Cohen & Steers, Inc. (CNS) Income Statement
CNS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCNS revenue and net income
Where CNS's revenue goes
2025Each bar shows an amount and its share of revenue. CNS kept 27.0% of revenue as net income.
CNS profit margins
CNS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +9.7% | −0.3% | +5.7% | +5.6% |
| Gross profit | +34.8% | +5.0% | +15.4% | +5.8% |
| Operating income | +2.8% | −6.3% | +13.3% | +3.4% |
| Net income | +1.3% | −3.6% | +14.9% | +9.0% |
| EPS (diluted) | +5.8% | −5.8% | +3.7% | +7.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CNS quarterly EPS vs estimates
Cohen & Steers beat the analyst EPS estimate in 6 of the last 8 quarters.
CNS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $567.8M | $517.4M | $489.6M | $573.7M | $583.8M | $430.9M | $410.8M | $391.5M | $383.0M | $353.6M |
| Cost of revenue | $241.3M | $275.1M | $254.4M | $291.8M | $271.3M | $271.5M | $198.7M | $181.3M | $177.4M | $168.8M |
| Gross profit | $326.5M | $242.3M | $235.3M | $282.0M | $312.5M | $159.4M | $212.2M | $210.2M | $205.6M | $184.9M |
| Research & development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $71.2M | $60.1M | $66.7M | $54.8M | $48.0M | $56.3M | $47.6M | $59.8M | $42.2M | $43.0M |
| Total operating expenses | $148.8M | $69.4M | $70.8M | $66.0M | $52.1M | $64.3M | $52.0M | $63.2M | $50.9M | $49.4M |
| Operating income | $177.7M | $172.9M | $164.5M | $215.9M | $260.4M | $95.1M | $160.1M | $147.0M | $154.7M | $135.5M |
| Interest income | $22.0M | $35.9M | $12.9M | $18.3M | $21.7M | $3.4M | $6.7M | $10.4M | $4.3M | $2.1M |
| Interest expense | — | — | — | $6.8M | $25.5M | $5.3M | $35.8M | $0 | $0 | $0 |
| Income before taxes | $204.6M | $209.5M | $180.3M | $196.9M | $281.9M | $93.4M | $187.5M | $143.8M | $160.4M | $143.4M |
| Income taxes | $47.2M | $46.7M | $43.6M | $47.4M | $55.8M | $18.2M | $40.6M | $34.3M | $67.9M | $50.6M |
| Net income | $153.2M | $151.3M | $129.0M | $171.0M | $211.4M | $76.6M | $134.6M | $113.9M | $91.9M | $92.9M |
| EBITDA | $201.1M | $203.4M | $169.6M | $228.4M | $279.3M | $114.7M | $181.9M | $171.3M | $163.4M | $145.2M |
| EPS (diluted) | $3.10 | $2.93 | $2.83 | $3.71 | $4.03 | $2.58 | $2.59 | $2.41 | $2.07 | $1.87 |
| Gross margin | 57.5% | 46.8% | 48.1% | 49.1% | 53.5% | 37.0% | 51.6% | 53.7% | 53.7% | 52.3% |
| Operating margin | 31.3% | 33.4% | 33.6% | 37.6% | 44.6% | 22.1% | 39.0% | 37.6% | 40.4% | 38.3% |
| Net margin | 27.0% | 29.2% | 26.4% | 29.8% | 36.2% | 17.8% | 32.8% | 29.1% | 24.0% | 26.3% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $156.1M | $166.9M | $146.7M | $143.8M | $141.7M | $142.4M | $139.8M | $144.7M | $138.6M | $126.8M | $126.6M | $123.4M |
| Cost of revenue | $27.4M | $19.5M | $21.5M | $25.7M | $73.5M | $72.3M | $69.7M | $72.2M | $71.1M | $66.4M | $65.4M | $62.5M |
| Gross profit | $128.7M | $147.4M | $125.2M | $118.1M | $68.2M | $70.1M | $70.1M | $72.5M | $67.5M | $60.4M | $61.2M | $60.9M |
| Sales, general & admin | — | — | $18.9M | $19.2M | $16.8M | $18.1M | $17.2M | $15.8M | $14.9M | $14.7M | $14.8M | $17.3M |
| Total operating expenses | $79.0M | $80.5M | $74.0M | $77.8M | $19.3M | $26.8M | $24.9M | $23.2M | $22.6M | $22.0M | $21.0M | $23.0M |
| Operating income | $49.7M | $67.0M | $51.1M | $40.3M | $48.9M | $43.3M | $45.2M | $49.3M | $44.9M | $38.4M | $40.3M | $37.9M |
| Interest income | — | — | — | $5.2M | $5.8M | $6.3M | $8.9M | $3.6M | — | — | — | $4.2M |
| Interest expense | — | — | — | — | — | — | — | — | — | — | — | $503,000 |
| Income before taxes | $56.0M | $72.0M | $57.2M | $42.3M | $55.6M | $53.8M | $53.0M | $55.7M | $67.6M | $41.0M | $45.3M | $54.5M |
| Income taxes | $15.2M | $16.4M | $16.0M | $11.6M | $13.9M | $12.1M | $9.7M | $12.7M | $12.3M | $10.9M | $10.9M | $11.9M |
| Net income | $42.2M | $49.3M | $42.4M | $34.9M | $41.7M | $36.8M | $39.8M | $45.8M | $39.7M | $31.8M | $34.0M | $29.8M |
| EBITDA | $58.6M | $74.6M | $60.3M | $42.8M | $51.9M | $52.5M | $53.4M | $57.2M | $53.0M | $46.3M | $46.9M | $47.5M |
| EPS (diluted) | $0.89 | $0.85 | $0.79 | $0.81 | $0.81 | $0.73 | $0.75 | $0.78 | $0.77 | $0.68 | $0.70 | $0.67 |
| Gross margin | 82.5% | 88.3% | 85.3% | 82.1% | 48.1% | 49.2% | 50.1% | 50.1% | 48.7% | 47.7% | 48.4% | 49.3% |
| Operating margin | 31.9% | 40.1% | 34.9% | 28.0% | 34.5% | 30.4% | 32.3% | 34.1% | 32.4% | 30.3% | 31.8% | 30.7% |
| Net margin | 27.1% | 29.6% | 28.9% | 24.3% | 29.4% | 25.9% | 28.4% | 31.7% | 28.6% | 25.1% | 26.9% | 24.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CNS's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CNS financial results
In fiscal year 2025 (ended December 31, 2025), Cohen & Steers reported revenue of $567.8 million, up 9.7% from the year before. It had net income of $153.2 million (up 1.3%), a net profit margin of 27.0%. Diluted earnings per share came to $3.10. Over five years revenue grew at an average rate of 5.7% a year.
See the CNS stock overview for the latest quote and news, or the CNS chart for price history and technical indicators.
CNS income statement FAQ
What is Cohen & Steers's annual revenue?
Cohen & Steers reported total revenue of $567.8 million for fiscal year 2025, which ended on December 31, 2025. That was up 9.7% from $517.4 million the previous year.
Is Cohen & Steers profitable?
Yes. Cohen & Steers reported net income of $153.2 million in fiscal 2025, a net profit margin of 27.0%; its operating margin was 31.3%.
What is Cohen & Steers's gross margin?
Cohen & Steers's gross margin was 57.5% in fiscal 2025: for every $100 of revenue, Cohen & Steers kept $58 after the direct cost of its products and services.
How fast is Cohen & Steers growing?
Revenue grew 5.7% a year on average over the last five fiscal years, from $430.9 million to $567.8 million.
What are Cohen & Steers's earnings per share?
Cohen & Steers earned $3.10 per diluted share in fiscal 2025, compared with $2.93 a year earlier.
When does Cohen & Steers's fiscal year end?
Cohen & Steers's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.