Filing Flows › Westwood Holdings Group (WHG) › Q3 2025
Westwood Holdings Group (WHG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Westwood Holdings Group (WHG) reported revenue of $24.3M for the third quarter 2025 (Q3 2025), +2% from a year earlier and +5% from the quarter before. Operating margin was 8.3%, net earnings $3.7M (15.4% of revenue).
Westwood Holdings Group, Q3 2025: revenue $24.3M (+2% year over year), operating margin 8.3%, net earnings $3.7M, operating cash flow $8.5M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $24.3M | +5% | +2% |
| Operating profit | $2.0M | +131% | — |
| Net earnings | $3.7M | +262% | 23× |
| Operating cash flow | $8.5M | +17% | 16× |
| Free cash flow | $8.5M | +16% | 16× |
What changed
Revenue was $24.3M in Q3 2025, up 2% year over year and up 5% from the previous quarter. Asset Management was the largest line at 78% of revenue. Asset Management added $1.1M year over year (up 6%), 195% of the total change. Fiduciary and Trust declined 1%.
Operating profit was $2.0M, a 8.3% margin (up 10.4 points year over year). Total costs fell 8% while revenue rose 2%. Net earnings were $3.7M, up 2245% year over year. The effective tax rate was 20.5%. Non-operating items added $2.7M, 57% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $8.5M (up 1514% year over year), 229% of net earnings. Non-cash charges added back $1.2M of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items added $2.3M. Capital expenditures of $76K left free cash flow of $8.5M.
Questions
What was Westwood Holdings Group's revenue in the third quarter 2025?
Westwood Holdings Group (WHG) reported revenue of $24.3M for the third quarter 2025 (Q3 2025), +2% from a year earlier and +5% from the quarter before.
Was Westwood Holdings Group profitable in the third quarter 2025?
Operating profit was $2.0M (8.3% of revenue) and net earnings $3.7M.