Alerian MLP Index ETN Financials
This page shows Alerian MLP Index ETN (AMJB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 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).
Balance-sheet funding, not cash self-funding, is the dominant mechanic as reported earnings stay high while operating cash turns negative.
Between FY2022 and FY2025, net income stayed above$37.7B each year, but operating cash flow swung from$107.1B to-$147.8B ; with financing cash flow rebounding to$269.5B as cash fell to$343.3B , the business appears increasingly funded by external balance-sheet movements rather than by internally generated cash.
The return profile is being created more by leverage than by rich asset yields: ROA stayed near
Cash reserves and shareholder distributions moved in opposite directions. From FY2023 to FY2025, cash and equivalents fell from
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Alerian MLP Index ETN's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Alerian MLP Index ETN's revenue grew a modest 2.8% year-over-year to $182.4B. This slow but positive growth earns a score of 46/100.
Alerian MLP Index ETN has elevated debt relative to equity (D/E of 11.21), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
Alerian MLP Index ETN's ROE of 15.7% shows moderate profitability relative to equity, earning a score of 47/100. This is down from 17.0% the prior year.
Alerian MLP Index ETN passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Alerian MLP Index ETN generates $-2.59 in operating cash flow (-$147.8B OCF vs $57.0B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Alerian MLP Index ETN generated $182.4B in revenue in fiscal year 2025. This represents an increase of 2.8% from the prior year.
Alerian MLP Index ETN reported $57.0B in net income in fiscal year 2025. This represents a decrease of 2.6% from the prior year.
Alerian MLP Index ETN earned $20.02 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1.4% from the prior year.
Cash & Balance Sheet
Alerian MLP Index ETN held $343.3B in cash against $0 in long-term debt as of fiscal year 2025.
Alerian MLP Index ETN paid $5.80 per share in dividends in fiscal year 2025. This represents an increase of 20.8% from the prior year.
Alerian MLP Index ETN had 2.70B shares outstanding in fiscal year 2025. This represents a decrease of 3.5% from the prior year.
Margins & Returns
Alerian MLP Index ETN's net profit margin was 31.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.7 percentage points from the prior year.
Alerian MLP Index ETN's ROE was 15.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.2 percentage points from the prior year.
Capital Allocation
Alerian MLP Index ETN spent $31.6B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 67.8% from the prior year.
AMJB Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $49.8B+8.8% | $45.8B-1.4% | $46.4B+3.4% | $44.9B-0.9% | $45.3B+5.9% | $42.8B+0.3% | $42.7B-15.0% | $50.2B |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $15.3B+16.9% | $13.1B-3.3% | $13.6B-1.1% | $13.7B-2.7% | $14.1B+13.0% | $12.5B-2.7% | $12.8B-1.0% | $13.0B |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $23.8B+0.1% | $23.8B-6.5% | $25.5B+1.8% | $25.0B+6.2% | $23.6B-2.6% | $24.2B-10.3% | $27.0B+4.8% | $25.8B |
| Income Tax | $4.0B-3.6% | $4.1B-4.9% | $4.3B+31.9% | $3.3B-12.4% | $3.8B+11.7% | $3.4B-17.4% | $4.1B-22.8% | $5.3B |
| Net Income | $16.5B+27.1% | $13.0B-9.8% | $14.4B-4.0% | $15.0B+2.3% | $14.6B+4.3% | $14.0B+8.8% | $12.9B-28.9% | $18.1B |
| EPS (Diluted) | $5.94 | N/A | $5.07-3.2% | $5.24+3.4% | $5.07 | N/A | $4.37-28.6% | $6.12 |
AMJB Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.9T+10.7% | $4.4T-3.0% | $4.6T+0.2% | $4.6T+4.5% | $4.4T+8.9% | $4.0T-4.9% | $4.2T+1.6% | $4.1T |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $312.1B-9.1% | $343.3B+13.2% | $303.4B-27.8% | $420.3B-1.3% | $425.9B-9.3% | $469.3B+8.1% | $434.3B-18.2% | $530.8B |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $52.7B0.0% | $52.7B0.0% | $52.7B-0.1% | $52.7B+0.2% | $52.6B+0.1% | $52.6B-0.3% | $52.7B+0.2% | $52.6B |
| Total Liabilities | $4.5T+11.7% | $4.1T-3.3% | $4.2T+0.1% | $4.2T+4.7% | $4.0T+9.5% | $3.7T-5.3% | $3.9T+1.6% | $3.8T |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $364.0B+0.4% | $362.4B+0.6% | $360.2B+0.9% | $356.9B+1.6% | $351.4B+1.9% | $344.8B-0.3% | $345.8B+1.6% | $340.6B |
| Retained Earnings | $428.2B+2.9% | $416.1B+2.1% | $407.4B+2.5% | $397.4B+2.8% | $386.6B+2.8% | $376.2B+2.8% | $366.0B+2.5% | $356.9B |
AMJB Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$211.8B-276.9% | $119.7B+364.8% | -$45.2B-253.0% | $29.5B+111.7% | -$251.8B-270.4% | $147.8B+299.5% | -$74.1B-292.6% | $38.5B |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$217.8B-564.5% | $46.9B+320.0% | -$21.3B+87.7% | -$173.1B-46.6% | -$118.1B-770.1% | $17.6B+140.6% | -$43.4B+53.9% | -$94.2B |
| Financing Cash Flow | $400.7B+424.3% | -$123.6B-158.6% | -$47.8B-138.9% | $122.8B-61.4% | $318.1B+374.9% | -$115.7B-1176.7% | $10.7B-60.5% | $27.2B |
| Dividends Paid | $4.4B-1.0% | $4.4B+5.7% | $4.2B-0.6% | $4.2B+10.0% | $3.8B-0.9% | $3.9B+5.6% | $3.7B-3.2% | $3.8B |
| Share Buybacks | $8.3B+0.7% | $8.3B-0.3% | $8.3B+10.5% | $7.5B-0.3% | $7.5B+75.0% | $4.3B-32.4% | $6.4B+19.2% | $5.3B |
AMJB Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 33.1%+4.8pp | 28.3%-2.7pp | 31.0%-2.4pp | 33.4%+1.1pp | 32.3%-0.5pp | 32.8%+2.6pp | 30.2%-5.9pp | 36.1% |
| Return on Equity | 4.5%+1.0pp | 3.6%-0.4pp | 4.0%-0.2pp | 4.2%+0.0pp | 4.2%+0.1pp | 4.1%+0.3pp | 3.7%-1.6pp | 5.3% |
| Return on Assets | 0.3%+0.1pp | 0.3%-0.0pp | 0.3%0.0pp | 0.3%0.0pp | 0.3%-0.0pp | 0.4%+0.0pp | 0.3%-0.1pp | 0.4% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 12.46+1.3 | 11.21-0.5 | 11.66-0.1 | 11.75+0.4 | 11.40+0.8 | 10.61-0.6 | 11.170.0 | 11.17 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Frequently Asked Questions
What is Alerian MLP Index ETN's annual revenue?
Alerian MLP Index ETN (AMJB) reported $182.4B in total revenue for fiscal year 2025. This represents a 2.8% 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 Alerian MLP Index ETN's revenue growing?
Alerian MLP Index ETN (AMJB) revenue grew by 2.8% year-over-year, from $177.6B to $182.4B in fiscal year 2025.
Is Alerian MLP Index ETN profitable?
Yes, Alerian MLP Index ETN (AMJB) reported a net income of $57.0B in fiscal year 2025, with a net profit margin of 31.2%.
What is Alerian MLP Index ETN's net profit margin?
Alerian MLP Index ETN (AMJB) had a net profit margin of 31.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Alerian MLP Index ETN pay dividends?
Yes, Alerian MLP Index ETN (AMJB) paid $5.80 per share in dividends during fiscal year 2025.
What is Alerian MLP Index ETN's return on equity (ROE)?
Alerian MLP Index ETN (AMJB) has a return on equity of 15.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Alerian MLP Index ETN's operating cash flow?
Alerian MLP Index ETN (AMJB) generated -$147.8B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Alerian MLP Index ETN's total assets?
Alerian MLP Index ETN (AMJB) had $4.4T in total assets as of fiscal year 2025, including both current and long-term assets.
What is Alerian MLP Index ETN's debt-to-equity ratio?
Alerian MLP Index ETN (AMJB) had a debt-to-equity ratio of 11.21 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Alerian MLP Index ETN's return on assets (ROA)?
Alerian MLP Index ETN (AMJB) had a return on assets of 1.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Alerian MLP Index ETN's cash runway?
Based on fiscal year 2025 data, Alerian MLP Index ETN (AMJB) had $343.3B in cash against an annual operating cash burn of $147.8B. This gives an estimated cash runway of approximately 28 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Alerian MLP Index ETN's Piotroski F-Score?
Alerian MLP Index ETN (AMJB) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. 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.
Are Alerian MLP Index ETN's earnings high quality?
Alerian MLP Index ETN (AMJB) has an earnings quality ratio of -2.59x, considered low quality (accrual-driven). 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.
How financially healthy is Alerian MLP Index ETN?
Alerian MLP Index ETN (AMJB) scores 15 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.