Cohen & Steers Inc CNS

FinancialsInvestment Banking & Investment ServicesUnited States of America

Last close 72.48 USD on Nov 1, 2026, +18.7% year to date

Quant rating

Quant rating C Rank 512 of 799 in Financials

Growth C 418 of 799
Valuation D 717 of 799
Quality C 390 of 799
Revisions B 220 of 799
Momentum D 626 of 799

Wall Street consensus Hold (3.00)Average target 67.50 USD −6.9%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 3.7B
Enterprise value: 3.8B
52-week range: 58.77 – 86.28
3-year range: 52.13 – 106.60
Dividend yield: 3.70%
Beta (5 years): 1.18
Shares outstanding: 51.4M
Next earnings: Jan 20, 2027

About the company

Cohen & Steers, Inc. is a holding company, which is engaged in global investment management. The Company is specialized in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. The Company’s distribution network encompasses two channels, wealth and institutional. Its wealth channel includes registered investment advisers, wire houses, independent and regional broker dealers and bank trusts. Its institutional channel includes sovereign wealth funds, corporate plans, insurance companies and public funds, including defined benefit and defined contribution plans, as well as other financial institutions that access its investment management services directly or through consultants and other intermediaries. The Company manages three types of investment vehicles, such as open-end funds, institutional accounts, and closed end.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	565	517	490	567	584	–
Revenue growth	9.2%	5.7%	−13.6%	−2.9%	37.9%	5.9%
EPS (basic, normalized)	3.09	2.93	2.84	3.70	4.03	–
EPS growth	5.5%	3.2%	−23.2%	−8.2%	–	–
Gross margin	87.1%	89.0%	88.9%	85.4%	87.0%	87.5%
Net margin	27.1%	29.2%	26.4%	30.2%	36.2%	29.8%
ROE	29.6%	34.4%	26.2%	61.5%	92.2%	48.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	388
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	565	+9.2%	6.7x	–	–	–	3.09	+5.5%	23.5x
2026	608	+7.6%	6.2x	–	–	–	3.45	+11.8%	21.0x
2027	646	+6.4%	5.8x	–	–	–	3.74	+8.2%	19.4x
2028	670	+3.6%	5.6x	–	–	–	3.85	+3.2%	18.8x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	608	−1.2%	−1.1%	+5.3%	3.45	−2.3%	−1.0%	+2.0%
2027	646	−4.5%	−3.0%	+7.3%	3.74	−6.1%	−3.9%	−0.3%
2028	670	0.0%	+10.6%	+21.4%	3.85	+11.7%	+11.7%	+12.1%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales reported (mil)	122	133	123	134	136	142	144	146	153	157
Sales mean (mil)	121	–	137	–	136	139	143	144	149	155
Surprise	+0.2%	–	−10.4%	–	−0.2%	+1.9%	+0.5%	+1.4%	+2.2%	+1.5%
EPS reported	0.68	0.77	0.78	0.75	0.73	0.81	0.81	0.79	0.85	0.89
EPS mean	0.67	0.78	0.78	0.76	0.76	0.78	0.81	0.81	0.85	0.89
Surprise	+1.5%	−1.3%	+0.6%	−1.3%	−3.3%	+4.5%	0.0%	−2.5%	−0.6%	0.0%

Peer comparison Investment Banking & Investment Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
CNS Cohen & Steers Inc	3.7B	–	27.1%	6.32x	21.0x	19.4x	17.0x	19.3x
BX Blackstone Inc.	142.7B	2.66x	20.9%	10.19x	20.1x	16.2x	18.2x	14.6x
BAM BROOKFIELD ASSET MANAGEMENT LTD	79.1B	2.92x	53.3%	10.26x	26.0x	22.5x	–	–
TROW T. Rowe Price Group, Inc.	22.2B	−0.78x	27.8%	1.95x	10.1x	10.3x	6.2x	6.1x
PS Pershing Square Inc	18.3B	–	32.8%	13.42x	88.3x	48.9x	79.3x	39.4x
BEN Franklin Templeton, Inc.	16.1B	8.29x	5.4%	1.37x	10.9x	10.0x	13.1x	11.7x
Mean		3.27x	27.9%	7.25x	29.4x	21.2x	26.7x	18.2x
Median		2.79x	27.5%	8.26x	20.5x	17.8x	17.0x	14.6x

Technical analysis

1M−1.7%
3M−11.4%
1Y+5.5%
3Y+57.7%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Cohen & Steers Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	565	517	490	567	584	423
Cost of revenue	72.9	57.1	54.2	82.9	75.9	56.8
Gross profit	492	460	435	484	508	367
Selling, general & administrative expenses	296	278	267	264	243	210
Research & development	–	–	–	–	–	–
Depreciation/amortization	9.8	9.3	4.1	4.4	4.1	4.7
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	–	–	–	61.1
Other operating expenses	0	0	0	0	0	0
Operating income	186	173	164	216	260	90.9
Net interest income (expense)	22.0	35.9	18.9	−18.3	21.7	3.4
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−3.8	0.7	−3.1	−0.8	−0.1	−0.9
Net income before taxes	205	210	180	197	282	93.4
Provision for taxes	47.2	46.7	43.6	47.4	55.8	18.2
Minority interest	−4.2	−11.5	−7.6	21.6	−14.8	1.4
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	153	151	129	171	211	76.6
Extraordinary items	–	–	–	–	–	–
Net income	153	151	129	171	211	76.6
EBIT, normalized	199	175	174	216	260	152
EBITDA, normalized	210	186	179	221	266	157
Basic EPS, normalized	3.09	2.93	2.84	3.70	4.03	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Cohen & Steers Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	145	183	187	247	184	41.2
Receivables	79.8	74.4	68.9	70.2	84.1	69.7
Total inventory	–	–	–	–	–	–
Prepaid expenses	–	–	–	–	–	–
Other current assets	–	–	–	–	–	–
Total current assets	–	–	–	–	–	–
Property, plant & equipment	162	168	170	145	30.9	41.5
Goodwill	18.8	17.5	18.1	17.8	18.4	19.2
Intangibles	1.2	1.2	1.2	1.2	1.2	1.2
Long-term investments	436	335	259	173	155	155
Note receivable	–	–	–	–	–	–
Other long-term assets	258	290	289	336	287	131
Total assets	877	812	737	673	493	348
Liabilities
Accounts payable	0.3	2.1	0.2	0.8	0.9	0.5
Payable/accrued	–	–	–	–	–	–
Accrued expenses	219	212	207	217	104	87.0
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	–	–
Other current liabilities	–	–	–	–	–	–
Total current liabilities	–	–	–	–	–	–
Long-term debt	0	0	0	0	0	0
Minority interest	71.9	63.2	111	89.4	89.1	50.7
Other liabilities	243	237	244	246	148	124
Total liabilities	315	301	355	336	238	174
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0.6	0.6	0.6	0.6	0.5	0.5
Additional paid-in capital	993	943	818	769	716	670
Retained earnings (accumulated deficit)	−106	−129	−158	−171	−232	−292
Treasury stock	−321	−293	−272	−250	−223	−201
Other equity	−4.7	−10.0	−7.7	−10.8	−5.9	−4.1
Total equity	562	512	381	338	255	174
Total liabilities & shareholders' equity	877	812	737	673	493	348

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Cohen & Steers Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	157	163	137	149	226	75.2
Depreciation, depletion & amortization	11.7	11.2	5.1	5.6	5.7	4.7
Deferred taxes	0.6	−0.3	0.5	−1.2	0.1	0.1
Non-cash items	44.7	41.6	51.9	87.8	34.0	43.8
Changes in working capital	−335	−119	−22.3	−180	−23.0	−34.5
Cash from operations	−120	96.7	172	61.7	243	89.2
Investing activities
Capital expenditures	−6.0	−11.7	−57.0	−4.2	−2.7	−2.5
Other investing cash flows	14.3	−108	−57.8	1.4	50.3	0.7
Cash from investing	8.4	−120	−115	−2.9	47.6	−1.8
Financing activities
Financing cash flow items	228	88.9	13.9	142	23.7	−1.3
Cash dividends paid	−127	−119	−112	−107	−148	−122
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−27.5	48.5	−20.5	−25.8	−21.6	−25.1
Cash from financing	73.8	18.2	−119	9.0	−145	−149
Foreign exchange effects	1.7	−1.6	2.8	−4.4	−1.0	1.4
Net change in cash	−36.6	−6.4	−59.1	63.4	144	−60.1
Free cash flow	−126	85.0	115	57.5	240	86.7

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.