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Federated Hermes (FHI) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Federated Hermes (FHI) Q3 2026 earnings results →
Q3 2026 Revenue up 8% year over year to $507M · 22¢ of every $1 of revenue kept as net profit · operating margin 30.2%
Federated Hermes made $507M in Q3 2026 (+8% Y/Y): Federated Hermes Funds $434M, Separate Accounts $69.9M, Other $3.8M. Operating margin 30.2%, net earnings $112M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.
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What changed this quarter
Revenue was $507.3M in Q3 2026, up 8% year over year and up 1% from the previous quarter. Federated Hermes Funds was the largest line at 85% of revenue. Federated Hermes Funds added $40.4M year over year (up 10%), 107% of the total change. Other declined 64%.
Operating profit was $153.3M, a 30.2% margin (up 2.6 points year over year). Of the extra revenue versus Q3 2025, 63% reached operating profit, above the 28% margin then. Total costs grew 4% against revenue growth of 8%. Net earnings were $111.9M, up 7% year over year ($110.9M including minority interests, which bore $1.0M of losses). The effective tax rate was 27.1%.
Operating cash flow was $134.2M (up 30% year over year), 121% of net earnings. Non-cash charges added back $5.9M of share-based compensation. Working capital and other items added $17.4M. Capital expenditures of $13.9M left free cash flow of $120.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 30, 2026 | $507M | +8% | 30.2% | $112M | $134M |
| Q2 2026 | 10-Q | Jul 31, 2026 | $503M | +18% | 26.4% | $104M | $80.9M |
| Q1 2026 | 10-Q | May 1, 2026 | $479M | +13% | 26.4% | $96.4M | $28.8M |
| Q4 2025 | 10-K | Feb 27, 2026 | $483M | +14% | 28.1% | $107M | $161M |
| Q3 2025 | 10-Q | Oct 31, 2025 | $469M | +15% | 27.6% | $104M | $103M |
| Q2 2025 | 10-Q | Aug 1, 2025 | $425M | +6% | 27.6% | $91.0M | $18.8M |
| Q1 2025 | 10-Q | Apr 25, 2025 | $424M | +7% | 31.1% | $101M | $14.3M |
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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📈Investments: gains and what it boughtinteractive
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Customers and suppliers named in filings
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About Federated Hermes
Federated Hermes, Inc. is a global leader in active investment management, with $911.6 billion in assets under management 1 . We deliver investment solutions that help investors target a broad range of outcomes and provide equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies to more than 11,000 institutions and intermediaries worldwide. Our clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. Headquartered in Pittsburgh, Federated Hermes has more than 2,200 employees in London, New York, Boston and offices worldwide .
In its own words, from its 8-K, filed Jul 30, 2026.
Federated Hermes against its Investment Advice peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +8% against the peers' median +6%. Operating margin: 30.2% against the peers' median 28.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FHI Federated Hermes | Q3 2026 | $507M | +8% | 30.2% |
| 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: Federated Hermes 10-Q on SEC EDGAR · CIK 1056288 · Investment Advice
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History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results