A-Mark Precious Metals, Inc.

A-Mark Precious Metals, Inc.

AMRKยทNASDAQ

$42.83

+13%
Financial ServicesFinancial - Capital Markets

A-Mark Precious Metals, Inc., together with its subsidiaries, operates as a precious metals trading company. It operates in three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The Wholesale Sales & Ancillary Services segment sells gold, silver, platinum, and palladium in the form of bars, plates, powders, wafers, grains, ingots, and coins. This segment also offers various ancillary services, including financing, storage, consignment, logistics, and various customized financial programs; and designs and produces minted silver products. The Direct-to-Consumer segment provides access to an array of gold, silver, copper, platinum, and palladium products through its websites and marketplaces. It operates five company-owned websites targeting specific niches within the precious metals retail market. This segment also operates as a direct retailer of precious metals to the investor community and markets its precious metal products on television, radio, and the internet, as well as through customer service outreach. The Secured Lending segment originates and acquires commercial loans secured by bullion and numismatic coins; and serves coin and precious metal dealers, investors, and collectors. The company serves customers, including financial institutions, bullion retailers, industrial manufacturers and fabricators, sovereign mints, refiners, coin and metal dealers, investors, collectors, and e-commerce and other retail customers. It has operations in the United States, rest of North America, Europe, the Asia Pacific, Africa, and Australia. A-Mark Precious Metals, Inc. was founded in 1965 and is headquartered in El Segundo, California.

At a Glance

Live Snapshot
Market Cap$1.06B
EPS0.7300
P/E Ratio58.67
Earnings Date02/05/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is elevated (P/E 58.7).

Valuation inputs: P/E 58.7, earnings yield +1.7%, momentum +12.5%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is soft (ROE +2.7%, ROIC +2.2%).

Profitability stack: net margin +0.2%, ROE +2.7%, ROIC +2.2%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Risk profile is balanced but has notable pressure points to monitor.

Risk factors: liabilities/assets +68.3%, momentum +12.5%, net margin +0.2%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

amrk

A-Mark Precious Metals, Inc. Market vs Earnings Trajectory

AMRK ยท NASDAQ

Loading price and EPS data...

A-Mark Precious Metals, Inc.

A-Mark Precious Metals, Inc. Fair Value Envelope

AMRK ยท NASDAQ

Our analysis suggests that AMRK has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $42.83, this represents a potential HIDDEN relative to our calculated worth for A-Mark Precious Metals, Inc..

Intrinsic Value
Current Price: $42.83
3Y-87.0%
5Y-66.0%
10Y+9.0%
3Y+35.0%
5Y+101.0%
10Y+62.0%
3Y-87.0%
5Y-43.0%
10Y+87.0%
3Y-271.0%
5Y+218.0%
10Y-371.0%
3Y-254.0%
5Y+202.0%
10Y-346.0%
3Y+54.0%
5Y+192.0%
10Y+407.0%
A-Mark Precious Metals, Inc.

A-Mark Precious Metals, Inc. Profit Bridge

AMRK ยท NASDAQ
Revenue10.98B
Cost of Goods Sold (10.77B)
Gross Profit210.92M
Operating Expenses (162.11M)
Operating Income48.80M
Interest Expense (46.20M)
Other Income/Expense-27.53M
Pretax Income21.27M
Income Tax (5.43M)
Net Income17.32M
Net Income
17.32M

Profitability Analysis

Gross Margin

1.9%

Thin margins leave little room for error. Cost management and pricing strategy are critical.

Operating Margin

0.4%

Minimal operating profit suggests high operating costs or pricing challenges. Scalability is concerning.

Net Profit Margin

0.2%

Minimal profitability after all expenses. Limited financial flexibility for reinvestment or shareholder returns.

Effective Tax Rate

25.5%

Higher tax burden may reflect limited tax optimization or operations in high-tax jurisdictions.

Profitability Insight

Efficient profit conversion: Minimal margin compression from gross to net indicates lean operations and favorable tax/interest environment.

1.92%
Gross Profit Margin
8%
3Y-40.0%
5Y+57.0%
10Y+278.0%
0.44%
Operating Profit Margin
-40%
3Y-77.0%
5Y-20.0%
10Y+145.0%
0.16%
Net Profit Margin
-78%
3Y-90.0%
5Y-72.0%
10Y+15.0%
2.67%
Return on Equity
-76%
3Y-90.0%
5Y-91.0%
10Y-82.0%
0.78%
Return on Assets
-79%
3Y-91.0%
5Y-81.0%
10Y-63.0%
2.21%
Return on Invested Capital
-46%
3Y-81.0%
5Y-70.0%
10Y-8.0%
AMRK

A-Mark Precious Metals, Inc. Cash Conversion Engine

AMRK ยท NASDAQ
Net Income15.84M
Depreciation & Amortization22.92M
Stock-Based Compensation1.59M
Change in Working Capital103.89M
Others12.02M
Capital Expenditures-10.68M
Free Cash Flow141.67M

Cash Flow Quality Analysis

FCF Conversion Rate

894.1%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

7.0%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

+213.7%

Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.

Working Capital Impact

+$103.89M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

Cash Flow Quality Insight

Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.

amrk

A-Mark Precious Metals, Inc. Funding & Solvency Profile

AMRK ยท NASDAQ
Cash & Cash Equivalents89.22M
Net Receivables283.14M
Inventory846.07M
Other Current Assets892.88M
Total Current Assets2 B
Property, Plant & Equipment67.04M
Goodwill & Intangible Assets360.80M
Long-Term Investments31.66M
Other Non-Current Assets8.57M
Total Non-Current Assets107 M
Total Assets
2.58B

Financial Health Analysis

Current Ratio

1.37x

Acceptable liquidity, but monitor closely. Current assets just barely cover current liabilities.

Debt-to-Equity Ratio

2.70x

High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.

Working Capital

568 M

Positive working capital, but relatively tight. The company should monitor cash flow carefully.

Asset Composition

82% Current

Asset-light business model with high liquidity. Majority of assets are easily convertible to cash.

amrk

A-Mark Precious Metals, Inc. Street Expectations Map

AMRK ยท NASDAQ

Wall Street analysts project that AMRK stock may decline over the coming 12 months. The consensus 1-year price target stands at 34.00, with estimates ranging from a low of 34.00 to a high of 34.00.

Lowest Target
34.00
-20.62%
Consensus Target
34.00
-20.62%
Highest Target
34.00
-20.62%

The consensus 1-year price target stands at 34.00, with estimates ranging from a low of 34.00 to a high of 34.00.

Analyst Consensus Analysis

Upside Potential

-20.6%

Significant downside risk. Stock trading well above analyst consensus suggests elevated valuation concerns and potential correction.

Analyst Agreement

0.0% spread

High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.

Risk-Reward Profile

1.00x

Balanced risk-reward. Upside and downside potential relatively symmetric. Suitable for moderate risk tolerance with conviction in thesis.

Analyst Conviction

Low

Bearish or uncertain outlook. Limited upside or poor consensus suggests challenges ahead or fundamental concerns.

Market Sentiment Insight

Consensus overvaluation: Analysts agree the stock is richly valued with limited upside. Consider booking profits or defensive positioning unless you have contrarian conviction in unrecognized catalysts.

amrk

A-Mark Precious Metals, Inc. Insider Positioning

AMRK ยท NASDAQ

During the last 12 months, insiders have purchased $2K and sold $4.67M worth of AMRK shares, resulting in $4.67M of net selling activity.

3 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

0

0.00

Sold

175.7K

4.55M

Net Activity

-4.6M

-$4.55M

9-12 Months

Bought

119

2.45K

Sold

5.3K

118.60K

Net Activity

-116K

-$116K

Top Buyers

1
LB

Lepine Beverley

Director

119 sharesโ€ข1 transactions

$2K

Top Sellers

1
RGN

Roberts Gregory N

Director, 10 Percent Owner, Officer: Chief Executive Officer

145.9K sharesโ€ข9 transactions

$3.76M

2
RJM

Ravich Jess M

Director

25.0K sharesโ€ข1 transactions

$663K

3
GT

Gjerdrum Thor

Officer: President

5.3K sharesโ€ข1 transactions

$119K

4
JM

John Moorhead

Director

2.6K sharesโ€ข1 transactions

$70K

5
MC

Meltzer Carol

Director, Officer: Evp, Gen. Counsel & Secretary

2.3K sharesโ€ข2 transactions

$58K

Insider Activity Analysis

Net Insider Sentiment

Bearish

Strong bearish signal with $4.67M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.

Buy/Sell Ratio

0.00:1

Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.

Insider Participation

High Selling

5 insider sellers vs. 1 buyers. Widespread selling across multiple insiders may signal concerns.

0.78%
Dividend Yield
2%
3Y-77.0%
5Y-82.0%
10Y+196.0%
ย 

amrk Dividend History

AMRK
10Y CAGR +23%
Latest $0.2
Annual $0.8
5 year growth trend
Last Period: +0%