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Cohen & Steers (CNS) Financials

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$73.31 -0.72 (-0.97%)
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Annual Income Statements for Cohen & Steers

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.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 65 93 92 114 135 77 211 171 129 151
Consolidated Net Income / (Loss)		 64 93 92 110 147 75 226 149 137 163
Net Income / (Loss) Continuing Operations		 64 93 92 110 147 75 226 149 137 163
Total Pre-Tax Income 		113 143 160 144 188 93 282 197 180 210
Total Revenue		 326 356 381 367 433 423 603 542 494 534
Net Interest Income / (Expense)		 0.00 0.00 0.00 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 0.00 0.00 0.00
Total Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Non-Interest Income		 326 356 381 367 433 423 603 542 494 534
Net Realized & Unrealized Capital Gains on Investments		 -2.65 4.99 2.02 -14 22 -4.12 19 -25 4.29 17
Other Non-Interest Income		 - 351 379 381 411 428 584 567 490 517
Total Non-Interest Expense		 201 216 224 234 251 332 323 351 325 345
Salaries and Employee Benefits		 108 116 124 131 143 156 195 209 200 218
Insurance Policy Acquisition Costs		 36 53 53 50 55 115 76 83 54 57
Other Operating Expenses		 51 43 42 48 48 56 48 55 67 60
Depreciation Expense		 6.21 4.25 4.32 4.47 4.40 4.65 4.09 4.38 4.11 9.29
Nonoperating Income / (Expense), net		 -12 2.90 3.63 11 5.74 2.45 2.79 6.07 11 20
Income Tax Expense		 48 51 68 34 41 18 56 47 44 47
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.21 -0.13 0.55 -4.37 12 -1.42 15 -22 7.56 12
Basic Earnings per Share		 $1.42 $2.02 $1.98 $2.43 $2.85 $1.60 $4.38 $3.51 $2.62 $3.00
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
Diluted Earnings per Share		 $1.41 $2.00 $1.96 $2.40 $2.79 $1.57 $4.31 $3.47 $2.60 $2.97
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
Weighted Average Basic & Diluted Shares Outstanding		 45.50M 46M 46.40M 46.90M 47.20M 48.23M 48.67M 49.10M 49.52M 50.97M
Cash Dividends to Common per Share		 $1.50 $1.54 $2.12 $3.82 $3.44 $2.56 $3.05 $2.20 $2.28 $2.36

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
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 6/30/2024 9/30/2024 3/31/2025
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
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
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
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 9/30/2024 12/31/2024 3/31/2025
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
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
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
Period end date 9/30/2022 3/31/2024 6/30/2023 9/30/2023 6/30/2024 9/30/2024 3/31/2025
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
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
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
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 6/30/2024 9/30/2024 3/31/2025
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 Highlights

  • For Q1 2025, Cohen & Steers reported a net income attributable to common shareholders of $39.78 million, showing solid profitability.
  • Total revenue for Q1 2025 was $138.02 million, demonstrating an increase compared to prior quarters, driven primarily by non-interest income.
  • Net realized and unrealized capital gains on investments in Q1 2025 were $3.55 million, indicating successful investment performance.
  • Nonoperating income netted a gain of $4.2 million in Q1 2025, contributing positively to pre-tax income.
  • Cohen & Steers consistently shows zero interest income and interest expense across all recent quarters, highlighting the company's operational focus is not on traditional lending activities.
  • The company maintains a relatively stable weighted average basic and diluted share count around 51 million shares, indicating no significant dilution in recent quarters.
  • Operating cash flow in Q1 2025 was negative at $108.9 million, largely due to a significant $171.3 million unfavorable change in operating assets and liabilities, possibly reflecting timing or working capital pressures.
  • Despite positive net income, free cash flow is constrained by ongoing large investment purchases and share repurchases, with $76.3 million spent on investment securities and $25.98 million in common equity repurchases in Q1 2025.
  • Dividend payments remain high relative to net income, with $31.7 million paid in Q1 2025, indicating a substantial capital return commitment that might pressure liquidity.
  • Total liabilities increased from $113 million in Q3 2022 to $193.5 million in Q1 2025, while total assets grew from $506 million to $835 million over the same period, indicating growth but also increased leverage from redeemable noncontrolling interest of $121.7 million as of Q1 2025.

Trend Analysis

  • Net income has generally increased from about $31 million in Q2 2023 to nearly $40 million in Q1 2025, demonstrating improving profitability.
  • The company’s consistent generation of non-interest income above $120 million quarterly supports revenue stability, reflecting reliance on investment management fees and related income streams.
  • Cash and equivalents declined from $178 million in Q2 2023 to $65 million in Q1 2025, reflecting significant cash outflows due to investing activities and shareholder returns.
  • Trading account securities increased from about $188 million in Q2 2023 to $473 million in Q1 2025, which might expose the company to market volatility risks.
  • Total equity and noncontrolling interests rose from $358 million in Q2 2023 to $520 million in Q1 2025, reflecting retained earnings and capital contributions despite treasury stock activity.

Summary for Investors

Cohen & Steers shows strong core profitability with increasing net income and stable revenue from its investment management activities. However, significant cash outflows for investment securities purchases, dividends, and share repurchases have led to negative operating cash flow in the most recent quarter and a reduction in cash reserves. Investors should monitor the company’s ability to manage liquidity and maintain cash flow, especially given the large portfolio of trading securities that could be impacted by market swings. The stable share count and growing equity base support a balanced capital structure, but ongoing high dividend payouts and share repurchases require careful cash management. Overall, the company is growing its earnings but faces liquidity headwinds that retail investors should consider alongside valuation and market conditions.

08/29/25 07:55 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Cohen & Steers' Financials

When does Cohen & Steers' fiscal year end?

According to the most recent income statement we have on file, Cohen & Steers' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Cohen & Steers' net income changed over the last 9 years?

Cohen & Steers' net income appears to be on an upward trend, with a most recent value of $162.79 million in 2024, rising from $64.34 million in 2015. The previous period was $136.61 million in 2023. Find out what analysts predict for Cohen & Steers in the coming months.

How has Cohen & Steers' revenue changed over the last 9 years?

Over the last 9 years, Cohen & Steers' total revenue changed from $326.01 million in 2015 to $534.00 million in 2024, a change of 63.8%.

How much debt does Cohen & Steers have?

Cohen & Steers' total liabilities were at $237.46 million at the end of 2024, a 2.6% decrease from 2023, and a 281.7% increase since 2015.

How much cash does Cohen & Steers have?

In the past 9 years, Cohen & Steers' cash and equivalents has ranged from $41.23 million in 2020 to $247.42 million in 2022, and is currently $182.97 million as of their latest financial filing in 2024.

How has Cohen & Steers' book value per share changed over the last 9 years?

Over the last 9 years, Cohen & Steers' book value per share changed from 5.10 in 2015 to 10.12 in 2024, a change of 98.4%.


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This page (NYSE:CNS) was last updated on 8/29/2025 by MarketBeat.com Staff
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