公司概述
Silvercrest Asset Management Group Inc. operates as a wealth management firm that provides comprehensive financial advisory services and related family office solutions specifically tailored to the United States market. The company primarily targets ultra-high net worth individuals and families, along with their trusts, endowments, foundations, and other institutional investors, thereby positioning itself within the high-end advisory sector. It functions within the Financial Services sector and the Asset Management industry, where its role involves managing complex portfolios and offering bespoke planning for sophisticated clientele. With a market capitalization of $106.39M and annual revenue of $125.32M, the firm maintains a modest but specialized scale supported by an employee base of 171. These valuation and revenue figures indicate that the company occupies a niche position in the broader asset management landscape, serving a highly segmented client base rather than competing for mass-market retail assets.
财务健康
The company reported a trailing twelve-month revenue of $125.32M and generated a net income of $4.88M, while its EBITDA reached $11.75M. The significant gap between the revenue figure and the net income reveals a cost structure where operating expenses and other deductions consumed approximately 61% of total revenue, resulting in a negative operating margin of -2.9% despite a positive profit margin of 3.9%. The firm demonstrated a free cash flow of $12.02M, which indicates substantial financial flexibility to fund operations, pay down debt, or pursue strategic initiatives without immediate reliance on external financing. In terms of liquidity, the company holds $44.07M in cash against $23.98M in debt, resulting in a debt-to-equity ratio of 28.25, though the absolute debt level is manageable relative to cash reserves. A current ratio of 1.10 suggests that the company possesses just enough current assets to cover its current liabilities, indicating a tight but acceptable short-term liquidity position. Return on equity stands at 7.9% and return on assets is 3.2%, metrics that reveal how effectively management utilizes shareholder capital and total assets to generate earnings, with the ROE reflecting the leverage inherent in the capital structure.
估值评估
The trailing twelve-month P/E ratio is 23.39, whereas the forward P/E ratio is significantly lower at 11.91, implying that the market expects a substantial increase in future earnings relative to current profitability levels. The price-to-book ratio of 2.03 indicates that the market values the company at more than double its book value, suggesting a premium assigned to its intangible assets, brand, or the quality of its managed assets. Alternative valuation metrics such as a price-to-sales ratio of 0.85 and an EV/EBITDA of 9.78 provide context that the company is trading at a discount relative to its sales and earnings power compared to many growth-oriented peers. Regarding price action, the stock has traded between a 52-week low of $12.92 and a high of $16.99, meaning the current valuation sits within this historical range and reflects volatility typical of the financial services sector. The beta of 0.76 indicates that the stock's price volatility is lower than the broader market, suggesting it may act as a defensive holding during periods of market turbulence.
Growth & Income
The revenue growth year-over-year is 0.0%, while earnings growth is listed as N/A due to insufficient comparative data in the trailing twelve-month period, implying that the company is currently in a stabilization phase rather than a rapid expansion phase. As a dividend payer, the company offers a dividend yield of 6.3% with a payout ratio of 146.4%, a metric that indicates dividends are being paid out of capital reserves or prior earnings rather than current operating income, which warrants scrutiny regarding long-term sustainability. Given the payout ratio exceeding 100%, the firm is currently distributing more than its annual net income of $4.88M, which suggests a reliance on cash balances or non-operating income to fund the dividend stream rather than reinvesting earnings into growth. Overall, the growth and income profile presents a mix of stagnant top-line revenue and a high-yield dividend that is not fully supported by current earnings generation.