Saturday 17 October 2026 Export FHI’s income statement to Excel — free account

Federated Hermes, Inc.

Federated Hermes, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, up 10.3% from fiscal 2024. In the quarter to June 2026, revenue grew 18.3%, EPS grew 19.0%, free cash flow grew 342.7% and total debt was flat, each against the same quarter a year earlier. Revenue growth for three consecutive years.

55.85 0.62 −1.10%

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Market cap: $4.2B
P/E: 10.4×
Fwd P/E: 11.3×
Dividend yield: 2.58%
F-score: 7/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 13.04

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	10	1	—	2	6	—	4	3	—	2	—	—

Insider Ownership 1.15%

Capital & Financial Ratios $m

Market Cap 4,220.00

Revenue 1,934.01

Net Income 416.29

Free Cash Flow 366.94

Net Debt 46.77

Current Ratio 2.59

Debt/Equity 0.28

P/E ratio 10.38

Fwd P/E 11.30

P/S ratio 2.08

P/B ratio 3.21

Past 5Y EPS Growth 9.69%

This Y EPS Growth 6.87%

Next Y EPS Growth 6.86%

Next Y revenue growth 10.51%

Next 5Y EPS Growth 8.43%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 25.91%

10-year low 10-year high

P/S against its own 10 years 32.69%

10-year low 10-year high

P/B against its own 10 years 57.69%

10-year low 10-year high

Dividends

Payout Ratio 0.27

Annual Dividend Rate 1.44

Annual Dividend Yield 2.58%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.50	0.34 0.38 0.38
2025	1.33	0.31 0.34 0.34 0.34
2024	0.90	0.28 1.00 0.31 0.31
2023	1.15	0.27 0.28 0.28 0.04 0.28
2022	1.08	0.27 0.27 0.27 0.27
2021	1.08	0.27 0.27 0.27 0.27
2020	0.81	0.27 0.27 0.27 1.00
2019	1.08	0.27 0.27 0.27 0.27
2018	1.06	0.25 0.27 0.27 0.27
2017	1.00	0.25 0.25 0.25 0.25
2016	0.75	0.25 0.25 0.25 1.25

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	383	504	583	302
Receivables	124	106	90	124
Inventory	177	137	142	179
Other	6	5	13	13
	721	781	864	661

	2023	2024	2025	Q'26
Payables	88	100	99	104
ST’ Debt	—	—	—	—
Other	24	15	19	22
	287	289	314	255

Compound Annual Growth %

	10y	5y	3y
Sales	6.87%	4.45%	7.59%
Cash Flow	2.46%	(4.44%)	(2.82%)
Earnings	8.97%	4.34%	19.16%
Book Value	6.31%	1.03%	4.61%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	479	503	—	—	—
’25	424	425	469	483	1,801
’24	396	403	408	425	1,632
’23	382	433	403	391	1,610
’22	325	366	381	374	1,446
’21	341	311	327	322	1,300
’20	359	361	364	364	1,448

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	29	81	—	—	—
’25	14	19	103	161	297
’24	14	89	117	127	347
’23	5	71	106	130	312
’22	(19)	99	112	132	324
’21	(30)	85	46	69	170
’20	29	124	90	130	373

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	24	80	—	—	—
’25	13	18	102	162	295
’24	13	83	120	126	343
’23	5	68	104	128	304
’22	(21)	98	111	132	320
’21	(32)	84	42	67	155
’20	28	121	86	125	360

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.27	1.38	—	—	—
’25	1.25	1.16	1.34	1.39	5.13
’24	0.89	0.20	1.06	1.04	3.23
’23	0.78	0.81	0.86	0.96	3.40
’22	0.61	0.64	0.78	0.63	2.65
’21	0.75	0.56	0.73	0.71	2.75
’20	0.63	0.80	0.85	0.93	3.23

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	22.76	24.93	22.06	24.59	13.06	26.37	27.88	30.23	31.24	35.05	Analyst estimates 2026–2028 Powerpack
	High	33.13	36.67	36.76	35.98	38.26	38.21	39.82	45.55	43.92	54.48
People
People	Employees	1,463	1,441	1,878	1,826	1,986	1,968	1,961	2,025	2,072	2,091
	Revenue/emp, $m	0.78	0.77	0.60	0.73	0.73	0.66	0.74	0.79	0.79	0.86
Income, $m
Income, $m	Revenue	1,143	1,103	1,136	1,327	1,448	1,300	1,446	1,610	1,632	1,801
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	341	352	296	365	446	376	306	411	382	548
	EBT margin, %	29.82	31.92	26.08	27.53	30.80	28.94	21.18	25.56	23.38	30.41
	Net income	222	295	222	277	336	272	235	305	268	414
	Depreciation	22	19	20	28	30	30	28	27	22	22
Per share, $
Per share, $	Revenue	11.54	11.32	11.71	13.64	15.01	13.87	16.86	19.19	20.55	23.98
	Earnings	2.03	2.87	2.18	2.69	3.25	2.77	2.65	3.40	3.23	5.13
	Cash flow	2.68	3.98	2.13	3.44	3.87	1.82	3.78	3.72	4.36	3.96
	Capex	(0.13)	(0.10)	(0.20)	(0.75)	(0.14)	(0.17)	(0.05)	(0.09)	(0.05)	(0.04)
	Free cash flow	2.55	3.88	1.93	2.69	3.73	1.65	3.73	3.62	4.31	3.92
	Book value	6.01	7.81	8.84	10.71	11.78	11.88	12.19	13.45	13.79	15.94
	Shares, m	99	97	97	97	97	94	86	84	79	75
Valuation, ×
Valuation, ×	P/E	14.14	12.31	12.18	12.12	8.92	13.62	14.02	9.91	12.89	10.13
	P/S	2.49	3.14	2.27	2.39	1.93	2.71	2.21	1.76	2.00	2.17
	P/B	4.78	4.55	3.00	3.04	2.45	3.16	3.06	2.51	2.98	3.27
	EV/Sales	2.54	3.01	2.25	2.28	1.77	2.70	2.22	1.74	1.90	2.04
	EV/FCF	11.50	8.79	13.50	9.44	7.12	21.96	10.04	9.21	9.08	12.48
Cash, $m
Cash, $m	Operating cash flow	266	387	206	335	373	170	324	312	347	297
	Capex	(13)	(10)	(19)	(73)	(13)	(16)	(4)	(8)	(4)	(3)
	Free cash flow	253	378	187	262	360	155	320	304	343	295
Balance, $m
Balance, $m	Working capital	197	308	123	231	310	289	394	433	492	550
	Total debt	166	170	135	100	75	223	348	348	348	348
	Net debt	61	(146)	(22)	(149)	(227)	(10)	11	(35)	(156)	(234)
	Shareholders’ equity	596	761	857	1,041	1,137	1,114	1,046	1,128	1,095	1,197
Returns, %
Returns, %	ROA	17.19	23.46	15.26	15.26	15.80	12.64	11.27	13.83	12.26	17.86
	ROIC	31.95	34.71	24.71	24.38	28.71	20.73	19.92	22.16	24.06	33.36
	ROE	32.34	41.26	26.17	27.52	28.59	22.91	21.08	26.22	23.09	33.61

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
STEP StepStone Group Inc.	$5.2B	— (loss-making)	3.9×	+4.01% (above 0%: growing)	n/m	−1,113.70% (below 0%: shrinking)	100.00%	(54.06%)	Compare
OBDC Blue Owl Capital Corporation	$5.1B	18.1×	12.1×	−17.39% (below 0%: shrinking)	−51.85% (below 0%: shrinking)	−45.84% (below 0%: shrinking)	100.00%	74.72%	Compare
MAIN Main Street Capital Corporation	$5.1B	10.8×	15.2×	+3.89% (above 0%: growing)	+15.33% (above 0%: growing)	+13.70% (above 0%: growing)	100.00%	87.20%	Compare
HASI HA Sustainable Infrastructure Capital, Inc.	$4.7B	55.2×	29.3×	+40.97% (above 0%: growing)	+25.00% (above 0%: growing)	−14.48% (below 0%: shrinking)	100.00%	80.56%	Compare
HLNE Hamilton Lane Inc.	$4.6B	12.3×	12.3×	+56.48% (above 0%: growing)	+49.23% (above 0%: growing)	−40.94% (below 0%: shrinking)	100.00%	45.93%	Compare
OTF Blue Owl Technology Finance Corp.	$4.3B	11.4×	26.7×	+5.81% (above 0%: growing)	−23.26% (below 0%: shrinking)	+22.79% (above 0%: growing)	100.00%	82.00%	Compare
FHI Federated Hermes, Inc.	$4.2B	10.4×	11.3×	+18.34% (above 0%: growing)	+18.97% (above 0%: growing)	+342.66% (above 0%: growing)	100.00%	26.43%
CNS Cohen & Steers Inc	$3.6B	21.3×	22.3×	+12.20% (above 0%: growing)	+33.33% (above 0%: growing)	+194.97% (above 0%: growing)	100.00%	34.55%	Compare
AAMI Acadian Asset Management Inc.	$3.3B	32.5×	— (loss-making)	+45.29% (above 0%: growing)	+175.00% (above 0%: growing)	−65.25% (below 0%: shrinking)	100.00%	17.50%	Compare
Median of peers	$4.7B	18.1×	15.2×	+9.00%	+25.00%	−27.71%	100.00%	60.33%

All 120 Asset Management stocks →

Federated Hermes, Inc. (FHI) key facts

Strength: Federated Hermes, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, up 10.3% from fiscal 2024.
Federated Hermes, Inc. (FHI) is an Asset Management company in the Financial sector, listed on the New York Stock Exchange.
As of October 16, 2026, FHI traded at $55.85, a market capitalization of $4.2 billion.
Federated Hermes, Inc. pays an annual dividend of $1.44 per share, a yield of 2.58%, with a payout ratio of 26.8%.
Return on equity was 33.6% and debt-to-equity 0.28.
Its Piotroski F-score is 7 out of 9 for fiscal 2025.