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Cowen (CWGR.P) Stock Overview

CWGR.P fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	2/6
Financial Health	3/6
Dividends	1/6

Rewards

Trading at 15.8% below our estimate of its fair value

Risk Analysis

Shares are highly illiquid

Profit margins (5.4%) are lower than last year (15.2%)

CWGR.P Community Fair Values

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Cowen Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Cowen
Historical stock prices
Current Share Price	US$1,524.00
52 Week High	US$1,600.01
52 Week Low	US$1,095.00
Beta	1.41
1 Month Change	0%
3 Month Change	0.93%
1 Year Change	24.53%
3 Year Change	77.21%
5 Year Change	84.98%
Change since IPO	136.28%

Recent updates

Shareholder Returns

	CWGR.P	US Capital Markets	US Market
7D	0%	-0.6%	-0.2%
1Y	24.5%	3.1%	14.8%

Return vs Industry: CWGR.P exceeded the US Capital Markets industry which returned -4.9% over the past year.

Return vs Market: CWGR.P exceeded the US Market which returned -7.7% over the past year.

Price Volatility

Is CWGR.P's price volatile compared to industry and market?
CWGR.P volatility
CWGR.P Average Weekly Movement	n/a
Capital Markets Industry Average Movement	3.3%
Market Average Movement	6.9%
10% most volatile stocks in US Market	15.5%
10% least volatile stocks in US Market	2.9%

Stable Share Price: CWGR.P has not had significant price volatility in the past 3 months.

Volatility Over Time: Insufficient data to determine CWGR.P's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
1918	1,534	Jeff Solomon	www.cowen.com

Cowen Inc., together with its subsidiaries, provides investment banking, research, sales and trading, prime brokerage, global clearing, securities financing, commission management, and investment management services in the United States and internationally. It operates in two segments, Operating Company (Op Co) and Asset Company (Asset Co). The company offers public and private capital raising, and strategic advisory services for public and private companies. It also trades common stocks, listed options, equity-linked securities, and other financial instruments on behalf of institutional investor clients.

Cowen Inc. Fundamentals Summary

How do Cowen's earnings and revenue compare to its market cap?
CWGR.P fundamental statistics
Market cap	US$1.06b
Earnings (TTM)	US$69.67m
Revenue (TTM)	US$1.28b

15.2x

P/E Ratio

0.8x

P/S Ratio

Is CWGR.P overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
CWGR.P income statement (TTM)
Revenue	US$1.28b
Cost of Revenue	US$412.46m
Gross Profit	US$866.14m
Other Expenses	US$796.47m
Earnings	US$69.67m

Last Reported Earnings

Dec 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	2.56
Gross Margin	67.74%
Net Profit Margin	5.45%
Debt/Equity Ratio	188.0%

How did CWGR.P perform over the long term?

See historical performance and comparison

Dividends

1.2%

Current Dividend Yield

19%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2023/03/02 13:29
End of Day Share Price	2022/12/30 00:00
Earnings	2022/12/31
Annual Earnings	2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Cowen Inc. is covered by 8 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Guy Moszkowski	BofA Global Research
Devin Ryan	Citizens JMP Securities, LLC
James Yaro	Goldman Sachs

Cowen Inc.OTCPK:CWGR.P Stock Report