	0.0	0.0
Total Cash ($ Mil)	249.4	299.6	317.5
Enterprise Value ($ Mil)	409.0	725.1	728.6
Valuation Ratios
P/S TTM	55.3	55.5	61.3
P/EBIT TTM	9.8	13.8	16.4
P/E TTM	12.2	16.5	20.8
Sector Ratios
P/S TTM (Sector)	3.2	3.1	2.8
P/EBIT TTM (Sector)	7.2	6.9	7.1
P/E TTM (Sector)	12.9	11.6	10.2

Stock Price
Market Cap

Stock Price Chart

Return (1Y):

Market Cap Chart

Business Description

Associated Capital Group, Inc. provides investment advisory services in the United States. The company offers alternative investment management and asset management services. Show more

Price Returns Compared

Expand for Detailed View

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
AC Return	-10%	23%	-2%	-14%	1%	-10%	5%
Peers Return	40%	63%	-28%	52%	44%	-4%	243%
S&P 500 Return	16%	27%	-19%	24%	23%	11%	100%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: VRTS, BLK, BX, KKR, APO.
[3] 2025 data is for the year up to 9/5/2025 (YTD)

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Associated Capital Total Shareholder Return (TSR): 1.2% in 2024 and -5.3% 3-yr compounded annual returns (below peer average)
2	Associated Capital (AC) Operating Cash Flow Comparison	Financials
3	Associated Capital (AC) Net Income Comparison	Financials
4	Associated Capital (AC) Operating Income Comparison	Financials
5	Associated Capital (AC) Revenue Comparison	Financials

	Title
0	ARTICLES
1	Associated Capital Total Shareholder Return (TSR): 1.2% in 2024 and -5.3% 3-yr compounded annual returns (below peer average)
2	Associated Capital (AC) Operating Cash Flow Comparison
3	Associated Capital (AC) Net Income Comparison
4	Associated Capital (AC) Operating Income Comparison
5	Associated Capital (AC) Revenue Comparison

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	HOUR	Hour Loop	93.1%	62.2%
2	PRSO	Peraso	68.7%	19.0%
3	NVFY	Nova Lifestyle	64.8%	554.0%
4	GELS	Gelteq	62.5%	-32.8%
5	PAPL	Pineapple Financial	58.0%	1346.9%
6	GNPX	Genprex	47.4%	-73.1%
7	VEEE	Twin Vee PowerCats	46.4%	-48.4%
8	CIGL	Concorde International	45.7%
9	PFAI	Pinnacle Food	44.4%
10	HTCR	HeartCore Enterprises	36.8%	-38.3%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	YAAS	Youxin Technology	-64.0%	-97.5%
2	IBG	Innovation Beverage	-35.0%	-66.6%
3	BRIA	BrilliA	-29.4%	-23.1%
4	INDP	Indaptus Therapeutics	-28.4%	-86.0%
5	SUPX	Super X AI Technology	-27.2%
6	MGIH	Millennium International	-25.7%	5.3%
7	CURV	Torrid	-25.2%	-66.0%
8	AIHS	Senmiao Technology	-24.4%	-77.8%
9	TRON	Tron	-22.9%
10	JEM	707 Cayman	-21.4%	-98.6%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	9185.7%	9185.7%
2	TNFA	TNF Pharmaceuticals	5257.1%	-97.1%
3	SEGG	Lottery.com	921.3%	26.0%
4	EAF	GrafTech International	882.2%	-42.7%
5	MSPR	MSP Recovery	442.6%	-84.0%
6	HWH	HWH International	255.0%	59.1%
7	IPDN	Professional Diversity Network	233.7%	28.8%
8	NVFY	Nova Lifestyle	160.4%	554.0%
9	CIGL	Concorde International	152.4%
10	ELAB	PMGC	142.2%	-91.9%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	CJET	Chijet Motor	-91.1%	-93.3%
2	JEM	707 Cayman	-85.0%	-98.6%
3	NEON	Neonode	-76.8%	-37.9%
4	YAAS	Youxin Technology	-67.8%	-97.5%
5	AEMD	Aethlon Medical	-64.6%	-89.5%
6	YYAI	Connexa Sports Technologies	-57.6%	30.6%
7	LASE	Laser Photonics	-55.4%	-64.5%
8	CWD	CaliberCos	-53.4%	-85.1%
9	ARTL	Artelo Biosciences	-50.1%	-29.1%
10	ZONE	CleanCore Solutions	-49.8%	151.2%

1 Month Top Gainers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PMI	Picard Medical	9185.7%	9185.7%
2	GIBO	GIBO	5900.0%
3	SISI	Shineco	3133.0%	-97.8%
4	HTCO	High-Trend International	2319.1%	-91.2%
5	WATT	Energous	2280.8%	-77.6%
6	ZBAI	ATIF	1627.0%	-66.1%
7	EVTV	Envirotech Vehicles	1337.9%	-79.9%
8	CURX	Curanex Pharmaceuticals	1085.2%	1085.2%
9	VERU	Veru	822.0%	-48.2%
10	INHD	Inno	672.0%	105.1%

1 Month Top Losers

#	Ticker	Company	1M Rtn	YTD Rtn
1	JEM	707 Cayman	-94.9%	-98.6%
2	STFS	Star Fashion Culture	-94.2%	-98.1%
3	BINI	Bollinger Innovations	-93.9%	-100.0%
4	ETS	Elite Express	-93.2%	-93.2%
5	NXTT	Next Technology	-92.4%	-94.0%
6	ELPW	Elong Power	-92.1%	-77.2%
7	CUPR	Cuprina	-92.0%
8	CJET	Chijet Motor	-91.4%	-93.3%
9	CRE	Cre8 Enterprise	-90.2%	-91.3%
10	FLYE	Fly-E	-90.2%	-84.5%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	HOUR	Hour Loop	93.1%	62.2%
2	PRSO	Peraso	68.7%	19.0%
3	NVFY	Nova Lifestyle	64.8%	554.0%
4	GELS	Gelteq	62.5%	-32.8%
5	PAPL	Pineapple Financial	58.0%	1346.9%
6	GNPX	Genprex	47.4%	-73.1%
7	VEEE	Twin Vee PowerCats	46.4%	-48.4%
8	CIGL	Concorde International	45.7%
9	PFAI	Pinnacle Food	44.4%
10	HTCR	HeartCore Enterprises	36.8%	-38.3%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	YAAS	Youxin Technology	-64.0%	-97.5%
2	IBG	Innovation Beverage	-35.0%	-66.6%
3	BRIA	BrilliA	-29.4%	-23.1%
4	INDP	Indaptus Therapeutics	-28.4%	-86.0%
5	SUPX	Super X AI Technology	-27.2%
6	MGIH	Millennium International	-25.7%	5.3%
7	CURV	Torrid	-25.2%	-66.0%
8	AIHS	Senmiao Technology	-24.4%	-77.8%
9	TRON	Tron	-22.9%
10	JEM	707 Cayman	-21.4%	-98.6%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	9185.7%	9185.7%
2	TNFA	TNF Pharmaceuticals	5257.1%	-97.1%
3	SEGG	Lottery.com	921.3%	26.0%
4	EAF	GrafTech International	882.2%	-42.7%
5	MSPR	MSP Recovery	442.6%	-84.0%
6	HWH	HWH International	255.0%	59.1%
7	IPDN	Professional Diversity Network	233.7%	28.8%
8	NVFY	Nova Lifestyle	160.4%	554.0%
9	CIGL	Concorde International	152.4%
10	ELAB	PMGC	142.2%	-91.9%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	CJET	Chijet Motor	-91.1%	-93.3%
2	JEM	707 Cayman	-85.0%	-98.6%
3	NEON	Neonode	-76.8%	-37.9%
4	YAAS	Youxin Technology	-67.8%	-97.5%
5	AEMD	Aethlon Medical	-64.6%	-89.5%
6	YYAI	Connexa Sports Technologies	-57.6%	30.6%
7	LASE	Laser Photonics	-55.4%	-64.5%
8	CWD	CaliberCos	-53.4%	-85.1%
9	ARTL	Artelo Biosciences	-50.1%	-29.1%
10	ZONE	CleanCore Solutions	-49.8%	151.2%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End		12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date		3/19/2025	3/21/2024	3/16/2023	3/17/2022	3/24/2021	3/16/2020
Key Financials
Total Revenue	12	13	13	15	21	19	22
Net Income	54	44	37	-49	59	19	39
EPS	2.53	2.08	1.72	-2.22	2.68	0.84	1.74
Growth Rates
Total Revenue Growth	-11.4%	3.9%	-16.7%	-27.2%	10.2%	-14.5%	-2.5%
Net Income Growth	62.3%	18.4%	176.6%	-182.6%	214.6%	-52.0%	167.5%
Margins
Net Income Margin	451.7%	336.5%	295.3%	-321.2%	282.9%	99.1%	176.5%
Cash & Debt
Total Cash	392	368	407	404	380	384	371
Total Debt	0	0	0	0	0	0	0
Net Debt / (Cash)	-392	-368	-407	-404	-380	-384	-371
Cash Flows
Net Cash from Operations	-51	27	145	-71	238	-279	-44
Free Cash from Operations	-51	27	145	-71	238	-290	-51
Returns to Shareholders
Dividends	45	47	4	4	4	7	5
Share Repurchases	8	12	16	3	8	7	4

$ Mil \| FY: 12/31	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3
Period End	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Filing Date	8/7/2025	5/9/2025	3/19/2025	11/13/2024	8/9/2024	5/15/2024	3/21/2024	11/14/2023	8/10/2023	5/12/2023	3/16/2023	11/14/2022
Key Financials Quarterly
Total Revenue	2	2	5	2	3	3	6	2	2	2	8	3
Net Income	19	8	4	23	3	14	16	-0	3	18	14	-16
EPS	0.88	0.36	0.20	1.09	0.14	0.64	0.76	-0.00	0.15	0.81	0.62	-0.75
Key Financials TTM
Total Revenue TTM	12	12	13	14	13	13	13	15	15	15	15	22
Net Income TTM	54	38	44	56	33	34	37	35	18	-15	-49	-53
Growth Rates Quarterly
Total Revenue Growth	-15.0%	-29.3%	-8.6%	9.8%	8.9%	22.2%	-25.2%	-14.1%	-6.4%	-4.5%	-46.1%	21.3%
Net Income Growth	522.6%	-44.5%	-73.8%	145362.5%	-11.5%	-22.2%	19.6%	99.9%	111.3%	209.7%	44.9%	-1197.7%
Margins Quarterly
Net Income Margin	842.0%	360.2%	83.0%	962.4%	115.0%	459.0%	290.0%	-0.7%	141.5%	720.2%	181.3%	-644.0%
Cash & Debt
Total Cash	392	358	368	377	387	395	407	384	382	402	404	422
Total Debt	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt / (Cash)	-392	-358	-368	-377	-387	-395	-407	-384	-382	-402	-404	-422
Cash Flows Quarterly
FCF from Operations	-41	-8	73	-74	30	-1	-50	15	-4	184	-40	-60
Cash Flows TTM
FCF from Operations TTM	-51	20	27	-96	-6	-40	145	155	80	84	-71	-280
Returns to Shareholders Quarterly
Dividends	0	0	45	0	0	0	2	0	0	0	2	0
Share Repurchases	1	1	2	3	2	4	3	4	8	2	1	0
Return on Invested Capital (ROIC) Quarterly
ROIC	-8.0%	-4.7%	-3.9%	-6.6%	-3.7%	-5.0%	-4.6%	-1.6%	-2.6%	-5.5%	-2.5%	-2.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-6.3%	-4.8%	-4.8%	-4.9%	-4.1%	-4.0%	-4.4%	-3.7%	-3.8%	-2.4%	-2.4%	-2.5%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Investment advisory and alternative asset management business	13
Investment advisory and incentive fees		15	21	18	22
Other		0	0	1	0
Total	13	15	21	19	22

Price Behavior

Behavior Stats
Betas Matrix

Price Behavior

Market Price	$30.92
Market Cap ($ Bil)	0.7
First Trading Date	12/01/2015
Distance from 52W High	-24.4%
	50 Days	200 Days
DMA Price	$36.19	$36.18
DMA Trend	indeterminate	down
Distance from DMA	-14.6%	-14.5%
	3M	1YR
Volatility	23.3%	29.1%
Downside Capture	144.95	81.00
Upside Capture	-24.53	66.26
Correlation (SPY)	-8.9%	36.6%
	5D	10D
Expected Return	2.2%	5.8%
Expected Excess Return	1.9%	3.6%
Chance of Rise	62.1%	81.8%
Std Dev of Returns	1.2%	1.9%

AC Betas & Captures as of 8/31/2025

	1M	2M	3M	6M	1Y	3Y
Beta	-0.02	0.15	0.07	0.51	0.56	0.50
Up Beta	-1.03	-0.78	-0.82	0.37	0.40	0.55
Down Beta	-1.77	-1.24	-0.72	0.57	0.48	0.37
Up Capture	-2%	27%	14%	39%	64%	15%
Bmk +ve Days	10	22	35	71	142	415
Stock +ve Days	9	19	29	62	126	377
Down Capture	215%	222%	142%	81%	87%	84%
Bmk -ve Days	11	19	27	54	106	334
Stock -ve Days	12	22	33	63	121	361

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
7/8/2025	0.4%	0.0%	-1.5%
4/7/2025	0.1%	6.6%	7.4%
1/15/2025	0.1%	2.0%	11.3%
10/7/2024	1.8%	3.4%	4.7%
7/9/2024	-0.1%	7.2%	10.4%
4/5/2024	-0.0%	-0.5%	-0.4%
1/11/2024	0.8%	0.6%	-2.3%
10/12/2023	-0.9%	-1.9%	-2.8%
...
SUMMARY STATS
# Positive	16	16	12
# Negative	8	8	12
Median Positive	1.6%	2.5%	7.5%
Median Negative	-0.9%	-2.1%	-3.5%
Max Positive	7.3%	8.6%	13.3%
Max Negative	-4.7%	-7.6%	-24.6%

	Forward Returns
7/8/2025	0.4%	0.0%	-1.5%
4/7/2025	0.1%	6.6%	7.4%
1/15/2025	0.1%	2.0%	11.3%
10/7/2024	1.8%	3.4%	4.7%
7/9/2024	-0.1%	7.2%	10.4%
4/5/2024	-0.0%	-0.5%	-0.4%
1/11/2024	0.8%	0.6%	-2.3%
10/12/2023	-0.9%	-1.9%	-2.8%
7/11/2023	1.9%	2.1%	2.8%
4/11/2023	0.5%	8.6%	7.5%
1/18/2023	1.8%	0.9%	0.1%
10/18/2022	-0.4%	1.3%	-3.4%
7/21/2022	-0.8%	5.8%	3.2%
4/20/2022	0.2%	2.9%	-6.0%
1/31/2022	-4.7%	-7.6%	-10.2%
10/22/2021	1.8%	0.0%	13.3%
7/27/2021	1.9%	1.6%	-3.0%
5/6/2021	2.0%	-0.2%	10.3%
2/11/2021	1.5%	2.9%	3.4%
10/27/2020	-3.8%	-2.3%	10.4%
8/6/2020	2.3%	-3.4%	-4.0%
2/27/2020	7.3%	5.3%	-24.6%
11/12/2019	-1.8%	-6.5%	-6.1%
8/8/2019	1.3%	-1.6%	-3.6%
SUMMARY STATS
# Positive	16	16	12
# Negative	8	8	12
Median Positive	1.6%	2.5%	7.5%
Median Negative	-0.9%	-2.1%	-3.5%
Max Positive	7.3%	8.6%	13.3%
Max Negative	-4.7%	-7.6%	-24.6%

SEC Filings

Expand for More

Report Date	Filing
6302025	10-Q 6/30/2025
3312025	10-Q 3/31/2025
12312024	10-K 12/31/2024
9302024	10-Q 9/30/2024
6302024	10-Q 6/30/2024
3312024	10-Q 3/31/2024
12312023	10-K 12/31/2023
9302023	10-Q 9/30/2023
6302023	10-Q 6/30/2023
3312023	10-Q 3/31/2023
12312022	10-K 12/31/2022
9302022	10-Q 9/30/2022
6302022	10-Q 6/30/2022
3312022	10-Q 3/31/2022
12312021	10-K 12/31/2021
9302021	10-Q 9/30/2021

Insider Activity

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Industry Resources

Financials Resources

Federal Reserve Economic Data

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Associated Capital (AC)

Market Price (9/5/2025): $31.15 | Market Cap: $658.4 MilSector: Financials | Industry: Asset Management & Custody Banks

Associated Capital (AC)

Market Price (9/5/2025): $31.15Market Cap: $658.4 MilSector: FinancialsIndustry: Asset Management & Custody Banks

Investment Highlights

Market Valuation

Stock Price Chart

Market Cap Chart

Business Description

Price Returns Compared

Interactive Breakdown

Better Bets than Associated Capital (AC)

Latest Trefis Analyses

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

1 Month Top Gainers

1 Month Top Losers

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Associated Capital

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

Financials

Segment Financials

Price Behavior

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Insider Activity

Industry Resources

External Quote Links

Market Price (9/5/2025): $31.15 | Market Cap: $658.4 Mil
Sector: Financials | Industry: Asset Management & Custody Banks

Market Price (9/5/2025): $31.15
Market Cap: $658.4 Mil
Sector: Financials
Industry: Asset Management & Custody Banks