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Side-by-side financial comparison of COHEN & STEERS, INC. (CNS) and P10, Inc. (PX). Click either name above to swap in a different company.
COHEN & STEERS, INC. is the larger business by last-quarter revenue ($143.8M vs $81.0M, roughly 1.8× P10, Inc.). COHEN & STEERS, INC. runs the higher net margin — 24.3% vs 11.7%, a 12.6% gap on every dollar of revenue. On growth, COHEN & STEERS, INC. posted the faster year-over-year revenue change (2.9% vs -4.7%). P10, Inc. produced more free cash flow last quarter ($18.1M vs $-126.4M). Over the past eight quarters, P10, Inc.'s revenue compounded faster (10.7% CAGR vs 8.3%).
Cohen & Steers is an American investment management company. It focuses on investments in real estate securities via real estate investment trusts (REIT) and alternative income via preferred securities.
P10, Inc. is a global alternative investment management firm that offers a diversified portfolio of investment solutions spanning private equity, private credit, real assets and venture capital. It primarily caters to institutional clients including pension funds, endowments, foundations, and high-net-worth individuals across North America, Europe, and Asia Pacific.
CNS vs PX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.8M | $81.0M |
| Net Profit | $34.9M | $9.5M |
| Gross Margin | — | — |
| Operating Margin | 28.0% | 31.9% |
| Net Margin | 24.3% | 11.7% |
| Revenue YoY | 2.9% | -4.7% |
| Net Profit YoY | -23.9% | 79.0% |
| EPS (diluted) | $0.67 | $0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $143.8M | $81.0M | ||
| Q3 25 | $141.7M | $75.9M | ||
| Q2 25 | $136.1M | $72.7M | ||
| Q1 25 | $134.5M | $67.7M | ||
| Q4 24 | $139.8M | $85.0M | ||
| Q3 24 | $133.2M | $74.2M | ||
| Q2 24 | $121.7M | $71.1M | ||
| Q1 24 | $122.7M | $66.1M |
| Q4 25 | $34.9M | $9.5M | ||
| Q3 25 | $41.7M | $2.1M | ||
| Q2 25 | $36.8M | $3.4M | ||
| Q1 25 | $39.8M | $4.5M | ||
| Q4 24 | $45.8M | $5.3M | ||
| Q3 24 | $39.7M | $1.4M | ||
| Q2 24 | $31.8M | $7.0M | ||
| Q1 24 | $34.0M | $5.0M |
| Q4 25 | 28.0% | 31.9% | ||
| Q3 25 | 34.5% | 14.1% | ||
| Q2 25 | 31.8% | 24.4% | ||
| Q1 25 | 33.6% | 16.6% | ||
| Q4 24 | 35.3% | 26.9% | ||
| Q3 24 | 33.7% | 11.9% | ||
| Q2 24 | 31.5% | 23.7% | ||
| Q1 24 | 32.8% | 18.3% |
| Q4 25 | 24.3% | 11.7% | ||
| Q3 25 | 29.4% | 2.8% | ||
| Q2 25 | 27.1% | 4.7% | ||
| Q1 25 | 29.6% | 6.7% | ||
| Q4 24 | 32.8% | 6.2% | ||
| Q3 24 | 29.8% | 1.9% | ||
| Q2 24 | 26.1% | 9.8% | ||
| Q1 24 | 27.7% | 7.6% |
| Q4 25 | $0.67 | $0.08 | ||
| Q3 25 | $0.81 | $0.02 | ||
| Q2 25 | $0.72 | $0.03 | ||
| Q1 25 | $0.77 | $0.04 | ||
| Q4 24 | $0.89 | $0.05 | ||
| Q3 24 | $0.77 | $0.01 | ||
| Q2 24 | $0.63 | $0.06 | ||
| Q1 24 | $0.68 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $145.5M | $28.2M |
| Total DebtLower is stronger | — | $373.2M |
| Stockholders' EquityBook value | $562.0M | $403.5M |
| Total Assets | $876.7M | $928.3M |
| Debt / EquityLower = less leverage | — | 0.93× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $145.5M | $28.2M | ||
| Q3 25 | $98.1M | $40.0M | ||
| Q2 25 | $95.4M | $33.4M | ||
| Q1 25 | $65.2M | $74.4M | ||
| Q4 24 | $183.0M | $67.5M | ||
| Q3 24 | $106.5M | $61.5M | ||
| Q2 24 | $122.0M | $31.2M | ||
| Q1 24 | $99.5M | $29.0M |
| Q4 25 | — | $373.2M | ||
| Q3 25 | — | $393.4M | ||
| Q2 25 | — | $373.0M | ||
| Q1 25 | — | $357.2M | ||
| Q4 24 | — | $319.8M | ||
| Q3 24 | — | $319.4M | ||
| Q2 24 | — | $300.6M | ||
| Q1 24 | — | $314.0M |
| Q4 25 | $562.0M | $403.5M | ||
| Q3 25 | $550.3M | $396.8M | ||
| Q2 25 | $528.5M | $388.9M | ||
| Q1 25 | $507.7M | $374.3M | ||
| Q4 24 | $511.7M | $386.9M | ||
| Q3 24 | $491.0M | $394.1M | ||
| Q2 24 | $463.2M | $396.9M | ||
| Q1 24 | $378.9M | $400.1M |
| Q4 25 | $876.7M | $928.3M | ||
| Q3 25 | $801.6M | $936.0M | ||
| Q2 25 | $751.0M | $932.2M | ||
| Q1 25 | $834.9M | $877.4M | ||
| Q4 24 | $812.4M | $869.3M | ||
| Q3 24 | $727.8M | $857.0M | ||
| Q2 24 | $784.1M | $823.2M | ||
| Q1 24 | $680.7M | $832.8M |
| Q4 25 | — | 0.93× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 0.96× | ||
| Q1 25 | — | 0.95× | ||
| Q4 24 | — | 0.83× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | — | 0.78× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-120.4M | $23.0M |
| Free Cash FlowOCF − Capex | $-126.4M | $18.1M |
| FCF MarginFCF / Revenue | -87.9% | 22.3% |
| Capex IntensityCapex / Revenue | 4.2% | 6.0% |
| Cash ConversionOCF / Net Profit | -3.45× | 2.43× |
| TTM Free Cash FlowTrailing 4 quarters | $-253.6M | $14.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-120.4M | $23.0M | ||
| Q3 25 | $55.1M | $-8.6M | ||
| Q2 25 | $-67.6M | $13.4M | ||
| Q1 25 | $-108.9M | $-4.7M | ||
| Q4 24 | $96.7M | $101.0M | ||
| Q3 24 | $25.6M | $27.5M | ||
| Q2 24 | $31.4M | $34.8M | ||
| Q1 24 | $4.9M | $11.0M |
| Q4 25 | $-126.4M | $18.1M | ||
| Q3 25 | $52.6M | $-9.5M | ||
| Q2 25 | $-69.8M | $11.6M | ||
| Q1 25 | $-110.0M | $-6.0M | ||
| Q4 24 | $85.0M | $96.6M | ||
| Q3 24 | $24.2M | $25.2M | ||
| Q2 24 | $27.1M | $33.9M | ||
| Q1 24 | $537.0K | $10.7M |
| Q4 25 | -87.9% | 22.3% | ||
| Q3 25 | 37.1% | -12.6% | ||
| Q2 25 | -51.3% | 15.9% | ||
| Q1 25 | -81.8% | -8.9% | ||
| Q4 24 | 60.8% | 113.6% | ||
| Q3 24 | 18.2% | 34.0% | ||
| Q2 24 | 22.3% | 47.7% | ||
| Q1 24 | 0.4% | 16.2% |
| Q4 25 | 4.2% | 6.0% | ||
| Q3 25 | 1.8% | 1.2% | ||
| Q2 25 | 1.6% | 2.5% | ||
| Q1 25 | 0.8% | 1.9% | ||
| Q4 24 | 8.3% | 5.2% | ||
| Q3 24 | 1.1% | 3.0% | ||
| Q2 24 | 3.5% | 1.3% | ||
| Q1 24 | 3.5% | 0.4% |
| Q4 25 | -3.45× | 2.43× | ||
| Q3 25 | 1.32× | -4.01× | ||
| Q2 25 | -1.84× | 3.96× | ||
| Q1 25 | -2.74× | -1.05× | ||
| Q4 24 | 2.11× | 19.12× | ||
| Q3 24 | 0.65× | 19.54× | ||
| Q2 24 | 0.99× | 4.98× | ||
| Q1 24 | 0.14× | 2.18× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CNS
Segment breakdown not available.
PX
| Management Fees | $78.1M | 96% |
| Advisory Fees | $1.8M | 2% |
