Cohen & Company Inc (COHN) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Cohen & Company Inc $13.46, price $10.11, upside +33.2%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $2.24 – $28.10 · fair‑value band $3.24 – $25.93 · the $10.11 price screens below the $13.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Cohen & Company Inc. is a publicly owned investment manager. The firm primarily provides its services to individuals and institutions. It manages separate client-focused fixed income portfolios. Institutional Financial Markets, Inc. also manages funds and collateralized debt obligations for its clients.
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Cohen & Company Inc. is a publicly owned investment manager. The firm primarily provides its services to individuals and institutions. It manages separate client-focused fixed income portfolios. Institutional Financial Markets, Inc. also manages funds and collateralized debt obligations for its clients. It invests in the fixed income and alternative investment markets across the globe. The firm's fixed income investments include U.S. trust preferred securities, European hybrid capital securities, Asian commercial real estate debt, mortgage backed securities, and asset backed securities. The firm was formerly known as Institutional Financial Markets, Inc. Cohen & Company Inc. was founded in 1999 and is based in Philadelphia, Pennsylvania with additional offices in New York City; Boca Raton, Florida; Chicago, Illinois; Bethesda, Maryland; Boston, Massachusetts; Paris, France; and London, United Kingdom.
Stock analysis
Cohen & Company Inc (COHN) currently trades at $10.11, while our model-based Fair Value estimate is $13.46, implying the stock looks roughly 24.9% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of $59.48 per share, and 13 of the 13 models we run sit above the $10.11 price.
Bear case: the Dividend Discount group reads lowest at $12.84, and 0 of the 13 models stay below the price. Evidence for this calculation is medium.
Scenario range: $3.24 (bear) to $25.93 (bull), the price of $10.11 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 57/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Cohen & Company Inc reported revenue of $278M in FY2025 versus $146M in FY2021, a compound +17.4%/yr. Reported net income was $14.4M in FY2025, compounding +5.1%/yr from FY2021.
Key figures
Market cap $29.4M · P/E ratio 2.2 · P/S ratio 0.11 · EPS (TTM) $4.58 · Dividend yield 9.9% · Net margin 5.2% · Return on equity 45.9% · Return on assets (EBIT) 1.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 64% below its 52-week high and 27% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −17% fair-value upside, at 33%, COHN screens cheaper than that median.
Fair Value models
Bear $3.24Fair Value $13.46Bull $25.93
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($2.63 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+249.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+84.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.4%
Start year 2020 (pandemic). Over 10 years: +19.7% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
−20.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−30.6%
Dividend (yield on the price)9.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−22% vs 7%, slowing
Profit margin 2019 to 2024 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → −10%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+3.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +0.9% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Capital Markets · 460 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+33% · Above median
Profitability
Return on equity (TTM)46% · Top 25%
Return on assets5% · Top 25%
Net margin (TTM)5% · Below median
Operating margin (TTM)7% · Below median
Growth and dividend
Revenue growth107% · Top 25%
Dividend yield (TTM)9.9% · Top 25%
Balance sheet
Debt / equity0.64× · Highest 25%
Valuation Multiplesvs Capital Markets median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Cohen & Company Inc Fair Value". https://www.fairvalue-calculator.com/stock/COHN
Frequently asked questions
Is Cohen & Company Inc (COHN) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $13.46 versus a price of $10.11, about +33% upside (undervalued).
What is the fair value of COHN?
Our model-based fair value for Cohen & Company Inc is $13.46 (as of Sep 23, 2026), built from audited fundamentals. The current price: $10.11.
What is the quality score of COHN?
Cohen & Company Inc has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Cohen & Company Inc (COHN)?
Our model-based price target is the fair value of $13.46 (as of Sep 23, 2026) from 13 valuation models. Cautious scenario $3.24, optimistic scenario $25.93. It is a calculation from audited fundamentals, not an analyst target.
What is the Cohen & Company Inc stock forecast for 2026?
Our models put fair value at $13.46, about +33% upside versus a price of $10.11 (undervalued). Cautious scenario $3.24, optimistic scenario $25.93. The calculation is refreshed regularly with new filings.
What is the revenue of Cohen & Company Inc (COHN)?
Cohen & Company Inc reported trailing-twelve-month revenue of about $299M (latest available figure, as of Sep 23, 2026).
Does Cohen & Company Inc pay a dividend?
Cohen & Company Inc currently shows a dividend yield of about 9.90% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Cohen & Company Inc (COHN)?
For today's price to be fair in a discounted-cash-flow model, Cohen & Company Inc would have to grow free cash flow by +3.3 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.4 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of COHN use?
Our models discount Cohen & Company Inc at 10.1 %: a base by market capitalisation (nano), damped by beta 1.14, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Cohen & Company Inc that is +3.3 % per year a year over ten years, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Cohen & Company Inc (COHN) delivered so far?
Over the past 5 years revenue at Cohen & Company Inc grew +16.4 % a year. The price currently implies +3.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Cohen & Company Inc (COHN) growing?
The median revenue growth in the sector is +8.5 % a year. That is the yardstick for the growth priced into Cohen & Company Inc (+3.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Cohen & Company Inc (COHN)?
The free-cash-flow yield on the price is 43.16 %: that much free cash flow Cohen & Company Inc produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cohen & Company Inc (COHN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cohen & Company Inc it is $13.46 per share (as of Sep 23, 2026), against a price of $10.11. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Cohen & Company Inc stock overvalued or undervalued in 2026?
As of Sep 23, 2026, COHN trades below its calculated fair value: price $10.11, fair value $13.46, a gap of about +33% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of COHN?
No. The price is what the market pays today ($10.11); the fair value is what the company's own numbers justify ($13.46). For Cohen & Company Inc the two are $3.35 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cohen & Company Inc worth?
The market values Cohen & Company Inc at about $29.4M (market capitalisation, as of Sep 23, 2026). Per share that is $10.11; our models calculate a fair value of $13.46 per share.
What do the bullish and bearish scenarios say about COHN?
Our models span a range for Cohen & Company Inc: cautious scenario $3.24, base $13.46, optimistic $25.93 per share (as of Sep 23, 2026, price $10.11). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of COHN?
Cohen & Company Inc trades at a price-to-earnings ratio of 2.2 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $13.46 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 15.6 (reported for FY2025: 4.2). Other multiples: P/B 0.6, P/S 0.1.
How solid is the balance sheet of Cohen & Company Inc (COHN)?
Balance-sheet figures for Cohen & Company Inc (as of Sep 23, 2026): return on equity 45.9%, debt of 0.64 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is COHN from its 52-week high?
Cohen & Company Inc trades at $10.11, about 64% below its 52-week high of $28.10 and 27% above the low of $7.94 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of $13.46 is for.
Which stocks are comparable to Cohen & Company Inc?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Cohen & Company Inc stock attractive at the current price?
The data as of Sep 23, 2026: price $10.11, calculated fair value $13.46 (+33%), Quality Score 57/100, from 13 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of COHN calculated?
We run Cohen & Company Inc through 13 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $13.46, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. Cohen & Company Inc currently trades 33 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Cohen & Company Inc (COHN)?
The closing price on Sep 24, 2026 was $10.11. Our model-based fair value is $13.46, about +33% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cohen & Company Inc right now?
The model range is unusually wide ($3.24 to $25.93). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Cohen & Company Inc
How large is the market capitalisation of Cohen & Company Inc (COHN)?
The market capitalisation of Cohen & Company Inc is $29.4M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Cohen & Company Inc (COHN)?
The price-to-sales ratio of Cohen & Company Inc is 0.11 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cohen & Company Inc (COHN)?
Earnings per share at Cohen & Company Inc are $4.58 (price ÷ EPS = P/E 2.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Cohen & Company Inc (COHN)?
The dividend yield of Cohen & Company Inc is 9.9% (payout 21.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Cohen & Company Inc (COHN)?
The net margin of Cohen & Company Inc is 5.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Cohen & Company Inc (COHN)?
The return on equity (ROE) of Cohen & Company Inc is 45.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Cohen & Company Inc (COHN)?
On an EBIT basis the return on assets of Cohen & Company Inc is 1.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Cohen & Company Inc (COHN)?
The operating margin of Cohen & Company Inc is 6.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cohen & Company Inc (COHN)?
Revenue at Cohen & Company Inc is growing +107% versus a year earlier (3y avg +84.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Cohen & Company Inc (COHN)?
Earnings per share at Cohen & Company Inc are growing +121% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Cohen & Company Inc (COHN) hold?
Cohen & Company Inc holds more cash than debt, $6.9M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Sep 23, 2026