Federated Hermes Inc. (FHI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$1.19	$1.38	+16.0%	—	—	—
Q3 26	$1.19	$1.27	+6.7%	—	—	—
Q2 26	$1.22	$1.39	+13.9%	—	—	—
Q1 26	$1.12	$1.34	+19.6%	—	—	—
Q4 25	$1.07	$1.16	+8.4%	—	—	—
Q3 25	$0.92	$1.1	+19.6%	—	—	—
Q2 25	$0.96	$1.04	+8.3%	—	—	—
Q1 25	$0.93	$1.06	+14.0%	—	—	—
Q4 24	$0.89	$0.2	-77.5%	—	—	—
Q3 24	$0.88	$0.89	+1.1%	—	—	—
Q2 24	$0.82	$0.96	+17.1%	—	—	—
Q1 24	$0.83	$0.86	+3.6%	—	—	—
Q4 23	$0.82	$0.81	-1.2%	—	—	—
Q3 23	$0.73	$0.78	+6.8%	—	—	—
Q2 23	$0.77	$0.9	+16.9%	—	—	—
Q1 23	$0.71	$0.78	+9.9%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$5.13	—	—	$1.8B	—
FY24	—	$3.23	—	—	$1.6B	—
FY23	—	$3.4	—	—	$1.6B	—
FY22	—	$2.65	—	—	$1.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.1B	$1.1B	$1.1B	$1.3B	$1.4B	$1.3B	$1.4B	$1.6B	$1.6B	$1.8B
YoY change	+23.4%	-3.54%	+2.97%	+16.8%	+9.15%	-10.2%	+11.2%	+11.3%	+1.4%	+10.3%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.1B	1.1B	1.1B	1.3B	1.4B	1.3B	1.4B	1.6B	1.6B	1.8B
Cost of revenue	296.5M	289.2M	354.8M	442.1M	503.4M	532.5M	512.7M	563.4M	540.5M	577.7M
Gross profit	846.9M	813.7M	780.9M	884.7M	944.9M	768M	933.1M	1B	1.1B	1.2B
Gross margin	74.1%	73.8%	68.8%	66.7%	65.2%	59.1%	64.5%	65%	66.9%	67.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	499.5M	456.9M	436.8M	516.7M	493M	362.8M	514.4M	593M	617.2M	676.3M
Operating expenses	511.2M	472.2M	450.6M	536.8M	512.9M	387.9M	552.2M	644.8M	650.8M	695.4M
Operating income	335.7M	341.5M	330.3M	347.9M	432M	380.1M	380.9M	401.4M	440.8M	527.6M
Operating margin	29.4%	31%	29.1%	26.2%	29.8%	29.2%	26.3%	24.9%	27%	29.3%
Non-operating income, net	5.3M	10.5M	-34.1M	17.3M	16.8M	-2M	-63.6M	22.4M	-46.6M	32.6M
Pretax income	340.9M	352M	296.2M	365.3M	446.1M	376.3M	306.2M	411.3M	381.6M	547.5M
Income tax	119.4M	57.1M	73.9M	88.1M	110M	104M	71.7M	106.6M	113.2M	133.4M
Net income	221.5M	294.9M	222.3M	277.1M	336M	272.3M	234.6M	304.8M	268.4M	414.1M
Net margin	19.4%	26.7%	19.6%	20.9%	23.2%	20.9%	16.2%	18.9%	16.4%	23%
EBITDA	335.9M	336.8M	345.7M	366.5M	470.3M	409.2M	409.2M	428.8M	463.4M	549.8M
EPS	2.03	2.87	2.18	2.69	3.25	2.77	2.65	3.4	3.23	5.13
Diluted EPS	2.03	2.87	2.18	2.69	3.23	2.75	2.65	3.4	3.23	5.13

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	402.7M	391.5M	396.4M	402.6M	408.5M	424.7M	423.5M	424.8M	469.4M	482.8M	479M	—
Cost of revenue	139.1M	127.5M	136.5M	130.7M	136M	137.2M	143.3M	144.9M	144.6M	145M	154.1M	—
Gross profit	263.5M	264M	259.8M	271.8M	272.4M	287.5M	280.3M	280M	324.9M	337.9M	324.8M	—
Gross margin	65.4%	67.4%	65.6%	67.5%	66.7%	67.7%	66.2%	65.9%	69.2%	70%	67.8%	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	143.1M	148.4M	149.3M	152.9M	154.6M	160.3M	156.4M	157.6M	175.2M	187.2M	187.7M	—
Operating expenses	158.7M	157.7M	158M	161.7M	157.2M	173.9M	145.3M	159.4M	191.9M	198.8M	195.1M	—
Operating income	104.9M	106.2M	101.8M	110.1M	115.2M	113.7M	135M	120.6M	133M	139.1M	129.8M	—
Operating margin	26%	27.1%	25.7%	27.4%	28.2%	26.8%	31.9%	28.4%	28.3%	28.8%	27.1%	—
Non-operating income, net	-737K	14.2M	5.4M	-64.3M	10.5M	1.9M	4.3M	13.4M	10.5M	4.5M	3.2M	—
Pretax income	101M	117.3M	104M	42.7M	122.6M	112.3M	136M	130.8M	140.3M	140.3M	129.8M	—
Income tax	26.7M	31.3M	29M	23.4M	32.3M	28.5M	32.2M	34.1M	34.2M	32.9M	33.8M	—
Net income	74.3M	86M	75M	19.2M	90.3M	83.9M	103.9M	96.7M	106.1M	107.4M	95.9M	—
Net margin	18.4%	22%	18.9%	4.78%	22.1%	19.7%	24.5%	22.8%	22.6%	22.3%	20%	—
EBITDA	111M	112.7M	107.5M	115.6M	121M	119.3M	140.4M	126.2M	138.6M	144.7M	135M	—
EPS	0.86	0.96	0.89	0.2	1.06	1.04	1.25	1.16	1.34	1.39	1.27	1.38
Diluted EPS	0.86	0.96	0.89	0.2	1.06	1.04	1.25	1.16	1.34	1.39	1.27	1.38

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	2.8B	3.5B	2.6B	3.2B	2.8B	3.5B	3.1B	2.8B	3.3B	3.9B	4.7B
Enterprise value	2.7B	3.3B	2.5B	3.1B	2.6B	3.4B	3B	2.7B	3.1B	3.6B	4.7B
Shares outstanding	99.1M	97.4M	96.9M	97.3M	96.4M	93.6M	85.8M	83.9M	79.4M	75.1M	75.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	12.7	11.9	11.6	11.4	8.29	12.9	13.3	9.32	12.2	9.44	11.9
P/S	2.45	3.19	2.27	2.39	1.92	2.7	2.15	1.76	2	2.17	2.51
P/B	4.7	4.62	3	3.04	2.03	2.99	2.81	2.46	2.84	3.1	3.7
EV/EBITDA	8.02	9.84	7.28	8.32	5.44	8.4	7.44	6.38	6.66	6.63	8.64
EV/Sales	2.36	3.01	2.22	2.3	1.77	2.64	2.11	1.7	1.89	2.02	2.45
Earnings yield	7.9%	8.39%	8.64%	8.74%	12.1%	7.74%	7.53%	10.7%	8.22%	10.6%	8.41%
FCF yield	9.02%	10.7%	7.34%	10.1%	12.9%	4.55%	10.3%	10.7%	10.5%	7.53%	7.78%
PEG	—	—	—	—	—	—	—	—	—	—	0.63

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	74.1%	73.8%	68.8%	66.7%	65.2%	59.1%	64.5%	65%	66.9%	67.9%	68.3%
Operating margin	29.4%	31%	29.1%	26.2%	29.8%	29.2%	26.3%	24.9%	27%	29.3%	26.4%
Net margin	19.4%	26.7%	19.6%	20.9%	23.2%	20.9%	16.2%	18.9%	16.4%	23%	21.3%
ROE	37.2%	38.7%	25.9%	26.6%	24.5%	23.1%	21.2%	26.4%	23.3%	32.8%	31.1%
ROA	19.2%	23.9%	14.4%	14.7%	16.3%	13.5%	11.6%	14.5%	12.9%	18.6%	14.6%
ROIC	44.9%	50.9%	30.9%	28.6%	28.3%	25.1%	28.1%	28.3%	31.9%	40.1%	36.7%
Return on tangible assets	-130%	-121.6%	-29.5%	-49.4%	-66.8%	-52.2%	-58.8%	-92%	-148.5%	-300.3%	-198.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.21	3.39	1.68	2	2.17	2.07	2.53	2.51	2.7	2.75	2.59
Quick ratio	2.21	3.39	1.68	2	2.17	2.07	2.53	2.51	2.7	2.75	3.28
Debt / equity	0.32	0.22	0.16	0.21	0.15	0.29	0.41	0.4	0.4	0.36	0.32
Debt / assets	0.17	0.14	0.09	0.12	0.1	0.17	0.22	0.22	0.22	0.2	0.21
Net debt / EBITDA	-0.33	-0.59	-0.16	-0.33	-0.48	-0.2	-0.17	-0.24	-0.39	-0.49	-0.36
Interest coverage	80.4	71.6	56.1	69.1	167.6	211.8	28.7	33.9	31.1	44	43.5
Effective tax rate	35%	16.2%	24.9%	24.1%	24.7%	27.6%	23.4%	25.9%	29.7%	24.4%	25%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	11.5	11.3	11.7	13.6	15	13.9	16.9	19.2	20.5	24	26.5
EPS (basic)	2.03	2.87	2.18	2.69	3.25	2.77	2.65	3.4	3.23	5.13	5.13
EPS (diluted)	2.03	2.87	2.18	2.69	3.23	2.75	2.65	3.4	3.23	5.13	5.46
Book value per share	6.01	7.81	8.84	10.7	14.3	12.6	12.9	13.8	14.5	16.8	17.5
FCF per share	2.55	3.88	1.95	3.29	3.73	1.71	3.73	3.62	4.31	3.92	4.2
Cash per share	3.04	3.79	1.96	3.5	4.55	4.56	6.08	6.69	8.07	9.64	6.75
Capex per share	0.13	0.1	0.18	0.15	0.14	0.11	0.05	0.09	0.05	—	0.1

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.12%	0.89%	1.52%	1.13%	0.93%	0.8%	0.3%	0.49%	0.25%	—	0.4%
Capex / operating cash flow	4.99%	3.56%	6.14%	4.52%	3.06%	3.03%	1.68%	2.46%	1.37%	—	1.55%
Payout ratio	92.8%	34.4%	48.1%	39.4%	61.8%	38.8%	41.7%	32.2%	68.8%	25.3%	26%
Dividend yield	7.33%	2.89%	4.15%	3.44%	7.46%	3.01%	3.14%	3.45%	5.66%	2.68%	2.4%

Yield

2.4%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.38

ex-dividend Aug 7, 2026

Payout ratio

26%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 7, 2026	$0.38
May 8, 2026	$0.38
Feb 6, 2026	$0.34

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$402.7M	$391.5M	$396.4M	$402.6M	$408.5M	$424.7M	$423.5M	$424.8M	$469.4M	$482.8M	$479M	—
YoY change	+5.64%	+4.71%	+3.71%	-7.07%	+1.44%	+8.48%	+6.85%	+5.53%	+14.9%	+13.7%	+13.1%	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	301.1M	369.5M	190.5M	340.6M	438.8M	426.7M	521.8M	560.7M	641M	724.3M
Receivables	44.8M	26M	60.1M	64.5M	64.9M	65.3M	58.1M	75.7M	69.9M	47.6M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	359.8M	437.3M	304.1M	461.3M	575.3M	559.4M	651M	720.7M	781.4M	863.8M
Property, plant & equipment	57.2M	55.5M	71.1M	152.2M	174.7M	155.3M	128.6M	130M	130.3M	120.6M
Goodwill & intangibles	1.3B	1.5B	2.3B	2.4B	2.6B	2.5B	2.4B	2.4B	2.3B	2.4B
Total assets	1.2B	1.2B	1.5B	1.9B	2.1B	2B	2B	2.1B	2.1B	2.2B
Accounts payable	—	—	—	—	—	—	—	—	—	—
Short-term debt	25.5M	—	—	13.6M	15.8M	17.4M	18.4M	16.3M	16.7M	20.1M
Total current liabilities	162.5M	128.8M	181.2M	230.7M	265.4M	270.7M	257.4M	287.3M	289.2M	314.1M
Long-term debt	165.8M	170M	135M	207.5M	196.9M	328.6M	434.4M	441.7M	445.3M	436.9M
Total liabilities	559.3M	470.2M	686.6M	838.9M	686.9M	841M	913M	947.7M	934M	965.9M
Shareholders' equity	595.8M	761.2M	857.1M	1B	1.4B	1.2B	1.1B	1.2B	1.2B	1.3B
Total debt	191.3M	170M	135M	221.1M	212.8M	346.1M	452.8M	457.9M	462M	457M
Net debt	86.4M	-146.3M	-21.8M	-28.1M	-89.1M	112.7M	116M	74.8M	-42.5M	-125.5M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Cash & short-term investments	520.8M	554.4M	560.7M	558.5M	452.9M	565M	641M	541.8M	607.5M	647.4M	724.3M	645.4M
Receivables	76.4M	72.5M	75.7M	71.6M	72.1M	79.1M	69.9M	64.3M	64M	60M	47.6M	50.3M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	694.3M	711.7M	720.7M	719.7M	613.3M	723.2M	781.4M	678.6M	760.7M	802.3M	863.8M	788.6M
Property, plant & equipment	112.3M	132.6M	130M	124.2M	124.6M	118M	130.3M	123.9M	124.7M	129M	120.6M	117.5M
Goodwill & intangibles	2.4B	2.4B	2.4B	2.4B	2.3B	2.3B	2.3B	2.3B	2.4B	2.4B	2.4B	2.3B
Total assets	2.1B	2.1B	2.1B	2.1B	1.9B	2B	2.1B	2B	2.2B	2.2B	2.2B	2.1B
Accounts payable	—	—	—	88.4M	—	—	—	92.4M	—	—	—	102.2M
Short-term debt	19.1M	15.9M	16.3M	16.1M	16.4M	16.2M	16.7M	16.9M	17.6M	18.2M	20.1M	18.9M
Total current liabilities	234.5M	255.6M	287.3M	212.5M	223.4M	263.1M	289.2M	223M	225.7M	256.4M	314.1M	240.7M
Long-term debt	421M	443.8M	441.7M	437.5M	433.7M	431.6M	445.3M	442.2M	442.9M	442.7M	436.9M	431.6M
Total liabilities	867.9M	909.7M	947.7M	866.4M	864M	900.6M	934M	858.7M	874.5M	931.5M	965.9M	881M
Shareholders' equity	1.2B	1.2B	1.2B	1.2B	1B	1.1B	1.2B	1.1B	1.3B	1.3B	1.3B	1.3B
Total debt	440M	459.6M	457.9M	453.6M	450.2M	447.8M	462M	459.1M	460.5M	460.9M	457M	450.5M
Net debt	97.3M	82.7M	74.8M	93.8M	142.7M	72.9M	-42.5M	71.5M	89.5M	-45.4M	-125.5M	-63.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	221.5M	294.9M	222.3M	277.1M	336M	272.3M	234.6M	304.8M	268.4M	414.1M
Depreciation & amortization	9.6M	10.6M	17.1M	28M	29.9M	30M	28.1M	26.8M	22.4M	22.3M
Stock-based compensation	22.4M	22.5M	28.1M	32.9M	35.5M	39.7M	35.5M	33.9M	28.8M	29.1M
Change in working capital	-13.4M	-1.3M	-1.3M	-14.5M	20.6M	-15.7M	-19.2M	-47.5M	-11.7M	9M
Operating cash flow	257.4M	275.5M	281.4M	333.1M	441.6M	344.4M	260.1M	322.3M	293.1M	297.3M
Capital expenditure	-12.8M	-9.8M	-17.3M	-15M	-13.5M	-10.4M	-4.4M	-7.9M	-4M	—
Investing cash flow	-16.4M	133.1M	-174.4M	-94.7M	-24.8M	10.8M	-32.4M	-30.6M	64.3M	4.8M
Dividends paid	-205.5M	-101.5M	-106.9M	-109.1M	-207.8M	-105.8M	-97.9M	-98.1M	-184.8M	-104.9M
Share repurchases	-81.8M	-48.6M	-29.2M	-15.7M	-66.8M	-228.3M	-218.1M	-177.1M	-137.6M	-262.8M
Financing cash flow	-313.8M	-178.2M	-187.6M	-152.7M	-295.1M	-249.5M	-168.5M	-243.1M	-286.4M	-237.9M
Net change in cash	-72.8M	230.4M	-80.6M	85.8M	121.6M	105.8M	59.3M	48.6M	70.9M	64.2M
Free cash flow	252.8M	377.6M	189M	319.9M	359.7M	160M	319.6M	303.9M	342.5M	294.6M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Net income	73M	74.3M	86M	75M	19.2M	90.3M	83.9M	103.9M	96.7M	106.1M	107.4M	95.9M
Depreciation & amortization	6.7M	6.1M	6M	5.6M	5.5M	5.7M	5.6M	5.4M	5.6M	5.6M	5.6M	5.3M
Stock-based compensation	9M	7.5M	6.8M	10.3M	6.3M	6.2M	6M	11.1M	6.4M	5.7M	6M	12.3M
Change in working capital	-37.8M	5.1M	-6.4M	6.2M	-18.2M	-438K	716K	9.4M	-26.2M	39M	-13.3M	13.7M
Operating cash flow	49.6M	90.3M	100.7M	99.8M	5.6M	95.3M	92.4M	130.3M	81.2M	103.1M	161.2M	28.8M
Capital expenditure	-3M	-2.1M	-2.1M	-569K	-6M	3M	-505K	-972K	-786K	—	—	—
Investing cash flow	5.4M	1.3M	-39.2M	27.6M	3.6M	-4.2M	41.4M	-1.5M	-16M	6.9M	13.7M	6M
Dividends paid	-25.1M	-24.7M	-24.1M	-23.7M	-110.3M	-25.6M	-25.2M	-25.3M	-26.8M	-26.4M	-26.4M	-25.9M
Share repurchases	-41.4M	-64.1M	-65.1M	-39M	-46.2M	-28.9M	-23.4M	-120.1M	-65.5M	-21K	-77.1M	-64.7M
Financing cash flow	-61.2M	-68.4M	-91.5M	-63.5M	-145M	-51.5M	-26.3M	-137.6M	-31.7M	29.9M	-98.5M	-97.2M
Net change in cash	-6.2M	23.2M	-30M	63.8M	-135.9M	39.5M	107.5M	-8.8M	33.5M	139.8M	76.4M	-62.4M
Free cash flow	68.2M	103.6M	127.5M	13.5M	82.7M	120.2M	126.2M	13.3M	18M	101.6M	161.6M	24M

Federated Hermes Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history