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.
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
|
299.95B
|
56.7
Composite
|
$190.17
|
Profitability
67.5
|
|
Capital Markets
|
273.14B
|
55.1
Composite
|
$925.87
|
Valuation
62.9
|
|
BLK
BlackRock, Inc.
Asset Management
|
165.75B
|
47.5
Composite
|
$1,067.74
|
Growth
50.1
|
|
Capital Markets
|
156.82B
|
61.1
Composite
|
$89.50
|
Profitability
80.5
|
|
Asset Management
|
146.94B
|
59.1
Composite
|
$122.33
|
Efficiency
67.7
|
|
SPGI
S&P Global Inc.
Financial Data & Stock Exchanges
|
126.89B
|
57.5
Composite
|
$428.68
|
Profitability
76.1
|
|
Asset Management
|
115.19B
|
41.8
Composite
|
$46.51
|
Growth
49.9
|
|
CME
CME Group Inc.
Financial Data & Stock Exchanges
|
103.94B
|
56.2
Composite
|
$286.85
|
Profitability
75.5
|
|
KKR
KKR & Co. Inc.
Asset Management
|
89.46B
|
49.8
Composite
|
$100.34
|
Efficiency
65.8
|
|
Financial Data & Stock Exchanges
|
88.28B
|
47.1
Composite
|
$156.11
|
Profitability
65.0
|
|
Asset Management
|
78.67B
|
62.2
Composite
|
$48.79
|
Profitability
75.2
|
|
Financial Data & Stock Exchanges
|
78.38B
|
61.0
Composite
|
$457.10
|
Profitability
72.8
|
|
Asset Management
|
73.67B
|
53.0
Composite
|
$127.79
|
Profitability
60.9
|
|
Capital Markets
|
72.42B
|
56.4
Composite
|
$19.32
|
Valuation
100.0
|
|
Capital Markets
|
68.69B
|
65.8
Composite
|
$76.28
|
Profitability
79.9
|
|
Capital Markets
|
68.67B
|
56.4
Composite
|
$19.11
|
Valuation
100.0
|
|
Capital Markets
|
67.61B
|
55.3
Composite
|
$19.48
|
Valuation
100.0
|
|
Capital Markets
|
65.98B
|
55.3
Composite
|
$25.11
|
Valuation
100.0
|
|
Capital Markets
|
64.97B
|
55.3
Composite
|
$25.39
|
Valuation
100.0
|
|
Capital Markets
|
64.96B
|
55.3
Composite
|
$25.24
|
Valuation
100.0
|
|
Capital Markets
|
63.96B
|
55.3
Composite
|
$24.27
|
Valuation
100.0
|
|
Financial Data & Stock Exchanges
|
50.84B
|
55.1
Composite
|
$192.96
|
Efficiency
70.5
|
|
NDAQ
Nasdaq, Inc.
Financial Data & Stock Exchanges
|
50.45B
|
49.8
Composite
|
$89.00
|
Growth
66.6
|
|
SCHW-PD
The Charles Schwab Corporation
Capital Markets
|
49.43B
|
38.1
Composite
|
$24.97
|
Growth
38.5
|
|
MSCI
MSCI Inc.
Financial Data & Stock Exchanges
|
42.83B
|
55.6
Composite
|
$588.37
|
Profitability
78.0
|
|
Asset Management
|
41.25B
|
56.9
Composite
|
$458.84
|
Growth
62.0
|
|
Asset Management
|
41.21B
|
53.3
Composite
|
$123.15
|
Growth
63.1
|
|
Asset Management
|
41.18B
|
51.4
Composite
|
$148.78
|
Valuation
60.4
|
|
Capital Markets
|
37.29B
|
55.7
Composite
|
$83.71
|
Profitability
72.5
|
|
Financial Data & Stock Exchanges
|
35.44B
|
55.5
Composite
|
$338.65
|
Growth
71.2
|
|
Asset Management
|
30.21B
|
54.1
Composite
|
$160.03
|
Valuation
61.7
|
|
Asset Management
|
29.92B
|
46.4
Composite
|
$153.53
|
Efficiency
61.3
|
|
Capital Markets
|
24.76B
|
52.4
Composite
|
$309.62
|
Growth
65.8
|
|
Capital Markets
|
23.55B
|
67.5
Composite
|
$144.89
|
Profitability
87.8
|
|
Capital Markets
|
23.52B
|
69.1
Composite
|
$110.45
|
Profitability
91.7
|
|
Capital Markets
|
23.35B
|
52.4
Composite
|
$7.90
|
Efficiency
66.2
|
|
Asset Management
|
22.20B
|
53.5
Composite
|
$103.59
|
Profitability
67.4
|
|
Asset Management
|
21.61B
|
52.2
Composite
|
$100.03
|
Efficiency
68.6
|
|
IREN
IREN LIMITED
Capital Markets
|
18.89B
|
41.5
Composite
|
$56.85
|
Growth
57.7
|
|
Asset Management
|
17.70B
|
44.9
Composite
|
$49.01
|
Health
53.7
|
|
TPG
TPG Inc.
Asset Management
|
17.09B
|
47.2
Composite
|
$44.48
|
Efficiency
83.9
|
|
Asset Management
|
16.80B
|
54.0
Composite
|
$22.22
|
Valuation
100.0
|
|
Asset Management
|
16.14B
|
46.5
Composite
|
$10.35
|
Efficiency
64.2
|
|
Asset Management
|
15.86B
|
46.0
Composite
|
$30.52
|
Health
53.8
|
|
TRU
TransUnion
Financial Data & Stock Exchanges
|
14.06B
|
49.9
Composite
|
$72.95
|
Growth
63.6
|
|
Asset Management
|
13.61B
|
54.7
Composite
|
$18.96
|
Profitability
79.8
|
|
EVR
Evercore Inc.
Capital Markets
|
12.81B
|
65.3
Composite
|
$331.28
|
Profitability
76.7
|
|
Asset Management
|
12.81B
|
28.9
Composite
|
$27.45
|
Efficiency
48.4
|
|
Asset Management
|
12.06B
|
29.2
Composite
|
$42.85
|
Efficiency
49.4
|
|
Capital Markets
|
12.04B
|
56.2
Composite
|
$76.16
|
Profitability
68.8
|
|
IVZ
Invesco Ltd
Asset Management
|
11.89B
|
31.6
Composite
|
$26.83
|
Efficiency
45.4
|
|
WULF
TeraWulf Inc.
Capital Markets
|
11.83B
|
33.8
Composite
|
$24.02
|
Health
41.8
|
|
HUT
Hut 8 Corp.
Capital Markets
|
11.39B
|
39.0
Composite
|
$101.18
|
Efficiency
52.4
|
|
Asset Management
|
10.97B
|
55.9
Composite
|
$89.89
|
Profitability
67.7
|
|
Capital Markets
|
10.71B
|
63.7
Composite
|
$153.50
|
Profitability
72.8
|
|
Capital Markets
|
10.58B
|
51.9
Composite
|
$51.46
|
Profitability
65.9
|
|
XP
XP Inc.
Capital Markets
|
10.09B
|
59.0
Composite
|
$18.79
|
Profitability
68.6
|
|
SNEX
StoneX Group Inc.
Capital Markets
|
9.58B
|
44.7
Composite
|
$120.90
|
Growth
64.5
|
|
RIOT
Riot Platforms, Inc.
Capital Markets
|
9.12B
|
51.3
Composite
|
$24.11
|
Profitability
61.3
|
|
Capital Markets
|
8.51B
|
51.7
Composite
|
$139.03
|
Profitability
62.8
|
|
CIFR
Cipher Mining Inc.
Capital Markets
|
8.46B
|
31.4
Composite
|
$20.68
|
Growth
39.1
|
|
Financial Data & Stock Exchanges
|
8.16B
|
49.4
Composite
|
$223.98
|
Profitability
57.2
|
|
Asset Management
|
7.97B
|
54.9
Composite
|
$51.68
|
Growth
63.6
|
|
Asset Management
|
7.95B
|
52.0
Composite
|
$297.76
|
Efficiency
62.8
|
|
Capital Markets
|
7.68B
|
55.0
Composite
|
$49.54
|
Profitability
66.9
|
|
Asset Management
|
7.34B
|
61.8
Composite
|
$17.70
|
Profitability
86.8
|
|
Asset Management
|
7.24B
|
32.1
Composite
|
$33.61
|
Growth
50.8
|
|
MORN
Morningstar, Inc.
Financial Data & Stock Exchanges
|
6.77B
|
49.0
Composite
|
$177.91
|
Profitability
60.1
|
|
STEP
StepStone Group Inc.
Asset Management
|
6.39B
|
31.3
Composite
|
$54.18
|
Efficiency
64.9
|
|
Capital Markets
|
5.74B
|
60.1
Composite
|
$80.46
|
Profitability
66.8
|
|
Asset Management
|
5.66B
|
40.9
Composite
|
$24.36
|
Efficiency
82.8
|
|
Asset Management
|
5.66B
|
51.1
Composite
|
$11.39
|
Profitability
61.2
|
|
Asset Management
|
5.36B
|
53.8
Composite
|
$83.69
|
Growth
69.7
|
|
BGC
BGC Group, Inc.
Capital Markets
|
5.31B
|
54.0
Composite
|
$11.29
|
Profitability
65.3
|
|
Capital Markets
|
5.29B
|
66.4
Composite
|
$152.66
|
Profitability
83.3
|
|
LAZ
Lazard, Inc.
Capital Markets
|
5.19B
|
58.0
Composite
|
$46.44
|
Profitability
66.3
|
|
Asset Management
|
5.17B
|
51.9
Composite
|
$57.33
|
Profitability
68.5
|
|
Capital Markets
|
5.02B
|
59.9
Composite
|
$63.91
|
Profitability
78.9
|
|
Asset Management
|
4.96B
|
61.0
Composite
|
$88.96
|
Valuation
73.1
|
|
MARA
MARA Holdings, Inc.
Capital Markets
|
4.83B
|
49.0
Composite
|
$12.70
|
Growth
66.6
|
|
Asset Management
|
4.13B
|
55.9
Composite
|
$54.34
|
Efficiency
67.7
|
|
Capital Markets
|
3.96B
|
60.3
Composite
|
$153.19
|
Profitability
79.2
|
|
SII
Sprott Inc.
Asset Management
|
3.93B
|
57.4
Composite
|
$142.36
|
Valuation
75.5
|
|
Asset Management
|
3.72B
|
57.8
Composite
|
$39.81
|
Profitability
73.5
|
|
Asset Management
|
3.63B
|
56.2
Composite
|
$71.10
|
Profitability
65.5
|
|
MRX
Marex Group plc
Capital Markets
|
3.60B
|
57.4
Composite
|
$51.88
|
Efficiency
59.2
|
|
CLSK
CleanSpark, Inc.
Capital Markets
|
3.58B
|
26.3
Composite
|
$13.98
|
Efficiency
45.0
|
|
Asset Management
|
3.43B
|
55.9
Composite
|
$13.15
|
Profitability
65.7
|
|
Asset Management
|
3.07B
|
57.4
Composite
|
$16.40
|
Profitability
76.8
|
|
Asset Management
|
3.07B
|
41.4
Composite
|
$10.95
|
Efficiency
69.7
|
|
Asset Management
|
2.85B
|
48.1
Composite
|
$15.64
|
Efficiency
67.6
|
|
Asset Management
|
2.70B
|
51.6
Composite
|
$18.72
|
Efficiency
57.0
|
|
Asset Management
|
2.69B
|
58.4
Composite
|
$37.61
|
Profitability
66.0
|
|
BITF
Bitfarms Ltd.
Capital Markets
|
2.48B
|
28.8
Composite
|
$4.12
|
Growth
45.8
|
|
Asset Management
|
2.43B
|
56.5
Composite
|
$66.53
|
Growth
91.0
|
|
GCMG
GCM Grosvenor Inc.
Asset Management
|
2.26B
|
51.8
Composite
|
$11.16
|
Efficiency
74.0
|
|
Asset Management
|
2.09B
|
51.8
Composite
|
$12.04
|
Profitability
59.8
|
|
Asset Management
|
1.77B
|
56.7
Composite
|
$27.54
|
Profitability
74.0
|
|
Capital Markets
|
1.75B
|
46.9
Composite
|
$18.83
|
Valuation
64.7
|
|
Asset Management
|
1.70B
|
49.6
Composite
|
$17.89
|
Profitability
67.3
|
|
Asset Management
|
1.67B
|
61.3
Composite
|
$17.54
|
Valuation
75.0
|
|
Asset Management
|
1.55B
|
59.8
Composite
|
$15.45
|
Profitability
76.6
|
|
TRIN
Trinity Capital Inc.
Asset Management
|
1.54B
|
46.2
Composite
|
$17.02
|
Growth
57.5
|
|
Asset Management
|
1.44B
|
49.3
Composite
|
$23.99
|
Profitability
61.6
|
|
Asset Management
|
1.43B
|
62.2
Composite
|
$15.04
|
Profitability
88.1
|
|
Asset Management
|
1.34B
|
49.9
Composite
|
$15.51
|
Profitability
61.1
|
|
Asset Management
|
1.34B
|
41.6
Composite
|
$2.75
|
Efficiency
63.0
|
|
Asset Management
|
1.16B
|
42.8
Composite
|
$5.16
|
Growth
52.6
|
|
Capital Markets
|
1.14B
|
60.1
Composite
|
$6.43
|
Profitability
75.3
|
|
Asset Management
|
1.12B
|
41.9
Composite
|
$9.94
|
Valuation
52.8
|
|
Asset Management
|
1.09B
|
55.7
Composite
|
$15.21
|
Growth
70.9
|
|
Asset Management
|
1.08B
|
34.5
Composite
|
$12.21
|
Health
46.5
|
|
PTA
240905
Asset Management
|
1.05B
|
60.2
Composite
|
$19.78
|
Profitability
86.7
|
|
Capital Markets
|
1.03B
|
49.7
Composite
|
$95.03
|
Profitability
57.8
|
|
Asset Management
|
1.01B
|
68.0
Composite
|
$15.23
|
Profitability
80.5
|
|
Asset Management
|
1.01B
|
63.6
Composite
|
$5.15
|
Profitability
84.7
|
|
Asset Management
|
975.70M
|
51.6
Composite
|
$11.85
|
Efficiency
64.4
|
|
Asset Management
|
949.80M
|
50.9
Composite
|
$141.85
|
Efficiency
66.5
|
|
Asset Management
|
945.10M
|
0.0
Composite
|
$21.00
|
No pillar score
-
|
|
BBDC
Barings BDC, Inc.
Asset Management
|
931.90M
|
47.0
Composite
|
$8.90
|
Profitability
49.8
|
|
Asset Management
|
904.92M
|
55.7
Composite
|
$13.81
|
Efficiency
68.8
|
|
Asset Management
|
890.02M
|
56.6
Composite
|
$14.08
|
Efficiency
70.6
|
|
Asset Management
|
839.60M
|
49.0
Composite
|
$11.78
|
Growth
62.5
|
|
Asset Management
|
835.49M
|
0.0
Composite
|
$25.66
|
No pillar score
-
|
|
Asset Management
|
797.20M
|
48.4
Composite
|
$8.44
|
Efficiency
65.1
|
|
PX
P10, Inc.
Asset Management
|
775.30M
|
37.4
Composite
|
$7.08
|
Growth
51.9
|
|
Asset Management
|
766.14M
|
57.8
Composite
|
$15.22
|
Profitability
80.2
|
|
SLRC
SLR Investment Corp.
Asset Management
|
761.00M
|
52.7
Composite
|
$13.66
|
Efficiency
64.0
|
|
Asset Management
|
753.88M
|
0.0
Composite
|
$24.19
|
No pillar score
-
|
|
Asset Management
|
727.49M
|
55.5
Composite
|
$10.84
|
Profitability
63.6
|
|
SWIN
Solowin Holdings
Capital Markets
|
710.47M
|
0.0
Composite
|
$3.65
|
No pillar score
-
|
|
Asset Management
|
708.21M
|
62.9
Composite
|
$22.02
|
Profitability
78.8
|
|
Asset Management
|
706.32M
|
50.9
Composite
|
$10.82
|
Profitability
58.2
|
|
Asset Management
|
700.30M
|
49.1
Composite
|
$18.45
|
Profitability
58.3
|
|
Capital Markets
|
697.70M
|
36.0
Composite
|
$2.87
|
Growth
54.5
|
|
Asset Management
|
695.62M
|
61.5
Composite
|
$13.86
|
Profitability
88.3
|
|
Asset Management
|
691.91M
|
49.9
Composite
|
$14.01
|
Profitability
59.4
|
|
Asset Management
|
690.23M
|
0.0
Composite
|
$14.23
|
No pillar score
-
|
|
Asset Management
|
679.95M
|
61.9
Composite
|
$14.69
|
Profitability
84.8
|
|
Asset Management
|
657.50M
|
46.8
Composite
|
$16.51
|
Growth
69.2
|
|
DXYZ
Destiny Tech100 Inc
Asset Management
|
648.30M
|
43.8
Composite
|
$45.00
|
Health
52.9
|
|
BTBT
Bit Digital, Inc.
Capital Markets
|
630.30M
|
48.8
Composite
|
$1.83
|
Profitability
71.7
|
|
Capital Markets
|
619.05M
|
28.6
Composite
|
$45.00
|
Health
50.0
|
|
Asset Management
|
598.34M
|
48.0
Composite
|
$13.04
|
Growth
61.0
|
|
Asset Management
|
596.31M
|
50.9
Composite
|
$10.36
|
Efficiency
69.1
|
|
Asset Management
|
591.56M
|
44.6
Composite
|
$10.81
|
Efficiency
78.6
|
|
ALTI
AlTi Global, Inc.
Asset Management
|
575.60M
|
27.6
Composite
|
$3.82
|
Efficiency
60.0
|
|
INV
Innventure, Inc.
Asset Management
|
558.08M
|
27.1
Composite
|
$6.21
|
Efficiency
39.8
|
|
Asset Management
|
514.16M
|
54.1
Composite
|
$15.80
|
Profitability
82.2
|
|
Asset Management
|
508.33M
|
51.0
Composite
|
$13.60
|
Growth
64.3
|
|
Asset Management
|
500.11M
|
46.8
Composite
|
$13.50
|
Profitability
75.5
|
|
Asset Management
|
473.40M
|
50.3
Composite
|
$174.99
|
Growth
68.7
|
|
Asset Management
|
434.00M
|
45.7
Composite
|
$19.99
|
Profitability
63.4
|
|
Asset Management
|
430.20M
|
50.9
Composite
|
$23.95
|
Efficiency
85.5
|
|
Asset Management
|
426.90M
|
64.7
Composite
|
$12.86
|
Profitability
85.7
|
|
Asset Management
|
421.16M
|
60.8
Composite
|
$13.97
|
Profitability
83.6
|
|
Asset Management
|
393.29M
|
0.0
Composite
|
$16.04
|
No pillar score
-
|
|
FUFU
BitFuFu Inc.
Capital Markets
|
388.30M
|
45.6
Composite
|
$2.28
|
Growth
67.6
|
|
Asset Management
|
373.17M
|
43.1
Composite
|
$7.39
|
Valuation
53.0
|
|
Asset Management
|
367.70M
|
45.6
Composite
|
$4.36
|
Efficiency
71.5
|
|
Asset Management
|
363.40M
|
45.7
Composite
|
$22.34
|
Profitability
60.4
|
|
Asset Management
|
358.46M
|
48.1
Composite
|
$10.98
|
Growth
61.1
|
|
SSSS
SuRo Capital Corp.
Asset Management
|
350.60M
|
41.8
Composite
|
$13.45
|
Efficiency
48.3
|
|
VALU
Value Line, Inc.
Financial Data & Stock Exchanges
|
325.90M
|
50.0
Composite
|
$34.68
|
Valuation
64.8
|
|
Asset Management
|
316.00M
|
39.0
Composite
|
$4.79
|
Efficiency
75.6
|
|
Asset Management
|
307.86M
|
48.5
Composite
|
$4.51
|
Profitability
59.5
|
|
Asset Management
|
305.13M
|
0.0
Composite
|
$13.13
|
No pillar score
-
|
|
NXG
733085
Asset Management
|
301.87M
|
58.9
Composite
|
$58.41
|
Profitability
75.5
|
|
Asset Management
|
298.96M
|
39.4
Composite
|
$10.11
|
Profitability
57.9
|
|
BRW
187480
Asset Management
|
294.63M
|
60.6
Composite
|
$6.88
|
Profitability
87.6
|
|
NPCT
102479
Asset Management
|
292.73M
|
55.8
Composite
|
$10.53
|
Profitability
84.1
|
|
Asset Management
|
280.80M
|
34.0
Composite
|
$9.70
|
Health
49.8
|
|
Asset Management
|
271.91M
|
45.3
Composite
|
$13.59
|
Profitability
55.5
|
|
MKTW
MarketWise, Inc.
Financial Data & Stock Exchanges
|
269.30M
|
31.3
Composite
|
$16.63
|
Valuation
49.5
|
|
Asset Management
|
268.66M
|
45.9
Composite
|
$14.42
|
Profitability
54.1
|
|
Asset Management
|
246.99M
|
54.9
Composite
|
$15.81
|
Profitability
79.0
|
|
Asset Management
|
244.03M
|
55.9
Composite
|
$10.59
|
Efficiency
72.9
|
|
Asset Management
|
242.80M
|
46.6
Composite
|
$5.98
|
Profitability
57.5
|
|
Asset Management
|
223.52M
|
36.0
Composite
|
$11.03
|
Efficiency
54.5
|
|
Asset Management
|
213.14M
|
53.2
Composite
|
$9.34
|
Growth
73.4
|
|
Asset Management
|
193.35M
|
0.0
Composite
|
$8.22
|
No pillar score
-
|
|
Asset Management
|
192.30M
|
49.2
Composite
|
$15.90
|
Profitability
62.7
|
|
Asset Management
|
182.20M
|
39.0
Composite
|
$4.85
|
Health
50.4
|
|
Asset Management
|
176.80M
|
32.2
Composite
|
$1.86
|
Efficiency
71.1
|
|
Capital Markets
|
172.04M
|
28.5
Composite
|
$1.52
|
Efficiency
54.8
|
|
Asset Management
|
169.00M
|
35.8
Composite
|
$7.58
|
Efficiency
46.6
|
|
Asset Management
|
161.60M
|
44.2
Composite
|
$13.70
|
Efficiency
58.4
|
|
BMN
53753
Asset Management
|
160.33M
|
53.8
Composite
|
$25.85
|
Profitability
71.0
|
|
Asset Management
|
151.29M
|
59.7
Composite
|
$19.77
|
Profitability
80.5
|
|
Asset Management
|
139.43M
|
50.3
Composite
|
$16.38
|
Efficiency
76.5
|
|
Asset Management
|
119.89M
|
43.1
Composite
|
$14.95
|
Profitability
53.7
|
|
BTCS
BTCS Inc.
Capital Markets
|
113.90M
|
44.6
Composite
|
$2.33
|
Profitability
61.8
|
|
Asset Management
|
110.10M
|
34.2
Composite
|
$5.08
|
Efficiency
49.8
|
|
Capital Markets
|
102.20M
|
39.6
Composite
|
$6.71
|
Valuation
47.3
|
|
Asset Management
|
94.28M
|
0.0
Composite
|
$15.36
|
No pillar score
-
|
|
Capital Markets
|
87.97M
|
25.5
Composite
|
$5.66
|
Efficiency
43.5
|
|
Asset Management
|
86.40M
|
0.0
Composite
|
$14.58
|
No pillar score
-
|
|
Asset Management
|
79.03M
|
45.9
Composite
|
$3.41
|
Efficiency
67.1
|
|
Asset Management
|
78.70M
|
36.8
Composite
|
$40.72
|
Efficiency
49.1
|
|
Asset Management
|
78.60M
|
38.9
Composite
|
$5.66
|
Growth
46.9
|
|
Asset Management
|
78.20M
|
44.9
Composite
|
$10.20
|
Valuation
55.7
|
|
Capital Markets
|
73.30M
|
51.4
Composite
|
$1.79
|
Efficiency
68.0
|
|
Asset Management
|
72.42M
|
56.8
Composite
|
$10.94
|
Valuation
75.8
|
|
Asset Management
|
71.26M
|
30.5
Composite
|
$7.49
|
Profitability
39.3
|
|
AMTD
AMTD IDEA Group
Asset Management
|
69.48M
|
42.7
Composite
|
$1.05
|
Profitability
59.2
|
|
Asset Management
|
67.10M
|
25.9
Composite
|
$2.05
|
Efficiency
48.5
|
|
Capital Markets
|
59.32M
|
49.5
Composite
|
$5.22
|
Profitability
56.4
|
|
Asset Management
|
52.30M
|
33.3
Composite
|
$3.90
|
Health
48.8
|
|
BENF
Beneficient
Asset Management
|
50.03M
|
40.3
Composite
|
$3.52
|
Profitability
58.6
|
|
Asset Management
|
49.20M
|
25.6
Composite
|
$1.12
|
Efficiency
52.8
|
|
HGBL
Heritage Global Inc.
Capital Markets
|
46.60M
|
50.9
Composite
|
$1.33
|
Valuation
62.9
|
|
Capital Markets
|
44.82M
|
32.8
Composite
|
$2.92
|
Health
54.9
|
|
Asset Management
|
43.93M
|
27.6
Composite
|
$2.95
|
Growth
43.0
|
|
Capital Markets
|
42.70M
|
46.1
Composite
|
$1.03
|
Profitability
78.0
|
|
Capital Markets
|
40.07M
|
31.4
Composite
|
$3.58
|
Efficiency
53.0
|
|
GSIW
Garden Stage Limited
Capital Markets
|
38.89M
|
31.8
Composite
|
$29.23
|
Growth
70.6
|
|
Asset Management
|
35.61M
|
46.9
Composite
|
$2.08
|
Growth
54.9
|
|
COHN
Cohen & Company Inc.
Capital Markets
|
34.50M
|
45.1
Composite
|
$14.21
|
Efficiency
64.2
|
|
Capital Markets
|
34.29M
|
40.0
Composite
|
$6.79
|
Growth
58.6
|
|
Asset Management
|
32.90M
|
38.5
Composite
|
$10.73
|
Profitability
60.3
|
|
Asset Management
|
32.90M
|
37.4
Composite
|
$2.62
|
Health
56.6
|
|
Capital Markets
|
29.18M
|
43.0
Composite
|
$0.78
|
Efficiency
72.3
|
|
Asset Management
|
25.00M
|
43.3
Composite
|
$1.67
|
Profitability
55.7
|
|
Capital Markets
|
20.12M
|
48.3
Composite
|
$1.24
|
Profitability
62.3
|
|
Asset Management
|
15.80M
|
32.4
Composite
|
$1.13
|
Profitability
42.7
|
|
SOS
SOS Limited
Capital Markets
|
9.89M
|
41.4
Composite
|
$1.11
|
Growth
49.5
|
|
Capital Markets
|
9.71M
|
29.2
Composite
|
$8.24
|
Growth
48.0
|
|
CWD
CaliberCos Inc.
Asset Management
|
6.77M
|
26.1
Composite
|
$0.96
|
Efficiency
48.4
|
|
ANY
Sphere 3D Corp.
Capital Markets
|
6.70M
|
28.9
Composite
|
$1.98
|
Growth
50.9
|
|
Capital Markets
|
5.77M
|
27.9
Composite
|
$1.16
|
Efficiency
52.5
|
|
WAI
Top KingWin Ltd
Capital Markets
|
4.80M
|
25.9
Composite
|
$2.04
|
Efficiency
47.7
|
|
BTOG
Bit Origin Limited
Financial Data & Stock Exchanges
|
3.41M
|
25.2
Composite
|
$2.04
|
Health
37.8
|
|
NCPL
Netcapital Inc.
Capital Markets
|
3.12M
|
26.0
Composite
|
$0.38
|
Efficiency
50.2
|
|
ABTS
Abits Group Inc
Capital Markets
|
2.80M
|
42.4
Composite
|
$1.15
|
Efficiency
53.0
|
|
ARBK
Argo Blockchain plc
Capital Markets
|
1.26M
|
23.3
Composite
|
$3.54
|
Efficiency
42.7
|
|
Capital Markets
|
28,254
|
30.7
Composite
|
$0.78
|
Profitability
50.3
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Capital Markets
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Asset Management
|
-
|
54.2
Composite
|
$65.00
|
Growth
66.0
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
BENFW
Beneficient Warrant
Asset Management
|
-
|
42.9
Composite
|
$0.01
|
Profitability
59.9
|
|
Asset Management
|
-
|
45.6
Composite
|
$0.16
|
Growth
57.8
|
|
FUFUW
BitFuFu Inc. Warrant
Capital Markets
|
-
|
45.7
Composite
|
$0.22
|
Growth
65.8
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Asset Management
|
-
|
0.0
Composite
|
$16.95
|
No pillar score
-
|
|
CLSKW
CleanSpark, Inc. Warrant
Capital Markets
|
-
|
25.3
Composite
|
$0.30
|
Efficiency
43.0
|
|
Capital Markets
|
-
|
45.2
Composite
|
$0.26
|
Efficiency
73.2
|
|
Capital Markets
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Financial Data & Stock Exchanges
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Asset Management
|
-
|
47.3
Composite
|
$24.25
|
Efficiency
59.0
|
|
Asset Management
|
-
|
62.5
Composite
|
-
|
Profitability
86.3
|
|
Asset Management
|
-
|
63.1
Composite
|
$25.02
|
Valuation
79.4
|
|
GCMGW
GCM Grosvenor Inc.
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Capital Markets
|
-
|
36.5
Composite
|
-
|
Valuation
92.1
|
|
Capital Markets
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
LGHLW
Lion Group Holding Ltd.
Capital Markets
|
-
|
30.7
Composite
|
-
|
Profitability
50.7
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Capital Markets
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Capital Markets
|
-
|
24.9
Composite
|
$0.02
|
Efficiency
50.2
|
|
Asset Management
|
-
|
49.1
Composite
|
$19.18
|
Valuation
100.0
|
|
Asset Management
|
-
|
47.0
Composite
|
$24.73
|
Efficiency
67.1
|
|
Asset Management
|
-
|
47.0
Composite
|
$24.98
|
Efficiency
67.1
|
|
Asset Management
|
-
|
51.9
Composite
|
$25.05
|
Efficiency
85.5
|
|
Asset Management
|
-
|
51.9
Composite
|
$24.78
|
Efficiency
85.5
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Asset Management
|
-
|
0.0
Composite
|
-
|
No pillar score
-
|
|
Asset Management
|
-
|
26.1
Composite
|
$0.28
|
Growth
61.3
|
|
Capital Markets
|
-
|
27.7
Composite
|
$9.50
|
Efficiency
54.0
|
|
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, pillar ranges, and peer leaders to show what strong execution looks like relative to the broader cohort.