Cohen & Steers, Inc. (CNS) Fundamental Analysis: Bull vs. Bear Case

CNS

Cohen & Steers, Inc.

Fundamental data last updated:October 24, 2026

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company profile

SECTOR

Financial Services

industry

Asset Management

Exchange

NYSE

County of HQ

US

Next Earnings Date

Pending Announcement

Business Summary

Cohen & Steers, Inc. is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries. The firm launches and manages equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries. Through its subsidiaries, it also launches and manages hedge funds. The firm invests in public equity, fixed income, and commodity markets across the globe through its subsidiaries. Through its subsidiaries, it invests in companies operating in the real estate sector, including real estate investment trusts, infrastructure sector, and natural energy resources sector for its equity and fixed income investments. The firm also invests in preferred securities for its fixed income investments through its subsidiaries. Cohen & Steers, Inc. was founded in 1986 and is based in New York, with additional offices in London, United Kingdom; Central, Hong Kong; Tokyo, Japan; and Seattle, Washington.

VALUATION

P/E

22.77 Market Cap ($M USD)

$3.55B

Forward P/E

17.78 PEG

0.63 PRICE TO SALES

6.17 PRICE TO BOOK

6.30 EV / EBITDA

17.55 5-Year Average P/E

Free Cash Flow Yield

-0.36%

DCF Value

$35.48

Graham Number

$27.32

Price to FCF

-276.51

EV to FCF

-283.00

Earnings Yield

4.39%

FCF Yield

-0.36%

DIVIDEND

Yield

3.74%

Annual Payout

$2.58

Payout Ratio

83.27%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$3.03

Next Year EPS Growth Estimate

$3.88

Next Year Revenue Growth Estimate

$551.62M

Return on Equity (ROE)

28.28%

FREE CASH FLOW

Operating Margin

31.96%

Debt-to-Equity

0.25 Piotroski F-Score

3 Altman Z-Score

13.21 Return on Invested Capital (ROIC)

21.86%

Current Ratio

9.86 Quick Ratio

9.86 Net Debt to EBITDA

0.40 Interest Coverage

0.00 Gross Profit margin

66.41%

FCF PER SHARE

$-0.25

REVENUE PER SHARE

$11.17

Gainseekers Quantitative Analysis

Summary

Cohen & Steers, Inc. appears to be significantly overvalued based on its DCF Value and Graham Number, trading well above both benchmarks. The Forward P/E of 18.75 suggests some optimism about future earnings, yet the Earnings Yield of just 4.16% indicates a modest return relative to its price. The Altman Z-score of 13.41, however, signals strong financial health and low bankruptcy risk. Despite these strengths, the market seems to be pricing in perfection, leaving little room for error.

AI Exposure / Tech Reliance

As an asset management firm, Cohen & Steers is well-positioned to leverage AI and tech advancements to enhance portfolio management and client services. The industry's shift towards data-driven decision-making aligns with their capabilities. However, adaptation speed will be crucial to maintain competitive advantage.

The Bull Case

For the value or GARP investor, Cohen & Steers offers compelling reasons to consider a position. The robust ROIC of 21.63% highlights efficient capital use, while the operating margin of 31.96% underscores strong pricing power. Despite a low Piotroski F-Score of 4, the company's ability to generate returns is evident. These factors suggest a well-managed firm capable of delivering shareholder value.

The Bear Case

On the flip side, the stock's high Price/Book ratio of 6.64 and Price/Sales ratio of 6.51 raise red flags about overvaluation. The negative FCF Yield and Price to FCF ratio indicate poor cash flow generation, a critical weakness. With the stock trading near its 52-week high, it appears technically overextended. These factors could deter risk-averse investors.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Sell

Average Analyst Price Target

$76.00

Institutional Ownership %

1-Year Beta

1.26 Insider Buying % (6 Mo)

Distance to 52-Week High

14.27%

Distance to 52-Week Low

15.34%

EARNINGS SURPRISE %

-3.66%

50-DAY SMA

$67.26

200-DAY SMA

$66.96

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.