Acadian Asset Management (AAMI)
NYSE:AAMI
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Acadian Asset Management
(NYSE:AAMI)
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Rating:70Outperform
Price Target:
$85.00
â–²(27.42% Upside)
Action:Upgraded
Date:05/19/26
The score is held back primarily by weak TTM cash generation and a historically leveraged/volatile balance sheet, despite solid profitability. Offsetting these risks are strong technical momentum, favorable shareholder-return signals and growth commentary from the earnings call (record flows/AUM and margin expansion), and supportive valuation aided by an unusually high dividend yield.
Positive Factors
AUM and Net Flow Momentum
Sustained, large net inflows and rapid AUM growth are a durable revenue engine for an asset manager. Higher and sticky AUM increases recurring management fees, enhances operating leverage, funds product investment, and strengthens distribution clout, supporting multi-quarter cash generation and growth.
Negative Factors
High Leverage and Volatile Capital Structure
A very high debt-to-equity ratio and historically volatile equity base materially weaken balance-sheet resilience. Elevated leverage limits financial flexibility, magnifies downside risk in stress, and constrains the firm's ability to sustain buybacks/dividends or invest opportunistically if cash generation softens.
Read all positive and negative factors
Positive Factors
Negative Factors
AUM and Net Flow Momentum
Sustained, large net inflows and rapid AUM growth are a durable revenue engine for an asset manager. Higher and sticky AUM increases recurring management fees, enhances operating leverage, funds product investment, and strengthens distribution clout, supporting multi-quarter cash generation and growth.
Read all positive factors
Acadian Asset Management Key Performance Indicators (KPIs)
Any
Assets Under Management by Strategy
Breaks down how the firm's assets are allocated across investment strategies (for example, equities, fixed income, quantitative, and alternatives). Reveals which strategies drive revenue and performance risk, shows whether growth depends on a few approaches or a diversified mix, and highlights capacity limits or scalability for different fee structures.
Breaks down how the firm's assets are allocated across investment strategies (for example, equities, fixed income, quantitative, and alternatives). Reveals which strategies drive revenue and performance risk, shows whether growth depends on a few approaches or a diversified mix, and highlights capacity limits or scalability for different fee structures.
Data provided by:
The Fly
The FlyAcadian Asset Management (AAMI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.71B
Dividend Yield0.08%
Average Volume (3M)224.66K
Price to Earnings (P/E)32.3
Beta (1Y)1.36
Revenue Growth20.72%
EPS Growth-2.79%
CountryUS
Employees383
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)2.35
Shares Outstanding35,628,986
10 Day Avg. Volume279,771
30 Day Avg. Volume224,660
Financial Highlights & Ratios
PEG Ratio-11.96
Price to Book (P/B)28.08
Price to Sales (P/S)2.86
P/FCF Ratio9.42
Enterprise Value/Market Cap1.03
Enterprise Value/Revenue4.35
Enterprise Value/Gross Profit4.28
Enterprise Value/Ebitda15.09
Forecast
1Y Price Target
$68.67Price Target Upside2.93% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)4.68
Revenue Forecast (FY)$721.33M
Acadian Asset Management Business Overview & Revenue Model
Company Description
Acadian Asset Management, Inc. functions as a holding entity that primarily offers asset management services. The company's operations are structured around its "Quant and Solutions" segment. This division applies a sophisticated, data-driven inve...
How the Company Makes Money
AAMI primarily makes money by earning investment management fees for managing client assets. These fees are typically calculated as a percentage of assets under management (AUM) and are billed based on agreed fee schedules for each mandate or fund...
Acadian Asset Management Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call communicated robust and broad-based positive momentum: record net flows, substantial AUM growth (61% YoY), strong revenue and ENI gains (management fees +41%, ENI +85%), widening operating margins and significant shareholder returns. Management acknowledged some manageable near-term headwinds — rising operating costs, mix-driven fee-rate pressure from large Enhanced mandates funding late in the quarter, early-stage seed investments, and slight Managed Vol outflows — but emphasized healthy pipeline, disciplined capital allocation, and strategic investments in AI and infrastructure. Overall, positives materially outweigh the noted challenges.Positive Updates
Strong Earnings Growth (GAAP and ENI)
U.S. GAAP net income attributable to controlling interest increased 21% year over year and GAAP EPS rose 26%. ENI (economic net income) rose 85% to $37.6 million, with ENI diluted EPS of $1.05, up 94% year over year.
Negative Updates
Rising Operating and Compensation Costs
ENI operating expenses increased 13% YoY, driven by higher sales-based compensation, portfolio-related costs from AUM growth, and increased G&A including IT and infrastructure investments. Variable compensation expense rose 35% YoY.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Earnings Growth (GAAP and ENI)
U.S. GAAP net income attributable to controlling interest increased 21% year over year and GAAP EPS rose 26%. ENI (economic net income) rose 85% to $37.6 million, with ENI diluted EPS of $1.05, up 94% year over year.
Read all positive updates
Company Guidance
Management’s forward-looking guidance focused on capital allocation and compensation: assuming revenue mix and levels similar to Q1, contractual allocations imply a full‑year 2026 variable compensation ratio of approximately 40%–43%; the board declared an interim dividend of $0.10 per share payable 06/26/2026 to holders of record on 06/12/2026 and reiterated plans to continue returning excess capital via buybacks and dividends. On liquidity and balance‑sheet guidance, management expects the $85 million revolver draw to be fully paid down by year‑end, with Q1 cash of $129 million, $97 million of seed investments, a $200 million term‑loan balance, current gross debt/adjusted‑EBITDA of 1.3x and net debt/adjusted‑EBITDA of 0.7x. They emphasized continued strong free‑cash‑flow generation supported by average AUM of ~$190 billion (AUM $195.7 billion as of 3/31/2026) and record Q1 net inflows of $21.4 billion (12% of beginning AUM), noted ongoing repurchases (Q1 buybacks ≈100k shares for $4.7 million at a VWAP of $49.77), and said capital allocation will remain dynamic with organic investment and seeding prioritized ahead of dividend and buybacks.Acadian Asset Management Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
38
Negative
Cash Flow
29
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 641.50M | 594.30M | 505.60M | 426.60M | 417.20M | 523.80M |
| Gross Profit | 652.90M | 552.00M | 239.20M | 213.20M | 257.60M | 239.20M |
| EBITDA | 185.00M | 181.50M | 163.60M | 133.40M | 183.90M | 225.10M |
| Net Income | 84.20M | 80.00M | 85.00M | 65.80M | 100.60M | 828.40M |
Balance Sheet | ||||||
| Total Assets | 715.40M | 677.00M | 703.20M | 611.40M | 518.70M | 714.80M |
| Cash, Cash Equivalents and Short-Term Investments | 129.00M | 101.20M | 94.80M | 146.80M | 108.40M | 252.10M |
| Total Debt | 344.50M | 322.80M | 341.60M | 346.30M | 349.30M | 472.50M |
| Total Liabilities | 616.00M | 593.00M | 616.10M | 561.90M | 540.30M | 732.40M |
| Stockholders Equity | 77.50M | 60.60M | 20.00M | 40.20M | -21.60M | -17.60M |
Cash Flow | ||||||
| Free Cash Flow | -9.30M | 180.70M | 45.90M | 54.50M | 100.70M | -26.60M |
| Operating Cash Flow | 4.00M | 192.60M | 55.80M | 68.30M | 116.80M | -11.50M |
| Investing Cash Flow | -5.20M | -38.00M | -50.10M | -43.90M | -13.00M | 1.04B |
| Financing Cash Flow | 27.50M | -129.20M | -54.40M | 1.80M | -233.70M | -1.18B |
Acadian Asset Management Technical Analysis
Positive
66.71
Price Trends
67.90
Positive
60.39
Positive
53.74
Positive
Market Momentum
2.44
Negative
61.40
Neutral
79.98
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AAMI, the sentiment is Positive. The current price of 66.71 is below the 20-day moving average (MA) of 72.78, below the 50-day MA of 67.90, and above the 200-day MA of 53.74, indicating a bullish trend. The MACD of 2.44 indicates Negative momentum. The RSI at 61.40 is Neutral, neither overbought nor oversold. The STOCH value of 79.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AAMI.
Acadian Asset Management Risk Analysis
Acadian Asset Management disclosed 1 risk factors in its most recent earnings report. Acadian Asset Management reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Acadian Asset Management Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $2.71B | 32.26 | 200.83% | 0.08% | 20.72% | -2.79% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $2.56B | 37.71 | 14.38% | 0.95% | 24.18% | 18.98% | |
65 Neutral | $2.49B | 31.20 | 3.68% | 3.21% | 51.60% | -48.48% | |
59 Neutral | $1.63B | 15.15 | 0.03% | 9.64% | -29.32% | -39.45% | |
54 Neutral | $941.64M | 8.07 | 12.75% | 5.41% | -6.49% | 0.51% |
* Financial Sector Average
AAMI
Acadian Asset Management
76.08
44.62
141.80%
BBT
Beacon Financial Corporation
29.67
5.38
22.17%
VRTS
Virtus Investment Partners
140.92
-25.55
-15.35%
WT
WisdomTree
16.77
6.55
64.01%
TSLX
Sixth Street Specialty Lending
17.20
-4.27
-19.89%
Acadian Asset Management Corporate Events
Business Operations and StrategyFinancial Disclosures
Acadian Highlights Systematic Growth and $219B AUM Momentum
Positive
May 19, 2026
Acadian Asset Management Inc. hosted its previously announced Investor Forum in Boston on May 19, 2026, where executives presented an in-depth overview of its systematic investing platform, long-term performance, product strategy and distribution ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.