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Side-by-side financial comparison of FEDERATED HERMES, INC. (FHI) and Royalty Pharma plc (RPRX). Click either name above to swap in a different company.
Royalty Pharma plc is the larger business by last-quarter revenue ($622.0M vs $482.8M, roughly 1.3× FEDERATED HERMES, INC.). Royalty Pharma plc runs the higher net margin — 34.4% vs 22.2%, a 12.3% gap on every dollar of revenue. On growth, FEDERATED HERMES, INC. posted the faster year-over-year revenue change (13.7% vs 4.8%). Over the past eight quarters, FEDERATED HERMES, INC.'s revenue compounded faster (10.4% CAGR vs 4.6%).
Federated Hermes is an investment manager headquartered in Pittsburgh, Pennsylvania, United States. Founded in 1955 and incorporated on October 18, 1957, the company manages $902.6 billion of customer assets, as of December 2025. The company offers investments spanning equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies, including mutual funds, exchange-traded funds (ETFs), separate accounts, closed-end funds and collective investment funds. Clie...
Acceleron Pharma, Inc. is an American clinical stage biopharmaceutical company based in Cambridge, Massachusetts with a broad focus on developing medicines that regulate the transforming growth factor beta (TGF-β) superfamily of proteins, which play fundamental roles in the growth and repair of cells and tissues such as red blood cells, muscle, bone, and blood vessels.
FHI vs RPRX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $482.8M | $622.0M |
| Net Profit | $107.0M | $214.2M |
| Gross Margin | — | — |
| Operating Margin | 28.1% | 62.4% |
| Net Margin | 22.2% | 34.4% |
| Revenue YoY | 13.7% | 4.8% |
| Net Profit YoY | 26.4% | 2.9% |
| EPS (diluted) | $1.38 | $0.49 |
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 | $482.8M | $622.0M | ||
| Q3 25 | $469.4M | $609.3M | ||
| Q2 25 | $424.8M | $578.7M | ||
| Q1 25 | $423.5M | $568.2M | ||
| Q4 24 | $424.7M | $593.6M | ||
| Q3 24 | $408.5M | $564.7M | ||
| Q2 24 | $402.6M | $537.3M | ||
| Q1 24 | $396.4M | $568.0M |
| Q4 25 | $107.0M | $214.2M | ||
| Q3 25 | $104.1M | $288.2M | ||
| Q2 25 | $91.0M | $30.2M | ||
| Q1 25 | $101.1M | $238.3M | ||
| Q4 24 | $84.7M | $208.2M | ||
| Q3 24 | $87.5M | $544.0M | ||
| Q2 24 | $21.0M | $102.0M | ||
| Q1 24 | $75.0M | $4.8M |
| Q4 25 | 28.1% | 62.4% | ||
| Q3 25 | 27.6% | 70.1% | ||
| Q2 25 | 27.6% | 36.3% | ||
| Q1 25 | 31.1% | 94.0% | ||
| Q4 24 | 26.0% | 60.9% | ||
| Q3 24 | 27.4% | — | ||
| Q2 24 | 10.1% | 50.2% | ||
| Q1 24 | 24.9% | -13.0% |
| Q4 25 | 22.2% | 34.4% | ||
| Q3 25 | 22.2% | 47.3% | ||
| Q2 25 | 21.4% | 5.2% | ||
| Q1 25 | 23.9% | 41.9% | ||
| Q4 24 | 19.9% | 35.1% | ||
| Q3 24 | 21.4% | 96.3% | ||
| Q2 24 | 5.2% | 19.0% | ||
| Q1 24 | 18.9% | 0.8% |
| Q4 25 | $1.38 | $0.49 | ||
| Q3 25 | $1.34 | $0.67 | ||
| Q2 25 | $1.16 | $0.07 | ||
| Q1 25 | $1.25 | $0.55 | ||
| Q4 24 | $1.08 | $0.46 | ||
| Q3 24 | $1.06 | $1.21 | ||
| Q2 24 | $0.20 | $0.23 | ||
| Q1 24 | $0.89 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $582.5M | $618.7M |
| Total DebtLower is stronger | $348.4M | $9.0B |
| Stockholders' EquityBook value | $1.2B | $9.7B |
| Total Assets | $2.2B | $19.6B |
| Debt / EquityLower = less leverage | 0.29× | 0.92× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $582.5M | $618.7M | ||
| Q3 25 | $506.3M | $938.9M | ||
| Q2 25 | $371.0M | $631.9M | ||
| Q1 25 | $387.6M | $1.1B | ||
| Q4 24 | $504.4M | $929.0M | ||
| Q3 24 | $375.0M | $950.1M | ||
| Q2 24 | $307.4M | $1.8B | ||
| Q1 24 | $359.8M | $843.0M |
| Q4 25 | $348.4M | $9.0B | ||
| Q3 25 | $348.3M | $8.9B | ||
| Q2 25 | $348.2M | $8.0B | ||
| Q1 25 | $348.2M | $7.6B | ||
| Q4 24 | $348.1M | $7.6B | ||
| Q3 24 | $348.0M | $7.6B | ||
| Q2 24 | $348.0M | $7.6B | ||
| Q1 24 | $347.9M | $6.1B |
| Q4 25 | $1.2B | $9.7B | ||
| Q3 25 | $1.2B | $9.6B | ||
| Q2 25 | $1.1B | $9.5B | ||
| Q1 25 | $1.1B | $9.8B | ||
| Q4 24 | $1.1B | $10.3B | ||
| Q3 24 | $1.1B | $10.3B | ||
| Q2 24 | $1.0B | $9.8B | ||
| Q1 24 | $1.1B | $9.9B |
| Q4 25 | $2.2B | $19.6B | ||
| Q3 25 | $2.2B | $19.3B | ||
| Q2 25 | $2.2B | $18.3B | ||
| Q1 25 | $2.0B | $17.6B | ||
| Q4 24 | $2.1B | $18.2B | ||
| Q3 24 | $2.0B | $18.0B | ||
| Q2 24 | $1.9B | $17.7B | ||
| Q1 24 | $2.1B | $16.1B |
| Q4 25 | 0.29× | 0.92× | ||
| Q3 25 | 0.29× | 0.93× | ||
| Q2 25 | 0.31× | 0.84× | ||
| Q1 25 | 0.32× | 0.78× | ||
| Q4 24 | 0.32× | 0.74× | ||
| Q3 24 | 0.32× | 0.74× | ||
| Q2 24 | 0.34× | 0.78× | ||
| Q1 24 | 0.30× | 0.62× |
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 | $297.3M | $827.1M |
| Free Cash FlowOCF − Capex | $294.6M | — |
| FCF MarginFCF / Revenue | 61.0% | — |
| Capex IntensityCapex / Revenue | 0.6% | — |
| Cash ConversionOCF / Net Profit | 2.78× | 3.86× |
| TTM Free Cash FlowTrailing 4 quarters | $427.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $297.3M | $827.1M | ||
| Q3 25 | $103.1M | $702.6M | ||
| Q2 25 | $18.8M | $364.0M | ||
| Q1 25 | $14.3M | $596.1M | ||
| Q4 24 | $346.6M | $742.5M | ||
| Q3 24 | $117.1M | $703.6M | ||
| Q2 24 | $88.7M | $658.2M | ||
| Q1 24 | $14.0M | $664.6M |
| Q4 25 | $294.6M | — | ||
| Q3 25 | $101.6M | — | ||
| Q2 25 | $18.0M | — | ||
| Q1 25 | $13.3M | — | ||
| Q4 24 | $342.5M | — | ||
| Q3 24 | $114.1M | — | ||
| Q2 24 | $82.7M | — | ||
| Q1 24 | $13.5M | — |
| Q4 25 | 61.0% | — | ||
| Q3 25 | 21.6% | — | ||
| Q2 25 | 4.2% | — | ||
| Q1 25 | 3.1% | — | ||
| Q4 24 | 80.7% | — | ||
| Q3 24 | 27.9% | — | ||
| Q2 24 | 20.5% | — | ||
| Q1 24 | 3.4% | — |
| Q4 25 | 0.6% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 0.1% | — |
| Q4 25 | 2.78× | 3.86× | ||
| Q3 25 | 0.99× | 2.44× | ||
| Q2 25 | 0.21× | 12.06× | ||
| Q1 25 | 0.14× | 2.50× | ||
| Q4 24 | 4.09× | 3.57× | ||
| Q3 24 | 1.34× | 1.29× | ||
| Q2 24 | 4.22× | 6.45× | ||
| Q1 24 | 0.19× | 139.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FHI
| Investment Advisory Management And Administrative Service | $314.0M | 65% |
| Separateaccounts | $63.9M | 13% |
| Other | $61.2M | 13% |
| Distribution Service | $43.7M | 9% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
