10-K · March 4, 2026
Westwood’s 2025 Form 10-K emphasizes an asset-management growth strategy driven by AUM expansion, product launches and selective M&A while continuing to rely on advisory fees tied to AUM. The firm reported AUM of…
Earnings analysis · 10-Q
WHG earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
Westwood Holdings Group reported Q1 2026 results with revenues of $24.97 million, up 7% year-over-year but down sequentially from $27 million in Q4 2025. The diluted EPS increased to $0.09 from $0.05 in the prior year.…
Read full summary
Westwood Holdings Group reported Q1 2026 results with revenues of $24.97 million, up 7% year-over-year but down sequentially from $27 million in Q4 2025. The diluted EPS increased to $0.09 from $0.05 in the prior year. Segment performance varied, with decreases in Wealth Management and Institutional assets, while revenues from ETFs and private energy secondaries funds contributed positively to year-over-year growth.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.09
What stood out
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Q1 2026 Revenue Growth
Total revenues increased 7% year-over-year to $24.97 million from $23.25 million.
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Substantial EPS Gain
Diluted EPS rose 80% year-over-year to $0.09 from $0.05.
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Employee Expense Increase
Employee compensation climbed 18% to $17.17 million due to higher incentive costs.
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Institutional AUM Decline
Institutional AUM decreased marginally by 0.3% to $8.96 billion from $8.99 billion.
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Higher Realized Gains on Investments
Realized gains increased to $2.05 million from no gains in Q1 2025.
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Overall Net Income Growth
Net income grew by 64% to $782,000 compared to $478,000 in Q1 2025.
What to watch
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Higher Compensation Costs Impact
Employee compensation rose 18% year-over-year, impacting overall expenses.
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Net Outflows from Wealth Management
Wealth Management segment experienced net client outflows, decreasing AUM by 2%.
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Increased Legal Expenses
Legal and professional services expenses increased by 33%, affecting profit margins.
Management's outlook
No explicit numeric guidance provided; outlook deferred.
Earlier filings 4
10-Q · October 30, 2025
Westwood reported Q3 2025 revenues of $24.289M, up from $23.719M in Q3 2024, with net operating income turning positive to $2.009M (vs. $(0.494)M) and net income of $3.729M (vs. $0.159M). Diluted EPS improved to $0.41…
10-Q · August 8, 2025
Westwood reported Q2 revenue of $23.12M (up $0.432M, +1.9% vs. Q2 2024) and turned to operating income of $0.868M vs. an operating loss of $(4.178)M a year ago. Diluted EPS was $0.12 (vs. $(0.27) in Q2 2024). Cash…
10-K · March 5, 2025
Westwood positions itself as an active asset manager and wealth manager focused on product expansion (two ETFs launched in 2024) and inorganic growth (Salient acquisition in 2022 and Broadmark ownership increased to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.