CNS
COHEN & STEERS, INC.
Next earnings Jul 15, 2026 (after close) · consensus $0.84 EPS, $148M rev
Last earnings -2.4% on 2026-04-16
$78.38
▲ +2.47%$78.38▲ +7.03%
over 1Y
L $58.09EODHDH $78.38
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+2.5%
1W+3.7%
1M+10.6%
3M+30.0%
YTD+25.7%
1Y+7.0%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 10 analysts
Sell
High-quality real-assets manager with 32% margins and AUM tailwind, but FY25 EPS stalled and 25x P/E leaves little room.
Revenue $556M · FY2025
The read
Middling fundamentals and a rich price (~34% above fair value) leave little margin of safety — a wait-and-see.
Cohen & Steers is a specialist asset manager with enviable economics — 32.0% operating margin, 27.6% net margin and a 27.3% ROE on a fortress-light balance sheet (liabilities/equity of 0.43x, $145M cash, no meaningful debt). The 10-K confirms the franchise is intact: AUM grew 5.5% to $90.5B on $1.5B of net inflows plus $6.1B of market appreciation, with open-end funds up 6.0% to $43.4B and $1.2B flowing into U.S. real estate. This is the kind of capital-light, fee-driven business that compounds when markets cooperate.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $584M | $567M | $490M | $517M | $556M |
| Gross profit | — | — | — | — | — |
| Operating income | $260M | $216M | $164M | $173M | $178M |
| Net income | $211M | $171M | $129M | $151M | $153M |
| Diluted EPS | $4.31 | $3.47 | $2.60 | $2.97 | $2.97 |
| Net margin | 36.2% | 30.2% | 26.4% | 29.2% | 27.6% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)20.45
Earnings yield3.8%
FCF yield-3.1%
Quality & risk
ROIC (est.)25.0%
Free cash flow-$126M
Total debt—
Net cash$145M
Piotroski F-Score1/6
Capital returns
Buyback yield0.7%
Dividend yield (est.)3.2%
Shareholder yield3.9%
Shares Δ YoY+0.8%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Officer / director change2026-05-21
Executive officer change disclosed with related exhibits; leadership transition signal
- 8-K Shareholder vote2026-05-04
Annual meeting vote results filed; routine shareholder approvals
- 10-Q Quarterly report2026-05-01
Q1 2026 10-Q filed; continues post-2024 revenue rebound after AUM growth
- 8-K Earnings results2026-04-16
Q1 2026 earnings release furnished; results in line with steady AUM trajectory
- DEF 14A Proxy statement2026-03-20
- 10-K Annual report2026-02-27
FY25 revenue +7.5% to $556M, AUM +5.5% to $90.5B, EPS flat at $2.97
- 8-K Earnings results2026-01-22
Q4 2025 earnings release; AUM rose 5.5% to $90.5B on inflows + market gains
- 10-Q Quarterly report2025-10-31
Q3 2025 10-Q; AUM and fee revenue trending up vs. weak 2023 base
- 8-K Earnings results2025-10-16
Q3 2025 earnings release furnished; ongoing recovery in fee revenue
Recent filings
all on EDGAR ↗4Period ending 2026-06-152026-06-16open ↗144Filing2026-06-16open ↗4Period ending 2026-06-082026-06-09open ↗3Period ending 2026-06-082026-06-09open ↗SCHEDULE 13GFiling2026-06-05open ↗SCHEDULE 13G/AFiling2026-06-05open ↗4Period ending 2026-05-262026-05-27open ↗144Filing2026-05-26open ↗4Period ending 2026-05-212026-05-22open ↗4Period ending 2026-05-212026-05-22open ↗4Period ending 2026-05-212026-05-22open ↗4Period ending 2026-05-212026-05-22open ↗
Frequently asked
- Is COHEN & STEERS, INC. (CNS) a buy?
- CNS currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. High-quality real-assets manager with 32% margins and AUM tailwind, but FY25 EPS stalled and 25x P/E leaves little room.
- What is CNS's fair value?
- A Modified-Graham model based on CNS's SEC fundamentals estimates a fair value of about $51.72. It is an estimate from reported earnings, not a price target.
- Is CNS overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, CNS currently appears overvalued relative to its SEC-grounded earnings power.
- What is COHEN & STEERS, INC.'s quality score?
- CNS scores 74.41176470588235/100 (grade B) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001284812, latest 10-Q filed 2026-05-01) · EODHD · analysis by claude-code · as of 6/25/2026, 1:13:34 PM.
Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.