Cohen & Steers (CNS) Q1 FY2025 earnings: revenue $134 million, up 9.6% on the year

Cohen & Steers, Inc. (CNS) reported revenue of $134 million for Q1 FY2025, the quarter ended 31 March 2025, up 9.6% on the same quarter a year earlier. Net income was $40 million, up 17.0% on the year, and diluted earnings per share $0.77. The figures are the company's own, from the 10-Q it filed with the SEC on 2 May 2025.

Revenue$134 millionup 9.6%

Net income$40 millionup 17.0%

Diluted EPS$0.77

QuarterQ1 FY2025ended 31 March 2025

The quarter, against the one before and a year earlier

Line	Q1 FY2025	Q4 FY2024	Q1 FY2024	Change on the year
Revenue	134	140	123	+9.6%
Operating income	45.2	49.3	40.3	+12.3%
Operating margin	33.6%	35.3%	32.8%
Pre-tax income	53.0	55.7	45.3	+16.9%
Income tax	n/a	12.7	10.9	n/a
Effective tax rate	n/a	22.8%	24.0%
Net income	39.8	45.8	34.0	+17.0%
Net margin	29.6%	32.8%	27.7%
Diluted EPS	$0.77	$0.89	$0.68	+13.2%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2025	Q4 FY2024	Q1 FY2024	Change on the year
Operating cash flow	-109	34.8	4.9	n/a
Capital expenditure	1.1	1.7	4.3	-75.2%
Free cash flow	-110	33.1	0.5	n/a
Free cash flow margin	-81.8%	23.7%	0.4%
Cash from investing	2.0	23.1	-29.4	n/a
Cash from financing	-10.5	13.1	-64.3	n/a
Depreciation and amortisation	2.4	2.4	2.3	+4.6%
Share-based compensation	11.4	10.9	13.0	-12.5%
Buybacks	26.0	1.5	19.4	+34.2%
Dividends paid	31.7	30.0	29.3	+8.2%
Dividend per share	$0.62	n/a	$0.59	+5.1%
Diluted shares, weighted	51m	52m	50m	+3.2%
Shares outstanding at period end	51m	51m	51m	+0.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2025	Q4 FY2024	Q1 FY2024	Change on the year
Shareholders' equity	508	512	379	+34.0%
Non-controlling interest	12.0	9.7	5.0	+140.0%
Redeemable equity	n/a	53.5	n/a	n/a
Debt	0.0	0.0	0.0	n/a
Operating lease liabilities	140	141	141	-0.9%
Other liabilities	175	96.3	155	+12.7%
Total liabilities and equity	835	812	681	+22.6%
Fixed assets	67.5	68.6	68.4	-1.3%
Goodwill	n/a	17.5	n/a	n/a
Cash and equivalents	65.2	183	99.5	-34.5%
Receivables	n/a	74.4	n/a	n/a
Other assets	702	469	513	+36.9%
Total assets	835	812	681	+22.6%

Questions

What was Cohen & Steers' revenue in Q1 FY2025?

Cohen & Steers (CNS) reported revenue of $134 million for Q1 FY2025, the quarter ended 31 March 2025, up 9.6% on the same quarter a year earlier.

How much did Cohen & Steers earn in Q1 FY2025?

Net income for Q1 FY2025 was $40 million, up 17.0% on the year, and diluted earnings per share $0.77.

When did Cohen & Steers report Q1 FY2025 results?

Cohen & Steers filed its 10-Q for the quarter ended 31 March 2025 with the SEC on 2 May 2025.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	124	119	123	122	133	140	134	136	142	144	146	153
Operating income	40.9	37.9	40.3	38.4	44.9	49.3	45.2	43.3	48.9	40.3	50.1	52.8
Operating margin	33%	32%	33%	32%	34%	35%	34%	32%	35%	28%	34%	35%
Pre-tax income	35.7	54.5	45.3	41.0	67.6	55.7	53.0	53.8	55.6	42.3	57.2	72.0
Tax rate	30%	22%	24%	27%	18%	23%	n/a	22%	n/a	n/a	n/a	23%
Net income	32.1	29.8	34.0	31.8	39.7	45.8	39.8	36.8	41.7	34.9	42.4	49.3
Net margin	26%	25%	28%	26%	30%	33%	30%	27%	29%	24%	29%	32%
Diluted EPS	$0.65	$0.60	$0.68	$0.63	$0.77	$0.89	$0.77	$0.72	$0.81	$0.68	$0.82	$0.95
Operating cash flow	74.7	58.6	4.9	31.4	25.6	34.8	-109	-67.6	55.1	1.1	-51.4	67.4
Capital expenditure	26.0	10.8	4.3	4.2	1.4	1.7	1.1	2.1	2.5	0.3	n/a	n/a
Free cash flow	48.7	47.7	0.5	27.1	24.2	33.1	-110	-69.8	52.6	0.8	n/a	n/a
Buybacks	0.1	0.9	19.4	0.1	0.1	1.5	26.0	0.6	0.3	1.6	16.9	0.4
Dividends paid	28.2	28.1	29.3	29.9	30.0	30.0	31.7	31.7	31.7	31.8	34.5	34.5
Shares outstanding	49m	56m	51m	51m	51m	51m	51m	51m	51m	51m	51m	51m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2025, filed 2 May 2025, accession 0001284812-25-000156: the filing on EDGAR. All of Cohen & Steers, Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install