Start here if you're new
what it is
Silvercrest manages money for rich families and institutions, then collects recurring fees on the assets they keep there.
how it gets paid
Last year Silvercrest Asset made $124M in revenue.
why it's growing
Revenue grew 286.9% last year. EDGAR shows latest-quarter revenue of $93M, up 198% vs. prior year, with EPS of $0.55, up 686%.
what just happened
The quarter looked huge on paper: revenue hit $93M and EPS reached $0.55, but the real story is whether that scale holds.
At a glance
B+ balance sheet — decent shape, but not bulletproof
55/100 earnings predictability — expect surprises
17.4x trailing p/e — the market's not buying it — or you found a deal
5.9% dividend yield — cash in your pocket every quarter
11.9% return on capital — nothing to write home about
xvary composite: 49/100 — below average
What they do
Silvercrest manages money for rich families and institutions, then collects recurring fees on the assets they keep there.
This business is sticky because money management is really trust management. Once your family, taxes, and portfolio are tied into one advisor, leaving is a paperwork migraine. Silvercrest had $36.5 billion in assets under management as of September 30, 2025, spread across just 160 employees, or about $228 million per employee. That is assets under management (client money on the platform) → fee base → so what: even small fee rates can support a 17.6% operating margin.
How they make money
$124M
annual revenue · their business grew +286.9% last year
total revenue
$124M
+286.9%
The products that matter
manages client portfolios
Discretionary Asset Management
$120.6M of fees · roughly 96% of revenue
this is the core business. It generated $120.6M out of $125.3M total revenue, so when markets move or clients add assets, this line does the work.
core fee engine
wealth planning and administration
Family Office Services
$4.7M of fees · roughly 4% of revenue
it deepens client relationships, but at $4.7M it is too small to carry the income statement for you. It supports the franchise more than it changes the math.
relationship glue
Key numbers
$36.5B
assets managed
Assets under management (client money on the platform) → fee base → so what: this is the pile of money that feeds almost all of Silvercrest's revenue.
5.9%
dividend yield
Dividend yield (cash paid back to shareholders each year) → income in your pocket → so what: you are getting paid while waiting for asset growth to show up.
17.6%
operating margin
Operating margin (profit left after running the business) → earnings quality → so what: Silvercrest keeps about 18 cents from each revenue dollar before taxes and other items.
$19M
long-term debt
Long-term debt (borrowed money due over years) → balance-sheet pressure → so what: it is only 10% of capital, which limits financial strain.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 4 — safer than 20% of stocks
- price stability 70 / 100
- long-term debt $19M (10% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for SAMG right now.
source: institutional data · return history unavailable
What just happened
beat estimates
The quarter looked huge on paper: revenue hit $93M and EPS reached $0.55, but the real story is whether that scale holds.
EDGAR shows latest-quarter revenue of $93M, up 198% vs. prior year, with EPS of $0.55, up 686%. Against that, Value Line's full-year EPS history shows 2024 finished at $1.00, so you should watch for normalization after the spike.
$93M
revenue
$0.55
eps
17.6%
operating margin
the number that mattered
$36.5B of AUM mattered most because fee businesses live on asset balances, and that asset pile is what turns into future revenue.
source: company earnings report, 2026
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What could go wrong
the #1 risk is expense growth outrunning fee growth.
med
expense growth outrunning fee growth
Revenue reached $125.3M in 2025, but net income fell to $8.1M. That tells you more of each revenue dollar is being spent before it reaches you as earnings.
At a 6.5% net margin, there is not much room for more cost drift.
med
market-linked fee revenue
$120.6M of the $125.3M top line came from management and advisory fees. If markets stall or clients pull assets, your core revenue feels it fast.
This risk touches roughly 96% of revenue.
med
governance insulation
The classified board structure gives management more breathing room from shareholder pressure. For you, that means slower accountability if operating results stay soft.
This does not hit revenue tomorrow, but it can delay needed changes.
With $120.6M of $125.3M revenue tied to management and advisory fees, you are exposed to both market direction and cost control at the same time.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
net income recovery above $8.1M
This is the number that matters. If profit stays stuck near $8.1M while assets stay near $37B, the business is not converting scale into shareholder value.
calendar
next earnings release
The next report needs to show more than stable fees. You want to see whether management can slow expense growth after last year's profit squeeze.
trend
organic new client accounts
Q4 added $124.5M of organic new client accounts. Good start. You need that number to build if the firm wants fee growth without depending only on markets.
risk
buyback execution versus dividend optics
A $25M repurchase sounds assertive. If earnings stay thin, capital return can start to look like makeup on a margin problem instead of a fix.
Analyst rankings
earnings predictability
55 / 100
in human-speak, analysts do not see this as a smooth earnings story. Expect a few surprises.
price stability
70 / 100
the stock price has been steadier than the income statement. That helps the yield story, but it does not fix the business model questions.
source: institutional data
Institutional activity
institutional ownership data for SAMG is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$16
current price
n/a
target midpoint · n/a from current
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