COHEN & STEERS, INC. (CNS)

Investment Advice

Latest Price

$72.34

TTM P/E

22.26

Normalized P/E

22.41

Div Yield

3.57%

Book Value

11.43

P/B Ratio

6.33

Valuation metrics

EPS: $2.97

Book value / share: $11.01

Formula: √(22.5 × EPS × BVPS)

Graham Number

$27.13

63% downside

Norm. op. income: $173M (median of 7yr)

Tax rate: 22%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$29.28

60% downside

Base FCF: $100M (median of recent 5yr)

Growth: -15%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$11.20

85% downside

EPS: $2.97

Target P/E: 22×

Formula: EPS × P/E

P/E Fair Value

$65.34

10% downside

56.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	4.51M	$343.0M	8.77%	+126.0K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	1.70M	$129.0M	3.31%	+50.9K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	1.26M	$96.0M	2.45%	+3.8K	2026-06-30
DIMENSIONAL FUND ADVISORS LP	1.20M	$91.0M	2.33%	+24.2K	2026-06-30
STATE STREET CORP	1.19M	$90.0M	2.32%	+43.8K	2026-06-30
WASATCH ADVISORS LP	1.19M	$90.0M	2.31%	-911.6K	2026-06-30
Sixth Street Partners Management Company, L.P.	1.06M	$81.0M	2.07%	--	2026-06-30
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	1.06M	$81.0M	2.07%	+97.4K	2026-06-30
VICTORY CAPITAL MANAGEMENT INC	962.6K	$73.0M	1.87%	+277.6K	2026-06-30
GOLDMAN SACHS GROUP INC	924.0K	$70.0M	1.80%	+102.8K	2026-06-30