Short answer
COHEN & STEERS, INC. (CNS) filed its fiscal 2025 10-K annual report with the SEC on Feb 27, 2026. It reported revenue of $556M (+7.5% year over year) and net income of $153M.
- Top risk flagged: Key-person dependency on CISO with 25+ years cybersecurity experience and FINRA Series 99 registration
FY2025 key financial metrics · XBRL
- Revenue
- $556M
- +7.5% YoY
- Net income
- $153M
- +1.3% YoY
- Operating margin
- 32.0%
- −1.5 pp YoY
- EPS (diluted)
- $2.97
- +0.0% YoY
- ROE
- 27.3%
- −2.3 pp YoY
- Operating cash flow
- −$120M
- −224.6% YoY
Source: XBRL data from the COHEN & STEERS, INC. (CNS) FY2025 10-K on SEC EDGAR. USD.
COHEN & STEERS, INC. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Asset management with focus on real estate, preferred securities, and infrastructure investment strategies
- New emphasis on growing Global Listed Infrastructure AUM, increased 30.3% to $11.5 billion in 2025 from $8.8 billion in 2024
- Strategic shift: Fund launch and UTF rights offering in 2025 contributed $621M net inflows to closed-end funds, indicating capital raising and product expansion
- AUM increased 5.5% to $90.5B driven by $1.5B net inflows and $6.1B market appreciation, despite $2.9B distributions
- Noteworthy: Operating margin decreased to 32.0% from 33.4% in prior year, impacted by $11.5M UTF rights offering costs and higher expenses despite revenue growth
Management Discussion & Analysis
- Cash flow, buybacks, dividends, and capital expenditure not mentioned
- Forward-looking statements include risks and uncertainties but no specific guidance or outlook provided
Risk Factors
- Key-person dependency on CISO with 25+ years cybersecurity experience and FINRA Series 99 registration
- Audit committee oversees cybersecurity program and cyber insurance coverage, reviewing at least annually
- No material cybersecurity incidents reported as of December 31, 2025 impacting operations or financial condition
Generated from the filing text; verify against the original. How to read a 10-K
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