What is HORIZON KINETICS HOLDING's earnings per share (EPS)?

HORIZON KINETICS HOLDING (HKHC) reported diluted earnings per share of $0.27 for fiscal year 2025. This represents a -94.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

HORIZON KINETICS HOLDING (HKHC) Financials

HKHC

FY2025 annual

Revenue $72.8M +30.5% YoY

Net Income $5.1M -94.5% YoY

EPS (Diluted) $0.27 -94.7% YoY

Free Cash Flow -$43.4M -468.0% YoY

Market Cap $492.9M as of Sep 16, 2026

Price / Sales 6.8x on $72.3M revenue, trailing 12 months to June 30, 2026

Price / Earnings 10.5x on $46.9M net income, trailing 12 months to June 30, 2026

Price / Book 1.3x on $388.5M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 16, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 13, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HKHC SEC filings page.

HORIZON KINETICS HOLDING (HKHC) reported $72.8M in revenue for fiscal year 2025, up 30.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI HKHC FY2025 2026-08-29

Balance-sheet-heavy financing now dominates a business that shifted from asset expansion and accounting gains to operating profit, but cash conversion reversed sharply in FY2025.

Cash conversion broke in FY2025: operating cash flow flipped from positive in FY2024 to -$43.1M while operating income reached $11.1M, separating accounting profit from cash generation. That reversal is more informative than the margin improvement because the reported earnings were not accompanied by cash realization.

The company is balance-sheet-heavy: FY2025 assets were $2.0B against liabilities of $1.66B, leaving a relatively thin equity layer for the asset base. Debt-to-equity of 4.9x reinforces that leverage, making capital structure more informative than revenue margins.

Operating margin swung from -27.0% in FY2024 to 15.2% in FY2025, indicating a sharp change in operating economics rather than a steady scale effect. Yet FY2025 net margin was only 7.0%, showing that items below operating income still absorbed much of the operating result.

Financial Health Signals

Financial health score not available

HORIZON KINETICS HOLDING does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

3/6

HORIZON KINETICS HOLDING passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality No Cash Backing

$8.41used

For every $1 of reported earnings, HORIZON KINETICS HOLDING used $8.41 of operating cash (-$43.1M OCF vs $5.1M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.

Key Financial Metrics

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Earnings & Revenue

Revenue

$19.0M

YoY+0.7%

QoQ+4.1%

HORIZON KINETICS HOLDING generated $19.0M in revenue in Q2 2026. This represents an increase of 0.7% from the same quarter a year earlier. Against the prior quarter it is up 4.1%.

EBITDA

$3.2M

YoY-19.8%

QoQ+176.4%

HORIZON KINETICS HOLDING's EBITDA was $3.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 19.8% from the same quarter a year earlier. Against the prior quarter it is up 176.4%.

Net Income

-$18.4M

YoY-75.2%

QoQ-125.3%

HORIZON KINETICS HOLDING reported -$18.4M in net income in Q2 2026. This represents a decrease of 75.2% from the same quarter a year earlier. Against the prior quarter it is down 125.3%.

EPS (Diluted)

-$0.99

YoY-76.8%

QoQ-125.4%

HORIZON KINETICS HOLDING earned -$0.99 per diluted share (EPS) in Q2 2026. This represents a decrease of 76.8% from the same quarter a year earlier. Against the prior quarter it is down 125.4%.

Cash & Balance Sheet

Free Cash Flow

-$2.6M

YoY+66.3%

QoQ+64.1%

HORIZON KINETICS HOLDING recorded an outflow of $2.6M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 66.3% from the same quarter a year earlier. Against the prior quarter it is up 64.1%.

Cash & Debt

$34.3M

YoY-11.8%

QoQ-6.7%

5Y CAGR+343.4%

10Y CAGR+27.8%

HORIZON KINETICS HOLDING held $34.3M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

19M

YoY0.0%

QoQ0.0%

5Y CAGR+8.1%

10Y CAGR+4.7%

HORIZON KINETICS HOLDING had 19M shares outstanding in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Operating Margin

15.6%

YoY-3.8pp

QoQ+39.3pp

HORIZON KINETICS HOLDING's operating margin was 15.6% in Q2 2026, reflecting core business profitability. This is down 3.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 39.3 percentage points.

Net Margin

-96.5%

YoY-41.0pp

HORIZON KINETICS HOLDING's net profit margin was -96.5% in Q2 2026, showing the share of revenue converted to profit. This is down 41.0 percentage points from the same quarter a year earlier.

Return on Equity

-4.7%

YoY-1.7pp

QoQ-22.4pp

HORIZON KINETICS HOLDING's ROE was -4.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 22.4 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

Capital Expenditures

$597K

QoQ-0.3%

HORIZON KINETICS HOLDING invested $597K in capex in Q2 2026, funding long-term assets and infrastructure. Against the prior quarter it is down 0.3%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

HKHC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

HKHC quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$72.3M	$72.8M+30.5%	$55.8M+18.1%	$47.3M+1486.0%	$3.0M-90.0%	$29.7M+2.7%	$29.0M+1.8%	$28.4M-23.2%	$37.1M-12.2%	$42.2M+19.7%	$35.2M+20.7%	$29.2M+19.9%	$24.3M+26.2%	$19.3M+20.3%	$16.0M+2.7%	$15.6M
Cost of Revenue	N/A	N/A	N/A	$2.0M+21.7%	$1.6M-90.7%	$17.2M-0.6%	$17.3M-1.9%	$17.6M-15.4%	$20.8M-8.6%	$22.8M+13.9%	$20.0M+19.2%	$16.8M+22.8%	$13.7M+30.8%	$10.5M+15.4%	$9.1M+6.1%	$8.6M
Gross Profit	N/A	N/A	N/A	$1.4M+5.4%	$1.4M-89.0%	$12.5M+7.6%	$11.6M+7.8%	$10.8M-33.3%	$16.2M-16.3%	$19.4M+27.5%	$15.2M+22.7%	$12.4M+16.2%	$10.7M+20.7%	$8.8M+26.6%	$7.0M-1.4%	$7.1M
SG&A Expenses	$2.8M	$2.7M+18.2%	$2.3M+39.4%	$1.7M-45.6%	$3.1M-33.7%	$4.6M-2.4%	$4.7M+5.3%	$4.5M+0.5%	$4.5M+3.5%	$4.3M-5.6%	$4.6M+40.3%	$3.3M+13.3%	$2.9M+3.4%	$2.8M-0.4%	$2.8M+20.5%	$2.3M
Operating Income	$4.3M	$11.1M+173.6%	-$15.1M-745.1%	-$1.8M+82.0%	-$9.9M-51.9%	-$6.5M-168.0%	-$2.4M-80.2%	-$1.4M-146.4%	$2.9M-61.8%	$7.6M+137.2%	$3.2M+41.1%	$2.3M+7.7%	$2.1M+169.6%	$784K+159.5%	-$1.3M-137.1%	-$556K
EBITDA	N/A	$12.2M+192.8%	-$13.1M-28667.4%	$46K+100.5%	-$9.3M-97.5%	-$4.7M-368.2%	-$1.0M-81.1%	-$555K-114.9%	$3.7M-55.7%	$8.4M+129.4%	$3.7M+50.6%	$2.4M+6.6%	$2.3M+148.9%	$919K+202.4%	-$897K-1580.3%	-$53K
Interest Expense	N/A	N/A	N/A	$145K+2.8%	$141K-58.7%	$341K+57.9%	$216K+881.8%	$22K-73.2%	$82K-39.7%	$136K+9.0%	$125K+325.9%	$29K+0.3%	$29K-63.5%	$80K-72.8%	$295K+24.1%	$237K
Income Tax	-$6.3M	-$23.2M-122.2%	$104.4M+85658.2%	-$122K-293.7%	$63K-94.2%	$1.1M+252.6%	-$707K-37.8%	-$513K-182.9%	$619K-78.1%	$2.8M+126.5%	$1.2M+149.8%	-$2.5M-5805.0%	$44K-53.4%	$94K	$0	$0
Net Income	$46.9M	$5.1M-94.5%	$92.5M+2158.6%	-$4.5M+49.2%	-$8.9M+20.2%	-$11.1M-615.1%	-$1.6M-136.1%	-$657K-129.5%	$2.2M-52.2%	$4.7M+151.4%	$1.9M-61.2%	$4.8M+128.3%	$2.1M+225.1%	$644K+146.9%	-$1.4M-116.4%	-$634K
EPS (Basic)	N/A	$0.27-94.7%	$5.07+2128.0%	-$0.25+64.3%	-$0.70+20.5%	-$0.88-633.3%	-$0.12-140.0%	-$0.05-127.8%	$0.18-53.8%	$0.39+143.8%	$0.16-61.0%	$0.41+127.8%	$0.18+200.0%	$0.06+146.2%	-$0.13-116.7%	-$0.06
EPS (Diluted)	$2.51	$0.27-94.7%	$5.07+2128.0%	-$0.25+64.3%	-$0.70+20.5%	-$0.88-633.3%	-$0.12-140.0%	-$0.05-127.8%	$0.18-52.6%	$0.38+153.3%	$0.15-62.5%	$0.40+122.2%	$0.18+200.0%	$0.06+146.2%	-$0.13-116.7%	-$0.06
Diluted Shares (Avg)	N/A	19M+2.1%	18M+1.5%	18M+41.0%	13M+0.6%	13M+0.3%	13M+1.6%	12M-1.1%	13M+2.6%	12M+2.5%	12M+0.5%	12M+1.1%	12M+3.8%	11M+3.8%	11M+0.3%	11M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$19.0M+0.7%	$18.3M-3.8%	$17.0M-11.2%	$17.9M+37.0%	$18.9M+65.2%	$19.0M+56.8%	$19.2M-43.2%	$13.1M+10.9%
SG&A Expenses	$692K+218.9%	$723K-34.0%	$664K0.0%	$766K+29.8%	$217K-56.7%	$1.1M+94.1%	$664K+2271.4%	$590K+53.2%
Operating Income	$3.0M-18.9%	-$4.3M-352.0%	$2.8M+120.6%	$2.9M+419.8%	$3.7M+650.1%	$1.7M+2521.1%	-$13.4M-3426.8%	-$922K-408.4%
EBITDA	$3.2M-19.8%	-$4.1M-291.7%	$3.0M+123.0%	$3.1M+774.1%	$3.9M+2011.7%	$2.2M+454.2%	-$12.9M-1767.6%	-$467K-162.1%
Income Tax	-$6.6M-72.2%	$30.1M+190.4%	-$19.4M-157.7%	-$10.4M-115.0%	-$3.8M-1741.5%	$10.4M+733.7%	$33.6M+13176.7%	$69.3M+52002.3%
Net Income	-$18.4M-75.2%	$72.5M+217.6%	-$14.5M-119.1%	$7.2M+119.0%	-$10.5M-174.7%	$22.8M-44.1%	$75.8M+3019.0%	-$38.2M-249.8%
EPS (Basic)	-$0.99-76.8%	$3.89+216.3%	-$0.78-118.8%	$0.39+118.8%	-$0.56-171.8%	$1.23-45.8%	$4.15+3092.3%	-$2.07-245.8%
EPS (Diluted)	-$0.99-76.8%	$3.89+216.3%	-$0.78-118.8%	$0.39+118.8%	-$0.56-171.8%	$1.23-45.8%	$4.15+3092.3%	-$2.07-245.8%
Diluted Shares (Avg)	19M0.0%	19M0.0%	N/A	19M+1.2%	19M+3.6%	19M+3.6%	N/A	18M+2.4%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Interest Expense.

HKHC Balance Sheet

HKHC quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$2.0B-1.5%	$2.0B+81.7%	$1.1B+10301.8%	$10.7M-48.6%	$20.9M-37.8%	$33.6M+28.6%	$26.1M-1.5%	$26.5M+4.6%	$25.3M+15.9%	$21.8M+35.3%	$16.1M+54.8%	$10.4M+24.8%	$8.4M-34.7%	$12.8M-7.8%	$13.9M
Current Assets	N/A	N/A	$5.0M-33.1%	$7.4M-29.4%	$10.5M+7.5%	$9.7M-26.6%	$13.3M-27.1%	$18.2M+11.9%	$16.3M+41.4%	$11.5M-12.1%	$13.1M+31.4%	$10.0M+28.1%	$7.8M+133.3%	$3.3M+5.1%	$3.2M
Cash & Equivalents	$36.9M+155.3%	$14.4M+37.9%	$10.5M+21281.6%	$49K-96.1%	$1.3M+25300.0%	$5K-99.5%	$1.1M-82.4%	$6.2M+51.5%	$4.1M+96.2%	$2.1M-70.7%	$7.2M+21.5%	$5.9M+88.6%	$3.1M+1131.3%	$254K-55.9%	$576K
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	N/A	N/A	$365K-52.9%	$775K-84.3%	$4.9M+23.8%	$4.0M-49.1%	$7.8M+0.3%	$7.8M-11.0%	$8.8M+55.8%	$5.6M+20.1%	$4.7M+74.7%	$2.7M-16.2%	$3.2M+62.5%	$2.0M-2.1%	$2.0M
Accounts Receivable	$6.6M-21.2%	$8.3M+2617.9%	$307K-82.3%	$1.7M-50.8%	$3.5M-22.1%	$4.5M+67.4%	$2.7M-11.6%	$3.0M-1.8%	$3.1M-10.2%	$3.5M+240.6%	$1.0M-2.5%	$1.0M-11.9%	$1.2M+22.0%	$969K+116.4%	$448K
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$23.4M0.0%	$23.4M+21.3%	$19.3M	$0-100.0%	$1.7M-44.2%	$3.1M-5.2%	$3.2M+112.4%	$1.5M0.0%	$1.5M0.0%	$1.5M	$0	N/A	N/A	N/A	N/A
Total Liabilities	$1.7B-1.8%	$1.7B+86.1%	$907.1M+526.9%	-$212.5M-2377.8%	$9.3M-15.9%	$11.1M+348.3%	$2.5M+3.4%	$2.4M-41.9%	$4.1M-26.3%	$5.6M+173.2%	$2.0M+55.5%	$1.3M-9.1%	$1.4M-78.4%	$6.7M+3.6%	$6.5M
Current Liabilities	N/A	N/A	$854K-84.1%	$5.4M+15.7%	$4.6M+36.2%	$3.4M+40.5%	$2.4M+1.5%	$2.4M-36.3%	$3.8M+1.5%	$3.7M+81.0%	$2.0M+55.5%	$1.3M-9.1%	$1.4M-60.7%	$3.7M+18.9%	$3.1M
Non-Current Liabilities	N/A	N/A	$906.3M+516.0%	-$217.8M-4751.7%	$4.7M-39.0%	$7.7M+16595.7%	$46K	$0-100.0%	$362K-80.8%	$1.9M	$0	$0	$0-100.0%	$3.0M-10.5%	$3.4M
Long-Term Debt	N/A	N/A	N/A	$3.5M+86.8%	$1.9M-58.5%	$4.5M	$0	N/A	$362K-68.2%	$1.1M	$0	$0	$0-100.0%	$3.0M-10.5%	$3.4M
Total Equity	$339.0M-0.4%	$340.2M+62.7%	$209.1M-6.3%	$223.2M+1834.0%	$11.5M-48.6%	$22.5M-4.9%	$23.6M-1.9%	$24.1M+13.7%	$21.2M+30.4%	$16.2M+15.2%	$14.1M+54.7%	$9.1M+31.9%	$6.9M+13.2%	$6.1M-17.7%	$7.4M
Retained Earnings	$297.8M-0.4%	$299.1M+44.3%	$207.3M+3353.1%	-$6.4M-357.0%	$2.5M-81.7%	$13.6M-10.3%	$15.1M-4.2%	$15.8M+16.4%	$13.6M+52.4%	$8.9M+26.6%	$7.0M+213.0%	$2.2M+1392.8%	$150K+130.4%	-$494K-156.2%	$878K

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$1.9B-5.6%	$2.2B+7.8%	$2.0B-1.5%	$2.2B+34.4%	$2.1B+39126.9%	$2.1B+36185.9%	$2.0B+81.7%	$1.6B+17398.1%
Cash & Equivalents	$34.3M-11.8%	$36.7M+5.4%	$36.9M+155.3%	$37.7M+108.7%	$38.9M+1232.4%	$34.9M+1052.0%	$14.4M+37.9%	$18.1M+309.3%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$6.8M-7.0%	$8.2M+9.3%	$6.6M-21.2%	$6.8M+29.7%	$7.3M+2713.8%	$7.5M+2004.5%	$8.3M+2617.9%	$5.3M+385.2%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$23.4M-0.6%	$23.4M-4.3%	$23.4M0.0%	$23.4M-4.3%	$23.5M+356.7%	$24.4M	$23.4M+21.3%	$24.4M
Total Liabilities	$1.6B-9.1%	$1.8B+6.6%	$1.7B-1.8%	$1.8B+34.5%	$1.7B+760.0%	$1.7B+793.3%	$1.7B+86.1%	$1.4B+788.4%
Total Equity	$388.5M+11.2%	$409.2M+13.4%	$339.0M-0.4%	$355.4M+33.9%	$349.5M+32.3%	$361.0M+42.9%	$340.2M+62.7%	$265.4M+28.4%
Retained Earnings	$347.4M+12.6%	$368.1M+15.1%	$297.8M-0.4%	$314.3M+40.1%	$308.4M+4547.3%	$319.9M+5033.9%	$299.1M+44.3%	$224.3M+6580.6%

Not reported in any period shown, so not listed: Current Assets, Inventory, Current Liabilities, Non-Current Liabilities, Long-Term Debt.

HKHC Cash Flow Statement

HKHC quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$29.6M	-$43.1M-463.9%	$11.8M-53.5%	$25.5M+1477.8%	-$1.8M-474.2%	-$322K-109.0%	$3.6M+427.5%	$679K-78.0%	$3.1M-23.0%	$4.0M+166.1%	$1.5M+6.5%	$1.4M-49.1%	$2.8M+207.6%	-$2.6M-14555.9%	$18K-96.2%	$473K
Depreciation & Amortization	N/A	$1.1M-41.8%	$1.9M+5.0%	$1.8M+193.9%	$622K-65.8%	$1.8M+27.3%	$1.4M+79.6%	$796K-2.7%	$818K+2.3%	$800K+74.7%	$458K+184.8%	$161K-7.4%	$174K+28.6%	$135K-67.9%	$420K-16.3%	$502K
Stock-Based Compensation	N/A	N/A	N/A	$65K-50.0%	$130K+18.2%	$110K-66.9%	$332K+122.8%	$149K-34.4%	$227K-6.2%	$242K-2.7%	$249K+53.3%	$162K+143.2%	$67K+20.6%	$55K+3.2%	$54K-26.4%	$73K
Capital Expenditures	N/A	$315K+570.2%	$47K-50.5%	$95K	N/A	N/A	$17K-83.2%	$101K-54.5%	$222K-54.1%	$484K+70.7%	$284K+49.3%	$190K+233.3%	$57K-72.6%	$208K+577.5%	$31K-37.9%	$49K
Free Cash Flow	N/A	-$43.4M-468.0%	$11.8M-53.6%	$25.4M	N/A	N/A	$3.6M+516.8%	$578K-79.9%	$2.9M-18.7%	$3.5M+188.2%	$1.2M-0.2%	$1.2M-55.0%	$2.7M+197.6%	-$2.8M-21740.6%	-$13K-103.0%	$424K
Investing Cash Flow	$5.3M	$25.2M+1078.2%	$2.1M+173.8%	$782K+131.4%	$338K-92.3%	$4.4M+143.4%	-$10.1M-72.3%	-$5.9M-2539.6%	-$222K+54.1%	-$484K	N/A	N/A	N/A	$8.7M+212651.2%	-$4K+91.7%	-$49K
Financing Cash Flow	$24.7M	$41.5M+267.1%	-$24.8M-61.2%	-$15.4M-5407.9%	$290K+110.4%	-$2.8M-151.5%	$5.4M+12518.6%	$43K+105.7%	-$753K+50.3%	-$1.5M	N/A	N/A	N/A	-$3.3M-869.2%	-$336K-2.3%	-$328K
Dividends Paid	$7.9M	$6.3M+541.3%	$988K-89.7%	$9.6M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$2.0M+73.9%	-$6.8M+53.3%	-$2.8M-112.1%	-$17.9M-528.0%	-$7.8M+77.1%	-$14.5M-176.6%	$23.0M+1227.5%	$4.2M-81.6%
Depreciation & Amortization	$193K-31.1%	$198K-54.7%	$200K-63.3%	$199K-56.3%	$280K-39.0%	$437K-5.0%	$545K-52.6%	$455K+0.4%
Capital Expenditures	$597K	$599K	N/A	N/A	$0	$0	$4K	N/A
Free Cash Flow	-$2.6M+66.3%	-$7.4M+49.1%	N/A	N/A	-$7.8M	-$14.5M	$23.0M+1227.3%	N/A
Investing Cash Flow	$4.2M+1422.8%	-$338K-101.4%	$3.1M+799.1%	-$1.7M-161.3%	-$320K-627.3%	$24.1M+32693.2%	-$441K+29.3%	$2.7M+609.4%
Financing Cash Flow	-$7.8M-148.4%	$3.3M+183.5%	$20.0M+253.9%	$9.2M+2161.2%	$16.2M+758.9%	-$4.0M+59.1%	-$13.0M-99.1%	$407K+106.2%
Dividends Paid	$2.4M+126.7%	$2.3M+13.1%	$2.0M	$1.3M	$1.0M-56.1%	$2.0M+17.3%	N/A	N/A

Not reported in any period shown, so not listed: Stock-Based Compensation, Share Buybacks.

HKHC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

HKHC quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	N/A	N/A	3.1%-43.0pp	46.1%+3.9pp	42.1%+1.9pp	40.2%+2.2pp	38.0%-5.8pp	43.7%-2.2pp	45.9%+2.8pp	43.1%+0.7pp	42.4%-1.4pp	43.8%-2.0pp	45.7%+2.3pp	43.4%-1.8pp	45.2%
Operating Margin	15.2%+42.2pp	-27.0%-23.2pp	-3.8%	-332.7%	-21.9%-13.5pp	-8.4%-3.7pp	-4.8%-12.6pp	7.9%-10.2pp	18.1%+8.9pp	9.1%+1.3pp	7.8%-0.9pp	8.7%+4.6pp	4.1%+12.3pp	-8.2%-4.7pp	-3.6%
Net Margin	7.0%	165.7%	-9.5%	-297.0%	-37.3%-31.9pp	-5.4%-3.1pp	-2.3%-8.3pp	6.0%-5.0pp	11.1%+5.8pp	5.3%-11.1pp	16.4%+7.8pp	8.6%+5.3pp	3.3%+11.9pp	-8.6%-4.5pp	-4.1%
Return on Equity	1.5%-25.7pp	27.2%+29.3pp	-2.1%+1.8pp	-4.0%+92.1pp	-96.1%-89.2pp	-6.9%-4.1pp	-2.8%-12.0pp	9.3%-12.8pp	22.0%+10.6pp	11.4%-22.5pp	33.9%+10.9pp	23.0%+13.6pp	9.3%+31.8pp	-22.5%-13.9pp	-8.6%
Return on Assets	0.3%-4.3pp	4.6%+5.0pp	-0.4%+82.1pp	-82.5%-29.3pp	-53.1%-48.5pp	-4.6%-2.1pp	-2.5%-10.9pp	8.4%-10.0pp	18.4%+9.9pp	8.5%-21.1pp	29.6%+9.5pp	20.1%+12.4pp	7.7%+18.4pp	-10.7%-6.2pp	-4.6%
Current Ratio	N/A	N/A	5.80+4.4x	1.38-0.9x	2.26-0.6x	2.86-2.6x	5.47-2.1x	7.61+3.3x	4.33+1.2x	3.11-3.3x	6.40-1.2x	7.58+2.2x	5.38+4.5x	0.91-0.1x	1.03
Debt-to-Equity	4.89-0.1x	4.96+0.6x	4.34+4.3x	0.02-0.1x	0.160.0x	0.20+0.2x	0.00-0.1x	0.10+0.1x	0.02-0.1x	0.07+0.1x	0.000.0x	0.000.0x	0.00-0.5x	0.490.0x	0.45
Asset Turnover	0.040.0x	0.030.0x	0.04-0.2x	0.28-1.1x	1.43+0.6x	0.86-0.2x	1.09-0.3x	1.40-0.3x	1.67+0.1x	1.61-0.2x	1.81-0.5x	2.330.0x	2.31+1.1x	1.25+0.1x	1.13
FCF Margin	-59.6%-80.7pp	21.1%-32.6pp	53.7%	N/A	N/A	12.3%+10.3pp	2.0%-5.7pp	7.8%-0.6pp	8.4%+4.9pp	3.5%-0.7pp	4.2%-7.0pp	11.2%+25.7pp	-14.5%-14.4pp	-0.1%-2.8pp	2.7%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	15.6%-3.8pp	-23.7%-32.7pp	16.2%+86.1pp	16.5%+23.5pp	19.4%+25.2pp	9.0%+9.6pp	-69.9%-68.8pp	-7.1%-9.6pp
Net Margin	-96.5%-41.0pp	396.5%	-85.0%	40.4%	-55.5%	120.1%	395.1%	-292.3%
Return on Equity	-4.7%-1.7pp	17.7%+11.4pp	-4.3%-26.5pp	2.0%+16.4pp	-3.0%-8.3pp	6.3%-9.8pp	22.3%+21.1pp	-14.4%-26.7pp
Return on Assets	-0.9%-0.4pp	3.3%+2.2pp	-0.7%-4.5pp	0.3%+2.7pp	-0.5%-267.9pp	1.1%-713.9pp	3.7%+3.5pp	-2.4%-276.8pp
Debt-to-Equity	4.00-0.9x	4.46-0.3x	4.89-0.1x	5.140.0x	4.89	4.74	4.96+0.6x	5.12
Asset Turnover	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.01-2.2x	0.01-2.1x	0.010.0x	0.01-1.3x
FCF Margin	-13.9%+27.6pp	-40.3%+35.8pp	N/A	N/A	-41.5%	-76.1%	120.0%	N/A

Not reported in any period shown, so not listed: Gross Margin, Current Ratio.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
HORIZON KINETICS HOLDING HKHC	FY2025	$72.8M	$5.1M	7.0%	$492.9M	—
ENDI CORP ENDI	FY2023	$9.6M	$2.5M	26.4%	$105.9M	—

Where HORIZON KINETICS HOLDING Ranks

Frequently Asked Questions

What is HORIZON KINETICS HOLDING's annual revenue?

HORIZON KINETICS HOLDING (HKHC) reported $72.8M in total revenue for fiscal year 2025. This represents a 30.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is HORIZON KINETICS HOLDING's revenue growing?

HORIZON KINETICS HOLDING (HKHC) revenue grew by 30.5% year-over-year, from $55.8M to $72.8M in fiscal year 2025.

Is HORIZON KINETICS HOLDING profitable?

Yes, HORIZON KINETICS HOLDING (HKHC) reported a net income of $5.1M in fiscal year 2025, with a net profit margin of 7.0%.

What is HORIZON KINETICS HOLDING's EBITDA?

HORIZON KINETICS HOLDING (HKHC) had EBITDA of $12.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is HORIZON KINETICS HOLDING's operating margin?

HORIZON KINETICS HOLDING (HKHC) had an operating margin of 15.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is HORIZON KINETICS HOLDING's net profit margin?

HORIZON KINETICS HOLDING (HKHC) had a net profit margin of 7.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is HORIZON KINETICS HOLDING's return on equity (ROE)?

HORIZON KINETICS HOLDING (HKHC) has a return on equity of 1.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is HORIZON KINETICS HOLDING's free cash flow?

HORIZON KINETICS HOLDING (HKHC) recorded an outflow of $43.4M in free cash flow during fiscal year 2025. This represents a -468.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is HORIZON KINETICS HOLDING's operating cash flow?

HORIZON KINETICS HOLDING (HKHC) recorded an outflow of $43.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are HORIZON KINETICS HOLDING's total assets?

HORIZON KINETICS HOLDING (HKHC) had $2.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are HORIZON KINETICS HOLDING's capital expenditures?

HORIZON KINETICS HOLDING (HKHC) invested $315K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does HORIZON KINETICS HOLDING have outstanding?

HORIZON KINETICS HOLDING (HKHC) had 19M shares outstanding as of fiscal year 2025.

What is HORIZON KINETICS HOLDING's debt-to-equity ratio?

HORIZON KINETICS HOLDING (HKHC) had a debt-to-equity ratio of 4.89 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is HORIZON KINETICS HOLDING's return on assets (ROA)?

HORIZON KINETICS HOLDING (HKHC) had a return on assets of 0.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is HORIZON KINETICS HOLDING's P/E ratio?

HORIZON KINETICS HOLDING (HKHC) trades at 10.5x earnings, its market capitalization divided by net income of $46.9M net income, trailing 12 months to June 30, 2026. The market capitalization is $492.9M as of Sep 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is HORIZON KINETICS HOLDING's price-to-sales ratio?

HORIZON KINETICS HOLDING (HKHC) trades at 6.8x sales, its market capitalization divided by revenue of $72.3M revenue, trailing 12 months to June 30, 2026. The market capitalization is $492.9M as of Sep 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is HORIZON KINETICS HOLDING's Piotroski F-Score?

HORIZON KINETICS HOLDING (HKHC) has a Piotroski F-Score of 3 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are HORIZON KINETICS HOLDING's earnings high quality?

For every $1 of reported earnings, HORIZON KINETICS HOLDING (HKHC) used $8.41 of operating cash (-$43.1M OCF vs $5.1M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.