Cohen & Steers CNS Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Operating margin | 32.2%+0.2pp | 32%-1.9pp | 33.8%+0.2pp | 33.6%0.0pp | 33.6%+0.2pp | |
| Net margin | 27.5%-0.1pp | 27.6%-2.2pp | 29.7%-0.1pp | 29.8%+0.1pp | 29.7%+0.4pp | |
| EBITDA margin | 34%+0.2pp | 33.7%-1.9pp | 35.6%+0.2pp | 35.4%0.0pp | 35.4%+0.2pp | |
| Returns | ||||||
| Return on equity | 29.1%+0.6pp | 28.5%-3.0pp | 31.5%-1.2pp | 32.7%-2.7pp | 35.4%+1.5pp | |
| Return on assets | 18.4%+0.3pp | 18.1%-3.3pp | 21.5%+0.3pp | 21.1%+0.4pp | 20.7%+1.2pp | |
| Return on invested capital | 29.8%-4.9pp | 34.7%+1.0pp | 33.7%-0.9pp | 34.6%-0.9pp | 35.5%+2.0pp | |
| Efficiency | ||||||
| Asset turnover | 0.7×0.0× | 0.7×-0.1× | 0.7×0.0× | 0.7×0.0× | 0.7×0.0× | |
| Leverage | ||||||
| Debt-to-equity | 0.2×0.0× | 0.2×0.0× | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | |
| Debt-to-assets | 0.2×0.0× | 0.2×0.0× | 0.2×0.0× | 0.2×0.0× | 0.2×0.0× | |
| Net debt / EBITDA | 0.4×+0.5× | -0×-0.3× | 0.2×0.0× | 0.2×-0.2× | 0.4×+0.6× | |
| Per Share | ||||||
| Book value per share | $10.92+0.1% | $10.91+2.2% | $10.67+3.9% | $10.27+4.0% | $9.87-1.7% | |
| Valuation | ||||||
| Market capitalization | $3.21B+0.4% | $3.2B-4.3% | $3.35B-14.7% | $3.92B-4.1% | $4.09B-12.4% | |
| Enterprise value | $3.29B+3.2% | $3.19B-5.7% | $3.39B-14.7% | $3.97B-4.7% | $4.16B-10.0% | |
| Price / earnings | 20.6×-0.3× | 20.9×+0.5× | 20.4×-3.8× | 24.2×-1.8× | 26×-4.8× | |
| Price / sales | 5.7×-0.1× | 5.8×-0.3× | 6.1×-1.2× | 7.2×-0.5× | 7.7×-1.3× | |
| Price / book | 5.7×0.0× | 5.7×-0.4× | 6.1×-1.3× | 7.4×-0.6× | 8.1×-1.1× | |
| EV / EBITDA | 17.1×+0.1× | 17×-0.2× | 17.2×-3.4× | 20.7×-1.6× | 22.2×-3.2× | |
| EV / sales | 5.8×+0.1× | 5.7×-0.4× | 6.1×-1.2× | 7.3×-0.6× | 7.9×-1.1× | |
| Earnings yield | 4.8%+0.1pp | 4.8%-0.1pp | 4.9%+0.8pp | 4.1%+0.3pp | 3.8%+0.6pp | |
| Dividend yield | 4%+0.1pp | 4%+0.2pp | 3.7%+0.6pp | 3.1%+0.2pp | 3%+0.4pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- Where do Cohen & Steers's ratios come from?
- Every ratio is computed from Cohen & Steers's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.