NYSE:AC

Stock Analysis Report

Executive Summary

Associated Capital Group, Inc. provides investment advisory and asset management services in the United States.


Snowflake Analysis

Overvalued with worrying balance sheet.


Similar Companies

Share Price & News

How has Associated Capital Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AC's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-8.2%

AC

-4.2%

US Capital Markets

-4.2%

US Market


1 Year Return

-6.9%

AC

12.0%

US Capital Markets

14.0%

US Market

Return vs Industry: AC underperformed the US Capital Markets industry which returned 15.4% over the past year.

Return vs Market: AC underperformed the US Market which returned 17.8% over the past year.


Shareholder returns

ACIndustryMarket
7 Day-8.2%-4.2%-4.2%
30 Day-6.8%-2.1%-1.8%
90 Day9.1%1.1%2.6%
1 Year-6.4%-6.9%14.3%12.0%16.3%14.0%
3 Year7.6%5.8%35.2%27.6%43.2%34.0%
5 Yearn/a74.5%58.3%65.9%47.6%

Price Volatility Vs. Market

How volatile is Associated Capital Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Associated Capital Group undervalued compared to its fair value and its price relative to the market?

1x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate AC's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate AC's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: AC is unprofitable, so we can't compare its PE Ratio to the Capital Markets industry average.

PE vs Market: AC is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate AC's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: AC is good value based on its PB Ratio (1.1x) compared to the US Capital Markets industry average (6.6x).


Next Steps

Future Growth

How is Associated Capital Group forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

8.7%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Associated Capital Group has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Associated Capital Group performed over the past 5 years?

-62.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AC is currently unprofitable.

Growing Profit Margin: AC is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: AC is unprofitable, and losses have increased over the past 5 years at a rate of -62% per year.

Accelerating Growth: Unable to compare AC's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: AC is unprofitable, making it difficult to compare its past year earnings growth to the Capital Markets industry (8.4%).


Return on Equity

High ROE: AC has a negative Return on Equity (-1.09%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Associated Capital Group's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: AC has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if AC's debt is covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable AC has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: AC is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 14.7% per year.


Financial Institutions Analysis

Asset Level: AC's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if AC has a sufficient allowance for bad loans.

Low Risk Liabilities: AC reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if AC has an acceptable proportion of non-loan assets held.

Low Risk Deposits: AC has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if AC has an appropriate level of bad loans.


Next Steps

Dividend

What is Associated Capital Group's current dividend yield, its reliability and sustainability?

0.51%

Current Dividend Yield


Dividend Yield vs Market

company0.5%marketbottom25%1.5%markettop25%3.8%industryaverage2.0%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: AC's dividend (0.46%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: AC's dividend (0.46%) is low compared to the top 25% of dividend payers in the US market (3.73%).


Stability and Growth of Payments

Stable Dividend: AC is not paying a notable dividend for the US market, therefore no need to check if payments are stable.

Growing Dividend: AC is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: AC is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of AC's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.3yrs

Average management tenure


CEO

Doug Jamieson (65yo)

3.3yrs

Tenure

US$1,630,520

Compensation

Mr. Douglas Richard Jamieson, also known as Doug, serves as a President, Chief Executive Officer and Director at Gabelli & Company Investment Advisers, Inc.. Mr. Douglas Richard Jamieson has been the Chief ...


CEO Compensation Analysis

Compensation vs Market: Doug's total compensation ($USD1.63M) is below average for companies of similar size in the US market ($USD2.51M).

Compensation vs Earnings: Doug's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Mario Gabelli
Executive Chairman of the Board4.3yrsUS$405.78k1.52% $13.5m
Douglas Jamieson
President3.3yrsUS$1.63m0.20% $1.8m
Kevin Handwerker
Executive VP4.2yrsUS$458.15k0.0020% $17.4k
Marc Gabelli
Executive Director1.8yrsUS$53.90k0.14% $1.3m
Kenneth Masiello
Chief Accounting Officer0.9yrsno datano data
Agnes Mullady
Executive Vice President3.3yrsno datano data

3.3yrs

Average Tenure

62yo

Average Age

Experienced Management: AC's management team is considered experienced (3.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Mario Gabelli
Executive Chairman of the Board4.3yrsUS$405.78k1.52% $13.5m
Douglas Jamieson
President3.3yrsUS$1.63m0.20% $1.8m
Marc Gabelli
Executive Director1.8yrsUS$53.90k0.14% $1.3m
Salvatore Sodano
Independent Vice Chairman4.3yrsUS$120.00kno data
Frederic Salerno
Lead Independent Director0yrsUS$85.00kno data
Bruce Lisman
Independent Director4.3yrsUS$113.00k0.027% $236.8k
Daniel Lee
Independent Director0yrsUS$85.00kno data
Elisa Wilson
Director1yrsno data0.12% $1.1m

3.5yrs

Average Tenure

64yo

Average Age

Experienced Board: AC's board of directors are considered experienced (3.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Associated Capital Group, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Associated Capital Group, Inc.
  • Ticker: AC
  • Exchange: NYSE
  • Founded: 2015
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: US$887.647m
  • Shares outstanding: 22.49m
  • Website: https://www.associated-capital-group.com

Number of Employees


Location

  • Associated Capital Group, Inc.
  • One Corporate Center
  • Rye
  • New York
  • 10580
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ACNYSE (New York Stock Exchange)YesClass A Common SharesUSUSDNov 2015
41JDB (Deutsche Boerse AG)YesClass A Common SharesDEEURNov 2015

Biography

Associated Capital Group, Inc. provides investment advisory and asset management services in the United States. It offers alternative investment management, institutional research, and underwriting services. The company was founded in 2015 and is headquartered in Rye, New York. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/25 01:45
End of Day Share Price2020/02/24 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.