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Asset manager known for money market funds plus equity, fixed income and responsible-investing strategies and stewardship services.
Asset manager known for money market funds plus equity, fixed income and responsible-investing strategies and stewardship services.
Earns fees as a percentage of assets under management, with money market funds supplying a large part of assets and a steady base of cash-management clients; those fees are sometimes waived when interest rates are near zero. The 2018 purchase of Hermes in the UK added international and stewardship business, and a Donahue-family voting trust holds the voting shares.
Moat: narrow (scale, brand, installed base). Large money market fund scale and long institutional relationships versus smaller asset managers.
Headquarters: Pittsburgh, Pennsylvania, United States · Founded: 1955 · Employees: 2,091
Size Federated Hermes (FHI) is a United States Financials company (Investment Managers) with a market value of $4.73B, the 1220th largest of 3,117 United States companies the cockpit tracks. Shares closed at $63.99 on 6 Nov 2026.
Performance Over six months the shares gained 14.4%, against +0.6% for the median peer and -1.1% for the United States market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 13.3% over the last twelve months (peer median +13.2%); the operating margin is 28.1% (peer median 31.9%).
Valuation It trades at 10.9× forward earnings against a peer median of 12.6× (5th cheapest of 20).
Backlog Backlog (remaining performance obligations) was $12.5M at 30 Sep 2026, down 17% on a year earlier — 0.0 years of trailing revenue. Backlog detail →
Short interest Short interest is 5.7% of the free float (15 Oct 2026).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.98B | $1.81B | $1.63B | $1.61B | $1.44B |
| Revenue growth | — | +11% | +2% | +12% | — |
| Gross profit | $1.47B | $1.35B | $1.23B | $1.21B | $1.10B |
| EBITDA | $583M | $557M | $457M | $428M | $367M |
| Net income | $401M | $385M | $257M | $285M | $228M |
| Free cash flow | $386M | $295M | $343M | $304M | $320M |
| Capital expenditure | $19.6M | $2.76M | $4.02M | $7.92M | $4.37M |
| Total debt | $495M | $457M | $462M | $458M | $453M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Federated Hermes FHI | $4.73B | +14% | +13% | 28% | 10.9× | n/a |
| BlackRock BLK | $192B | +9% | +24% | 36% | 18.9× | n/a |
| Invesco IVZ | $11.9B | -1% | +17% | 24% | 8.6× | n/a |
| Franklin Resources BEN | $17.1B | +10% | +8% | 15% | 10.6× | n/a |
| T. Rowe Price TROW | $23.1B | +4% | +7% | 36% | 10.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | FHI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.4% | +1.6% | highest of 21 |
| 6-month return | +14.4% | +0.6% | 6th highest of 21 |
| Distance from 52-week high | -5.0% | -16.1% | 3rd highest of 21 |
| Revenue growth (TTM) | +13.3% | +13.2% | 10th highest of 21 |
| Operating margin | 28.1% | 31.9% | 8th lowest of 21 |
| Forward P/E | 10.9× | 12.6× | 5th cheapest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Federated Hermes FHI | United States | $4.73B | +14% | +13% | 28% | 10.9× | n/a | n/a |
| Bridgepoint BPT.L | United Kingdom | $4.79B | +55% | +36% | 49% | 10.7× | n/a | n/a |
| Colliers International CIGI.TO | Canada | $4.88B | -5% | +14% | 7% | 11.8× | n/a | n/a |
| 360 One Wam 360ONE.NS | India | $4.95B | +3% | +25% | 33% | 35.1× | n/a | n/a |
| Hamilton Lane HLNE | United States | $4.99B | +1% | +19% | 58% | 12.3× | n/a | n/a |
| HA Sustainable Infrastructure Capital HASI | United States | $5.00B | -5% | +27% | 69% | 12.6× | n/a | n/a |
| Man EMG.L | United Kingdom | $4.43B | +10% | +24% | 28% | 8.4× | n/a | n/a |
| Caitong Securities 601108.SS | China | $5.12B | -11% | -12% | 31% | 10.7× | n/a | n/a |
| China Cinda Asset Management 1359.HK | Hong Kong | $4.36B | -21% | -25% | 53% | 11.7× | n/a | n/a |
| Ninety One N91.L | United Kingdom | $5.18B | -6% | +10% | 26% | 11.1× | n/a | n/a |
| Anand Rathi Wealth ANANDRATHI.NS | India | $4.18B | +31% | +35% | 41% | 90.5× | n/a | n/a |
| Aberdeen ABDN.L | United Kingdom | $5.36B | +2% | +2% | 37% | 14.3× | n/a | n/a |
| Capital Securities 601136.SS | China | $5.41B | -21% | +1% | 36% | n/a | n/a | n/a |
| StepStone STEP | United States | $5.73B | -15% | +51% | -53% | 18.1× | n/a | n/a |
| China CITIC Financial Asset Management 2799.HK | Hong Kong | $5.83B | -24% | -18% | 135% | 3.1× | n/a | n/a |
| Cohen & Steers CNS | United States | $3.76B | +1% | +13% | 33% | 20.1× | n/a | n/a |
| Eurazeo RF.PA | France | $3.70B | +2% | +18% | -2% | 28.7× | n/a | n/a |
| AMP AMP.AX | Australia | $3.69B | +46% | -5% | -1% | 15.7× | n/a | n/a |
| Vontobel VONN.SW | Switzerland | $6.18B | +36% | +11% | 25% | 12.6× | n/a | n/a |
| Nuvama Wealth Management NUVAMA.NS | India | $3.61B | +25% | +13% | 29% | 26.2× | n/a | n/a |
| First Capital Securities 002797.SZ | China | $3.61B | -24% | -6% | 22% | 21.1× | n/a | n/a |
Federated Hermes reported $12.5M of remaining performance obligations at 30 Sep 2026, down 17% from a year earlier and up 1% from the previous quarter. That is 0.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.