Cowen Inc. (COWN) Financial Statements (2024 and earlier)

Company Profile

Business Address 599 LEXINGTON AVENUE, 20TH FLOOR
NEW YORK, NY 10022
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6211 - Security Brokers, Dealers, and Flotation Companies (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments914,343645,169301,123259,148803,273812,890
Cash and cash equivalents914,343645,169301,123259,148130,052112,014
Short-term investments     673,221700,876
Receivables(1,522)(4,233)24,11819,46318,115 
Prepaid expense6,9712,2808,4647,0291,4573,267
Deferred rent asset      52
Total current assets:919,792643,216333,705285,640822,845816,209
Noncurrent Assets
Operating lease, right-of-use asset93,65578,24192,852
Property, plant and equipment25,97633,02333,66126,44340,49642,408
Long-term investments and receivables47,20038,68140,85840,17141,099 
Long-term investments47,20038,68140,85840,17141,099 
Intangible assets, net (including goodwill)278,172171,487172,92885,62190,63386,447
Goodwill234,005147,084137,72860,67860,67860,678
Intangible assets, net (excluding goodwill)44,16724,40335,20024,94329,95525,769
Deferred income tax assets21,7659,030 
Total noncurrent assets:466,768330,462340,299152,235172,228128,855
Other undisclosed assets7,362,2546,854,5214,488,0212,908,4282,301,1791,073,459
TOTAL ASSETS:8,748,8147,828,1995,162,0253,346,3033,296,2522,018,523
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities22,86315,9525,6621,7427,482456
Taxes payable16,60014,1002,7781,7427,482456
Accounts payable6,2631,8522,884   
Debt63,4695,03623,244   
Securities loaned1,586,5722,476,4141,601,866414,852456,831 
Total current liabilities:1,672,9042,497,4021,630,772416,594464,313456
Noncurrent Liabilities
Other undisclosed liabilities5,779,5564,161,6762,235,8031,850,5221,643,316866,212
Total liabilities:7,452,4606,659,0783,866,5752,267,1162,107,629866,668
Temporary equity, carrying amount    284,780440,604379,205
Equity
Equity, attributable to parent, including:1,015,869969,497809,855794,407748,019772,650
Treasury stock, value(547,100)(346,900)(284,300)(234,142)(186,846)(153,845)
Additional paid in capital1,100,6671,130,1381,110,6351,062,8771,004,664928,646
Accumulated other comprehensive income (loss)(2)(7)(5)(5)(8)(2)
Retained earnings (accumulated deficit)461,982185,901(16,809)(34,648)(70,116)(2,442)
Other undisclosed equity, attributable to parent322365334325325293
Equity, attributable to noncontrolling interest159,735199,62494,320   
Total equity:1,175,6041,169,121904,175794,407748,019772,650
Other undisclosed liabilities and equity120,750 391,275   
TOTAL LIABILITIES AND EQUITY:8,748,8147,828,1995,162,0253,346,3033,296,2522,018,523

Income Statement (P&L) ($ in thousands)

12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues2,112,7991,623,3041,049,443966,916658,781471,565
Investment banking revenue1,067,162769,486375,025357,222223,614133,279
Brokerage commissions revenue585,162572,548402,747413,582
Financial services revenue332,238248,126
Cost of revenue(1,142,943)(955,605)(626,986)(596,286)(130,920)(83,091)
Gross profit:969,856667,699422,457370,630527,861388,474
Operating expenses(387,250)(336,757)(321,878)(291,320)(626,678)(464,027)
Other operating expense, net
(Other Expenses)
(37,026)(33,195)(23,114)(22,014)(18,196)(14,815)
Operating income (loss):545,580297,74777,46557,296(117,013)(90,368)
Nonoperating income34,811154,220138,772123,742105,77944,066
Investment income, nonoperating35,494177,72779,40677,45195,65536,884
Other nonoperating income      
Interest and debt expense(116)(1,512)(227)(556)(16,039) 
Income (loss) from continuing operations before equity method investments, income taxes:580,275450,455216,010180,482(27,273)(46,302)
Other undisclosed income (loss) from continuing operations before income taxes(174,245)(153,018)(145,287)(81,546)34,23514,815
Income (loss) from continuing operations before income taxes:406,030297,43770,72398,9366,962(31,487)
Income tax expense (benefit)(102,039)(90,373)(14,853)(15,719)(44,053)19,092
Income (loss) from continuing operations:303,991207,06455,87083,217(37,091)(12,395)
Income (loss) before gain (loss) on sale of properties:303,991207,06455,87083,217(37,091)(12,395)
Net income (loss):303,991207,06455,87083,217(37,091)(12,395)
Net income (loss) attributable to noncontrolling interest(8,380)9,299(31,239)40,398(23,791)(6,882)
Other undisclosed net loss attributable to parent    (80,796)  
Net income (loss) attributable to parent:295,611216,36324,63142,819(60,882)(19,277)
Preferred stock dividends and other adjustments(6,792)(6,792)(6,792)(6,792)(6,792)(6,792)
Net income (loss) available to common stockholders, basic:288,819209,57117,83936,027(67,674)(26,069)
Dilutive securities, effect on basic earnings per share      
Net income (loss) available to common stockholders, diluted:288,819209,57117,83936,027(67,674)(26,069)

Comprehensive Income ($ in thousands)

12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss):303,991207,06455,87083,217(37,091)(12,395)
Other comprehensive income (loss)5(2) 3(6)(2)
Comprehensive income (loss):303,996207,06255,87083,220(37,097)(12,397)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(8,380)9,299(31,239)40,398(23,791)(6,882)
Comprehensive income (loss), net of tax, attributable to parent:295,616216,36124,631123,618(60,888)(19,279)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: