COWEN INC - A (COWN)
US2236226062 - Common Stock
Overall COWN gets a fundamental rating of 3 out of 10. We evaluated COWN against 210 industry peers in the Capital Markets industry. Both the profitability and financial health of COWN have multiple concerns. COWN is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year COWN was profitable.
COWN had a negative operating cash flow in the past year.
COWN had positive earnings in 4 of the past 5 years.
In multiple years COWN reported negative operating cash flow during the last 5 years.
1.2 Ratios
COWN has a Return On Assets (1.37%) which is in line with its industry peers.
The Return On Equity of COWN (10.37%) is better than 68.60% of its industry peers.
The Return On Invested Capital of COWN (1.86%) is worse than 68.12% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.37% | ||
| ROE | 10.37% | ||
| ROIC | 1.86% |
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
COWN's Profit Margin of 7.52% is on the low side compared to the rest of the industry. COWN is outperformed by 61.84% of its industry peers.
COWN's Profit Margin has improved in the last couple of years.
COWN's Operating Margin of 7.50% is on the low side compared to the rest of the industry. COWN is outperformed by 80.19% of its industry peers.
Looking at the Gross Margin, with a value of 75.78%, COWN is in the better half of the industry, outperforming 73.91% of the companies in the same industry.
COWN's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 7.5% | ||
| PM (TTM) | 7.52% | ||
| GM | 75.78% |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y54.27%
PM growth 5YN/A
GM growth 3Y2.52%
GM growth 5Y-0.96%
2. Health
2.1 Basic Checks
There is no outstanding debt for COWN. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
2.2 Solvency
Based on the Altman-Z score of -0.09, we must say that COWN is in the distress zone and has some risk of bankruptcy.
COWN has a worse Altman-Z score (-0.09) than 70.05% of its industry peers.
COWN has a Debt/Equity ratio of 0.16. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of COWN (0.16) is better than 75.36% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | N/A | ||
| Altman-Z | -0.09 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
COWN has a Current Ratio of 0.48. This is a bad value and indicates that COWN is not financially healthy enough and could expect problems in meeting its short term obligations.
COWN has a Current ratio of 0.48. This is in the lower half of the industry: COWN underperforms 71.01% of its industry peers.
A Quick Ratio of 0.48 indicates that COWN may have some problems paying its short term obligations.
COWN has a Quick ratio of 0.48. This is in the lower half of the industry: COWN underperforms 71.01% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.48 | ||
| Quick Ratio | 0.48 |
3. Growth
3.1 Past
COWN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -57.41%.
The Earnings Per Share has been growing by 59.88% on average over the past years. This is a very strong growth
The Revenue for COWN has decreased by -23.97% in the past year. This is quite bad
The Revenue has been growing by 34.98% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-57.41%
EPS 3Y59.88%
EPS 5YN/A
EPS growth Q2Q-42.42%
Revenue 1Y (TTM)-23.97%
Revenue growth 3Y29.77%
Revenue growth 5Y34.98%
Revenue growth Q2Q-0.35%
3.2 Future
Based on estimates for the next years, COWN will show a decrease in Earnings Per Share. The EPS will decrease by -9.03% on average per year.
COWN is expected to show a very negative growth in Revenue. In the coming years, the Revenue will decrease by -12.08% yearly.
EPS Next Y-71.67%
EPS Next 2Y-31.22%
EPS Next 3Y-9.03%
EPS Next 5YN/A
Revenue Next Year-30.83%
Revenue Next 2Y-12.08%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
COWN is valuated cheaply with a Price/Earnings ratio of 7.80.
Compared to the rest of the industry, the Price/Earnings ratio of COWN indicates a rather cheap valuation: COWN is cheaper than 82.13% of the companies listed in the same industry.
COWN's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 25.20.
With a Price/Forward Earnings ratio of 8.30, the valuation of COWN can be described as very reasonable.
71.01% of the companies in the same industry are more expensive than COWN, based on the Price/Forward Earnings ratio.
COWN's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 21.63.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.8 | ||
| Fwd PE | 8.3 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of COWN indicates a rather cheap valuation: COWN is cheaper than 89.37% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 5.44 |
4.3 Compensation for Growth
A cheap valuation may be justified as COWN's earnings are expected to decrease with -9.03% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-31.22%
EPS Next 3Y-9.03%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 1.23%, COWN has a reasonable but not impressive dividend return.
COWN's Dividend Yield is slightly below the industry average, which is at 7.77.
With a Dividend Yield of 1.23, COWN pays less dividend than the S&P500 average, which is at 2.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.23% |
5.2 History
COWN has been paying a dividend for less than 5 years, so it still needs to build a track record.
Dividend Growth(5Y)N/A
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
COWN pays out 17.57% of its income as dividend. This is a sustainable payout ratio.
DP17.57%
EPS Next 2Y-31.22%
EPS Next 3Y-9.03%
COWEN INC - A
NASDAQ:COWN (2/28/2023, 7:26:38 PM)
After market: 39 +0.01 (+0.03%)38.99
0 (0%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap1.09B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.23% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
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Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
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Min Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
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Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.8 | ||
| Fwd PE | 8.3 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.37% | ||
| ROE | 10.37% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 7.5% | ||
| PM (TTM) | 7.52% | ||
| GM | 75.78% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.18
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.48 | ||
| Quick Ratio | 0.48 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-57.41%
EPS 3Y59.88%
EPS 5Y
EPS growth Q2Q
EPS Next Y-71.67%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-23.97%
Revenue growth 3Y29.77%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y