FHI Financials Federated Hermes, Inc.

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Nov 1, 2026, 10:31 UTC Overview →

Growth & profitability

Revenue has grown 4.5% per year over the past 5 years.
Net income has grown in line with revenue (4.3% vs 4.5% per year).
Operating margin has been roughly flat, at 28.5% in the latest year.
Free cash flow has declined 3.9% per year over the past 5 years.

Financial health

The company holds more cash ($583M) than total debt ($348M).
Total debt has grown faster than revenue (11.8% vs 4.5% per year).
Operating income covered interest expense 40× in the latest year, down from 156× 5 years ago.
Total debt is 0.7× EBITDA.

Shareholder returns

Dividends have been paid for 4 consecutive years, consuming 26.0% of earnings and 35.6% of free cash flow.
The dividend has grown 2.3% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$1.8B	$403M	0.0%	28.5%	33.7%	18.1%	$295M	$348M	$583M
2024	$1.6B	$268M	0.0%	22.1%	24.5%	12.9%	$343M	$348M	$504M
2023	$1.6B	$299M	0.0%	24.1%	26.5%	14.2%	$304M	$348M	$383M
2022	$1.4B	$239M	0.0%	23.3%	22.9%	11.9%	$320M	$348M	$337M
2021	$1.3B	$270M	0.0%	28.2%	24.3%	13.4%	$160M	$223M	$233M
2020	$1.4B	$326M	0.0%	28.9%	28.7%	15.8%	$360M	—	$302M
2019	$1.3B	$272M	0.0%	26.2%	26.2%	14.5%	$320M	—	$249M
2018	$1.1B	$220M	0.0%	29.1%	25.7%	14.3%	$189M	—	$157M
2017	$1.1B	$291M	0.0%	31.0%	38.3%	23.7%	$378M	—	$316M
2016	$1.1B	$209M	0.0%	29.4%	35.1%	18.1%	$253M	—	$105M
2015	—	$170M	—	—	26.2%	14.3%	$227M	—	$173M
2014	—	$149M	—	—	24.5%	13.1%	$184M	—	$115M
2013	—	$162M	—	—	28.6%	14.3%	$251M	—	$104M
2012	—	$188M	—	—	38.0%	17.3%	$308M	—	$68M
2011	—	$151M	—	—	27.8%	13.1%	$105M	—	$49M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$507M	$112M	0.0%	30.2%	8.7%	4.5%	$120M	$349M	$374M
Jun '26	$503M	$104M	0.0%	26.4%	8.3%	4.5%	$80M	$348M	$302M
Mar '26	$479M	$96M	0.0%	26.4%	8.0%	4.5%	$24M	$348M	$514M
Dec '25	$483M	$107M	0.0%	28.1%	8.9%	4.8%	$162M	$348M	$583M
Sep '25	$469M	$104M	0.0%	27.6%	8.8%	4.8%	$102M	$348M	$506M
Jun '25	$425M	$91M	0.0%	27.6%	8.2%	4.2%	$18M	$348M	$371M
Mar '25	$424M	$101M	0.0%	31.1%	9.4%	5.1%	$13M	$348M	$388M
Dec '24	$425M	$85M	0.0%	26.0%	7.7%	4.1%	$126M	$348M	$504M
Sep '24	$408M	$88M	0.0%	27.4%	8.1%	4.3%	$120M	$348M	$375M
Jun '24	$403M	$21M	0.0%	10.1%	2.1%	1.1%	$83M	$348M	$307M
Mar '24	$396M	$75M	0.0%	24.9%	6.5%	3.6%	$13M	$348M	$360M
Dec '23	$391M	$82M	0.0%	26.2%	7.3%	3.9%	$128M	$348M	$383M
Sep '23	$403M	$75M	0.0%	25.2%	6.8%	3.6%	$104M	$348M	$377M
Jun '23	$433M	$72M	0.0%	22.7%	6.4%	3.5%	$68M	$348M	$343M
Mar '23	$382M	$70M	0.0%	22.3%	6.3%	3.5%	$5M	$348M	$324M
Dec '22	$374M	$56M	0.0%	17.0%	5.4%	2.8%	$132M	$348M	$337M
Sep '22	$381M	$69M	0.0%	25.4%	7.2%	3.5%	$111M	$398M	$305M
Jun '22	$366M	$58M	0.0%	25.2%	6.0%	3.0%	$98M	$397M	$249M
Mar '22	$325M	$56M	0.0%	25.8%	5.3%	2.8%	-$21M	$397M	$262M
Dec '21	$322M	$69M	0.0%	27.5%	6.2%	3.4%	$67M	$223M	$233M

Valuation over time

How the market has priced FHI against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 12.4× (Mar '23) to 11.5× (Nov '26).
The price-to-sales ratio has risen from 2.1× (Mar '23) to 2.6× (Nov '26).
The dividend yield has fallen from 3.3% (Mar '23) to 2.3% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is FHI growing its revenue and profit?

Over the past 5 years, Federated Hermes, Inc.'s revenue has grown 4.5% per year, and net income grown 4.3% per year. These are computed facts, not advice.

How much debt does FHI have?

As of FY2025, Federated Hermes, Inc. reported $348M of total debt against $583M of cash; operating income covered interest expense 40×.

What is FHI's profit margin?

In FY2025, gross margin was —, operating margin 28.5%, and net margin 22.4%.

What is FHI's P/E ratio?

Federated Hermes, Inc.'s P/E (TTM) is 11.02 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the FHI stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 11.5× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.