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BALCAO · INVESTMENT ADVICE · SMALL CAP

Horizon Kinetics Holding Corp. HKHC

16 fiscal years on record · USD · FY2025 reported · SEC filings only
$72.8M
▲ 30.5% YoY
$5.1M
▼ 94.5% YoY
$-43.4M
▼ 468.0% YoY
In brief

What this company does

Horizon Kinetics Holding Corporation, through its wholly-owned registered investment advisor, Horizon Kinetics Asset Management LLC, is an investment advisory and independent research firm. Horizon Kinetics is a fundamental value, contrarian-oriented investment advisor. Horizon Kinetics offers investment strategies through third-party investment products, including mutual funds, third-party exchange-traded funds (ETFs), institutional and retail separate accounts and other private funds and investment vehicles. As of December 31, 2025, Horizon Kinetics had 81 employees, 20 of whom were considered investment professionals. Its principal executive offices are located at 470 Park Avenue South, New York, New York 10016.

Written from the business description in Horizon Kinetics Holding Corp's annual report to the U.S. Securities and Exchange Commission, filed 12 March 2026. Every sentence was checked against that document before publication.

Growth
USD 72.8M
Revenue, FY2025 · full 16-year series below
Revenue $M Net income $M
FY2025 · Revenue 72.8 · Net income 5.1
40M80M-4M-8M201020122014201620182020202220242025
Compound annual growth
+190.2%
+20.3%
+9.6%
+11.4%
+0.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +20.3% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
8 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 15.2% · Net 8.2%
500%1000%-100%-200%-300%201020122014201620182020202220242025
ROE
FY2025 · ROE 1.5%
20%40%-20%-40%-60%201020122014201620182020202220242025
Gross margin—
Operating margin15.2%
Net margin8.2%
Return on assets0.3%
EBITDAUSD 12.2M

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

Cash & shareholders
USD 6.3M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -43.4
10M20M-20M-40M201020122014201620182020202220242025
Net buybacks $M Dividends $M
FY2025 · Dividends 6.3 · Net buybacks —
2.5M5.0M20242025
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.

Total assetsUSD 2.0B
EquityUSD 339.0M
CashUSD 36.9M

Equity funds 17% of total assets.

The 16-year record
16 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016201520142013201220112010
Revenue $B0.10.10.00.00.00.00.00.00.00.00.00.00.00.00.00.0
Operating income $B0.0−0.0−0.0−0.0−0.0−0.0−0.00.00.00.00.00.00.0−0.0−0.0−0.0
EBITDA $B0.0−0.00.0−0.0−0.0−0.0−0.00.00.00.00.00.00.0−0.0−0.0·
Income tax $B−0.00.1−0.00.00.0−0.0−0.00.00.00.0−0.00.00.00.00.0·
Net income $B0.00.1−0.0−0.0−0.0−0.0−0.00.00.00.00.00.00.0−0.0−0.0−0.0
Free cash flow $B−0.00.00.0··0.00.00.00.00.00.00.0−0.0−0.00.00.0
EPS, diluted $0.275.07−0.25−0.70−0.88−0.13−0.050.180.380.150.400.180.06−0.13−0.06−0.05
Dividend / sh $················
Payout %1241··············
ROE %1.533.7−2.1−7.5−65.2−6.7−2.89.824.912.241.226.19.9−20.3−8.2−6.2
Shares out B0.020.020.020.010.010.010.010.010.010.010.010.010.010.010.010.01

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 69 reconciliationsAUDITED

Reconciled in 16 of 19 fiscal years. 19 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityInvestment Advice
Listed onOTC market
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2010

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