Financials Cohen & Steers, Inc.

Equities

CNS

US19247A1007

Investment Management & Fund Operators

Market Closed - Nyse Other stock markets 04:00:02 2023-12-04 pm EST			5-day change	1st Jan Change
61.24 ^USD	+1.04%		+8.41%	-5.14%

Nov. 10	U.S. Currency	FA
Nov. 02	Cohen & Steers, Inc. Declares Quarterly Dividend, Payable on November 28, 2023	CI

Valuation

Fiscal Period : December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	1 605	2 965	3 550	4 464	3 144	3 009	-	-
Enterprise Value (EV) ¹	1 287	2 965	3 550	4 464	3 144	3 009	3 009	3 009
P/E ratio	14,3x	22,5x	47,3x	21,5x	18,6x	23,7x	22,4x	20,7x
Yield	11,1%	5,48%	3,45%	1,95%	-	3,72%	3,72%	5,76%
Capitalization / Revenue	4,21x	7,22x	8,30x	7,65x	5,55x	6,21x	6,58x	6,56x
EV / Revenue	4,21x	7,22x	8,30x	7,65x	5,55x	6,21x	6,58x	6,56x
EV / EBITDA	10,6x	17,7x	20,4x	16,9x	14,3x	17,9x	19,1x	19,3x
EV / FCF	23,2x	21,4x	41,0x	18,6x	54,7x	24,9x	14,7x	13,5x
FCF Yield	4,31%	4,68%	2,44%	5,38%	1,83%	4,02%	6,81%	7,41%
Price to Book	-	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	46 765	47 248	47 786	48 257	48 706	49 139	-	-
Reference price ²	34,3	62,8	74,3	92,5	64,6	61,2	61,2	61,2
Announcement Date	01/23/19	01/22/20	01/27/21	01/26/22	01/25/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period : December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	381	411	428	584	567	484	458	459
EBITDA ¹	152	167	174	264	220	168	158	156
EBIT ¹	147	163	169	260	216	164	153	151
Operating Margin	38,6%	39,6%	39,6%	44,6%	38,1%	33,9%	33,4%	33,0%
Earnings before Tax (EBT) ¹	144	188	93,4	282	197	159	167	180
Net income ¹	114	135	76,6	211	171	128	135	145
Net margin	29,9%	32,8%	17,9%	36,2%	30,2%	26,3%	29,5%	31,6%
EPS ²	2,40	2,79	1,57	4,31	3,47	2,58	2,74	2,96
Free Cash Flow ¹	69,1	139	86,7	240	57,5	121	205	223
FCF margin	18,1%	33,8%	20,3%	41,1%	10,1%	25,0%	44,8%	48,6%
FCF Conversion (EBITDA)	45,6%	83,0%	49,8%	90,8%	26,1%	72,0%	130%	143%
FCF Conversion (Net income)	60,7%	103%	113%	114%	33,6%	94,8%	152%	154%
Dividend per Share ²	3,82	3,44	2,56	1,80	-	2,28	2,28	3,53
Announcement Date	23/01/19	22/01/20	27/01/21	26/01/22	25/01/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period : December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	144	154	160	154	147	140	125	126	121	114	111	113	115	118
EBITDA	63,6	69,2	81,4	52,0	-	-	-	-	-	-	-	-	-	-
EBIT ¹	62,6	68,2	80,5	51,0	61,0	57,2	46,8	-	40,8	37,7	35,6	37,4	39,7	40,2
Operating Margin	43,4%	44,3%	50,4%	33,1%	41,4%	40,9%	37,3%	-	33,9%	33,1%	32,0%	33,0%	34,5%	34,0%
Earnings before Tax (EBT) ¹	68,2	69,5	87,3	56,1	36,0	55,2	49,6	-	43,5	33,7	34,8	38,4	45,7	47,8
Net income ¹	46,6	51,5	64,5	42,0	52,0	44,6	32,5	35,3	31,8	28,4	28,8	31,4	36,7	38,3
Net margin	32,3%	33,4%	40,4%	27,3%	35,2%	31,8%	25,9%	28,0%	26,3%	24,9%	25,9%	27,8%	31,9%	32,4%
EPS ²	0,95	1,05	1,30	0,85	1,06	0,90	0,66	0,71	0,64	0,57	0,58	0,64	0,75	0,78
Dividend per Share ²	0,45	0,45	0,45	0,55	0,55	-	-	-	0,57	0,57	0,57	0,57	0,57	0,57
Announcement Date	21/07/21	20/10/21	26/01/22	20/04/22	20/07/22	19/10/22	25/01/23	19/04/23	19/07/23	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period : December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	318	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	69,1	139	86,7	240	57,5	121	205	223
ROE (net income / shareholders' equity)	45,7%	61,7%	39,5%	98,5%	57,7%	36,9%	38,2%	43,8%
Shareholders' equity ¹	249	218	194	215	296	346	354	331
ROA (Net income/ Total Assets)	27,0%	30,5%	20,4%	50,3%	29,3%	19,4%	20,7%	22,0%
Assets ¹	422	442	375	421	583	658	653	660
Book Value Per Share	-	-	-	-	-	-	-	-
Cash Flow per Share ²	-	-	-	4,95	1,25	2,85	4,24	4,64
Capex ¹	3,47	2,75	2,50	2,70	4,22	20,1	5,00	4,59
Capex / Sales	0,91%	0,67%	0,59%	0,46%	0,74%	4,16%	1,09%	1,00%
Announcement Date	23/01/19	22/01/20	27/01/21	26/01/22	25/01/23	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Cohen & Steers, Inc.

Trading Rating :

Investor Rating :

ESG Refinitiv :

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

61.24USD

Average target price

55.5USD

Spread / Average Target

-9.37%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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Investment Management