Federated Hermes (FHI) Operating Expenses (2009 - 2026)
Federated Hermes (FHI) reported Operating Expenses of $369.9 million for Q2 2026, up 20.2% from $307.76 million a year earlier and up 4.9% from the prior quarter.
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Analysis
Federated Hermes (FHI) Operating Expenses (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Federated Hermes' Operating Expenses came in at $1.41 billion, up 16.5% year-over-year; for FY2025, it was $1.29 billion, up 1.3% from FY2024.
- Operating Expenses has increased for four consecutive years, with a five-year compound annual growth rate of 4.5% (FY2020 to FY2025).
- By year, Operating Expenses came in at $1.27 billion in FY2024 (+4.0%), $1.22 billion in FY2023 (+10.2%), $1.11 billion in FY2022 (+18.7%) and $934.18 million in FY2021 (-9.3%).
- The Q2 2026 figure ranks as the highest quarterly Operating Expenses in data going back to Q2 2009.
- Year over year, Operating Expenses has now increased in each of the last four quarters, with growth averaging 7.1% over the last eight quarters.
- The high point for year-over-year Operating Expenses in five years was Q4 2022 (growth of 33.1%); the low point was Q2 2025 (a decline of 15.0%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $352.63 million (Q1 2026), $347.26 million (Q4 2025) and $339.99 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 164.03 Bn | 110.39 Bn | - | 4.62 Bn |
| 2 | Spdr Gold Trust | 134.08 Bn | -423.92 Bn | - | 149.76 Mn |
| 3 | Blackstone | 84.38 Bn | 79.31 Bn | - | 2.38 Bn |
| 4 | Brookfield | 81.99 Bn | -83.40 Bn | 4.47 Bn | 14.94 Bn |
| 5 | Kkr | 81.98 Bn | 48.46 Bn | - | 5.41 Bn |
| 6 | Brookfield Asset Management | 71.20 Bn | 67.45 Bn | - | 659.00 Mn |
| 7 | Apollo Global Management | 66.86 Bn | 4.54 Bn | 10.56 Bn | 8.74 Bn |
| 8 | Wheaton Precious Metals | 60.68 Bn | 56.11 Bn | 687.86 Mn | 133.83 Mn |
| 9 | Franco Nevada | 45.90 Bn | 43.27 Bn | 451.00 Mn | 7.80 Mn |
| 10 | Federated Hermes | 4.22 Bn | 1.86 Bn | - | 369.90 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 369.90 Mn |
| Mar 31, 2026 | 352.63 Mn |
| Dec 31, 2025 | 347.26 Mn |
| Sep 30, 2025 | 339.99 Mn |
| Jun 30, 2025 | 307.76 Mn |
| Mar 31, 2025 | 291.77 Mn |
| Dec 31, 2024 | 314.26 Mn |
| Sep 30, 2024 | 296.71 Mn |
| Jun 30, 2024 | 361.87 Mn |
| Mar 31, 2024 | 297.79 Mn |
| Dec 31, 2023 | 288.93 Mn |
| Sep 30, 2023 | 301.23 Mn |
| Jun 30, 2023 | 334.84 Mn |
| Mar 31, 2023 | 297.02 Mn |
| Dec 31, 2022 | 310.15 Mn |
| Sep 30, 2022 | 284.36 Mn |
| Jun 30, 2022 | 273.69 Mn |
| Mar 31, 2022 | 240.82 Mn |
| Dec 31, 2021 | 233.06 Mn |
| Sep 30, 2021 | 228.19 Mn |
API Access
Federated Hermes Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=FHI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "FHI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=FHI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();