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Cohen & Steers, Inc. is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries. The firm launches and manages equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries. Through its subsidiaries, it also launches and manages hedge funds. The firm invests in public equity, fixed income, and commodity markets across the globe through its subsidiaries. Through its subsidiaries, it invests in companies operating in the real estate sector, including real estate investment trusts, infrastructure sector, and natural energy resources sector for its equity and fixed income investments. The firm also invests in preferred securities for its fixed income investments through its subsidiaries. The firm is a leading global investment manager specializing in real assets and alternative income, including real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Cohen & Steers, Inc. was founded in 1986 and is based in New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $578M | $211M | $153M | $-126M | 27.3% | 7.7% | 1.3% |
| 2024 | $537M | $203M | $151M | $85M | 29.6% | 6.4% | 17.2% |
| 2023 | $504M | $184M | $129M | $115M | 33.9% | -12.1% | -24.6% |
| 2022 | $574M | $228M | $171M | $57M | 50.7% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 573.72 | 504.26 | 536.76 | 578.12 |
| Operating Revenue | - | 571.22 | 502.23 | 534.54 | 576.18 |
| Cost Of Revenue | - | 291.76 | 254.35 | 275.12 | 297.36 |
| Gross Profit | - | 281.96 | 249.90 | 261.64 | 280.76 |
| Operating Expense | - | 59.21 | 70.81 | 69.42 | 81.02 |
| Selling General And Administration | - | 54.83 | 66.70 | 60.14 | 71.23 |
| Total Expenses | - | 350.97 | 325.16 | 344.54 | 378.38 |
| Operating Income | - | 222.76 | 179.10 | 192.22 | 199.74 |
| Total Operating Income As Reported | - | 215.94 | 164.48 | 172.88 | 177.74 |
| EBITDA | - | 228.42 | 184.24 | 203.39 | 211.46 |
| Normalized EBITDA | - | 254.28 | 183.08 | 186.07 | 206.57 |
| EBIT | - | 222.76 | 179.10 | 192.22 | 199.74 |
| Interest Income | 2.88 | 6.82 | 14.62 | - | - |
| Net Interest Income | 2.88 | 6.82 | 14.62 | - | - |
| Other Income Expense | - | -25.86 | 1.16 | 17.32 | 4.88 |
| Interest Income Non Operating | 2.88 | 6.82 | 14.62 | - | - |
| Net Non Operating Interest Income Expense | 2.88 | 6.82 | 14.62 | - | - |
| Pretax Income | - | 196.90 | 180.25 | 209.54 | 204.63 |
| Tax Provision | - | 47.41 | 43.64 | 46.75 | 47.23 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -5.61 | 0.28 | 4.09 | 1.15 |
| Net Income Continuous Operations | - | 149.49 | 136.61 | 162.79 | 157.40 |
| Net Income From Continuing And Discontinued Operation | - | 171.04 | 129.05 | 151.26 | 153.22 |
| Net Income From Continuing Operation Net Minority Interest | - | 171.04 | 129.05 | 151.26 | 153.22 |
| Net Income | - | 171.04 | 129.05 | 151.26 | 153.22 |
| Net Income Common Stockholders | - | 171.04 | 129.05 | 151.26 | 153.22 |
| Net Income Including Noncontrolling Interests | - | 149.49 | 136.61 | 162.79 | 157.40 |
| Normalized Income | - | 191.29 | 128.17 | 138.03 | 149.48 |
| Diluted NI Availto Com Stockholders | - | 171.04 | 129.05 | 151.26 | 153.22 |
| Basic Average Shares | - | 48.78 | 49.31 | 50.41 | 51.17 |
| Diluted Average Shares | - | 49.30 | 49.55 | 50.94 | 51.53 |
| Reconciled Depreciation | - | 5.67 | 5.14 | 11.17 | 11.71 |
| Reconciled Cost Of Revenue | - | 290.48 | 253.31 | 273.24 | 295.43 |
| Total Unusual Items | - | -25.86 | 1.16 | 17.32 | 4.88 |
| Total Unusual Items Excluding Goodwill | - | -25.86 | 1.16 | 17.32 | 4.88 |
| Minority Interests | - | 21.56 | -7.56 | -11.53 | -4.18 |
| Gain On Sale Of Security | - | -25.86 | 1.16 | 17.32 | 4.88 |
| Depreciation Amortization Depletion Income Statement | - | 4.38 | 4.11 | 9.29 | 9.79 |
| Depreciation And Amortization In Income Statement | - | 4.38 | 4.11 | 9.29 | 9.79 |
| General And Administrative Expense | - | 54.83 | 66.70 | 60.14 | 71.23 |
| Other Gand A | - | 54.83 | 66.70 | 60.14 | 71.23 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Cohen & Steers, Inc.this co. | CNS | $3.8B | 24.67↑ premium | 6.73 | 27.3% | 17.84 |
| Cathay General Bancorp | CATY | $3.9B | 12.38 | 1.33 | 10.8% | - |
| Independent Bank Corp. | INDB | $3.8B | 18.52 | 1.07 | 5.8% | - |
| First BanCorp. | FBP | $3.8B | 10.90 | 1.91 | 17.5% | - |
| Renasant Corporation | RNST | $3.7B |
| - |
| - |
| - |
| - |
| - |
| 20.64 |
| 0.96 |
| 4.7% |
| - |
| WSFS Financial Corporation | WSFS | $3.7B | 12.89 | 1.35 | 10.5% | - |
| BancFirst Corporation | BANF | $3.7B | 15.37 | 1.99 | 13.0% | - |
| Bread Financial Holdings, Inc. | BFH | $3.7B | 7.11 | 1.11 | 15.6% | 4.25 |
| CVB Financial Corp. | CVBF | $3.6B | 17.23 | 1.57 | 9.1% | - |
| Peer Median | - | 14.13 | 1.34 | 10.6% | 4.25 | |