Scaling without slippage
Revenue up 972.5% YoY while gross margin expanded +72.5pp TTM to 117.7%
Evaluate asset managers through fee quality, payout power, and capital-light earnings rather than bank-style spread logic.
Asset managers and capital-markets firms are not spread businesses and they are not property vehicles. Their economics are fee-based, asset-light, and highly sensitive to AUM, market activity, client retention, and compensation discipline. The StatsAlpha(TM) asset-management framework focuses on revenue quality, operating margin as an FRE proxy, cash conversion, moat durability, and payout-driven valuation. It is for informational purposes only, not investment advice.
A quick read on where this framework looks strongest today.
Top slices selected from the strongest data already available for this industry.
Top 5 companies by current framework view
Recurring storylines, tone distribution, and representative beats pulled from active companies inside this setup.
Revenue up 972.5% YoY while gross margin expanded +72.5pp TTM to 117.7%
Revenue up 8009.1% YoY while gross margin expanded +200.0pp TTM to 300.0%
Revenue up 32.9% YoY while gross margin expanded +403.1pp TTM to 503.1%
For informational purposes only. Not investment advice.
Metrics that recur most often across stronger operators in this framework.
Asset Managers, Capital Markets & Exchanges
This framework uses all three Trade-Off Ledger axes with industry-specific weights.
Each axis sets a minimum evidence threshold. Higher coverage means the framework needs more supporting signals before the lens is treated as dependable.
Coverage thresholds and enabled metrics across the core trade-off axes.
Median and interquartile range across 272 companies in this framework.
Interquartile ranges show where the middle half of companies cluster, with the median pin marking the center of gravity for each pillar.
Scan the full company universe mapped into the Asset Management & Capital Markets framework using live search across company name, ticker, and industry.
| Company | Market Cap | Score | Price | Strongest Pillar |
|---|---|---|---|---|
|
Capital Markets
|
350.36B
|
54.2
Composite
|
$216.33
|
Valuation
66.3
|
|
Capital Markets
|
303.75B
|
52.8
Composite
|
$1,039.61
|
Valuation
66.3
|
|
Capital Markets
|
177.24B
|
62.9
Composite
|
$107.60
|
Valuation
74.8
|
|
BLK
BlackRock, Inc.
Asset Management
|
153.73B
|
48.5
Composite
|
$1,136.39
|
Valuation
63.3
|
|
Asset Management
|
142.48B
|
54.0
Composite
|
$137.13
|
Efficiency
67.5
|
|
SPGI
S&P Global Inc.
Financial Data & Stock Exchanges
|
127.51B
|
49.3
Composite
|
$408.19
|
Valuation
68.0
|
|
Capital Markets
|
103.66B
|
66.9
Composite
|
$93.29
|
Valuation
81.8
|
|
Asset Management
|
95.73B
|
39.5
Composite
|
$44.08
|
Valuation
53.6
|
|
CME
CME Group Inc.
Financial Data & Stock Exchanges
|
86.86B
|
44.2
Composite
|
$263.66
|
Efficiency
56.4
|
|
KKR
KKR & Co. Inc.
Asset Management
|
86.44B
|
42.8
Composite
|
$102.81
|
Efficiency
68.3
|
|
Financial Data & Stock Exchanges
|
85.07B
|
54.2
Composite
|
$477.75
|
Valuation
76.2
|
|
Financial Data & Stock Exchanges
|
76.53B
|
47.7
Composite
|
$150.30
|
Valuation
67.7
|
|
Asset Management
|
73.66B
|
51.8
Composite
|
$52.49
|
Valuation
67.9
|
|
Capital Markets
|
72.42B
|
50.1
Composite
|
$19.18
|
Profitability
66.4
|
|
Asset Management
|
69.09B
|
36.4
Composite
|
$127.44
|
Efficiency
57.0
|
|
Capital Markets
|
68.67B
|
50.1
Composite
|
$18.84
|
Profitability
66.4
|
|
Capital Markets
|
67.61B
|
52.4
Composite
|
$19.14
|
Profitability
66.3
|
|
Capital Markets
|
65.98B
|
52.4
Composite
|
$24.71
|
Profitability
66.3
|
|
Capital Markets
|
64.97B
|
52.4
Composite
|
$25.50
|
Profitability
66.3
|
|
Capital Markets
|
64.96B
|
52.4
Composite
|
$25.25
|
Profitability
66.3
|
|
Capital Markets
|
63.96B
|
52.4
Composite
|
$22.98
|
Profitability
66.3
|
|
Asset Management
|
49.86B
|
40.6
Composite
|
$184.68
|
Valuation
55.6
|
|
NDAQ
Nasdaq, Inc.
Financial Data & Stock Exchanges
|
49.50B
|
42.2
Composite
|
$94.59
|
Valuation
71.9
|
|
SCHW-PD
The Charles Schwab Corporation
Capital Markets
|
49.43B
|
64.3
Composite
|
$24.13
|
Efficiency
87.0
|
|
Asset Management
|
44.96B
|
53.2
Composite
|
$551.98
|
Valuation
68.5
|
|
MSCI
MSCI Inc.
Financial Data & Stock Exchanges
|
43.92B
|
50.4
Composite
|
$563.17
|
Valuation
71.2
|
|
Capital Markets
|
42.45B
|
59.8
Composite
|
$87.83
|
Valuation
72.3
|
|
Financial Data & Stock Exchanges
|
41.74B
|
37.9
Composite
|
$153.60
|
Efficiency
64.5
|
|
Asset Management
|
40.13B
|
42.4
Composite
|
$136.85
|
Efficiency
61.3
|
|
Asset Management
|
33.84B
|
45.3
Composite
|
$185.50
|
Valuation
56.2
|
|
Asset Management
|
32.22B
|
49.2
Composite
|
$176.56
|
Efficiency
79.0
|
|
Financial Data & Stock Exchanges
|
28.03B
|
55.8
Composite
|
$286.58
|
Efficiency
72.6
|
|
Capital Markets
|
27.68B
|
54.5
Composite
|
$9.95
|
Profitability
63.9
|
|
Asset Management
|
25.08B
|
49.1
Composite
|
$114.02
|
Valuation
72.7
|
|
Asset Management
|
24.12B
|
48.7
Composite
|
$113.40
|
Valuation
64.5
|
|
Capital Markets
|
24.06B
|
55.3
Composite
|
$362.63
|
Valuation
66.2
|
|
Capital Markets
|
21.26B
|
62.5
Composite
|
$102.62
|
Valuation
73.2
|
|
Asset Management
|
17.50B
|
45.6
Composite
|
$33.77
|
Health
58.2
|
|
Asset Management
|
16.80B
|
39.9
Composite
|
$21.16
|
Growth
46.5
|
|
TPG
TPG Inc.
Asset Management
|
16.38B
|
43.3
Composite
|
$48.99
|
Efficiency
78.8
|
|
Asset Management
|
15.90B
|
27.1
Composite
|
$47.79
|
Health
44.5
|
|
IREN
IREN LIMITED
Capital Markets
|
14.91B
|
37.8
Composite
|
$41.23
|
Efficiency
54.9
|
|
TRU
TransUnion
Financial Data & Stock Exchanges
|
14.78B
|
42.5
Composite
|
$80.02
|
Valuation
55.8
|
|
Asset Management
|
14.50B
|
47.7
Composite
|
$11.87
|
Valuation
66.7
|
|
Asset Management
|
13.84B
|
32.1
Composite
|
$33.68
|
Efficiency
49.8
|
|
Capital Markets
|
13.60B
|
65.6
Composite
|
$109.02
|
Growth
78.5
|
|
Asset Management
|
13.22B
|
49.1
Composite
|
$20.01
|
Valuation
61.2
|
|
Asset Management
|
13.14B
|
49.6
Composite
|
$51.52
|
Efficiency
61.3
|
|
EVR
Evercore Inc.
Capital Markets
|
12.81B
|
60.0
Composite
|
$305.94
|
Growth
65.0
|
|
IVZ
Invesco Ltd
Asset Management
|
12.68B
|
43.8
Composite
|
$31.58
|
Valuation
70.0
|
|
HUT
Hut 8 Corp.
Capital Markets
|
11.96B
|
35.5
Composite
|
$88.59
|
Efficiency
51.2
|
|
Capital Markets
|
11.62B
|
53.4
Composite
|
$83.09
|
Valuation
62.7
|
|
WULF
TeraWulf Inc.
Capital Markets
|
11.50B
|
31.2
Composite
|
$17.08
|
Efficiency
54.2
|
|
Asset Management
|
11.39B
|
52.6
Composite
|
$104.70
|
Valuation
75.9
|
|
Capital Markets
|
10.67B
|
47.5
Composite
|
$56.62
|
Valuation
64.8
|
|
Capital Markets
|
10.36B
|
59.2
Composite
|
$55.85
|
Valuation
64.9
|
|
Capital Markets
|
9.84B
|
52.1
Composite
|
$148.98
|
Valuation
66.0
|
|
SNEX
StoneX Group Inc.
Capital Markets
|
9.72B
|
56.0
Composite
|
$65.84
|
Valuation
66.3
|
|
CIFR
Cipher Mining Inc.
Capital Markets
|
9.51B
|
33.3
Composite
|
$17.18
|
Valuation
44.9
|
|
Capital Markets
|
9.42B
|
64.7
Composite
|
$129.00
|
Profitability
72.0
|
|
Asset Management
|
9.41B
|
50.5
Composite
|
$369.70
|
Efficiency
76.8
|
|
Financial Data & Stock Exchanges
|
8.60B
|
46.5
Composite
|
$285.57
|
Valuation
72.1
|
|
XP
XP Inc.
Capital Markets
|
8.43B
|
53.7
Composite
|
$16.24
|
Efficiency
79.5
|
|
RIOT
Riot Platforms, Inc.
Capital Markets
|
8.13B
|
33.3
Composite
|
$20.52
|
Efficiency
41.9
|
|
Asset Management
|
8.00B
|
46.1
Composite
|
$51.95
|
Efficiency
62.2
|
|
Asset Management
|
7.34B
|
48.9
Composite
|
$16.08
|
Growth
68.7
|
|
Asset Management
|
6.30B
|
44.6
Composite
|
$29.38
|
Efficiency
55.6
|
|
MORN
Morningstar, Inc.
Financial Data & Stock Exchanges
|
6.30B
|
43.6
Composite
|
$200.66
|
Valuation
64.2
|
|
Asset Management
|
5.59B
|
55.1
Composite
|
$108.16
|
Valuation
73.3
|
|
Capital Markets
|
5.49B
|
43.8
Composite
|
$66.63
|
Valuation
58.6
|
|
Asset Management
|
5.37B
|
44.8
Composite
|
$24.54
|
Efficiency
61.2
|
|
Asset Management
|
5.33B
|
37.0
Composite
|
$11.64
|
Efficiency
47.2
|
|
BGC
BGC Group, Inc.
Capital Markets
|
5.26B
|
53.9
Composite
|
$10.35
|
Valuation
67.1
|
|
STEP
StepStone Group Inc.
Asset Management
|
5.25B
|
34.0
Composite
|
$46.41
|
Efficiency
80.6
|
|
Capital Markets
|
5.22B
|
53.1
Composite
|
$74.79
|
Health
58.7
|
|
MARA
MARA Holdings, Inc.
Capital Markets
|
5.04B
|
30.4
Composite
|
$10.09
|
Efficiency
38.9
|
|
MRX
Marex Group plc
Capital Markets
|
4.83B
|
56.4
Composite
|
$60.81
|
Valuation
68.6
|
|
Asset Management
|
4.80B
|
41.8
Composite
|
$58.94
|
Valuation
47.0
|
|
LAZ
Lazard, Inc.
Capital Markets
|
4.66B
|
51.1
Composite
|
$44.20
|
Valuation
67.8
|
|
Asset Management
|
4.53B
|
60.6
Composite
|
$101.03
|
Valuation
70.7
|
|
Asset Management
|
4.47B
|
50.7
Composite
|
$63.16
|
Valuation
71.8
|
|
Capital Markets
|
4.23B
|
55.5
Composite
|
$162.53
|
Valuation
67.5
|
|
Capital Markets
|
4.03B
|
57.5
Composite
|
$171.34
|
Valuation
75.5
|
|
Asset Management
|
3.95B
|
46.6
Composite
|
$83.60
|
Valuation
63.1
|
|
BITF
Bitfarms Ltd.
Capital Markets
|
3.71B
|
32.7
Composite
|
$6.14
|
Growth
51.7
|
|
Asset Management
|
3.43B
|
60.3
Composite
|
$37.12
|
Efficiency
66.1
|
|
Asset Management
|
3.31B
|
35.8
Composite
|
$13.17
|
Efficiency
50.7
|
|
CLSK
CleanSpark, Inc.
Capital Markets
|
3.31B
|
27.5
Composite
|
$12.30
|
Valuation
36.2
|
|
Asset Management
|
2.96B
|
35.4
Composite
|
$12.44
|
Efficiency
51.9
|
|
Asset Management
|
2.89B
|
42.2
Composite
|
$17.25
|
Valuation
49.1
|
|
Asset Management
|
2.87B
|
41.9
Composite
|
$15.94
|
Valuation
58.1
|
|
Asset Management
|
2.86B
|
47.5
Composite
|
$89.85
|
Growth
65.8
|
|
Asset Management
|
2.86B
|
36.9
Composite
|
$21.25
|
Efficiency
56.2
|
|
SII
Sprott Inc.
Asset Management
|
2.83B
|
57.6
Composite
|
$117.88
|
Valuation
78.7
|
|
GCMG
GCM Grosvenor Inc.
Asset Management
|
2.78B
|
52.6
Composite
|
$13.58
|
Efficiency
82.4
|
|
Asset Management
|
2.60B
|
53.2
Composite
|
$42.55
|
Efficiency
72.1
|
|
Asset Management
|
1.79B
|
49.5
Composite
|
$11.53
|
Efficiency
63.9
|
|
Asset Management
|
1.77B
|
61.1
Composite
|
$30.08
|
Profitability
70.9
|
|
Asset Management
|
1.70B
|
50.9
Composite
|
$18.76
|
Valuation
56.3
|
|
Asset Management
|
1.58B
|
39.2
Composite
|
$19.10
|
Efficiency
72.2
|
|
TRIN
Trinity Capital Inc.
Asset Management
|
1.57B
|
41.0
Composite
|
$18.05
|
Valuation
49.2
|
|
Asset Management
|
1.55B
|
56.0
Composite
|
$16.04
|
Profitability
62.3
|
|
Asset Management
|
1.47B
|
46.1
Composite
|
$25.13
|
Growth
55.3
|
|
Capital Markets
|
1.44B
|
37.2
Composite
|
$17.50
|
Valuation
46.9
|
|
Asset Management
|
1.43B
|
59.6
Composite
|
$15.72
|
Profitability
76.6
|
|
Asset Management
|
1.29B
|
39.3
Composite
|
$15.43
|
Health
43.0
|
|
Capital Markets
|
1.20B
|
36.7
Composite
|
$111.64
|
Efficiency
45.0
|
|
Asset Management
|
1.11B
|
38.7
Composite
|
$2.33
|
Efficiency
71.6
|
|
PTA
240905
Asset Management
|
1.05B
|
51.7
Composite
|
$19.05
|
Valuation
55.8
|
|
Asset Management
|
1.04B
|
42.3
Composite
|
$12.96
|
Profitability
50.6
|
|
Asset Management
|
1.03B
|
45.0
Composite
|
$165.16
|
Efficiency
63.8
|
|
Asset Management
|
1.01B
|
63.2
Composite
|
$15.26
|
Profitability
72.7
|
|
Asset Management
|
997.19M
|
57.0
Composite
|
$5.03
|
Profitability
68.6
|
|
Asset Management
|
964.34M
|
51.2
Composite
|
$14.12
|
Valuation
59.9
|
|
Asset Management
|
962.47M
|
37.0
Composite
|
$9.75
|
Efficiency
47.6
|
|
Asset Management
|
945.10M
|
45.9
Composite
|
$21.59
|
Profitability
66.2
|
|
Asset Management
|
937.62M
|
38.3
Composite
|
$4.42
|
Health
46.5
|
|
Capital Markets
|
898.53M
|
40.3
Composite
|
$2.84
|
Growth
62.0
|
|
Asset Management
|
890.02M
|
55.8
Composite
|
$15.97
|
Efficiency
74.0
|
|
BBDC
Barings BDC, Inc.
Asset Management
|
877.40M
|
44.9
Composite
|
$9.22
|
Valuation
59.1
|
|
Capital Markets
|
838.41M
|
51.0
Composite
|
$4.82
|
Efficiency
70.9
|
|
Asset Management
|
835.49M
|
56.8
Composite
|
$26.23
|
Profitability
77.8
|
|
Asset Management
|
814.10M
|
42.5
Composite
|
$13.11
|
Efficiency
66.3
|
|
Asset Management
|
808.90M
|
42.8
Composite
|
$9.76
|
Valuation
47.0
|
|
PX
P10, Inc.
Asset Management
|
775.30M
|
38.5
Composite
|
$7.08
|
Valuation
52.4
|
|
Asset Management
|
766.14M
|
52.6
Composite
|
$15.21
|
Growth
70.5
|
|
Asset Management
|
753.88M
|
59.6
Composite
|
$24.21
|
Profitability
70.4
|
|
Asset Management
|
741.60M
|
44.5
Composite
|
$20.35
|
Valuation
54.3
|
|
Asset Management
|
721.38M
|
41.2
Composite
|
$11.02
|
Profitability
49.6
|
|
Asset Management
|
700.99M
|
57.1
Composite
|
$22.32
|
Profitability
66.6
|
|
Asset Management
|
695.62M
|
56.2
Composite
|
$13.12
|
Profitability
67.1
|
|
SLRC
SLR Investment Corp.
Asset Management
|
691.80M
|
51.8
Composite
|
$13.10
|
Efficiency
67.9
|
|
Asset Management
|
690.23M
|
49.4
Composite
|
$14.21
|
Efficiency
59.4
|
|
Asset Management
|
679.95M
|
55.2
Composite
|
$14.33
|
Profitability
64.0
|
|
SWIN
Solowin Holdings
Capital Markets
|
651.89M
|
0.0
Composite
|
$3.28
|
No pillar score
-
|
|
Asset Management
|
651.09M
|
37.1
Composite
|
$16.59
|
Growth
49.4
|
|
Asset Management
|
648.90M
|
36.6
Composite
|
$7.75
|
Efficiency
51.6
|
|
DXYZ
Destiny Tech100 Inc
Asset Management
|
648.30M
|
44.2
Composite
|
$25.89
|
Health
63.0
|
|
Asset Management
|
647.68M
|
51.9
Composite
|
$10.07
|
Growth
61.4
|
|
Asset Management
|
624.25M
|
37.3
Composite
|
$12.82
|
Health
45.3
|
|
Capital Markets
|
619.05M
|
34.1
Composite
|
$45.00
|
Health
50.9
|
|
Asset Management
|
596.31M
|
52.6
Composite
|
$10.02
|
Efficiency
68.0
|
|
Asset Management
|
591.56M
|
46.8
Composite
|
$10.55
|
Efficiency
79.6
|
|
BTBT
Bit Digital, Inc.
Capital Markets
|
586.60M
|
31.6
Composite
|
$1.38
|
Growth
41.9
|
|
Asset Management
|
580.98M
|
47.4
Composite
|
$8.78
|
Efficiency
60.3
|
|
ALTI
AlTi Global, Inc.
Asset Management
|
550.16M
|
41.0
Composite
|
$4.45
|
Health
62.0
|
|
Asset Management
|
519.66M
|
42.1
Composite
|
$12.48
|
Valuation
49.4
|
|
Asset Management
|
514.16M
|
48.2
Composite
|
$15.49
|
Profitability
59.6
|
|
Asset Management
|
500.11M
|
47.0
Composite
|
$13.54
|
Profitability
60.5
|
|
Asset Management
|
473.40M
|
45.7
Composite
|
$174.99
|
Growth
53.2
|
|
Asset Management
|
438.53M
|
46.7
Composite
|
$19.73
|
Valuation
67.4
|
|
Asset Management
|
430.20M
|
42.2
Composite
|
$24.06
|
Efficiency
59.5
|
|
Asset Management
|
426.90M
|
51.9
Composite
|
$12.59
|
Growth
69.8
|
|
Asset Management
|
421.16M
|
54.4
Composite
|
$14.50
|
Profitability
61.9
|
|
INV
Innventure, Inc.
Asset Management
|
409.30M
|
28.7
Composite
|
$3.44
|
Growth
54.2
|
|
Asset Management
|
401.25M
|
35.0
Composite
|
$11.77
|
Efficiency
72.3
|
|
Asset Management
|
393.29M
|
51.3
Composite
|
$16.25
|
Efficiency
65.4
|
|
VALU
Value Line, Inc.
Financial Data & Stock Exchanges
|
377.37M
|
45.3
Composite
|
$38.47
|
Valuation
71.6
|
|
Asset Management
|
335.93M
|
47.8
Composite
|
$10.45
|
Growth
65.6
|
|
Asset Management
|
316.05M
|
42.2
Composite
|
$4.64
|
Valuation
58.8
|
|
Asset Management
|
311.18M
|
39.9
Composite
|
$7.51
|
Efficiency
56.1
|
|
MKTW
MarketWise, Inc.
Financial Data & Stock Exchanges
|
307.35M
|
19.3
Composite
|
$20.25
|
Efficiency
45.1
|
|
Asset Management
|
305.13M
|
38.1
Composite
|
$13.23
|
Health
42.8
|
|
NXG
733085
Asset Management
|
301.87M
|
48.0
Composite
|
$59.57
|
Growth
58.5
|
|
SSSS
SuRo Capital Corp.
Asset Management
|
299.30M
|
50.8
Composite
|
$10.20
|
Growth
66.4
|
|
Asset Management
|
298.96M
|
52.1
Composite
|
$10.29
|
Growth
57.3
|
|
BRW
187480
Asset Management
|
294.63M
|
57.8
Composite
|
$6.67
|
Profitability
69.3
|
|
NPCT
102479
Asset Management
|
292.73M
|
49.2
Composite
|
$9.81
|
Profitability
59.6
|
|
Asset Management
|
284.62M
|
46.7
Composite
|
$20.01
|
Profitability
55.9
|
|
Asset Management
|
271.91M
|
50.0
Composite
|
$13.64
|
Valuation
60.4
|
|
Asset Management
|
268.66M
|
37.4
Composite
|
$14.69
|
Efficiency
41.8
|
|
Asset Management
|
265.13M
|
34.1
Composite
|
$4.11
|
Efficiency
57.5
|
|
Asset Management
|
246.99M
|
49.8
Composite
|
$15.84
|
Efficiency
54.4
|
|
FUFU
BitFuFu Inc.
Capital Markets
|
239.98M
|
33.0
Composite
|
$1.30
|
Growth
44.1
|
|
Asset Management
|
234.80M
|
46.8
Composite
|
$8.41
|
Valuation
55.2
|
|
Asset Management
|
234.59M
|
46.0
Composite
|
$9.99
|
Efficiency
59.8
|
|
Asset Management
|
222.00M
|
37.7
Composite
|
$3.69
|
Efficiency
50.0
|
|
Asset Management
|
220.22M
|
43.9
Composite
|
$9.50
|
Growth
55.1
|
|
Asset Management
|
212.19M
|
38.9
Composite
|
$10.69
|
Efficiency
84.3
|
|
Capital Markets
|
205.07M
|
29.1
Composite
|
$1.17
|
Efficiency
57.4
|
|
Asset Management
|
193.35M
|
57.4
Composite
|
$7.52
|
Growth
78.2
|
|
Asset Management
|
192.30M
|
43.7
Composite
|
$15.90
|
Valuation
55.2
|
|
Asset Management
|
187.97M
|
37.4
Composite
|
$5.20
|
Valuation
56.0
|
|
Asset Management
|
164.50M
|
39.8
Composite
|
$4.40
|
Growth
50.2
|
|
Asset Management
|
164.37M
|
28.7
Composite
|
$19.88
|
Efficiency
38.4
|
|
BMN
53753
Asset Management
|
160.33M
|
43.9
Composite
|
$25.33
|
Growth
62.0
|
|
Asset Management
|
151.29M
|
53.6
Composite
|
$20.52
|
Efficiency
64.2
|
|
Asset Management
|
138.40M
|
38.7
Composite
|
$1.49
|
Growth
51.5
|
|
Asset Management
|
136.38M
|
37.1
Composite
|
$6.78
|
Efficiency
82.7
|
|
Asset Management
|
125.90M
|
36.4
Composite
|
$10.21
|
Valuation
49.5
|
|
Asset Management
|
119.89M
|
39.4
Composite
|
$14.89
|
Profitability
47.9
|
|
Asset Management
|
110.10M
|
34.2
Composite
|
$5.08
|
Efficiency
83.3
|
|
Asset Management
|
94.28M
|
38.4
Composite
|
$15.77
|
Profitability
45.2
|
|
Capital Markets
|
90.59M
|
48.5
Composite
|
$11.29
|
Efficiency
91.0
|
|
AMTD
AMTD IDEA Group
Asset Management
|
89.68M
|
40.3
Composite
|
$0.77
|
Profitability
47.1
|
|
Asset Management
|
86.40M
|
37.7
Composite
|
$14.91
|
Profitability
44.3
|
|
Capital Markets
|
85.80M
|
43.9
Composite
|
$5.72
|
Valuation
57.5
|
|
Asset Management
|
84.05M
|
48.7
Composite
|
$46.58
|
Valuation
68.5
|
|
Asset Management
|
80.60M
|
44.9
Composite
|
$9.93
|
Valuation
64.6
|
|
Asset Management
|
79.03M
|
33.8
Composite
|
$2.55
|
Efficiency
44.4
|
|
Asset Management
|
73.20M
|
30.9
Composite
|
$5.88
|
Efficiency
50.5
|
|
Asset Management
|
71.26M
|
35.8
Composite
|
$7.61
|
Profitability
45.1
|
|
Asset Management
|
71.18M
|
32.5
Composite
|
$2.21
|
Efficiency
65.9
|
|
Capital Markets
|
70.87M
|
26.8
Composite
|
$4.71
|
Efficiency
50.9
|
|
Capital Markets
|
70.40M
|
33.7
Composite
|
$1.67
|
Profitability
43.1
|
|
Asset Management
|
65.73M
|
35.3
Composite
|
$9.00
|
Valuation
50.5
|
|
BTCS
BTCS Inc.
Capital Markets
|
52.76M
|
34.1
Composite
|
$1.11
|
Efficiency
43.5
|
|
Asset Management
|
49.71M
|
28.7
Composite
|
$3.87
|
Efficiency
36.4
|
|
Asset Management
|
49.40M
|
34.5
Composite
|
$1.07
|
Valuation
53.0
|
|
BENF
Beneficient
Asset Management
|
48.05M
|
35.0
Composite
|
$3.00
|
Profitability
64.8
|
|
Capital Markets
|
46.03M
|
33.9
Composite
|
$2.92
|
Health
55.0
|
|
Capital Markets
|
44.39M
|
39.0
Composite
|
$7.42
|
Valuation
51.4
|
|
ARBK
Argo Blockchain plc
Capital Markets
|
44.09M
|
31.4
Composite
|
$2.88
|
Profitability
38.1
|
|
HGBL
Heritage Global Inc.
Capital Markets
|
43.10M
|
47.5
Composite
|
$1.06
|
Valuation
66.0
|
|
Capital Markets
|
41.40M
|
46.9
Composite
|
$0.89
|
Profitability
70.3
|
|
GSIW
Garden Stage Limited
Capital Markets
|
37.84M
|
35.4
Composite
|
$16.65
|
Growth
72.7
|
|
Asset Management
|
36.96M
|
48.1
Composite
|
$3.10
|
Valuation
55.5
|
|
Capital Markets
|
36.41M
|
29.8
Composite
|
$1.95
|
Profitability
45.3
|
|
Capital Markets
|
35.40M
|
33.0
Composite
|
$2.92
|
Health
47.8
|
|
Asset Management
|
35.02M
|
24.4
Composite
|
$2.92
|
Growth
35.9
|
|
COHN
Cohen & Company Inc.
Capital Markets
|
32.50M
|
47.7
Composite
|
$11.26
|
Growth
62.6
|
|
Asset Management
|
30.59M
|
28.1
Composite
|
$10.29
|
Health
54.8
|
|
Asset Management
|
25.55M
|
46.3
Composite
|
$1.35
|
Growth
59.5
|
|
Asset Management
|
16.76M
|
43.1
Composite
|
$1.20
|
Profitability
55.2
|
|
SOS
SOS Limited
Capital Markets
|
16.72M
|
27.0
Composite
|
$0.81
|
Efficiency
43.8
|
|
Asset Management
|
13.20M
|
34.8
Composite
|
$0.84
|
Efficiency
49.9
|
|
Capital Markets
|
10.68M
|
27.6
Composite
|
$7.36
|
Growth
38.2
|
|
ANY
Sphere 3D Corp.
Capital Markets
|
10.00M
|
24.9
Composite
|
$2.10
|
Efficiency
37.1
|
|
CWD
CaliberCos Inc.
Asset Management
|
6.19M
|
27.6
Composite
|
$0.52
|
Efficiency
51.3
|
|
Capital Markets
|
6.15M
|
30.2
Composite
|
$1.20
|
Efficiency
47.3
|
|
WAI
Top KingWin Ltd
Capital Markets
|
4.48M
|
26.7
Composite
|
$2.56
|
Efficiency
58.4
|
|
NCPL
Netcapital Inc.
Capital Markets
|
3.99M
|
26.6
Composite
|
$0.41
|
Efficiency
38.3
|
|
ABTS
Abits Group Inc
Capital Markets
|
2.80M
|
38.6
Composite
|
$1.38
|
Valuation
52.9
|
|
BTOG
Bit Origin Limited
Financial Data & Stock Exchanges
|
1.85M
|
24.2
Composite
|
$0.82
|
Efficiency
52.3
|
|
Capital Markets
|
1.67M
|
27.8
Composite
|
$0.90
|
Efficiency
59.2
|
|
Capital Markets
|
1.55M
|
51.1
Composite
|
$0.08
|
Growth
56.7
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Capital Markets
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Asset Management
|
-
|
37.9
Composite
|
$61.11
|
Growth
58.8
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
BENFW
Beneficient Warrant
Asset Management
|
-
|
37.7
Composite
|
$0.01
|
Profitability
65.1
|
|
Asset Management
|
-
|
45.2
Composite
|
$0.09
|
Growth
73.2
|
|
FUFUW
BitFuFu Inc. Warrant
Capital Markets
|
-
|
28.3
Composite
|
$0.14
|
Growth
43.5
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Asset Management
|
-
|
0.0
Composite
|
$16.12
|
No pillar score
-
|
|
CLSKW
CleanSpark, Inc. Warrant
Capital Markets
|
-
|
27.2
Composite
|
$0.35
|
Efficiency
35.4
|
|
Capital Markets
|
-
|
44.1
Composite
|
$0.26
|
Growth
57.8
|
|
Capital Markets
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Financial Data & Stock Exchanges
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Asset Management
|
-
|
35.4
Composite
|
$24.84
|
Efficiency
46.6
|
|
Asset Management
|
-
|
44.8
Composite
|
$24.98
|
Efficiency
59.8
|
|
Asset Management
|
-
|
51.3
Composite
|
-
|
Growth
74.5
|
|
GCMGW
GCM Grosvenor Inc.
Asset Management
|
-
|
0.0
Composite
|
$0.01
|
No pillar score
-
|
|
Capital Markets
|
-
|
31.8
Composite
|
-
|
Valuation
46.0
|
|
Capital Markets
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
LGHLW
Lion Group Holding Ltd.
Capital Markets
|
-
|
28.1
Composite
|
-
|
Efficiency
42.8
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Capital Markets
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Capital Markets
|
-
|
24.3
Composite
|
$0.02
|
Efficiency
38.3
|
|
Asset Management
|
-
|
41.6
Composite
|
$18.39
|
Valuation
100.0
|
|
Asset Management
|
-
|
40.6
Composite
|
$24.91
|
Growth
44.8
|
|
Asset Management
|
-
|
40.6
Composite
|
$24.98
|
Growth
44.8
|
|
Asset Management
|
-
|
41.0
Composite
|
$25.01
|
Efficiency
59.5
|
|
Asset Management
|
-
|
41.0
Composite
|
$24.76
|
Efficiency
59.5
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Asset Management
|
-
|
25.1
Composite
|
$0.14
|
Growth
51.0
|
|
Capital Markets
|
-
|
28.3
Composite
|
$11.75
|
Efficiency
57.4
|
|
Capital Markets
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
Try a broader company name, ticker, sector, or industry keyword.
This framework combines industry-specific diagnostics, moat context, and peer benchmarks so each signal stays grounded in how this business model actually compounds.
We group asset managers, capital-markets firms, and exchange-style financial-data businesses into a dedicated framework because their economics are driven by fee revenue, operating leverage, and payout capacity. The money-flow engine starts with total revenue, then moves through operating expense, operating income as a proxy for fee-related earnings, EBITDA, net income, free cash flow, and capital returns.
The scoring and trade-off layers reinforce that same lens. Revenue and EPS growth matter more than loan growth or NIM. ROE, operating margin, net margin, free-cash-flow margin, interest coverage, and leverage tell a cleaner story here than banking metrics do. StatsAlpha(TM) explicitly disables bank-specific measures and treats interest coverage as meaningful again for these businesses.
The moat and valuation layers are equally specialized. The moat template looks for fee-revenue quality, client retention, compensation discipline, capital efficiency, earnings quality, and balance-sheet strength. Valuation then shifts to an earnings-and-payout engine that resembles a DDM or EPS-based framework rather than a traditional industrial DCF. This framework is for informational purposes only, not investment advice.
Each layer answers a different question: where value is created, what protects it, and how execution compares with the rest of the coverage set.
Benchmarks and narrative cues are meant to clarify what the framework is seeing in the data. They are not investment advice.
Coverage starts with the companies that actually operate inside this business model, so peer comparisons stay relevant instead of generic.
The Asset Management & Capital Markets layer isolates the cash-flow mechanics, capital demands, and operating risk that matter most for this industry.
We then layer in Asset Management Specialized, pillar ranges, and peer leaders to show what strong execution looks like relative to the broader cohort.