Silvercrest Asset Management Group Inc. (SAMG) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+178.2%

$30.19

vs $10.85 price

Levered DCF

$56.41

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

2.35

Grey zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	27.12×	18.39×	17.71×	9.78×	11.3×	7.55×	7.19×	11.41×
P/B	2.65×	2.16×	1.94×	2.17×	2.07×	1.87×	1.7×	1.96×
P/S	1.06×	1.41×	1.37×	1.49×	1.26×	1.22×	1.08×	1.11×
EV / EBITDA	8.3×	5.23×	4.99×	3.34×	3.37×	4.32×	5.37×	1.61×
Gross margin	33.0%	38.0%	38.1%	41.9%	44.9%	42.2%	41.2%	41.3%
Operating margin	7.4%	14.3%	16.0%	31.3%	23.2%	20.6%	18.5%	21.4%
Net margin	3.9%	7.7%	7.7%	15.3%	11.2%	9.2%	8.5%	9.8%
Current ratio	13.97×	41.87×	2.14×	2.21×	1.59×	1.45×	1.83×	26.65×
Debt / equity	0.48×	0.28×	0.35×	0.43×	0.52×	0.69×	1.11×	0×
Interest coverage	66.13×	122.41×	44.7×	92.7×	79.69×	39.58×	39.24×	341.16×
Dividend yield	5.3%	4.2%	4.4%	3.7%	3.9%	4.6%	4.8%	4.2%
Payout ratio	144.8%	77.6%	76.9%	36.3%	43.5%	61.3%	61.6%	48.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.7%	11.8%	11.0%	22.3%	18.3%	14.1%	13.3%	17.2%
Return on invested capital	4.1%	7.1%	9.1%	18.1%	14.2%	10.5%	7.2%	12.3%
Return on assets	2.9%	4.9%	4.6%	8.9%	6.4%	4.7%	4.0%	7.2%
Free cash flow yield	11.3%	11.4%	10.7%	12.2%	26.1%	19.9%	13.5%	24.7%
Earnings yield	3.7%	5.5%	5.7%	10.2%	8.8%	7.5%	7.8%	8.8%
Enterprise value	$112.9M	$128.5M	$119.4M	$142.6M	$122M	$118.5M	$130.3M	$40.7M
Net debt / EBITDA	-1.48×	-1.88×	-1.71×	-0.96×	-1.22×	-0.49×	0.81×	-2.73×
Cash conversion cycle (days)	34	29	21	21	16	22	-75	-1