Westwood Holdings Group (WHG) has wrapped up FY 2025 with fourth quarter revenue of US$27.1 million and basic EPS of US$0.22, rounding out a trailing 12 month picture that includes total revenue of US$97.8 million and EPS of US$0.84. Over recent periods the company has seen revenue move from US$25.6 million and EPS of US$0.25 in Q4 2024 to Q3 2025 levels of US$24.3 million and EPS of US$0.44 before the latest quarter, while trailing net profit margin has shifted from 2.3% to 7.2%. This gives investors a clearer view of how earnings translate into margins. Overall, the release points to margins that are more supportive of the current earnings profile, but also highlights the need to separate ongoing profitability from one off items.
See our full analysis for Westwood Holdings Group.With the headline numbers on the table, the next step is to see how this earnings profile aligns with the dominant narratives around Westwood, and where the latest margin trends might challenge those views.
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7.2% net margin helped by US$1.9m one off
- Over the last 12 months, net profit margin sat at 7.2% versus 2.3% a year earlier, with a US$1.9m one off gain included in the earnings that feed into that margin.
- Bulls pointing to the 218.6% earnings growth over the past year get some support from this margin shift, yet the one off gain means:
- Trailing 12 month net income of US$7.1m includes that US$1.9m item, so the step up in profitability is not entirely from recurring operations.
- Quarterly EPS has also moved around within the year, from US$0.06 in Q1 2025 to US$0.44 in Q3 2025 and US$0.22 in Q4 2025, which makes it harder to treat the latest margin level as a steady run rate.
AUM steady, but flows swing by US$642m
- Within FY 2025, reported net flows ranged from an inflow of US$642m in Q1 2025 to outflows of US$231m in Q2 2025 and US$671m in Q3 2025, while AUM moved between US$16.6b and US$17.3b over those periods.
- For a more optimistic take, the advisory and trust franchise held AUM roughly flat despite those swings in flows, yet:
- AUM at the start of Q3 2025 was US$17.3b and ended the period at US$17.3b, even though there was a US$671m outflow, so market performance or other factors had to offset client withdrawals.
- Earlier in the year, Q1 2025 started at US$16.6b and ended at US$17.0b with a US$642m inflow, highlighting how sensitive revenue can be to shifts in client activity from quarter to quarter.
P/E of 20.9x sits below industry at 23.1x
- The shares trade on a trailing P/E of 20.9x compared with 23.1x for the US Capital Markets industry and 103.4x for peers, using trailing earnings that include the US$1.9m one off gain.
- Investors who see this as a value angle have some points in their favor, but the data also gives bears material talking points:
- On one hand, trailing 12 month EPS of US$0.84 and a share price of US$17.69 produce that 20.9x multiple, which is lower than both the sector average and the much higher peer average.
- On the other hand, an unstable dividend record and recent insider selling, alongside the one off gain in earnings, mean the trailing P/E is based on a mix of recurring and non recurring drivers rather than a clean earnings stream.
For a fuller view of how these numbers fit into the wider story for Westwood, including long term growth and risks, it can help to read the broader narrative built around the company, not just the latest figures. Curious how numbers become stories that shape markets? Explore Community Narratives
Next Steps
Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on Westwood Holdings Group's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move.
See What Else Is Out There
The recent earnings rely in part on a US$1.9m one off gain, show uneven quarterly EPS, and come with an unstable dividend record and insider selling.
If that mix of one off support, choppy earnings and dividend uncertainty feels uncomfortable, it could be worth checking out 85 resilient stocks with low risk scores that aim to prioritise steadier profiles.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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