Westwood Holdings Group Inc is a US-listed company in the asset management & custody banks industry. Its financial year ends in December.
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 $102m, up 23.7% on a year earlier, slower than the 33.1% growth a quarter earlier. The diluted share count is up 2.9% on a year earlier, which dilutes existing holders.
Our model value for Westwood Holdings Group is under review, so past values are not shown until it is resolved.
Source: 10-Q filed August 6, 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.
Westwood Holdings Group Inc's trailing-twelve-month revenue grew 23.7% year on year, with a free-cash-flow margin of 18.4%.
Current signal Revenue growth decelerating: TTM revenue growth slowed to 23.7% (-9.5pp vs the prior quarter), the 2nd consecutive quarterly slowdown.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
No model value for Westwood Holdings Group Inc at the moment. Current status: data-quality checks not passed. Available reported financials are shown below.
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
We value Westwood Holdings Group Inc as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 8%: the 10-year Treasury yield (4.9%) plus a beta of 0.67 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. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. | ~$21 ~$23–$58 | Included |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Westwood Holdings Group Inc with asset managers 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.
Weak moat
How hard Westwood Holdings Group's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
Net income has been a median 6.0% of total assets over 10 years.
Operating margin has been a median 3.5%; its worst year was -1.6%.
The diluted share count rose 14.7% over five years; stock-based pay has been a median 7.8% of revenue.
AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (41 before it).
Next results: November 5, 2026, after the close.
No analyst estimates are published for Westwood Holdings Group Inc: too few analysts cover it.
Last 12 months +15.6%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $82m | $102m | +23.7% |
| P/S multiple | 1.7x | 1.7x | −3.8% |
| Share count | 9m | 9m | −2.8% |
Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.
Last 3 years +93.8%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $73m | $102m | +39.2% |
| Net margin | 13.4% | 7.8% | −41.7% |
| P/E multiple | 7.8x | 21.3x | +172.8% |
| Share count | 8m | 9m | −12.4% |
Biggest factor: p/e multiple.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| WHG | +32% | −31% | +19% | +21% | +23% | +12% |
| Industry peers (median) | +33% | −17% | +19% | +15% | −4% | −6% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| WHG | 50% | 42% | 50% | 67% | 83% | 55% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| WHG | −33% | −50% | −35% | −16% | −16% | −19% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since October 29, 2015: 84% from October 20, 2017 to October 30, 2020. Getting back needed a 515% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 6, 2026 | +3.8% | +0.5% | +0.6% | −0.8% |
| April 30, 2026 | −4.5% | +1.3% | −2.2% | −3.5% |
| February 13, 2026 | −6.3% | +0.2% | −8.6% | −12.5% |
| October 30, 2025 | +3.0% | −0.8% | +3.2% | +2.6% |
| August 8, 2025 | −0.4% | +0.6% | +2.7% | 0.0% |
| April 30, 2025 | −3.5% | +0.7% | −6.9% | −11.8% |
| February 12, 2025 | +9.5% | +0.7% | +11.7% | +2.7% |
| October 30, 2024 | −0.1% | −2.3% | −1.8% | +1.1% |
| July 31, 2024 | −1.1% | +0.2% | −4.7% | −1.4% |
| May 1, 2024 | +0.8% | +0.6% | −3.2% | −2.4% |
| February 14, 2024 | +4.1% | +1.6% | +1.1% | +8.9% |
| October 31, 2023 | +1.9% | +1.7% | +20.2% | +21.9% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q3 | $73.1M |
| FY23 Q4 | $73.1M |
| FY24 Q1 | $72M |
| FY24 Q2 | $70.1M |
| FY24 Q3 | $67.6M |
| FY24 Q4 | $68.7M |
| FY25 Q1 | $74.7M |
| FY25 Q2 | $82.2M |
| FY25 Q3 | $91.1M |
| FY25 Q4 | $97.8M |
| FY26 Q1 | $99.5M |
| FY26 Q2 | $101.7M |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY23 Q3 | 0.0% |
| FY23 Q4 | 0.0% |
| FY24 Q1 | -1.5% |
| FY24 Q2 | -4.1% |
| FY24 Q3 | -7.4% |
| FY24 Q4 | -6.0% |
| FY25 Q1 | 3.8% |
| FY25 Q2 | 17.4% |
| FY25 Q3 | 34.8% |
| FY25 Q4 | 42.3% |
| FY26 Q1 | 33.1% |
| FY26 Q2 | 23.7% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY23 Q3 | -0.9% |
| FY23 Q4 | 8.2% |
| FY24 Q1 | 11.1% |
| FY24 Q2 | 0.2% |
| FY24 Q3 | 1.6% |
| FY24 Q4 | 1.2% |
| FY25 Q1 | -2.9% |
| FY25 Q2 | 3.5% |
| FY25 Q3 | 5.9% |
| FY25 Q4 | 5.1% |
| FY26 Q1 | 3.6% |
| FY26 Q2 | 4.7% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY23 Q3 | 41.3% |
| FY23 Q4 | -1.8% |
| FY24 Q1 | 14.0% |
| FY24 Q2 | 20.4% |
| FY24 Q3 | 24.6% |
| FY24 Q4 | 30.6% |
| FY25 Q1 | 10.7% |
| FY25 Q2 | 14.3% |
| FY25 Q3 | 21.6% |
| FY25 Q4 | 19.3% |
| FY26 Q1 | 21.0% |
| FY26 Q2 | 18.4% |
| Fiscal year | 2009 Dec 2009 | 2010 Dec 2010 | 2011 Dec 2011 | 2012 Dec 2012 | 2013 Dec 2013 | 2014 Dec 2014 | 2015 Dec 2015 | 2016 Dec 2016 | 2017 Dec 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | ||||||||||||||||||
| Revenue | 43 | 55 | 69 | 77 | 92 | 113 | 131 | 123 | 134 | 122 | 84 | 65 | 73 | 69 | 90 | 95 | 98 | 102 |
| EBITDA | — | — | — | — | — | — | — | 37 | 37 | 38 | 7 | −1 | 8 | −2 | 7 | 1 | 5 | 5 |
| Operating income | — | — | — | — | — | — | — | 34 | 34 | 36 | 5 | −3 | 6 | −5 | 6 | 1 | 5 | 5 |
| Net income | 8 | 11 | 15 | 12 | 18 | 27 | 27 | 23 | 20 | 27 | 6 | −9 | 10 | −5 | 11 | 2 | 7 | 8 |
| Diluted EPS | $1.09 | $1.58 | $2.04 | $1.65 | $2.32 | $3.45 | $3.33 | $2.77 | $2.38 | $3.13 | $0.70 | −$1.12 | $1.23 | −$0.59 | $1.17 | $0.26 | $0.79 | $0.88 |
| Growth (year on year) | ||||||||||||||||||
| Revenue | — | +30.0% | +24.6% | +12.5% | +18.5% | +23.3% | +15.6% | −6.0% | +8.7% | −8.6% | −31.3% | −22.6% | +12.2% | −6.0% | +30.7% | +5.5% | +3.2% | +23.7% |
| EBITDA | — | — | — | — | — | — | — | — | −0.4% | +4.5% | −81.1% | −111.1% | — | −127.5% | — | −78.5% | — | +52.1% |
| Operating income | — | — | — | — | — | — | — | — | −0.3% | +6.0% | −87.1% | −174.2% | — | −181.8% | — | −86.2% | — | +65.4% |
| Net income | — | +42.9% | +30.2% | −17.7% | +47.6% | +52.8% | −0.5% | −16.4% | −11.7% | +33.8% | −77.9% | −251.4% | — | −147.4% | — | −79.1% | +220.1% | — |
| Diluted EPS | — | +45.0% | +29.1% | −19.1% | +40.6% | +48.7% | −3.5% | −16.8% | −14.1% | +31.5% | −77.6% | −260.0% | — | −148.0% | — | −77.8% | +203.8% | — |
| Margins | ||||||||||||||||||
| EBITDA margin | — | — | — | — | — | — | — | 30.0% | 27.5% | 31.5% | 8.6% | −1.2% | 11.4% | −3.3% | 7.4% | 1.5% | 5.6% | 5.1% |
| Operating margin | — | — | — | — | — | — | — | 27.6% | 25.3% | 29.4% | 5.5% | −5.3% | 8.2% | −7.1% | 6.7% | 0.9% | 5.1% | 4.7% |
| Net margin | 18.6% | 20.4% | 21.3% | 15.6% | 19.4% | 24.1% | 20.7% | 18.4% | 14.9% | 21.9% | 7.0% | −13.7% | 13.4% | −6.7% | 11.8% | 2.3% | 7.2% | 7.8% |
| Free-cash-flow margin | 24.7% | 33.0% | 24.8% | 17.4% | 22.3% | 23.0% | 41.5% | 37.0% | 35.2% | 24.9% | 37.6% | −15.1% | 26.3% | 74.5% | −1.5% | 22.2% | 19.3% | 18.4% |
| Cash flow | ||||||||||||||||||
| Cash from operations | 11 | 18 | 19 | 14 | 22 | 27 | 55 | 47 | 48 | 31 | 32 | −10 | 19 | 51 | −1 | 21 | 19 | 20 |
| Capital spending | 0 | 0 | 1 | 0 | 1 | 0 | 1 | 2 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Free cash flow | 11 | 18 | 17 | 14 | 21 | 26 | 54 | 46 | 47 | 30 | 32 | −10 | 19 | 51 | −1 | 21 | 19 | 19 |
| Stock-based pay | 8 | 9 | 10 | 11 | 12 | 14 | 18 | 16 | 16 | 15 | 10 | 7 | 6 | 6 | 7 | 6 | 5 | 5 |
| Free cash flow after stock pay | 3 | 9 | 7 | 3 | 9 | 12 | 37 | 30 | 31 | 15 | 21 | −17 | 13 | 45 | −8 | 15 | 14 | 14 |
| Balance sheet | ||||||||||||||||||
| Cash | 3 | 2 | 5 | 4 | 11 | 18 | 23 | 34 | 54 | 52 | 50 | 13 | 15 | 24 | 20 | 19 | 26 | 23 |
| Total debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net debt (negative = net cash) | −3 | −2 | −5 | −4 | −11 | −18 | −23 | −34 | −54 | −52 | −50 | −13 | −15 | −24 | −20 | −19 | −26 | −23 |
| Diluted shares | — | 7m | 7m | 7m | 8m | 8m | 8m | 8m | 8m | 9m | 8m | 8m | 8m | 8m | 8m | 9m | 9m | 9m |
| Returned to shareholders | ||||||||||||||||||
| Dividends | 9 | 12 | 8 | 14 | 9 | 14 | 17 | 19 | 22 | 25 | 26 | 11 | 23 | 6 | 6 | 5 | 5 | 5 |
| Buybacks | 3 | 3 | 6 | 4 | 1 | 0 | 0 | 6 | 0 | 4 | 2 | 13 | 3 | 3 | 0 | 1 | 0 | — |
| Total returned | 11 | 15 | 14 | 18 | 10 | 14 | 17 | 25 | 22 | 29 | 29 | 24 | 26 | 8 | 6 | 7 | 5 | 5 |
| 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 | 15 | 20 | 23 | 23 | 24 | 27 | 25 | 25 |
| EBITDA | −0 | 3 | 0 | 1 | 2 | 2 | −1 | 2 |
| Operating income | −0 | 3 | −0 | 1 | 2 | 2 | −1 | 2 |
| Net income | −1 | −3 | 0 | 1 | 4 | 2 | 1 | 2 |
| Diluted EPS | −$0.15 | −$0.40 | $0.05 | $0.12 | $0.41 | $0.20 | $0.09 | $0.17 |
| Growth (year on year) | ||||||||
| Revenue | −13.7% | +5.5% | +35.1% | +48.2% | +57.7% | +32.5% | +7.4% | +9.6% |
| EBITDA | — | −10.1% | −97.9% | — | — | −15.2% | — | +116.5% |
| Operating income | — | −9.9% | −102.3% | — | — | −15.5% | — | +137.8% |
| Net income | −162.5% | −211.1% | — | — | — | — | +63.9% | +48.1% |
| Diluted EPS | −162.5% | −211.1% | — | — | — | — | +80.0% | +41.7% |
| Margins | ||||||||
| EBITDA margin | −2.3% | 13.2% | 0.3% | 4.3% | 8.8% | 8.4% | −5.6% | 8.5% |
| Operating margin | −3.2% | 12.5% | −0.3% | 3.8% | 8.3% | 8.0% | −6.0% | 8.1% |
| Net margin | −7.6% | −15.3% | 2.1% | 4.5% | 15.4% | 6.9% | 3.1% | 6.0% |
| Free-cash-flow margin | 3.4% | 43.2% | −21.1% | 31.6% | 34.8% | 29.4% | −11.3% | 19.9% |
| Cash flow | ||||||||
| Cash from operations | 1 | 9 | −5 | 7 | 9 | 8 | −3 | 6 |
| Capital spending | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Free cash flow | 1 | 9 | −5 | 7 | 8 | 8 | −3 | 5 |
| Stock-based pay | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Free cash flow after stock pay | −1 | 8 | −6 | 6 | 7 | 7 | −4 | 4 |
| Last 12 months unless stated | WHG | SAMG | VINP | ABX | ALTI | SII | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $102m | $127m | $175m | $267m | $277m | $285m | $842m |
| Revenue growth, last 12 months | 23.7% | 1.2% | 56.3% | 65.3% | 30.0% | 59.6% | 20.4% |
| Revenue growth, 3-year average | 11.7% | 2.6% | — | 77.1% | 23.4% | — | 10.7% |
| Revenue growth, latest quarter | 9.6% | 4.5% | — | 29.9% | 10.8% | — | 14.4% |
| Operating margin | 4.7% | 2.5% | 25.8% | 31.8% | −22.2% | — | 24.7% |
| Operating margin, 3-year average | 2.8% | 8.2% | — | 23.6% | −29.2% | — | 18.5% |
| Net margin | 7.8% | 0.7% | 22.3% | 10.5% | −40.9% | 23.6% | 15.0% |
| Cash from operations / revenue | 19.2% | 8.4% | 28.0% | 34.0% | 0.6% | 34.3% | 26.3% |
| Free-cash-flow margin | 18.4% | 4.4% | 23.9% | 33.5% | 0.3% | 33.6% | 21.3% |
| Free-cash-flow margin, 3-year average | 17.7% | 11.3% | — | −47.5% | −18.3% | — | 17.7% |
| Stock pay / revenue | 5.0% | 1.8% | 3.1% | 8.6% | 12.8% | 0.0% | 4.0% |
| Change in share count | 2.9% | −14.4% | 19.0% | 15.0% | — | −0.2% | −0.2% |
| Line of business | Revenue | Share | YoY |
|---|---|---|---|
| Total Reporting | $106M | 108.5% | ▲ 5.2% |
| Advisory (part of Total Reporting) | $84.1M | 79.3% | ▲ 6.8% |
| Trust (part of Total Reporting) | $22M | 20.7% | ▼ 0.5% |
| Other Reporting | -$8.3M | -8.5% | — |
| Line of business | Revenue | YoY |
|---|---|---|
| Asset Management1 | $74.7M | ▲ 7.1% |
| Investment Advisory Services | $74.7M | ▲ 7.1% |
| Fiduciary and Trust | $21.6M | ▲ 0.6% |
| Trust Fee | $21.6M | ▲ 0.6% |
| Performancefee | $1.1M | ▼ 39.5% |
| Investment Performance | $874,000 | ▼ 37.3% |
| Other Revenue Misc Services | $346,000 | ▼ 79.3% |
| Trust Performance Based Fees | $260,000 | ▼ 46.1% |
These categories overlap or exclude eliminations, so shares aren't shown.
| Region | Revenue | Share | YoY |
|---|---|---|---|
| United States | $97M | 99.2% | ▲ 3.5% |
| Canada | $791,000 | 0.8% | ▼ 22.2% |
From Westwood Holdings Group Inc's 10-K filed March 4, 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 |
|---|---|---|---|---|
| Allspring Global Investments Holdings, LLC | $11.4M | 593K | 10.9% | ▼ 3.4% |
| Blackrock, Inc. | $11.2M | 582K | 10.7% | ▲ 14.3% |
| Westwood Holdings Group Inc | $9.9M | 519K | 9.5% | ▲ 16.8% |
| Settian Capital LP | $9M | 471K | 8.6% | 0.0% |
| GAMCO Investors, Inc. Et Al | $8.5M | 444K | 8.1% | 0.0% |
| North Star Investment Management Corp. | $7.4M | 388K | 7.1% | ▲ 1.8% |
| Renaissance Technologies LLC | $6.3M | 329K | 6.0% | ▼ 6.3% |
| Vanguard Capital Management LLC | $6.3M | 327K | 6.0% | ▲ 2.0% |
| Dimensional Fund Advisors LP | $5.5M | 284K | 5.2% | ▲ 1.7% |
| King Luther Capital Management Corp | $3.5M | 185K | 3.4% | 0.0% |
| Geode Capital Management, LLC | $3.3M | 172K | 3.2% | ▲ 7.6% |
| Aegis Financial Corp | $1.9M | 100K | 1.8% | 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 Westwood Holdings Group Inc's complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Byrne Susan M 10% owner | July 2, 2026 | Sell pre-set plan | 4,481 | $19.88 | $89,082 |
| Byrne Susan M 10% owner | July 1, 2026 | Sell pre-set plan | 3,584 | $19.35 | $69,350 |
| Byrne Susan M 10% owner | June 30, 2026 | Sell pre-set plan | 1,091 | $19.17 | $20,914 |
| Byrne Susan M 10% owner | June 30, 2026 | Sell pre-set plan | 1,091 | $19.17 | $20,914 |
| Byrne Susan M 10% owner | June 29, 2026 | Sell pre-set plan | 7,192 | $20.03 | $144,056 |
| Byrne Susan M 10% owner | June 29, 2026 | Sell pre-set plan | 7,129 | $20.03 | $142,794 |
| Byrne Susan M 10% owner | June 26, 2026 | Sell pre-set plan | 4,274 | $19.39 | $82,873 |
| Byrne Susan M 10% owner | June 26, 2026 | Sell pre-set plan | 4,274 | $19.39 | $82,873 |
| Byrne Susan M 10% owner | June 25, 2026 | Sell pre-set plan | 500 | $18.21 | $9,105 |
| Byrne Susan M 10% owner | June 24, 2026 | Sell pre-set plan | 1,300 | $18.32 | $23,816 |
| Byrne Susan M 10% owner | June 23, 2026 | Sell pre-set plan | 2,500 | $18.45 | $46,125 |
| Byrne Susan M 10% owner | June 22, 2026 | Sell pre-set plan | 1,000 | $18.31 | $18,310 |
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 October 29, 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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