Federated exited September with $235 billion in long-term managed assets. Fee rates were up 7.0% year over year, average assets under management increased 4.4%, and revenue rose 8.1% to $507 million in the third quarter. Adjusted operating margin increased 260 basis points from a year ago to 30.2%.
With $676.9 billion in money market assets at the end of June 2026, Federated is one of the largest domestic money market managers, despite holding less than 10% of the market.
With 61% of money market AUM in government agency and Treasury funds, Federated has had to waive fees on a large part of its business during periods of extremely low interest rates.
|
Metric
|
FHI
|
IVZ
|
BEN
|
|---|---|---|---|
Price/Earnings (Normalized) | 10.87 | 11.06 | 11.29 |
Price/Book Value | 3.35 | 1.23 | 1.37 |
Price/Sales | 2.15 | 1.77 | 1.75 |
Price/Cash Flow | 10.92 | 6.71 | 17.83 |
|
Metric
|
FHI
|
IVZ
|
BEN
|
|---|---|---|---|
Quick Ratio | 2.34 | 6.82 | 2.84 |
Current Ratio | 2.48 | 6.82 | 2.84 |
Interest Coverage | 45.55 | −2.05 | 18.11 |
|
Metric
|
FHI
|
IVZ
|
BEN
|
|---|---|---|---|
Return on Assets (Normalized) | 17.28% | 4.12% | 4.49% |
Return on Equity (Normalized) | 31.98% | 11.11% | 12.50% |
Return on Invested Capital (Normalized) | 22.44% | 5.84% | 5.01% |
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1-Day Chart
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United States