Westwood Hldgs Financials
Westwood Hldgs (WHG) reported $97.8M in revenue for fiscal year 2025, up 3.2% 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).
Cash generation remains durable despite volatile earnings, while minimal reinvestment and low leverage define WHG’s operating model.
FY2025 cash conversion was stronger than reported profitability: operating cash flow reached$18.9M against net income of$7.1M , indicating earnings were realized in cash rather than remaining primarily accrual-based. That reversed FY2023, when operating cash flow was-$1.2M despite net income of$10.6M , showing that working-capital or timing swings materially affect earnings quality.
Operating margin recovered to
Liabilities were
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Westwood Hldgs's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Westwood Hldgs has an operating margin of 5.1%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 42/100, indicating healthy but not exceptional operating efficiency. This is up from 0.9% the prior year.
Westwood Hldgs's revenue grew a modest 3.2% year-over-year to $97.8M. This slow but positive growth earns a score of 47/100.
Westwood Hldgs carries a low D/E ratio of 0.28, meaning only $0.28 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 69/100, indicating a strong balance sheet with room for future borrowing.
Westwood Hldgs converts 19.3% of revenue into free cash flow ($18.8M). This strong cash generation earns a score of 81/100.
Westwood Hldgs's ROE of 5.6% shows moderate profitability relative to equity, earning a score of 39/100. This is up from 1.8% the prior year.
Westwood Hldgs passes 5 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Westwood Hldgs generates $2.67 in operating cash flow ($18.9M OCF vs $7.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Westwood Hldgs generated $97.8M in revenue in fiscal year 2025. This represents an increase of 3.2% from the prior year.
Westwood Hldgs's EBITDA was $9.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 68.8% from the prior year.
Westwood Hldgs reported $7.1M in net income in fiscal year 2025. This represents an increase of 220.1% from the prior year.
Westwood Hldgs earned $0.79 per diluted share (EPS) in fiscal year 2025. This represents an increase of 203.8% from the prior year.
Cash & Balance Sheet
Westwood Hldgs generated $18.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 10.4% from the prior year.
Westwood Hldgs held $26.2M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Westwood Hldgs's operating margin was 5.1% in fiscal year 2025, reflecting core business profitability. This is up 4.2 percentage points from the prior year.
Westwood Hldgs's net profit margin was 7.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.9 percentage points from the prior year.
Westwood Hldgs's ROE was 5.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.8 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Westwood Hldgs repurchased no shares in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Westwood Hldgs invested $86K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 21.1% from the prior year.
Not reported for fiscal year 2025.
WHG Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $101.7M | $97.8M+3.2% | $94.7M+5.5% | $89.8M+30.7% | $68.7M-6.0% | $73.1M+12.2% | $65.1M-22.6% | $84.1M-31.3% | $122.3M-8.6% | $133.8M+8.7% | $123.0M-6.0% | $130.9M+15.6% | $113.2M+23.3% | $91.8M+18.5% | $77.5M+12.5% | $68.9M |
| SG&A Expenses | $11.2M | $11.3M-5.5% | $11.9M-4.5% | $12.5M+38.1% | $9.1M+12.2% | $8.1M-9.7% | $8.9M-6.0% | $9.5M-0.5% | $9.6M-0.9% | $9.7M+2.3% | $9.4M+10.6% | $8.5M+47.9% | $5.8M+9.5% | $5.3M+16.6% | $4.5M+15.8% | $3.9M |
| Operating Income | $4.7M | $5.0M+499.2% | $830K-86.2% | $6.0M+223.2% | -$4.9M-181.8% | $6.0M+272.9% | -$3.4M-174.2% | $4.6M-87.1% | $35.9M+6.0% | $33.9M-0.3% | $34.0M | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $2.8M | $2.6M+44.1% | $1.8M-37.2% | $2.9M+606.5% | -$567K-113.4% | $4.2M+212.0% | $1.4M-61.1% | $3.5M-64.1% | $9.7M-30.2% | $13.9M+22.4% | $11.4M-24.8% | $15.1M+2.2% | $14.8M+42.9% | $10.3M+30.4% | $7.9M-5.8% | $8.4M |
| Net Income | $7.9M | $7.1M+220.1% | $2.2M-79.1% | $10.6M+328.4% | -$4.6M-147.4% | $9.8M+209.1% | -$8.9M-251.4% | $5.9M-77.9% | $26.8M+33.8% | $20.0M-11.7% | $22.6M-16.4% | $27.1M-0.5% | $27.2M+52.8% | $17.8M+47.6% | $12.1M-17.7% | $14.7M |
| EPS (Diluted) | — | $0.79+203.8% | $0.26-77.8% | $1.17+298.3% | -$0.59-148.0% | $1.23+209.8% | -$1.12-260.0% | $0.70-77.6% | $3.13+31.5% | $2.38-14.1% | $2.77-16.8% | $3.33-3.5% | $3.45+48.7% | $2.32+40.6% | $1.65-19.1% | $2.04 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Interest Expense.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
WHG Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $162.3M+8.2% | $150.0M-3.3% | $155.2M+6.0% | $146.4M+4.9% | $139.6M-6.4% | $149.2M-16.5% | $178.7M-10.3% | $199.2M+3.4% | $192.7M+7.2% | $179.7M-0.9% | $181.3M+29.6% | $139.9M+20.5% | $116.0M+20.1% | $96.6M+6.6% | $90.6M |
| Current Assets | N/A | N/A | $72.2M+24.1% | $58.2M-38.0% | $93.9M-2.5% | $96.3M-17.7% | $117.0M-16.3% | $139.7M+1.2% | $138.1M+19.1% | $116.0M-1.4% | $117.6M-1.0% | $118.8M+23.4% | $96.2M+24.4% | $77.4M+6.7% | $72.5M |
| Cash & Equivalents | $26.2M+39.3% | $18.8M-7.7% | $20.4M-14.4% | $23.9M+56.9% | $15.2M+16.8% | $13.0M-73.8% | $49.8M-5.1% | $52.4M-3.3% | $54.2M+61.1% | $33.7M+48.1% | $22.7M+25.4% | $18.1M+66.9% | $10.9M+184.6% | $3.8M-27.5% | $5.3M |
| Accounts Receivable | $16.8M+15.9% | $14.5M+0.4% | $14.4M+3.6% | $13.9M+24.6% | $11.2M+18.0% | $9.4M-28.3% | $13.2M-28.5% | $18.4M-14.9% | $21.7M-7.6% | $23.4M+19.4% | $19.6M+34.9% | $14.5M+0.5% | $14.5M+62.2% | $8.9M+15.7% | $7.7M |
| Goodwill | $39.5M0.0% | $39.5M0.0% | $39.5M+10.5% | $35.7M+117.9% | $16.4M0.0% | $16.4M-17.2% | $19.8M0.0% | $19.8M-27.0% | $27.1M0.0% | $27.1M0.0% | $27.1M+141.2% | $11.3M0.0% | $11.3M0.0% | $11.3M0.0% | $11.3M |
| Total Liabilities | $35.6M+28.6% | $27.7M-15.5% | $32.7M-8.5% | $35.8M+64.9% | $21.7M+17.7% | $18.4M-39.4% | $30.4M-20.0% | $38.0M+4.9% | $36.3M+7.9% | $33.6M-29.0% | $47.4M+58.6% | $29.9M+9.1% | $27.4M+36.5% | $20.1M+1.1% | $19.8M |
| Current Liabilities | N/A | N/A | $18.6M+5.9% | $17.6M+11.2% | $15.8M+34.3% | $11.8M-44.8% | $21.4M-21.3% | $27.1M-14.0% | $31.5M+6.3% | $29.7M-33.9% | $44.9M+64.9% | $27.2M+9.5% | $24.9M+32.0% | $18.8M+7.4% | $17.5M |
| Total Equity | $125.6M+2.7% | $122.3M0.0% | $122.3M+10.6% | $110.6M-6.2% | $117.9M-9.8% | $130.7M-11.9% | $148.3M-8.0% | $161.1M+3.0% | $156.4M+7.1% | $146.1M+9.0% | $134.0M+21.8% | $110.0M+24.1% | $88.7M+15.8% | $76.6M+7.7% | $71.1M |
| Retained Earnings | $9.0M+44.7% | $6.2M+33.5% | $4.7M+209.3% | -$4.3M-197.5% | $4.4M+357.3% | -$1.7M-115.5% | $11.0M-64.1% | $30.5M+6.7% | $28.6M-10.3% | $31.9M+7.4% | $29.7M+46.1% | $20.3M+149.3% | $8.1M+126.3% | $3.6M-44.4% | $6.5M |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
WHG Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $19.5M | $18.9M-10.4% | $21.1M+1882.4% | -$1.2M-102.3% | $51.5M+165.6% | $19.4M+298.4% | -$9.8M-130.4% | $32.2M+2.2% | $31.5M-34.4% | $48.0M+1.3% | $47.4M-14.2% | $55.2M+108.2% | $26.5M+22.2% | $21.7M+57.5% | $13.8M-25.7% | $18.5M |
| Capital Expenditures | $860K | $86K-21.1% | $109K-25.9% | $147K-54.1% | $320K+79.8% | $178K+91.4% | $93K-84.3% | $593K-40.2% | $991K+12.1% | $884K-51.4% | $1.8M+122.9% | $816K+70.7% | $478K-60.2% | $1.2M+354.9% | $264K-81.6% | $1.4M |
| Free Cash Flow | $18.7M | $18.8M-10.4% | $21.0M+1677.6% | -$1.3M-102.6% | $51.2M+166.4% | $19.2M+294.7% | -$9.9M-131.2% | $31.6M+3.6% | $30.5M-35.3% | $47.1M+3.4% | $45.6M-16.2% | $54.4M+108.8% | $26.0M+27.0% | $20.5M+51.7% | $13.5M-21.0% | $17.1M |
| Investing Cash Flow | -$4.6M | -$3.7M+20.5% | -$4.6M-212.2% | $4.1M+112.2% | -$33.7M-452.7% | $9.6M+239250.0% | -$4K+99.9% | -$4.8M-234.8% | $3.6M+408.2% | -$1.2M | N/A | N/A | N/A | -$1.2M-173.4% | $1.6M+172.9% | -$2.2M |
| Financing Cash Flow | -$7.7M | -$7.9M+56.6% | -$18.1M-184.2% | -$6.4M+30.1% | -$9.1M+66.0% | -$26.8M-3.9% | -$25.8M+19.0% | -$31.9M+6.6% | -$34.1M-19.4% | -$28.6M | N/A | N/A | N/A | -$13.3M+21.2% | -$16.9M-32.1% | -$12.8M |
| Dividends Paid | $5.5M | $5.4M-1.4% | $5.4M-1.1% | $5.5M-2.2% | $5.6M-75.5% | $22.9M+107.7% | $11.0M-57.7% | $26.1M+6.0% | $24.6M+12.3% | $21.9M+12.8% | $19.4M+17.0% | $16.6M+19.0% | $14.0M+49.6% | $9.3M-33.3% | $14.0M+76.6% | $7.9M |
| Share Buybacks | N/A | $0-100.0% | $1.3M | $0-100.0% | $2.9M-4.6% | $3.0M-76.9% | $13.0M+436.5% | $2.4M-39.6% | $4.0M | $0-100.0% | $5.6M | $0 | $0-100.0% | $878K-76.9% | $3.8M-36.3% | $6.0M |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
WHG Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 5.1%+4.2pp | 0.9%-5.8pp | 6.7%+13.8pp | -7.1%-15.3pp | 8.2%+13.5pp | -5.3%-10.8pp | 5.5%-23.9pp | 29.4%+4.1pp | 25.3%-2.3pp | 27.7% | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 7.2%+4.9pp | 2.3%-9.4pp | 11.8%+18.5pp | -6.7%-20.1pp | 13.4%+27.1pp | -13.7%-20.8pp | 7.0%-14.8pp | 21.9%+6.9pp | 14.9%-3.5pp | 18.4%-2.3pp | 20.7%-3.4pp | 24.1%+4.6pp | 19.4%+3.8pp | 15.6%-5.7pp | 21.3% |
| Return on Equity | 5.6%+3.8pp | 1.8%-6.8pp | 8.6%+12.8pp | -4.2%-12.5pp | 8.3%+15.1pp | -6.8%-10.8pp | 4.0%-12.6pp | 16.6%+3.8pp | 12.8%-2.7pp | 15.5%-4.7pp | 20.2%-4.5pp | 24.8%+4.7pp | 20.1%+4.3pp | 15.8%-4.9pp | 20.7% |
| Return on Assets | 4.4%+2.9pp | 1.5%-5.3pp | 6.8%+10.0pp | -3.2%-10.2pp | 7.0%+13.0pp | -6.0%-9.3pp | 3.3%-10.1pp | 13.4%+3.0pp | 10.4%-2.2pp | 12.6%-2.3pp | 14.9%-4.5pp | 19.5%+4.1pp | 15.4%+2.9pp | 12.5%-3.7pp | 16.2% |
| Current Ratio | N/A | N/A | 3.87+0.6x | 3.30-2.6x | 5.92-2.2x | 8.17+2.7x | 5.48+0.3x | 5.15+0.8x | 4.38+0.5x | 3.91+1.3x | 2.62-1.7x | 4.37+0.5x | 3.87-0.2x | 4.110.0x | 4.14 |
| Debt-to-Equity | 0.28+0.1x | 0.230.0x | 0.27-0.1x | 0.32+0.1x | 0.180.0x | 0.14-0.1x | 0.210.0x | 0.240.0x | 0.230.0x | 0.23-0.1x | 0.35+0.1x | 0.270.0x | 0.310.0x | 0.260.0x | 0.28 |
| FCF Margin | 19.3%-2.9pp | 22.2%+23.7pp | -1.5%-76.0pp | 74.5%+48.2pp | 26.3%+41.4pp | -15.2%-52.7pp | 37.6%+12.6pp | 24.9%-10.3pp | 35.2%-1.8pp | 37.0%-4.5pp | 41.5%+18.5pp | 23.0%+0.7pp | 22.3%+4.9pp | 17.4%-7.4pp | 24.8% |
Not reported in any period shown, so not listed: Gross Margin.
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Where Westwood Hldgs Ranks
Frequently Asked Questions
What is Westwood Hldgs's annual revenue?
Westwood Hldgs (WHG) reported $97.8M in total revenue for fiscal year 2025. This represents a 3.2% 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 Westwood Hldgs's revenue growing?
Westwood Hldgs (WHG) revenue grew by 3.2% year-over-year, from $94.7M to $97.8M in fiscal year 2025.
Is Westwood Hldgs profitable?
Yes, Westwood Hldgs (WHG) reported a net income of $7.1M in fiscal year 2025, with a net profit margin of 7.2%.
What is Westwood Hldgs's EBITDA?
Westwood Hldgs (WHG) had EBITDA of $9.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Westwood Hldgs's operating margin?
Westwood Hldgs (WHG) had an operating margin of 5.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Westwood Hldgs's net profit margin?
Westwood Hldgs (WHG) had a net profit margin of 7.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Westwood Hldgs's return on equity (ROE)?
Westwood Hldgs (WHG) has a return on equity of 5.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Westwood Hldgs's free cash flow?
Westwood Hldgs (WHG) generated $18.8M in free cash flow during fiscal year 2025. This represents a -10.4% 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 Westwood Hldgs's operating cash flow?
Westwood Hldgs (WHG) generated $18.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Westwood Hldgs's total assets?
Westwood Hldgs (WHG) had $162.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Westwood Hldgs's capital expenditures?
Westwood Hldgs (WHG) invested $86K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Westwood Hldgs's debt-to-equity ratio?
Westwood Hldgs (WHG) had a debt-to-equity ratio of 0.28 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Westwood Hldgs's return on assets (ROA)?
Westwood Hldgs (WHG) had a return on assets of 4.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Westwood Hldgs's Piotroski F-Score?
Westwood Hldgs (WHG) has a Piotroski F-Score of 5 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 Westwood Hldgs's earnings high quality?
Westwood Hldgs (WHG) has an earnings quality ratio of 2.67x, considered cash-backed (high quality). 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.
How financially healthy is Westwood Hldgs?
Westwood Hldgs (WHG) scores 61 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.