Cash flow Westwood Holdings Group, Inc.

Equities

WHG

US9617651040

Investment Management & Fund Operators

Market Closed - Nyse Other stock markets 01:30:01 20/09/2024 am IST			5-day change	1st Jan Change
12.91 ^USD	+2.54%		+2.22%	+2.70%

12/08	Westwood Appoints Chris Doran as Head of ETF Distribution & National Accounts	CI
31/07	Westwood Holdings Group, Inc., Q2 2024 Earnings Call, Jul 31, 2024

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Published financial data: WESTWOOD HOLDINGS GROUP, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	8.33Cr	6.48Cr	7.34Cr	6.94Cr	8.92Cr
Gain (Loss) on Sale of Investment, Total (Rev)	42.35L	-10.62L	8L	-24.93L	13.08L
Interest And Invest. Income (Rev)	11.77L	9L	8L	5L	7L
Other Revenues, Total	-46.13L	5L	-18.42L	12.81L	-14.75L
Total Revenues	8.41Cr	6.51Cr	7.31Cr	6.87Cr	8.98Cr
Cost of Goods Sold, Total	5.02Cr	4.29Cr	4.25Cr	4.01Cr	5.29Cr
Gross Profit	3.39Cr	2.22Cr	3.05Cr	2.86Cr	3.69Cr
Selling General & Admin Expenses, Total	2.74Cr	2.38Cr	2.46Cr	2.63Cr	3.34Cr
Other Operating Expenses, Total	2.74Cr	2.38Cr	2.46Cr	2.63Cr	3.34Cr
Operating Income	64.98L	-16.28L	59.59L	22.2L	34.46L
Interest And Investment Income	13.18L	6L	9L	3L	11.91L
Net Interest Expenses	13.18L	6L	9L	3L	11.91L
Currency Exchange Gains (Loss)	-18.54L	-29.85L	-	-	-
Other Non Operating Income (Expenses)	1L	1L	6L	9L	62.41L
EBT, Excl. Unusual Items	61.06L	-38.74L	74.29L	33.93L	1.09Cr
Restructuring Charges	-	7L	-	-	-
Merger & Related Restructuring Charges	-	-	-	-70.93L	-2L
Impairment of Goodwill	-	-34.03L	-	-	-
Gain (Loss) On Sale Of Investments	32.96L	-7L	65.74L	-14.95L	6T
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-3L	-	-	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	-	27.68L
EBT, Incl. Unusual Items	94.02L	-75.88L	1.4Cr	-51.95L	1.34Cr
Income Tax Expense	34.91L	13.59L	42.4L	-6L	28.72L
Earnings From Continuing Operations	59.11L	-89.47L	97.63L	-46.28L	1.06Cr
Net Income to Company	59.11L	-89.47L	97.63L	-46.28L	1.06Cr
Minority Interest	-	-	-	-	-10.51L
Net Income - (IS)	59.11L	-89.47L	97.63L	-46.28L	95.2L
Net Income to Common Incl Extra Items	59.11L	-89.47L	97.63L	-46.28L	95.2L
Net Income to Common Excl. Extra Items	59.11L	-89.47L	97.63L	-46.28L	95.2L
Per Share Items
Net EPS - Basic	0.7	-1.12	1.24	-0.59	1.2
Basic EPS - Continuing Operations	0.7	-1.12	1.24	-0.59	1.2
Basic Weighted Average Shares Outstanding	84.08L	79.88L	78.75L	78.44L	79.64L
Net EPS - Diluted	0.7	-1.12	1.23	-0.59	1.17
Diluted EPS - Continuing Operations	0.7	-1.12	1.23	-0.59	1.17
Diluted Weighted Average Shares Outstanding	84.63L	79.88L	79.28L	78.44L	81.12L
Normalized Basic EPS	0.45	-0.3	0.59	0.27	0.72
Normalized Diluted EPS	0.45	-0.3	0.59	0.27	0.71
Dividend Per Share	2.88	0.43	0.45	0.6	0.6
Payout Ratio	441.36	-123.43	234.89	-121.54	57.79
Supplemental Items
EBITDA	91.22L	10.14L	83.33L	47.96L	82.65L
EBITA	82.24L	93T	75.83L	41.09L	75.95L
EBIT	64.98L	-16.28L	59.59L	22.2L	34.46L
EBITDAR	1.08Cr	29.12L	93.86L	57.07L	89.15L
Total Revenues (As Reported)	8.41Cr	6.51Cr	7.31Cr	6.87Cr	8.98Cr
Effective Tax Rate - (Ratio)	37.13	-17.91	30.28	10.91	21.36
Current Domestic Taxes	8L	8L	38.38L	3L	18.36L
Current Foreign Taxes	-2L	-2L	-2L	98T	-
Total Current Taxes	6L	6L	36.2L	3L	18.36L
Deferred Domestic Taxes	28.41L	5L	5L	-9L	10.36L
Deferred Foreign Taxes	65T	2L	1L	16T	-
Total Deferred Taxes	29.06L	8L	6L	-9L	10.36L
Normalized Net Income	38.16L	-24.21L	46.43L	21.21L	57.48L
Supplemental Operating Expense Items
Selling and Marketing Expenses	20.68L	11.94L	12.8L	20.03L	29.9L
General and Administrative Expenses	2.05Cr	1.89Cr	1.9Cr	2.05Cr	2.58Cr
Net Rental Expense, Total	16.52L	18.98L	10.53L	9L	6L
Stock-Based Comp., COGS (Total)	1.03Cr	67.01L	58.34L	60.01L	65.18L
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	1.03Cr	67.01L	58.34L	60.01L	65.18L

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	4.98Cr	1.3Cr	1.52Cr	2.39Cr	2.04Cr
Short Term Investments	5.03Cr	-	-	-	-
Trading Asset Securities, Total	-	6.95Cr	6.5Cr	1.53Cr	3.27Cr
Total Cash And Short Term Investments	10Cr	8.26Cr	8.02Cr	3.92Cr	5.31Cr
Accounts Receivable, Total	1.32Cr	98.79L	1.13Cr	1.39Cr	1.44Cr
Other Receivables	-	17L	2L	4L	2L
Total Receivables	1.32Cr	1.16Cr	1.15Cr	1.43Cr	1.46Cr
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	36.94L	21.77L	21.06L	46.45L	45.43L
Total Current Assets	12Cr	9.63Cr	9.39Cr	5.82Cr	7.22Cr
Gross Property Plant And Equipment	1.91Cr	1.73Cr	1.56Cr	1.6Cr	1.52Cr
Accumulated Depreciation	-73.95L	-80.56L	-86.37L	-91.96L	-1.01Cr
Net Property Plant And Equipment	1.17Cr	92.89L	69.82L	68.04L	51.17L
Long-term Investments	1.24Cr	1.17Cr	89.68L	1.41Cr	1.18Cr
Goodwill	1.98Cr	1.64Cr	1.64Cr	3.57Cr	3.95Cr
Other Intangibles, Total	1.53Cr	1.35Cr	1.19Cr	2.9Cr	2.48Cr
Deferred Tax Assets Long-Term	22.16L	14.68L	8L	17.62L	7L
Other Long-Term Assets, Total	4L	5L	6L	9L	10.1L
Total Assets	18Cr	15Cr	14Cr	15Cr	16Cr
Liabilities
Accounts Payable, Total	15.45L	12.27L	22.37L	52.78L	46.3L
Accrued Expenses, Total	1.06Cr	78.48L	99.3L	90.89L	1.1Cr
Current Portion of Leases	15.84L	17.18L	14.09L	15.02L	12.86L
Current Income Taxes Payable	3L	2L	5L	-	-
Other Current Liabilities	73.62L	8L	18L	17.45L	16.92L
Total Current Liabilities	2.14Cr	1.18Cr	1.58Cr	1.76Cr	1.86Cr
Long-Term Leases	77.62L	61.21L	47.24L	45.63L	32.66L
Other Non Current Liabilities	13.03L	5L	11.33L	1.36Cr	1.08Cr
Total Liabilities	3.04Cr	1.84Cr	2.17Cr	3.58Cr	3.27Cr
Common Stock, Total	1L	1L	1L	1L	1L
Additional Paid In Capital	20Cr	21Cr	20Cr	20Cr	20Cr
Retained Earnings	1.1Cr	-16.95L	43.62L	-42.53L	46.5L
Treasury Stock	-6.33Cr	-7.8Cr	-8.18Cr	-8.51Cr	-8.6Cr
Comprehensive Income and Other	-29.43L	-	-	-	-
Total Common Equity	15Cr	13Cr	12Cr	11Cr	12Cr
Minority Interest	-	-	-	-	20.45L
Total Equity	15Cr	13Cr	12Cr	11Cr	12Cr
Total Liabilities And Equity	18Cr	15Cr	14Cr	15Cr	16Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	84.35L	79.36L	78.18L	81.42L	79.3L
ECS Total Common Shares Outstanding	84.04L	78.32L	78.21L	77.78L	80.08L
Book Value / Share	17.65	16.69	15.08	14.23	15.04
Tangible Book Value	11Cr	10Cr	8.96Cr	4.6Cr	5.61Cr
Tangible Book Value Per Share	13.47	12.87	11.46	5.91	7.01
Total Debt	93.46L	78.39L	61.33L	60.65L	45.52L
Net Debt	-9.07Cr	-7.47Cr	-7.41Cr	-3.31Cr	-4.85Cr
Debt Equivalent Oper. Leases	1.32Cr	1.52Cr	84.24L	72.88L	52L
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	20.45L
Equity Method Investments, Total	-	-	-	65.74L	42.84L
Account Code - Inventory Valuation	3	3	-	-	-
Machinery, Total	60.24L	58.57L	57.95L	61.03L	63.49L
Full Time Employees	165	136	130	152	145

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	59.11L	-89.47L	97.63L	-46.28L	1.06Cr
Depreciation & Amortization - CF	9L	9L	8L	7L	7L
Amortization of Goodwill and Intangible Assets - (CF)	17.26L	17.21L	16.24L	18.89L	41.49L
Depreciation & Amortization, Total	26.24L	26.42L	23.74L	25.76L	48.19L
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-	48T	-1L	-	69T
(Gain) Loss on Sale of Investments - (CF)	-36.5L	10.56L	-65.26L	21.36L	-8L
Asset Writedown & Restructuring Costs	-	34.03L	-	-	-
Stock-Based Compensation (CF)	1.03Cr	67.01L	58.35L	60.01L	65.18L
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	40.57L	64.23L	18.55L	2L	-57.48L
Change in Trading Asset Securities	1.58Cr	-1.96Cr	45.13L	4.9Cr	-1.66Cr
Change In Accounts Receivable	54.04L	36.83L	-17.02L	-3L	1L
Change In Accounts Payable	-4L	-5L	10.09L	12.51L	-4L
Change In Income Taxes	-8L	-7L	17.5L	-7L	2L
Change in Other Net Operating Assets	-70.59L	-40.01L	7L	-40.17L	1L
Cash from Operations	3.22Cr	-97.7L	1.94Cr	5.15Cr	-11.85L
Capital Expenditure	-6L	-93T	-2L	-3L	-1L
Sale of Property, Plant, and Equipment	-	89T	5L	-	-
Cash Acquisitions	-	-	-	-3.34Cr	-7L
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-6L	-	-	-	-
Investment in Marketable and Equity Securities, Total	-36.71L	-	92.43L	-	-
Other Investing Activities, Total	-	-	-	-	50L
Cash from Investing	-48.48L	-4T	95.66L	-3.37Cr	41.12L
Repurchase of Common Stock	-57.81L	-1.48Cr	-38.74L	-34.78L	-9L
Common Dividends Paid	-2.61Cr	-1.1Cr	-2.29Cr	-56.25L	-55.02L
Common & Preferred Stock Dividends Paid	-2.61Cr	-1.1Cr	-2.29Cr	-56.25L	-55.02L
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-3.19Cr	-2.58Cr	-2.68Cr	-91.03L	-63.64L
Foreign Exchange Rate Adjustments	18.63L	-11.64L	45T	5T	-
Net Change in Cash	-26.83L	-3.68Cr	21.9L	86.53L	-34.37L
Supplemental Items
Cash Income Tax Paid (Refund)	14.31L	12.71L	18.58L	18.58L	15.94L
Levered Free Cash Flow	1.45Cr	16.52L	1.62Cr	59.64L	1.44Cr
Unlevered Free Cash Flow	1.45Cr	16.52L	1.62Cr	59.64L	1.44Cr
Change In Net Working Capital	12.86L	65.8L	-44.82L	36.81L	-10.98L

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.15	-0.62	2.58	0.97	1.43
Return on Total Capital	2.46	-0.69	2.84	1.15	1.77
Return On Equity %	3.82	-6.41	7.85	-4.05	9.07
Return on Common Equity	3.82	-6.41	7.85	-4.05	8.24
Margin Analysis
Gross Profit Margin %	40.35	34.05	41.78	41.58	41.06
SG&A Margin	32.62	36.55	33.62	38.35	37.22
EBITDA Margin %	10.85	1.56	11.41	6.98	9.21
EBITA Margin %	9.78	0.14	10.38	5.98	8.46
EBIT Margin %	7.73	-2.5	8.16	3.23	3.84
Income From Continuing Operations Margin %	7.03	-13.74	13.36	-6.74	11.77
Net Income Margin %	7.03	-13.74	13.36	-6.74	10.6
Net Avail. For Common Margin %	7.03	-13.74	13.36	-6.74	10.6
Normalized Net Income Margin	4.54	-3.72	6.36	3.09	6.4
Levered Free Cash Flow Margin	17.28	2.54	22.23	8.68	16.09
Unlevered Free Cash Flow Margin	17.28	2.54	22.23	8.68	16.09
Asset Turnover
Asset Turnover	0.44	0.4	0.51	0.48	0.6
Fixed Assets Turnover	6.76	6.2	8.98	9.96	15.06
Receivables Turnover (Average Receivables)	5.27	5.62	6.93	5.54	6.31
Short Term Liquidity
Current Ratio	5.48	8.17	5.92	3.3	3.87
Quick Ratio	5.3	7.98	5.79	3.04	3.63
Operating Cash Flow to Current Liabilities	1.51	-0.83	1.22	2.92	-0.06
Days Sales Outstanding (Average Receivables)	69.26	65.15	52.64	65.89	57.86
Average Days Payable Outstanding	11.15	11.81	16.58	36	32.1
Long Term Solvency
Total Debt/Equity	6.3	6	5.2	5.48	3.72
Total Debt / Total Capital	5.93	5.66	4.94	5.2	3.58
LT Debt/Equity	5.23	4.68	4.01	4.12	2.67
Long-Term Debt / Total Capital	4.92	4.42	3.81	3.91	2.57
Total Liabilities / Total Assets	17.02	12.36	15.54	24.43	21.09
Total Debt / EBITDA	0.87	2.69	0.65	1.06	0.51
Net Debt / EBITDA	-8.42	-25.66	-7.89	-5.81	-5.45
Total Debt / (EBITDA - Capex)	0.92	2.78	0.67	1.13	0.52
Net Debt / (EBITDA - Capex)	-8.91	-26.51	-8.05	-6.15	-5.54
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-31.25	-22.56	12.2	-5.99	30.72
Gross Profit, 1 Yr. Growth %	-45.58	-34.65	32.88	-6.44	29.09
EBITDA, 1 Yr. Growth %	-74.44	-88.88	489.32	-42.45	72.33
EBITA, 1 Yr. Growth %	-76.38	-98.87