COHEN & STEERS, INC. CNS
Cohen & Steers, founded in 1986, is a global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore, we serve institutional and individual investors around the world.
Cohen & Steers, Inc. (CNS) was organized as a Delaware corporation on March 17, 2004. CNS is the holding company for its direct and indirect subsidiaries, including Cohen & Steers Capital Management, Inc. (CSCM), Cohen & Steers Securities, LLC (CSS), Cohen & Steers UK Limited (CSUK), Cohen & Steers Ireland Limited (CSIL), Cohen & Steers Asia Limited (CSAL), Cohen & Steers Japan Limited (CSJL) and Cohen & Steers Singapore Private Limited (CSSG). CNS and its subsidiaries are collectively referred to as the Company, we, us or our.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $556.1M | $517.4M | $489.6M | $566.9M | $583.8M | $427.5M | $410.8M | $381.1M | $378.7M | $351.5M |
| SG&A | $71.2M | $60.1M | $66.7M | $54.8M | $48.0M | $56.3M | $47.6M | $48.3M | $42.2M | $43.0M |
| Total operating expenses | $378.4M | $344.5M | $325.2M | $351.0M | $323.5M | $332.5M | $250.7M | $234.1M | $223.9M | $216.0M |
| Operating income | $177.7M | $172.9M | $164.5M | $215.9M | $260.4M | $95.1M | $160.1M | $147.0M | $154.7M | $135.5M |
| Pre-tax income | $204.6M | $209.5M | $180.3M | $196.9M | $281.9M | $93.4M | $187.5M | $143.8M | $160.4M | $143.4M |
| Income tax | — | $46.7M | $43.6M | $47.4M | $55.8M | $18.2M | $40.6M | $34.3M | $67.9M | $50.6M |
| Net income | $153.2M | $151.3M | $129.0M | $171.0M | $211.4M | $76.6M | $134.6M | $113.9M | $91.9M | $92.9M |
| EPS, basic | 2.99 | 3.00 | 2.62 | 3.51 | 4.38 | 1.60 | 2.85 | 2.43 | 1.98 | 2.02 |
| EPS, diluted | 2.97 | 2.97 | 2.60 | 3.47 | 4.31 | 1.57 | 2.79 | 2.40 | 1.96 | 2.00 |
| Shares, diluted (wtd. avg.) | $51.5M | $50.9M | $49.6M | $49.3M | $49.1M | $48.7M | $48.3M | $47.4M | $47.0M | $46.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $145.5M | $183.0M | $187.4M | $248.7M | $185.4M | $41.2M | $101.4M | $92.7M | $193.5M | $183.2M |
| Receivables | $79.8M | $74.4M | — | — | — | — | — | — | — | — |
| Property, plant and equipment | $65.1M | $68.6M | $66.3M | $8.8M | $8.9M | $10.3M | $12.5M | $14.1M | $15.0M | $16.0M |
| Goodwill | $18.8M | $17.5M | $18.1M | $17.8M | $18.4M | $19.2M | $18.3M | $18.5M | $19.0M | $17.7M |
| Other intangibles | — | — | — | — | — | — | $0 | $1.2M | $1.3M | $1.4M |
| Total assets | $876.7M | $812.4M | $736.6M | $673.4M | $492.7M | $348.5M | $402.4M | $481.0M | $410.1M | $333.7M |
| Total liabilities | $242.8M | $237.5M | $243.9M | $246.4M | $148.4M | $123.5M | $135.3M | $144.2M | $86.8M | $67.1M |
| Retained earnings | -$105.8M | -$129.3M | -$158.2M | -$171.4M | -$232.0M | -$291.5M | -$242.5M | -$208.4M | -$138.0M | -$128.0M |
| Total equity | $562.0M | $511.7M | $381.2M | $337.6M | $255.2M | $174.2M | $213.7M | $222.6M | $275.5M | $265.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$120.4M | $96.7M | $172.0M | $61.7M | $242.9M | $89.2M | $141.4M | $72.6M | $64.3M | $115.0M |
| Depreciation and amortisation | $9.8M | $9.3M | $4.1M | $4.4M | $4.1M | $4.7M | $4.4M | $4.5M | $4.3M | $4.2M |
| Stock-based compensation | $46.0M | $52.3M | $44.5M | $49.4M | $40.5M | $29.3M | $27.8M | $24.6M | $22.4M | $22.1M |
| Capital expenditure | $6.0M | $11.7M | $57.0M | $4.2M | $2.7M | $2.5M | $2.8M | $3.5M | $3.2M | $10.2M |
| Investing cash flow | $8.4M | -$119.7M | -$114.8M | -$2.9M | $47.6M | -$1.8M | $35.9M | -$53.2M | $5.7M | $2.9M |
| Financing cash flow | $73.8M | $18.2M | -$119.1M | $9.0M | -$145.4M | -$148.9M | -$170.1M | -$118.1M | -$60.4M | -$74.5M |
| Dividends paid | $126.9M | $119.2M | $112.4M | $107.4M | $147.6M | $122.5M | $162.7M | $178.9M | $98.3M | $70.8M |
| Buybacks | $28.4M | $21.1M | $21.5M | $26.8M | $22.6M | $25.9M | $10.4M | $10.6M | $9.1M | $8.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001284812-26-000011.
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