Cohen & Co Inc. COHN

Financials SIC 6211 - Security Brokers, Dealers & Flotation Companies NAICS Finance and Insurance › Securities, Commodity Contracts, and Other Financial Investments and Related Activities › Securities and Commodity Contracts Intermediation and Brokerage › Investment Banking and Securities Intermediation derived NYSE

INFORMATION REGARDING COHEN & COMPANY INC.

We are a Maryland corporation that incorporated on October 6, 2003. We are a financial services company specializing in an expanding range of capital markets and asset management services. Our business segments are Capital Markets, Asset Management, and Principal Investing. Our Capital Markets business segment consists of sales, trading, gestation repo financing, new issue placements in corporate and securitized products, underwriting, and advisory services, operating primarily through our subsidiaries, Cohen Securities in the United States (the "U.S.") and CCFESA in Europe. A division of Cohen Securities, Cohen & Company Capital Markets ("CCM") is our full-service boutique investment bank providing capital markets and special purpose acquisition corporation ("SPAC") advisory services to corporations, financial sponsors, investors, and institutions. Our Capital Markets business segment also includes investment returns on financial instruments that we have received as consideration for investment banking and new issue services provided by CCM. Our Asset Management business segment manages assets through investment vehicles, such as investment funds, managed accounts, joint ventures, and collateralized debt obligations ("CDOs") (collectively, "Investment Vehicles"). As of December 31, 2025, we had approximately $1.4 billion of assets under management ("AUM") in primarily fixed income assets in a variety of asset classes including European bank and insurance trust preferred securities ("TruPS"), debt issued by small and medium sized European, U.S., and Bermudian insurance and reinsurance companies, and commercial real estate loans. Our Principal Investing business segment is comprised primarily of investments we have made for the purpose of earning an investment return rather than investments made to support our trading or other capital markets business activity.

Last close 9.23 2026-10-26
Market cap $29.8M 2026-06-30 share count
52-week range 8.93 - 32.60

Valuation FY2025 figures against the last close

P/S0.1x
P/E2.1x
P/FCF1.1x
EV/EBITDA0.1x
Dividend yield7.2%
Diluted EPS4.35

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Non-US
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 265.6M (96.4%) 96% United States Non-US, FY2025: 10M (3.6%) 4% FY2024 United States, FY2024: 72.6M (91.2%) 91% Non-US, FY2024: 7M (8.8%) 9% FY2023 United States, FY2023: 77.5M (93.4%) 93% Non-US, FY2023: 5.4M (6.6%) 7%
Region FY2025FY2024FY2023
United States $265.6M $72.6M $77.5M
Non-US $10.0M $7.0M $5.4M

As the company reported it, from the “Note 29 - Segment and Geographic Information - Geographic Data (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $275.6M$79.6M$83.0M$44.4M$146.4M$130.1M$49.7M$49.4M$47.5M$55.3M
Total operating expenses $216.2M$87.6M$76.1M$72.3M$106.8M$87.8M$45.6M$45.7M$40.1M$46.8M
Operating income $59.4M-$8.0M$6.9M-$28.0M$39.6M$42.3M$4.0M$3.7M$7.4M$8.6M
Interest expense $35.2M$38.3M$31.3M$33.7M$41.0M$66.2M$168.1M$65.7M$6.2M$4.7M
Pre-tax income $39.5M$7.9M$15.9M-$53.9M$70.5M$29.8M-$4.1M-$4.8M$1.2M$3.9M
Income tax $632.0K$329.0K$5.5M$4.8M$3.5M$8.7M$523.0K$841.0K$1.2M$422.0K
Net income $14.4M-$129.0K-$5.1M-$13.4M$11.8M$14.2M-$2.1M-$2.5M$2.1M$2.3M
EPS, basic 8.33-0.08-3.38-9.439.9512.56-1.81-2.141.711.86
EPS, diluted 4.35-0.08-3.38-9.437.837.66-1.81-2.141.601.85
Shares, diluted (wtd. avg.) 6.0M5.7M1.5M1.4M5.3M5.1M1.7M1.7M2.6M1.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $56.8M$19.6M$10.7M$29.1M$50.6M$42.0M$8.3M$14.1M$22.9M$15.2M
Property, plant and equipment $2.5M$2.0M$1.3M$1.5M$1.5M$799.0K$916.0K$1.1M$392.0K$498.0K
Goodwill $109.0K$109.0K$109.0K$109.0K$109.0K$109.0K$8.0M$8.0M$8.0M$8.0M
Other intangibles $166.0K$166.0K$166.0K$166.0K$166.0K$166.0K$166.0K$166.0K$166.0K$166.0K
Total assets $700.6M$971.1M$772.8M$887.1M$3.66B$6.15B$8.00B$8.12B$2.04B$561.3M
Long-term debt $32.9M$34.9M$29.7M$29.0M$43.4M$47.1M$48.9M$43.5M$44.2M$29.5M
Total liabilities $597.5M$880.9M$681.0M$793.0M$3.50B$6.05B$7.95B$8.07B$1.99B$514.5M
Retained earnings -$26.6M-$34.0M-$32.0M-$25.2M-$9.2M-$20.3M-$34.5M-$31.9M-$28.5M-$29.6M
Total equity $51.1M$41.7M$91.8M$94.0M$151.4M$101.4M$48.8M$42.4M$48.2M$46.8M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $27.4M$9.5M-$39.7M-$23.5M$18.3M$41.4M-$15.5M-$7.0M-$11.9M-$8.7M
Depreciation and amortisation —————————$291.0K
Stock-based compensation $20.2M$4.7M$4.4M$4.4M$15.7M$12.6M$744.0K$623.0K$732.0K$1.2M
Capital expenditure $1.3M$1.2M$373.0K$573.0K$1.0M$217.0K$101.0K$1.0M$143.0K$223.0K
Investing cash flow $26.2M$16.5M$38.1M$13.8M-$22.5M-$11.9M$3.7M$2.2M-$3.9M$8.0M
Financing cash flow -$17.3M-$16.7M-$17.1M-$11.5M$13.2M$3.8M$5.9M-$3.7M$23.1M$2.3M
Dividends paid $2.1M$1.9M$1.8M$2.6M$671.0K$27.0K$519.0K$966.0K$985.0K$954.0K
Buybacks ——$0$0$857.0K$2.1M$299.0K$769.0K$572.0K$2.3M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-043967.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -100M 0 100M 200M 300M Revenue, FY2016: 55.3M Net income, FY2016: 2.3M Revenue, FY2017: 47.5M Net income, FY2017: 2.1M Revenue, FY2018: 49.4M Net income, FY2018: -2.5M Revenue, FY2019: 49.7M Net income, FY2019: -2.1M Revenue, FY2020: 130.1M Net income, FY2020: 14.2M Revenue, FY2021: 146.4M Net income, FY2021: 11.8M Revenue, FY2022: 44.4M Net income, FY2022: -13.4M Revenue, FY2023: 83M Net income, FY2023: -5.1M Revenue, FY2024: 79.6M Net income, FY2024: -129K Revenue, FY2025: 275.6M Net income, FY2025: 14.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $55.3M $47.5M $49.4M $49.7M $130.1M $146.4M $44.4M $83.0M $79.6M $275.6M
Gross profit — — — — — — — — — —
Net income $2.3M $2.1M -$2.5M -$2.1M $14.2M $11.8M -$13.4M -$5.1M -$129.0K $14.4M

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Material agreement signed Item 1.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Material agreement signed Item 1.01
  • Material agreement terminated Item 1.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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