Cohen & Steers Inc Financials
Cohen & Steers Inc (CNS) reported $556.1M in revenue for fiscal year 2025, up 7.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
High-margin, asset-light earnings are intact, but cash conversion broke sharply in FY2025 despite continued reported profit.
Net income stayed positive at$153.2M in the latest year, but operating cash flow fell to-$120.4M , a clear break from earlier periods when profit was translating into cash. Because capex was modest, the free-cash-flow deficit points to the income-to-cash bridge rather than heavy reinvestment, meaning the shortfall came from operations instead of building out the asset base.
Revenue recovery did not restore earlier economics: sales reached
Solvency pressure looks limited, with liabilities of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Cohen & Steers Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Cohen & Steers Inc has an operating margin of 32.0%, meaning the company retains $32 of operating profit per $100 of revenue. This strong profitability earns a score of 93/100, reflecting efficient cost management and pricing power. This is down from 33.4% the prior year.
Cohen & Steers Inc's revenue grew 7.5% year-over-year to $556.1M, a solid pace of expansion. This earns a growth score of 56/100.
Cohen & Steers Inc has a moderate D/E ratio of 0.43. This balance of debt and equity financing earns a leverage score of 62/100.
Not available for Cohen & Steers Inc, and counted as zero in the overall score.
Cohen & Steers Inc's operations used $120.4M of cash, and capex of $6.0M added to the outflow, for a free cash flow shortfall of $126.4M. This results in a cash flow score of 25/100.
Not available for Cohen & Steers Inc, and counted as zero in the overall score.
Cohen & Steers Inc passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Cohen & Steers Inc used $0.79 of operating cash (-$120.4M OCF vs $153.2M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Cohen & Steers Inc generated $556.1M in revenue in fiscal year 2025. This represents an increase of 7.5% from the prior year.
Cohen & Steers Inc's EBITDA was $187.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 2.9% from the prior year.
Cohen & Steers Inc reported $153.2M in net income in fiscal year 2025. This represents an increase of 1.3% from the prior year.
Cohen & Steers Inc earned $2.97 per diluted share (EPS) in fiscal year 2025. That is unchanged from the prior year.
Cash & Balance Sheet
Cohen & Steers Inc recorded an outflow of $126.4M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 248.7% from the prior year.
Cohen & Steers Inc held $145.5M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Cohen & Steers Inc paid $2.48 per share in dividends in fiscal year 2025. This represents an increase of 5.1% from the prior year.
Margins & Returns
Cohen & Steers Inc's operating margin was 32.0% in fiscal year 2025, reflecting core business profitability. This is down 1.5 percentage points from the prior year.
Cohen & Steers Inc's net profit margin was 27.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.7 percentage points from the prior year.
Cohen & Steers Inc's ROE was 27.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.3 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Cohen & Steers Inc spent $28.4M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 34.6% from the prior year.
Cohen & Steers Inc invested $6.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 48.7% from the prior year.
Not reported for fiscal year 2025.
CNS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $583.9M | $556.1M+7.5% | $517.4M+5.7% | $489.6M-13.6% | $566.9M-2.9% | $583.8M+36.6% | $427.5M+4.1% | $410.8M+7.8% | $381.1M+0.6% | $378.7M+8.2% | $349.9M+6.5% | $328.7M+4.7% | $313.9M+5.4% | $297.7M+8.8% | $273.6M+15.3% | $237.2M |
| SG&A Expenses | $73.8M | $71.2M+18.5% | $60.1M-9.8% | $66.7M+21.7% | $54.8M+14.1% | $48.0M-14.7% | $56.3M+18.2% | $47.6M-1.3% | $48.3M+14.3% | $42.2M-1.8% | $43.0M-15.5% | $50.9M+7.4% | $47.3M+1.1% | $46.8M+18.7% | $39.4M+12.0% | $35.2M |
| Operating Income | $192.1M | $177.7M+2.8% | $172.9M+5.1% | $164.5M-23.8% | $215.9M-17.1% | $260.4M+173.9% | $95.1M-40.6% | $160.1M+8.9% | $147.0M-5.0% | $154.7M+14.2% | $135.5M+6.2% | $127.5M+4.6% | $121.9M+14.7% | $106.3M+10.3% | $96.4M+10.8% | $87.0M |
| Income Tax | N/A | N/A | $46.7M+7.1% | $43.6M-7.9% | $47.4M-15.0% | $55.8M+206.2% | $18.2M-55.1% | $40.6M+18.4% | $34.3M-49.6% | $67.9M+34.2% | $50.6M+4.5% | $48.4M+4.6% | $46.3M+12.6% | $41.1M+12.9% | $36.4M+11.7% | $32.6M |
| Net Income | $168.3M | $153.2M+1.3% | $151.3M+17.2% | $129.0M-24.6% | $171.0M-19.1% | $211.4M+176.0% | $76.6M-43.1% | $134.6M+18.2% | $113.9M+23.9% | $91.9M-1.1% | $92.9M+44.0% | $64.6M-14.5% | $75.5M+10.9% | $68.1M+3.0% | $66.1M+21.7% | $54.3M |
| EPS (Diluted) | — | $2.970.0% | $2.97+14.2% | $2.60-25.1% | $3.47-19.5% | $4.31+174.5% | $1.57-43.7% | $2.79+16.3% | $2.40+22.4% | $1.96-2.0% | $2.00+41.8% | $1.41-14.5% | $1.65+9.3% | $1.51+1.3% | $1.49+21.1% | $1.23 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Interest Expense.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
CNS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $876.7M+7.9% | $812.4M+10.3% | $736.6M+9.4% | $673.4M+36.7% | $492.7M+41.4% | $348.5M-13.4% | $402.4M-16.3% | $481.0M+17.3% | $410.1M+22.9% | $333.7M+9.3% | $305.3M+8.8% | $280.7M+2.1% | $274.9M-18.5% | $337.3M+17.8% | $286.2M |
| Cash & Equivalents | $145.5M-20.5% | $183.0M-2.4% | $187.4M-24.2% | $247.4M+34.2% | $184.4M+347.2% | $41.2M-59.3% | $101.4M+9.3% | $92.7M-52.1% | $193.5M+5.6% | $183.2M+28.4% | $142.7M+14.2% | $124.9M-31.8% | $183.2M+92.0% | $95.4M-25.4% | $127.8M |
| Accounts Receivable | N/A | $74.4M | N/A | N/A | N/A | N/A | $59.1M+17.3% | $50.4M-6.4% | $53.9M+16.3% | $46.3M+3.9% | $44.6M+2.7% | $43.4M+6.1% | $40.9M-7.9% | $44.4M+12.1% | $39.6M |
| Goodwill | $18.8M+7.3% | $17.5M-3.5% | $18.1M+1.9% | $17.8M-3.5% | $18.4M-4.2% | $19.2M+5.1% | $18.3M-1.0% | $18.5M-2.8% | $19.0M+7.6% | $17.7M-1.6% | $18.0M-6.0% | $19.1M-7.5% | $20.7M+2.7% | $20.1M+0.9% | $19.9M |
| Total Liabilities | $242.8M+2.3% | $237.5M-2.6% | $243.9M-1.0% | $246.4M+66.1% | $148.4M+20.1% | $123.5M-8.7% | $135.3M-47.6% | $258.4M+197.7% | $86.8M+29.4% | $67.1M+7.8% | $62.2M+19.3% | $52.1M+1.9% | $51.2M-24.3% | $67.5M+32.6% | $50.9M |
| Total Equity | $562.0M+9.8% | $511.7M+34.2% | $381.2M+12.9% | $337.6M+32.3% | $255.2M+46.5% | $174.2M-18.5% | $213.7M-4.0% | $222.6M-19.2% | $275.5M+3.7% | $265.8M+14.7% | $231.8M+1.7% | $228.0M+2.0% | $223.6M+3.2% | $216.6M-6.0% | $230.5M |
| Retained Earnings | -$105.8M+18.2% | -$129.3M+18.2% | -$158.2M+7.7% | -$171.4M+26.1% | -$232.0M+20.4% | -$291.5M-20.2% | -$242.5M-16.3% | -$208.4M-51.0% | -$138.0M-7.8% | -$128.0M+13.6% | -$148.1M-3.7% | -$142.8M-8.7% | -$131.4M-11.4% | -$117.9M-41.9% | -$83.1M |
Not reported in any period shown, so not listed: Current Assets, Inventory, Current Liabilities, Long-Term Debt.
CNS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $72.2M | -$120.4M-224.6% | $96.7M-43.8% | $172.0M+178.8% | $61.7M-74.6% | $242.9M+172.4% | $89.2M-36.9% | $141.4M+94.8% | $72.6M+13.0% | $64.3M-44.1% | $115.0M+28.0% | $89.8M+64.5% | $54.6M-28.1% | $75.9M+273.0% | $20.3M-71.9% | $72.4M |
| Capital Expenditures | N/A | $6.0M-48.7% | $11.7M-79.6% | $57.0M+1249.4% | $4.2M+56.7% | $2.7M+7.7% | $2.5M-9.1% | $2.8M-20.7% | $3.5M+7.0% | $3.2M-68.2% | $10.2M+319.6% | $2.4M-59.0% | $5.9M-5.0% | $6.2M+85.4% | $3.4M+14.8% | $2.9M |
| Free Cash Flow | N/A | -$126.4M-248.7% | $85.0M-26.0% | $115.0M+100.1% | $57.5M-76.1% | $240.2M+177.1% | $86.7M-37.5% | $138.7M+100.6% | $69.1M+13.3% | $61.0M-41.8% | $104.8M+19.9% | $87.4M+79.5% | $48.7M-30.1% | $69.6M+310.1% | $17.0M-75.6% | $69.5M |
| Investing Cash Flow | -$56.0M | $8.4M+107.0% | -$119.7M-4.3% | -$114.8M-3917.4% | -$2.9M-106.0% | $47.6M+2792.0% | -$1.8M-104.9% | $35.9M+167.6% | -$53.2M-1031.8% | $5.7M+97.0% | $2.9M+630.0% | $397K-96.0% | $9.8M-45.4% | $18.0M+634.4% | $2.5M+180.8% | -$3.0M |
| Financing Cash Flow | -$50.0M | $73.8M+306.4% | $18.2M+115.3% | -$119.1M-1426.5% | $9.0M+106.2% | -$145.4M+2.3% | -$148.9M+12.5% | -$170.1M-44.0% | -$118.1M-95.5% | -$60.4M+18.9% | -$74.5M-4.8% | -$71.1M-8.4% | -$65.6M-6.3% | -$61.8M-11.0% | -$55.7M+28.2% | -$77.5M |
| Dividends Paid | $132.6M | $126.9M+6.5% | $119.2M+6.0% | $112.4M+4.7% | $107.4M-27.2% | $147.6M+20.5% | $122.5M-24.7% | $162.7M-9.0% | $178.9M+81.9% | $98.3M+38.8% | $70.8M+3.9% | $68.2M-19.1% | $84.2M+5.7% | $79.7M-18.0% | $97.2M+40.6% | $69.1M |
| Share Buybacks | $19.1M | $28.4M+34.6% | $21.1M-2.0% | $21.5M-19.7% | $26.8M+18.7% | $22.6M-12.9% | $25.9M+149.2% | $10.4M-1.8% | $10.6M+16.0% | $9.1M+13.7% | $8.0M-58.2% | $19.2M+64.1% | $11.7M+47.2% | $8.0M-6.2% | $8.5M+27.6% | $6.6M |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
CNS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 32.0%-1.5pp | 33.4%-0.2pp | 33.6%-4.5pp | 38.1%-6.5pp | 44.6%+22.4pp | 22.2%-16.8pp | 39.0%+0.4pp | 38.6%-2.3pp | 40.9%+2.1pp | 38.7%-0.1pp | 38.8%0.0pp | 38.8%+3.1pp | 35.7%+0.5pp | 35.3%-1.4pp | 36.7% |
| Net Margin | 27.6%-1.7pp | 29.2%+2.9pp | 26.4%-3.8pp | 30.2%-6.0pp | 36.2%+18.3pp | 17.9%-14.9pp | 32.8%+2.9pp | 29.9%+5.6pp | 24.3%-2.3pp | 26.6%+6.9pp | 19.6%-4.4pp | 24.1%+1.2pp | 22.9%-1.3pp | 24.2%+1.3pp | 22.9% |
| Return on Equity | 27.3%-2.3pp | 29.6%-4.3pp | 33.9%-16.8pp | 50.7%-32.2pp | 82.8%+38.9pp | 44.0%-19.0pp | 63.0%+11.8pp | 51.2%+17.8pp | 33.4%-1.6pp | 35.0%+7.1pp | 27.9%-5.3pp | 33.1%+2.6pp | 30.5%-0.1pp | 30.5%+7.0pp | 23.6% |
| Return on Assets | 17.5%-1.1pp | 18.6%+1.1pp | 17.5%-7.9pp | 25.4%-17.5pp | 42.9%+20.9pp | 22.0%-11.5pp | 33.5%+9.8pp | 23.7%+1.3pp | 22.4%-5.4pp | 27.9%+6.7pp | 21.1%-5.8pp | 26.9%+2.1pp | 24.8%+5.2pp | 19.6%+0.6pp | 19.0% |
| Debt-to-Equity | 0.430.0x | 0.46-0.2x | 0.64-0.1x | 0.73+0.1x | 0.58-0.1x | 0.71+0.1x | 0.63-0.5x | 1.16+0.8x | 0.32+0.1x | 0.250.0x | 0.270.0x | 0.230.0x | 0.23-0.1x | 0.31+0.1x | 0.22 |
| FCF Margin | -22.7%-39.2pp | 16.4%-7.0pp | 23.5%+13.3pp | 10.1%-31.0pp | 41.1%+20.9pp | 20.3%-13.5pp | 33.8%+15.6pp | 18.1%+2.0pp | 16.1%-13.8pp | 29.9%+3.4pp | 26.6%+11.1pp | 15.5%-7.9pp | 23.4%+17.2pp | 6.2%-23.1pp | 29.3% |
Not reported in any period shown, so not listed: Gross Margin, Current Ratio.
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Where Cohen & Steers Inc Ranks
Frequently Asked Questions
What is Cohen & Steers Inc's annual revenue?
Cohen & Steers Inc (CNS) reported $556.1M in total revenue for fiscal year 2025. This represents a 7.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Cohen & Steers Inc's revenue growing?
Cohen & Steers Inc (CNS) revenue grew by 7.5% year-over-year, from $517.4M to $556.1M in fiscal year 2025.
Is Cohen & Steers Inc profitable?
Yes, Cohen & Steers Inc (CNS) reported a net income of $153.2M in fiscal year 2025, with a net profit margin of 27.6%.
What is Cohen & Steers Inc's EBITDA?
Cohen & Steers Inc (CNS) had EBITDA of $187.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Cohen & Steers Inc's operating margin?
Cohen & Steers Inc (CNS) had an operating margin of 32.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cohen & Steers Inc's net profit margin?
Cohen & Steers Inc (CNS) had a net profit margin of 27.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Cohen & Steers Inc pay dividends?
Yes, Cohen & Steers Inc (CNS) paid $2.48 per share in dividends during fiscal year 2025.
What is Cohen & Steers Inc's return on equity (ROE)?
Cohen & Steers Inc (CNS) has a return on equity of 27.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cohen & Steers Inc's free cash flow?
Cohen & Steers Inc (CNS) recorded an outflow of $126.4M in free cash flow during fiscal year 2025. This represents a -248.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Cohen & Steers Inc's operating cash flow?
Cohen & Steers Inc (CNS) recorded an outflow of $120.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Cohen & Steers Inc's total assets?
Cohen & Steers Inc (CNS) had $876.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cohen & Steers Inc's capital expenditures?
Cohen & Steers Inc (CNS) invested $6.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Cohen & Steers Inc's debt-to-equity ratio?
Cohen & Steers Inc (CNS) had a debt-to-equity ratio of 0.43 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cohen & Steers Inc's return on assets (ROA)?
Cohen & Steers Inc (CNS) had a return on assets of 17.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cohen & Steers Inc's cash runway?
Based on fiscal year 2025 data, Cohen & Steers Inc (CNS) had $145.5M in cash against an annual operating cash burn of $120.4M. This gives an estimated cash runway of approximately 14 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Cohen & Steers Inc's Piotroski F-Score?
Cohen & Steers Inc (CNS) has a Piotroski F-Score of 1 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cohen & Steers Inc's earnings high quality?
For every $1 of reported earnings, Cohen & Steers Inc (CNS) used $0.79 of operating cash (-$120.4M OCF vs $153.2M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Cohen & Steers Inc?
Cohen & Steers Inc (CNS) scores 39 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.