Horizon Kinetics Holding Corp (HKHC)
Horizon Kinetics Holding Corporation is an employee-owned asset management company. While primarily serving affluent individuals, its client base also includes a diverse array of entities such as other individuals, investment firms, pension and profit-sharing plans, pooled investment vehicles, charitable organizations, and corporations. The firm manages bespoke equity and fixed income portfolios, and also offers an equity mutual fund. Globally, it allocates capital across public equity, fixed income, and alternative markets, with a typical focus on value stocks within both small and large capitalization companies. Investment strategies are built upon a foundation of fundamental analysis, informed by thorough in-house research. Horizon Kinetics Holding Corporation was founded in 1994, is headquartered in New York City, and maintains additional offices in Charlotte, North Carolina; Summit, New Jersey; and White Plains, New York.
Sector: Investment Advice
Industry: Asset Management
Horizon Kinetics Holding Corporation
OTC:HKHCFinancial Services · Asset Management
-1.73%$19.85
Mkt Cap$369.91M
Float7.94M
O/S18.64M
Inst Own5.8%
SI<0.1%
Div Yield2.44%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$72.85M
Net Income$4.9M
Total Assets$2B
Free Cash Flow-$43.38M
Debt & Equity
Debt 2%
Equity 98%
Total Debt$8.25M
Total Equity$338.95M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in HKHC's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$2B
Liabilities$105.25M
Accounts Receivable$6.58M
Accounts Payable$13.74M
Inventory$0
PP&E (Net)$6.78M
Goodwill$23.37M
Intangible Assets$53.62M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Revenue | $72.85M | $57.18M | $47.26M | $2.98M | $29.74M | $28.96M |
| YoY Growth | 27.4% | 21.0% | 1486.0% | -90.0% | 2.7% | - |
| Cost of Revenue | $33.14M | $38.58M | $26.85M | $1.61M | $17.21M | $18.31M |
| Gross Profit | $39.7M | $18.6M | $20.41M | $1.37M | $12.53M | $10.64M |
| Gross Margin | 54.5% | 32.5% | 43.2% | 46.1% | 42.1% | 36.8% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $25.88M | $29.89M | $18.7M | $6.63M | $14.21M | $12.97M |
| Other | $2.74M | $4.24M | $3.49M | $4.66M | $4.85M | $0 |
| Total Operating Expenses | $28.62M | $34.13M | $22.19M | $11.29M | $19.06M | $12.97M |
| Operating Income (EBIT) | $11.08M | -$15.53M | -$1.78M | -$9.91M | -$6.53M | -$2.33M |
| Operating Margin | 15.2% | -27.2% | -3.8% | -332.7% | -21.9% | -8.0% |
| Interest Expense | $0 | $0 | $145K | $141K | $341K | $216K |
| Interest Income | $10.77M | $22.09M | $15.03M | $0 | $0 | $0 |
| Other Income (Expense) | -$27M | $914.62M | $90.89M | -$141K | -$341K | $27K |
| Income Before Tax (EBT) | -$15.92M | $899.09M | $89.11M | -$10.05M | -$6.87M | -$2.3M |
| Income Tax Expense | -$23.22M | $104.28M | -$122K | $63K | $1.08M | -$707K |
| Net Income | $4.9M | $92.47M | -$4.49M | -$8.85M | -$11.09M | -$1.55M |
| Net Income Margin | 6.7% | 161.7% | -9.5% | -297.0% | -37.3% | -5.4% |
| Supplementary Data | ||||||
| EPS | 0.26 | 5.07 | -0.25 | -0.70 | -0.88 | -2.45 |
| Diluted EPS | 0.26 | 5.07 | -0.25 | -0.70 | -0.88 | -2.45 |
| Weighted Average OS | 18.64M | 18.26M | 17.98M | 12.76M | 12.68M | 631,750 |
| EBITDA | $14.31M | -$13.71M | -$615K | -$9.29M | -$4.71M | -$655K |
| EBITDA Margin | 19.6% | -24.0% | -1.3% | -311.8% | -15.8% | -2.3% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Assets | ||||||
| Current Assets | ||||||
| Cash and Cash Equivalents | $82.38M | $58.75M | $69.59M | $49K | $770K | $5K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $82.38M | $58.75M | $69.59M | $49K | $770K | $5K |
| Accounts Receivable | $6.58M | $8.7M | $5.96M | $2.07M | $3.84M | $5.05M |
| Inventory | $0 | $0 | $365K | $775K | $4.94M | $3.81M |
| Other Current Assets | $8.6M | $0 | -$572K | $4.26M | $500K | $292K |
| Total Current Assets | $97.56M | $67.45M | $75.56M | $7.4M | $10.48M | $9.75M |
| Long-Term Assets | ||||||
| Property, Plant & Equipment Net | $6.78M | $5.2M | $5.85M | $2.49M | $2.74M | $3M |
| Goodwill | $23.37M | $24.43M | $19.27M | $0 | $1.71M | $3.82M |
| Intangible Assets | $53.62M | $57.77M | $45.7M | $793K | $4.81M | $9.98M |
| Long-Term Investments | $1.81B | $1.85B | $948.04M | $0 | $0 | $0 |
| Deferred Tax Assets | $7.85M | $0 | $0 | $0 | $3.12M | $969K |
| Other Long-Term Assets | $9.52M | $21.6M | $21.79M | $47K | -$1.99M | $6.03M |
| Total Long-Term Assets | $1.91B | $1.96B | $1.04B | $3.33M | $10.39M | $23.81M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $2B | $2.03B | $1.12B | $10.73M | $20.87M | $33.56M |
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts Payable | $13.74M | $23.5M | $9.68M | $1.41M | $2.65M | $1.8M |
| Short-Term Debt | $3.12M | $0 | $0 | $3.38M | $1M | $1.25M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $66K | $222K | $70K | $0 | $0 | $0 |
| Other Current Liabilities | $578K | $0 | $0 | $0 | $0 | $363K |
| Total Current Liabilities | $17.51M | $49.22M | $28.02M | $5.37M | $4.64M | $3.41M |
| Long-Term Liabilities | ||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $1.88M | $4.52M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $74.19M | $95.68M | $617K | $0 | $3.12M | $0 |
| Other Long-Term Liabilities | $8.42M | $2.79M | -$2.06M | $27K | -$3.09M | $127K |
| Total Long-Term Liabilities | $87.74M | $98.48M | $777K | $2.54M | $4.68M | $7.68M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $105.25M | $147.69M | $28.8M | $7.91M | $9.33M | $11.09M |
| Stockholders' Equity | ||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $1.86M | $1.86M | $1.8M | $1.28M | $1.27M | $1.26M |
| Retained Earnings | $297.85M | $299.06M | $207.29M | -$6.37M | $2.48M | $13.57M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $39.24M | $39.24M | $0 | $7.91M | $7.79M | $7.63M |
| Total Equity | $338.95M | $340.17M | $209.09M | $2.82M | $11.54M | $22.46M |
| Minority Interest | $1.56B | $1.54B | $878.33M | $0 | $0 | $0 |
| Total Liabilities and Equity | $444.21M | $487.86M | $237.88M | $10.73M | $20.87M | $33.56M |
| Supplementary Data | ||||||
| Total Debt | $8.25M | $7.38M | $9.5M | $6.17M | $5.91M | $8.8M |
| Net Debt | -$74.13M | -$51.37M | -$60.09M | $6.12M | $5.14M | $8.8M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Operating Activities | ||||||
| Net Income | $6.42M | $794.81M | $89.23M | -$8.85M | -$11.09M | -$1.59M |
| Depreciation & Amortization | $3.23M | $1.82M | $1.17M | $622K | $1.82M | $1.43M |
| Deferred Income Tax | -$29.34M | $92.15M | -$522K | $0 | $784K | -$229K |
| Stock-Based Compensation | $0 | $0 | $65K | $130K | $110K | $0 |
| Changes in Working Capital: | ||||||
| Accounts Receivable | -$39.76M | -$5.43M | $5.48M | $1.87M | $1.21M | -$1.65M |
| Inventory | $0 | $0 | $967K | $194K | -$2.09M | $4.26M |
| Accounts Payable | -$20.36M | $24.91M | -$72K | -$1.68M | $1.13M | $331K |
| Other Working Capital | $2.6M | -$1.65M | $5.53M | $82K | $272K | -$323K |
| Total Working Capital Change | -$57.52M | $17.83M | $11.91M | $462K | $523K | $2.62M |
| Other Non-Cash Items | $34.14M | -$894.77M | -$76.37M | $5.79M | $7.53M | $1.36M |
| Net Cash from Operating | -$43.07M | $11.84M | $25.48M | -$1.85M | -$322K | $3.58M |
| Investing Activities | ||||||
| Capital Expenditures | -$315K | -$47K | -$95K | -$142K | -$469K | -$17K |
| Acquisitions | $47.8M | $2.82M | -$5.77M | $480K | $0 | -$10.03M |
| Purchases of Investments | -$1.21M | -$976K | -$1.13M | $0 | $0 | $0 |
| Sales of Investments | $32.82M | $506K | $2.48M | $0 | $0 | $0 |
| Other Investing Activities | -$6.07M | -$165K | -$475K | $0 | $4.85M | -$51K |
| Net Cash from Investing | $73.03M | $2.14M | $782K | $338K | $4.38M | -$10.1M |
| Financing Activities | ||||||
| Debt Repaid | - | - | $1M | $2M | -$417K | -$5.36M |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $57K | $67K |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | -$6.34M | -$5.07M | -$9.62M | $0 | $0 | $0 |
| Other Financing Activities | $0 | -$19.75M | -$2.27M | $0 | -$60K | $0 |
| Net Cash from Financing | -$6.34M | -$24.82M | -$15.39M | $290K | -$2.79M | $5.43M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $23.63M | -$10.84M | $10.87M | -$1.22M | $1.26M | -$1.09M |
| Supplementary Data | ||||||
| Operating Cash Flow | -$43.07M | $11.84M | $25.48M | -$1.85M | -$322K | $3.58M |
| Capital Expenditure | -$315K | -$47K | -$95K | -$142K | -$469K | -$17K |
| Free Cash Flow | -$43.38M | $11.79M | $25.38M | -$1.99M | -$791K | $3.56M |
| Cash at Beginning | $58.75M | $69.59M | $58.73M | $1.27M | $5K | $1.09M |
| Cash at End | $82.38M | $58.75M | $69.59M | $49K | $1.27M | $5K |