Federated Hermes, Inc. (FHI) Stock Analysis
Financial Services · Asset Management · NYSE
Federated Hermes, Inc. (FHI) posted $1.80B in revenue for fiscal 2025 (up 10.3% year over year), at a 22.4% net margin, and has compounded revenue about 4.5%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Federated Hermes, Inc.
Federated Hermes, Inc. has grown revenue from $1.14B to $1.80B over the last 10 fiscal years, compounding about 4.5% a year. The most recent year was up 10.3%, so growth is actually accelerating.
Net margin sits at 22.4%, up 6 points year over year. It carries about $348.37M of total debt.
At today's valuation the market is pricing in roughly 3.6% annual free-cash-flow growth — versus the -3.9% it actually delivered over the last five years, so the price already assumes a step-up from the recent record.
Synthesised from Federated Hermes, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Federated Hermes, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.14B | $1.10B | $1.14B | $1.33B | $1.45B | $1.30B | $1.45B | $1.61B | $1.63B | $1.80B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $208.92M | $291.34M | $220.30M | $272.34M | $326.36M | $270.29M | $239.50M | $298.98M | $268.31M | $403.30M |
| Net margin | 18.3% | 26.4% | 19.4% | 20.5% | 22.5% | 20.8% | 16.6% | 18.6% | 16.4% | 22.4% |
Source: Federated Hermes, Inc. SEC filings (10-K). 18 years of history available in the interactive view.
Federated Hermes, Inc.: no obvious red flags in the filings
Our deterministic scan of the filed statements — receivables vs sales, earnings vs cash, dilution, leverage and margins — didn't flag anything. Ask about the risks →
What growth is priced into FHI stock?
At today's market cap of $4.36B, Federated Hermes, Inc. is priced for free-cash-flow growth of about 3.6% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $294.58M from the FY ending 2025-12-31). For comparison, free cash flow actually grew -3.9%/yr over the last five fiscal years and revenue 4.5%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 18 years of Federated Hermes, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Federated Hermes, Inc. financial history by metric
Compare Federated Hermes, Inc. with peers
About Federated Hermes, Inc.
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; Chicago, Illinois and London, United Kingdom.
Federated Hermes, Inc. — frequently asked questions
What is Federated Hermes, Inc.'s revenue?
Federated Hermes, Inc. (FHI) reported revenue of $1.80B for fiscal year 2025, up 10.3% from the prior year, according to its SEC filings.
Is Federated Hermes, Inc. profitable?
Yes. FHI earned net income of $403.30M in fiscal 2025, a net margin of 22.4%.
What is FHI's P/E ratio?
Federated Hermes, Inc. trades at a price-to-earnings ratio of about 11.2 based on the latest data in our nightly-refreshed cache.
How fast is Federated Hermes, Inc. growing?
FHI's revenue grew at roughly 4.5% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Federated Hermes, Inc. have?
As of fiscal year 2025, FHI carried roughly $348.37M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Federated Hermes, Inc.'s market cap?
Federated Hermes, Inc. (FHI) has a market capitalization of about $4.36B, based on the latest data in our nightly-refreshed cache.
When does Federated Hermes, Inc.'s fiscal year end?
FHI's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into FHI stock?
At today's market cap of $4.36B, Federated Hermes, Inc. is priced for free-cash-flow growth of about 3.6% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $294.58M from the FY ending 2025-12-31). For comparison, free cash flow actually grew -3.9%/yr over the last five fiscal years and revenue 4.5%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Federated Hermes, Inc.'s official SEC filings (10-K and 10-Q), covering 18 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.