COHEN & STEERS, INC.

Listed Company

CNSCIK 0001284812NYSELarge AcceleratedInvestment AdviceDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$153.22M

Total Assets

$876.69M

Equity

$561.95M

Shares Out

51.39M

Op. Cash Flow

$-120.44M

+ 13F Filer

Business

COHEN & STEERS, INC. is a global investment manager specializing in real assets and alternative income strategies. It offers investment management and advisory services across listed and private real estate, preferred securities, infrastructure, natural resource equities, commodities, multi‑strategy real assets, ETFs, open‑end funds, closed‑end funds and institutional accounts. The company operates through specialized investment teams and subsidiaries that provide portfolio management, subadvisory and brokerage services and distinct product strategies. It distributes products globally through wealth and institutional channels and maintains offices in London, Dublin, Hong Kong, Tokyo and Singapore.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	556	517	490	567	584
Employee compensation and benefits	224	218	200	209	195
Distribution and service fees	73	57	54	83	76
General and administrative	71	60	67	55	48
Depreciation and amortization	10	9	4	4	4
Total expenses	378	345	325	351	323
Operating income (loss)	178	173	164	216	260
Interest and dividend incomenet	22	19	15	7	3
Gain (loss) from investmentsnet	9	17	4	−25	19
Foreign currency gains (losses)net	−4	738,000	−3	−753,000	−89,000
Total non-operating income (loss)	27	37	16	−19	22
Total income before provision for income taxes	205	210	180	197	282
Income tax expense and effective income tax rate	47	47	44	—	—
Net income	157	163	137	149	226
Net (income) loss attributable to redeemable noncontrolling interest	−4	−12	−8	22	−15
Net income attributable to common stockholders	153	151	129	171	211
Basic (in dollars per share)	2.99	3	2.62	3.51	4.38
Diluted (in dollars per share)	2.97	2.97	2.6	3.47	4.31
Basic (shares)	51	50	49	49	48
Diluted (shares)	52	51	50	49	49

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	145	183	187	247	184
Investments	436	335	259	173	155
Accounts receivable	80	74	—	—	—
Due from brokers ($90 and $60)	2	1	5	2	4
Property and equipmentnet	65	69	66	9	9
Operating lease right-of-use assets	97	99	103	136	22
Goodwill and intangible assetsnet	20	19	19	19	20
Other assets ($986 and $199)	31	32	28	20	15
Total assets	877	812	737	673	493
Accrued compensation and benefits	81	71	66	78	79
Distribution and service fees payable	9	8	10	8	10
Operating lease liabilities	138	141	140	139	25
Income tax payable	2	5	5	8	23
Due to brokers ($318 and $170)	−319,000	−2	−201,000	835,000	927,000
Other liabilities and accrued expenses ($673 and $333)	13	10	22	13	11
Total liabilities	243	237	244	246	148
Commitments and contingencies	—	—	—	—	—
Redeemable noncontrolling interest	23	53	106	85	89
Common stock, $0.01 par value; 500,000,000 shares authorized; 58,275,965 shares issued and 51,032,114 shares outstanding at December 31, 2025 and 57,492,567 shares issued and 50,574,641 shares outstanding at December 31, 2024	583,000	575,000	558,000	551,000	543,000
Additional paid-in capital	993	943	818	769	716
Accumulated deficit	−106	−129	−158	−171	−232
Accumulated other comprehensive income, net of tax	−5	−10	−8	−11	−6
Treasury stock, at cost, 7,243,851 and 6,917,926 shares at December 31, 2025 and 2024, respectively	−321	−293	−272	−250	−223
Total stockholders' equity	562	512	381	338	255
Noncontrolling interests	49	10	5	4	0
Total stockholders equity	611	521	386	342	255
Total liabilities and stockholders equity	877	812	737	673	493

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock compensation expense	46	52	44	49	40
Depreciation and amortization	12	11	5	6	6
Non-cash lease expense	5	6	14	—	—
Amortization (accretion) of premium (discount) on U.S. treasury securities - net	−1	1	2	115,000	31,000
Deferred income taxes	561,000	−297,000	537,000	−1	104,000
Foreign currency (gain) loss	1	1	−787,000	2	2
Accounts receivable	−5	−7	−1	16	−16
Due from brokers	−13	−22	−3	−2	2
Investments within consolidated funds	−319	−96	−19	−170	−28
Other assets	−446,000	−5	−7	2	3
Accrued compensation	10	5	−11	−1	23
Distribution and service fees payable	138,000	−2	2	−2	2
Operating lease liabilities	−6	−931,000	19	−12	−12
Due to broker	5	25	109,000	3	450,000
Income tax payable	−5	−162,000	−3	−15	10
Other liabilities and accrued expenses	−611,000	−16	1	2	−8
Net cash provided by (used in) operating activities	−120	97	172	62	243
Purchases of investments	−383	−417	−169	−145	−54
Proceeds from sales of investments	398	309	112	147	104
Purchases of property and equipment	−6	−12	−57	−4	−3
Net cash provided by (used in) investing activities	8	−120	−115	−3	48
Issuance of common stock	961,000	1	1	1	1
Proceeds from issuance of common stock from offering, net of issuance costs	0	68	0	0	—
Repurchase of common stock	−28	−21	−22	−27	−23
Dividends to stockholders	−127	−119	−112	−107	−148
Contributions from redeemable noncontrolling interests	229	89	14	—	—
Other	−442,000	−15,000	−603,000	0	0
Net cash provided by (used in) financing activities	74	18	−119	9	−145
Net increase (decrease) in cash and cash equivalents	−38	−5	−62	68	—
Effect of foreign exchange rate changes on cash and cash equivalents	2	−2	3	−4	−999,000

Filings

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Holdings (13F)

Portfolio as of 2026-01-14 · 403 positions

Reported AUM

$59.69B

Holdings

403

Top sector

$59.69B

Top sectors

Sector	Value	% of portfolio
Uncategorized	$59.69B	100.0%

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