Filing Flows › Westwood Holdings Group (WHG) › Q4 2025
Westwood Holdings Group (WHG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 4, 2026
Westwood Holdings Group (WHG) reported revenue of $27.1M for the fourth quarter 2025 (Q4 2025), +32% from a year earlier and +12% from the quarter before. Operating margin was 8.0%, net earnings $1.9M (6.9% of revenue).
Westwood Holdings Group, Q4 2025: revenue $27.1M (+32% year over year), operating margin 8.0%, net earnings $1.9M, operating cash flow $8.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $27.1M | +12% | +32% |
| Operating profit | $2.2M | +8% | -16% |
| Net earnings | $1.9M | -50% | — |
| Operating cash flow | $8.0M | -7% | -10% |
| Free cash flow | $8.0M | -6% | -10% |
What changed
Revenue was $27.1M in Q4 2025, up 32% year over year and up 12% from the previous quarter.
Operating profit was $2.2M, a 8.0% margin (down 4.5 points year over year). Operating profit fell $397K even though revenue rose $6.6M versus a year earlier, so costs grew faster than sales. Total costs grew 39% against revenue growth of 32%. The fastest-growing cost line was Other operating costs (+52%). Net earnings were $1.9M ($1.8M including minority interests, which bore $40K of losses). The effective tax rate was 37.1%. Non-operating items added $761K, 26% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $8.0M (down 10% year over year), 434% of net income including minority interests. Non-cash charges added back $927K of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items added $4.0M. Capital expenditures of $4K left free cash flow of $8.0M.
Questions
What was Westwood Holdings Group's revenue in the fourth quarter 2025?
Westwood Holdings Group (WHG) reported revenue of $27.1M for the fourth quarter 2025 (Q4 2025), +32% from a year earlier and +12% from the quarter before.
Was Westwood Holdings Group profitable in the fourth quarter 2025?
Operating profit was $2.2M (8.0% of revenue) and net earnings $1.9M.