Annual Income Statements for Cohen & Steers
This table shows Cohen & Steers' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Cohen & Steers
This table shows Cohen & Steers' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
45 |
32 |
35 |
32 |
32 |
31 |
32 |
40 |
40 |
Consolidated Net Income / (Loss) |
|
40 |
37 |
36 |
33 |
25 |
45 |
30 |
55 |
43 |
Net Income / (Loss) Continuing Operations |
|
40 |
37 |
36 |
33 |
25 |
45 |
30 |
55 |
43 |
Total Pre-Tax Income |
|
55 |
50 |
47 |
43 |
36 |
56 |
41 |
68 |
53 |
Total Revenue |
|
134 |
131 |
126 |
121 |
114 |
136 |
120 |
152 |
138 |
Net Interest Income / (Expense) |
|
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
Total Interest Income |
|
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
Total Interest Expense |
|
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
Total Non-Interest Income |
|
134 |
131 |
126 |
121 |
114 |
136 |
120 |
152 |
138 |
Net Realized & Unrealized Capital Gains on Investments |
|
-5.92 |
5.82 |
-0.31 |
0.36 |
-10 |
13 |
-2.02 |
19 |
3.55 |
Other Non-Interest Income |
|
140 |
125 |
126 |
121 |
124 |
123 |
122 |
133 |
134 |
Total Non-Interest Expense |
|
83 |
79 |
81 |
80 |
83 |
80 |
83 |
88 |
89 |
Salaries and Employee Benefits |
|
52 |
49 |
49 |
49 |
53 |
46 |
53 |
56 |
55 |
Other Operating Expenses |
|
30 |
-54 |
31 |
30 |
29 |
-21 |
28 |
30 |
32 |
Depreciation Expense |
|
1.14 |
1.15 |
0.99 |
0.84 |
0.80 |
0.21 |
2.27 |
2.34 |
2.36 |
Nonoperating Income / (Expense), net |
|
3.95 |
-3.00 |
1.94 |
2.29 |
4.90 |
0.24 |
4.57 |
3.73 |
4.20 |
Income Tax Expense |
|
16 |
13 |
10 |
11 |
11 |
11 |
11 |
12 |
9.66 |
Net Income / (Loss) Attributable to Noncontrolling Interest |
|
-4.96 |
4.38 |
0.98 |
0.73 |
-6.97 |
13 |
-1.69 |
16 |
3.51 |
Basic Earnings per Share |
|
$0.91 |
$0.68 |
$0.72 |
$0.64 |
$0.65 |
$0.64 |
$0.63 |
$0.78 |
$0.78 |
Weighted Average Basic Shares Outstanding |
|
48.82M |
48.78M |
49.20M |
49.32M |
49.35M |
49.31M |
50.42M |
50.78M |
51.06M |
Diluted Earnings per Share |
|
$0.90 |
$0.66 |
$0.71 |
$0.64 |
$0.65 |
$0.63 |
$0.63 |
$0.77 |
$0.77 |
Weighted Average Diluted Shares Outstanding |
|
49.32M |
49.30M |
49.40M |
49.46M |
49.62M |
49.55M |
50.77M |
51.43M |
51.42M |
Weighted Average Basic & Diluted Shares Outstanding |
|
48.71M |
49.10M |
50.54M |
49.13M |
49.14M |
49.52M |
50.55M |
50.56M |
50.98M |
Cash Dividends to Common per Share |
|
$0.55 |
- |
$0.57 |
$0.57 |
$0.57 |
- |
$0.59 |
$0.59 |
$0.62 |
Annual Cash Flow Statements for Cohen & Steers
This table details how cash moves in and out of Cohen & Steers' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
19 |
43 |
9.54 |
-99 |
7.26 |
-61 |
145 |
68 |
-62 |
-4.86 |
Net Cash From Operating Activities |
|
90 |
115 |
64 |
73 |
141 |
89 |
243 |
62 |
172 |
97 |
Net Cash From Continuing Operating Activities |
|
90 |
115 |
64 |
73 |
141 |
89 |
243 |
62 |
172 |
97 |
Net Income / (Loss) Continuing Operations |
|
64 |
93 |
92 |
110 |
147 |
75 |
226 |
149 |
137 |
163 |
Consolidated Net Income / (Loss) |
|
64 |
93 |
92 |
110 |
147 |
75 |
226 |
149 |
137 |
163 |
Depreciation Expense |
|
6.21 |
4.25 |
4.32 |
4.47 |
4.98 |
6.15 |
5.72 |
5.67 |
5.14 |
11 |
Amortization Expense |
|
- |
3.36 |
10 |
11 |
10 |
10 |
10 |
12 |
13 |
4.65 |
Non-Cash Adjustments to Reconcile Net Income |
|
46 |
18 |
12 |
28 |
6.24 |
21 |
24 |
75 |
40 |
37 |
Changes in Operating Assets and Liabilities, net |
|
-26 |
-3.22 |
-55 |
-80 |
-27 |
-23 |
-23 |
-180 |
-22 |
-119 |
Net Cash From Investing Activities |
|
0.40 |
2.90 |
5.71 |
-53 |
36 |
-1.77 |
48 |
-2.86 |
-115 |
-120 |
Net Cash From Continuing Investing Activities |
|
0.40 |
2.90 |
5.71 |
-53 |
36 |
-1.77 |
48 |
-2.86 |
-115 |
-120 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-2.43 |
-10 |
-3.24 |
-3.47 |
-2.75 |
-2.50 |
-2.70 |
-4.22 |
-57 |
-12 |
Purchase of Investment Securities |
|
-5.66 |
-8.10 |
-17 |
-64 |
-51 |
-71 |
-54 |
-145 |
-169 |
-417 |
Sale and/or Maturity of Investments |
|
8.49 |
21 |
26 |
14 |
90 |
72 |
104 |
147 |
112 |
309 |
Net Cash From Financing Activities |
|
-71 |
-75 |
-60 |
-118 |
-170 |
-149 |
-145 |
8.98 |
-119 |
18 |
Net Cash From Continuing Financing Activities |
|
-71 |
-75 |
-60 |
-118 |
-170 |
-149 |
-145 |
8.98 |
-119 |
18 |
Issuance of Common Equity |
|
0.54 |
0.64 |
0.64 |
0.60 |
0.74 |
0.86 |
1.00 |
1.04 |
1.06 |
70 |
Repurchase of Common Equity |
|
-19 |
-8.04 |
-9.14 |
-11 |
-10 |
-26 |
-23 |
-27 |
-22 |
-21 |
Payment of Dividends |
|
-68 |
-71 |
-98 |
-179 |
-163 |
-122 |
-148 |
-107 |
-112 |
-119 |
Other Financing Activities, Net |
|
16 |
3.68 |
46 |
71 |
2.24 |
-1.33 |
24 |
142 |
14 |
89 |
Quarterly Cash Flow Statements for Cohen & Steers
This table details how cash moves in and out of Cohen & Steers' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Change in Cash & Equivalents |
|
41 |
80 |
-96 |
27 |
-44 |
52 |
-9.89 |
71 |
-117 |
Net Cash From Operating Activities |
|
52 |
58 |
-15 |
54 |
75 |
59 |
26 |
35 |
-109 |
Net Cash From Continuing Operating Activities |
|
52 |
58 |
-15 |
54 |
75 |
59 |
26 |
35 |
-109 |
Net Income / (Loss) Continuing Operations |
|
40 |
37 |
36 |
33 |
25 |
43 |
55 |
43 |
43 |
Consolidated Net Income / (Loss) |
|
40 |
37 |
36 |
33 |
25 |
43 |
55 |
43 |
43 |
Depreciation Expense |
|
1.43 |
1.52 |
1.26 |
1.08 |
1.03 |
1.77 |
2.74 |
2.87 |
2.83 |
Amortization Expense |
|
2.71 |
3.54 |
3.95 |
4.03 |
-8.97 |
14 |
-0.27 |
1.42 |
1.82 |
Non-Cash Adjustments to Reconcile Net Income |
|
6.23 |
15 |
13 |
7.68 |
27 |
-7.88 |
-9.81 |
17 |
14 |
Changes in Operating Assets and Liabilities, net |
|
2.43 |
0.91 |
-70 |
8.39 |
30 |
8.52 |
-22 |
-29 |
-171 |
Net Cash From Investing Activities |
|
-1.31 |
42 |
-35 |
3.79 |
-97 |
13 |
-39 |
23 |
2.00 |
Net Cash From Continuing Investing Activities |
|
-1.31 |
42 |
-35 |
3.79 |
-97 |
13 |
-39 |
23 |
2.00 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-1.39 |
-1.28 |
-4.59 |
-16 |
-26 |
-11 |
-1.41 |
-1.68 |
-1.08 |
Purchase of Investment Securities |
|
-59 |
-13 |
-39 |
-6.68 |
-87 |
-37 |
-105 |
-80 |
-76 |
Sale and/or Maturity of Investments |
|
59 |
56 |
8.12 |
26 |
16 |
61 |
67 |
104 |
79 |
Net Cash From Financing Activities |
|
-9.97 |
-20 |
-47 |
-31 |
-22 |
-20 |
3.56 |
13 |
-11 |
Net Cash From Continuing Financing Activities |
|
-9.97 |
-20 |
-47 |
-31 |
-22 |
-20 |
3.56 |
13 |
-11 |
Issuance of Common Equity |
|
0.20 |
0.16 |
0.39 |
0.29 |
0.23 |
0.16 |
0.26 |
0.19 |
0.33 |
Repayment of Debt |
|
- |
- |
-0.60 |
- |
- |
- |
- |
- |
-0.02 |
Repurchase of Common Equity |
|
-0.11 |
-0.94 |
-20 |
-0.19 |
-0.05 |
-0.86 |
-0.07 |
-1.54 |
-26 |
Payment of Dividends |
|
-27 |
-27 |
-28 |
-28 |
-28 |
-28 |
-30 |
-30 |
-32 |
Other Financing Activities, Net |
|
17 |
7.48 |
2.24 |
-2.58 |
5.92 |
8.29 |
33 |
44 |
47 |
Effect of Exchange Rate Changes |
|
- |
- |
- |
- |
- |
- |
- |
- |
0.47 |
Annual Balance Sheets for Cohen & Steers
This table presents Cohen & Steers' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
305 |
334 |
410 |
481 |
402 |
348 |
493 |
673 |
737 |
812 |
Cash and Due from Banks |
|
143 |
183 |
193 |
93 |
101 |
41 |
184 |
247 |
187 |
183 |
Trading Account Securities |
|
71 |
55 |
108 |
225 |
155 |
155 |
155 |
173 |
259 |
335 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Customer and Other Receivables |
|
- |
- |
- |
- |
61 |
75 |
88 |
69 |
74 |
76 |
Premises and Equipment, Net |
|
9.78 |
16 |
15 |
14 |
12 |
10 |
8.94 |
8.76 |
66 |
69 |
Intangible Assets |
|
19 |
19 |
20 |
20 |
20 |
20 |
20 |
19 |
19 |
19 |
Other Assets |
|
62 |
61 |
73 |
130 |
53 |
47 |
37 |
156 |
131 |
131 |
Total Liabilities & Shareholders' Equity |
|
305 |
334 |
410 |
481 |
402 |
348 |
493 |
673 |
737 |
812 |
Total Liabilities |
|
62 |
67 |
87 |
144 |
135 |
124 |
148 |
246 |
244 |
237 |
Short-Term Debt |
|
17 |
16 |
29 |
32 |
23 |
13 |
0.93 |
8.59 |
5.32 |
6.71 |
Other Short-Term Payables |
|
31 |
35 |
41 |
44 |
48 |
56 |
- |
78 |
66 |
71 |
Other Long-Term Liabilities |
|
14 |
16 |
16 |
68 |
65 |
54 |
147 |
160 |
172 |
160 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Redeemable Noncontrolling Interest |
|
11 |
0.85 |
48 |
114 |
53 |
51 |
89 |
85 |
106 |
53 |
Total Equity & Noncontrolling Interests |
|
232 |
266 |
276 |
223 |
214 |
174 |
255 |
342 |
386 |
521 |
Total Preferred & Common Equity |
|
232 |
266 |
276 |
223 |
214 |
174 |
255 |
338 |
381 |
512 |
Total Common Equity |
|
232 |
266 |
276 |
223 |
214 |
174 |
255 |
338 |
381 |
512 |
Common Stock |
|
520 |
544 |
571 |
603 |
637 |
671 |
716 |
770 |
819 |
944 |
Retained Earnings |
|
-148 |
-128 |
-138 |
-208 |
-242 |
-292 |
-232 |
-171 |
-158 |
-129 |
Treasury Stock |
|
-137 |
-145 |
-154 |
-164 |
-175 |
-201 |
-223 |
-250 |
-272 |
-293 |
Accumulated Other Comprehensive Income / (Loss) |
|
-3.84 |
-5.89 |
-3.67 |
-7.32 |
-6.33 |
-4.13 |
-5.89 |
-11 |
-7.71 |
-10 |
Noncontrolling Interest |
|
- |
- |
- |
- |
- |
- |
0.00 |
4.05 |
4.96 |
9.73 |
Quarterly Balance Sheets for Cohen & Steers
This table presents Cohen & Steers' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Total Assets |
|
506 |
681 |
625 |
674 |
784 |
728 |
835 |
Cash and Due from Banks |
|
162 |
100 |
178 |
133 |
122 |
106 |
65 |
Trading Account Securities |
|
202 |
273 |
188 |
257 |
371 |
321 |
473 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Customer and Other Receivables |
|
2.93 |
17 |
2.57 |
2.81 |
3.66 |
2.45 |
3.87 |
Premises and Equipment, Net |
|
8.62 |
68 |
36 |
52 |
70 |
70 |
68 |
Intangible Assets |
|
18 |
19 |
19 |
19 |
19 |
20 |
19 |
Other Assets |
|
113 |
204 |
200 |
210 |
198 |
209 |
206 |
Total Liabilities & Shareholders' Equity |
|
506 |
681 |
625 |
674 |
784 |
728 |
835 |
Total Liabilities |
|
113 |
206 |
181 |
218 |
200 |
215 |
194 |
Short-Term Debt |
|
12 |
29 |
1.26 |
2.71 |
1.24 |
2.82 |
11 |
Other Short-Term Payables |
|
62 |
17 |
- |
- |
33 |
49 |
20 |
Other Long-Term Liabilities |
|
39 |
160 |
180 |
215 |
165 |
164 |
162 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Redeemable Noncontrolling Interest |
|
78 |
91 |
86 |
84 |
115 |
14 |
122 |
Total Equity & Noncontrolling Interests |
|
316 |
384 |
358 |
372 |
470 |
498 |
520 |
Total Preferred & Common Equity |
|
316 |
379 |
353 |
367 |
463 |
491 |
508 |
Total Common Equity |
|
316 |
379 |
353 |
367 |
463 |
491 |
508 |
Common Stock |
|
756 |
833 |
795 |
807 |
917 |
932 |
956 |
Retained Earnings |
|
-176 |
-154 |
-162 |
-159 |
-153 |
-144 |
-122 |
Treasury Stock |
|
-249 |
-291 |
-271 |
-271 |
-291 |
-291 |
-319 |
Accumulated Other Comprehensive Income / (Loss) |
|
-15 |
-8.69 |
-8.54 |
-10 |
-8.87 |
-5.41 |
-7.92 |
Noncontrolling Interest |
|
- |
4.98 |
5.24 |
5.58 |
6.66 |
7.05 |
12 |
Annual Metrics And Ratios for Cohen & Steers
This table displays calculated financial ratios and metrics derived from Cohen & Steers' official financial filings.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
3.17% |
9.35% |
6.80% |
-3.64% |
17.90% |
-2.10% |
42.32% |
-10.09% |
-8.84% |
8.11% |
EBITDA Growth |
|
0.52% |
12.97% |
15.76% |
-13.72% |
33.07% |
-45.53% |
175.33% |
-29.48% |
-10.44% |
10.10% |
EBIT Growth |
|
0.74% |
12.49% |
11.57% |
-15.30% |
36.93% |
-49.98% |
206.96% |
-31.64% |
-11.56% |
12.26% |
NOPAT Growth |
|
-7.38% |
27.58% |
-0.60% |
11.89% |
40.88% |
-48.63% |
205.91% |
-35.30% |
-11.72% |
15.08% |
Net Income Growth |
|
-15.05% |
44.26% |
-0.35% |
18.42% |
34.21% |
-48.86% |
200.88% |
-33.90% |
-8.61% |
19.17% |
EPS Growth |
|
-14.55% |
41.84% |
-2.00% |
22.45% |
16.25% |
-43.73% |
174.52% |
-19.49% |
-25.07% |
14.23% |
Operating Cash Flow Growth |
|
64.52% |
28.02% |
-44.11% |
12.99% |
94.83% |
-36.95% |
172.35% |
-74.61% |
178.80% |
-43.77% |
Free Cash Flow Firm Growth |
|
-26.27% |
36.28% |
-70.75% |
320.67% |
161.83% |
-43.77% |
-6.45% |
-53.22% |
19.90% |
-2.95% |
Invested Capital Growth |
|
8.64% |
8.46% |
24.87% |
4.64% |
-21.52% |
-17.81% |
45.02% |
26.15% |
14.34% |
16.80% |
Revenue Q/Q Growth |
|
-2.16% |
4.67% |
1.54% |
-4.28% |
7.15% |
2.57% |
7.63% |
-6.12% |
0.47% |
0.00% |
EBITDA Q/Q Growth |
|
-6.50% |
9.24% |
9.72% |
-13.35% |
14.59% |
-31.46% |
56.82% |
-13.93% |
5.55% |
0.00% |
EBIT Q/Q Growth |
|
-6.73% |
9.36% |
1.55% |
-11.61% |
15.99% |
-37.43% |
49.13% |
-15.42% |
-0.25% |
0.00% |
NOPAT Q/Q Growth |
|
-8.27% |
17.34% |
-7.73% |
0.16% |
15.53% |
-34.41% |
44.38% |
-17.45% |
1.29% |
0.00% |
Net Income Q/Q Growth |
|
-4.23% |
17.55% |
-5.50% |
4.28% |
9.43% |
-33.01% |
43.91% |
-18.11% |
4.40% |
0.00% |
EPS Q/Q Growth |
|
-4.08% |
17.65% |
-6.22% |
3.90% |
8.98% |
-35.39% |
48.62% |
-15.78% |
-2.26% |
0.00% |
Operating Cash Flow Q/Q Growth |
|
-13.67% |
39.85% |
-0.91% |
-21.88% |
32.13% |
-42.41% |
40.43% |
-18.39% |
0.32% |
-19.72% |
Free Cash Flow Firm Q/Q Growth |
|
-54.10% |
71.36% |
118.30% |
115.52% |
10.21% |
-26.15% |
10.44% |
-56.20% |
-9.55% |
0.00% |
Invested Capital Q/Q Growth |
|
3.08% |
-2.57% |
-6.85% |
-16.17% |
-20.05% |
-21.92% |
-2.55% |
7.51% |
8.49% |
0.00% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
40.22% |
41.55% |
45.03% |
40.32% |
45.51% |
25.32% |
48.98% |
38.42% |
37.75% |
38.44% |
EBIT Margin |
|
38.31% |
39.41% |
41.18% |
36.19% |
42.04% |
21.48% |
46.32% |
35.22% |
34.17% |
35.48% |
Profit (Net Income) Margin |
|
19.73% |
26.03% |
24.29% |
29.86% |
33.98% |
17.75% |
37.53% |
27.59% |
27.66% |
30.49% |
Tax Burden Percent |
|
57.06% |
64.72% |
57.66% |
76.17% |
78.37% |
80.49% |
80.21% |
75.92% |
75.79% |
77.69% |
Interest Burden Percent |
|
90.27% |
102.06% |
102.32% |
108.29% |
103.16% |
102.69% |
101.00% |
103.18% |
106.80% |
110.60% |
Effective Tax Rate |
|
42.94% |
35.28% |
42.34% |
23.83% |
21.63% |
19.51% |
19.79% |
24.08% |
24.21% |
22.31% |
Return on Invested Capital (ROIC) |
|
28.50% |
33.50% |
28.46% |
28.02% |
43.26% |
27.74% |
76.77% |
37.11% |
27.40% |
27.27% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
-20.21% |
44.81% |
37.72% |
55.20% |
59.67% |
38.76% |
108.49% |
133.93% |
152.61% |
286.69% |
Return on Net Nonoperating Assets (RNNOA) |
|
-1.22% |
2.92% |
2.89% |
5.16% |
5.42% |
2.81% |
2.69% |
1.65% |
2.31% |
3.23% |
Return on Equity (ROE) |
|
27.28% |
36.41% |
31.35% |
33.18% |
48.67% |
30.55% |
79.46% |
38.76% |
29.71% |
30.50% |
Cash Return on Invested Capital (CROIC) |
|
20.21% |
25.38% |
6.34% |
23.48% |
67.37% |
47.29% |
40.03% |
13.99% |
14.03% |
11.77% |
Operating Return on Assets (OROA) |
|
42.63% |
43.97% |
42.15% |
29.80% |
41.16% |
24.22% |
66.38% |
32.73% |
23.94% |
24.46% |
Return on Assets (ROA) |
|
21.96% |
29.05% |
24.87% |
24.58% |
33.27% |
20.02% |
53.77% |
25.64% |
19.38% |
21.02% |
Return on Common Equity (ROCE) |
|
26.59% |
35.54% |
28.77% |
25.04% |
35.17% |
24.09% |
59.94% |
29.79% |
23.22% |
25.51% |
Return on Equity Simple (ROE_SIMPLE) |
|
27.76% |
34.92% |
33.57% |
49.19% |
68.78% |
43.14% |
88.62% |
44.29% |
35.83% |
31.81% |
Net Operating Profit after Tax (NOPAT) |
|
71 |
91 |
90 |
101 |
142 |
73 |
224 |
145 |
128 |
147 |
NOPAT Margin |
|
21.86% |
25.51% |
23.74% |
27.57% |
32.94% |
17.29% |
37.16% |
26.74% |
25.90% |
27.56% |
Net Nonoperating Expense Percent (NNEP) |
|
48.71% |
-11.31% |
-9.26% |
-27.18% |
-16.41% |
-11.02% |
-31.72% |
-96.82% |
-125.21% |
-259.42% |
SG&A Expenses to Revenue |
|
33.04% |
32.43% |
32.59% |
35.79% |
33.16% |
36.95% |
32.43% |
38.54% |
40.53% |
40.82% |
Operating Expenses to Revenue |
|
61.69% |
60.59% |
58.82% |
63.81% |
57.96% |
78.52% |
53.68% |
64.78% |
65.83% |
64.52% |
Earnings before Interest and Taxes (EBIT) |
|
125 |
141 |
157 |
133 |
182 |
91 |
279 |
191 |
169 |
189 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
131 |
148 |
171 |
148 |
197 |
107 |
295 |
208 |
186 |
205 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
3.89 |
3.94 |
5.67 |
5.69 |
11.61 |
17.78 |
15.81 |
8.71 |
9.48 |
9.12 |
Price to Tangible Book Value (P/TBV) |
|
4.25 |
4.24 |
6.13 |
6.24 |
12.78 |
20.15 |
17.14 |
9.23 |
9.99 |
9.47 |
Price to Revenue (P/Rev) |
|
2.76 |
2.94 |
4.11 |
3.45 |
5.74 |
7.32 |
6.70 |
5.43 |
7.32 |
8.74 |
Price to Earnings (P/E) |
|
13.96 |
11.26 |
17.01 |
11.12 |
18.43 |
40.45 |
19.09 |
17.19 |
28.01 |
30.86 |
Dividend Yield |
|
6.30% |
5.61% |
3.32% |
4.87% |
2.74% |
2.41% |
2.15% |
4.55% |
3.10% |
2.56% |
Earnings Yield |
|
7.16% |
8.88% |
5.88% |
8.99% |
5.43% |
2.47% |
5.24% |
5.82% |
3.57% |
3.24% |
Enterprise Value to Invested Capital (EV/IC) |
|
3.02 |
3.12 |
4.10 |
3.58 |
8.48 |
13.11 |
11.42 |
6.41 |
7.12 |
7.83 |
Enterprise Value to Revenue (EV/Rev) |
|
2.41 |
2.47 |
3.80 |
3.60 |
5.68 |
7.37 |
6.54 |
5.15 |
7.18 |
8.53 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
6.00 |
5.94 |
8.44 |
8.92 |
12.48 |
29.11 |
13.35 |
13.41 |
19.01 |
22.19 |
Enterprise Value to EBIT (EV/EBIT) |
|
6.30 |
6.26 |
9.23 |
9.94 |
13.51 |
34.31 |
14.12 |
14.63 |
21.00 |
24.04 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
11.04 |
9.68 |
16.01 |
13.05 |
17.24 |
42.63 |
17.60 |
19.27 |
27.71 |
30.95 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
8.77 |
7.65 |
22.52 |
18.18 |
17.36 |
34.99 |
16.23 |
45.25 |
20.61 |
47.11 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
15.57 |
12.77 |
71.83 |
15.58 |
11.07 |
25.01 |
33.76 |
51.12 |
54.13 |
71.70 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.07 |
0.06 |
0.09 |
0.10 |
0.08 |
0.06 |
0.00 |
0.02 |
0.01 |
0.01 |
Long-Term Debt to Equity |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Financial Leverage |
|
0.06 |
0.07 |
0.08 |
0.09 |
0.09 |
0.07 |
0.02 |
0.01 |
0.02 |
0.01 |
Leverage Ratio |
|
1.24 |
1.25 |
1.26 |
1.35 |
1.46 |
1.53 |
1.48 |
1.51 |
1.53 |
1.45 |
Compound Leverage Factor |
|
1.12 |
1.28 |
1.29 |
1.46 |
1.51 |
1.57 |
1.49 |
1.56 |
1.64 |
1.60 |
Debt to Total Capital |
|
6.66% |
5.60% |
8.34% |
8.74% |
7.79% |
5.53% |
0.27% |
1.97% |
1.07% |
1.15% |
Short-Term Debt to Total Capital |
|
6.66% |
5.60% |
8.34% |
8.74% |
7.79% |
5.53% |
0.27% |
1.97% |
1.07% |
1.15% |
Long-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
4.35% |
0.30% |
13.55% |
30.94% |
18.44% |
21.28% |
25.82% |
20.52% |
22.38% |
10.86% |
Common Equity to Total Capital |
|
88.99% |
94.10% |
78.11% |
60.32% |
73.77% |
73.19% |
73.91% |
77.50% |
76.56% |
87.98% |
Debt to EBITDA |
|
0.13 |
0.11 |
0.17 |
0.22 |
0.11 |
0.12 |
0.00 |
0.04 |
0.03 |
0.03 |
Net Debt to EBITDA |
|
-0.96 |
-1.13 |
-0.96 |
-0.41 |
-0.40 |
-0.26 |
-0.62 |
-1.15 |
-0.98 |
-0.86 |
Long-Term Debt to EBITDA |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Debt to NOPAT |
|
0.24 |
0.17 |
0.33 |
0.32 |
0.16 |
0.18 |
0.00 |
0.06 |
0.04 |
0.05 |
Net Debt to NOPAT |
|
-1.76 |
-1.84 |
-1.81 |
-0.60 |
-0.55 |
-0.38 |
-0.82 |
-1.65 |
-1.42 |
-1.20 |
Long-Term Debt to NOPAT |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Noncontrolling Interest Sharing Ratio |
|
2.53% |
2.39% |
8.25% |
24.54% |
27.75% |
21.15% |
24.56% |
23.15% |
21.84% |
16.36% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
51 |
69 |
20 |
85 |
222 |
125 |
117 |
55 |
65 |
64 |
Operating Cash Flow to CapEx |
|
3,699.88% |
1,128.92% |
1,981.89% |
2,092.16% |
5,139.72% |
3,564.59% |
9,013.02% |
1,460.57% |
301.76% |
829.88% |
Free Cash Flow to Firm to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
1.11 |
1.12 |
1.02 |
0.82 |
0.98 |
1.13 |
1.43 |
0.93 |
0.70 |
0.69 |
Fixed Asset Turnover |
|
31.09 |
27.69 |
24.56 |
25.17 |
32.53 |
37.10 |
62.52 |
61.24 |
13.16 |
7.91 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
260 |
282 |
353 |
369 |
290 |
238 |
345 |
436 |
498 |
582 |
Invested Capital Turnover |
|
1.30 |
1.31 |
1.20 |
1.02 |
1.31 |
1.60 |
2.07 |
1.39 |
1.06 |
0.99 |
Increase / (Decrease) in Invested Capital |
|
21 |
22 |
70 |
16 |
-79 |
-52 |
107 |
90 |
62 |
84 |
Enterprise Value (EV) |
|
787 |
880 |
1,447 |
1,320 |
2,456 |
3,121 |
3,941 |
2,791 |
3,544 |
4,555 |
Market Capitalization |
|
901 |
1,047 |
1,564 |
1,266 |
2,481 |
3,098 |
4,036 |
2,941 |
3,615 |
4,669 |
Book Value per Share |
|
$5.10 |
$5.79 |
$5.95 |
$4.76 |
$4.52 |
$3.65 |
$5.29 |
$6.93 |
$7.76 |
$10.12 |
Tangible Book Value per Share |
|
$4.67 |
$5.38 |
$5.51 |
$4.34 |
$4.11 |
$3.22 |
$4.88 |
$6.54 |
$7.36 |
$9.75 |
Total Capital |
|
260 |
282 |
353 |
369 |
290 |
238 |
345 |
436 |
498 |
582 |
Total Debt |
|
17 |
16 |
29 |
32 |
23 |
13 |
0.93 |
8.59 |
5.32 |
6.71 |
Total Long-Term Debt |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Debt |
|
-125 |
-167 |
-164 |
-60 |
-79 |
-28 |
-183 |
-239 |
-182 |
-176 |
Capital Expenditures (CapEx) |
|
2.43 |
10 |
3.24 |
3.47 |
2.75 |
2.50 |
2.70 |
4.22 |
57 |
12 |
Net Nonoperating Expense (NNE) |
|
6.94 |
-1.88 |
-2.10 |
-8.38 |
-4.50 |
-1.97 |
-2.24 |
-4.60 |
-8.70 |
-16 |
Net Nonoperating Obligations (NNO) |
|
17 |
16 |
29 |
32 |
23 |
13 |
0.93 |
8.59 |
5.32 |
6.71 |
Total Depreciation and Amortization (D&A) |
|
6.21 |
7.61 |
15 |
15 |
15 |
16 |
16 |
17 |
18 |
16 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$1.42 |
$2.02 |
$1.98 |
$2.43 |
$2.85 |
$1.60 |
$4.38 |
$3.51 |
$2.62 |
$3.00 |
Adjusted Weighted Average Basic Shares Outstanding |
|
45.43M |
45.95M |
46.35M |
46.79M |
47.27M |
47.80M |
48.32M |
48.78M |
49.31M |
50.41M |
Adjusted Diluted Earnings per Share |
|
$1.41 |
$2.00 |
$1.96 |
$2.40 |
$2.79 |
$1.57 |
$4.31 |
$3.47 |
$2.60 |
$2.97 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
45.90M |
46.43M |
46.98M |
47.38M |
48.30M |
48.68M |
49.09M |
49.30M |
49.55M |
50.94M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
45.82M |
46.29M |
46.74M |
47.22M |
47.76M |
48.23M |
48.67M |
49.10M |
49.52M |
50.97M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
71 |
91 |
90 |
101 |
142 |
73 |
224 |
145 |
128 |
147 |
Normalized NOPAT Margin |
|
21.86% |
25.51% |
23.74% |
27.57% |
32.94% |
17.29% |
37.16% |
26.74% |
25.90% |
27.56% |
Pre Tax Income Margin |
|
34.58% |
40.23% |
42.13% |
39.19% |
43.36% |
22.06% |
46.79% |
36.34% |
36.49% |
39.24% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
EBIT Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
105.97% |
76.31% |
106.30% |
163.33% |
110.70% |
162.96% |
65.25% |
71.81% |
82.31% |
73.21% |
Augmented Payout Ratio |
|
135.86% |
84.97% |
116.18% |
173.00% |
117.78% |
197.47% |
75.24% |
89.75% |
98.08% |
86.18% |
Quarterly Metrics And Ratios for Cohen & Steers
This table displays calculated financial ratios and metrics derived from Cohen & Steers' official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
-12.84% |
-21.23% |
-20.27% |
1.79% |
-15.18% |
3.36% |
-1.06% |
33.86% |
11.58% |
EBITDA Growth |
|
-22.82% |
-36.89% |
-15.02% |
26.83% |
-58.71% |
22.80% |
-16.53% |
189.89% |
17.18% |
EBIT Growth |
|
-24.41% |
-39.81% |
-18.27% |
27.07% |
-39.89% |
5.54% |
-11.68% |
107.20% |
18.19% |
NOPAT Growth |
|
-26.66% |
-44.09% |
-23.64% |
30.72% |
-40.96% |
13.35% |
-13.23% |
140.51% |
27.19% |
Net Income Growth |
|
-22.91% |
-47.26% |
-22.51% |
24.31% |
-36.46% |
20.71% |
-7.47% |
119.65% |
25.79% |
EPS Growth |
|
-14.29% |
-49.62% |
-16.47% |
-39.62% |
-27.78% |
-4.55% |
-1.56% |
18.46% |
13.24% |
Operating Cash Flow Growth |
|
-35.24% |
-19.33% |
85.94% |
-6.93% |
42.45% |
0.94% |
0.00% |
-65.68% |
-2,340.35% |
Free Cash Flow Firm Growth |
|
-1,920.71% |
-37.46% |
121.52% |
147.58% |
-129.10% |
64.62% |
-256.88% |
87.17% |
-214.49% |
Invested Capital Growth |
|
14.35% |
26.15% |
-1.81% |
-8.57% |
13.30% |
14.34% |
31.56% |
12.28% |
0.00% |
Revenue Q/Q Growth |
|
12.77% |
-2.15% |
-4.10% |
-2.19% |
-6.04% |
19.25% |
0.00% |
27.13% |
0.00% |
EBITDA Q/Q Growth |
|
51.76% |
4.06% |
-13.62% |
1.62% |
-50.59% |
209.49% |
0.00% |
71.58% |
0.00% |
EBIT Q/Q Growth |
|
58.11% |
2.60% |
-15.21% |
-0.13% |
-25.20% |
80.13% |
0.00% |
75.48% |
0.00% |
NOPAT Q/Q Growth |
|
56.16% |
6.33% |
-11.06% |
-1.74% |
-29.47% |
104.12% |
0.00% |
95.50% |
0.00% |
Net Income Q/Q Growth |
|
51.49% |
-6.90% |
-1.58% |
-5.55% |
-22.57% |
76.89% |
0.00% |
83.80% |
0.00% |
EPS Q/Q Growth |
|
-15.09% |
-26.67% |
7.58% |
-5.88% |
1.56% |
-3.08% |
0.00% |
22.22% |
0.00% |
Operating Cash Flow Q/Q Growth |
|
-9.12% |
10.71% |
-125.79% |
1,003.87% |
39.10% |
-21.55% |
0.00% |
0.00% |
-412.83% |
Free Cash Flow Firm Q/Q Growth |
|
90.79% |
-264.36% |
186.13% |
78.54% |
-144.36% |
43.72% |
0.00% |
96.37% |
0.00% |
Invested Capital Q/Q Growth |
|
-16.80% |
7.51% |
15.67% |
-11.63% |
3.11% |
8.49% |
0.00% |
-12.00% |
0.00% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
41.34% |
43.96% |
39.60% |
38.27% |
20.12% |
52.23% |
32.29% |
43.58% |
38.69% |
EBIT Margin |
|
38.25% |
40.10% |
35.45% |
34.05% |
27.11% |
40.94% |
30.40% |
41.96% |
35.32% |
Profit (Net Income) Margin |
|
29.56% |
28.12% |
28.86% |
26.87% |
22.14% |
32.84% |
25.13% |
36.33% |
31.36% |
Tax Burden Percent |
|
71.76% |
74.36% |
78.01% |
74.74% |
70.48% |
79.86% |
73.43% |
81.81% |
81.75% |
Interest Burden Percent |
|
107.70% |
94.31% |
104.35% |
105.57% |
115.89% |
100.43% |
112.57% |
105.84% |
108.61% |
Effective Tax Rate |
|
28.24% |
25.64% |
21.99% |
25.26% |
29.52% |
20.14% |
26.57% |
18.19% |
18.25% |
Return on Invested Capital (ROIC) |
|
41.71% |
41.38% |
27.73% |
27.84% |
21.74% |
34.60% |
0.00% |
0.00% |
48.53% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
57.59% |
-5.44% |
30.70% |
54.71% |
68.80% |
37.35% |
0.00% |
0.00% |
110.23% |
Return on Net Nonoperating Assets (RNNOA) |
|
2.84% |
-0.07% |
3.42% |
0.76% |
1.19% |
0.56% |
0.00% |
0.00% |
1.91% |
Return on Equity (ROE) |
|
44.55% |
41.32% |
31.16% |
28.60% |
22.92% |
35.17% |
0.00% |
0.00% |
50.45% |
Cash Return on Invested Capital (CROIC) |
|
32.84% |
13.99% |
28.21% |
38.57% |
16.75% |
14.03% |
0.00% |
0.00% |
-152.28% |
Operating Return on Assets (OROA) |
|
45.28% |
37.26% |
28.60% |
28.88% |
22.58% |
28.69% |
0.00% |
0.00% |
23.20% |
Return on Assets (ROA) |
|
34.99% |
26.13% |
23.28% |
22.79% |
18.44% |
23.01% |
0.00% |
0.00% |
20.60% |
Return on Common Equity (ROCE) |
|
35.71% |
31.75% |
21.60% |
19.99% |
18.41% |
27.49% |
0.00% |
0.00% |
39.93% |
Return on Equity Simple (ROE_SIMPLE) |
|
57.83% |
0.00% |
36.67% |
40.61% |
35.69% |
0.00% |
0.00% |
0.00% |
33.81% |
Net Operating Profit after Tax (NOPAT) |
|
37 |
39 |
35 |
31 |
22 |
44 |
27 |
52 |
40 |
NOPAT Margin |
|
27.44% |
29.82% |
27.66% |
25.45% |
19.10% |
32.70% |
22.32% |
34.32% |
28.88% |
Net Nonoperating Expense Percent (NNEP) |
|
-15.87% |
46.83% |
-2.97% |
-26.86% |
-47.06% |
-2.75% |
-268.92% |
-110.40% |
-61.69% |
SG&A Expenses to Revenue |
|
38.55% |
37.03% |
38.85% |
40.41% |
46.47% |
34.27% |
44.36% |
37.05% |
39.53% |
Operating Expenses to Revenue |
|
61.75% |
59.90% |
64.55% |
65.95% |
72.89% |
59.06% |
69.60% |
58.04% |
64.68% |
Earnings before Interest and Taxes (EBIT) |
|
51 |
53 |
45 |
41 |
31 |
56 |
36 |
64 |
49 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
55 |
58 |
50 |
46 |
23 |
71 |
39 |
66 |
53 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
8.93 |
8.71 |
7.81 |
7.73 |
8.12 |
9.48 |
7.86 |
9.88 |
8.06 |
Price to Tangible Book Value (P/TBV) |
|
9.48 |
9.23 |
8.23 |
8.18 |
8.56 |
9.99 |
8.20 |
10.29 |
8.37 |
Price to Revenue (P/Rev) |
|
4.88 |
5.43 |
5.81 |
5.35 |
6.06 |
7.32 |
0.00 |
0.00 |
7.46 |
Price to Earnings (P/E) |
|
13.88 |
17.19 |
18.02 |
19.11 |
22.60 |
28.01 |
0.00 |
0.00 |
26.05 |
Dividend Yield |
|
3.63% |
4.55% |
4.59% |
5.02% |
4.64% |
3.10% |
3.22% |
2.44% |
2.98% |
Earnings Yield |
|
7.20% |
5.82% |
5.55% |
5.23% |
4.42% |
3.57% |
0.00% |
0.00% |
3.84% |
Enterprise Value to Invested Capital (EV/IC) |
|
6.78 |
6.41 |
5.93 |
5.94 |
6.40 |
7.12 |
6.22 |
9.25 |
6.39 |
Enterprise Value to Revenue (EV/Rev) |
|
4.76 |
5.15 |
5.86 |
5.18 |
5.97 |
7.18 |
0.00 |
0.00 |
7.60 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
11.35 |
13.41 |
14.98 |
12.84 |
16.62 |
19.01 |
0.00 |
0.00 |
19.57 |
Enterprise Value to EBIT (EV/EBIT) |
|
12.17 |
14.63 |
16.51 |
14.19 |
17.36 |
21.00 |
0.00 |
0.00 |
21.17 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
15.64 |
19.27 |
22.26 |
19.15 |
23.25 |
27.71 |
0.00 |
0.00 |
26.79 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
36.32 |
45.25 |
19.50 |
17.72 |
17.13 |
20.61 |
21.49 |
39.59 |
0.00 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
22.02 |
51.12 |
20.82 |
14.71 |
40.57 |
54.13 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.03 |
0.02 |
0.06 |
0.00 |
0.01 |
0.01 |
0.00 |
0.01 |
0.02 |
Long-Term Debt to Equity |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Financial Leverage |
|
0.05 |
0.01 |
0.11 |
0.01 |
0.02 |
0.02 |
0.00 |
0.01 |
0.02 |
Leverage Ratio |
|
1.35 |
1.51 |
1.38 |
1.31 |
1.39 |
1.53 |
1.37 |
1.45 |
1.30 |
Compound Leverage Factor |
|
1.45 |
1.43 |
1.44 |
1.38 |
1.61 |
1.54 |
1.54 |
1.53 |
1.41 |
Debt to Total Capital |
|
2.95% |
1.97% |
5.74% |
0.28% |
0.59% |
1.07% |
0.21% |
0.55% |
1.71% |
Short-Term Debt to Total Capital |
|
2.95% |
1.97% |
5.74% |
0.28% |
0.59% |
1.07% |
0.21% |
0.55% |
1.71% |
Long-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
19.14% |
20.52% |
19.03% |
20.39% |
19.54% |
22.38% |
20.70% |
4.18% |
20.49% |
Common Equity to Total Capital |
|
77.91% |
77.50% |
75.22% |
79.33% |
79.87% |
76.56% |
79.09% |
95.27% |
77.81% |
Debt to EBITDA |
|
0.05 |
0.04 |
0.15 |
0.01 |
0.02 |
0.03 |
0.00 |
0.00 |
0.05 |
Net Debt to EBITDA |
|
-0.62 |
-1.15 |
-0.35 |
-0.86 |
-0.74 |
-0.98 |
0.00 |
0.00 |
-0.25 |
Long-Term Debt to EBITDA |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Debt to NOPAT |
|
0.07 |
0.06 |
0.22 |
0.01 |
0.02 |
0.04 |
0.00 |
0.00 |
0.07 |
Net Debt to NOPAT |
|
-0.85 |
-1.65 |
-0.53 |
-1.28 |
-1.03 |
-1.42 |
0.00 |
0.00 |
-0.35 |
Long-Term Debt to NOPAT |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Noncontrolling Interest Sharing Ratio |
|
19.84% |
23.15% |
30.67% |
30.11% |
19.69% |
21.84% |
0.00% |
0.00% |
20.84% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-14 |
-51 |
44 |
73 |
-32 |
-18 |
-114 |
-4.13 |
-613 |
Operating Cash Flow to CapEx |
|
3,781.89% |
4,551.61% |
-326.34% |
345.33% |
287.10% |
540.03% |
0.00% |
1,819.96% |
-10,134.70% |
Free Cash Flow to Firm to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
1.18 |
0.93 |
0.81 |
0.85 |
0.83 |
0.70 |
0.00 |
0.00 |
0.66 |
Fixed Asset Turnover |
|
65.30 |
61.24 |
13.24 |
22.81 |
16.14 |
13.16 |
0.00 |
0.00 |
8.12 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
405 |
436 |
504 |
445 |
459 |
498 |
586 |
515 |
652 |
Invested Capital Turnover |
|
1.52 |
1.39 |
1.00 |
1.09 |
1.14 |
1.06 |
0.00 |
0.00 |
1.68 |
Increase / (Decrease) in Invested Capital |
|
51 |
90 |
-9.28 |
-42 |
54 |
62 |
140 |
56 |
652 |
Enterprise Value (EV) |
|
2,745 |
2,791 |
2,986 |
2,643 |
2,936 |
3,544 |
3,642 |
4,768 |
4,170 |
Market Capitalization |
|
2,818 |
2,941 |
2,961 |
2,730 |
2,977 |
3,615 |
3,641 |
4,850 |
4,090 |
Book Value per Share |
|
$6.48 |
$6.93 |
$7.72 |
$7.19 |
$7.46 |
$7.76 |
$9.16 |
$9.71 |
$9.96 |
Tangible Book Value per Share |
|
$6.11 |
$6.54 |
$7.33 |
$6.80 |
$7.08 |
$7.36 |
$8.79 |
$9.33 |
$9.58 |
Total Capital |
|
405 |
436 |
504 |
445 |
459 |
498 |
586 |
515 |
652 |
Total Debt |
|
12 |
8.59 |
29 |
1.26 |
2.71 |
5.32 |
1.24 |
2.82 |
11 |
Total Long-Term Debt |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Debt |
|
-150 |
-239 |
-71 |
-177 |
-130 |
-182 |
-121 |
-104 |
-54 |
Capital Expenditures (CapEx) |
|
1.39 |
1.28 |
4.59 |
16 |
26 |
11 |
0.00 |
1.41 |
1.08 |
Net Nonoperating Expense (NNE) |
|
-2.83 |
2.23 |
-1.51 |
-1.71 |
-3.45 |
-0.19 |
-3.36 |
-3.05 |
-3.43 |
Net Nonoperating Obligations (NNO) |
|
12 |
8.59 |
29 |
1.26 |
2.71 |
5.32 |
1.24 |
2.82 |
11 |
Total Depreciation and Amortization (D&A) |
|
4.15 |
5.07 |
5.21 |
5.11 |
-7.94 |
15 |
2.27 |
2.47 |
4.65 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.91 |
$0.68 |
$0.72 |
$0.64 |
$0.65 |
$0.64 |
$0.63 |
$0.78 |
$0.78 |
Adjusted Weighted Average Basic Shares Outstanding |
|
48.82M |
48.78M |
49.20M |
49.32M |
49.35M |
49.31M |
50.42M |
50.78M |
51.06M |
Adjusted Diluted Earnings per Share |
|
$0.90 |
$0.66 |
$0.71 |
$0.64 |
$0.65 |
$0.63 |
$0.63 |
$0.77 |
$0.77 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
49.32M |
49.30M |
49.40M |
49.46M |
49.62M |
49.55M |
50.77M |
51.43M |
51.42M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
48.71M |
49.10M |
50.54M |
49.13M |
49.14M |
49.52M |
50.55M |
50.56M |
50.98M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
37 |
39 |
35 |
31 |
22 |
44 |
27 |
52 |
40 |
Normalized NOPAT Margin |
|
27.44% |
29.82% |
27.66% |
25.45% |
19.10% |
32.70% |
22.32% |
34.32% |
28.88% |
Pre Tax Income Margin |
|
41.19% |
37.82% |
37.00% |
35.95% |
31.41% |
41.12% |
34.22% |
44.41% |
38.36% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
EBIT Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
89.21% |
71.81% |
78.18% |
76.62% |
84.98% |
82.31% |
0.00% |
0.00% |
70.83% |
Augmented Payout Ratio |
|
104.05% |
89.75% |
93.77% |
91.74% |
101.51% |
98.08% |
0.00% |
0.00% |
86.98% |
Key Financial Trends
Financial Performance Overview (Q1 2025 vs. Prior Periods)
- Net income for Q1 2025 stood at $43.3 million, showing stability in profitability with consistent net income levels compared to Q4 2024 ($43.0 million) and Q1 2024 ($36.3 million).
- Total revenue for Q1 2025 is $138.0 million, which is consistent with recent quarters, reflecting steady income generation primarily from non-interest sources.
- Net realized & unrealized capital gains on investments increased to $3.55 million in Q1 2025 from $1.9 million in Q3 2024, indicating favorable investment performance.
- Operating expenses (salaries, employee benefits, and others) remained relatively stable around $89 million in Q1 2025, supporting operational efficiency maintenance.
- Basic earnings per share (EPS) rose slightly to $0.78 in Q1 2025, an increase from prior comparable quarters, supporting shareholder value.
- Cash dividends per share increased to $0.62 in Q1 2025 from $0.59 in Q4 2024, consistent with a shareholder-friendly dividend policy.
- The number of outstanding shares has remained fairly stable around 51 million, indicating no major dilution in recent quarters.
- Net cash from operating activities was negative $109 million in Q1 2025, a marked decline from positive $34.8 million in Q4 2024, driven largely by a net increase in operating assets and liabilities.
- Although net cash from investing activities was positive $2 million in Q1 2025, this is a decrease from $23.1 million in Q4 2024, reflecting reduced investment sales or maturities relative to purchases.
- Net cash flow from financing activities was negative $10.5 million in Q1 2025 compared to positive $13.1 million in Q4 2024, primarily due to repurchases of common equity and dividend payments outweighing equity issuance.
Balance Sheet Highlights
- Total assets increased to $835 million in Q1 2025 from $728 million in Q3 2024, reflecting growth in trading account securities ($473 million in Q1 2025 vs $321 million in Q3 2024).
- Total equity rose to about $520 million in Q1 2025 from $498 million in Q3 2024, indicating strengthening shareholder equity.
- Redeemable noncontrolling interest remains significant at approximately $122 million in Q1 2025, consistent with prior periods.
- Liabilities increased modestly to $193.5 million in Q1 2025 from $215.2 million in Q3 2024, suggesting moderate increases in debt or payables.
- Cash and due from banks reduced to $65.2 million in Q1 2025 from $106.5 million in Q3 2024, consistent with cash outflows noted in cash flow statements.
Summary
Cohen & Steers (NYSE:CNS) continues to generate stable net income and earnings per share, supported by steady revenues largely from non-interest income sources. Its balance sheet reflects asset growth, particularly in trading securities, and growing shareholder equity. However, the recent quarter (Q1 2025) saw negative cash flows from operating activities, highlighting potential liquidity management challenges or timing issues in working capital. The company maintains a consistent dividend policy, increasing dividend payouts modestly. Investors should monitor upcoming quarters for operating cash flow trends and how the company manages capital deployment and equity repurchases relative to sustaining profitability and dividend growth.
08/09/25 06:37 AMAI Generated. May Contain Errors.