NYSE : FHI
Federated Hermes, Inc. — Financial statements
Financials · Asset Management · United States
Last price 58.48 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.16B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Federated Hermes, Inc. (FHI) reported revenue of 1.97B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.97B | 1.80B | 1.63B | 1.61B | 1.45B | 1.30B |
| Cost of Revenue | 605.83M | 577.69M | 540.49M | 563.39M | 512.71M | 532.49M |
| Gross Profit | 1.37B | 1.22B | 1.09B | 1.05B | 933.10M | 767.96M |
| Selling, General & Admin | 763.00M | 693.35M | 632.63M | 608.38M | 526.83M | 368.15M |
| Other Operating Expenses | 54.87M | 15.75M | 31.18M | 50.25M | 37.95M | 33.53M |
| Operating Expenses | 817.87M | 709.10M | 663.81M | 658.64M | 564.78M | 401.68M |
| Operating Income | 548.19M | 513.88M | 427.80M | 387.55M | 368.32M | 366.27M |
| Interest Expense | -12.71M | -12.73M | -12.66M | -12.52M | -11.07M | -1.78M |
| Interest & Investment Income | 20.87M | 25.29M | 26.07M | 22.56M | 8.97M | 3.17M |
| Other Non Operating Income (Expenses) | -6.00K | -36.00K | 139.00K | 562.00K | 222.00K | -900.00K |
| EBT Excluding Unusual Items | 565.75M | 526.41M | 441.34M | 398.15M | 366.44M | 366.76M |
| Merger & Restructuring Charges | -9.50M | |||||
| Gain (Loss) on Sale of Investments | 9.95M | 21.12M | 6.60M | 13.18M | -28.70M | 9.53M |
| Asset Writedown | -66.33M | -31.52M | ||||
| Pretax Income | 566.20M | 547.53M | 381.61M | 411.33M | 306.22M | 376.29M |
| Income Tax Expense | 145.12M | 133.43M | 113.18M | 106.55M | 71.66M | 103.98M |
| Earnings From Continuing Operations | 421.07M | 414.10M | 268.43M | 304.78M | 234.56M | 272.31M |
| Minority Interest in Earnings | -1.45M | -10.80M | -116.00K | -5.80M | 4.93M | -2.02M |
| Net Income | 419.62M | 403.30M | 268.31M | 298.98M | 239.50M | 270.29M |
| Preferred Dividends & Other Adjustments | 19.02M | 18.14M | 11.61M | 13.98M | 11.83M | 10.86M |
| Net Income to Common | 400.60M | 385.16M | 256.71M | 285.00M | 227.67M | 259.44M |
| Shares Outstanding (Basic) | 72.34M | 75.10M | 79.43M | 83.86M | 85.76M | 93.75M |
| Shares Outstanding (Diluted) | 72.34M | 75.10M | 79.43M | 83.86M | 85.77M | 93.77M |
| EPS (Basic) | 5.54 | 5.13 | 3.23 | 3.40 | 2.65 | 2.77 |
| EPS (Diluted) | 5.53 | 5.13 | 3.23 | 3.40 | 2.65 | 2.75 |
| Free Cash Flow | 385.55M | 294.58M | 342.53M | 303.92M | 319.58M | 154.64M |
| Free Cash Flow Per Share | 5.33 | 3.92 | 4.31 | 3.62 | 3.73 | 1.65 |
| Dividend Per Share | 1.44 | 1.33 | 1.21 | 1.11 | 1.08 | 1.08 |
| Gross Margin | 69.28% | 67.92% | 66.88% | 65.00% | 64.54% | 59.05% |
| Operating Margin | 27.80% | 28.54% | 26.21% | 24.08% | 25.47% | 28.17% |
| Profit Margin | 20.32% | 21.39% | 15.73% | 17.71% | 15.75% | 19.95% |
| Free Cash Flow Margin | 19.55% | 16.36% | 20.99% | 18.88% | 22.10% | 11.89% |
| EBITDA | 573.53M | 536.14M | 450.23M | 414.38M | 396.40M | 396.28M |
| EBITDA Margin | 29.09% | 29.78% | 27.59% | 25.75% | 27.42% | 30.47% |
| D&A For EBITDA | 25.34M | 22.26M | 22.43M | 26.84M | 28.09M | 30.01M |
| EBIT | 548.19M | 513.88M | 427.80M | 387.55M | 368.32M | 366.27M |
| EBIT Margin | 27.80% | 28.54% | 26.21% | 24.08% | 25.47% | 28.17% |
| Effective Tax Rate | 25.63% | 24.37% | 29.66% | 25.90% | 23.40% | 27.63% |
| Revenue as Reported | 1.97B | 1.80B | 1.63B | 1.61B | 1.45B | 1.30B |
| Advertising Expenses | 22.99M | 24.09M | 22.99M | 20.93M | 21.60M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 373.66M | 582.54M | 504.44M | 383.18M | 336.78M | 233.33M |
| Short-Term Investments | 206.61M | 141.75M | 136.60M | 177.50M | 184.97M | 193.35M |
| Cash & Short-Term Investments | 580.27M | 724.30M | 641.04M | 560.67M | 521.75M | 426.67M |
| Receivables | 120.08M | 89.78M | 106.22M | 124.42M | 94.01M | 96.27M |
| Prepaid Expenses | 39.64M | 36.83M | 29.29M | 29.74M | 27.00M | 29.32M |
| Restricted Cash | 1.35M | 2.66M | 3.50M | 3.77M | 4.42M | |
| Other Current Assets | 2.61M | 11.54M | 2.13M | 2.40M | 4.49M | 2.76M |
| Total Current Assets | 742.60M | 863.79M | 781.35M | 720.73M | 651.03M | 559.45M |
| Property, Plant & Equipment | 171.38M | 120.63M | 130.28M | 129.98M | 128.60M | 155.27M |
| Goodwill | 1.11B | 852.10M | 804.82M | 807.16M | 800.42M | 798.87M |
| Other Intangible Assets | 385.07M | 331.51M | 327.88M | 409.45M | 409.16M | 471.21M |
| Other Long-Term Assets | 53.77M | 61.30M | 40.36M | 34.53M | 31.27M | 33.39M |
| Total Assets | 2.47B | 2.23B | 2.08B | 2.10B | 2.02B | 2.02B |
| Accounts Payable | 97.57M | 99.05M | 100.01M | 88.29M | 73.90M | 64.02M |
| Accrued Expenses | 146.99M | 176.33M | 157.07M | 158.39M | 149.76M | 162.20M |
| Current Portion of Leases | 19.87M | 20.15M | 16.70M | 16.28M | 18.39M | 17.45M |
| Other Current Liabilities | 35.22M | 18.62M | 15.42M | 24.38M | 15.36M | 27.04M |
| Total Current Liabilities | 299.65M | 314.14M | 289.19M | 287.34M | 257.41M | 270.71M |
| Long-Term Debt | 348.56M | 348.37M | 348.11M | 347.84M | 347.58M | 223.35M |
| Long-Term Leases | 126.45M | 88.49M | 97.17M | 93.82M | 86.81M | 105.27M |
| Long-Term Deferred Tax Liabilities | 179.38M | 183.54M | 170.96M | 186.29M | 180.41M | 205.21M |
| Other Long-Term Liabilities | 50.16M | 31.32M | 28.54M | 32.45M | 40.75M | 36.44M |
| Total Liabilities | 1.00B | 965.86M | 933.96M | 947.75M | 912.97M | 840.97M |
| Common Stock | 556.98M | 532.60M | 503.52M | 475.00M | 441.14M | 449.12M |
| Additional Paid-In Capital | 15.07M | 2.00K | ||||
| Retained Earnings | 1.75B | 1.53B | 1.26B | 1.19B | 1.02B | 1.19B |
| Treasury Stock | -1.03B | -873.21M | -632.84M | -521.40M | -365.36M | -538.46M |
| Comprehensive Income & Other | -1.60M | 6.48M | -32.08M | -19.91M | -45.68M | 16.36M |
| Total Common Equity | 1.29B | 1.20B | 1.10B | 1.13B | 1.05B | 1.11B |
| Minority Interest | 171.94M | 66.53M | 55.51M | 25.84M | 61.82M | 63.20M |
| Shareholders' Equity | 1.46B | 1.26B | 1.15B | 1.15B | 1.11B | 1.18B |
| Total Liabilities & Equity | 2.47B | 2.23B | 2.08B | 2.10B | 2.02B | 2.02B |
| Total Debt | 494.89M | 457.01M | 461.97M | 457.94M | 452.78M | 346.07M |
| Net Cash (Debt) | 85.38M | 267.29M | 179.07M | 102.73M | 68.97M | 80.61M |
| Net Cash Per Share | 1.18 | 3.56 | 2.25 | 1.23 | 0.80 | 0.86 |
| Filing Date Shares Outstanding | 70.45M | 72.49M | 77.67M | 80.56M | 84.75M | 87.84M |
| Total Common Shares Outstanding | 70.45M | 72.91M | 78.13M | 80.96M | 84.75M | 89.25M |
| Working Capital | 442.95M | 549.65M | 492.16M | 433.39M | 393.62M | 288.74M |
| Book Value Per Share | 18.32 | 16.42 | 14.02 | 13.94 | 12.34 | 12.48 |
| Tangible Book Value | -208.41M | 13.34M | -37.49M | -88.35M | -163.88M | -156.06M |
| Tangible Book Value Per Share | -2.96 | 0.18 | -0.48 | -1.09 | -1.93 | -1.75 |
| Machinery | 21.45M | 23.13M | 23.56M | 25.77M | 24.53M | |
| Leasehold Improvements | 46.81M | 41.76M | 41.95M | 40.24M | 41.83M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 419.62M | 403.30M | 268.31M | 298.98M | 239.50M | 270.29M |
| Depreciation & Amortization | 25.34M | 22.26M | 22.43M | 26.84M | 28.09M | 30.01M |
| Loss (Gain) From Sale of Assets | -10.92M | -10.30M | -1.55M | 260.00K | 4.84M | -6.96M |
| Asset Writedown & Restructuring Costs | 66.33M | 31.52M | ||||
| Loss (Gain) From Sale of Investments | 999.00K | -10.79M | -3.93M | -13.42M | 24.38M | -1.97M |
| Stock-Based Compensation | 30.41M | 29.13M | 28.78M | 33.95M | 35.51M | 39.70M |
| Other Operating Activities | -78.08M | -132.89M | -51.40M | -22.63M | -43.94M | -148.86M |
| Change in Accounts Receivable | 13.30M | 4.03M | 17.35M | -27.57M | -4.37M | 6.66M |
| Change in Accounts Payable | 10.45M | 5.93M | 9.36M | 14.63M | 4.67M | -6.37M |
| Change in Other Net Operating Assets | -6.01M | -13.32M | -9.13M | 801.00K | 3.76M | -12.13M |
| Operating Cash Flow | 405.11M | 297.35M | 346.55M | 311.83M | 323.95M | 170.38M |
| Capital Expenditures | -19.55M | -2.76M | -4.02M | -7.92M | -4.37M | -15.74M |
| Cash Acquisitions | -213.29M | -12.76M | -28.11M | |||
| Investment in Securities | 19.74M | 23.55M | 72.38M | -22.70M | 126.00K | 26.56M |
| Other Investing Activities | -6.03M | -4.10M | ||||
| Investing Cash Flow | -213.10M | 2.01M | 64.25M | -30.61M | -32.36M | 10.82M |
| Long-Term Debt Issued | 488.30M | 295.65M | ||||
| Long-Term Debt Repaid | -361.65M | -147.30M | ||||
| Net Debt Issued (Repaid) | 126.65M | 148.35M | ||||
| Repurchase of Common Stock | -263.23M | -262.77M | -137.62M | -177.07M | -218.14M | -228.35M |
| Common Dividends Paid | -109.46M | -104.87M | -184.81M | -98.09M | -97.92M | -105.76M |
| Other Financing Activities | 49.95M | 129.76M | 36.03M | 32.07M | 20.89M | -63.71M |
| Financing Cash Flow | -322.74M | -237.88M | -286.40M | -243.09M | -168.51M | -249.47M |
| Foreign Exchange Rate Adjustments | -1.78M | 15.35M | -3.79M | 7.87M | -20.17M | -2.31M |
| Net Cash Flow | -132.51M | 76.81M | 120.61M | 46.00M | 102.90M | -70.58M |
| Free Cash Flow | 385.55M | 294.58M | 342.53M | 303.92M | 319.58M | 154.64M |
| Free Cash Flow Margin | 19.55% | 16.36% | 20.99% | 18.88% | 22.10% | 11.89% |
| Free Cash Flow Per Share | 5.33 | 3.92 | 4.31 | 3.62 | 3.73 | 1.65 |
| Levered Free Cash Flow | 405.03M | 384.16M | 327.83M | 288.52M | 271.75M | 289.23M |
| Unlevered Free Cash Flow | 412.97M | 392.12M | 335.74M | 296.35M | 278.67M | 290.35M |
| Cash Interest Paid | 11.80M | 11.80M | 11.59M | 11.65M | 7.18M | 1.13M |
| Cash Income Tax Paid | 124.64M | 124.64M | 125.82M | 108.03M | 85.58M | 91.92M |
| Change in Working Capital | 17.74M | -3.36M | 17.57M | -12.14M | 4.06M | -11.83M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.12B | 3.85B | 3.20B | 2.77B | 3.08B | 3.49B |
| Enterprise Value | 4.03B | 3.73B | 3.14B | 2.74B | 3.16B | 3.43B |
| Last Close Price | 58.48 | 51.06 | 39.14 | 30.20 | 31.40 | 31.45 |
| PE Ratio | 10.57 | 9.99 | 12.48 | 9.71 | 13.53 | 13.46 |
| Forward PE | 9.74 | 10.47 | 10.11 | 10.03 | 12.58 | 12.89 |
| PS Ratio | 2.09 | 2.14 | 1.96 | 1.72 | 2.13 | 2.68 |
| PB Ratio | 3.19 | 3.05 | 2.78 | 2.40 | 2.78 | 2.96 |
| P/TBV Ratio | 288.58 | |||||
| P/FCF Ratio | 10.69 | 13.06 | 9.35 | 9.10 | 9.64 | 22.57 |
| P/OCF Ratio | 10.17 | 12.94 | 9.24 | 8.87 | 9.51 | 20.49 |
| PEG Ratio | 1.30 | 0.53 | 1.09 | 0.69 | 1.15 | 1.75 |
| EV/Sales Ratio | 2.05 | 2.07 | 1.92 | 1.70 | 2.18 | 2.64 |
| EV/EBITDA Ratio | 7.03 | 6.95 | 6.97 | 6.62 | 7.96 | 8.65 |
| EV/EBIT Ratio | 7.36 | 7.25 | 7.34 | 7.08 | 8.57 | 9.36 |
| EV/FCF Ratio | 10.46 | 12.65 | 9.17 | 9.03 | 9.88 | 22.18 |
| Debt / Equity Ratio | 0.34 | 0.36 | 0.40 | 0.40 | 0.41 | 0.29 |
| Debt / EBITDA Ratio | 0.83 | 0.82 | 0.98 | 1.06 | 1.09 | 0.83 |
| Debt / FCF Ratio | 1.28 | 1.55 | 1.35 | 1.51 | 1.42 | 2.24 |
| Net Debt / Equity Ratio | -0.06 | -0.21 | -0.16 | -0.09 | -0.06 | -0.07 |
| Net Debt / EBITDA Ratio | -0.15 | -0.50 | -0.40 | -0.25 | -0.17 | -0.20 |
| Net Debt / FCF Ratio | -0.22 | -0.91 | -0.52 | -0.34 | -0.22 | -0.52 |
| Asset Turnover | 0.85 | 0.83 | 0.78 | 0.78 | 0.72 | 0.64 |
| Quick Ratio | 2.34 | 2.59 | 2.58 | 2.38 | 2.39 | 1.93 |
| Current Ratio | 2.48 | 2.75 | 2.70 | 2.51 | 2.53 | 2.07 |
| Return on Equity (ROE) | 31.03% | 34.30% | 23.29% | 26.95% | 20.53% | 21.35% |
| Return on Assets (ROA) | 14.74% | 14.89% | 12.77% | 11.75% | 11.40% | 11.22% |
| Return on Invested Capital (ROIC) | 29.70% | 39.50% | 29.75% | 27.48% | 26.43% | 23.62% |
| Return on Capital Employed (ROCE) | 25.30% | 26.80% | 23.80% | 21.40% | 20.90% | 21.00% |
| Earnings Yield | 9.46% | 10.48% | 8.38% | 10.80% | 7.78% | 7.74% |
| FCF Yield | 9.36% | 7.66% | 10.69% | 10.98% | 10.38% | 4.43% |
| Dividend Yield | 2.60% | 2.52% | 2.95% | 3.25% | 2.97% | 2.76% |
| Payout Ratio | 27.47% | 26.00% | 68.88% | 32.81% | 40.88% | 39.13% |
| Buyback Yield / Dilution | 5.11% | 5.45% | 5.29% | 2.22% | 8.54% | 2.83% |
| Total Shareholder Return | 7.71% | 7.97% | 8.24% | 5.47% | 11.51% | 5.59% |