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Last update at 2025-02-20T19:05:00Z
Federated Hermes Full Year 2024 Earnings: EPS Beats Expectations
Sat 01 Feb 25, 12:16 PMQ4 2024 Federated Hermes Inc Earnings Call
Sat 01 Feb 25, 05:32 AMFederated Hermes Q4 Earnings Beat Estimates, Revenues Increases Y/Y
Fri 31 Jan 25, 02:46 PMFederated Hermes Says Indian Stocks Battling a ‘A Perfect Storm’
Fri 31 Jan 25, 01:24 AMCompared to Estimates, Federated Hermes (FHI) Q4 Earnings: A Look at Key Metrics
Fri 31 Jan 25, 12:30 AMFederated Hermes (FHI) Q4 Earnings and Revenues Surpass Estimates
Thu 30 Jan 25, 11:10 PMFederated’s Cunningham Bets on Longer Bills to Lock in US Yields
Wed 29 Jan 25, 10:23 AMFederated Hermes (FHI) Reports Next Week: Wall Street Expects Earnings Growth
Thu 23 Jan 25, 03:01 PM| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | 306.22M | 376.29M | 446.06M | 365.27M | 296.17M |
| Minority interest | 4.93M | -2.01500M | 9.66M | 4.79M | 2.00M |
| Net income | 239.50M | 270.29M | 326.36M | 272.34M | 220.30M |
| Selling general administrative | 178.89M | 185.67M | 163.36M | 158.27M | 133.04M |
| Selling and marketing expenses | 335.49M | 182.48M | 334.18M | 358.44M | 303.72M |
| Gross profit | 933.10M | 767.96M | 944.87M | 884.75M | 780.91M |
| Reconciled depreciation | 28.09M | 30.01M | 28.56M | 25.92M | 17.09M |
| Ebit | 336.80M | 366.27M | 418.15M | 347.93M | 311.56M |
| Ebitda | 337.02M | 353.57M | 395.96M | 338.51M | 328.65M |
| Depreciation and amortization | 0.22M | -12.70300M | -22.18600M | -9.41600M | 17.09M |
| Non operating income net other | -19.50100M | 11.80M | 30.58M | 22.38M | -28.22100M |
| Operating income | 336.80M | 366.27M | 418.15M | 347.93M | 330.28M |
| Other operating expenses | 1109.02M | 934.17M | 1030.12M | 978.97M | 805.40M |
| Interest expense | 11.07M | 50.72M | 2.68M | 5.04M | 5.88M |
| Tax provision | 71.66M | 103.98M | 110.03M | 88.15M | 73.88M |
| Interest income | 30.80M | 10.92M | 19.51M | 4.38M | 4.26M |
| Net interest income | -11.07300M | - | -2.67800M | -5.03700M | -5.88500M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | 71.66M | 103.98M | 110.03M | 88.15M | 73.88M |
| Total revenue | 1445.81M | 1300.45M | 1448.27M | 1326.89M | 1135.68M |
| Total operating expenses | 596.30M | 401.68M | 526.72M | 536.82M | 450.63M |
| Cost of revenue | 512.71M | 532.49M | 503.40M | 442.15M | 354.76M |
| Total other income expense net | -30.57400M | 10.02M | 27.91M | 17.34M | -34.10600M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 234.56M | 272.31M | 336.02M | 277.12M | 222.30M |
| Net income applicable to common shares | 239.50M | 258.99M | 326.36M | 272.34M | 220.30M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Total assets | 2020.48M | 2018.19M | 2060.84M | 1880.13M | 1543.68M |
| Intangible assets | 409.12M | 471.21M | 481.75M | 446.23M | 339.64M |
| Earning assets | - | - | - | - | - |
| Other current assets | 129.28M | 132.77M | 136.57M | 120.65M | 113.61M |
| Total liab | 912.97M | 904.17M | 923.84M | 838.85M | 686.56M |
| Total stockholder equity | 1045.69M | 1114.02M | 1137.00M | 1041.28M | 857.12M |
| Deferred long term liab | 180.41M | 205.21M | 187.94M | 165.38M | 148.16M |
| Other current liab | 239.02M | 253.26M | 249.60M | 217.14M | 181.18M |
| Common stock | 1411.06M | 1652.48M | 1461.73M | 1322.31M | 1144.46M |
| Capital stock | 1411.06M | 449.12M | 418.86M | 392.21M | 367.25M |
| Retained earnings | 1015.59M | 1187.00M | 1027.70M | 930.35M | 791.82M |
| Other liab | 221.16M | 346.91M | 346.41M | 188.51M | 187.87M |
| Good will | 800.42M | 798.87M | 800.27M | 774.53M | 809.61M |
| Other assets | 31.27M | 188.66M | 203.48M | 42.15M | 37.11M |
| Cash | 336.78M | 233.33M | 301.82M | 249.17M | 156.83M |
| Cash and equivalents | 336.78M | 233.33M | 301.82M | 249.17M | 156.83M |
| Total current liabilities | 257.41M | 270.71M | 265.45M | 230.71M | 181.18M |
| Current deferred revenue | - | - | - | - | - |
| Net debt | 29.19M | -9.97700M | -226.81900M | -149.17400M | -21.83200M |
| Short term debt | 18.39M | 17.45M | 15.85M | 13.57M | 0.00000M |
| Short long term debt | - | - | - | - | - |
| Short long term debt total | 365.98M | 223.35M | 75.00M | 100.00M | 135.00M |
| Other stockholder equity | -1335.27600M | -1741.82700M | -1367.60100M | -1211.13400M | -1064.54300M |
| Property plant equipment | 35.74M | 46.97M | 52.61M | 51.73M | 53.23M |
| Total current assets | 651.03M | 559.45M | 575.34M | 461.28M | 304.10M |
| Long term investments | - | - | - | 3.70M | - |
| Net tangible assets | -102.06100M | -156.06300M | 91.96M | 32.60M | -109.61300M |
| Short term investments | 184.97M | 193.35M | 136.95M | 91.46M | 33.66M |
| Net receivables | 94.01M | 96.27M | 105.96M | 102.08M | 95.08M |
| Long term debt | 347.58M | 223.35M | 75.00M | 100.00M | 135.00M |
| Inventory | -94.00900M | -96.27300M | -105.96400M | -102.08100M | -95.07900M |
| Accounts payable | 73.90M | 64.02M | 232.38M | 206.46M | 169.97M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | -45.67600M | 16.36M | 15.17M | -0.24900M | -14.61700M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | 441.14M | 449.12M | 418.86M | 392.21M | 367.25M |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | 1015.59M | 1187.00M | 1027.70M | 930.35M | 791.82M |
| Treasury stock | - | -538.46400M | -324.73100M | -281.03200M | -287.33700M |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 31.27M | 33.39M | 28.79M | 45.85M | 37.11M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 1369.45M | 1458.74M | 1485.50M | 1418.85M | 1239.58M |
| Capital lease obligations | 105.20M | 122.72M | 137.77M | 121.12M | - |
| Long term debt total | 347.58M | 223.35M | 75.00M | 100.00M | 135.00M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -32.35700M | 26.56M | -24.82300M | -94.68300M | 0.21M |
| Change to liabilities | -10.26000M | -29.64100M | 9.65M | 23.69M | -87.61600M |
| Total cashflows from investing activities | -32.35700M | 10.82M | -24.82300M | -94.68300M | -174.43900M |
| Net borrowings | 126.65M | 148.35M | -25.00000M | -35.00000M | -35.00000M |
| Total cash from financing activities | -168.51300M | -249.47200M | -295.13600M | -152.68000M | -186.11500M |
| Change to operating activities | 3.65M | -13.00100M | -24.63600M | 0.19M | 8.36M |
| Net income | 234.56M | 272.31M | 336.02M | 277.12M | 222.30M |
| Change in cash | 102.90M | -70.58400M | 59.12M | 92.08M | -159.38300M |
| Begin period cash flow | 238.05M | 308.63M | 249.51M | 157.43M | 316.81M |
| End period cash flow | 340.95M | 238.05M | 308.63M | 249.51M | 157.43M |
| Total cash from operating activities | 323.95M | 170.38M | 373.24M | 334.94M | 206.28M |
| Issuance of capital stock | - | - | - | - | - |
| Depreciation | 28.09M | 30.01M | 28.56M | 25.92M | 17.09M |
| Other cashflows from investing activities | -27.98500M | 21.24M | -11.32300M | -79.63800M | -157.37600M |
| Dividends paid | 97.92M | 105.76M | 207.76M | 109.15M | 106.94M |
| Change to inventory | - | - | - | - | - |
| Change to account receivables | -4.36700M | 6.66M | 11.65M | -7.25000M | -9.90700M |
| Sale purchase of stock | -218.14100M | -228.34900M | -66.75900M | -15.74000M | -29.24700M |
| Other cashflows from financing activities | 509.19M | -63.70900M | 2.93M | 5.78M | -16.36900M |
| Change to netincome | 76.83M | 40.40M | 26.82M | 24.51M | 41.94M |
| Capital expenditures | 4.37M | 10.42M | 13.50M | 15.04M | 17.27M |
| Change receivables | -4.36700M | 6.66M | 11.65M | -7.25000M | -11.08000M |
| Cash flows other operating | -0.90100M | -149.35400M | -40.83100M | -11.13500M | 20.68M |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | 123.08M | -68.27300M | 53.28M | 87.58M | -154.27200M |
| Change in working capital | 3.96M | -12.70400M | -12.28700M | 23.85M | -94.66700M |
| Stock based compensation | 35.51M | 39.70M | 35.45M | 32.95M | 23.89M |
| Other non cash items | 40.56M | -177.96900M | -32.68100M | -32.35700M | 25.41M |
| Free cash flow | 319.58M | 159.96M | 359.74M | 319.89M | 189.01M |
Sector: Financial Services Industry: Asset Management
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| FHI Federated Investors Inc B |
-0.385 1.00% | 38.12 | 10.80 | 9.47 | 1.80 | 2.60 | 1.74 | 6.75 |
| BX Blackstone Group Inc |
-3.685 2.21% | 163.16 | 63.48 | 31.95 | 20.18 | 20.26 | 16.48 | |
| BLK BlackRock Inc |
-0.6 0.06% | 985.74 | 23.92 | 21.23 | 8.04 | 3.78 | 7.54 | 16.86 |
| APO Apollo Global Management LLC Class A |
-3.87 2.41% | 156.40 | 18.23 | 20.92 | 3.08 | 6.11 | 2.73 | 14.76 |
| KKR KKR & Co LP |
-5.035 3.64% | 133.44 | 29.90 | 16.84 | 4.76 | 3.56 | 2.50 | 4.66 |
Federated Hermes, Inc. is a publicly owned investment manager. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors. Through its subsidiaries, it manages separate client-focused equity, fixed income, balanced and money market mutual funds along with separate client-focused equity, fixed income, money market, and balanced portfolios. Through its subsidiaries, the firm invests in the public equity and fixed income markets across the globe. It invests in growth and value stocks of small-cap, mid-cap, and large-cap companies. The firm makes its fixed income investments in ultra-short, short-term, and intermediate-term mortgage-backed, U.S. Government, U.S. corporate, high yield, and municipal securities. It employs both fundamental and quantitative analysis to make its equity investments. Federated Hermes, Inc. was founded in 1955 and is based in Pittsburgh, Pennsylvania with additional offices in New York City and London, United Kingdom.
1001 Liberty Avenue, Pittsburgh, PA, United States, 15222-3779
| Name | Title | Year Born |
|---|---|---|
| Mr. John Christopher Donahue | Pres, CEO & Chairman | 1949 |
| Mr. Thomas Robert Donahue | VP, Treasurer, CFO & Director | 1959 |
| Mr. John Basil Fisher | VP & Director | 1956 |
| Mr. Paul Adam Uhlman | VP | 1967 |
| Ms. Mary Jo Ochson CFA | Head of the Tax-Free Money Market Investment Area, Chief Investment Officer, SVP & Sr Portfolio Mngr | 1953 |
| Mr. Richard Anthony Novak | VP, Assistant Treasurer & Principal Accounting Officer | 1963 |
| Mr. Raymond J. Hanley | Sr. VP | NA |
| Mr. Stephen Paul Van Meter | VP & Chief Compliance Officer | 1975 |
| Mr. Peter J. Germain | Exec. VP, Chief Legal Officer & Sec. | 1959 |
| Mr. J. T. Tuskan | Sr. VP and Director of Marketing & Corp. Communications | NA |
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