Cohen & Company Inc.

AI-generated fair value estimate for this company.

Method: Net asset value model: $124.5M net cash/investments plus an estimated $52.0M capitalized value of recurring asset-management and capital-markets fee income (8x an estimated $6.5M in sustainable pre-tax recurring fee income, excluding lumpy principal-trading gains), for a gross NAV of $176.5M, discounted 35% for holding-company complexity and execution risk, divided by 6.77M shares outstanding.

Reasoning: Cohen & Company is a diversified financial holding company (broker-dealer, SPAC sponsorship, asset management) whose reported revenue is dominated by lumpy principal-transaction and trading gains that make a standard FCF DCF unreliable, so a sum-of-the-parts net asset value approach separating hard net cash from a conservatively capitalized recurring fee business is more appropriate; the company's net cash alone is well above its current market capitalization.