Financials AllianceBernstein Holding L.P.

Equities

AB

US01881G1067

Investment Management & Fund Operators

Market Closed - Nyse 04:00:02 2024-04-19 pm EDT 5-day change 1st Jan Change
33.03 USD +1.72% Intraday chart for AllianceBernstein Holding L.P. -0.36% +6.45%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,905 3,248 4,823 3,451 3,469 3,780 - -
Enterprise Value (EV) 1 1,119 420.4 1,943 1,768 2,748 -1,052 -1,643 -2,323
P/E ratio 12.2 x 11.7 x 12.6 x 12.8 x 13.3 x 11.2 x 9.49 x 10.8 x
Yield 8.36% 8.62% 7.99% 8.58% 8.67% 9.36% 10.9% 10.9%
Capitalization / Revenue 0.83 x 0.88 x 1.09 x 0.85 x 1.03 x 1.01 x 0.93 x 0.86 x
EV / Revenue 0.32 x 0.11 x 0.44 x 0.44 x 0.81 x -0.28 x -0.41 x -0.53 x
EV / EBITDA 1.15 x 0.4 x 1.54 x 1.74 x 2.63 x -0.93 x -1.28 x -1.75 x
EV / FCF 1.4 x - 1.57 x 1.67 x 3.28 x -2.41 x -3.06 x -7.52 x
FCF Yield 71.4% - 63.7% 59.9% 30.5% -41.4% -32.6% -13.3%
Price to Book - - - - - - - -
Nbr of stocks (in thousands) 95,992 96,175 98,754 100,401 111,797 114,436 - -
Reference price 2 30.26 33.77 48.84 34.37 31.03 33.03 33.03 33.03
Announcement Date 2/12/20 2/11/21 2/11/22 2/8/23 2/6/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,518 3,709 4,442 4,054 3,372 3,760 4,047 4,421
EBITDA 1 969 1,056 1,259 1,014 1,043 1,136 1,286 1,328
EBIT 1 802.4 918 1,214 947.2 951.2 1,080 1,193 1,240
Operating Margin 22.81% 24.75% 27.34% 23.36% 28.21% 28.74% 29.47% 28.06%
Earnings before Tax (EBT) 1 823.4 907.4 1,216 815.1 817.7 990.4 985.1 1,018
Net income 1 238.6 279.4 385.9 274.2 264.2 333.1 383.8 306
Net margin 6.78% 7.53% 8.69% 6.76% 7.83% 8.86% 9.48% 6.92%
EPS 2 2.490 2.880 3.880 2.690 2.340 2.955 3.480 3.070
Free Cash Flow 1 799.2 - 1,237 1,059 838.7 436 536 309
FCF margin 22.71% - 27.85% 26.12% 24.87% 11.6% 13.24% 6.99%
FCF Conversion (EBITDA) 82.48% - 98.22% 104.45% 80.38% 38.38% 41.69% 23.26%
FCF Conversion (Net income) 335% - 320.53% 386.23% 317.45% 130.9% 139.67% 100.98%
Dividend per Share 2 2.530 2.910 3.900 2.950 2.690 3.092 3.596 3.610
Announcement Date 2/12/20 2/11/21 2/11/22 2/8/23 2/6/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 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
Net sales 1 1,093 - - - 987 990.2 832.6 822.6 845.8 870.9 899.7 924.3 940.2 995.7 965.7
EBITDA 1 313.4 439.3 296.2 - 226.6 253.9 247.7 - - - 254.1 272.3 277.9 315 -
EBIT 1 280.7 394.4 285 225.8 204.4 231.9 224.8 221.9 236.9 253.9 258.6 262.5 267.3 291.8 288.9
Operating Margin 25.69% - - - 20.71% 23.42% 27% 26.98% 28% 29.15% 28.75% 28.4% 28.43% 29.31% 29.92%
Earnings before Tax (EBT) 1 279.6 392.6 248.4 - - - 215.3 188.7 175.2 238.5 256.4 244.2 231.6 258.2 -
Net income 1 88.68 125.2 85.93 - 56.32 63.78 67.44 60.56 56.99 79.2 78.55 79.48 83.12 91.92 -
Net margin 8.11% - - - 5.71% 6.44% 8.1% 7.36% 6.74% 9.09% 8.73% 8.6% 8.84% 9.23% -
EPS 2 0.8900 1.270 0.8700 - 0.5600 0.5900 0.5900 0.5300 0.5000 0.7100 0.7250 0.7300 0.7150 0.7850 -
Dividend per Share 2 0.8900 1.290 0.9000 - 0.6400 0.7000 0.6600 0.6100 0.6500 - 0.7500 0.6900 0.7800 0.8600 0.8600
Announcement Date 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 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 1,786 2,827 2,880 1,682 721 4,832 5,422 6,103
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 799 - 1,237 1,059 839 436 536 309
ROE (net income / shareholders' equity) 6.01% 6.93% 9.33% 6.36% 5.93% 7.23% 8.7% 7.7%
ROA (Net income/ Total Assets) 2.73% 3.06% 3.82% 2.53% 2.55% 3.5% 3.6% 3%
Assets 1 8,748 9,134 10,104 10,825 10,360 9,516 10,660 10,200
Book Value Per Share - - - - - - - -
Cash Flow per Share 2 - 15.70 4.780 11.00 7.720 4.300 5.550 3.550
Capex 1 28.3 41.5 61.9 62.3 33.6 42.5 52.5 45.8
Capex / Sales 0.8% 1.12% 1.39% 1.54% 1% 1.13% 1.3% 1.04%
Announcement Date 2/12/20 2/11/21 2/11/22 2/8/23 2/6/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
6
Last Close Price
33.03 USD
Average target price
40 USD
Spread / Average Target
+21.10%
Consensus
  1. Stock Market
  2. Equities
  3. AB Stock
  4. Financials AllianceBernstein Holding L.P.