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Hamilton Lane vs Cohen & Steers: HLNE and CNS compared
Hamilton Lane is the larger company: $204M of revenue in its latest quarter (Q2 FY27) against $157M for Cohen & Steers (Q3 2026). Cohen & Steers is growing faster (+11% against +7% a year earlier). Hamilton Lane is more profitable, with an operating margin of 87.4% against 32.4%.
Where the money goes: HLNE and CNS
Hamilton Lane (HLNE) · Q2 FY27
Hamilton Lane, Q2 FY27: revenue $204M (+7% year over year), operating margin 87.4%, net earnings $77.5M, operating cash flow $28.1M. The chart follows the revenue to costs, profit and cash.
Cohen & Steers (CNS) · Q3 2026
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 follows the revenue to costs, profit and cash.
| Hamilton Lane (HLNE) | Cohen & Steers (CNS) | |
|---|---|---|
| Latest quarter | Q2 FY27 | Q3 2026 |
| Revenue | $204M | $157M |
| Revenue growth, Y/Y | +7% | +11% |
| Operating margin | 87.4% | 32.4% |
| Net earnings | $77.5M | $42.2M |
| Net margin | 37.9% | 26.8% |
| Operating cash flow | $28.1M | $20.9M |
| Free cash flow | $22.8M | $20.0M |
| Market value | $5.6B | $3.6B |
| P/E | 19.9× | 21.3× |
| Analysts’ mean target | $125.00 | $69.33 |
Where the revenue comes from
Hamilton Lane
- Management and advisory fees: $164M (80%)
- Customized separate accounts: $34.0M (17%)
- Fund reimbursement revenue: $4.4M (2%)
- Distribution management: $1.7M (1%)
Cohen & Steers
- Open-end funds: $92.5M (59%)
- Institutional: $36.6M (23%)
- Closed-end funds: $28.3M (18%)
Questions
Which is bigger, Hamilton Lane or Cohen & Steers?
Hamilton Lane is the larger company: $204M of revenue in its latest quarter (Q2 FY27) against $157M for Cohen & Steers (Q3 2026).
Is Hamilton Lane or Cohen & Steers growing faster?
Cohen & Steers is growing faster (+11% against +7% a year earlier).
Which is more profitable, Hamilton Lane or Cohen & Steers?
Hamilton Lane is more profitable, with an operating margin of 87.4% against 32.4%.
More: Hamilton Lane earnings · how Hamilton Lane makes money · Cohen & Steers earnings · how Cohen & Steers makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 10-Q filed Oct 30, 2026). Fiscal quarters can end on different dates. Not investment advice.