Foreign exchangemixed · 4 filings
“Other expense increased $27.4 million primarily due to (1) a value added tax (VAT) refund received in 2025 related to amended VAT filings in the U.K.”10-Q · Jul 31, 2026 ↗
Federated Hermes, Inc.
FHI
Market read
Federated Hermes, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 12 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.
Company-2.3% todayVolume comparison unavailable
Market group0 of 12 activeMixed Technology and Finance · unavailable
Disclosed network0 of 0 confirmingRelationship data unavailable
What would change this read
Watch this read- FHI's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if FHI's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 12 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- FHI's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations328
Usable filing statements134
Verified relationships3
Evidence supporting the case
- Latest annual revenue changed +10.3% year over year.
- Operating margin changed +6.4 percentage points in the latest annual period.
- Net margin changed +6.0 percentage points in the latest annual period.
- Foreign exchange has repeated favorable evidence across 4 filings.
Evidence challenging the case
No qualifying adverse evidence was identified; that is not proof there is no downside.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 11, 2026
59.596m+5.4%12m+12.8%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$1.3B-10.2%$2.75-2.8%
2022-12-31$1.4B+11.2%$2.65-8.5%
2023-12-31$1.6B+11.3%$3.40-2.2%
2024-12-31$1.6B+1.4%$3.23-5.3%
2025-12-31$1.8B+10.3%$5.13-5.4%
What management says matters
Persistent and emerging business drivers
Legal and regulatory exposuremixed · 3 filings
“As a result of the highly regulated nature of the investment management business, management anticipates that aggregate expenditures for compliance and investment management personnel, compliance systems and technology and related professional and consulting…”10-K · Feb 27, 2026 ↗
Restructuring and cost reductionsmixed · 3 filings
“88 The effective tax rate for 2025 decreased to 24.4 % as compared to the effective tax rate for 2024 of 29.7 % prim arily due to the impact in 2024 of a valuation allowance on foreign deferred tax assets and the impairment of an indefinite-lived intangible a…”10-K · Feb 27, 2026 ↗
Demand and volumemixed · 1 filings
“Federated Hermes’ business and offerings are subject to various U.S.”10-K · Feb 27, 2026 ↗
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Scenario scaffold
Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.
Price action
How the market is pricing the story
59.59-2.3% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for FHI. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for FHI. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind FHI
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Filing peers
No filing peers are available for this name yet.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
FHI is currently a Participant in the organic co-movement group Mixed Technology and Finance. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.
This group is retained as the last observed read for FHI; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.