Federated Hermes (FHI)
Market Price (5/16/2026): $54.04 | Market Cap: $3.9 BilSector: Financials | Industry: Asset Management & Custody Banks
Federated Hermes (FHI)
Market Price (5/16/2026): $54.04Market Cap: $3.9 BilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 2.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.6%, FCF Yield is 7.8% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16% Low stock price volatilityVol 12M is 22% Megatrend and thematic driversMegatrends include Sustainable Finance, and Digital & Alternative Assets. Themes include ESG Investing & Green Bonds, Impact Investing Platforms, Show more. | Weak multi-year price returns3Y Excs Rtn is -18% | Key risksFHI key risks include [1] its substantial revenue reliance on money market funds, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 2.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.6%, FCF Yield is 7.8% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16% |
| Low stock price volatilityVol 12M is 22% |
| Megatrend and thematic driversMegatrends include Sustainable Finance, and Digital & Alternative Assets. Themes include ESG Investing & Green Bonds, Impact Investing Platforms, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -18% |
| Key risksFHI key risks include [1] its substantial revenue reliance on money market funds, Show more. |
Qualitative Assessment
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Federated Hermes (FHI) stock has gained about 5% since 1/31/2026 because of the following key factors:
1. Solid Q1 2026 Earnings and Record Assets Under Management (AUM) met expectations but lacked a significant catalyst for further upward momentum.
Federated Hermes reported Q1 2026 diluted earnings per share (EPS) of $1.27, surpassing analyst estimates of $1.19 by approximately 6.3%. Revenue of $478.96 million was essentially in line with the $479.30 million analyst consensus. The company also achieved a record total AUM of $907.1 billion as of March 31, 2026, driven by strong money market and equity assets. Despite these positives, the immediate market reaction to the earnings release on April 30, 2026, was largely flat, suggesting that much of the good news was already priced into the stock or offset by other factors. Net income was slightly lower at $96.4 million compared to $101.1 million in Q1 2025, though the prior year benefited from a one-time VAT refund.
2. Rising operating expenses and fee waivers pressured profit margins despite revenue growth.
While total revenues increased 13.1% year-over-year to $478.96 million in Q1 2026, total operating expenses also saw a significant increase of 20.9% year-over-year, reaching $352.6 million. This led to a decline in the adjusted operating margin to 26.4% from 31.1% in Q1 2025. Additionally, fee waivers, primarily in money market funds, amounted to $110.1 million in the quarter. These elevated costs and fee pressures likely tempered the positive impact of increased AUM and revenue on the stock's valuation.
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1. Solid Q1 2026 Earnings and Record Assets Under Management (AUM) met expectations but lacked a significant catalyst for further upward momentum.
Federated Hermes reported Q1 2026 diluted earnings per share (EPS) of $1.27, surpassing analyst estimates of $1.19 by approximately 6.3%. Revenue of $478.96 million was essentially in line with the $479.30 million analyst consensus. The company also achieved a record total AUM of $907.1 billion as of March 31, 2026, driven by strong money market and equity assets. Despite these positives, the immediate market reaction to the earnings release on April 30, 2026, was largely flat, suggesting that much of the good news was already priced into the stock or offset by other factors. Net income was slightly lower at $96.4 million compared to $101.1 million in Q1 2025, though the prior year benefited from a one-time VAT refund.
2. Rising operating expenses and fee waivers pressured profit margins despite revenue growth.
While total revenues increased 13.1% year-over-year to $478.96 million in Q1 2026, total operating expenses also saw a significant increase of 20.9% year-over-year, reaching $352.6 million. This led to a decline in the adjusted operating margin to 26.4% from 31.1% in Q1 2025. Additionally, fee waivers, primarily in money market funds, amounted to $110.1 million in the quarter. These elevated costs and fee pressures likely tempered the positive impact of increased AUM and revenue on the stock's valuation.
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Stock Movement Drivers
Fundamental Drivers
The 2.8% change in FHI stock from 1/31/2026 to 5/15/2026 was primarily driven by a 6.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312026 | 5152026 | Change |
|---|---|---|---|
| Stock Price ($) | 52.56 | 54.06 | 2.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,743 | 1,856 | 6.5% |
| Net Income Margin (%) | 21.9% | 21.5% | -1.8% |
| P/E Multiple | 10.2 | 9.9 | -3.6% |
| Shares Outstanding (Mil) | 74 | 73 | 1.9% |
| Cumulative Contribution | 2.8% |
Market Drivers
1/31/2026 to 5/15/2026| Return | Correlation | |
|---|---|---|
| FHI | 2.8% | |
| Market (SPY) | 7.1% | 39.7% |
| Sector (XLF) | -3.9% | 40.3% |
Fundamental Drivers
The 13.8% change in FHI stock from 10/31/2025 to 5/15/2026 was primarily driven by a 6.7% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5152026 | Change |
|---|---|---|---|
| Stock Price ($) | 47.50 | 54.06 | 13.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,743 | 1,856 | 6.5% |
| Net Income Margin (%) | 21.9% | 21.5% | -1.8% |
| P/E Multiple | 9.2 | 9.9 | 6.7% |
| Shares Outstanding (Mil) | 74 | 73 | 1.9% |
| Cumulative Contribution | 13.8% |
Market Drivers
10/31/2025 to 5/15/2026| Return | Correlation | |
|---|---|---|
| FHI | 13.8% | |
| Market (SPY) | 9.0% | 41.4% |
| Sector (XLF) | -1.6% | 51.7% |
Fundamental Drivers
The 37.9% change in FHI stock from 4/30/2025 to 5/15/2026 was primarily driven by a 21.0% change in the company's Net Income Margin (%).| (LTM values as of) | 4302025 | 5152026 | Change |
|---|---|---|---|
| Stock Price ($) | 39.21 | 54.06 | 37.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,659 | 1,856 | 11.9% |
| Net Income Margin (%) | 17.7% | 21.5% | 21.0% |
| P/E Multiple | 10.3 | 9.9 | -4.6% |
| Shares Outstanding (Mil) | 78 | 73 | 6.7% |
| Cumulative Contribution | 37.9% |
Market Drivers
4/30/2025 to 5/15/2026| Return | Correlation | |
|---|---|---|
| FHI | 37.9% | |
| Market (SPY) | 34.8% | 44.0% |
| Sector (XLF) | 6.4% | 55.6% |
Fundamental Drivers
The 49.1% change in FHI stock from 4/30/2023 to 5/15/2026 was primarily driven by a 29.6% change in the company's Net Income Margin (%).| (LTM values as of) | 4302023 | 5152026 | Change |
|---|---|---|---|
| Stock Price ($) | 36.26 | 54.06 | 49.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,446 | 1,856 | 28.4% |
| Net Income Margin (%) | 16.6% | 21.5% | 29.6% |
| P/E Multiple | 12.8 | 9.9 | -23.2% |
| Shares Outstanding (Mil) | 85 | 73 | 16.6% |
| Cumulative Contribution | 49.1% |
Market Drivers
4/30/2023 to 5/15/2026| Return | Correlation | |
|---|---|---|
| FHI | 49.1% | |
| Market (SPY) | 84.7% | 45.3% |
| Sector (XLF) | 61.7% | 55.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| FHI Return | 35% | -0% | -4% | 30% | 30% | 8% | 137% |
| Peers Return | 34% | -22% | 9% | 9% | 24% | 14% | 75% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 100% |
Monthly Win Rates [3] | |||||||
| FHI Win Rate | 58% | 50% | 67% | 75% | 58% | 80% | |
| Peers Win Rate | 65% | 42% | 43% | 62% | 62% | 56% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| FHI Max Drawdown | -15% | -27% | -30% | -11% | -14% | -7% | |
| Peers Max Drawdown | -17% | -43% | -30% | -18% | -28% | -18% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: BEN, TROW, IVZ, BLK, STT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/15/2026 (YTD)
How Low Can It Go
| Event | FHI | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -16.7% | -9.5% |
| % Gain to Breakeven | 20.0% | 10.5% |
| Time to Breakeven | 96 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -17.6% | -6.7% |
| % Gain to Breakeven | 21.4% | 7.1% |
| Time to Breakeven | 464 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -24.9% | -24.5% |
| % Gain to Breakeven | 33.1% | 32.4% |
| Time to Breakeven | 199 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -64.3% | -33.7% |
| % Gain to Breakeven | 180.0% | 50.9% |
| Time to Breakeven | 450 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -13.0% | -3.7% |
| % Gain to Breakeven | 14.9% | 3.9% |
| Time to Breakeven | 12 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -30.8% | -12.2% |
| % Gain to Breakeven | 44.5% | 13.9% |
| Time to Breakeven | 606 days | 62 days |
In The Past
Federated Hermes's stock fell -6.9% during the 2025 US Tariff Shock. Such a loss loss requires a 7.4% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | FHI | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -24.9% | -24.5% |
| % Gain to Breakeven | 33.1% | 32.4% |
| Time to Breakeven | 199 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -64.3% | -33.7% |
| % Gain to Breakeven | 180.0% | 50.9% |
| Time to Breakeven | 450 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -30.8% | -12.2% |
| % Gain to Breakeven | 44.5% | 13.9% |
| Time to Breakeven | 606 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -20.3% | -6.8% |
| % Gain to Breakeven | 25.5% | 7.3% |
| Time to Breakeven | 50 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -25.7% | -17.9% |
| % Gain to Breakeven | 34.6% | 21.8% |
| Time to Breakeven | 204 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -57.4% | -53.4% |
| % Gain to Breakeven | 134.5% | 114.4% |
| Time to Breakeven | 1613 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -20.1% | -8.6% |
| % Gain to Breakeven | 25.1% | 9.5% |
| Time to Breakeven | 34 days | 47 days |
In The Past
Federated Hermes's stock fell -6.9% during the 2025 US Tariff Shock. Such a loss loss requires a 7.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Federated Hermes (FHI)
Federated Hermes, Inc. is a publicly owned asset management holding company. 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.
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- Like a focused version of BlackRock or Fidelity, managing a broad range of investment funds and portfolios for individuals and institutions.
- Think of them as an asset manager akin to T. Rowe Price or Vanguard, creating and overseeing mutual funds and separate accounts across stocks, bonds, and money markets.
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- Mutual Funds: Pooled investment vehicles managed across equity, fixed income, balanced, and money market strategies for various client types.
- Managed Portfolios: Customized investment accounts tailored for clients, spanning equity, fixed income, balanced, and money market asset classes.
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J. Christopher Donahue President, Chief Executive Officer and Chairman of the Board
J. Christopher Donahue has served as the President, Chief Executive Officer, and Chairman of the Board of Federated Hermes, Inc. since April 1998. He joined Federated in 1972 as a law clerk and subsequently held various executive positions, including President and Chief Operating Officer from 1993 to 1998. His father, John F. Donahue, co-founded Federated in 1955. Notably, Federated was sold to Aetna Life & Casualty Co. in 1982, but management repurchased Aetna's stake in 1989, reestablishing majority control.
Thomas R. Donahue Director, Vice President, Treasurer and Chief Financial Officer; President, FII Holdings, Inc.
Thomas R. Donahue serves as a Director, Vice President, Treasurer, and Chief Financial Officer of Federated Hermes, Inc., a position he has held since 1998. He is also the President of FII Holdings, Inc. He frequently participates in investor conferences alongside the CEO.
Saker Anwar Nusseibeh Chief Executive Officer, Federated Hermes Limited
Saker Anwar Nusseibeh is the Chief Executive Officer of Federated Hermes Limited, a key international component of Federated Hermes, Inc.
Paul A. Uhlman Vice President; President and Chief Executive Officer of Federated Advisory Companies (effective April 30, 2026)
Paul A. Uhlman will assume the role of President and Chief Executive Officer of the Federated Advisory Companies, effective April 30, 2026. He is currently a Vice President and executive officer of Federated Hermes, Inc. Uhlman joined Federated Hermes in 1990 and has held various leadership roles within the Sales Division, including Intermediary Sales, Liquidity Sales, Strategic Solutions, Retirement, and Institutional Sales.
Bryan M. Burke President, Federated Securities Corp. (effective April 30, 2026)
Bryan M. Burke is slated to become President of Federated Securities Corp. and an executive officer, effective April 30, 2026. He has been with Federated Hermes for 23 years, previously serving as National Sales Director, Strategic Solutions, and Executive Vice President of Federated Securities Corp.
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```htmlKey Risks to Federated Hermes (FHI)
- Dependence on Money Market Funds and Regulatory Changes: Federated Hermes faces significant risk due to its substantial reliance on money market funds, which constitute a large portion of its revenue and managed assets. For instance, cash management operations are expected to generate over half of the company's revenue, and money market funds comprise 75% of its managed assets. This dependence exposes the company to potential adverse impacts from fluctuations in market interest rates and regulatory reforms. The U.S. Securities and Exchange Commission (SEC) has enacted amendments to Rule 2a-7, governing money market funds, which directly affects Federated Hermes by requiring increased liquid assets and potentially raising operational costs while reducing yield potential on its substantial money market assets.
- Market Volatility and Fee Pressure: As an asset management company, Federated Hermes operates within an environment highly susceptible to market volatility and economic downturns. Such conditions can significantly impair the performance of its funds, erode investor confidence, and negatively impact its overall financial results. Furthermore, persistent fee compression on active funds presents an ongoing challenge that could impede the company's long-term growth and affect its valuation. A significant concentration of revenue in investment advisory fees, which accounted for 65% of total revenues as of December 31, 2025, also makes the company vulnerable to market fluctuations in asset fair values or increased fund redemptions.
- Intense Competition and Talent Retention: The global asset management industry is characterized by intense competition, with numerous global and regional firms actively vying for market share through diverse investment strategies and client services. This competitive landscape necessitates continuous innovation, particularly in areas like sustainable investing and digital client engagement. While Federated Hermes employs comprehensive compensation programs to attract and retain highly qualified professionals, securing and retaining top talent remains critical for maintaining its competitive advantage in this dynamic industry.
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- The continued and accelerating shift of investor capital into lower-cost passive investment strategies, such as index funds and exchange-traded funds (ETFs), which directly pressure the fee structures and market share of actively managed funds.
- The increasing sophistication and adoption of technology-driven, automated investment platforms and robo-advisors, offering lower-cost alternatives to traditional human advisory services and managed portfolios.
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Federated Hermes, Inc. (FHI) operates within vast addressable markets across the global and U.S. asset management industry, offering a range of equity, fixed income, balanced, and money market investment products and services to diverse client segments.
Addressable Markets for Federated Hermes' Main Products and Services:
- Global Asset Management Market (Assets Under Management - AUM): The global assets under management (AUM) reached approximately $139 trillion in 2024 and are projected to grow to $200 trillion by 2030. As of June 2025, global AUM hit a record $147 trillion.
- U.S. Asset Management Market (AUM): North American managers accounted for approximately $88.2 trillion in assets in 2024, representing 63% of the total assets managed by the top 500 firms globally. The U.S. asset management market was valued at $52.08 trillion in 2024 and is expected to reach $134.67 trillion by 2030. The U.S. market is projected to be $70.97 trillion in 2026 and $125.98 trillion by 2031.
- Global Mutual Fund Assets (AUM): The global mutual fund assets market was valued at $55,851.0 billion (or approximately $55.85 trillion) in 2024 and is projected to reach $95,815.0 billion (or approximately $95.815 trillion) by 2034. Another estimate places global mutual fund assets at around $67.48 trillion in 2022, with a prediction to reach approximately $145.23 trillion by 2030.
- U.S. Mutual Fund Assets (AUM): The United States mutual funds market was valued at $34.58 trillion in 2024 and is expected to reach $43.25 trillion by 2030. In January 2026, the combined assets of U.S. mutual funds increased to $31.80 trillion. PwC forecasts U.S. mutual fund AUM to grow to $38 trillion by 2030.
- Global Money Market Funds (AUM): Worldwide money market funds (MMFs) had $10.6 trillion in assets under management by mid-2024. In 2023, global MMFs experienced record net inflows of almost EUR 1.4 trillion (approximately $1.5 trillion).
- U.S. Money Market Funds (AUM): Assets in U.S.-based money market funds totaled $6.5 trillion by mid-2024. By December 1, 2025, U.S. money market funds held over $8 trillion in assets. More recently, total money market fund assets in the U.S. increased to $7.82 trillion for the week ended March 11, 2026.
- Global Fixed Income Asset Management Market (AUM): The fixed income asset management market was $77.99 trillion in 2025, and is projected to reach $86.04 trillion in 2026, and $122.76 trillion in 2030.
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Federated Hermes (FHI) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives and market trends:
- Growth in Assets Under Management (AUM) from Money Market and Equity Strategies: The company has consistently reported record AUM, significantly driven by its money market funds, which reached a record high of $682.6 billion by year-end 2025. Anticipated Federal Reserve rate cuts in 2026 are expected to further boost money market fund performance. Additionally, equity assets, particularly through the MDT fundamental quantitative strategies, have demonstrated strong growth and net sales, contributing to overall AUM expansion.
- Expansion into Alternative and Private Markets: Federated Hermes is actively expanding its alternative and private markets business. A key move in this area is the acquisition of a controlling interest in FCP Fund Manager, L.P., a U.S. real estate investment manager, which will enhance its capabilities in the U.S. private real estate sector and complement its existing U.K. operations. The firm is also marketing new funds in European direct lending and global private equity co-investments.
- Innovation in Digital Assets and Tokenization: Federated Hermes is focusing on innovation within digital asset infrastructure and the development of tokenized money market funds. These digital asset initiatives are aimed at enhancing market share in emerging financial technologies.
- Global Outreach and Distribution of MDT Strategies: The company is expanding the global distribution of its MDT strategies, observing considerable interest from international clients. This global expansion also includes establishing a new office in Hong Kong, signaling a commitment to growing its presence in the Asia Pacific region.
- Increasing Demand for ESG-Focused Investment Strategies: Analysts project revenue growth for Federated Hermes, partly driven by expected AUM growth in ESG (Environmental, Social, and Governance)-focused strategies. The company's 2019 rebranding to emphasize "responsible investing" positions it well to capitalize on the rising global demand for sustainable funds.
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Here's a summary of Federated Hermes' (FHI) capital allocation decisions over the last 3-5 years:Share Repurchases
- Federated Hermes authorized a share repurchase program in October 2023, allowing for the repurchase of up to 5,000,000 Class B common shares with no expiration date.
- In October 2024, the Board authorized an additional share repurchase plan of up to 5,000,000 shares of Class B Common Stock.
- As of September 2025, the company repurchased over 1.5 million shares in the prior quarter. The buyback yield was 5.45% in the last 12 months and 5.22% over three years.
Share Issuance
- As part of the acquisition of an 80% interest in FCP Fund Manager, L.P. in October 2025, Federated Hermes planned to issue $23.2 million in Class B common stock at closing.
Outbound Investments
- In October 2025, Federated Hermes agreed to acquire an 80% interest in FCP Fund Manager, L.P., a U.S. real estate investment manager, for up to $331 million. This includes $215.8 million in cash and $23.2 million in Federated Hermes Class B common stock at closing, with opportunities for up to $92 million in contingent consideration over multiple years. This acquisition aims to expand Federated Hermes' private markets/alternatives investment capabilities, particularly in U.S. real estate.
- In 2022, the company completed the acquisition of substantially all assets of C.W. Henderson and Associates, Inc., enhancing its separately managed accounts (SMA) business.
- In 2021, Federated Hermes acquired certain investment management-related assets of Horizon Advisers and purchased the remaining 29.5% interest in London-based Hermes Fund Managers Limited from BT Pension Scheme (BTPS), consolidating its international investment operations. Earlier in 2025, Federated Hermes also acquired Rivington Energy Management Limited, a U.K.-based infrastructure developer.
Capital Expenditures
- Capital expenditures in the last 12 months (as of late 2025/early 2026) amounted to -$2.76 million.
- In Q4 2025, Federated Hermes invested -$426K in capital expenditures, which are focused on funding long-term assets and infrastructure.
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| 07312022 | FHI | Federated Hermes | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 15.2% | 2.1% | -8.7% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 78.03 |
| Mkt Cap | 19.3 |
| Rev LTM | 8,219 |
| Op Inc LTM | 1,279 |
| FCF LTM | 1,312 |
| FCF 3Y Avg | 1,117 |
| CFO LTM | 1,401 |
| CFO 3Y Avg | 1,250 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.3% |
| Rev Chg 3Y Avg | 6.3% |
| Rev Chg Q | 13.6% |
| QoQ Delta Rev Chg LTM | 3.2% |
| Op Inc Chg LTM | 9.8% |
| Op Inc Chg 3Y Avg | 7.0% |
| Op Mgn LTM | 28.1% |
| Op Mgn 3Y Avg | 27.4% |
| QoQ Delta Op Mgn LTM | 0.7% |
| CFO/Rev LTM | 16.3% |
| CFO/Rev 3Y Avg | 19.4% |
| FCF/Rev LTM | 15.4% |
| FCF/Rev 3Y Avg | 18.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 19.3 |
| P/S | 2.5 |
| P/Op Inc | 8.7 |
| P/EBIT | 8.7 |
| P/E | 12.2 |
| P/CFO | 12.0 |
| Total Yield | 7.9% |
| Dividend Yield | 2.9% |
| FCF Yield 3Y Avg | 6.8% |
| D/E | 0.4 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 6.6% |
| 3M Rtn | 6.7% |
| 6M Rtn | 14.3% |
| 12M Rtn | 40.5% |
| 3Y Rtn | 74.2% |
| 1M Excs Rtn | 1.9% |
| 3M Excs Rtn | -1.6% |
| 6M Excs Rtn | 2.6% |
| 12M Excs Rtn | 16.1% |
| 3Y Excs Rtn | -6.4% |
Price Behavior
Price Behavior
| Market Price | $54.06 | |
| Market Cap ($ Bil) | 4.0 | |
| First Trading Date | 05/14/1998 | |
| Distance from 52W High | -6.6% | |
| 50 Days | 200 Days | |
| DMA Price | $56.01 | $52.55 |
| DMA Trend | up | up |
| Distance from DMA | -3.5% | 2.9% |
| 3M | 1YR | |
| Volatility | 28.3% | 22.2% |
| Downside Capture | 106.42 | 83.89 |
| Upside Capture | 66.63 | 90.80 |
| Correlation (SPY) | 39.9% | 44.4% |
FHI Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.66 | 0.58 | 0.64 | 0.70 | 0.74 | 0.66 |
| Up Beta | 0.65 | 0.41 | 0.21 | 0.31 | 0.50 | 0.58 |
| Down Beta | -1.97 | 0.75 | 0.67 | 0.69 | 0.74 | 0.75 |
| Up Capture | 39% | 56% | 91% | 107% | 92% | 37% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 10 | 19 | 33 | 67 | 139 | 395 |
| Down Capture | 339% | 69% | 71% | 72% | 80% | 85% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 12 | 24 | 31 | 58 | 112 | 353 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FHI | |
|---|---|---|---|---|
| FHI | 31.0% | 22.2% | 1.14 | - |
| Sector ETF (XLF) | 1.9% | 14.5% | -0.09 | 55.5% |
| Equity (SPY) | 27.4% | 12.1% | 1.71 | 45.0% |
| Gold (GLD) | 42.5% | 26.8% | 1.30 | 5.6% |
| Commodities (DBC) | 45.4% | 18.5% | 1.88 | -8.0% |
| Real Estate (VNQ) | 11.5% | 13.5% | 0.56 | 37.5% |
| Bitcoin (BTCUSD) | -21.4% | 41.7% | -0.47 | 21.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FHI | |
|---|---|---|---|---|
| FHI | 14.4% | 25.0% | 0.52 | - |
| Sector ETF (XLF) | 8.1% | 18.6% | 0.32 | 62.3% |
| Equity (SPY) | 13.6% | 17.1% | 0.63 | 52.2% |
| Gold (GLD) | 19.4% | 17.9% | 0.88 | 2.8% |
| Commodities (DBC) | 10.9% | 19.4% | 0.45 | 8.8% |
| Real Estate (VNQ) | 2.9% | 18.8% | 0.06 | 42.9% |
| Bitcoin (BTCUSD) | 7.8% | 55.9% | 0.35 | 21.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FHI | |
|---|---|---|---|---|
| FHI | 10.9% | 32.4% | 0.40 | - |
| Sector ETF (XLF) | 12.6% | 22.2% | 0.52 | 69.0% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 58.7% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | -1.7% |
| Commodities (DBC) | 8.3% | 17.9% | 0.38 | 21.3% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.21 | 50.7% |
| Bitcoin (BTCUSD) | 67.9% | 66.9% | 1.07 | 15.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/30/2026 | -6.8% | -6.5% | |
| 1/29/2026 | 0.5% | -1.3% | 8.1% |
| 10/30/2025 | 2.5% | 5.4% | 6.7% |
| 7/31/2025 | -0.7% | 2.6% | 7.8% |
| 4/24/2025 | 4.7% | 6.4% | 10.8% |
| 1/30/2025 | 0.1% | -0.7% | -1.9% |
| 10/24/2024 | 0.1% | 4.0% | 10.5% |
| 7/25/2024 | -1.0% | -4.8% | -2.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 17 |
| # Negative | 13 | 12 | 7 |
| Median Positive | 3.2% | 5.4% | 6.7% |
| Median Negative | -3.3% | -3.1% | -1.9% |
| Max Positive | 8.1% | 12.1% | 24.3% |
| Max Negative | -7.8% | -7.7% | -14.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/01/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 04/25/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 10/25/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Germain, Peter J | EVP, CLO & Sec. | Direct | Sell | 5152026 | 54.30 | 5,000 | 271,477 | 11,536,035 | Form |
| 2 | Burke, Bryan M | Vice President | Direct | Sell | 5082026 | 54.20 | 4,000 | 216,806 | 4,060,838 | Form |
| 3 | Donahue, Thomas R | VP, CFO & Treasurer | Direct | Sell | 3162026 | 57.10 | 30,000 | 1,713,087 | 33,775,909 | Form |
| 4 | Uhlman, Paul A | Vice President | Direct | Sell | 3162026 | 56.23 | 72,392 | 4,070,755 | 14,844,546 | Form |
| 5 | Van, Meter Stephen | VP, Chief Compliance Officer | Direct | Sell | 3062026 | 56.50 | 448 | 25,314 | 1,776,561 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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