Alerian MLP Index ETN Financials

amjb

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

2/9

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.

Earnings Quality Low Quality

-2.59x

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.

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).

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Key Financial Metrics

Revenue

$182.4B

YoY+2.8%

5Y CAGR+8.7%

10Y CAGR+6.9%

Alerian MLP Index ETN generated $182.4B in revenue in fiscal year 2025. This represents an increase of 2.8% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$57.0B

YoY-2.4%

5Y CAGR+14.4%

10Y CAGR+8.8%

Alerian MLP Index ETN reported $57.0B in net income in fiscal year 2025. This represents a decrease of 2.4% from the prior year.

EPS (Diluted)

$20.02

YoY+1.4%

5Y CAGR+17.7%

10Y CAGR+12.8%

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 & Debt

$343.3B

YoY-26.8%

5Y CAGR-8.2%

10Y CAGR-0.5%

Alerian MLP Index ETN held $343.3B in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$5.80

YoY+20.8%

5Y CAGR+10.0%

10Y CAGR+12.9%

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.

Shares Outstanding

2.70B

YoY-3.5%

5Y CAGR-2.4%

10Y CAGR-3.0%

Alerian MLP Index ETN had 2.70B shares outstanding in fiscal year 2025. This represents a decrease of 3.5% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

31.3%

YoY-1.7pp

5Y CAGR+7.0pp

10Y CAGR+5.1pp

Alerian MLP Index ETN's net profit margin was 31.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.7 percentage points from the prior year.

Return on Equity

15.7%

YoY-1.2pp

5Y CAGR+5.3pp

10Y CAGR+5.9pp

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.

R&D Spending

N/A

Share Buybacks

$31.6B

YoY+67.8%

5Y CAGR+37.1%

10Y CAGR+18.9%

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.

Capital Expenditures

N/A

amjb Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$182.4B+2.8%	$177.6B+12.3%	$158.1B+22.9%	$128.7B+5.8%	$121.6B+1.4%	$120.0B
Cost of Revenue	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
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$97.9B-3.4%	$101.3B+24.6%	$81.3B+211.6%	$26.1B+370.0%	$5.6B-44.2%	$10.0B
Income Tax	$15.5B-6.4%	$16.6B+37.7%	$12.1B+42.0%	$8.5B-24.4%	$11.2B+68.0%	$6.7B
Net Income	$57.0B-2.4%	$58.5B+18.0%	$49.6B+31.5%	$37.7B-22.1%	$48.3B+65.9%	$29.1B
EPS (Diluted)	$20.02+1.4%	$19.75+21.7%	$16.23+34.2%	$12.09-21.3%	$15.36+73.0%	$8.88

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$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+19.7%	$41.9B
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$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+5.8%	$24.4B
Income Tax	$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+36.4%	$3.9B
Net Income	$13.0B-9.5%	$14.4B-4.0%	$15.0B+2.3%	$14.6B+4.6%	$14.0B+8.6%	$12.9B-28.9%	$18.1B+35.2%	$13.4B
EPS (Diluted)	$4.64-8.5%	$5.07-3.2%	$5.24+3.4%	$5.07+5.2%	$4.82+10.3%	$4.37-28.6%	$6.12+37.8%	$4.44

amjb Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$4.4T+10.5%	$4.0T+3.3%	$3.9T+5.7%	$3.7T-2.1%	$3.7T+10.6%	$3.4T
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$343.3B-26.8%	$469.3B-24.8%	$624.2B+10.0%	$567.2B-23.4%	$740.8B+40.4%	$527.6B
Inventory	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
Goodwill	$52.7B+0.3%	$52.6B-0.1%	$52.6B+1.9%	$51.7B+2.7%	$50.3B+2.2%	$49.2B
Total Liabilities	$4.1T+11.1%	$3.7T+3.1%	$3.5T+5.2%	$3.4T-2.2%	$3.4T+11.1%	$3.1T
Current Liabilities	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
Total Equity	$362.4B+5.1%	$344.8B+5.1%	$327.9B+12.2%	$292.3B-0.6%	$294.1B+5.3%	$279.4B
Retained Earnings	$416.1B+10.6%	$376.2B+13.0%	$332.9B+12.3%	$296.5B+8.9%	$272.3B+14.9%	$237.0B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$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+1.3%	$4.1T
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$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-5.6%	$562.1B
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%	$52.7B-0.1%	$52.7B+0.2%	$52.6B+0.1%	$52.6B-0.3%	$52.7B+0.2%	$52.6B0.0%	$52.6B
Total Liabilities	$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+1.3%	$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	$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+1.2%	$336.6B
Retained Earnings	$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+4.2%	$342.4B

amjb Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$147.8B-251.8%	-$42.0B-423.8%	$13.0B-87.9%	$107.1B+37.2%	$78.1B+197.7%	-$79.9B
Capital Expenditures	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
Investing Cash Flow	-$265.6B-62.5%	-$163.4B-341.6%	$67.6B+149.1%	-$137.8B-6.6%	-$129.3B+50.6%	-$261.9B
Financing Cash Flow	$269.5B+324.8%	$63.4B+348.1%	-$25.6B+79.7%	-$126.3B-145.7%	$276.0B-53.7%	$596.6B
Dividends Paid	$16.6B+12.5%	$14.8B+9.8%	$13.5B-0.7%	$13.6B+5.5%	$12.9B+1.3%	$12.7B
Share Buybacks	$31.6B+67.8%	$18.8B+91.7%	$9.8B+210.7%	$3.2B-82.8%	$18.4B+182.5%	$6.5B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$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+125.0%	-$154.2B
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	$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-117.2%	-$43.4B
Financing Cash Flow	-$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-80.7%	$141.2B
Dividends Paid	$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+8.1%	$3.5B
Share Buybacks	$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+88.4%	$2.8B

amjb Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	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
Net Margin	31.3%-1.7pp	32.9%+1.6pp	31.3%+2.1pp	29.3%-10.4pp	39.7%+15.4pp	24.3%
Return on Equity	15.7%-1.2pp	17.0%+1.8pp	15.1%+2.2pp	12.9%-3.5pp	16.4%+6.0pp	10.4%
Return on Assets	1.3%-0.2pp	1.5%+0.2pp	1.3%+0.3pp	1.0%-0.3pp	1.3%+0.4pp	0.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	11.21+0.6	10.61-0.2	10.82-0.7	11.54-0.2	11.73+0.6	11.12
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
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	28.4%-2.6pp	31.0%-2.4pp	33.4%+1.1pp	32.3%-0.4pp	32.8%+2.5pp	30.2%-5.9pp	36.1%+4.1pp	32.0%
Return on Equity	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%+1.3pp	4.0%
Return on Assets	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%+0.1pp	0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	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+0.0	11.15
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 31.3%.

What is Alerian MLP Index ETN's earnings per share (EPS)?

Alerian MLP Index ETN (amjb) reported diluted earnings per share of $20.02 for fiscal year 2025. This represents a 1.4% 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.

What is Alerian MLP Index ETN's net profit margin?

Alerian MLP Index ETN (amjb) had a net profit margin of 31.3% 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.

Does Alerian MLP Index ETN buy back shares?

Yes, Alerian MLP Index ETN (amjb) spent $31.6B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Alerian MLP Index ETN have outstanding?

Alerian MLP Index ETN (amjb) had 2.70B shares outstanding as of fiscal year 2025.

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 7–9 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.