Federated Hermes Funds was Federated Hermes’s largest product and service line in fiscal 2025, bringing in $1.51B of $1.80B (84%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Federated Hermes Funds | $1.19B | $1.35B | $1.37B | $1.51B | ||||||
| Investment Advisory Fees, Net—Affiliates | — | — | — | — | ||||||
| Separate Accounts | $238.64M | $244.95M | $240.42M | $255.76M | ||||||
| Administrative Service Fees, Net—Affiliates | — | — | — | — | ||||||
| Investment Advisory Fees, Net—Other | — | — | — | — | ||||||
| Other Service Fees, Net—Affiliates | — | — | — | — | ||||||
| Other | $18.24M | $16.03M | $17.97M | $33.02M | ||||||
| Other Service Fees, Net—Other | — | — | — | — | ||||||
| Total | $1.45B | $1.61B | $1.63B | $1.80B |
Federated Hermes brought in $1.80B from its three product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 10.3% from $1.63B in fiscal 2024. Federated Hermes Funds was the largest at $1.51B (84.0%), ahead of Separate Accounts at $255.76M (14.2%) and Other at $33.02M (1.8%).
Compared with fiscal 2024, Federated Hermes Funds grew 10.1% to $1.51B and Separate Accounts grew 6.4% to $255.76M. From fiscal 2022 to 2025, combined revenue from these lines grew from $1.45B to $1.80B, a compound annual growth rate of 7.6%. Federated Hermes Funds' share of the total rose from 82.2% to 84.0%.
Money Market was Federated Hermes’s largest revenue line in fiscal 2025, bringing in $947.99M of $1.80B (53%).
| Asset Class | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Money Market | $575.26M | $754.07M | $837.95M | $947.99M | ||||
| Equity | $526.96M | $483.65M | $473.07M | $513.28M | ||||
| Fixed-Income | $206.79M | $189.28M | $195.80M | $197.23M | ||||
| Other | $136.80M | $182.57M | $125.28M | $142.17M | ||||
| Total | $1.45B | $1.61B | $1.63B | $1.80B |
Federated Hermes brought in $1.80B from its four revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 10.3% from $1.63B in fiscal 2024. Money Market was the largest at $947.99M (52.6%), ahead of Equity at $513.28M (28.5%) and Fixed-Income at $197.23M (11.0%). The remaining revenue line, Other, brought in $142.17M.
Compared with fiscal 2024, Other grew fastest, up 13.5% to $142.17M. Every revenue line above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $1.45B to $1.80B, a compound annual growth rate of 7.6%. Money Market's share of the total rose from 39.8% to 52.6%.
Receivables—Affiliates was Federated Hermes’s largest revenue line in fiscal 2025, bringing in $1.51B of $1.80B (84%).
| Related and Nonrelated Parties | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Receivables—Affiliates | — | $1.35B | $1.37B | $1.51B | |
| Receivables—Affiliates & Other | $1.19B | — | — | — | |
| Receivables - Affiliates & Other | — | — | — | — | |
| Receivables, Net Of Reserve Of $21 & $21, Respectively | $256.88M | $260.98M | $258.39M | $288.78M | |
| Total | $1.45B | $1.61B | $1.63B | $1.80B |
Federated Hermes brought in $1.80B from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 10.3% from $1.63B in fiscal 2024. Receivables—Affiliates was the largest at $1.51B (84.0%), ahead of Receivables, Net Of Reserve Of $21 & $21, Respectively at $288.78M (16.0%).
Compared with fiscal 2024, Receivables, Net Of Reserve Of $21 & $21, Respectively grew 11.8% to $288.78M and Receivables—Affiliates grew 10.1% to $1.51B.
Federated Hermes began breaking out Receivables—Affiliates in fiscal 2023, when it brought in $1.35B. Federated Hermes stopped reporting Receivables—Affiliates & Other as a separate revenue line after fiscal 2022, when it brought in $1.19B.
Federated Hermes (FHI) reports its revenue by product and service, by asset class and by related and nonrelated parties. In fiscal 2025, Federated Hermes Funds was its largest product and service line, bringing in $1.51B (84.0% of the total), followed by Separate Accounts at $255.76M (14.2%).
Federated Hermes Funds was Federated Hermes' largest product and service line in fiscal 2025, bringing in $1.51B, or 84.0% of the $1.80B total across its three product and service lines.
Money Market was Federated Hermes' largest revenue line in fiscal 2025, bringing in $947.99M, or 52.6% of the $1.80B total across its four revenue lines.
Federated Hermes Funds grew faster than Separate Accounts in fiscal 2025, up 10.1% from $1.37B to $1.51B. Separate Accounts grew 6.4% to $255.76M.
Every figure comes from Federated Hermes' annual financial filings, as reported. Each line keeps the name Federated Hermes gives it, and years follow its fiscal calendar.
Federated Hermes' revenue by product and service goes back to fiscal 2016, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.