Cohen & Steers Inc

CNS: XNYS (USA)

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Cohen & Steers Earnings: Flows Turn Positive in Third Quarter, but Scale of Recovery Weighs on FVE

Greggory Warren

Oct 16, 2025

Cohen & Steers ended September 2025 with $90.9 billion in assets under management, or AUM. With average AUM and the firm's realization rate up year over year, third-quarter revenue grew 6.4%. Adjusted operating margins increased 40 basis points year over year to 36.1%, in line with our expectations.

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Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

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We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.

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Cohen & Steers Inc

Cohen & Steers Earnings: Flows Turn Positive in Third Quarter, but Scale of Recovery Weighs on FVE

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