Silvercrest Asset Management Group Inc. (SAMG) Market Cap
Silvercrest Asset Management Group Inc. has a market capitalization of $110.3M.
Financials based on reported quarter end 2025-12-31
Price: $13.58
▲ 0.19 (1.42%)
Market Cap: 110.29M
NASDAQ · time unavailable
CEO: Richard R. Hough
Sector: Financial Services
Industry: Asset Management
IPO Date: 2013-06-27
Website: https://www.silvercrestgroup.com
Silvercrest Asset Management Group Inc. (SAMG) - Company Information
Market Cap: 110.29M · Sector: Financial Services
Silvercrest Asset Management Group Inc., a wealth management firm, provides financial advisory and related family office services in the United States. The company serves ultra-high net worth individuals and families, as well as their trusts; endowments; foundations; and other institutional investors. It also manages funds of funds and other investment funds. The company was founded in 2002 and is headquartered in New York, New York.
Analyst Sentiment
Based on 3 ratings
Consensus Price Target
No data available
Price & Moving Averages
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Fundamentals Overview
So what: SAMG’s Q4 and full-year results show modest revenue growth but clear margin/cost headwinds from investment-stage staffing. The company’s compensation ratio rose to 67% of revenue (from 62% in 2024), and management explicitly expects it to remain elevated “for the foreseeable future,” citing ongoing hiring across Atlanta/Singapore and planned Dublin expansion tied to EU licensing. The key upside driver is international/global equity strategy momentum: the firm now has over $2B across global/international strategies and describes multiple-billion-dollar flow potential because these strategies are not capacity constrained. Near-term, the catalyst is regulatory commercialization—proactive Europe marketing licensing expected within “next couple of months” via Bank of Ireland, with further timing referenced as completion within Q2 through the Dublin office. Balance-sheet liquidity tightened (cash down to $44.1M), while capital returns were active (repurchased ~ $50.4M by end of 2025; ~$7M in Q4). Net-net: pipeline looks healthier, but earnings remain suppressed until hiring converts into measurable inflows.
Growth Catalysts
- Global/international equity strategies performance driving strong pipeline
- Non-capacity-constrained international/global strategies enabling “multiple billions of dollars” potential flows
- Regulatory commercialization readiness to move from reverse solicitation to proactive marketing in Europe (license timing drives distribution acceleration)
Business Development
- Reorganized international business development; added professionals in London and Australia
- Creating an Australian investment trust and a UCITS vehicle in Europe
- Expected proactive Europe marketing license approval via Bank of Ireland (within next couple of months; Q2 timing stated for Europe business approval through Dublin office)
- Consultant/investor road trip in Australia; received seed investment from a large superannuation fund
- Partnership/Channel: ability for investors to invest directly in the Australian investment trust and use the UCITS vehicle for any Silvercrest strategy in Europe
Financial Highlights
- Q4 revenue: $32 million; reported consolidated net loss: -$0.1 million
- Q4 adjusted EBITDA: $2.9 million (8.9% of revenue)
- Q4 adjusted net income: $2.3 million; adjusted EPS: $0.19 basic / $0.18 diluted
- Q4 expenses: +$2.8 million (+9.5% YoY), driven by compensation and benefits (+$2.6 million, +12.1%) and G&A (+$0.2 million, +2.4%)
- Q4 compensation and benefits as % of revenue: 67% vs 62% in 2024 (requested forward view: ratio likely stays elevated due to hiring; historical steady-state 54%–55%, sometimes 56%)
- Full-year revenue: +$1.7 million (+1.3% YoY)
- Full-year adjusted EBITDA: $19.6 million (15.7% of revenue)
- Full-year adjusted net income: $11.8 million; adjusted EPS: $1.91
- Full-year reported net income attributable to Class A: $4.9 million; $0.56 per basic/diluted share (as stated)
- Balance sheet: cash fell to $44.1 million (from $68.6 million end of 2024); borrowings ~$4 million; total assets down to ~$166.6 million (from $194.4 million)
- EU licensing front-load effect: required new hires before earning EUR 1 of revenue (front-loading expense before revenue catch-up)
Capital Funding
- Share repurchase program announced $25 million (May 2025); by end of 2025 repurchased ~ $50.4 million (program “almost completed”)
- Additional Q4 repurchases: repurchased Class A shares totaling ~ $7 million during the fourth quarter (per transcript)
- Cash runway: $44.1 million cash and cash equivalents at end of 2025
- Debt level: ~$4 million borrowings at end of 2025
Strategy & Ops
- International BD reorganization to explicit overseas coverage (London and Australia professionals)
- Operational footprint expansion: opened physical office in Atlanta; opened office in Singapore
- Space secured in Dublin with hiring planned for portfolio management/outward-facing professionals upon license
- Comp ratio management: “adjust interim compensation ratio” and expects elevated compensation ratio “for the foreseeable future” until flows mature
- Accounting/reporting change planned: adjust reporting of nondiscretionary AUM in a future quarter; onetime AUM reclassification without revenue effect to better show AUM and economics
Market Outlook
- Expected Europe proactive marketing licensing approval via Bank of Ireland within “next couple of months” (also stated completion of regulatory approval in Europe through Dublin office within Q2)
- Distributions/flow timing: expects to start seeing flows “sooner than later in 2026” and to report progress toward the pipeline in coming quarters
Risks & Headwinds
- Compensation ratio pressure: elevated costs tied to hiring; no commitment that comp ratio will fall near term (depends on substantial flows)
- Pipeline measurability risk: pipeline reporting stopped under prior methodology; reduced confidence/visibility vs past (finals/RFPs within 6 months) due to business model changes
- Regulatory execution risk: EU licensing requires new hires before revenue; delays would extend expense front-loading
- AUM pressure: discretionary AUM down 1.2% QoQ and total AUM down 1.6% QoQ (no revenue effect mentioned for YoY AUM increase)
Sentiment: MIXED
Note: This summary was synthesized by AI from the SAMG Q4 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.