COHEN & STEERS, INC.
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
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Consolidated Statements of Financial Condition
(in thousands, except share data)
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| Assets: | ||
| Cash and cash equivalents | $145,452 | $182,974 |
| Investments ($116,303 and $109,210) (1) | 436,485 | 335,377 |
| Accounts receivable | 79,775 | 74,389 |
| Due from brokers ($90 and $60) (1) | 1,865 | 1,474 |
| Property and equipment—net | 65,068 | 68,604 |
| Operating lease right-of-use assets—net | 97,342 | 99,200 |
| Goodwill and intangible assets—net | 20,040 | 18,756 |
| Other assets ($986 and $199) (1) | 30,667 | 31,592 |
| Total assets | $876,694 | $812,366 |
| Liabilities: | ||
| Accrued compensation and benefits | $80,614 | $71,049 |
| Distribution and service fees payable | 8,623 | 8,485 |
| Operating lease liabilities | 138,326 | 141,115 |
| Income tax payable | 1,650 | 4,601 |
| Due to brokers ($318 and $170) (1) | 319 | 2,111 |
| Other liabilities and accrued expenses ($673 and $333) (1) | 13,314 | 10,102 |
| Total liabilities | 242,846 | 237,463 |
| Commitments and contingencies (See Note 14) | ||
| Redeemable noncontrolling interests | 22,805 | 53,460 |
| Stockholders’ equity: | ||
| Common stock, $0.01 par value; 500,000,000 shares authorized; 58,275,965 shares issued and 51,032,114 shares outstanding at December 31, 2025 and 57,492,567 shares issued and 50,574,641 shares outstanding at December 31, 2024 | 583 | 575 |
| Additional paid-in capital | 992,948 | 943,281 |
| Accumulated deficit | (105,806) | (129,339) |
| Accumulated other comprehensive loss | (4,657) | (10,025) |
| Treasury stock, at cost, 7,243,851 and 6,917,926 shares at December 31, 2025 and 2024, respectively | (321,115) | (292,781) |
| Total stockholders’ equity attributable to Cohen & Steers, Inc. | 561,953 | 511,711 |
| Nonredeemable noncontrolling interests | 49,090 | 9,732 |
| Total stockholders’ equity | 611,043 | 521,443 |
| Total liabilities, redeemable noncontrolling interests and stockholders’ equity | $876,694 | $812,366 |
(1) Amounts in parentheses represent the aggregate balancesas of December 31, 2025 and 2024 attributable to variable interest entities (VIEs) consolidated by the Company. The assets may only be used to settle obligations of each VIE and the liabilities are the sole obligation of each VIE, for which creditors do not have recourse to the general credit of the Company.
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