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Horizon Kinetics Holding Corp HKHC

OTC · stock · Investment Advice · website · IPO 1972-04-21

Horizon Kinetics Holding Corp statistics & valuation

Market cap$615.0M
P / E120.2×
P / S8.4×
P / B1.8×
Dividend yield1.03%
Net margin7.0%
Return on equity1.5%
FCF margin-59.6%
Graham number -59.6%$10.51

Market cap as of 2026-06-30. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($10.51); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
5.30% 11.10% 6.00% -2.30% -5.40% -37.30% -297.00% -9.50% 165.70% 7.00% 2016201720182019202020212022202320242025
Gross margin (%)
45.90% 43.70% 38.00% 40.20% 42.10% 46.10% 3.10% 2016201720182019202020212022202320242025
Operating margin (%)
9.10% 18.10% 7.90% -4.70% -8.40% -21.90% -332.70% -3.80% -27.00% 15.20% 2016201720182019202020212022202320242025
Return on equity (%)
11.40% 22.00% 9.20% -2.80% -6.90% -96.10% -4.00% -2.10% 27.20% 1.50% 2016201720182019202020212022202320242025
Shares outstanding
12.0M 12.3M 12.6M 12.5M 12.6M 12.7M 12.8M 18.0M 18.6M 18.6M 2016201720182019202020212022202320242025
Net debt ($)
-$97000 -$3.8M -$1.1M $6.0M $3.2M $3.5M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
8.50% 18.40% 8.40% -2.50% -4.60% -53.10% -82.50% -0.40% 4.60% 0.30% 2016201720182019202020212022202320242025
Free cash flow margin (%)
3.50% 8.40% 7.70% 2.00% 12.30% 53.70% 21.10% -59.60% 2016201720182019202020212022202320242025
Debt / equity (×)
0.12× 0.02× 0.00× 0.27× 0.28× 0.02× 2016201720182019202020212022202320242025
EPS ($)
$0.15 $0.38 $0.18 -$0.05 -$0.12 -$0.88 -$0.70 -$0.25 $5.07 $0.27 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Horizon Kinetics Holding Corp trades at about 96.4× earnings — below its 10-year norm (10-year range 7.8×–5822.2×, median 3421.1×).

7.8× 5822.2×

Shaded band = 10-year range (7.8×–5822.2×); dot = today's 96.4×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin——3.1%46.1%42.1%40.2%38.0%43.7%45.9%—
Operating margin15.2%-27.0%-3.8%-332.7%-21.9%-8.4%-4.7%7.9%18.1%9.1%
Net margin7.0%165.7%-9.5%-297.0%-37.3%-5.4%-2.3%6.0%11.1%5.3%
FCF margin-59.6%21.1%53.7%——12.3%2.0%7.7%8.4%3.5%
Return on assets0.3%4.6%-0.4%-82.5%-53.1%-4.6%-2.5%8.4%18.4%8.5%
Return on equity1.5%27.2%-2.1%-4.0%-96.1%-6.9%-2.8%9.2%22.0%11.4%
Debt / equity———0.02×0.28×0.27×0.00×—0.02×0.12×
Current ratio——5.801.382.262.865.477.614.333.11

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.