Cohen & Company Inc. (COHN) Balance Sheet
COHN balance sheet, 2025
December 31, 2025 · U.S. dollars$700.6M assets = $597.5M liabilities + $103.1M equity
Both columns are drawn to the same scale: what COHN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
COHN financial health
Descriptive bands, not a rating. Fiscal 2025.
COHN balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $561.3M2016 | $700.6M2025 | +2.5%/yr | |
| Total liabilities | $514.5M2016 | $597.5M2025 | +1.7%/yr | |
| Shareholders’ equity | $38.8M2016 | $51.1M2025 | +3.1%/yr | |
| Cash & short-term investments | $172.4M2016 | $192.7M2025 | +1.2%/yr | |
| Total debt | $325.0M2016 | $49.9M2025 | −18.8%/yr | |
| Net cash (debt) | −$152.6M2016 | $142.8M2025 | +$295.4M | |
| Working capital | $149.8M2016 | $591.5M2025 | +$441.7M | |
| Book value per share | $22.002016 | $8.542025 | −10.0%/yr | |
| Debt / equity | 8.382016 | 0.982025 | −7.40 | |
| Shares outstanding | 1.8M2016 | 6.0M2025 | +14.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
COHN assets
COHN liabilities and equity
COHN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
COHN balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $192.7M | $163.1M | $181.4M | $236.3M | $273.2M | $285.0M | $316.2M | $315.3M | $225.2M | $172.4M |
| Cash & equivalents | $56.8M | $19.6M | $10.7M | $29.1M | $50.6M | $42.0M | $8.3M | $14.1M | $22.9M | $15.2M |
| Short-term investments | $135.9M | $143.5M | $170.7M | $207.2M | $222.6M | $243.0M | $307.9M | $301.2M | $202.3M | $157.2M |
| Receivables | $413.6M | $721.1M | $484.2M | $584.4M | $3.25B | $5.77B | $7.60B | $7.77B | $1.79B | $367.5M |
| Inventory | $0 | $0 | −$7.4M | −$6.3M | −$223.7M | −$242.9M | −$48.2M | −$2.0M | −$1.8M | −$3.6M |
| Other current assets | $3.1M | $3.3M | $9.9M | $12.7M | $225.7M | $246.2M | $90.1M | $0 | $3.1M | $4.4M |
| Total current assets | $609.4M | $887.5M | $668.2M | $827.0M | $3.53B | $6.06B | $7.96B | $5.63B | $2.01B | $540.7M |
| Property, plant & equipment (net) | $17.9M | $17.5M | $8.8M | $11.1M | $11.7M | $6.1M | $7.2M | $1.1M | $392,000 | $498,000 |
| Goodwill & intangible assets | $275,000 | $275,000 | $275,000 | $275,000 | $275,000 | $275,000 | $8.2M | $8.2M | $8.2M | $8.2M |
| Long-term investments | $41.1M | $36.7M | $156.2M | $37.0M | $84.8M | $256.4M | $311.7M | $301.2M | $202.3M | $157.2M |
| Other non-current assets | $31.9M | $29.1M | $0 | $11.7M | $32.7M | $0 | $0 | $0 | $0 | $0 |
| Total assets | $700.6M | $971.1M | $772.8M | $887.1M | $3.66B | $6.15B | $8.00B | $5.65B | $2.04B | $561.3M |
| Liabilities | ||||||||||
| Accounts payable | $704,000 | $812,000 | $1.2M | $4.1M | $122,000 | $162,000 | $362,000 | $6.2M | $2.2M | $326,000 |
| Short-term debt | $400.4M | $702.5M | $439.3M | $452.8M | $3.17B | $5.71B | $7.7M | $5.21B | $1.69B | $295.4M |
| Deferred revenue | — | — | — | $6.9M | $9.5M | $7.4M | $1.3M | $721,000 | −$91.9M | −$85.1M |
| Total current liabilities | $17.9M | $10.9M | $8.1M | $14.7M | $22.8M | $5.92B | $7.80B | $5.42B | $1.83B | $390.9M |
| Long-term debt | $32.9M | $101.6M | $140.8M | $29.0M | $43.4M | $47.1M | $48.9M | $43.5M | $44.2M | $29.5M |
| Lease obligations | $17.0M | $16.6M | $8.2M | $10.4M | $10.8M | $6.5M | $7.7M | — | — | — |
| Other long-term liabilities | $546.7M | $768.4M | $532.0M | $749.3M | $3.44B | $18.5M | $108.0M | $144.8M | $115.9M | $94.1M |
| Total liabilities | $597.5M | $880.9M | $681.0M | $793.0M | $3.50B | $6.05B | $7.95B | $5.61B | $1.99B | $514.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $21,000 | $20,000 | $19,000 | $17,000 | $17,000 | $13,000 | $12,000 | $12,000 | $69.2M | $69.4M |
| Retained earnings (deficit) | −$26.6M | −$34.0M | −$32.0M | −$25.2M | −$9.2M | −$20.3M | −$34.5M | −$31.9M | −$28.5M | −$29.6M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$914,000 | −$1.0M | −$944,000 | −$955,000 | −$905,000 | −$821,000 | −$915,000 | −$908,000 | −$850,000 | −$1.1M |
| Minority interest | $52.0M | $48.6M | $50.1M | $47.3M | — | $57.5M | $15.4M | $6.7M | $8.3M | $8.0M |
| Total shareholders' equity | $51.1M | $41.7M | $41.7M | $46.7M | $61.9M | $43.9M | $33.3M | $35.8M | $39.9M | $38.8M |
| Key figures | ||||||||||
| Total debt | $49.9M | $118.1M | $149.0M | $624.0M | $3.39B | $5.77B | $7.59B | $5.25B | $1.74B | $325.0M |
| Net cash (debt) | $142.8M | $45.0M | $32.4M | −$387.8M | −$3.11B | −$5.48B | −$7.27B | −$4.94B | −$1.51B | −$152.6M |
| Working capital | $591.5M | $876.6M | $660.0M | $812.3M | $3.50B | $144.8M | $163.4M | $205.4M | $185.7M | $149.8M |
| Tangible book value | $50.8M | $41.5M | $41.4M | $46.5M | $61.7M | $43.6M | $25.2M | $27.6M | $31.7M | $30.6M |
| Book value per share | $8.54 | $7.35 | $27.54 | $32.91 | $40.27 | $28.55 | $19.82 | $21.24 | $15.38 | $22.00 |
| Shares outstanding | 6.0M | 5.7M | 1.5M | 1.4M | 1.5M | 1.5M | 1.7M | 1.7M | 2.6M | 1.8M |
| Current ratio | 33.96 | 81.32 | 82.34 | 56.34 | 154.55 | 1.02 | 1.02 | 1.04 | 1.10 | 1.38 |
| Quick ratio | 33.79 | 81.02 | 82.02 | 55.91 | 154.46 | 1.02 | 1.02 | 1.49 | 1.10 | 1.38 |
| Debt / equity | 0.98 | 2.83 | 3.58 | 13.35 | 54.67 | 131.34 | 227.83 | 146.87 | 43.55 | 8.38 |
| Equity / assets | 7.3% | 4.3% | 5.4% | 5.3% | 1.7% | 0.7% | 0.4% | 0.6% | 2.0% | 6.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $213.2M | $158.4M | $192.7M | $161.4M | $159.4M | $136.9M | $163.1M | $114.8M | $129.4M | $173.4M | $181.4M | $206.8M |
| Cash & equivalents | $40.1M | $19.0M | $56.8M | $54.7M | $26.0M | $14.0M | $19.6M | $14.3M | $9.6M | $11.8M | $10.7M | $13.3M |
| Short-term investments | $173.1M | $139.5M | $135.9M | $106.7M | $133.4M | $122.9M | $143.5M | $100.5M | $119.8M | $161.6M | $170.7M | $193.5M |
| Receivables | $64.3M | $406.8M | $413.6M | $510.2M | $863.6M | $757.9M | $721.1M | $634.4M | $621.2M | $779.5M | $484.2M | $527.8M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $635.8M | −$123.0M | −$165.9M | −$181.3M | −$193.5M |
| Other current assets | $409.4M | $8.7M | $3.1M | $3.3M | $2.9M | $3.0M | $3.3M | $0 | $126.1M | $168.4M | $183.9M | $195.8M |
| Total current assets | $686.8M | $574.0M | $609.4M | $674.9M | $1.03B | $897.8M | $887.5M | $752.0M | $753.7M | $955.4M | $668.2M | $736.9M |
| Property, plant & equipment (net) | $14.8M | $17.9M | $17.9M | $18.1M | $17.0M | $17.2M | $17.5M | $8.9M | $8.1M | $8.3M | $8.8M | $9.4M |
| Goodwill & intangible assets | $384,000 | $275,000 | $275,000 | $275,000 | $275,000 | $275,000 | $275,000 | $275,000 | $275,000 | $275,000 | $275,000 | $275,000 |
| Long-term investments | $31.4M | $37.4M | $41.1M | $48.1M | $39.5M | $36.7M | $36.7M | $40.5M | $126.4M | $159.6M | $156.2M | $49.1M |
| Other non-current assets | $67.0M | $54.6M | $31.9M | $32.4M | $49.0M | $26.1M | $29.1M | $16.4M | $0 | $0 | $0 | $5.3M |
| Total assets | $800.4M | $684.1M | $700.6M | $773.9M | $1.13B | $978.0M | $971.1M | $818.0M | $826.0M | $1.06B | $772.8M | $801.0M |
| Liabilities | ||||||||||||
| Accounts payable | $10.5M | $843,000 | $704,000 | $1.1M | $1.1M | $713,000 | $812,000 | $626,000 | $1.2M | $958,000 | $1.2M | $1.2M |
| Short-term debt | $16.3M | $402.4M | $400.4M | $457.1M | $817.5M | $712.9M | $702.5M | $548.8M | $551.5M | $700.3M | $418.2M | $8.8M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$8.8M | $2.0M | — | — |
| Total current liabilities | $214.8M | $19.5M | $17.9M | $10.4M | $8.4M | $7.2M | $10.9M | $7.5M | $7.3M | $10.5M | $8.1M | $136.0M |
| Long-term debt | $78.4M | $51.4M | $32.9M | $66.6M | $112.3M | $111.2M | $101.6M | $88.5M | $96.8M | $140.6M | $140.8M | $29.5M |
| Lease obligations | $16.3M | $16.8M | $17.0M | $17.4M | $16.3M | $16.5M | $16.6M | $7.8M | $7.2M | $7.6M | $8.2M | $8.8M |
| Other long-term liabilities | $395.1M | $513.1M | $546.7M | $595.9M | $918.5M | $774.0M | $768.4M | $621.4M | $626.3M | $796.9M | $532.0M | $562.8M |
| Total liabilities | $691.1M | $584.0M | $597.5M | $672.8M | $1.04B | $892.4M | $880.9M | $717.4M | $730.4M | $948.0M | $681.0M | $728.3M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $32,000 | $25,000 | $21,000 | $21,000 | $21,000 | $21,000 | $20,000 | $19,000 | $19,000 | $19,000 | $19,000 | $18,000 |
| Retained earnings (deficit) | −$24.7M | −$27.5M | −$26.6M | −$29.4M | −$33.5M | −$34.5M | −$34.0M | −$31.7M | −$33.4M | −$30.6M | −$32.0M | −$36.2M |
| Accumulated other comprehensive income | −$1.1M | −$943,000 | −$914,000 | −$915,000 | −$915,000 | −$986,000 | −$1.0M | −$948,000 | −$977,000 | −$969,000 | −$944,000 | −$972,000 |
| Minority interest | $46.0M | $48.6M | $52.0M | $53.2M | $49.1M | — | — | — | — | — | — | — |
| Total shareholders' equity | $63.3M | $51.5M | $51.1M | $47.8M | $43.4M | $42.0M | $41.7M | $43.8M | $41.7M | $43.8M | $41.7M | $37.2M |
| Key figures | ||||||||||||
| Total debt | $45.1M | $68.1M | $49.9M | $83.9M | $128.6M | $127.8M | $118.1M | $96.3M | $104.0M | $148.2M | $149.0M | $38.3M |
| Net cash (debt) | $168.1M | $90.3M | $142.8M | $77.5M | $30.8M | $9.1M | $45.0M | $18.5M | $25.4M | $25.2M | $32.4M | $168.6M |
| Working capital | $472.1M | $554.4M | $591.5M | $664.6M | $1.02B | $890.6M | $876.6M | $744.5M | $746.4M | $944.9M | $660.0M | $601.0M |
| Tangible book value | $62.9M | $51.2M | $50.8M | $47.6M | $43.1M | $41.7M | $41.5M | $43.5M | $41.4M | $43.5M | $41.4M | $36.9M |
| Book value per share | $10.13 | $8.44 | $8.32 | $7.93 | $7.33 | $7.23 | $7.27 | $7.56 | $7.33 | $7.75 | $27.23 | $6.71 |
| Shares outstanding | 6.2M | 6.1M | 6.1M | 6.0M | 5.9M | 5.8M | 5.7M | 5.8M | 5.7M | 5.6M | 1.5M | 5.5M |
| Current ratio | 3.20 | 29.36 | 33.96 | 65.08 | 122.52 | 124.85 | 81.32 | 100.62 | 103.48 | 90.64 | 82.34 | 5.42 |
| Quick ratio | 1.29 | 28.92 | 33.79 | 64.76 | 122.17 | 124.42 | 81.02 | 100.23 | 103.06 | 90.40 | 82.02 | 5.40 |
| Debt / equity | 0.71 | 1.32 | 0.98 | 1.75 | 2.97 | 3.04 | 2.83 | 2.20 | 2.50 | 3.39 | 3.58 | 1.03 |
| Equity / assets | 7.9% | 7.5% | 7.3% | 6.2% | 3.8% | 4.3% | 4.3% | 5.4% | 5.0% | 4.1% | 5.4% | 4.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 6, 2026); data from EODHD.
COHN financial position
At the end of fiscal 2025 (December 31, 2025), Cohen & had total assets of $700.6 million (down 27.9% from a year earlier), total liabilities of $597.5 million and shareholders' equity of $51.1 million. It held $192.7 million in cash and short-term investments against $49.9 million of debt, a net cash position of $142.8 million. Its current ratio was 33.96. In the latest quarter (ended June 30, 2026) total assets were $800.4 million and equity $63.3 million.
Related: COHN income statement, COHN cash flow statement, COHN key metrics. See the COHN stock overview for the latest quote and news.
COHN balance sheet FAQ
What are Cohen &'s total assets?
Cohen & reported total assets of $700.6 million at the end of fiscal 2025 (December 31, 2025), compared with $971.1 million a year earlier.
How much debt does Cohen & have?
Cohen & had $49.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.98.
How much cash does Cohen & have?
Cohen & held $192.7 million in cash and short-term investments at the end of fiscal 2025; with $49.9 million of debt that is net cash of $142.8 million.
What is Cohen &'s book value?
Cohen &'s shareholders' equity (book value) was $51.1 million at the end of fiscal 2025, or $8.54 per share.
What is Cohen &'s current ratio?
Cohen & had current assets of $609.4 million and current liabilities of $17.9 million, a current ratio of 33.96 (it can cover its short-term obligations).
How much goodwill does Cohen & have?
Cohen & carried $0.3 million of goodwill and intangible assets, 0.0% of total assets, at the end of fiscal 2025.