Filing Flows › Financials › Cohen & Steers (CNS)
Cohen & Steers (CNS) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Cohen & Steers (CNS) Q3 2026 earnings results →
Q3 2026 Revenue up 11% year over year to $157M · 27¢ of every $1 of revenue kept as net profit · operating margin 32.4%
Cohen & Steers made $157M in Q3 2026 (+11% Y/Y): Open-end funds $92.5M, Institutional $36.6M, Closed-end funds $28.3M. Operating margin 32.4%, net earnings $42.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $157.4M in Q3 2026, up 11% year over year and up 3% from the previous quarter. Open-end funds was the largest line at 59% of revenue. Open-end funds added $10.2M year over year (up 12%), 65% of the total change.
Operating profit was $51.1M, a 32.4% margin (down 2.1 points year over year). Of the extra revenue versus Q3 2025, 14% reached operating profit, below the 35% margin then. Total costs grew 15% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+17%). Net earnings were $42.2M, up 1% year over year ($40.8M including minority interests, which bore $1.4M of losses). The effective tax rate was 27.1%.
Operating cash flow was $20.9M (down 62% year over year), 51% of net income including minority interests. Non-cash charges added back $2.7M of depreciation and amortization and $10.8M of share-based compensation. Working capital and other items used $33.4M. Capital expenditures of $879K left free cash flow of $20.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 30, 2026 | $157M | +11% | 32.4% | $42.2M | $20.9M |
| Q2 2026 | 10-Q | Jul 31, 2026 | $153M | +12% | 34.6% | $49.3M | $67.4M |
| Q1 2026 | 10-Q | May 1, 2026 | $146M | +8% | 34.4% | $42.4M | −$51.4M |
| Q4 2025 | 10-K | Feb 27, 2026 | $144M | +3% | 28.0% | $34.9M | $1.1M |
| Q3 2025 | 10-Q | Oct 31, 2025 | $142M | +6% | 34.5% | $41.7M | $55.1M |
| Q2 2025 | 10-Q | Aug 1, 2025 | $136M | +12% | 31.8% | $36.8M | −$67.6M |
| Q1 2025 | 10-Q | May 2, 2025 | $134M | +10% | 33.6% | $39.8M | −$109M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
Customers and suppliers named in filings
Sells to
- Cohen & Steers Realty Shares, Inc. (CSR) — 12% of its revenue · Stated in 10-K (XBRL) · source
- Cohen & Steers Income Opportunities REIT, Inc. · Stated in 10-K (named, share not stated) · source
About Cohen & Steers
Cohen & Steers, founded in 1986, is a global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore, we serve institutional and individual investors around the world. Cohen & Steers, Inc. (CNS) was organized as a Delaware corporation on March 17, 2004. CNS is the holding company for its direct and indirect subsidiaries, including Cohen & Steers Capital Management, Inc. (CSCM), Cohen & Steers Securities, LLC (CSS), Cohen & Steers UK Limited (CSUK), Cohen & Steers Ireland Limited (CSIL), Cohen & Steers Asia Limited (CSAL), Cohen & Steers Japan Limited (CSJL) and Cohen & Steers Singapore Private Limited (CSSG).
In its own words, from its 10-K, filed Feb 27, 2026.
Cohen & Steers against its Investment Advice peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +6%. Operating margin: 32.4% against the peers' median 28.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CNS Cohen & Steers | Q3 2026 | $157M | +11% | 32.4% |
| KKR KKR | Q2 2026 | $5.7B | +12% | 24.0% |
| AMP Ameriprise Financial | Q3 2026 | $5.2B | +6% | 28.9% |
| APO Apollo Global Management | Q3 2026 | $4.7B | -52% | -30.9% |
| BX Blackstone | Q3 2026 | $3.1B | -0.8% | 46.9% |
| BEN Franklin Templeton | Q4 FY26 | $2.4B | +4% | 14.6% |
| TROW Price T Rowe Group | Q3 2026 | $2.0B | +6% | 38.4% |
| IVZ Invesco | Q3 2026 | $1.9B | +14% | 23.3% |
| BAM Brookfield Asset Management | Q2 2026 | $1.8B | +61% | 62.4% |
Source: Cohen & Steers 10-Q on SEC EDGAR · CIK 1284812 · Investment Advice
Guidance and outlook
13F: who owns CNS and who is buying
More on CNS
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results