Cohen & Steers, Inc. (CNS) 10-Year Financial Performance & Capital Metrics

CNS • • Banking & Credit

Financial ServicesAsset ManagementSpecialized & Niche Asset ManagersReal Estate & REIT Specialists

AboutCohen & 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. Cohen & Steers, Inc. was founded in 1986 and is based in New York, with additional offices in London, United Kingdom; Central, Hong Kong; Tokyo, Japan; and Seattle, Washington.Show more

Net Interest Income $19M +32.3%
Total Revenue $517M +5.7%
Net Income $151M +17.2%
Return on Equity 28.34% +1.0%
Net Interest Margin 2.38% +20.0%
Efficiency Ratio 13.42% -7.2%
ROA 19.53% +6.7%
Equity / Assets 70.77% +5.8%
Book Value per Share 11.29 +13.5%
Tangible BV/Share 10.92 +14.3%
Debt/Equity 0.25 -13.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 33.6%
✓Efficient operations: 13.4% efficiency ratio
✓Well capitalized: 70.8% equity/assets
✓Healthy dividend yield of 3.4%
✓Diversified revenue: 96.3% from non-interest income

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.12%

5Y4.72%

3Y-3.95%

TTM-

Profit (Net Income) CAGR

10Y7.19%

5Y2.36%

3Y-10.56%

TTM26.92%

EPS CAGR

10Y6.05%

5Y1.26%

3Y-11.67%

TTM23.05%

ROCE

10Y Avg38.8%

5Y Avg35.75%

3Y Avg28.46%

Latest22.77%

Peer Comparison

Real Estate & REIT Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CNSCohen & Steers, Inc.	3.55B	69.63	23.44	5.67%	29.23%	29.89%	2.39%	0.25
EARNEllington Credit Company	204.76M	5.45	22.71	-8.45%	13%	-2.3%	4.45%	2.91
CWDCaliberCos Inc.	8.69M	1.33	-1.48	-43.79%	-38.69%	-225.23%	6.39%	7.27

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	1.6M	2.12M	4.33M	10.43M	6.72M	3.36M	2.88M	6.82M	14.62M	19.34M
NII Growth %	-0.22%	0.32%	1.04%	1.41%	-0.36%	-0.5%	-0.14%	1.37%	1.14%	0.32%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	1.6M	2.12M	4.33M	10.43M	6.72M	3.36M	2.88M	6.82M	14.62M	19.34M
Interest Expense	0	0	0	0	0	0	0	0	0	0
Loan Loss Provision	144.04M	168.75M	177.41M	181.34M	198.67M	271.54M	271.33M	291.76M	254.35M	275.12M
Non-Interest Income+	328.65M	351.5M	378.7M	381.11M	404.11M	427.54M	580.96M	566.91M	475.02M	498.07M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	330.25M	353.62M	383.03M	391.54M	410.83M	430.9M	583.83M	573.72M	489.64M	517.42M
Revenue Growth %	0.05%	0.07%	0.08%	0.02%	0.05%	0.05%	0.35%	-0.02%	-0.15%	0.06%
Non-Interest Expense	58.67M	49.35M	50.87M	63.16M	52.03M	64.3M	52.13M	66.03M	70.81M	69.42M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	127.55M	135.51M	154.75M	147.04M	160.13M	95.06M	260.37M	215.94M	164.48M	172.88M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.05%	0.06%	0.14%	-0.05%	0.09%	-0.41%	1.74%	-0.17%	-0.24%	0.05%
Pretax Income+	112.74M	143.4M	160.4M	143.78M	187.55M	93.39M	281.94M	196.9M	180.25M	209.54M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	48.41M	50.59M	67.91M	34.26M	40.56M	18.22M	55.79M	47.41M	43.64M	46.75M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	64.55M	92.94M	91.94M	113.9M	134.62M	76.58M	211.4M	171.04M	129.05M	151.26M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.15%	0.44%	-0.01%	0.24%	0.18%	-0.43%	1.76%	-0.19%	-0.25%	0.17%
Net Income (Continuing)	64.34M	92.81M	92.49M	109.52M	146.98M	75.17M	226.15M	149.49M	136.61M	162.79M
EPS (Diluted)+	1.41	2.00	1.96	2.40	2.79	1.57	4.31	3.47	2.60	2.97
EPS Growth %	-0.15%	0.42%	-0.02%	0.22%	0.16%	-0.44%	1.75%	-0.19%	-0.25%	0.14%
EPS (Basic)	1.42	2.02	1.98	2.43	2.85	1.60	4.38	3.51	2.62	3.00
Diluted Shares Outstanding	45.9M	46.43M	46.98M	47.38M	48.3M	48.68M	49.09M	49.3M	49.55M	50.94M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	142.73M	183.23M	193.45M	92.73M	101.35M	41.23M	184.37M	247.42M	187.44M	182.97M
Short Term Investments	1000K	1000K	1000K	0	0	0	1000K	1000K	1000K	1000K
Total Investments+	71.33M	54.54M	108.11M	116.57M	140.23M	154.98M	154.65M	172.96M	258.97M	335.38M
Investments Growth %	0.2%	-0.24%	0.98%	0.08%	0.2%	0.11%	-0%	0.12%	0.5%	0.3%
Long-Term Investments	16.97M	6.46M	6.18M	116.57M	140.23M	154.98M	130.94M	157.67M	180.97M	208.42M
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	17.98M	17.68M	19.03M	18.5M	18.31M	19.25M	18.45M	17.8M	18.14M	17.51M
Intangible Assets	1.52M	1.43M	1.34M	1.25M	1.25M	1.25M	1.25M	1.25M	1.25M	1.25M
PP&E (Net)	9.78M	15.96M	15.04M	62.59M	50.93M	41.54M	30.95M	145.19M	169.64M	167.8M
Other Assets	5.76M	7.38M	7.05M	9.21M	7.43M	8.4M	15.36M	19.74M	27.54M	31.59M
Total Current Assets	247.75M	279.19M	355.67M	157.35M	162.2M	116.04M	295.74M	331.46M	339M	385.79M
Total Non-Current Assets	57.57M	54.54M	54.46M	215.32M	225.24M	232.42M	196.95M	341.64M	397.55M	426.58M
Total Assets+	305.32M	333.73M	410.13M	481.04M	402.42M	348.45M	492.69M	673.38M	736.55M	812.37M
Asset Growth %	0.09%	0.09%	0.23%	0.17%	-0.16%	-0.13%	0.41%	0.37%	0.09%	0.1%
Return on Assets (ROA)	0.22%	0.29%	0.25%	0.26%	0.3%	0.2%	0.5%	0.29%	0.18%	0.2%
Accounts Payable	6.19M	6.45M	6.23M	8.49M	7.32M	7.75M	10.18M	8.42M	10.14M	8.48M
Total Debt+	0	0	0	54.3M	43.35M	34.93M	24.52M	138.81M	140.41M	141.12M
Net Debt	-142.73M	-183.23M	-193.45M	-38.43M	-58M	-6.31M	-159.85M	-108.61M	-47.03M	-41.86M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Other Liabilities	44.87M	51.23M	57.39M	57.62M	62.08M	67.7M	90.11M	90.62M	88.04M	81.15M
Total Current Liabilities	17.34M	15.83M	29.41M	32.28M	29.88M	20.92M	33.72M	17.01M	15.46M	15.2M
Total Non-Current Liabilities	44.87M	51.23M	57.39M	111.92M	105.43M	102.63M	114.64M	229.43M	228.45M	222.27M
Total Liabilities	62.21M	67.06M	86.79M	144.2M	135.3M	123.55M	148.36M	246.44M	243.91M	237.46M
Total Equity+	243.11M	266.67M	323.33M	336.84M	267.12M	224.9M	344.33M	426.94M	492.65M	574.9M
Equity Growth %	0.06%	0.1%	0.21%	0.04%	-0.21%	-0.16%	0.53%	0.24%	0.15%	0.17%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.27%	0.36%	0.31%	0.35%	0.45%	0.31%	0.74%	0.44%	0.28%	0.28%
Book Value per Share	5.30	5.74	6.88	7.11	5.53	4.62	7.01	8.66	9.94	11.29
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	497K	504K	511K	518K	527K	535K	543K	551K	558K	575K
Additional Paid-in Capital	519.86M	543.83M	570.49M	602.27M	636.79M	670.14M	715.85M	769.37M	818.27M	943.28M
Retained Earnings	-148.1M	-127.96M	-137.97M	-208.4M	-242.46M	-291.54M	-231.97M	-171.42M	-158.19M	-129.34M
Accumulated OCI	-3.84M	-5.88M	-3.67M	-7.32M	-6.33M	-4.13M	-5.89M	-10.78M	-7.71M	-10.03M
Treasury Stock	-136.64M	-144.68M	-153.82M	-164.42M	-174.82M	-200.76M	-223.35M	-250.17M	-271.7M	-292.78M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	89.8M	114.96M	64.25M	72.6M	141.44M	89.19M	242.9M	61.68M	171.96M	96.69M
Operating CF Growth %	0.65%	0.28%	-0.44%	0.13%	0.95%	-0.37%	1.72%	-0.75%	1.79%	-0.44%
Net Income	64.34M	92.81M	92.49M	109.52M	146.98M	75.17M	226.15M	149.49M	129.05M	162.79M
Depreciation & Amortization	6.21M	7.61M	4.32M	13.84M	14.44M	16.27M	16.03M	5.67M	19.64M	11.17M
Deferred Taxes	7.39M	-900K	-314K	-1.37M	96K	107K	104K	-1.2M	537K	-297K
Other Non-Cash Items	15.6M	-2.99M	8.99M	14.56M	-21.08M	2.85M	-16.81M	38.38M	528K	-10.7M
Working Capital Changes	-26.43M	-3.22M	-62.99M	-88.57M	-26.81M	-34.54M	-23.04M	-180M	-22.26M	-118.58M
Cash from Investing+	397K	2.9M	5.71M	-53.19M	35.95M	-1.77M	47.65M	-2.86M	-114.78M	-119.71M
Purchase of Investments	-5.66M	-8.1M	-16.9M	-63.56M	-50.94M	-70.96M	-54.04M	-145.34M	-169.4M	-417.46M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	1.18M	0	0	37K	0	6K	0	0	0	0
Other Investing	0	363K	388K	0	52K	0	0	0	0	0
Cash from Financing+	-71.11M	-74.54M	-60.42M	-118.11M	-170.13M	-148.9M	-145.43M	8.97M	-119.05M	18.17M
Dividends Paid	-68.18M	-70.83M	-98.31M	-178.88M	-162.71M	-122.49M	-147.56M	-107.35M	-112.45M	-119.18M
Share Repurchases	-19.23M	-8.04M	-9.14M	-10.6M	-10.41M	-25.94M	-22.59M	-26.82M	-21.54M	-21.11M
Stock Issued	539K	642K	636K	597K	741K	859K	1M	0	1.06M	68.46M
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	0	0	0	0	0	0	0	0	0
Other Financing	15.76M	3.68M	46.4M	70.77M	2.24M	-1.33M	24.72M	143.14M	14.93M	89.99M
Net Change in Cash+	17.79M	40.51M	10.22M	-100.72M	8.62M	-60.12M	144.12M	63.36M	-59.11M	-6.44M
Exchange Rate Effect	-1000K	-1000K	679K	-1000K	1000K	1000K	-999K	-1000K	1000K	-1000K
Cash at Beginning	124.94M	142.73M	183.23M	193.45M	92.73M	101.35M	41.23M	185.36M	248.71M	189.6M
Cash at End	142.73M	183.23M	193.45M	92.73M	101.35M	41.23M	185.36M	248.71M	189.6M	183.16M
Interest Paid	0	0	0	0	0	0	0	0	0	0
Income Taxes Paid	0	0	0	0	0	0	0	0	0	0
Free Cash Flow+	87.37M	104.78M	61.01M	69.13M	138.69M	86.68M	240.21M	57.46M	114.97M	85.04M
FCF Growth %	0.8%	0.2%	-0.42%	0.13%	1.01%	-0.37%	1.77%	-0.76%	1%	-0.26%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	27.37%	36.46%	31.17%	34.51%	44.58%	31.13%	74.27%	44.35%	28.07%	28.34%
Return on Assets (ROA)	22.03%	29.09%	24.72%	25.56%	30.48%	20.4%	50.26%	29.34%	18.31%	19.53%
Net Interest Margin	0.52%	0.63%	1.06%	2.17%	1.67%	0.96%	0.58%	1.01%	1.98%	2.38%
Efficiency Ratio	17.76%	13.96%	13.28%	16.13%	12.66%	14.92%	8.93%	11.51%	14.46%	13.42%
Equity / Assets	79.62%	79.91%	78.84%	70.02%	66.38%	64.54%	69.89%	63.4%	66.89%	70.77%
Book Value / Share	5.3	5.74	6.88	7.11	5.53	4.62	7.01	8.66	9.94	11.29
NII Growth	-22.25%	32.44%	104.48%	140.62%	-35.58%	-49.94%	-14.43%	136.98%	114.4%	32.33%
Dividend Payout	105.62%	76.21%	106.93%	157.05%	120.86%	159.94%	69.8%	62.76%	87.13%	78.79%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Open-End Investment Funds	-	-	-	192.74M	217.78M	231.27M	328.65M	326.17M	269.73M	288.37M
Open-End Investment Funds Growth	-	-	-	-	12.99%	6.19%	42.11%	-0.75%	-17.31%	6.91%
Institutional Accounts	-	-	-	100.31M	110.35M	115.88M	146.34M	134.01M	123.56M	129.07M
Institutional Accounts Growth	-	-	-	-	10.00%	5.01%	26.29%	-8.43%	-7.80%	4.46%
Closed-End Investment Funds	-	-	-	77.27M	80.5M	78.03M	108.84M	106.72M	96.34M	99.98M
Closed-End Investment Funds Growth	-	-	-	-	4.18%	-3.08%	39.49%	-1.95%	-9.72%	3.77%
Financial Service	-	-	-	-	30.05M	30.13M	37.63M	-	-	-
Financial Service Growth	-	-	-	-	-	0.29%	24.88%	-	-	-
Portfolio Consulting and Other Revenue	2.79M	2.93M	3.04M	10.79M	2.2M	2.37M	-	-	-	-
Portfolio Consulting and Other Revenue Growth	-	4.91%	3.58%	255.68%	-79.58%	7.30%	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
North America	-	-	-	322.96M	352.63M	363.83M	506.36M	496.37M	423.13M	449.41M
North America Growth	-	-	-	-	9.19%	3.18%	39.17%	-1.97%	-14.75%	6.21%
JAPAN	41.9M	43.46M	42.3M	35.28M	33.97M	32.52M	38.04M	36.06M	31.87M	31.7M
JAPAN Growth	-	3.72%	-2.66%	-16.59%	-3.73%	-4.27%	16.98%	-5.21%	-11.61%	-0.54%
Europe	-	-	-	10.37M	11.09M	19.87M	26.33M	21.44M	21.42M	20.74M
Europe Growth	-	-	-	-	6.90%	79.21%	32.52%	-18.58%	-0.10%	-3.17%
Asia, Excluding Japan	-	-	-	12.49M	13.15M	11.32M	13.1M	13.04M	13.22M	15.57M
Asia, Excluding Japan Growth	-	-	-	-	5.23%	-13.93%	15.76%	-0.43%	1.36%	17.77%
UNITED STATES	266.58M	282.52M	313.41M	-	-	-	-	-	-	-
UNITED STATES Growth	-	5.98%	10.93%	-	-	-	-	-	-	-
Other Foreign Countries	20.17M	23.9M	11.5M	-	-	-	-	-	-	-
Other Foreign Countries Growth	-	18.49%	-51.90%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Cohen & Steers, Inc. (CNS) has a price-to-earnings (P/E) ratio of 23.4x. This is roughly in line with market averages.

Growth & Financials

Cohen & Steers, Inc. (CNS) grew revenue by 5.7% over the past year. This is steady growth.

Yes, Cohen & Steers, Inc. (CNS) is profitable, generating $162.1M in net income for fiscal year 2024 (29.2% net margin).

Dividend & Returns

Yes, Cohen & Steers, Inc. (CNS) pays a dividend with a yield of 3.36%. This makes it attractive for income-focused investors.

Cohen & Steers, Inc. (CNS) has a return on equity (ROE) of 28.3%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics

Cohen & Steers, Inc. (CNS) has a net interest margin (NIM) of 2.4%. NIM has been under pressure due to interest rate environment.

Cohen & Steers, Inc. (CNS) has an efficiency ratio of 13.4%. This is excellent, indicating strong cost control.

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