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Cohen & Steers cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$20.0M in Q3 2026 · $35.8M over twelve months

Operating cash flow$20.9M
Capital spending−$879K
Free cash flow+$20.0M
Cash / net income0.5×

Analysis

In Q3 2026, Cohen & Steers generated $20.9M of operating cash flow and spent $879K on capital projects, leaving free cash flow of $20.0M. That is $32.6M less than in Q3 2025 ($52.6M).

Over the twelve months to Sep 30, 2026, operating cash flow was $37.9M; the largest uses were dividends ($135M), other investing ($32.2M), buybacks ($19.2M); besides operations, cash came from partners ($118M), other financing ($1.1M); the cash balance fell by $31.6M.

Operating cash flow was $20.9M against net income of $40.8M — 0.5× profit, less cash than reported earnings, worth checking against working capital. The largest differences: employee-related liabilities +$26.1M, stock-based pay +$10.8M, receivables −$5.4M.

Free cash flow

Cohen & Steers: free cash flow by quarterCohen & Steers: free cash flow by quarter$33.1MQ4 2024−$110MQ1 2025−$69.8MQ2 2025$52.6MQ3 2025$776KQ4 2025−$51.4MQ1 2026$67.4MQ2 2026$20.0MQ3 2026
Operating cash flow less capital spending.
Cohen & Steers: operating cash flow against capital spendingCohen & Steers: operating cash flow against capital spendingOperating cash flowCapital spending$34.8M$1.7MQ4 2024−$109M$1.1MQ1 2025−$67.6M$2.1MQ2 2025$55.1M$2.5MQ3 2025$1.1M$282KQ4 2025−$51.4M$0Q1 2026$67.4M$0Q2 2026$20.9M$879KQ3 2026
Latest (Q3 2026): Operating cash flow $20.9M, Capital spending $879K.

Capital allocation, year by year

Cohen & Steers: where the cash came from (up) and went (down), by fiscal yearCohen & Steers: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingBuybacksDividendsFY2021: Operating cash flow $243MFY2021: Shares issued $1.0MFY2021: Capital spending −$2.7MFY2021: Buybacks −$22.6MFY2021: Dividends −$148M$244MFY2021FY2022: Operating cash flow $61.7MFY2022: Shares issued $1.0MFY2022: Capital spending −$4.2MFY2022: Buybacks −$26.8MFY2022: Dividends −$107M$62.7MFY2022FY2023: Operating cash flow $172MFY2023: Shares issued $1.1MFY2023: Capital spending −$57.0MFY2023: Buybacks −$21.5MFY2023: Dividends −$112M$173MFY2023FY2024: Operating cash flow $96.7MFY2024: Shares issued $1.1MFY2024: Capital spending −$11.7MFY2024: Buybacks −$21.1MFY2024: Dividends −$119M$97.8MFY2024FY2025: Operating cash flow −$120MFY2025: Shares issued $961KFY2025: Capital spending −$6.0MFY2025: Buybacks −$28.4MFY2025: Dividends −$127M$961KFY2025
Over these 5 years operating cash flow totalled $453M; the largest uses were dividends ($613M) and buybacks ($120M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$66.1M
Debtnone
Net cash$66.1M

Cohen & Steers funds itself: free cash flow was $35.8M over the last twelve months, with $66.1M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Cohen & Steers: sources (+) and uses (−) of cash, Q3 2026Cohen & Steers: sources (+) and uses (−) of cash, Q3 2026Dividends−$34.5MPartners$32.7MOperating cash flow$20.9MOther investing−$12.8MCash drawn (+) / kept (−)−$5.2MCapital spending−$879KBuybacks−$358KOther financing$236KExchange rates−$32K
Cohen & Steers: sources (+) and uses (−) of cash, TTM to Q3 2026Cohen & Steers: sources (+) and uses (−) of cash, TTM to Q3 2026Dividends−$135MPartners$118MOperating cash flow$37.9MOther investing−$32.2MCash drawn (+) / kept (−)$31.6MBuybacks−$19.2MCapital spending−$2.2MOther financing$1.1MExchange rates−$109K

From profit to cash

Cohen & Steers: net income to operating cash flow, Q3 2026Cohen & Steers: net income to operating cash flow, Q3 2026Net income$40.8MDepreciation & amortization$2.7MStock-based pay$10.8MDeferred taxes−$1.8MGains on investments$1.3MReceivables−$5.4MPayables−$55KEmployee-related liabilities$26.1MPrepaid and other assets−$391KIncome taxes payable$2.3MOperating cash flow$20.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$20.9M−$879K−$358K−$34.5M—−$5.2M$20.0M
Q2 2026$67.4M—−$394K−$34.5M—−$5.5M$67.4M
Q1 2026−$51.4M—−$16.9M−$34.5M$401K$90.3M−$51.4M
Q4 2025$1.1M−$282K−$1.6M−$31.8M—−$48.0M$776K
Q3 2025$55.1M−$2.5M−$258K−$31.7M—−$2.9M$52.6M
Q2 2025−$67.6M−$2.1M−$621K−$31.7M—−$29.6M−$69.8M
Q1 2025−$109M−$1.1M−$26.0M−$31.7M$329K$117M−$110M
Q4 2024$34.8M−$1.7M−$1.5M−$30.0M—−$67.5M$33.1M

Cohen & Steers: income statement and cash flow

Cohen & Steers, Q3 2026: revenue $157M (+11% year over year), operating margin 32.4%. The chart follows the revenue to costs, profit and cash.

Cohen & Steers: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.