Cohen & Company Inc. (COHN) Stock

Cohen & Company Inc. (COHN) is a Financials stock trading at $11.08 (as of 2026-08-20), with a market capitalization of $35.78M and a trailing P/E of 2.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Cohen & Company Inc. is a publicly owned investment manager that manages separate fixed income portfolios for individuals and institutions. Through its institutional financial markets business, it also manages funds and collateralized debt obligations, investing globally across fixed income and alternative markets.

Understand Cohen & Company Inc.: how it makes money

Cohen & Company is a publicly owned investment manager that provides separate fixed income portfolios for individuals and institutions, and also generates capital markets revenues through activities like principal transactions and investment banking/new issue and advisory.

In this latest quarter, results appear to be driven mainly by capital markets and trading related revenue lines (investment banking/new issue, principal transactions, and net trading), while Asset Management Revenue is shown as 0.0, meaning the profit engine is not primarily traditional fee-based asset management.

Revenue by segment (latest quarter)
Investment Banking$0.1B
Principal Transactions$0.0B
Net Trading$0.0B

Business quality (Solid): Latest-quarter revenue detail appears internally inconsistent with total revenue (some candidate line items exceed the stated total revenue), so segment takeaways should be treated as directional and focused on the clearest, smaller, non-overlapping components.

Valuation: At 3× earnings, COHN trades 92% below the Trading average (34×). Note: one-time items can distort reported P/E.

Bull case

  • Capital markets activity is measurable: In the latest quarter, Investment Banking and New Issue Revenue is 0.05 USD_B and New Issue and Advisory Revenue is 0.04 USD_B, with 25 Cohen and Company Capital Markets advisory/new issue clients and 18 clients for advisory revenue.
  • Business includes fixed income and alternative credit exposure: The firm invests in fixed income and alternative investment markets globally, including U.S. trust preferred securities, European hybrid capital securities, mortgage backed securities, and asset backed securities, as well as Asian commercial real estate debt.
  • Earnings profitability exists at the operating level: Operating margin is 8.9% for the period ended 2026-03-31.

Bear case

  • Potential concentration risk in collateralized debt obligations: Assets Under Management include 53.8% in collateralized debt obligations.
  • Revenue mix appears less dependent on asset management revenue in the quarter shown: Asset Management Revenue is shown as 0.0 USD_B in the latest quarter, which may indicate earnings dependence on non-asset-management revenue lines.
  • Principal transactions and other revenue is a prominent driver: Negative Principal Transactions and Other Revenue is 0.16 USD_B in the candidate line items, and the company also reports Negative Principal Transactions Revenue from Financial Instruments Received as Client Consideration at the same 0.16 USD_B level, suggesting sensitivity to this component.
Valuation — source: SEC EDGAR (first-party)
Price$11.08
Market Cap$35.78M
P/E Ratio2.7
EV / EBITDA0.5
Price / Book0.33
Price / Sales0.13
FCF Yield-174.1%
DCF Value (model)$112.03
DCF Upside vs Price911.1%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$275.56M
Net Margin5.2%
Revenue Growth (YoY)246.2%
EPS Growth (YoY)-10512.5%
FCF Growth (YoY)217.2%
Valuation vs Sector & Industry
Stock P/E2.7
Sector P/E (Financials)15.1
Industry P/E (Trading)34.6
vs Sector-82.0%
vs Industry-92.1%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($455396.00)
Institutional Holders Tracked10
Company
SectorFinancials
IndustryTrading
CEOLester Raymond Brafman
Employees117
CountryUS
IPO Date2004-03-17

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COHN earnings history · COHN institutional & insider holders · COHN KPIs & operating metrics · COHN financials · COHN investor presentations & press releases · COHN SEC filings · COHN peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.