Financials AllianceBernstein Holding L.P.

Equities

AB

US01881G1067

Investment Management & Fund Operators

Market Closed - Nyse Other stock markets 04:00:02 2025-07-11 pm EDT			5-day change	1st Jan Change
41.38 ^USD	-0.70%		+0.68%	+11.57%

Jul. 11	AllianceBernstein Holding LP - assets under management increase to $829 billion in June	RE
Jul. 10	AllianceBernstein Reports Increase in June Assets Under Management	MT

Projected Income Statement: AllianceBernstein Holding L.P.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	3,709	4,442	4,054	3,372	3,528	3,525	3,817	4,050
Change	-	19.77%	-8.72%	-16.83%	4.64%	-0.08%	8.27%	6.09%
EBITDA ¹	1,056	1,259	1,014	1,043	1,231	1,104	1,144	1,170
Change	-	19.22%	-19.49%	2.91%	18.01%	-10.35%	3.63%	2.28%
EBIT ¹	918	1,214	947.2	951.2	1,140	1,201	1,282	1,412
Change	-	32.28%	-22%	0.42%	19.86%	5.35%	6.72%	10.12%
Interest Paid ¹	-6.18	-5.145	-63.67	-	-43.51	-32.05	-39	-38
Earnings before Tax (EBT) ¹	907.4	1,216	815.1	817.7	1,124	969	949	1,125
Change	-	34.05%	-32.99%	0.32%	37.47%	-13.8%	-2.06%	18.55%
Net income ¹	279.4	385.9	274.2	264.2	423.4	325.5	349.1	334
Change	-	38.09%	-28.95%	-3.64%	60.26%	-23.11%	7.26%	-4.34%
Announcement Date	2/11/21	2/11/22	2/8/23	2/6/24	2/6/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1
Net sales ¹	871.4	900	1,063	1,007	1,077	1,093	-	-	-	987	990.2	832.6	822.6	845.8	870.9	884.2	825.8	845.1	973.3	838.2	840.9	891.6	954.6	-
Change	-	3.28%	18.09%	-5.23%	6.91%	1.49%	-	-	-	-	0.32%	-15.91%	-1.2%	2.82%	2.97%	1.52%	-6.6%	2.33%	15.17%	-13.88%	0.32%	6.03%	7.07%	-
EBITDA ¹	230.9	252.1	331.5	292.1	311.7	313.4	439.3	296.2	-	226.6	253.9	247.7	-	-	-	290.7	300.5	287.5	375.8	275.3	272.5	291.4	304.9	303.2
Change	-	9.19%	31.49%	-11.89%	6.71%	0.57%	40.16%	-32.59%	-	-	12.03%	-2.44%	-	-	-	-	3.38%	-4.33%	30.72%	-26.74%	-1.02%	6.94%	4.6%	-0.54%
EBIT ¹	195	216.2	301.2	260.1	279.2	280.7	394.4	285	225.8	204.4	231.9	224.8	221.9	236.9	253.9	267.4	254.2	264.2	354.4	253.9	275.9	303.7	338.7	-
Change	-	10.88%	39.29%	-13.65%	7.35%	0.55%	40.48%	-27.72%	-20.8%	-9.47%	13.49%	-3.08%	-1.27%	6.72%	7.19%	5.33%	-4.95%	3.92%	34.16%	-28.36%	8.68%	10.05%	11.55%	-
Charge d'intérêts ¹	-1.096	-1.073	-1.177	-1.294	-1.241	-1.28	-1.33	-1.411	-	-	-	-	-	-	-	-	-11.31	-8.456	-12.8	-7.138	-8	-10	-9	-
Earnings before Tax (EBT)	209.6	217.1	302.4	260.6	283.6	279.6	392.6	248.4	-	-	-	215.3	188.7	175.2	238.5	242	333.8	-	317.5	-	-	-	-	-
Change	-	3.58%	39.27%	-13.83%	8.84%	-1.4%	40.39%	-36.73%	-	-	-	-	-12.36%	-7.11%	36.09%	1.47%	37.95%	-	-	-	-	-	-	-
Net income ¹	56.93	67.01	93.22	81.1	90.92	88.68	125.2	85.93	-	56.32	63.78	67.44	60.56	56.99	79.2	77.22	113.5	127.2	105.4	74.03	74.11	79.64	84.06	85.17
Change	-	17.71%	39.11%	-13%	12.11%	-2.47%	41.15%	-31.35%	-	-	13.25%	5.73%	-10.2%	-5.89%	38.97%	-2.5%	47.01%	12.04%	-17.11%	-29.78%	0.1%	7.46%	5.56%	1.32%
Announcement Date	7/23/20	10/22/20	2/11/21	4/29/21	7/29/21	10/28/21	2/11/22	4/29/22	7/29/22	10/28/22	2/8/23	4/26/23	7/27/23	10/26/23	2/6/24	4/25/24	7/26/24	10/24/24	2/6/25	4/24/25	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: AllianceBernstein Holding L.P.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-2,827	-2,880	-1,682	-721	-624	-388	100	-87
Change	-	-1.87%	41.6%	57.13%	13.45%	37.83%	125.77%	-187%
Announcement Date	2/11/21	2/11/22	2/8/23	2/6/24	2/6/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: AllianceBernstein Holding L.P.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	41.5	61.93	62.31	33.63	122.3	50	45	42
Change	-	49.22%	0.61%	-46.03%	263.79%	-59.13%	-10%	-6.67%
Free Cash Flow (FCF) ¹	-	1,237	1,059	838.7	1,284	-	-	-
Change	-	-	-14.39%	-20.8%	53.1%	-100%	-	-
Announcement Date	2/11/21	2/11/22	2/8/23	2/6/24	2/6/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: AllianceBernstein Holding L.P.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	28.48%	28.35%	25.01%	30.94%	34.9%	31.31%	29.97%	28.89%
EBIT Margin (%)	24.75%	27.34%	23.36%	28.21%	32.31%	34.07%	33.58%	34.86%
EBT Margin (%)	24.47%	27.39%	20.1%	24.25%	31.86%	27.49%	24.86%	27.78%
Net margin (%)	7.53%	8.69%	6.76%	7.83%	12%	9.23%	9.15%	8.25%
FCF margin (%)	-	27.85%	26.12%	24.87%	36.39%	-	-	-
FCF / Net Income (%)	-	320.53%	386.23%	317.45%	303.27%	-	-	-
Profitability
ROA	3.06%	3.82%	2.53%	2.55%	4.53%	3.7%	3.6%	3.6%
ROE	6.93%	9.33%	6.36%	5.93%	9.08%	6.95%	7.4%	7.7%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	0.09x	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	1.12%	1.39%	1.54%	1%	3.47%	1.42%	1.18%	1.04%
CAPEX / EBITDA (%)	3.93%	4.92%	6.15%	3.22%	9.94%	4.53%	3.93%	3.59%
CAPEX / FCF (%)	-	5.01%	5.88%	4.01%	9.53%	-	-	-
Items per share
Cash flow per share ¹	15.68	4.78	11.02	7.723	-	-	-	-
Change	-	-69.52%	130.53%	-29.91%	-	-	-	-
Dividend per Share ¹	2.91	3.9	2.95	2.69	3.26	3.346	3.725	3.89
Change	-	34.02%	-24.36%	-8.81%	21.19%	2.65%	11.31%	4.43%
Book Value Per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EPS ¹	2.88	3.88	2.69	2.34	3.71	2.98	3.27	3.42
Change	-	34.72%	-30.67%	-13.01%	58.55%	-19.68%	9.73%	4.59%
Nbr of stocks (in thousands)	96,175	98,754	100,401	111,797	113,435	110,700	110,700	110,700
Announcement Date	2/11/21	2/11/22	2/8/23	2/6/24	2/6/25	-	-	-