Investment Advice stocks: intrinsic value, ROIC & growth
44 U.S. investment advice companies with at least three years of SEC filings, ranked by size. 17 of the 30 with a current price trade below their Graham intrinsic value. The median company earned a 16.5% average return on invested capital and grew revenue 11.4% a year.
Updated October 18, 2026
44companies
17below Graham value
16.5%median 10-yr ROIC
11.4%median revenue CAGR
Most undervalued investment advice stocks
| Ticker | Company | Upside | Price | Graham value | Price vs value | Market cap | ROIC (10y) | Revenue CAGR |
|---|---|---|---|---|---|---|---|---|
| APAM | Artisan Partners Asset Management Inc. | +104% | $32.29 | $66.04 | 51% below | $2.1B | 107.4% | 5.8% |
| FHI | FEDERATED HERMES, INC. | +94% | $55.93 | $108.43 | 48% below | $4.2B | 30.2% | 5.2% |
| TROW | T. Rowe Price | +88% | $100.97 | $190.05 | 47% below | $22.2B | 23.5% | 6.1% |
| CG | Carlyle Group Inc. | +83% | $36.38 | $66.65 | 45% below | $13.5B | 25.3% | 8.6% |
| HLI | HOULIHAN LOKEY, INC. | +60% | $129.55 | $206.60 | 37% below | $8.9B | 30.1% | 13.0% |
| AMP | Ameriprise Financial | +53% | $500.80 | $766.86 | 35% below | $49.2B | 50.5% | 5.4% |
| AMG | AFFILIATED MANAGERS GROUP, INC. | +25% | $383.76 | $480.66 | 20% below | $12.7B | 12.1% | -0.6% |
| VCTR | Victory Capital Holdings, Inc. | +25% | $108.60 | $135.52 | 20% below | $7.2B | 12.8% | 17.9% |
| BX | Blackstone Inc. | +21% | $106.61 | $128.54 | 17% below | $83.2B | 16.4% | 12.2% |
| MORN | Morningstar, Inc. | +6% | $207.37 | $220.24 | 6% below | $8.8B | 17.9% | 13.2% |
Highest-ROIC investment advice stocks
| Ticker | Company | 10-yr ROIC | Price | Graham value | Price vs value | Market cap | ROIC (10y) | Revenue CAGR |
|---|---|---|---|---|---|---|---|---|
| APAM | Artisan Partners Asset Management Inc. | 107.4% | $32.29 | $66.04 | 51% below | $2.1B | 107.4% | 5.8% |
| CNS | COHEN & STEERS, INC. | 61.4% | $69.63 | $44.79 | 55% above | $3.6B | 61.4% | 5.2% |
| AAMI | Acadian Asset Management Inc. | 50.7% | $92.16 | $73.41 | 26% above | $3.3B | 50.7% | -5.1% |
| AMP | Ameriprise Financial | 50.5% | $500.80 | $766.86 | 35% below | $49.2B | 50.5% | 5.4% |
| PJT | PJT Partners Inc. | 49.6% | $137.21 | — | — | — | 49.6% | 14.6% |
| LAZ | Lazard, Inc. | 30.9% | $36.09 | $3.78 | 855% above | $3.8B | 30.9% | 3.3% |
| FHI | FEDERATED HERMES, INC. | 30.2% | $55.93 | $108.43 | 48% below | $4.2B | 30.2% | 5.2% |
| HLI | HOULIHAN LOKEY, INC. | 30.1% | $129.55 | $206.60 | 37% below | $8.9B | 30.1% | 13.0% |
| HLNE | Hamilton Lane INC | 27.1% | $81.84 | $132.20 | 38% below | $5.1B | 27.1% | 17.4% |
| CG | Carlyle Group Inc. | 25.3% | $36.38 | $66.65 | 45% below | $13.5B | 25.3% | 8.6% |
All investment advice stocks
| Ticker | Company | Price | Graham value | Price vs value | Market cap | ROIC (10y) | Revenue CAGR |
|---|---|---|---|---|---|---|---|
| BX | Blackstone Inc. | $106.61 | $128.54 | 17% below | $83.2B | 16.4% | 12.2% |
| APO | Apollo Global Management | $110.78 | $184.01 | 40% below | $65.8B | 64.7% | 68.6% |
| AMP | Ameriprise Financial | $500.80 | $766.86 | 35% below | $49.2B | 50.5% | 5.4% |
| KKR | KKR & Co. | $86.21 | — | — | — | 7.6% | 37.5% |
| TROW | T. Rowe Price | $100.97 | $190.05 | 47% below | $22.2B | 23.5% | 6.1% |
| BEN | Franklin Resources | $30.98 | — | — | $16.0B | 17.4% | 3.2% |
| TPG | TPG Inc. | $42.52 | $14.95 | 184% above | $15.9B | 2.8% | 22.4% |
| CG | Carlyle Group Inc. | $36.38 | $66.65 | 45% below | $13.5B | 25.3% | 8.6% |
| IVZ | Invesco | $28.20 | $15.49 | 82% above | $12.8B | 5.4% | 3.4% |
| AMG | AFFILIATED MANAGERS GROUP, INC. | $383.76 | $480.66 | 20% below | $12.7B | 12.1% | -0.6% |
| ARES | Ares Management | $112.27 | — | — | — | 21.0% | 18.7% |
| EVR | Evercore Inc. | $254.08 | $466.68 | 46% below | $10.7B | -84.3% | 11.5% |
| HLI | HOULIHAN LOKEY, INC. | $129.55 | $206.60 | 37% below | $8.9B | 30.1% | 13.0% |
| MORN | Morningstar, Inc. | $207.37 | $220.24 | 6% below | $8.8B | 17.9% | 13.2% |
| BAM | Brookfield Asset Management Ltd. | $45.32 | — | — | — | 26.7% | 12.0% |
| VCTR | Victory Capital Holdings, Inc. | $108.60 | $135.52 | 20% below | $7.2B | 12.8% | 17.9% |
| JHG | JANUS HENDERSON GROUP PLC | — | $161.08 | — | — | 11.2% | 13.2% |
| OWL | BLUE OWL CAPITAL INC. | $8.85 | $3.32 | 167% above | $5.9B | -6.7% | 57.1% |
| HLNE | Hamilton Lane INC | $81.84 | $132.20 | 38% below | $5.1B | 27.1% | 17.4% |
| FHI | FEDERATED HERMES, INC. | $55.93 | $108.43 | 48% below | $4.2B | 30.2% | 5.2% |
| LAZ | Lazard, Inc. | $36.09 | $3.78 | 855% above | $3.8B | 30.9% | 3.3% |
| CNS | COHEN & STEERS, INC. | $69.63 | $44.79 | 55% above | $3.6B | 61.4% | 5.2% |
| PJT | PJT Partners Inc. | $137.21 | — | — | — | 49.6% | 14.6% |
| AAMI | Acadian Asset Management Inc. | $92.16 | $73.41 | 26% above | $3.3B | 50.7% | -5.1% |
| STEP | StepStone Group Inc. | $41.64 | $30.23 | 38% above | $3.3B | -45.3% | 34.0% |
| GCMG | GCM Grosvenor Inc. | $12.56 | $10.81 | 16% above | $2.5B | 14.3% | 5.7% |
| APAM | Artisan Partners Asset Management Inc. | $32.29 | $66.04 | 51% below | $2.1B | 107.4% | 5.8% |
| RILYN | BRC Group Holdings, Inc. | — | $325.51 | — | — | 10.7% | 17.1% |
| RPC | Ridgepost Capital, Inc. | $8.27 | $5.65 | 46% above | $976.3M | 5.2% | 37.0% |
| VRTS | VIRTUS INVESTMENT PARTNERS, INC. | $122.93 | $624.72 | 80% below | $851.8M | 14.5% | 11.4% |
| DBRG | DigitalBridge Group, Inc. | — | $15.28 | — | — | -4.0% | -0.7% |
| HKHC | Horizon Kinetics Holding Corp | $20.50 | $5.12 | 300% above | $382.0M | -3.5% | 8.4% |
| ALTI | AlTi Global, Inc. | $2.58 | $2.15 | 20% above | $257.7M | 17.9% | 35.5% |
| WHG | WESTWOOD HOLDINGS GROUP INC | $18.63 | — | — | $165.5M | 5.8% | -2.5% |
| RILY | BRC Group Holdings, Inc. | $4.61 | $325.51 | 99% below | $140.9M | 10.7% | 17.1% |
| SAMG | Silvercrest Asset Management Group Inc. | $10.62 | $3.02 | 252% above | $93.4M | 154.9% | 5.1% |
| HNNA | HENNESSY ADVISORS INC | $10.25 | — | — | $80.2M | 16.5% | -4.0% |
| ENDI | ENDI Corp. | $14.52 | $15.28 | 5% below | $79.4M | 89.7% | 49.5% |
| HNNAZ | HENNESSY ADVISORS INC | — | — | — | — | 21.4% | -4.0% |
| VALU | VALUE LINE INC | $43.06 | — | — | — | 9.5% | 0.2% |
| GROW | U S GLOBAL INVESTORS INC | $2.72 | $2.99 | 9% below | $36.3M | -1.7% | 43.9% |
| MLCI | Mount Logan Capital Inc. | $3.28 | — | — | $28.2M | -36.2% | 7.6% |
| MC | Moelis & Co | $54.55 | — | — | — | 40.5% | -40.7% |
| IWSH | Wright Investors Service Holdings, Inc. | $0.11 | $0.09 | 22% above | $2.3M | -25.5% | -5.2% |
Stock lists
Undervalued Stocks Below Graham Intrinsic Value
Highest ROIC Stocks (10-Year Average)
Highest Free Cash Flow Yield Stocks
Fastest-Growing Stocks by 10-Year Revenue