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Acadian Asset Management
(NYSE:AAMI)
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Rating:67Neutral
Price Target:
$82.00
â–²(22.92% Upside)
Action:Downgraded
Date:06/19/26
The score is driven by very strong earnings-call momentum (record flows/AUM, margin expansion, capital returns) and a supportive technical backdrop, but held back materially by weak TTM cash flow/negative free cash flow and balance-sheet leverage risk, with valuation elevated on P/E despite an exceptionally high dividend yield.
Positive Factors
AUM Growth & Record Net Flows
Sustained, large net inflows and rapid AUM growth materially strengthen the fee base and reduce revenue volatility per dollar of assets. Over 2–6 months, elevated and recurring flows support predictable management fees, improved cash generation potential from scale, and greater distribution leverage for institutional mandates.
Negative Factors
Weak TTM Cash Generation
A recent deterioration to minimal operating cash flow and negative free cash flow creates a structural funding vulnerability. Over the coming months this limits flexibility for seeding, buybacks, and dividends unless cash conversion reaccelerates, possibly increasing reliance on short-term borrowing.
Read all positive and negative factors
Positive Factors
Negative Factors
AUM Growth & Record Net Flows
Sustained, large net inflows and rapid AUM growth materially strengthen the fee base and reduce revenue volatility per dollar of assets. Over 2–6 months, elevated and recurring flows support predictable management fees, improved cash generation potential from scale, and greater distribution leverage for institutional mandates.
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
$2.55B
Dividend Yield0.08%
Average Volume (3M)224.66K
Price to Earnings (P/E)30.6
Beta (1Y)1.37
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 Cap1.24
Enterprise Value/Revenue4.93
Enterprise Value/Gross Profit4.84
Enterprise Value/Ebitda17.10
Forecast
1Y Price Target
$74.67Price Target Upside11.93% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)4.68
Revenue Forecast (FY)$737.63M
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 makes money primarily by charging fees for managing client assets under management (AUM) across its systematic equity strategies. The core revenue stream is management fees, typically calculated as a percentage of AUM and billed periodically ...
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
71.42
Positive
62.62
Positive
55.19
Positive
Market Momentum
0.48
Positive
46.90
Neutral
8.64
Positive
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 75.26, below the 50-day MA of 71.42, and above the 200-day MA of 55.19, indicating a neutral trend. The MACD of 0.48 indicates Positive momentum. The RSI at 46.90 is Neutral, neither overbought nor oversold. The STOCH value of 8.64 is Positive, 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 |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $2.55B | 30.56 | 200.83% | 0.08% | 20.72% | -2.79% | |
65 Neutral | $2.56B | 34.74 | 3.68% | 3.21% | 51.60% | -48.48% | |
64 Neutral | $958.88M | 8.44 | 12.75% | 5.41% | -6.49% | 0.51% | |
64 Neutral | $2.59B | 39.29 | 14.38% | 0.95% | 24.18% | 18.98% | |
60 Neutral | $1.63B | 14.93 | 0.03% | 9.64% | -29.32% | -39.45% |
* Financial Sector Average
AAMI
Acadian Asset Management
71.52
35.95
101.08%
BBT
Beacon Financial Corporation
30.45
5.45
21.82%
VRTS
Virtus Investment Partners
143.50
-34.67
-19.46%
WT
WisdomTree
16.94
5.54
48.65%
TSLX
Sixth Street Specialty Lending
17.17
-4.47
-20.66%
Acadian Asset Management Corporate Events
Business Operations and StrategyShareholder Meetings
Acadian Asset Management Stockholders Approve 2026 Equity Plan
Neutral
Jun 11, 2026
On June 11, 2026, Acadian Asset Management Inc. held its 2026 Annual Meeting of Stockholders in a virtual format, with a quorum established as 32,712,971 of 35,628,988 eligible shares were present or represented by proxy. Stockholders elected all ...
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.