Q4 25 EPS
$0.81
BEAT +0.00%
Est. $0.81
Q4 25 Revenue
$143.8M
BEAT +0.44%
Est. $143.2M
vs S&P Since Q4 25
+5.3%
BEATING MARKET
CNS +11.7% vs S&P +6.4%
Full Year 2025 Results
FY 25 EPS
$3.09
FY 25 Revenue
$556.1M
Market Reaction
Did CNS Beat Earnings? Q4 2025 Results
Cohen & Steers delivered a steady but unspectacular fourth quarter, matching Wall Street's adjusted EPS estimate of $0.81 precisely while nudging revenue of $143.80 million just ahead of the $143.18 million consensus, a 0.44% beat, though revenue sti… Read more Cohen & Steers delivered a steady but unspectacular fourth quarter, matching Wall Street's adjusted EPS estimate of $0.81 precisely while nudging revenue of $143.80 million just ahead of the $143.18 million consensus, a 0.44% beat, though revenue still slipped 0.6% from a year ago. The headline numbers masked meaningful cross-currents beneath the surface: $10.80 million in one-time expenses tied to the Cohen & Steers Infrastructure Fund rights offering compressed the GAAP operating margin to 28.0%, down sharply from 34.5% in Q3, even as the adjusted margin held relatively firm at 36.4%. That same rights offering, which raised $513.00 million in fresh capital, helped drive $1.20 billion in net inflows for the quarter, pushing full-year net flows to $1.53 billion and marking a meaningful reversal from net outflows of $171.00 million in fiscal 2024. Total assets under management ended the quarter at $90.50 billion, with analysts on the earnings call pressing management on operating leverage and the scalability of the firm's active ETF strategy as key growth levers heading into 2026.
Key Takeaways
- • Higher average assets under management drove sequential revenue increase
- • Performance fees of $1.7 million recognized in Q4
- • UTF rights offering raised $513 million in new closed-end fund assets
- • Net inflows of $1.2 billion in Q4, driven by institutional advisory accounts
- • Global listed infrastructure AUM grew 30.3% year-over-year to $11.5 billion
- • Employee compensation and benefits decreased 2.0% sequentially due to lower incentive compensation
CNS YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
CNS Revenue by Segment
With YoY comparisons, source: SEC Filings
CNS Earnings Trends
CNS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CNS EPS Trend
Earnings per share: estimate vs actual
CNS Revenue Trend
Quarterly revenue: estimate vs actual
CNS Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.82 | $0.79 | -3.66% | $145.6M | +1.71% |
| Q4 25 BEAT FY | $0.81 | $0.81 | +0.00% | $143.8M | +0.44% |
| FY Full Year | — | $3.09 | — | $556.1M | — |
| Q3 25 BEAT | $0.78 | $0.81 | +3.85% | $141.7M | +2.08% |
| Q2 25 MISS | $0.76 | $0.73 | -3.31% | $136.1M | +0.47% |
| Q1 25 BEAT | $0.72 | $0.75 | +4.17% | $134.5M | -5.26% |
| Q4 24 BEAT FY | $0.74 | $0.78 | +4.99% | $139.8M | +1.13% |
| FY Full Year | — | $2.93 | — | $517.4M | — |