Cohen & Steers Reports 11.8% Revenue Growth to $136.1 Million in Q2 2025

Cohen & Steers, Inc. reported a notable increase in financial performance for the second quarter of 2025, with total revenue reaching $136.1 million, up 11.8% from $121.7 million in the same period last year. The company's investment advisory and administration fees contributed significantly to this growth, totaling $128.5 million, a 12.2% increase from $114.6 million in the prior year. Net income attributable to common stockholders also rose, amounting to $36.8 million, compared to $31.8 million in the second quarter of 2024, resulting in diluted earnings per share of $0.72, up from $0.63.

In the first half of 2025, Cohen & Steers experienced a 10.7% increase in total revenue, which reached $270.6 million, compared to $244.4 million in the first half of 2024. The growth was driven by higher average assets under management, particularly in open-end funds, which saw a 15.8% increase in advisory fees. The company’s total assets under management rose to $88.9 billion, a 10.2% increase from $80.7 billion a year earlier, reflecting strong market appreciation and net inflows.

Operationally, Cohen & Steers launched its first active exchange-traded funds (ETFs) during the first quarter of 2025, marking a strategic expansion into new investment vehicles. The company also reported a significant increase in its employee compensation and benefits expenses, which rose to $56.6 million in the second quarter, primarily due to higher incentive compensation. The total employee headcount remained stable, supporting the company's operational needs amid its growth trajectory.

The company’s balance sheet showed total assets of $751.0 million as of June 30, 2025, down from $812.4 million at the end of 2024, largely due to a decrease in cash and cash equivalents. Total liabilities also decreased to $208.7 million from $237.5 million, reflecting a reduction in accrued compensation and benefits. Cohen & Steers maintained a strong liquidity position, with net liquid assets of $325.0 million, providing flexibility for future investments and operational needs.

Looking ahead, Cohen & Steers anticipates continued growth driven by its diversified investment strategies and disciplined cost management. The company is focused on navigating the current macroeconomic environment, characterized by inflationary pressures and market volatility, while leveraging its expertise in real assets and alternative income strategies. The board of directors has declared a quarterly dividend of $0.62 per share, payable on August 21, 2025, indicating confidence in the company’s financial health and commitment to returning value to shareholders.