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Affiliated Managers Group Inc Financials

AMG
Trailing 12 months to June 30, 2026
Revenue $2.3B +11.8% YoY
Net Income $856.2M +93.5% YoY
EPS (Diluted) $28.57 +109.2% YoY
Free Cash Flow $1.1B +16.7% YoY
Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Affiliated Managers Group Inc (AMG) reported $2.3B in revenue over the twelve months to Jun 30, 2026, up 11.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AMG FY2025

Affiliated Managers Group converts earnings into cash and directs it toward repurchases, making capital return its dominant business mechanic.

In FY2025, operating cash flow was $973M against $717M of net income, revealing cash conversion stronger than reported profitability. Free cash flow nearly matched that cash generation because capital expenditures were only $6M, pointing to an asset-light operating model rather than a reinvestment-heavy one.

Revenue was essentially flat from FY2024 to FY2025, but net margin moved from 25.1% to 34.5%; that divergence means the earnings rebound was not primarily a volume story. The available figures do not isolate whether the change came from business mix, costs, or below-operating-line items.

Share repurchases reduced diluted shares by about 9% across FY2024–FY2025 while EPS rose to $22.74, amplifying the per-share result beyond total-earnings growth. At the same time, debt-to-equity reached 0.8x as liabilities rose to $4.8B, showing capital return alongside a more leveraged balance-sheet posture.

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Financial Health Signals

Financial health score not available

Affiliated Managers Group Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial
6/7

Affiliated Managers Group Inc passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
1.36x

For every $1 of reported earnings, Affiliated Managers Group Inc generates $1.36 in operating cash flow ($973.2M OCF vs $716.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$2.1B
YoY+1.6%
5Y CAGR+0.5%

Affiliated Managers Group Inc generated $2.1B in revenue in fiscal year 2025. This represents an increase of 1.6% from the prior year.

Net Income
$716.6M
YoY+40.1%
5Y CAGR+28.8%
10Y CAGR+3.5%

Affiliated Managers Group Inc reported $716.6M in net income in fiscal year 2025. This represents an increase of 40.1% from the prior year.

EPS (Diluted)
$22.74
YoY+50.3%
5Y CAGR+39.3%
10Y CAGR+9.5%

Affiliated Managers Group Inc earned $22.74 per diluted share (EPS) in fiscal year 2025. This represents an increase of 50.3% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow
$967.1M
YoY+4.1%
5Y CAGR-0.7%
10Y CAGR-1.9%

Affiliated Managers Group Inc generated $967.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 4.1% from the prior year.

Cash & Debt
$586.0M
YoY-38.3%
5Y CAGR-10.8%
10Y CAGR+0.4%

Affiliated Managers Group Inc held $586.0M in cash against $2.7B in long-term debt as of fiscal year 2025.

Dividends Per Share
$0.04
YoY0.0%
5Y CAGR-35.2%

Affiliated Managers Group Inc paid $0.04 per share in dividends in fiscal year 2025. That is unchanged from the prior year.

Shares Outstanding
27M
YoY-8.8%
5Y CAGR-8.9%
10Y CAGR-6.8%

Affiliated Managers Group Inc had 27M shares outstanding in fiscal year 2025. This represents a decrease of 8.8% from the prior year.

Margins & Returns

Net Margin
34.5%
YoY+9.5pp
5Y CAGR+24.6pp

Affiliated Managers Group Inc's net profit margin was 34.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 9.5 percentage points from the prior year.

Return on Equity
22.1%
YoY+6.8pp
5Y CAGR+14.9pp
10Y CAGR+4.2pp

Affiliated Managers Group Inc's ROE was 22.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 6.8 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks
$706.3M
YoY-0.5%
5Y CAGR+16.1%
10Y CAGR+5.5%

Affiliated Managers Group Inc spent $706.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 0.5% from the prior year.

Capital Expenditures
$6.1M
YoY+79.4%
5Y CAGR-6.4%
10Y CAGR-16.8%

Affiliated Managers Group Inc invested $6.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 79.4% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

AMG Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

AMG quarterly income statement
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Revenue$640.7M+17.6%$544.9M-2.1%$556.6M+5.4%$528.0M+7.1%$493.2M-0.7%$496.6M-5.3%$524.3M+1.5%$516.4M
SG&A Expenses$107.4M0.0%$107.4M-8.8%$117.7M+17.1%$100.5M+5.0%$95.7M+1.1%$94.7M-3.8%$98.4M+1.4%$97.0M
Interest Expense$40.5M+5.5%$38.4M+10.7%$34.7M+4.5%$33.2M-3.8%$34.5M+1.2%$34.1M-3.1%$35.2M+1.4%$34.7M
Income Tax$70.0M+50.5%$46.5M-68.5%$147.6M+106.1%$71.6M+100.6%$35.7M+30.3%$27.4M-47.9%$52.6M+68.1%$31.3M
Net Income$185.9M+68.4%$110.4M-68.2%$347.5M+63.6%$212.4M+152.0%$84.3M+16.4%$72.4M-55.4%$162.2M+31.2%$123.6M
EPS (Diluted)$6.95+81.0%$3.84-64.8%$10.91+58.8%$6.87+145.4%$2.80+27.3%$2.20-54.9%$4.88+29.1%$3.78

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income.

AMG Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

AMG quarterly balance sheet
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Total Assets$9.4B+0.1%$9.4B+2.0%$9.2B+3.1%$8.9B+1.4%$8.8B+1.1%$8.7B-1.3%$8.8B-0.8%$8.9B
Cash & Equivalents$411.0M+9.3%$376.1M-35.8%$586.0M+23.1%$476.1M+31.9%$361.0M-55.8%$816.5M-14.1%$950.0M-6.0%$1.0B
Accounts Receivable$846.9M-2.8%$871.4M+75.6%$496.2M-25.7%$667.7M+16.9%$571.0M-1.8%$581.7M+42.0%$409.7M-10.4%$457.1M
Goodwill$2.5B-0.5%$2.5B-0.3%$2.5B+0.1%$2.5B-0.4%$2.5B+1.0%$2.5B+0.3%$2.5B-1.1%$2.5B
Total Liabilities$5.2B+1.0%$5.1B+7.6%$4.8B+9.0%$4.4B+1.3%$4.3B+2.0%$4.2B+1.6%$4.2B-1.2%$4.2B
Long-Term Debt$3.0B+2.9%$2.9B+8.4%$2.7B+13.5%$2.4B-9.5%$2.6B0.0%$2.6B0.0%$2.6B0.0%$2.6B
Total Equity$3.0B-1.7%$3.1B-4.6%$3.2B-3.1%$3.3B+3.2%$3.2B+1.6%$3.2B-4.7%$3.3B+0.9%$3.3B
Retained Earnings$7.9B+2.4%$7.7B+1.4%$7.6B+4.8%$7.3B+3.0%$7.1B+1.2%$7.0B+1.0%$6.9B+2.4%$6.7B

Not reported in any period shown, so not listed: Current Assets, Inventory, Current Liabilities.

AMG Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

AMG quarterly cash flow statement
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Operating Cash Flow$239.0M-20.1%$299.3M+16.7%$256.4M-7.5%$277.1M+20.1%$230.8M+10.5%$208.9M-1.7%$212.5M-19.9%$265.2M
Capital Expenditures$0-100.0%$3.8M+100.0%$1.9M+58.3%$1.2M-14.3%$1.4M-12.5%$1.6M+45.5%$1.1M+57.1%$700K
Free Cash Flow$239.0M-19.1%$295.5M+16.1%$254.5M-7.8%$275.9M+20.3%$229.4M+10.7%$207.3M-1.9%$211.4M-20.1%$264.5M
Investing Cash Flow$9.7M+104.2%-$229.0M-536.2%$52.5M-80.6%$270.7M+154.8%-$493.7M-1286.8%-$35.6M-518.8%$8.5M-84.8%$55.8M
Financing Cash Flow-$211.7M+23.7%-$277.3M-38.6%-$200.1M+53.5%-$430.2M-113.5%-$201.5M+36.4%-$316.9M-16.6%-$271.8M-44.6%-$188.0M
Dividends PaidN/AN/A$200K-33.3%$300K+50.0%$200K-33.3%$300K-25.0%$400K+33.3%$300K
Share Buybacks$179.7M-2.9%$185.1M-47.6%$353.1M+366.4%$75.7M-25.3%$101.3M-42.5%$176.2M+46.5%$120.3M+14.7%$104.9M

AMG Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

AMG quarterly financial ratios
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Net Margin29.0%+8.8pp20.3%-42.2pp62.4%+22.2pp40.2%+23.1pp17.1%+2.5pp14.6%-16.4pp30.9%+7.0pp23.9%
Return on Equity6.1%+2.5pp3.6%-7.2pp10.7%+4.4pp6.3%+3.8pp2.6%+0.3pp2.3%-2.6pp4.9%+1.1pp3.7%
Return on Assets2.0%+0.8pp1.2%-2.6pp3.8%+1.4pp2.4%+1.4pp1.0%+0.1pp0.8%-1.0pp1.8%+0.5pp1.4%
Debt-to-Equity0.990.0x0.94+0.1x0.83+0.1x0.71-0.1x0.810.0x0.820.0x0.780.0x0.79
FCF Margin37.3%-16.9pp54.2%+8.5pp45.7%-6.5pp52.3%+5.7pp46.5%+4.8pp41.7%+1.4pp40.3%-10.9pp51.2%

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.

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Frequently Asked Questions

What is Affiliated Managers Group Inc's annual revenue?

Affiliated Managers Group Inc (AMG) reported $2.1B in total revenue for fiscal year 2025. This represents a 1.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Affiliated Managers Group Inc's revenue growing?

Affiliated Managers Group Inc (AMG) revenue grew by 1.6% year-over-year, from $2.0B to $2.1B in fiscal year 2025.

Is Affiliated Managers Group Inc profitable?

Yes, Affiliated Managers Group Inc (AMG) reported a net income of $716.6M in fiscal year 2025, with a net profit margin of 34.5%.

Affiliated Managers Group Inc (AMG) reported diluted earnings per share of $22.74 for fiscal year 2025. This represents a 50.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

As of fiscal year 2025, Affiliated Managers Group Inc (AMG) had $586.0M in cash and equivalents against $2.7B in long-term debt.

Affiliated Managers Group Inc (AMG) had a net profit margin of 34.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Affiliated Managers Group Inc (AMG) paid $0.04 per share in dividends during fiscal year 2025.

Affiliated Managers Group Inc (AMG) has a return on equity of 22.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Affiliated Managers Group Inc (AMG) generated $967.1M in free cash flow during fiscal year 2025. This represents a 4.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Affiliated Managers Group Inc (AMG) generated $973.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Affiliated Managers Group Inc (AMG) had $9.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Affiliated Managers Group Inc (AMG) invested $6.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Affiliated Managers Group Inc (AMG) spent $706.3M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Affiliated Managers Group Inc (AMG) had 27M shares outstanding as of fiscal year 2025.

Affiliated Managers Group Inc (AMG) had a debt-to-equity ratio of 0.83 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Affiliated Managers Group Inc (AMG) had a return on assets of 7.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Affiliated Managers Group Inc (AMG) has a Piotroski F-Score of 6 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Affiliated Managers Group Inc (AMG) has an earnings quality ratio of 1.36x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

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