AssetMark Financial Holdings, Inc. Stock Research

Market Summary

USD30.610.00

Market Closed

0.00%

AMK Alerts

2 major insider sales recently.
Big jump in Earnings (Y/Y)

AMK Stock Price

AMK RSI Chart

AMK Valuation

Market Cap

2.3B

Price/Earnings (Trailing)

21.89

Price/Sales (Trailing)

3.66

EV/EBITDA

12.25

Price/Free Cashflow

16.47

AMK Price/Sales (Trailing)

AMK Profitability

EBT Margin

20.13%

Return on Equity

8.2%

Return on Assets

6.14%

Free Cashflow Yield

6.07%

AMK Fundamentals

AMK Revenue

Revenue (TTM)

618.3M

Revenue Y/Y

14.31%

Revenue Q/Q

6.12%

AMK Earnings

Earnings (TTM)

103.3M

Earnings Y/Y

107.21%

Earnings Q/Q

-15%

Price Action

52 Week Range

16.8832.06

(Low)(High)

Last 7 days

-1.9%

Last 30 days

14.4%

Last 90 days

33.1%

Trailing 12 Months

34.4%

AMK Financial Health

Current Ratio

3.72

AMK Investor Care

Shares Dilution (1Y)

0.39%

Diluted EPS (TTM)

1.4

Peers (Alternatives to AssetMark Financial Holdings)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
BX	59.6B	8.5B	-7.66%	-30.88%	34.12	7	-62.27%	-70.16%
KKR	43.1B	5.7B	10.72%	-14.53%	-51.24	7.53	-64.76%	-118.02%
AMP	33.8B	14.3B	-14.12%	-5.25%	10.39	2.44	6.72%	-7.28%
BEN	13.2B	8.0B	-11.69%	-1.40%	13.1	1.64	-7.35%	-48.21%
MID-CAP
IVZ	6.8B	6.0B	-14.54%	-28.82%	10.01	1.13	-12.26%	-50.90%
HLI	5.7B	737.1M	-6.43%	-1.55%	47.02	7.72	-67.95%	-74.36%
AMG	5.2B	2.3B	-14.93%	-2.81%	4.56	2.24	-3.43%	102.56%
EVR	4.3B	2.8B	-11.84%	-2.49%	9.07	1.56	-15.97%	-35.62%
JHG	4.2B	2.2B	-7.69%	-22.74%	15.43	1.92	-20.36%	-55.18%
LAZ	3.1B	2.9B	-10.13%	-3.17%	8.54	1.07	-12.79%	-32.30%
AMK	2.3B	618.3M	14.39%	34.37%	21.89	3.66	16.60%	302.25%
SMALL-CAP
DHIL	487.1M	154.5M	-13.38%	-10.05%	12.05	3.15	-15.20%	-45.51%
VALU	463.9M	40.1M	-6.84%	-26.21%	26	11.57	-0.04%	-31.55%
SCU	209.1M	554.5M	1.08%	-38.21%	83.33	0.38	-42.93%	-98.83%
PZN	161.6M	197.7M	0.84%	-7.62%	4	0.82	5.01%	-33.91%

Financials for AssetMark Financial Holdings

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	3.4%	618	598	583	560	530
Operating Expenses	0.6%	475	472	473	464	482
S&GA Expenses	4.4%	90.00	86.00	83.00	78.00	73.00
EBITDA	9.4%	157	143	131	86.00	-
EBITDA Margin	6.7%	0.26*	0.25*	0.23*	0.16*	-
Earnings Before Taxes	13.7%	137	120	105	91.00	45.00
EBT Margin	12.1%	0.20*	0.18*	0.16*	0.08*	-
Interest Expenses	26.4%	7.00	5.00	5.00	4.00	4.00
Net Income	14.7%	103	90.00	72.00	57.00	26.00
Net Income Margin	21.6%	0.15*	0.12*	0.10*	0.05*	-
Free Cahsflow	-0.2%	128	129	138	127	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	2.4%	1,503	1,467	1,434	1,403	1,387
Current Assets	-6.3%	187	200	176	149	134
Cash Equivalents	-10.2%	123	137	117	99.00	77.00
Net PPE	13.8%	8.00	7.00	8.00	8.00	8.00
Goodwill	11.5%	487	437	437	437	437
Liabilities	1.8%	377	370	370	368	378
Current Liabilities	37.3%	74.00	54.00	53.00	49.00	59.00
LT Debt, Non Current	-1.4%	112	114	115	117	115
Shareholder's Equity	2.7%	1,126	1,097	1,063	1,035	1,009
Retained Earnings	16.2%	184	158	128	102	80.00
Additional Paid-In Capital	0.4%	943	939	935	932	929
Accumulated Depreciation	-	10.00	-	-	-	-
Shares Outstanding	0.0%	74.00	74.00	74.00	74.00	74.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	7.4%	140	131	131	140	129
Share Based Compensation	-11.4%	14.00	16.00	20.00	23.00	54.00
Cashflow From Investing	-107.7%	-94.99	-45.73	-161	-160	-160
Cashflow From Financing	-55.4%	1.00	3.00	-30.52	-38.61	40.00

Risks for AMK

What is the probability of a big loss on AMK?

67.0%

Probability that AssetMark Financial Holdings stock will be more than 20% underwater in next one year

45.4%

Probability that AssetMark Financial Holdings stock will be more than 30% underwater in next one year.

25.3%

Probability that AssetMark Financial Holdings stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does AMK drawdown profile look like?

Y-axis is the maximum loss one would have experienced if AssetMark Financial Holdings was unfortunately bought at previous high price.

Drawdowns

Returns for AMK

Cumulative Returns on AMK

24.1%

3-Year Cumulative Returns

Which funds bought or sold AMK recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	67.67	343,821	653,821	-%
2023-02-28	Voya Investment Management LLC	new	-	204,332	204,332	-%
2023-02-15	MCMORGAN & CO LLC	added	4.59	576,443	2,404,440	0.52%
2023-02-15	MetLife Investment Management, LLC	added	8.68	67,609	252,609	-%
2023-02-15	Altshuler Shaham Ltd	sold off	-100	-26,000	-	-%
2023-02-15	ALLIANCEBERNSTEIN L.P.	added	10.47	122,000	437,000	-%
2023-02-15	State of Wyoming	new	-	112,654	112,654	0.04%
2023-02-15	Metropolitan Life Insurance Co/NY	unchanged	-	6,337	30,337	-%
2023-02-14	STATE OF WISCONSIN INVESTMENT BOARD	reduced	-12.51	71,926	794,926	-%
2023-02-14	CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	added	1.2	137,021	640,021	-%

Latest Funds Activity

Are funds buying AMK calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own AMK

No. of Funds

AssetMark Financial Holdings News

AMK Fair Value

AssetMark Financial Holdings fair value in different scenarios

The table shows the Fair Value estimates for AssetMark Financial Holdings for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	12.97 -57.63%	16.11 -47.37%	21.39 -30.12%	26.42 -13.69%	29.70 -2.97%
Current Inflation	12.17 -60.24%	14.86 -51.45%	19.30 -36.95%	23.51 -23.20%	26.26 -14.21%
Very High Inflation	11.17 -63.51%	13.34 -56.42%	16.83 -45.02%	20.13 -34.24%	22.29 -27.18%

Historical AssetMark Financial Holdings Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of AssetMark Financial Holdings

View All Filings

Date Filed	Form Type	Document
Mar 17, 2023	4	Insider Trading
Mar 14, 2023	10-K	Annual Report
Mar 07, 2023	4	Insider Trading
Mar 07, 2023	4	Insider Trading
Feb 22, 2023	8-K	Current Report
Feb 10, 2023	13F-NT	13F-NT
Jan 31, 2023	4	Insider Trading
Dec 15, 2022	8-K	Current Report

Latest Insider Trading transactions for AMK

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-17	Kim Michael	gifted	-	-	250,000	president & cco
2023-03-17	Kim Michael	gifted	-	-	-250,000	president & cco
2023-03-06	Kim Michael	sold	-128,033	31.66	-4,044	president & cco
2023-03-06	Wolfsen Natalie Grace	sold	-175,555	31.66	-5,545	evp, chief executive officer
2023-01-03	Kim Michael	gifted	-	-	-3,300	president & cco
2023-01-03	Kim Michael	gifted	-	-	1,100	president & cco
2022-12-28	Kim Michael	gifted	-	-	294,664	president & cco
2022-12-28	Kim Michael	gifted	-	-	-294,664	president & cco
2022-07-15	Kim Michael	gifted	-	-	290,000	president & cco
2022-07-15	Kim Michael	gifted	-	-	-290,000	president & cco

About AssetMark Financial Holdings

Natalie G. Wolfsen

www.assetmark.com

870

AssetMark Financial Holdings, Inc. provides wealth management and technology solutions in the United States. It offers an open-architecture product platform, as well as client advice, asset allocation options, practice management, support services, and technology to the financial adviser channel. The company provides integrated technology platform for advisers for accessing a range of automated processes, including new account opening, portfolio construction, streamlined financial planning, customer billing, investor reporting, progress to goal analysis, and client activity tracking; advisory services; and curated investment platform. It also offers SaaS-based financial planning, wellness, and client digital engagement solutions. The company also offers mutual funds; custodial recordkeeping services primarily to investor clients of registered investment advisers; and wealth management services for individual investors. It serves independent advisers who provide wealth management advice to the U.S. investors and advisers. The company was founded in 1996 and is headquartered in Concord, California. AssetMark Financial Holdings, Inc. is a subsidiary of Huatai International Investment Holdings Limited.

AMK Income Statement

2022-12-31

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue:
Total revenue	$ 618,306	$ 530,299	$ 432,079
Operating expenses:
Asset-based expenses	154,100	150,836	132,695
Spread-based expenses	8,182	1,427	2,703
Employee compensation	166,330	196,701	176,483
General and operating expenses	90,122	72,941	62,466
Professional fees	25,186	21,813	15,100
Depreciation and amortization	31,149	37,929	35,126
Total operating expenses	475,069	481,647	424,573
Interest expense	6,520	3,559	5,588
Other (income) expense, net	(43)	106	1,687
Income before income taxes	136,760	44,987	231
Provision for income taxes	33,499	19,316	8,043
Net income (loss)	103,261	25,671	(7,812)
Change in fair value of convertible notes receivable, net	(157)
Net comprehensive income (loss)	$ 103,104	$ 25,671	$ (7,812)
Net income (loss) per share attributable to common stockholders:
Basic	$ 1.40	$ 0.36	$ (0.12)
Diluted	$ 1.40	$ 0.35	$ (0.12)
Weighted average number of common shares outstanding, basic	73,724,341	72,137,174	67,361,995
Weighted average number of common shares outstanding, diluted	73,872,828	72,399,213	67,361,995
Asset Based Revenue
Revenue:
Total revenue	$ 534,182	$ 512,188	$ 412,023
Spread Based Revenue
Revenue:
Total revenue	63,409	8,568	16,618
Subscription Based Revenue
Revenue:
Total revenue	13,020	6,381
Other Revenue
Revenue:
Total revenue	$ 7,695	$ 3,162	$ 3,438

AMK Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 123,274	$ 76,707
Restricted cash	13,000	13,000
Investments, at fair value	13,714	14,498
Fees and other receivables, net	20,082	9,019
Income tax receivable, net	265	6,276
Prepaid expenses and other current assets	16,870	14,673
Total current assets	187,205	134,173
Property, plant and equipment, net	8,495	8,015
Capitalized software, net	89,959	73,701
Other intangible assets, net	694,627	695,093
Operating lease right-of-use assets	22,002	22,469
Goodwill	487,225	447,864
Other assets	13,417	2,090
Total assets	1,502,930	1,383,405
Current liabilities:
Accounts payable	4,624	2,613
Accrued liabilities and other current liabilities	69,196	56,249
Total current liabilities	73,820	58,862
Long-term debt, net	112,138	115,000
Other long-term liabilities	15,185	16,468
Long-term portion of operating lease liabilities	27,924	28,316
Deferred income tax liabilities, net	147,497	155,373
Total long-term liabilities	302,744	315,157
Total liabilities	376,564	374,019
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.001 par value (675,000,000 shares authorized and 73,847,596 and 73,562,717 shares issued and outstanding as of December 31, 2022 and 2021, respectively)	74	74
Additional paid-in capital	942,946	929,070
Retained earnings	183,503	80,242
Accumulated other comprehensive loss	(157)
Total stockholders’ equity	1,126,366	1,009,386
Total liabilities and stockholders’ equity	$ 1,502,930	$ 1,383,405