Annual Income Statements for Federated Hermes
This table shows Federated Hermes' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Federated Hermes
This table shows Federated Hermes' 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 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
| Net Income / (Loss) Attributable to Common Shareholders |
|
69 |
56 |
70 |
72 |
75 |
82 |
75 |
21 |
88 |
85 |
101 |
| Consolidated Net Income / (Loss) |
|
68 |
62 |
71 |
73 |
74 |
86 |
75 |
19 |
90 |
84 |
104 |
| Net Income / (Loss) Continuing Operations |
|
68 |
62 |
71 |
73 |
74 |
86 |
75 |
19 |
90 |
84 |
104 |
| Total Pre-Tax Income |
|
89 |
75 |
92 |
101 |
101 |
117 |
104 |
43 |
123 |
112 |
136 |
| Total Revenue |
|
381 |
374 |
382 |
433 |
403 |
391 |
396 |
403 |
408 |
425 |
424 |
| Net Interest Income / (Expense) |
|
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 |
| Total Interest Expense |
|
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
| Total Non-Interest Income |
|
381 |
374 |
382 |
433 |
403 |
391 |
396 |
403 |
408 |
425 |
424 |
| Other Non-Interest Income |
|
381 |
- |
382 |
433 |
- |
- |
396 |
403 |
- |
- |
424 |
| Total Non-Interest Expense |
|
284 |
310 |
297 |
335 |
301 |
289 |
298 |
362 |
297 |
314 |
292 |
| Salaries and Employee Benefits |
|
127 |
124 |
137 |
160 |
139 |
128 |
137 |
131 |
136 |
137 |
143 |
| Net Occupancy & Equipment Expense |
|
30 |
31 |
33 |
33 |
32 |
31 |
32 |
33 |
34 |
34 |
34 |
| Marketing Expense |
|
9.92 |
11 |
7.57 |
8.94 |
7.89 |
14 |
7.58 |
10 |
9.60 |
12 |
8.13 |
| Other Operating Expenses |
|
118 |
144 |
120 |
133 |
122 |
116 |
122 |
188 |
118 |
131 |
106 |
| Nonoperating Income / (Expense), net |
|
-7.57 |
11 |
7.31 |
2.16 |
-0.42 |
15 |
5.44 |
1.94 |
11 |
1.91 |
4.27 |
| Income Tax Expense |
|
22 |
14 |
21 |
28 |
27 |
31 |
29 |
23 |
32 |
28 |
32 |
| Net Income / (Loss) Attributable to Noncontrolling Interest |
|
-1.91 |
5.14 |
1.87 |
0.83 |
-0.76 |
3.87 |
-0.02 |
-1.80 |
2.80 |
-0.86 |
2.74 |
| Basic Earnings per Share |
|
$0.78 |
$0.62 |
$0.78 |
$0.81 |
$0.86 |
$0.95 |
$0.89 |
$0.20 |
$1.06 |
$1.08 |
$1.25 |
| Weighted Average Basic Shares Outstanding |
|
89.00M |
89.28M |
89.52M |
88.30M |
86.25M |
84.45M |
84.16M |
82.60M |
81.81M |
81.31M |
79.10M |
| Diluted Earnings per Share |
|
$0.78 |
$0.62 |
$0.78 |
$0.81 |
$0.86 |
$0.95 |
$0.89 |
$0.20 |
$1.06 |
$1.08 |
$1.25 |
| Weighted Average Diluted Shares Outstanding |
|
89.00M |
89.28M |
89.52M |
88.30M |
86.25M |
84.45M |
84.16M |
82.60M |
81.81M |
81.31M |
79.10M |
| Weighted Average Basic & Diluted Shares Outstanding |
|
89.00M |
89.28M |
89.52M |
88.30M |
86.25M |
84.45M |
84.16M |
82.60M |
81.81M |
81.31M |
79.10M |
| Cash Dividends to Common per Share |
|
$0.27 |
$0.27 |
$0.27 |
$0.28 |
$0.28 |
$0.28 |
$0.28 |
$1.31 |
$0.31 |
$0.31 |
$0.31 |
Annual Cash Flow Statements for Federated Hermes
This table details how cash moves in and out of Federated Hermes' 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 |
|
57 |
-68 |
211 |
-159 |
92 |
59 |
-71 |
103 |
46 |
121 |
| Net Cash From Operating Activities |
|
233 |
266 |
387 |
206 |
335 |
373 |
170 |
324 |
312 |
347 |
| Net Cash From Continuing Operating Activities |
|
233 |
266 |
387 |
206 |
335 |
373 |
170 |
324 |
312 |
347 |
| Net Income / (Loss) Continuing Operations |
|
172 |
222 |
295 |
222 |
277 |
336 |
272 |
235 |
305 |
268 |
| Consolidated Net Income / (Loss) |
|
172 |
222 |
295 |
222 |
277 |
336 |
272 |
235 |
305 |
268 |
| Depreciation Expense |
|
9.54 |
9.58 |
11 |
17 |
28 |
30 |
30 |
28 |
27 |
22 |
| Non-Cash Adjustments to Reconcile Net Income |
|
22 |
27 |
89 |
62 |
5.96 |
20 |
-120 |
57 |
-7.65 |
38 |
| Changes in Operating Assets and Liabilities, net |
|
15 |
-4.08 |
-15 |
-98 |
24 |
-12 |
-12 |
4.06 |
-12 |
18 |
| Net Cash From Investing Activities |
|
-5.73 |
-21 |
1.00 |
-174 |
-95 |
-25 |
11 |
-32 |
-31 |
64 |
| Net Cash From Continuing Investing Activities |
|
-5.73 |
-21 |
1.00 |
-174 |
-95 |
-25 |
11 |
-32 |
-31 |
64 |
| Purchase of Property, Leasehold Improvements and Equipment |
|
-6.03 |
-13 |
-9.80 |
-17 |
-15 |
-14 |
-10 |
-4.37 |
-7.92 |
-4.02 |
| Purchase of Investment Securities |
|
-5.46 |
-24 |
-10 |
-178 |
-161 |
-23 |
-15 |
-51 |
-58 |
-48 |
| Sale and/or Maturity of Investments |
|
5.76 |
16 |
21 |
20 |
81 |
11 |
36 |
23 |
35 |
120 |
| Other Investing Activities, net |
|
- |
- |
0.00 |
0.21 |
- |
- |
- |
0.00 |
0.00 |
-4.10 |
| Net Cash From Financing Activities |
|
-170 |
-312 |
-177 |
-186 |
-153 |
-295 |
-249 |
-169 |
-243 |
-286 |
| Net Cash From Continuing Financing Activities |
|
-170 |
-312 |
-177 |
-186 |
-153 |
-295 |
-249 |
-169 |
-243 |
-286 |
| Issuance of Debt |
|
- |
0.00 |
0.00 |
88 |
8.80 |
100 |
296 |
488 |
0.00 |
0.00 |
| Repayment of Debt |
|
-26 |
-26 |
-21 |
-123 |
-44 |
-125 |
-147 |
-362 |
0.00 |
0.00 |
| Repurchase of Common Equity |
|
-54 |
-82 |
-49 |
-29 |
-16 |
-67 |
-228 |
-218 |
-177 |
-138 |
| Payment of Dividends |
|
-105 |
-205 |
-102 |
-107 |
-113 |
-224 |
-111 |
-124 |
-138 |
-216 |
| Other Financing Activities, Net |
|
12 |
-1.06 |
-6.82 |
-16 |
11 |
21 |
-59 |
47 |
72 |
67 |
| Effect of Exchange Rate Changes |
|
- |
0.00 |
0.00 |
-5.11 |
4.51 |
5.84 |
-2.31 |
-20 |
7.87 |
-3.80 |
| Cash Interest Paid |
|
3.99 |
3.49 |
4.11 |
5.32 |
4.61 |
2.39 |
1.13 |
7.18 |
12 |
12 |
| Cash Income Taxes Paid |
|
77 |
105 |
118 |
62 |
73 |
99 |
92 |
86 |
109 |
126 |
Quarterly Cash Flow Statements for Federated Hermes
This table details how cash moves in and out of Federated Hermes' 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 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
| Net Change in Cash & Equivalents |
|
55 |
33 |
-13 |
19 |
34 |
5.72 |
-23 |
-53 |
68 |
129 |
-120 |
| Net Cash From Operating Activities |
|
112 |
132 |
5.42 |
71 |
106 |
130 |
14 |
89 |
117 |
127 |
14 |
| Net Cash From Continuing Operating Activities |
|
112 |
132 |
5.42 |
71 |
106 |
130 |
14 |
89 |
117 |
127 |
14 |
| Net Income / (Loss) Continuing Operations |
|
68 |
62 |
71 |
73 |
74 |
86 |
75 |
19 |
90 |
84 |
104 |
| Consolidated Net Income / (Loss) |
|
68 |
62 |
71 |
73 |
74 |
86 |
75 |
19 |
90 |
84 |
104 |
| Depreciation Expense |
|
6.77 |
6.89 |
8.02 |
6.70 |
6.09 |
6.02 |
5.63 |
5.53 |
5.71 |
5.56 |
5.42 |
| Non-Cash Adjustments to Reconcile Net Income |
|
28 |
23 |
-5.47 |
-1.77 |
-4.55 |
4.14 |
13 |
53 |
-21 |
-6.52 |
-4.46 |
| Changes in Operating Assets and Liabilities, net |
|
9.74 |
41 |
-69 |
-6.79 |
30 |
33 |
-80 |
11 |
42 |
44 |
-91 |
| Net Cash From Investing Activities |
|
-1.41 |
-31 |
1.84 |
5.41 |
1.32 |
-39 |
28 |
3.58 |
-8.31 |
41 |
-1.53 |
| Net Cash From Continuing Investing Activities |
|
-1.41 |
-31 |
1.84 |
5.41 |
1.32 |
-39 |
28 |
3.58 |
-8.31 |
41 |
-1.53 |
| Purchase of Property, Leasehold Improvements and Equipment |
|
-1.21 |
-0.28 |
-0.74 |
-2.98 |
-2.08 |
-2.11 |
-0.57 |
-5.98 |
3.03 |
-0.51 |
-0.97 |
| Purchase of Investment Securities |
|
-14 |
-32 |
-1.58 |
-9.66 |
-2.36 |
-44 |
-26 |
-2.89 |
-16 |
-2.46 |
-1.76 |
| Sale and/or Maturity of Investments |
|
13 |
1.38 |
4.16 |
18 |
5.75 |
7.34 |
54 |
12 |
9.21 |
44 |
1.23 |
| Other Investing Activities, net |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
-0.03 |
| Net Cash From Financing Activities |
|
-43 |
-79 |
-22 |
-61 |
-68 |
-91 |
-64 |
-145 |
-52 |
-26 |
-138 |
| Net Cash From Continuing Financing Activities |
|
-43 |
-79 |
-22 |
-61 |
-68 |
-91 |
-64 |
-145 |
-52 |
-26 |
-138 |
| Repurchase of Common Equity |
|
-6.61 |
-6.93 |
-6.56 |
-41 |
-64 |
-65 |
-39 |
-46 |
-29 |
-23 |
-120 |
| Payment of Dividends |
|
-41 |
-28 |
-27 |
-40 |
-40 |
-32 |
-27 |
-115 |
-36 |
-38 |
-34 |
| Other Financing Activities, Net |
|
4.35 |
6.35 |
12 |
20 |
35 |
5.09 |
2.64 |
16 |
13 |
35 |
16 |
| Effect of Exchange Rate Changes |
|
-12 |
9.81 |
2.05 |
3.60 |
-4.53 |
6.75 |
-1.41 |
0.08 |
10 |
-13 |
5.27 |
Annual Balance Sheets for Federated Hermes
This table presents Federated Hermes' 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 |
|
1,187 |
1,155 |
1,231 |
1,544 |
1,880 |
2,061 |
2,018 |
2,020 |
2,102 |
2,085 |
| Cash and Due from Banks |
|
173 |
105 |
316 |
157 |
249 |
302 |
233 |
337 |
383 |
504 |
| Trading Account Securities |
|
149 |
138 |
- |
- |
- |
- |
- |
185 |
177 |
137 |
| 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 |
| Premises and Equipment, Net |
|
36 |
39 |
38 |
53 |
52 |
53 |
47 |
36 |
31 |
26 |
| Goodwill |
|
659 |
659 |
660 |
810 |
775 |
800 |
799 |
800 |
807 |
805 |
| Intangible Assets |
|
75 |
74 |
77 |
340 |
446 |
482 |
471 |
409 |
409 |
328 |
| Other Assets |
|
96 |
140 |
141 |
184 |
358 |
424 |
468 |
253 |
294 |
285 |
| Total Liabilities & Shareholders' Equity |
|
1,187 |
1,155 |
1,231 |
1,544 |
1,880 |
2,061 |
2,018 |
2,020 |
2,102 |
2,085 |
| Total Liabilities |
|
529 |
528 |
440 |
504 |
627 |
687 |
841 |
913 |
948 |
934 |
| Other Short-Term Payables |
|
134 |
137 |
129 |
181 |
231 |
265 |
271 |
257 |
287 |
289 |
| Long-Term Debt |
|
191 |
166 |
- |
- |
- |
- |
223 |
348 |
348 |
348 |
| Other Long-Term Liabilities |
|
179 |
200 |
141 |
188 |
296 |
346 |
347 |
308 |
313 |
297 |
| 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 |
|
8.73 |
31 |
30 |
183 |
212 |
237 |
63 |
62 |
26 |
56 |
| Total Equity & Noncontrolling Interests |
|
649 |
596 |
761 |
857 |
1,041 |
1,137 |
1,114 |
1,046 |
1,128 |
1,095 |
| Total Preferred & Common Equity |
|
648 |
595 |
761 |
857 |
1,041 |
1,137 |
1,114 |
1,046 |
1,128 |
1,095 |
| Total Common Equity |
|
658 |
596 |
761 |
857 |
1,041 |
1,137 |
1,114 |
1,046 |
1,128 |
1,095 |
| Common Stock |
|
299 |
321 |
343 |
367 |
392 |
419 |
449 |
441 |
475 |
504 |
| Retained Earnings |
|
546 |
530 |
697 |
792 |
930 |
1,028 |
1,187 |
1,016 |
1,195 |
1,257 |
| Treasury Stock |
|
-192 |
-255 |
-279 |
-287 |
-281 |
-325 |
-538 |
-365 |
-521 |
-633 |
| Accumulated Other Comprehensive Income / (Loss) |
|
4.61 |
0.52 |
-0.79 |
-15 |
-0.25 |
15 |
16 |
-46 |
-20 |
-32 |
Quarterly Balance Sheets for Federated Hermes
This table presents Federated Hermes' 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 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
| Total Assets |
|
1,973 |
1,999 |
2,060 |
2,080 |
2,087 |
1,912 |
2,038 |
2,002 |
| Cash and Due from Banks |
|
305 |
324 |
343 |
377 |
360 |
307 |
375 |
388 |
| Trading Account Securities |
|
33 |
- |
178 |
177 |
199 |
145 |
190 |
154 |
| Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Premises and Equipment, Net |
|
38 |
33 |
31 |
31 |
29 |
32 |
28 |
24 |
| Goodwill |
|
775 |
803 |
807 |
802 |
806 |
806 |
814 |
809 |
| Intangible Assets |
|
407 |
411 |
415 |
402 |
404 |
336 |
343 |
330 |
| Other Assets |
|
416 |
429 |
286 |
291 |
290 |
285 |
289 |
297 |
| Total Liabilities & Shareholders' Equity |
|
1,973 |
1,999 |
2,060 |
2,080 |
2,087 |
1,912 |
2,038 |
2,002 |
| Total Liabilities |
|
947 |
853 |
868 |
910 |
866 |
864 |
901 |
859 |
| Accrued Interest Payable |
|
- |
22 |
- |
- |
24 |
- |
- |
30 |
| Other Short-Term Payables |
|
239 |
190 |
234 |
256 |
189 |
223 |
263 |
193 |
| Long-Term Debt |
|
398 |
348 |
348 |
348 |
348 |
348 |
348 |
348 |
| Other Long-Term Liabilities |
|
310 |
293 |
286 |
306 |
306 |
293 |
289 |
288 |
| Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Redeemable Noncontrolling Interest |
|
55 |
40 |
58 |
71 |
73 |
30 |
53 |
67 |
| Total Equity & Noncontrolling Interests |
|
971 |
1,107 |
1,134 |
1,100 |
1,147 |
1,017 |
1,084 |
1,076 |
| Total Preferred & Common Equity |
|
971 |
1,107 |
1,134 |
1,100 |
1,147 |
1,017 |
1,084 |
1,076 |
| Total Common Equity |
|
971 |
1,107 |
1,134 |
1,100 |
1,147 |
1,017 |
1,084 |
1,076 |
| Common Stock |
|
434 |
452 |
461 |
468 |
485 |
491 |
498 |
515 |
| Retained Earnings |
|
1,002 |
1,051 |
1,098 |
1,148 |
1,235 |
1,146 |
1,208 |
1,320 |
| Treasury Stock |
|
-377 |
-360 |
-404 |
-473 |
-548 |
-596 |
-623 |
-742 |
| Accumulated Other Comprehensive Income / (Loss) |
|
-87 |
-36 |
-22 |
-43 |
-25 |
-25 |
0.89 |
-17 |
Annual Metrics And Ratios for Federated Hermes
This table displays calculated financial ratios and metrics derived from Federated Hermes' official financial filings.
| Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
| Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Revenue Growth |
|
7.84% |
23.39% |
-3.54% |
2.97% |
16.84% |
9.15% |
-10.21% |
11.18% |
11.33% |
1.40% |
| EBITDA Growth |
|
16.33% |
17.50% |
0.82% |
-2.73% |
7.31% |
19.19% |
-11.56% |
-7.92% |
13.57% |
-7.36% |
| EBIT Growth |
|
17.44% |
20.12% |
1.74% |
-3.29% |
5.34% |
20.18% |
-12.41% |
-8.05% |
15.07% |
-6.73% |
| NOPAT Growth |
|
17.38% |
24.75% |
31.18% |
-13.36% |
6.48% |
19.33% |
-15.85% |
-2.67% |
11.31% |
-11.46% |
| Net Income Growth |
|
14.79% |
28.80% |
33.13% |
-24.62% |
24.66% |
21.25% |
-18.96% |
-13.86% |
29.94% |
-11.93% |
| EPS Growth |
|
14.08% |
25.31% |
41.38% |
-24.04% |
23.39% |
20.07% |
-14.86% |
-3.64% |
28.30% |
-5.00% |
| Operating Cash Flow Growth |
|
21.15% |
13.93% |
45.81% |
-46.75% |
62.37% |
11.44% |
-54.35% |
90.13% |
-3.74% |
11.14% |
| Free Cash Flow Firm Growth |
|
2.98% |
75.78% |
-47.79% |
-75.80% |
146.04% |
157.39% |
42.89% |
-35.10% |
18.11% |
7.10% |
| Invested Capital Growth |
|
2.20% |
-6.41% |
17.47% |
22.18% |
15.22% |
7.07% |
-3.34% |
3.89% |
3.22% |
-0.21% |
| Revenue Q/Q Growth |
|
2.86% |
4.22% |
-1.04% |
2.61% |
3.98% |
0.41% |
-3.15% |
3.75% |
1.11% |
2.08% |
| EBITDA Q/Q Growth |
|
4.97% |
2.23% |
1.36% |
-0.06% |
4.18% |
2.43% |
-6.23% |
-6.49% |
10.08% |
1.96% |
| EBIT Q/Q Growth |
|
5.77% |
2.42% |
1.79% |
-0.86% |
4.45% |
2.95% |
-6.67% |
-6.87% |
11.13% |
2.22% |
| NOPAT Q/Q Growth |
|
5.77% |
3.77% |
33.38% |
-21.80% |
4.78% |
3.85% |
-7.57% |
-5.62% |
8.43% |
2.72% |
| Net Income Q/Q Growth |
|
5.89% |
3.78% |
33.95% |
-24.04% |
9.25% |
5.06% |
-10.01% |
-3.84% |
8.71% |
-0.81% |
| EPS Q/Q Growth |
|
5.19% |
4.64% |
35.38% |
-23.78% |
8.03% |
4.53% |
-8.03% |
-3.28% |
10.75% |
4.19% |
| Operating Cash Flow Q/Q Growth |
|
0.07% |
3.58% |
34.73% |
-25.99% |
1.52% |
1.96% |
-26.16% |
24.14% |
-0.88% |
-0.84% |
| Free Cash Flow Firm Q/Q Growth |
|
-28.68% |
60.34% |
-46.03% |
750.18% |
-47.40% |
86.80% |
-17.54% |
-4.17% |
41.43% |
-8.41% |
| Invested Capital Q/Q Growth |
|
0.60% |
-9.91% |
12.08% |
-0.46% |
6.57% |
-0.47% |
2.80% |
2.22% |
-1.09% |
0.93% |
| Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| EBITDA Margin |
|
32.81% |
31.24% |
32.66% |
30.85% |
28.33% |
30.94% |
30.47% |
25.24% |
25.74% |
23.52% |
| EBIT Margin |
|
30.16% |
29.36% |
30.96% |
29.08% |
26.22% |
28.87% |
28.17% |
23.29% |
24.08% |
22.15% |
| Profit (Net Income) Margin |
|
18.56% |
19.37% |
26.74% |
19.57% |
20.89% |
23.20% |
20.94% |
16.22% |
18.94% |
16.45% |
| Tax Burden Percent |
|
62.56% |
64.97% |
83.78% |
75.06% |
75.87% |
75.33% |
72.37% |
76.60% |
74.10% |
70.34% |
| Interest Burden Percent |
|
98.38% |
101.56% |
103.07% |
89.67% |
104.99% |
106.67% |
102.74% |
90.92% |
106.14% |
105.57% |
| Effective Tax Rate |
|
37.44% |
35.03% |
16.22% |
24.94% |
24.13% |
24.67% |
27.63% |
23.40% |
25.90% |
29.66% |
| Return on Invested Capital (ROIC) |
|
20.21% |
25.77% |
32.15% |
23.21% |
20.88% |
22.48% |
18.60% |
18.07% |
19.42% |
16.95% |
| ROIC Less NNEP Spread (ROIC-NNEP) |
|
18.97% |
27.44% |
37.02% |
6.43% |
32.08% |
46.51% |
23.46% |
9.86% |
24.49% |
21.02% |
| Return on Net Nonoperating Assets (RNNOA) |
|
6.85% |
8.71% |
9.43% |
1.07% |
3.29% |
3.10% |
2.74% |
2.47% |
7.53% |
6.35% |
| Return on Equity (ROE) |
|
27.06% |
34.48% |
41.58% |
24.28% |
24.17% |
25.58% |
21.35% |
20.53% |
26.95% |
23.29% |
| Cash Return on Invested Capital (CROIC) |
|
18.03% |
32.39% |
16.08% |
3.24% |
6.74% |
15.66% |
22.00% |
14.25% |
16.25% |
17.15% |
| Operating Return on Assets (OROA) |
|
24.01% |
28.66% |
28.62% |
23.80% |
20.32% |
21.22% |
17.96% |
16.68% |
18.80% |
17.27% |
| Return on Assets (ROA) |
|
14.78% |
18.91% |
24.71% |
16.02% |
16.19% |
17.05% |
13.35% |
11.62% |
14.79% |
12.82% |
| Return on Common Equity (ROCE) |
|
27.06% |
33.65% |
39.78% |
21.46% |
20.01% |
21.21% |
18.84% |
19.41% |
25.91% |
22.47% |
| Return on Equity Simple (ROE_SIMPLE) |
|
26.55% |
37.24% |
38.74% |
25.94% |
26.61% |
29.55% |
24.44% |
22.43% |
27.01% |
24.51% |
| Net Operating Profit after Tax (NOPAT) |
|
175 |
218 |
286 |
248 |
264 |
315 |
265 |
258 |
287 |
254 |
| NOPAT Margin |
|
18.87% |
19.08% |
25.94% |
21.83% |
19.89% |
21.75% |
20.38% |
17.84% |
17.84% |
15.58% |
| Net Nonoperating Expense Percent (NNEP) |
|
1.24% |
-1.67% |
-4.87% |
16.79% |
-11.20% |
-24.03% |
-4.86% |
8.20% |
-5.07% |
-4.07% |
| SG&A Expenses to Revenue |
|
39.78% |
33.49% |
33.93% |
40.60% |
43.30% |
43.33% |
52.25% |
46.15% |
45.42% |
43.65% |
| Operating Expenses to Revenue |
|
69.84% |
70.64% |
69.04% |
70.92% |
73.78% |
71.13% |
71.83% |
76.71% |
75.92% |
77.85% |
| Earnings before Interest and Taxes (EBIT) |
|
279 |
336 |
342 |
330 |
348 |
418 |
366 |
337 |
388 |
361 |
| Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
304 |
357 |
360 |
350 |
376 |
448 |
396 |
365 |
414 |
384 |
| Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Price to Book Value (P/BV) |
|
2.96 |
3.42 |
3.50 |
2.37 |
2.50 |
2.16 |
2.89 |
2.79 |
2.41 |
3.05 |
| Price to Tangible Book Value (P/TBV) |
|
0.00 |
0.00 |
109.56 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Price to Revenue (P/Rev) |
|
2.11 |
1.78 |
2.41 |
1.79 |
1.96 |
1.70 |
2.48 |
2.01 |
1.69 |
2.04 |
| Price to Earnings (P/E) |
|
11.49 |
9.76 |
9.14 |
9.23 |
9.54 |
7.53 |
11.93 |
12.16 |
9.08 |
12.44 |
| Dividend Yield |
|
5.34% |
5.01% |
3.79% |
5.24% |
4.20% |
7.32% |
3.24% |
3.30% |
3.53% |
5.42% |
| Earnings Yield |
|
8.70% |
10.24% |
10.94% |
10.84% |
10.48% |
13.29% |
8.38% |
8.22% |
11.01% |
8.04% |
| Enterprise Value to Invested Capital (EV/IC) |
|
2.29 |
2.64 |
2.65 |
1.87 |
1.97 |
1.70 |
2.34 |
2.05 |
1.80 |
2.16 |
| Enterprise Value to Revenue (EV/Rev) |
|
2.16 |
1.89 |
2.31 |
1.93 |
2.01 |
1.70 |
2.52 |
2.06 |
1.68 |
1.98 |
| Enterprise Value to EBITDA (EV/EBITDA) |
|
6.59 |
6.04 |
7.07 |
6.26 |
7.08 |
5.50 |
8.27 |
8.18 |
6.53 |
8.43 |
| Enterprise Value to EBIT (EV/EBIT) |
|
7.17 |
6.43 |
7.46 |
6.64 |
7.65 |
5.90 |
8.95 |
8.86 |
6.98 |
8.95 |
| Enterprise Value to NOPAT (EV/NOPAT) |
|
11.46 |
9.89 |
8.90 |
8.85 |
10.09 |
7.83 |
12.36 |
11.57 |
9.42 |
12.73 |
| Enterprise Value to Operating Cash Flow (EV/OCF) |
|
8.59 |
8.12 |
6.57 |
10.63 |
7.95 |
6.61 |
19.23 |
9.22 |
8.68 |
9.34 |
| Enterprise Value to Free Cash Flow (EV/FCFF) |
|
12.85 |
7.87 |
17.79 |
63.32 |
31.23 |
11.24 |
10.45 |
14.67 |
11.26 |
12.57 |
| Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Debt to Equity |
|
0.33 |
0.31 |
0.21 |
0.13 |
0.08 |
0.05 |
0.19 |
0.31 |
0.30 |
0.30 |
| Long-Term Debt to Equity |
|
0.29 |
0.26 |
0.00 |
0.00 |
0.00 |
0.00 |
0.19 |
0.31 |
0.30 |
0.30 |
| Financial Leverage |
|
0.36 |
0.32 |
0.25 |
0.17 |
0.10 |
0.07 |
0.12 |
0.25 |
0.31 |
0.30 |
| Leverage Ratio |
|
1.83 |
1.82 |
1.68 |
1.52 |
1.49 |
1.50 |
1.60 |
1.77 |
1.82 |
1.82 |
| Compound Leverage Factor |
|
1.80 |
1.85 |
1.73 |
1.36 |
1.57 |
1.60 |
1.64 |
1.61 |
1.93 |
1.92 |
| Debt to Total Capital |
|
24.79% |
23.37% |
17.68% |
11.49% |
7.39% |
5.18% |
15.95% |
23.89% |
23.16% |
23.23% |
| Short-Term Debt to Total Capital |
|
2.92% |
3.12% |
17.68% |
11.49% |
7.39% |
5.18% |
0.00% |
0.00% |
0.00% |
0.00% |
| Long-Term Debt to Total Capital |
|
21.87% |
20.25% |
0.00% |
0.00% |
0.00% |
0.00% |
15.95% |
23.89% |
23.16% |
23.23% |
| 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 |
|
1.00% |
3.95% |
3.14% |
15.54% |
15.67% |
16.36% |
4.51% |
4.25% |
1.72% |
3.70% |
| Common Equity to Total Capital |
|
75.27% |
72.81% |
79.18% |
72.97% |
76.94% |
78.47% |
79.54% |
71.86% |
75.12% |
73.07% |
| Debt to EBITDA |
|
0.71 |
0.54 |
0.47 |
0.39 |
0.27 |
0.17 |
0.56 |
0.95 |
0.84 |
0.91 |
| Net Debt to EBITDA |
|
0.15 |
0.24 |
-0.41 |
-0.06 |
-0.40 |
-0.51 |
-0.03 |
0.03 |
-0.09 |
-0.41 |
| Long-Term Debt to EBITDA |
|
0.63 |
0.46 |
0.00 |
0.00 |
0.00 |
0.00 |
0.56 |
0.95 |
0.84 |
0.91 |
| Debt to NOPAT |
|
1.24 |
0.88 |
0.59 |
0.54 |
0.38 |
0.24 |
0.84 |
1.35 |
1.21 |
1.37 |
| Net Debt to NOPAT |
|
0.25 |
0.40 |
-0.51 |
-0.09 |
-0.57 |
-0.72 |
-0.04 |
0.04 |
-0.12 |
-0.61 |
| Long-Term Debt to NOPAT |
|
1.09 |
0.76 |
0.00 |
0.00 |
0.00 |
0.00 |
0.84 |
1.35 |
1.21 |
1.37 |
| Noncontrolling Interest Sharing Ratio |
|
0.00% |
2.40% |
4.33% |
11.62% |
17.21% |
17.09% |
11.77% |
5.47% |
3.88% |
3.53% |
| Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Free Cash Flow to Firm (FCFF) |
|
156 |
274 |
143 |
35 |
85 |
219 |
313 |
203 |
240 |
257 |
| Operating Cash Flow to CapEx |
|
3,869.63% |
2,069.25% |
3,953.21% |
1,194.18% |
2,226.25% |
2,764.75% |
1,635.00% |
7,409.61% |
3,939.75% |
8,612.18% |
| 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 |
|
0.80 |
0.98 |
0.92 |
0.82 |
0.78 |
0.74 |
0.64 |
0.72 |
0.78 |
0.78 |
| Fixed Asset Turnover |
|
24.92 |
30.48 |
28.67 |
24.99 |
25.29 |
27.76 |
26.12 |
34.96 |
48.44 |
58.00 |
| Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Invested Capital |
|
874 |
818 |
961 |
1,175 |
1,353 |
1,449 |
1,401 |
1,455 |
1,502 |
1,499 |
| Invested Capital Turnover |
|
1.07 |
1.35 |
1.24 |
1.06 |
1.05 |
1.03 |
0.91 |
1.01 |
1.09 |
1.09 |
| Increase / (Decrease) in Invested Capital |
|
19 |
-56 |
143 |
213 |
179 |
96 |
-48 |
55 |
47 |
-3.11 |
| Enterprise Value (EV) |
|
2,004 |
2,158 |
2,546 |
2,193 |
2,662 |
2,466 |
3,277 |
2,985 |
2,706 |
3,236 |
| Market Capitalization |
|
1,951 |
2,039 |
2,662 |
2,033 |
2,599 |
2,456 |
3,224 |
2,913 |
2,715 |
3,337 |
| Book Value per Share |
|
$6.32 |
$5.83 |
$7.54 |
$8.53 |
$10.30 |
$11.44 |
$11.50 |
$11.75 |
$13.08 |
$13.39 |
| Tangible Book Value per Share |
|
($0.73) |
($1.34) |
$0.24 |
($2.91) |
($1.77) |
($1.46) |
($1.61) |
($1.84) |
($1.02) |
($0.46) |
| Total Capital |
|
874 |
818 |
961 |
1,175 |
1,353 |
1,449 |
1,401 |
1,455 |
1,502 |
1,499 |
| Total Debt |
|
217 |
191 |
170 |
135 |
100 |
75 |
223 |
348 |
348 |
348 |
| Total Long-Term Debt |
|
191 |
166 |
0.00 |
0.00 |
0.00 |
0.00 |
223 |
348 |
348 |
348 |
| Net Debt |
|
44 |
86 |
-146 |
-22 |
-149 |
-227 |
-9.98 |
11 |
-35 |
-156 |
| Capital Expenditures (CapEx) |
|
6.03 |
13 |
9.80 |
17 |
15 |
14 |
10 |
4.37 |
7.92 |
4.02 |
| Net Nonoperating Expense (NNE) |
|
2.84 |
-3.41 |
-8.79 |
26 |
-13 |
-21 |
-7.25 |
23 |
-18 |
-14 |
| Net Nonoperating Obligations (NNO) |
|
217 |
191 |
170 |
135 |
100 |
75 |
223 |
348 |
348 |
348 |
| Total Depreciation and Amortization (D&A) |
|
25 |
22 |
19 |
20 |
28 |
30 |
30 |
28 |
27 |
22 |
| Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Adjusted Basic Earnings per Share |
|
$1.62 |
$2.03 |
$2.87 |
$2.18 |
$2.69 |
$3.25 |
$2.77 |
$2.65 |
$3.40 |
$3.23 |
| Adjusted Weighted Average Basic Shares Outstanding |
|
103.86M |
101.71M |
100.99M |
100.80M |
101.13M |
99.06M |
92.02M |
89.28M |
84.45M |
81.31M |
| Adjusted Diluted Earnings per Share |
|
$1.62 |
$2.03 |
$2.87 |
$2.18 |
$2.69 |
$3.23 |
$2.75 |
$2.65 |
$3.40 |
$3.23 |
| Adjusted Weighted Average Diluted Shares Outstanding |
|
103.86M |
101.71M |
100.99M |
100.80M |
101.13M |
99.06M |
92.02M |
89.28M |
84.45M |
81.31M |
| Adjusted Basic & Diluted Earnings per Share |
|
$1.62 |
$2.03 |
$2.87 |
$2.18 |
$2.69 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
| Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
103.86M |
101.71M |
100.99M |
100.80M |
101.13M |
99.06M |
92.02M |
89.28M |
84.45M |
81.31M |
| Normalized Net Operating Profit after Tax (NOPAT) |
|
175 |
218 |
286 |
248 |
264 |
315 |
265 |
258 |
287 |
254 |
| Normalized NOPAT Margin |
|
18.87% |
19.08% |
25.94% |
21.83% |
19.89% |
21.75% |
20.38% |
17.84% |
17.84% |
15.58% |
| Pre Tax Income Margin |
|
29.67% |
29.82% |
31.92% |
26.08% |
27.53% |
30.80% |
28.94% |
21.18% |
25.56% |
23.38% |
| 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 |
|
60.84% |
92.76% |
34.42% |
48.11% |
40.68% |
66.66% |
40.65% |
52.82% |
45.30% |
80.49% |
| Augmented Payout Ratio |
|
92.16% |
129.67% |
50.92% |
61.26% |
46.36% |
86.52% |
124.51% |
145.82% |
103.39% |
131.76% |
Quarterly Metrics And Ratios for Federated Hermes
This table displays calculated financial ratios and metrics derived from Federated Hermes' official financial filings.
| Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
| Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Revenue Growth |
|
16.70% |
16.25% |
17.68% |
18.37% |
5.64% |
4.71% |
3.71% |
-7.07% |
1.44% |
8.48% |
6.85% |
| EBITDA Growth |
|
-2.35% |
-26.38% |
1.94% |
5.85% |
3.83% |
53.73% |
11.82% |
-55.99% |
9.24% |
6.81% |
31.65% |
| EBIT Growth |
|
-1.65% |
-28.03% |
1.45% |
6.58% |
4.80% |
60.90% |
15.75% |
-58.62% |
10.17% |
7.66% |
33.67% |
| NOPAT Growth |
|
-2.02% |
-23.83% |
3.69% |
6.18% |
1.73% |
43.91% |
8.01% |
-74.31% |
10.41% |
9.56% |
41.54% |
| Net Income Growth |
|
-8.05% |
-13.19% |
30.90% |
43.82% |
9.90% |
39.61% |
4.96% |
-73.67% |
21.65% |
-2.55% |
38.48% |
| EPS Growth |
|
6.85% |
-12.68% |
27.87% |
26.56% |
10.26% |
53.23% |
14.10% |
-75.31% |
23.26% |
13.68% |
40.45% |
| Operating Cash Flow Growth |
|
143.49% |
90.72% |
128.16% |
-27.96% |
-5.70% |
-2.10% |
158.87% |
24.64% |
10.90% |
-2.26% |
1.91% |
| Free Cash Flow Firm Growth |
|
-92.72% |
-101.92% |
149.12% |
-138.27% |
-266.08% |
1,365.92% |
-104.64% |
437.92% |
669.34% |
201.31% |
5,143.78% |
| Invested Capital Growth |
|
4.48% |
3.89% |
-0.67% |
8.42% |
6.67% |
3.22% |
4.99% |
-9.36% |
-2.21% |
-0.21% |
-4.91% |
| Revenue Q/Q Growth |
|
4.14% |
-1.90% |
2.22% |
13.36% |
-7.06% |
-2.77% |
1.25% |
1.57% |
1.46% |
3.97% |
-0.27% |
| EBITDA Q/Q Growth |
|
4.31% |
-31.79% |
31.93% |
12.77% |
2.31% |
1.00% |
-4.04% |
-55.62% |
153.95% |
-1.25% |
18.28% |
| EBIT Q/Q Growth |
|
4.83% |
-34.13% |
33.60% |
15.53% |
3.08% |
1.13% |
-3.89% |
-58.70% |
174.44% |
-1.18% |
19.33% |
| NOPAT Q/Q Growth |
|
8.95% |
-28.68% |
25.89% |
8.54% |
4.39% |
0.89% |
-5.51% |
-74.19% |
348.68% |
0.11% |
22.06% |
| Net Income Q/Q Growth |
|
33.13% |
-8.79% |
15.95% |
2.15% |
1.73% |
15.86% |
-12.83% |
-74.37% |
369.91% |
-7.18% |
23.88% |
| EPS Q/Q Growth |
|
21.88% |
-20.51% |
25.81% |
3.85% |
6.17% |
10.47% |
-6.32% |
-77.53% |
430.00% |
1.89% |
15.74% |
| Operating Cash Flow Q/Q Growth |
|
13.42% |
18.21% |
-95.91% |
1,212.62% |
48.48% |
22.72% |
-89.18% |
531.99% |
32.11% |
8.15% |
-88.71% |
| Free Cash Flow Firm Q/Q Growth |
|
-90.25% |
-118.31% |
3,481.35% |
-163.39% |
57.68% |
239.56% |
-112.40% |
4,713.78% |
-28.70% |
-26.14% |
107.58% |
| Invested Capital Q/Q Growth |
|
0.24% |
2.22% |
2.66% |
3.06% |
-1.37% |
-1.09% |
4.43% |
-11.03% |
6.41% |
0.93% |
-0.49% |
| Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| EBITDA Margin |
|
27.17% |
18.89% |
24.38% |
24.26% |
26.70% |
27.74% |
26.29% |
11.49% |
28.76% |
27.31% |
32.39% |
| EBIT Margin |
|
25.39% |
17.05% |
22.28% |
22.71% |
25.19% |
26.20% |
24.87% |
10.11% |
27.36% |
26.00% |
31.11% |
| Profit (Net Income) Margin |
|
17.73% |
16.48% |
18.70% |
16.85% |
18.44% |
21.98% |
18.92% |
4.78% |
22.12% |
19.75% |
24.53% |
| Tax Burden Percent |
|
75.74% |
82.01% |
77.28% |
72.61% |
73.53% |
73.35% |
72.11% |
45.07% |
73.69% |
74.65% |
76.36% |
| Interest Burden Percent |
|
92.18% |
117.89% |
108.58% |
102.19% |
99.59% |
114.37% |
105.52% |
104.76% |
109.72% |
101.73% |
103.24% |
| Effective Tax Rate |
|
24.26% |
17.99% |
22.72% |
27.39% |
26.47% |
26.65% |
27.89% |
54.93% |
26.31% |
25.35% |
23.64% |
| Return on Invested Capital (ROIC) |
|
19.24% |
14.16% |
17.27% |
17.50% |
20.04% |
20.92% |
19.02% |
4.95% |
21.46% |
21.11% |
25.76% |
| ROIC Less NNEP Spread (ROIC-NNEP) |
|
16.95% |
17.44% |
18.79% |
17.92% |
19.96% |
24.03% |
20.15% |
5.20% |
23.76% |
21.52% |
26.70% |
| Return on Net Nonoperating Assets (RNNOA) |
|
3.70% |
4.36% |
6.21% |
6.03% |
6.77% |
7.39% |
5.92% |
1.62% |
7.17% |
6.50% |
7.86% |
| Return on Equity (ROE) |
|
22.94% |
18.52% |
23.49% |
23.53% |
26.82% |
28.31% |
24.94% |
6.56% |
28.63% |
27.61% |
33.63% |
| Cash Return on Invested Capital (CROIC) |
|
15.24% |
14.25% |
18.04% |
9.73% |
11.55% |
16.25% |
14.22% |
26.13% |
18.71% |
17.15% |
23.57% |
| Operating Return on Assets (OROA) |
|
18.06% |
12.21% |
16.68% |
17.78% |
19.79% |
20.46% |
19.77% |
8.11% |
21.24% |
20.27% |
25.25% |
| Return on Assets (ROA) |
|
12.61% |
11.80% |
13.99% |
13.19% |
14.49% |
17.16% |
15.04% |
3.83% |
17.18% |
15.40% |
19.90% |
| Return on Common Equity (ROCE) |
|
21.84% |
17.50% |
22.57% |
22.33% |
25.29% |
27.21% |
23.75% |
6.30% |
27.09% |
26.64% |
31.63% |
| Return on Equity Simple (ROE_SIMPLE) |
|
25.11% |
0.00% |
22.72% |
24.14% |
25.49% |
0.00% |
26.87% |
25.03% |
24.98% |
0.00% |
27.63% |
| Net Operating Profit after Tax (NOPAT) |
|
73 |
52 |
66 |
71 |
75 |
75 |
71 |
18 |
82 |
82 |
101 |
| NOPAT Margin |
|
19.23% |
13.98% |
17.22% |
16.49% |
18.52% |
19.22% |
17.94% |
4.56% |
20.16% |
19.41% |
23.76% |
| Net Nonoperating Expense Percent (NNEP) |
|
2.29% |
-3.28% |
-1.52% |
-0.42% |
0.08% |
-3.11% |
-1.13% |
-0.25% |
-2.30% |
-0.41% |
-0.94% |
| SG&A Expenses to Revenue |
|
43.68% |
44.48% |
46.39% |
46.70% |
44.42% |
44.09% |
44.38% |
43.26% |
43.86% |
43.13% |
43.82% |
| Operating Expenses to Revenue |
|
74.61% |
82.95% |
77.72% |
77.29% |
74.81% |
73.80% |
75.13% |
89.89% |
72.64% |
74.00% |
68.89% |
| Earnings before Interest and Taxes (EBIT) |
|
97 |
64 |
85 |
98 |
101 |
103 |
99 |
41 |
112 |
110 |
132 |
| Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
104 |
71 |
93 |
105 |
108 |
109 |
104 |
46 |
117 |
116 |
137 |
| Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Price to Book Value (P/BV) |
|
2.76 |
2.79 |
2.98 |
2.63 |
2.54 |
2.41 |
2.58 |
2.69 |
2.80 |
3.05 |
3.08 |
| Price to Tangible Book Value (P/TBV) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Price to Revenue (P/Rev) |
|
1.92 |
2.01 |
2.20 |
1.90 |
1.76 |
1.69 |
1.83 |
1.72 |
1.90 |
2.04 |
2.00 |
| Price to Earnings (P/E) |
|
10.66 |
12.16 |
13.04 |
11.12 |
10.24 |
9.08 |
9.74 |
10.82 |
11.43 |
12.44 |
11.26 |
| Dividend Yield |
|
3.59% |
3.30% |
2.92% |
3.28% |
3.47% |
3.53% |
3.26% |
6.60% |
5.93% |
5.42% |
5.49% |
| Earnings Yield |
|
9.38% |
8.22% |
7.67% |
8.99% |
9.76% |
11.01% |
10.27% |
9.24% |
8.75% |
8.04% |
8.88% |
| Enterprise Value to Invested Capital (EV/IC) |
|
1.99 |
2.05 |
2.25 |
1.98 |
1.87 |
1.80 |
1.93 |
2.01 |
2.06 |
2.16 |
2.24 |
| Enterprise Value to Revenue (EV/Rev) |
|
2.03 |
2.06 |
2.24 |
1.94 |
1.78 |
1.68 |
1.86 |
1.76 |
1.92 |
1.98 |
2.01 |
| Enterprise Value to EBITDA (EV/EBITDA) |
|
7.25 |
8.18 |
9.18 |
8.17 |
7.55 |
6.53 |
7.11 |
7.67 |
8.14 |
8.43 |
8.02 |
| Enterprise Value to EBIT (EV/EBIT) |
|
7.82 |
8.86 |
9.96 |
8.84 |
8.15 |
6.98 |
7.55 |
8.19 |
8.66 |
8.95 |
8.47 |
| Enterprise Value to NOPAT (EV/NOPAT) |
|
10.35 |
11.57 |
12.93 |
11.54 |
10.73 |
9.42 |
10.35 |
11.74 |
12.38 |
12.73 |
11.78 |
| Enterprise Value to Operating Cash Flow (EV/OCF) |
|
10.84 |
9.22 |
9.65 |
9.48 |
9.03 |
8.68 |
9.44 |
8.32 |
8.77 |
9.34 |
9.64 |
| Enterprise Value to Free Cash Flow (EV/FCFF) |
|
13.33 |
14.67 |
12.45 |
21.13 |
16.72 |
11.26 |
13.90 |
7.33 |
10.90 |
12.57 |
9.27 |
| Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Debt to Equity |
|
0.39 |
0.31 |
0.30 |
0.29 |
0.30 |
0.30 |
0.29 |
0.33 |
0.31 |
0.30 |
0.30 |
| Long-Term Debt to Equity |
|
0.39 |
0.31 |
0.30 |
0.29 |
0.30 |
0.30 |
0.29 |
0.33 |
0.31 |
0.30 |
0.30 |
| Financial Leverage |
|
0.22 |
0.25 |
0.33 |
0.34 |
0.34 |
0.31 |
0.29 |
0.31 |
0.30 |
0.30 |
0.29 |
| Leverage Ratio |
|
1.71 |
1.77 |
1.78 |
1.81 |
1.85 |
1.82 |
1.73 |
1.77 |
1.78 |
1.82 |
1.73 |
| Compound Leverage Factor |
|
1.58 |
2.08 |
1.94 |
1.85 |
1.84 |
2.08 |
1.82 |
1.86 |
1.96 |
1.85 |
1.79 |
| Debt to Total Capital |
|
27.92% |
23.89% |
23.27% |
22.58% |
22.90% |
23.16% |
22.18% |
24.94% |
23.44% |
23.23% |
23.34% |
| Short-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% |
0.00% |
| Long-Term Debt to Total Capital |
|
27.92% |
23.89% |
23.27% |
22.58% |
22.90% |
23.16% |
22.18% |
24.94% |
23.44% |
23.23% |
23.34% |
| 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% |
0.00% |
| Noncontrolling Interests to Total Capital |
|
3.83% |
4.25% |
2.64% |
3.77% |
4.65% |
1.72% |
4.66% |
2.19% |
3.60% |
3.70% |
4.50% |
| Common Equity to Total Capital |
|
68.24% |
71.86% |
74.08% |
73.65% |
72.45% |
75.12% |
73.16% |
72.88% |
72.97% |
73.07% |
72.15% |
| Debt to EBITDA |
|
1.02 |
0.95 |
0.95 |
0.93 |
0.92 |
0.84 |
0.82 |
0.95 |
0.92 |
0.91 |
0.84 |
| Net Debt to EBITDA |
|
0.24 |
0.03 |
0.06 |
0.01 |
-0.08 |
-0.09 |
-0.03 |
0.11 |
-0.07 |
-0.41 |
-0.09 |
| Long-Term Debt to EBITDA |
|
1.02 |
0.95 |
0.95 |
0.93 |
0.92 |
0.84 |
0.82 |
0.95 |
0.92 |
0.91 |
0.84 |
| Debt to NOPAT |
|
1.45 |
1.35 |
1.34 |
1.32 |
1.31 |
1.21 |
1.19 |
1.45 |
1.41 |
1.37 |
1.23 |
| Net Debt to NOPAT |
|
0.34 |
0.04 |
0.09 |
0.02 |
-0.11 |
-0.12 |
-0.04 |
0.17 |
-0.11 |
-0.61 |
-0.14 |
| Long-Term Debt to NOPAT |
|
1.45 |
1.35 |
1.34 |
1.32 |
1.31 |
1.21 |
1.19 |
1.45 |
1.41 |
1.37 |
1.23 |
| Noncontrolling Interest Sharing Ratio |
|
4.81% |
5.47% |
3.91% |
5.09% |
5.70% |
3.88% |
4.76% |
3.95% |
5.38% |
3.53% |
5.94% |
| Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Free Cash Flow to Firm (FCFF) |
|
12 |
-2.24 |
76 |
-48 |
-20 |
28 |
-3.52 |
162 |
116 |
86 |
178 |
| Operating Cash Flow to CapEx |
|
9,296.18% |
47,630.58% |
733.42% |
2,384.98% |
5,076.17% |
6,137.88% |
2,465.91% |
1,483.34% |
0.00% |
25,089.11% |
1,471.09% |
| 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 |
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 |
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 |
0.00 |
| Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Asset Turnover |
|
0.71 |
0.72 |
0.75 |
0.78 |
0.79 |
0.78 |
0.79 |
0.80 |
0.78 |
0.78 |
0.81 |
| Fixed Asset Turnover |
|
31.91 |
34.96 |
39.00 |
43.00 |
45.92 |
48.44 |
53.13 |
50.07 |
54.24 |
58.00 |
62.49 |
| Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Invested Capital |
|
1,424 |
1,455 |
1,494 |
1,540 |
1,518 |
1,502 |
1,568 |
1,395 |
1,485 |
1,499 |
1,492 |
| Invested Capital Turnover |
|
1.00 |
1.01 |
1.00 |
1.06 |
1.08 |
1.09 |
1.06 |
1.09 |
1.06 |
1.09 |
1.08 |
| Increase / (Decrease) in Invested Capital |
|
61 |
55 |
-10 |
120 |
95 |
47 |
75 |
-144 |
-33 |
-3.11 |
-77 |
| Enterprise Value (EV) |
|
2,829 |
2,985 |
3,366 |
3,042 |
2,841 |
2,706 |
3,026 |
2,812 |
3,064 |
3,236 |
3,343 |
| Market Capitalization |
|
2,682 |
2,913 |
3,303 |
2,979 |
2,799 |
2,715 |
2,965 |
2,741 |
3,037 |
3,337 |
3,315 |
| Book Value per Share |
|
$10.90 |
$11.75 |
$12.40 |
$12.67 |
$12.46 |
$13.08 |
$13.63 |
$12.08 |
$13.12 |
$13.39 |
$13.23 |
| Tangible Book Value per Share |
|
($2.36) |
($1.84) |
($1.20) |
($0.98) |
($1.17) |
($1.02) |
($0.74) |
($1.48) |
($0.88) |
($0.46) |
($0.77) |
| Total Capital |
|
1,424 |
1,455 |
1,494 |
1,540 |
1,518 |
1,502 |
1,568 |
1,395 |
1,485 |
1,499 |
1,492 |
| Total Debt |
|
398 |
348 |
348 |
348 |
348 |
348 |
348 |
348 |
348 |
348 |
348 |
| Total Long-Term Debt |
|
398 |
348 |
348 |
348 |
348 |
348 |
348 |
348 |
348 |
348 |
348 |
| Net Debt |
|
93 |
11 |
24 |
4.95 |
-29 |
-35 |
-12 |
41 |
-27 |
-156 |
-39 |
| Capital Expenditures (CapEx) |
|
1.21 |
0.28 |
0.74 |
2.98 |
2.08 |
2.11 |
0.57 |
5.98 |
-3.03 |
0.51 |
0.97 |
| Net Nonoperating Expense (NNE) |
|
5.73 |
-9.35 |
-5.65 |
-1.57 |
0.31 |
-11 |
-3.92 |
-0.87 |
-8.00 |
-1.42 |
-3.26 |
| Net Nonoperating Obligations (NNO) |
|
398 |
348 |
348 |
348 |
348 |
348 |
348 |
348 |
348 |
348 |
348 |
| Total Depreciation and Amortization (D&A) |
|
6.77 |
6.89 |
8.02 |
6.70 |
6.09 |
6.02 |
5.63 |
5.53 |
5.71 |
5.56 |
5.42 |
| Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Adjusted Basic Earnings per Share |
|
$0.78 |
$0.62 |
$0.78 |
$0.81 |
$0.86 |
$0.95 |
$0.89 |
$0.20 |
$1.06 |
$1.08 |
$1.25 |
| Adjusted Weighted Average Basic Shares Outstanding |
|
89.00M |
89.28M |
89.52M |
88.30M |
86.25M |
84.45M |
84.16M |
82.60M |
81.81M |
81.31M |
79.10M |
| Adjusted Diluted Earnings per Share |
|
$0.78 |
$0.62 |
$0.78 |
$0.81 |
$0.86 |
$0.95 |
$0.89 |
$0.20 |
$1.06 |
$1.08 |
$1.25 |
| Adjusted Weighted Average Diluted Shares Outstanding |
|
89.00M |
89.28M |
89.52M |
88.30M |
86.25M |
84.45M |
84.16M |
82.60M |
81.81M |
81.31M |
79.10M |
| 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 |
$0.00 |
| Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
89.00M |
89.28M |
89.52M |
88.30M |
86.25M |
84.45M |
84.16M |
82.60M |
81.81M |
81.31M |
79.10M |
| Normalized Net Operating Profit after Tax (NOPAT) |
|
73 |
52 |
66 |
71 |
75 |
75 |
71 |
29 |
82 |
82 |
101 |
| Normalized NOPAT Margin |
|
19.23% |
13.98% |
17.22% |
16.49% |
18.52% |
19.22% |
17.94% |
7.08% |
20.16% |
19.41% |
23.76% |
| Pre Tax Income Margin |
|
23.41% |
20.10% |
24.20% |
23.21% |
25.08% |
29.96% |
26.24% |
10.60% |
30.02% |
26.45% |
32.12% |
| 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 |
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 |
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 |
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 |
0.00 |
| Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Dividend Payout Ratio |
|
50.38% |
52.82% |
48.51% |
49.57% |
47.96% |
45.30% |
44.70% |
83.67% |
77.42% |
80.49% |
74.87% |
| Augmented Payout Ratio |
|
192.69% |
145.82% |
92.80% |
72.02% |
90.39% |
103.39% |
112.66% |
167.90% |
143.65% |
131.76% |
148.44% |
Key Financial Trends
Federated Hermes (NYSE: FHI) has demonstrated steady financial performance over the past several quarters, showing growth in net income and maintaining substantial assets and equity.
Key Positive Highlights:
- Q1 2025 net income attributable to common shareholders increased to $101.13 million from $84.72 million in Q4 2024, reflecting strengthening profitability.
- Earnings per share (basic and diluted) rose to $1.25 in Q1 2025 from $1.08 in Q4 2024, indicating better earnings on a per-share basis.
- Total revenue has shown a steady quarterly increase, reaching $423.54 million in Q1 2025 up from $424.68 million in Q4 2024 (stable but improved operating efficiency compared to expense).
- Operating cash flow remained positive in Q1 2025 at approximately $14.3 million, highlighting ability to generate cash from core operations despite a challenging working capital environment.
- Federated Hermes continued share repurchases in Q1 2025 with $120.1 million spent, indicating management's confidence in the company's valuation and returning capital to shareholders.
- Cash and cash equivalents increased slightly from $374.95 million in Q3 2024 to $387.57 million in Q1 2025, maintaining solid liquidity.
- Total equity stands robust at approximately $1.08 billion at the end of Q1 2025, supporting a strong financial structure.
- Nonoperating income was positive $4.27 million in Q1 2025, contributing to pre-tax income, compared to $1.91 million in Q4 2024.
- Net income trend over the past year has generally increased from approximately $71.5 million in Q1 2023 to over $100 million in Q1 2025, demonstrating earnings growth.
Neutral Factors:
- Salaries and employee benefits expense increased to $143.3 million in Q1 2025 from $137.2 million in Q4 2024, reflecting either wage inflation or growth in workforce but consistent with revenue increase.
- Marketing expense declined from $11.8 million in Q4 2024 to $8.1 million in Q1 2025, suggesting cost controls but potential impact on growth pipelines.
- Total assets remained relatively stable above $2 billion from Q3 2024 through Q1 2025, showing consistent asset base but limited growth.
- Basic and diluted shares outstanding have decreased over recent quarters, contributing to EPS growth but indicating ongoing share buybacks.
Key Negative Points:
- Working capital changes negatively impacted operating cash flow in Q1 2025 by about $90.5 million, a significant headwind to cash generation compared to positive $43.8 million in Q4 2024.
- Total non-interest expense increased to $291.8 million in Q1 2025 from $314.3 million in Q4 2024, squeezing operating margins despite slightly higher revenue.
- Repurchase of common equity surged in Q1 2025 to $120.1 million from $23.4 million in Q4 2024, raising questions on balance sheet leverage and capital allocation if overdone.
- Net change in cash & equivalents was a decline of approximately $119.5 million in Q1 2025 compared to an increase of $128.9 million in Q4 2024, raising concerns about cash flow volatility.
- Other operating expenses rose from $131.1 million in Q4 2024 to $106.2 million in Q1 2025, a decrease but still a sizable portion of costs that may need monitoring for efficiency gains.
- Long-term debt remains high around $348 million in Q1 2025, consistent with previous quarters, though manageable given equity levels, it limits financial flexibility.
Summary: Federated Hermes shows growth in earnings and strong equity position, supported by effective share repurchase programs and solid liquidity. However, operating cash flow is experiencing some strain due to working capital dynamics and large equity repurchases, which merit attention. Investors should watch expense management and cash flow stability going forward to confirm the sustainability of the company’s earnings momentum.
10/24/25 06:20 PM ETAI Generated. May Contain Errors.