MARKETS / BALCAO / HKHC
BALCAO · INVESTMENT ADVICE · SMALL CAP

Horizon Kinetics Holding Corporation HKHC

16 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY
Revenue · FY2025
$72.8M
▲ 30.5% vs FY2024
EPS · FY25
$0.27
Dividend / sh · FY25
Payout · FY25
124%
ROE · FY25
1.5%
Net margin · FY25
7.0%
Dividend coverage
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Result
USD 72.8M
Revenue, FY2025 · full 16-year series below
Revenue Net income
0.020.040.060.080.10.0201020132016201920222025
0.020.040.060.080.10.02016201920222025

7 cents of every revenue dollar became profit this year.

Per share
USD 0.27
Diluted EPS, FY2025
EPS
2460.27201020132016201920222025
2460.272016201920222025

The company pays no cash dividend.

Profitability
1.5%
Return on equity, FY2025
ROE
2040601.5%201020132016201920222025
2040601.5%2016201920222025
Operating margin15.2%
Net margin7.0%
Return on assets0.3%

Each USD of equity produced 2 cents of profit this year.

Returned to shareholders
USD 6.3M
returned in FY2025 · dividends + net buybacks
Dividends paidUSD 6.3M
Net buybacks
Share of profit123.8%
Consecutive raises

USD 6.3M in dividends — 124% of the year's profit, so the payout drew on cash built up earlier.

Growth
+20.3% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+190.2%
+20.3%
+9.6%
+11.4%
Net income
+0.7%
EPS, diluted
−3.9%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
0.02B
Shares outstanding, FY2025
0.010.02201020132016201920222025
0.010.022016201920222025
Change, 5 years+47.7%
Change, 10 years+59.1%

The share count grew 48% in five years — the same company, cut into more, smaller slices.

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Balance sheet
USD 2.0B
total assets, end of FY2025
Total assetsUSD 2.0B
EquityUSD 339.0M
CashUSD 36.9M

Equity funds 17% of total assets.

History
16 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
Revenue $B
0.1
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Operating income $B
0.0
−0.0
−0.0
−0.0
−0.0
−0.0
−0.0
0.0
0.0
0.0
0.0
0.0
0.0
−0.0
−0.0
−0.0
EBITDA $B
0.0
−0.0
0.0
−0.0
−0.0
−0.0
−0.0
0.0
0.0
0.0
0.0
0.0
0.0
−0.0
−0.0
·
Income tax $B
−0.0
0.1
−0.0
0.0
0.0
−0.0
−0.0
0.0
0.0
0.0
−0.0
0.0
0.0
0.0
0.0
·
Net income $B
0.0
0.1
−0.0
−0.0
−0.0
−0.0
−0.0
0.0
0.0
0.0
0.0
0.0
0.0
−0.0
−0.0
−0.0
EPS, diluted $
0.27
5.07
−0.25
−0.70
−0.88
−0.13
−0.05
0.18
0.38
0.15
0.40
0.18
0.06
−0.13
−0.06
−0.05
Dividend / sh $
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Payout %
124
1
·
·
·
·
·
·
·
·
·
·
·
·
·
·
ROE %
1.5
33.7
−2.1
−7.5
−65.2
−6.7
−2.8
9.8
24.9
12.2
41.2
26.1
9.9
−20.3
−8.2
−6.2
Shares out B
0.02
0.02
0.02
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
53 of 53
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed