Westwood Holdings Group Inc (WHG) stock analysis
Close on Nov 12, 2026Market cap $177.79MP/E 23.6Yield –
StockData Score
Prices as of Nov 12, 2026How the score works
Mixed12 of 30 checks passed
Westwood passes 12 of the 30 checks behind our score; 7 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 2/6
- Growth
- 1/6
- Past performance
- 1/6
- Financial health
- 5/6
- Dividend
- 3/6
What stands out
No debt
Westwood has no borrowings on its latest balance sheet.
Revenue growing 10%+ a year
Revenue grew 12.5% a year over the last three fiscal years.
Interest well covered
No meaningful interest expense to cover.
Debt covered by cash flow
There is no debt to cover.
What to watch
Margin of safety under 20%
The price is 12.1% above fair value, so there is no margin of safety.
Trading above fair value
The share price of $18.63 is above our fair value estimate of $16.62.
Return on equity under 15%
Return on equity was 5.6% over the last twelve months and averaged 4.1% over five years; we look for 15% on both.
Return on capital under 10%
Return on invested capital was 4.6%, below the 10% that usually covers the cost of capital.
Valuation2/6
P/E above its 5-year median
Westwood's P/E of 23.6 is above its own 5-year median of 11.4.
P/E above the industry
Westwood's P/E of 23.6 is above the Services Allied with the Exchange of Securities median of 20.6.
EV/EBITDA below its 5-year median
Westwood's EV/EBITDA of 26.1 is below its 5-year median of 32.7.
P/B below the industry
Westwood's price-to-book of 1.38 is below the Services Allied with the Exchange of Securities median of 3.64.
Trading above fair value
The share price of $18.63 is above our fair value estimate of $16.62.
Margin of safety under 20%
The price is 12.1% above fair value, so there is no margin of safety.
Growth1/6
Revenue growing 10%+ a year
Revenue grew 12.5% a year over the last three fiscal years.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing slower than the industry
Revenue grew 3.2% over the last twelve months; the Services Allied with the Exchange of Securities median is 8.7%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin trend
This company does not report gross profit.
Past performance1/6
Return on equity under 15%
Return on equity was 5.6% over the last twelve months and averaged 4.1% over five years; we look for 15% on both.
Return on capital under 10%
Return on invested capital was 4.6%, below the 10% that usually covers the cost of capital.
Return on equity below the industry
Westwood's return on equity of 5.6% is below the Services Allied with the Exchange of Securities median of 15.7%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 7.2% over the last twelve months, against a 5-year average of 5.6%.
Net margin below the industry
Westwood's net margin of 7.2% is below the Services Allied with the Exchange of Securities median of 15.7%.
Financial health5/6
No debt
Westwood has no borrowings on its latest balance sheet.
Debt not rising
With no debt today, leverage cannot have risen.
Debt covered by cash flow
There is no debt to cover.
Interest well covered
No meaningful interest expense to cover.
Short-term liquidity
The balance sheet is not split into current and non-current items.
Low bankruptcy risk
The Altman Z-score is 4.07; above 3 is the safe zone and below 1.8 the distress zone.
Dividend3/6
Pays a dividend
Westwood paid dividends worth 3.2% of the share price over the last twelve months.
Yield below Treasuries
The 3.2% yield is below the 4.6% on a 1-year Treasury.
Yield below the top quarter
The top quarter of US dividend payers yield 3.9% or more; Westwood yields 3.2%.
Dividend stability
Fewer than five years of dividend history.
Covered by earnings
Dividends take 75.8% of net income.
Covered by free cash flow
Dividends take 28.5% of free cash flow.
Fair value
How we estimate itOur estimate per share
$16.62
The share price is 12% above this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 16.0× | 11.4× | 20.6× | $12.65 | 40% |
| EV/EBITDA | 22.3× | 32.7× | 11.8× | $16.63 | 35% |
| P/B | 2.4× | 1.1× | 3.6× | $31.95 | 10% |
| Earnings power | 7.9% cost of equity | – | – | $16.94 | 15% |
| Fair value | $16.62 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Own 5-year median 11.4
- Services Allied with the Exchange of Securities median 20.6
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
High risk
- Average value traded per day
- $203.58K
- Value traded per 1% price move
- $195.80K
Downside
Low risk
- Typical loss in a bad month
- 12.3%
- Volatility (annualized)
- 34%
- Sharpe ratio, 1 year
- 0.21
- Beta to the S&P 500 (5Y)
- 0.59
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.2% | +12.5% | +8.5% | -2.9% | |
| Operating income | +499.2% | – | – | – | |
| Net income | +220.1% | – | – | -12.6% | |
| EPS, diluted | +203.8% | – | – | -13.4% | |
| Free cash flow | -10.4% | -28.3% | – | -10.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 16.2% | -6.4% | 5.7% | |
| Return on assets | 12.5% | -5.5% | 4.5% | |
| Current ratio | 3.91 | 8.17 | – | |
| Capex to revenue | 1.5% | 0.1% | 0.1% | |
| Diluted shares | 8M | 8M | 9M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Westwood generated $112.10M from operations and spent $52.89M on capital expenditure, dividends and share buybacks. 2% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 7.2% | 0.63× | 1.26× | 5.7% |
| FY2024 | 2.3% | 0.62× | 1.25× | 1.8% |
| FY2023 | 11.8% | 0.60× | 1.29× | 9.1% |
| FY2022 | -6.7% | 0.48× | 1.25× | -4.0% |
| FY2021 | 13.4% | 0.51× | 1.16× | 7.9% |
| FY2020 | -13.7% | 0.40× | 1.18× | -6.4% |
| FY2019 | 7.0% | 0.44× | 1.22× | 3.8% |
| FY2018 | 21.9% | 0.62× | 1.23× | 16.8% |
| FY2017 | 14.9% | 0.72× | 1.23× | 13.2% |
| FY2016 | 18.4% | 0.68× | 1.29× | 16.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$7.08M
- Cash generatingOperating cash flow above zero$18.92M
- Return on assets improvedROA up on the prior year1.4% → 4.7%
- Earnings backed by cashOperating cash flow above net income$18.92M vs $7.08M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise9M → 9M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.61 → 0.65
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