F

Cohen & Steers Inc — Earnings Quality Grade F

CNS · Financial Services

Major red flags

Revenue
$578M
2025
Net Income
$153M
2025
Gross Margin
48.6%
Free Cash Flow
-$126M
01

Screening Summary

13
Passed
1
Watch
3
Failed
-0.79
M-Score

Management Signals

No recent CEO, CFO, board, or accounting leadership signals found in SEC 8-K filings.
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 50 days, change -0 days YoY

A2AR vs Revenue Growth

AR growth 7.2% vs revenue growth 7.7%

A3Revenue vs CFFO

Revenue 7.7%, CFFO -224.6%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

No material inventory

B2CapEx vs Revenue

CapEx growth -48.7% vs revenue 7.7%. Normal

B3SG&A Ratio

SG&A/Gross Profit = 25.4%, excellent (<30%)

B4Gross Margin

Gross margin 48.6%, change -0.2pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = -0.79. Only -79% of profit backed by cash

!
C2Free Cash Flow

FCF is negative ($-0.1B)

C3Accruals Ratio

Accruals ratio = 31.2%. Exceeds 10%

C4Cash vs Debt

Cash $0.3B covers debt $0.1B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.0B = 4% of equity. Manageable

D2Leverage

Debt/EBITDA = 0.7x. Healthy

D3Soft Asset Growth

Other assets -2.9% vs revenue 7.7%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change 7% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -0.79 (> -1.78). LIKELY MANIPULATOR

04

Beneish M-Score

Manipulation Probability-0.79
-4.0 Clean-2.22 Grey-1.78 Danger0
0.996
DSRI
AR growing faster than revenue?
1.004
GMI
Gross margin declining?
1.152
AQI
Asset quality deteriorating?
1.077
SGI
Revenue growth rate
1
DEPI
Depreciation slowing?
1.1
SGAI
SG&A ratio changing?
0.3122
TATA
Accruals level
0.646
LVGI
Leverage increasing?

Altman Z-Score — Not Applicable

Cohen & Steers Inc is a financial company. Z-Score is designed for non-financial companies.

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25