Federated Hermes, Inc. (FHI) Income Statement
FHI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFHI revenue and net income
Where FHI's revenue goes
2025Each bar shows an amount and its share of revenue. FHI kept 22.4% of revenue as net income.
FHI profit margins
FHI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +10.3% | +7.6% | +4.5% | +6.9% |
| Gross profit | +12.0% | +9.4% | +5.3% | +6.7% |
| Operating income | +42.2% | +15.1% | +4.2% | +6.3% |
| Net income | +50.3% | +19.0% | +4.3% | +9.0% |
| EPS (diluted) | +56.4% | +23.3% | +9.2% | +11.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FHI quarterly EPS vs estimates
Federated Hermes beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 29, 2026 (estimate $1.42).
FHI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.80B | $1.63B | $1.61B | $1.45B | $1.30B | $1.45B | $1.33B | $1.14B | $1.10B | $1.14B |
| Cost of revenue | $577.7M | $540.5M | $563.4M | $512.7M | $532.5M | $503.4M | $442.1M | $354.8M | $289.2M | $296.5M |
| Gross profit | $1.22B | $1.09B | $1.05B | $933.1M | $768.0M | $944.9M | $884.7M | $780.9M | $813.7M | $846.9M |
| Research & development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $693.3M | $617.2M | $593.0M | $514.4M | $368.2M | $497.5M | $516.7M | $436.8M | $456.9M | $499.5M |
| Total operating expenses | $709.1M | $730.1M | $658.6M | $596.3M | $401.7M | $526.7M | $536.8M | $450.6M | $472.2M | $511.2M |
| Operating income | $513.9M | $361.5M | $387.5M | $336.8M | $366.3M | $418.2M | $347.9M | $330.3M | $341.5M | $335.7M |
| Interest income | $23.4M | $17.3M | $23.5M | $30.8M | $10.9M | $19.5M | $4.4M | $4.3M | $10.5M | $5.2M |
| Interest expense | $12.7M | $12.7M | $12.5M | $11.1M | $1.8M | $2.7M | $5.0M | $5.9M | $4.8M | $4.2M |
| Income before taxes | $547.5M | $381.6M | $411.3M | $306.2M | $376.3M | $446.1M | $365.3M | $296.2M | $352.0M | $340.9M |
| Income taxes | $133.4M | $113.2M | $106.6M | $71.7M | $104.0M | $110.0M | $88.1M | $73.9M | $57.1M | $119.4M |
| Net income | $403.3M | $268.3M | $299.0M | $239.5M | $270.3M | $326.4M | $272.3M | $220.3M | $291.3M | $208.9M |
| EBITDA | $536.1M | $416.7M | $427.6M | $396.4M | $408.1M | $448.1M | $375.9M | $347.4M | $352.1M | $345.3M |
| EPS (diluted) | $4.99 | $3.19 | $3.41 | $2.66 | $2.75 | $3.21 | $2.68 | $2.18 | $2.19 | $2.01 |
| Gross margin | 67.9% | 66.9% | 65.0% | 64.5% | 59.1% | 65.2% | 66.7% | 68.8% | 73.8% | 74.1% |
| Operating margin | 28.5% | 22.1% | 24.1% | 23.3% | 28.2% | 28.9% | 26.2% | 29.1% | 31.0% | 29.4% |
| Net margin | 22.4% | 16.4% | 18.6% | 16.6% | 20.8% | 22.5% | 20.5% | 19.4% | 26.4% | 18.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $502.8M | $481.2M | $487.1M | $469.4M | $424.8M | $423.5M | $424.7M | $408.5M | $402.6M | $396.4M | $391.5M | $402.7M |
| Cost of revenue | $121.8M | $136.2M | $133.5M | $144.6M | $144.9M | $143.3M | $137.2M | $136.0M | $130.7M | $136.5M | $127.5M | $139.1M |
| Gross profit | $381.0M | $345.0M | $353.6M | $324.9M | $280.0M | $280.3M | $287.5M | $272.4M | $271.8M | $259.8M | $264.0M | $263.5M |
| Sales, general & admin | $234.8M | $135.7M | $140.2M | $175.2M | $157.6M | $52.7M | $160.3M | $154.6M | $152.9M | $149.3M | $148.4M | $143.1M |
| Total operating expenses | $248.1M | $218.2M | $216.7M | $195.4M | $162.9M | $148.5M | $177.1M | $160.7M | $231.1M | $161.2M | $161.4M | $162.1M |
| Operating income | $132.9M | $126.7M | $136.9M | $129.5M | $117.1M | $131.8M | $110.4M | $111.7M | $40.7M | $98.6M | $102.6M | $101.4M |
| Interest income | — | — | $435,000 | $8.1M | $12.1M | $2.8M | $537,000 | $9.4M | — | — | — | $171,000 |
| Interest expense | $3.2M | $3.2M | $3.2M | $3.2M | $3.2M | $3.2M | $3.2M | $3.2M | $3.2M | $3.1M | $3.1M | $3.1M |
| Income before taxes | $144.0M | $129.8M | $140.3M | $140.3M | $130.8M | $136.0M | $112.3M | $122.6M | $42.7M | $104.0M | $117.3M | $101.0M |
| Income taxes | $37.2M | $33.8M | $32.9M | $34.2M | $34.1M | $32.2M | $28.5M | $32.3M | $23.4M | $29.0M | $31.3M | $26.7M |
| Net income | $104.3M | $95.9M | $107.8M | $104.1M | $91.0M | $101.1M | $84.7M | $87.5M | $21.0M | $75.0M | $82.2M | $75.0M |
| EBITDA | $155.2M | $138.2M | $149.1M | $149.1M | $139.6M | $138.2M | $121.1M | $131.5M | $51.3M | $112.8M | $126.5M | $110.2M |
| EPS (diluted) | $1.38 | $1.27 | $1.39 | $1.34 | $1.16 | $1.10 | $1.04 | $1.06 | $0.20 | $0.89 | $0.96 | $0.86 |
| Gross margin | 75.8% | 71.7% | 72.6% | 69.2% | 65.9% | 66.2% | 67.7% | 66.7% | 67.5% | 65.6% | 67.4% | 65.4% |
| Operating margin | 26.4% | 26.3% | 28.1% | 27.6% | 27.6% | 31.1% | 26.0% | 27.4% | 10.1% | 24.9% | 26.2% | 25.2% |
| Net margin | 20.7% | 19.9% | 22.1% | 22.2% | 21.4% | 23.9% | 19.9% | 21.4% | 5.2% | 18.9% | 21.0% | 18.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FHI's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FHI financial results
In fiscal year 2025 (ended December 31, 2025), Federated Hermes reported revenue of $1.8 billion, up 10.3% from the year before. It had net income of $403.3 million (up 50.3%), a net profit margin of 22.4%. Diluted earnings per share came to $4.99. Over five years revenue grew at an average rate of 4.5% a year.
See the FHI stock overview for the latest quote and news, or the FHI chart for price history and technical indicators.
FHI income statement FAQ
What is Federated Hermes's annual revenue?
Federated Hermes reported total revenue of $1.8 billion for fiscal year 2025, which ended on December 31, 2025. That was up 10.3% from $1.6 billion the previous year.
Is Federated Hermes profitable?
Yes. Federated Hermes reported net income of $403.3 million in fiscal 2025, a net profit margin of 22.4%; its operating margin was 28.5%.
What is Federated Hermes's gross margin?
Federated Hermes's gross margin was 67.9% in fiscal 2025: for every $100 of revenue, Federated Hermes kept $68 after the direct cost of its products and services.
How fast is Federated Hermes growing?
Revenue grew 4.5% a year on average over the last five fiscal years, from $1.4 billion to $1.8 billion.
What are Federated Hermes's earnings per share?
Federated Hermes earned $4.99 per diluted share in fiscal 2025, compared with $3.19 a year earlier.
When will Federated Hermes report its next earnings?
Federated Hermes is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 after the market closes.
When does Federated Hermes's fiscal year end?
Federated Hermes's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.