Cohen & Steers(US:CNS)2026-01-22 21:24Financial Performance - Revenue for Q4 2025 was $143.8 million, a 1.5% increase from $141.7 million in Q3 2025[4] - Operating income for Q4 2025 was $40.3 million, resulting in an operating margin of 28.0%, down from 34.5% in Q3 2025[4][8] - Net income attributable to common stockholders for Q4 2025 was $34.9 million, with diluted earnings per share of $0.68[4] - Total revenue for Q4 2025 was $143.8 million, representing a 1.5% increase from Q3 2025 and a 2.9% increase from Q4 2024[21] - Net income attributable to common stockholders for Q4 2025 was $34.9 million, a decrease of 16.4% compared to Q3 2025 and a decrease of 23.9% compared to Q4 2024[21] - Total revenue for the year ended December 31, 2025, was $556.1 million, reflecting a 7.5% increase from $517.4 million in 2024[23] - Operating income for the year ended December 31, 2025, was $177.7 million, a 2.8% increase from $172.9 million in 2024[23] - Earnings per share (EPS) for Q4 2025 was $0.68, down 16.4% from $0.81 in Q3 2025 and down 24.4% from $0.90 in Q4 2024[21] - Diluted earnings per share (EPS) for the year ended December 31, 2025, was $2.97, unchanged from the previous year[34] Assets Under Management (AUM) - Assets under management (AUM) at December 31, 2025, were $90.5 billion, a decrease of 0.4% from $90.9 billion at September 30, 2025[12] - Average AUM increased to $90,751 million, reflecting a 1.1% rise from $89,738 million in the previous quarter[25] - Total assets under management at the end of the period were $12.04 billion, up 6.7% from $11.29 billion[26] - Assets under management (AUM) increased to $20,843 million, representing an 8.2% growth year-over-year[28] - Assets under management (AUM) increased to $90,544 million at the end of December 2025, a 5.5% increase from $85,814 million in December 2024[32] Inflows and Outflows - Net inflows for Q4 2025 totaled $1.2 billion, contributing to the overall AUM despite market depreciation[12] - Total inflows for the quarter were $5,790 million, compared to $3,962 million in the prior quarter, representing a significant increase[25] - Net inflows for the quarter were $1,207 million, up from $233 million in the previous quarter, indicating strong demand[25] - Total inflows for the year ended December 31, 2025, were $18,200 million, compared to $17,948 million in 2024[32] - Net inflows for the total AUM were $1,531 million for the year ended December 31, 2025, compared to a net outflow of $171 million in the previous year[32] Expenses - Total expenses for Q4 2025 were $103.5 million, an increase of 11.5% from $92.8 million in Q3 2025[4] - Employee compensation and benefits decreased by 2.0% to $56.1 million in Q4 2025 compared to Q3 2025[7] - Total expenses for Q4 2025 were $103.5 million, an increase of 11.5% from Q3 2025 and an increase of 14.4% from Q4 2024[21] - The company incurred $10.814 million in fund launch and rights offering costs in Q4 2025[38] Market Performance - The company reported a foreign currency loss of $991,000 in Q4 2025, compared to a gain of $859,000 in Q3 2025[21] - The company experienced market appreciation of $6,063 million for the total AUM in 2025, compared to $5,420 million in 2024[32] - Market depreciation for the quarter was $685 million, contrasting with a market appreciation of $2,355 million in the prior quarter[25] Future Outlook - The company expects to see continued growth in revenue and operating income in the upcoming quarters, driven by strategic market expansions and new product launches[38] - The lease for the prior headquarters is set to expire in January 2024, which may lead to cost savings in future periods[39]