Horizon Kinetics Asset Management LLC
Horizon Kinetics Holding Corporation ( Horizon Kinetics or the Company ), through its wholly-owned registered investment advisor, Horizon Kinetics Asset Management LLC, is an investment advisory and independent research firm. It was founded on the belief that a short-term investment approach, widely adopted with the modernization of financial markets, ultimately produces sub-optimal returns.
$20.20
+$0.00 (+0.00%)
Price from 2 days ago
15.21% operating margin is respectable but not wide. ROIC at 2.52%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue up 30.5% YoY with margins expanding 42.2pp. However, free cash flow softened 468%, worth monitoring whether this is timing or structural.
Free cash flow declined 468% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$43M. The business is consuming cash, not generating it.
8.1x earnings. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$72M
▲ +30.5% YoY
Net Income (TTM)
$47M
▼ -94.5% YoY
Op. Margin
6.01%
▲ +42.2pp YoY
ROIC
0.89%
▲ +9.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$30M
▼ -468.0% YoY
Op. Cash Flow (TTM)
-$30M
▼ -463.9% YoY
Net Debt
-$8M
Net Cash Position
Cash & Equiv.
$34M
5Y CAGR: +20.3%
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SourceComputed from the 10-Q filed 11 Aug 2026, covering the period ending 30 Jun 2026, as reported to the SEC. Data last refreshed 12 Oct 2026. How this is calculated.
Price from market data, last close as of 21 Oct 2026. Fiscal year ends Dec. Sector medians are approximate S&P 500 benchmarks and update periodically.
Is Horizon Kinetics Asset Management (HKHC) overvalued?
At a P/E of 8.1, Horizon Kinetics Asset Management (HKHC)'s valuation is best read against its own history, its peers, and the growth its price implies. A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Horizon Kinetics Asset Management scores 50/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 2.1%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
Is Horizon Kinetics Asset Management a high-quality business?+
Horizon Kinetics Asset Management scores 50 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 6.0% operating margin and a 0.9% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does Horizon Kinetics Asset Management (HKHC) pay a dividend, and how much?+
Yes, Horizon Kinetics Asset Management pays a regular dividend of about $0.43 per share per year (typically in quarterly installments), a yield of roughly 2.1% at the current price. That is a payout ratio of about 16.9% of earnings, so the dividend is amply covered by earnings. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For HKHC's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is Horizon Kinetics Asset Management a good stock to buy right now?+
That depends on valuation and quality together, not either alone. you should weigh HKHC's valuation and scores 50/100 on quality (mixed). It also yields about 2.1%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.
Related stocks: Investment Advice
Spot a number that looks wrong? Check it in HKHC's SEC filings or
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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