AMGNYSEInvestment AdviceFiscal year ends December 31Also trades as MGR, MGRB, MGRD, MGRE
AFFILIATED MANAGERS GROUP, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026
$385.10+1.34 (+0.35%)
Close on Oct 19, 2026
- Market cap
- $10.36B
- P/E (TTM)
- 13.7
- Dividend yield
- 0.01%
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
–
Net margin
34.5%+24.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +1.6% | -3.8% | +0.5% | – | |
| Net income | +40.1% | -14.5% | +28.8% | +3.5% | |
| EPS, diluted | +50.3% | -3.6% | +39.3% | +9.5% | |
| Free cash flow | +4.1% | -2.5% | -0.7% | -1.9% | |
| Dividend per share | 0.0% | 0.0% | -35.2% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 14.6% | 7.1% | 21.8% | |
| Return on assets | 5.7% | 2.6% | 7.9% | |
| Interest coverage | 11.3× | – | – | |
| Capex to revenue | 0.9% | 0.4% | 0.3% | |
| Diluted shares | 57M | 47M | 33M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Affiliated Managers generated $5.09B from operations and spent $3.12B on capital expenditure, dividends and share buybacks. 1% of that went back into the business.
Generated
$5.09B
Used
$3.12B
Capital expenditure$41.70M1%Dividends$7.20M0%Share buybacks$3.07B98%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin34.5%
×Asset turnover0.23×
×Equity multiplier2.74×
=Return on equity, FY202521.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 34.5% | 0.23× | 2.74× | 21.8% |
| FY2024 | 25.1% | 0.23× | 2.58× | 14.8% |
| FY2023 | 32.7% | 0.23× | 2.63× | 19.7% |
| FY2022 | 49.2% | 0.26× | 2.95× | 38.1% |
| FY2021 | 23.4% | 0.29× | 3.01× | 20.3% |
| FY2020 | 10.0% | 0.26× | 2.72× | 7.1% |
| FY2019 | 0.7% | 0.28× | 2.48× | 0.5% |
| FY2018 | 10.2% | 0.28× | 2.32× | 6.7% |
| FY2017 | 29.9% | 0.26× | 2.35× | 18.5% |
| FY2016 | 21.5% | 0.27× | 2.56× | 14.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$716.60M
- Cash generatingOperating cash flow above zero$973.20M
- Return on assets improvedROA up on the prior year5.6% → 8.1%
- Earnings backed by cashOperating cash flow above net income$973.20M vs $716.60M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise36M → 33M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.23 → 0.23