Binah Capital Group, Inc. is a US-listed company in the diversified financial services industry. Its financial year ends in December.
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~$0.9
Price-to-earnings vs peers
Base case. Range ~$0.9–$4.5. Earnings per share times peers' typical (harmonic-mean) price-to-earnings.
No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.
Binah Capital Group, Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months to June 2026 was $192m, up 8.3% on a year earlier, faster than the 6.0% growth a quarter earlier. Our valuation models combined value is $1.74 a share, against a share price of $1.14.
Source: 10-Q filed August 13, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Binah Capital Group, Inc.'s trailing-twelve-month revenue grew 8.3% year on year, with a free-cash-flow margin of 2.9%. Where it stands out: net margin of 2.2% ranks 3 of 14 diversified financial services companies we cover.
Current signal Net margin expanding: TTM net margin reached 2.2%, up 3.2pp year over year.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Nothing in Binah Capital Group, Inc.'s latest figures clears our strength thresholds.
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Company announcements, filed results and changes that matter to shareholders.
We value Binah Capital Group, Inc. as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 7.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.58 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | ~$0.9 ~$1.7–$4.5 | Primary model, counts double |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. | ~$0.1 ~$1.0–$5.0 | Left out: out of range vs price (0.06x) |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | — | Does not apply: pays no regular dividend |
| Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$0.9 ~$0.9–$4.5 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Binah Capital Group, Inc. with asset managers, brokers and exchanges in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
No analyst estimates are published for Binah Capital Group, Inc.: too few analysts cover it.
Last 12 months −35.1%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $177m | $192m | +8.3% |
| P/S multiple | 0.2x | 0.1x | −38.0% |
| Share count | 17m | 17m | −3.4% |
Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.
| Calendar year | 2025 | 2026 to date |
|---|---|---|
| Return | ||
| BCG | −2% | −62% |
| Industry peers (median) | −18% | −33% |
| S&P 500 | +18% | +11% |
| Months that ended higher | ||
| BCG | 42% | 9% |
| S&P 500 | 75% | 46% |
| Largest fall from a high during the year | ||
| BCG | −54% | −66% |
| S&P 500 | −19% | −9% |
Worst fall since March 27, 2024: 92% from March 28, 2024 to October 7, 2026. Getting back needed a 1207% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 14, 2026 | +0.6% | −0.7% | −9.7% | −18.7% |
| May 15, 2026 | −14.5% | −1.3% | −12.4% | −17.1% |
| March 31, 2026 | +15.5% | +3.7% | +1.9% | −3.4% |
| November 13, 2025 | +16.9% | −1.7% | +57.4% | +38.5% |
| August 14, 2025 | −5.6% | −0.2% | −9.3% | −32.2% |
| May 15, 2025 | −3.3% | +1.1% | −1.6% | −14.4% |
| March 31, 2025 | +3.1% | +1.0% | −6.7% | +16.4% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q4 | $168M |
| FY24 Q1 | $166M |
| FY24 Q2 | $166.2M |
| FY24 Q3 | $165.6M |
| FY24 Q4 | $168.9M |
| FY25 Q1 | $176.4M |
| FY25 Q2 | $177.2M |
| FY25 Q3 | $181.2M |
| FY25 Q4 | $187.1M |
| FY26 Q1 | $186.9M |
| FY26 Q2 | $191.9M |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY24 Q4 | 0.6% |
| FY25 Q1 | 6.2% |
| FY25 Q2 | 6.6% |
| FY25 Q3 | 9.5% |
| FY25 Q4 | 10.8% |
| FY26 Q1 | 6.0% |
| FY26 Q2 | 8.3% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY23 Q4 | 1.5% |
| FY24 Q1 | -0.6% |
| FY24 Q2 | 0.1% |
| FY24 Q3 | -0.2% |
| FY24 Q4 | -0.4% |
| FY25 Q1 | 2.0% |
| FY25 Q2 | 1.4% |
| FY25 Q3 | 2.1% |
| FY25 Q4 | 2.7% |
| FY26 Q1 | 2.4% |
| FY26 Q2 | 2.9% |
| Fiscal year | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|---|
| Income | ||||
| Revenue | 168 | 169 | 187 | 192 |
| Net income | 1 | −5 | 2 | 4 |
| Diluted EPS | — | −$0.39 | $0.04 | $0.24 |
| Growth (year on year) | ||||
| Revenue | — | +0.6% | +10.8% | +8.3% |
| Margins | ||||
| Net margin | 0.3% | −3.1% | 1.2% | 2.2% |
| Free-cash-flow margin | 1.5% | −0.4% | 2.7% | 2.9% |
| Cash flow | ||||
| Cash from operations | 3 | −1 | 5 | 6 |
| Capital spending | 0 | 0 | 0 | 0 |
| Free cash flow | 2 | −1 | 5 | 6 |
| Stock-based pay | — | — | 1 | 1 |
| Free cash flow after stock pay | — | — | 4 | 5 |
| Balance sheet | ||||
| Cash | 8 | 8 | 11 | 11 |
| Total debt | 0 | 20 | 18 | 17 |
| Net debt (negative = net cash) | −8 | 12 | 8 | 6 |
| Diluted shares | — | 17m | 17m | 17m |
| Quarter | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 42 | 45 | 49 | 41 | 46 | 51 | 49 | 47 |
| Net income | −1 | −1 | 1 | −1 | 2 | 0 | 2 | 0 |
| Diluted EPS | −$0.09 | −$0.09 | $0.04 | −$0.06 | $0.08 | −$0.02 | $0.09 | $0.00 |
| Growth (year on year) | ||||||||
| Revenue | −1.5% | +8.1% | +18.1% | +2.1% | +9.5% | +13.2% | −0.5% | +12.1% |
| Net income | — | — | — | — | — | — | +84.0% | — |
| Diluted EPS | — | — | — | — | — | — | +125.0% | — |
| Margins | ||||||||
| Net margin | −2.7% | −2.5% | 2.1% | −1.6% | 3.8% | 0.3% | 3.9% | 0.7% |
| Free-cash-flow margin | −0.8% | 3.9% | 2.1% | 0.1% | 1.9% | 6.1% | 1.1% | 2.4% |
| Cash flow | ||||||||
| Cash from operations | −0 | 2 | 1 | 0 | 1 | 3 | 1 | 1 |
| Capital spending | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | −0 | 2 | 1 | 0 | 1 | 3 | 1 | 1 |
| Stock-based pay | — | — | — | — | 0 | 0 | 0 | 0 |
| Free cash flow after stock pay | — | — | — | — | 1 | 3 | 0 | 1 |
| Last 12 months unless stated | BCG | HKD | AMTD | BMNR | VIP | ZNB | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $192m | $136m | $101m | $61m | $51m | $28m | $28m |
| Revenue growth, last 12 months | 8.3% | 565.7% | 25.8% | >999% | −14.1% | 225.0% | 30.9% |
| Revenue growth, 3-year average | — | — | — | 409.8% | −9.1% | — | −9.1% |
| Revenue growth, latest quarter | 12.1% | — | — | >999% | −73.7% | — | 25.1% |
| Gross margin | — | — | — | 84.4% | — | −18.6% | 25.7% |
| Operating margin | — | 0.8% | — | <−999% | −24.0% | −66.0% | −148.1% |
| Operating margin, 3-year average | — | — | — | <−999% | −19.2% | — | −144.9% |
| Net margin | 2.2% | 71.3% | 66.4% | <−999% | 1.0% | −555.2% | −65.5% |
| Cash from operations / revenue | 3.0% | 10.6% | 17.6% | −479.0% | −39.7% | −24.5% | −13.4% |
| Free-cash-flow margin | 2.9% | 10.5% | 16.9% | −481.4% | −57.9% | −58.9% | −30.5% |
| Free-cash-flow margin, 3-year average | 1.5% | — | — | −157.5% | −49.1% | — | −35.7% |
| Stock pay / revenue | 0.5% | 0.4% | — | 64.5% | 1.9% | 2.3% | 2.1% |
| Change in share count | — | 61.1% | — | 3.2% | 26.1% | >999% | 18.8% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 8.3% | 36.0% | 9 of 14 |
| Change in growth rate Growth | +2.3pp | +2.3pp | 7 of 14 |
| Net margin Profitability | 2.2% | -31.4% | 3 of 14 |
| Stock pay as % of revenue Cash generation | 0.5% | 2.3% | 3 of 8 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Line of business | Revenue | YoY |
|---|---|---|
| Variable Annuities and Other Insurance Commissions | $107M | ▲ 6.4% |
| Advisory Fees | $28.6M | ▲ 14.7% |
| Mutual Fund Commissions | $24M | ▲ 13.7% |
| Securities Commissions | $11.8M | ▲ 0.3% |
| Alternative Investments | $10.7M | ▲ 76.3% |
These categories overlap or exclude eliminations, so shares aren't shown.
From Binah Capital Group, Inc.'s 10-K filed March 31, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Vanguard Capital Management LLC | $190,895 | 124K | 37.1% | 0.0% |
| Geode Capital Management, LLC | $60,716 | 39K | 11.8% | ▲ 9.0% |
| Grimes & Co Wealth Management, LLC | $51,562 | 33K | 10.0% | 0.0% |
| Citadel Advisors LLC | $49,888 | 32K | 9.7% | New |
| State Street Corp | $38,654 | 25K | 7.5% | 0.0% |
| Vanguard Fiduciary Trust Co | $33,885 | 22K | 6.6% | 0.0% |
| Keystone Wealth Services, LLC | $32,648 | 21K | 6.3% | New |
| Blackrock, Inc. | $20,473 | 13K | 4.0% | ▲ 11.8% |
| UBS Group AG | $18,116 | 12K | 3.5% | ▼ 23.8% |
| Citigroup Inc | $10,318 | 7K | 2.0% | New |
| Tower Research Capital LLC (TRC) | $6,577 | 4K | 1.3% | ▲ 229.3% |
| Farther Finance Advisors, LLC | $770 | 1K | 0.1% | 0.0% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Binah Capital Group, Inc.'s complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Gould Craig Chief Executive Officer | September 4, 2026 | Buy | 3,000 | $1.30 | $3,900 |
| Shane David M. Chief Financial Officer | May 19, 2026 | Buy | 3,000 | $1.66 | $4,980 |
| Gould Craig Chief Executive Officer | May 19, 2026 | Buy | 3,000 | $1.68 | $5,040 |
| Gould Craig Chief Executive Officer | November 17, 2025 | Buy | 5,000 | $1.55 | $7,750 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Next expected around November 12, 2026 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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