Filing Flows › Cohen & Steers (CNS) › Q3 2026 › vs Q3 2025
Cohen & Steers (CNS) Q3 2026 vs Q3 2025 (year over year)
Cohen & Steers's revenue rose $15.7M (+11%) from $142M in Q3 2025 to $157M in Q3 2026. The biggest changes: Open-end funds +$10.2M (+12%); Institutional +$3.4M (+10%); Closed-end funds +$2.1M (+8%). Operating margin 32.4% against 34.5% (-2.1 pts).
Cohen & Steers, Q3 2026: revenue $157M (+11% year over year), operating margin 32.4%, net earnings $42.2M, operating cash flow $20.9M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 32.4% | 34.5% | -2.1 pts |
| Net margin | 26.8% | 29.4% | -2.6 pts |
| Free cash flow margin | 12.7% | 37.1% | -24.4 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Open-end funds | $92.5M | $82.3M | $10.2M | +12% |
| Institutional | $36.6M | $33.2M | $3.4M | +10% |
| Closed-end funds | $28.3M | $26.2M | $2.1M | +8% |
| Revenue | $157M | $142M | $15.7M | +11% |
| Other income, net | $4.9M | $6.7M | −$1.7M | -26% |
| Operating profit | $51.1M | $48.9M | $2.2M | +4% |
| Costs & expenses | $106M | $92.8M | $13.5M | +15% |
| Pre-tax earnings | $56.0M | $55.6M | $440K | +0.8% |
| General & admin | $17.5M | $16.8M | $750K | +4% |
| Other operating costs | $88.8M | $76.0M | $12.8M | +17% |
| Loss borne by minority interests | $1.4M | $77K | $1.3M | 18× |
| Net earnings | $42.2M | $41.7M | $533K | +1% |
| Income tax | $15.2M | $13.9M | $1.2M | +9% |
| Depreciation & amortization | $2.7M | $2.5M | $133K | +5% |
| Share-based compensation | $10.8M | $12.3M | −$1.6M | -13% |
| Working capital & other | $34.8M | $1.5M | $33.3M | 23× |
| Operating cash flow | $20.9M | $55.1M | −$34.2M | -62% |
| Free cash flow (OCF − capex) | $20.0M | $52.6M | −$32.6M | -62% |
| Capital expenditures | $879K | $2.5M | −$1.6M | -65% |
Questions
How much did Cohen & Steers's revenue grow year over year in Q3 2026?
Cohen & Steers's revenue rose $15.7M (+11%) from $142M in Q3 2025 to $157M in Q3 2026.
What drove Cohen & Steers's revenue change in Q3 2026?
Open-end funds +$10.2M (+12%); Institutional +$3.4M (+10%); Closed-end funds +$2.1M (+8%).