Affiliated Managers (AMG) AI Stock Analysis

• Market Cap: $7.49B
• Dividend Yield: 0.02%
• Average Volume (3M): 284.84K
• Price to Earnings (P/E): 16.2
• Beta (1Y): 0.89
• Revenue Growth: 1.08%
• EPS Growth: 8.24%
• Country: US
• Employees: 4,100
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 6.10
• Shares Outstanding: 28,128,908
• 10 Day Avg. Volume: 330,230
• 30 Day Avg. Volume: 284,836
• PEG Ratio: -0.79
• Price to Book (P/B): 1.72
• Price to Sales (P/S): 2.82
• P/FCF Ratio: 6.19
• Enterprise Value/Market Cap: 1.46
• Enterprise Value/Revenue: 5.36
• Enterprise Value/Gross Profit: 10.36
• Enterprise Value/Ebitda: 9.22
• 1Y Price Target: $328.40
• Price Target Upside: 22.72% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 76 Outperform
• Price Target: $292.00 ▲(9.12% Upside)

AMG's overall stock score is driven by strong earnings call results and positive technical indicators. The company's financial performance is solid but faces challenges in revenue growth and cash flow. Valuation metrics are favorable, supporting the stock's attractiveness. The absence of significant corporate events ensures the focus remains on financial and strategic performance.

Positive Factors

Strategic Collaborations

The strategic collaboration with Brown Brothers Harriman enhances AMG's product offerings and strengthens its position in the U.S. wealth channel, potentially driving long-term growth and market expansion.

Growth in Alternative Assets

The significant growth in alternative assets under management demonstrates AMG's ability to capitalize on market demand for alternative investments, supporting sustained revenue growth and diversification.

Record Net Inflows

Record net inflows indicate strong market confidence and effective client acquisition, bolstering AMG's asset base and providing a foundation for future revenue and earnings growth.

Negative Factors

Challenges in Active Equities

Significant outflows in active equities highlight ongoing challenges in this segment, potentially impacting AMG's revenue and requiring strategic adjustments to mitigate future losses.

Declining Revenue Growth

Declining revenue growth poses a risk to AMG's long-term financial health, necessitating strategic initiatives to boost sales and improve cash flow to sustain competitive advantage.

Declining Return on Equity

A declining return on equity suggests reduced profitability relative to shareholders' equity, potentially affecting investor confidence and requiring efficiency improvements to enhance returns.

Affiliated Managers Business Overview & Revenue Model

Company Description

Affiliated Managers Group, Inc. (AMG) is a global asset management company that partners with boutique investment management firms to provide a diverse range of investment strategies and solutions. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG operates primarily in the financial services sector, focusing on equity, fixed income, and alternative investments. The company is known for its unique business model that allows it to leverage the expertise of its affiliated investment firms while maintaining a decentralized approach to management.

How the Company Makes Money

AMG generates revenue through a variety of channels, primarily by taking a minority equity stake in its affiliated investment firms, which allows it to receive a share of their profits. The company earns management fees based on the assets under management (AUM) of these affiliates, as well as performance fees linked to the investment performance of the funds. Additionally, AMG benefits from distribution and service agreements, where it assists its affiliates in marketing their products, further enhancing its revenue streams. Key partnerships with established asset managers and a growing network of affiliates contribute significantly to AMG's earnings, as the company continues to expand its footprint in the global asset management market.

Affiliated Managers Financial Statement Overview

Summary

Affiliated Managers shows strong profitability and operational efficiency, but faces challenges in revenue growth and cash flow generation. The balance sheet is stable with moderate leverage, but declining return on equity is a concern. Overall, the company is financially sound but needs to address growth and cash flow issues to maintain its competitive edge.

Income Statement

Affiliated Managers has demonstrated strong profitability with a consistent gross profit margin above 55% and a net profit margin around 26% in the TTM period. However, revenue growth has been volatile, with a significant drop in 2023 followed by a recovery in the TTM period. The EBIT and EBITDA margins remain robust, indicating efficient operations, but the decline in EBIT margin from 2024 to TTM suggests some operational challenges.

Balance Sheet

The company's balance sheet reflects moderate leverage with a debt-to-equity ratio around 0.71 in the TTM period, which is a slight improvement from previous years. Return on equity has decreased over the years, indicating a decline in profitability relative to shareholders' equity. The equity ratio remains stable, suggesting a balanced capital structure.

Cash Flow

Cash flow analysis shows a concerning decline in free cash flow growth, with a significant drop in the TTM period. The operating cash flow to net income ratio has decreased, indicating less cash generation from operations relative to net income. However, the free cash flow to net income ratio remains strong, suggesting efficient cash management despite the decline in growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.04B	2.04B	2.06B	2.33B	2.41B	2.03B
Gross Profit	1.06B	1.13B	1.15B	1.26B	1.37B	1.14B
EBITDA	1.19B	1.10B	1.28B	1.93B	1.30B	760.30M
Net Income	531.20M	511.60M	672.90M	1.15B	565.70M	202.20M
Balance Sheet
Total Assets	8.93B	8.83B	9.06B	8.88B	8.88B	7.89B
Cash, Cash Equivalents and Short-Term Investments	476.10M	1.01B	1.27B	1.15B	987.00M	1.11B
Total Debt	2.37B	2.62B	2.54B	2.54B	2.49B	2.31B
Total Liabilities	4.39B	4.18B	4.10B	4.24B	4.49B	3.90B
Stockholders Equity	3.34B	3.35B	3.59B	3.23B	2.79B	2.78B
Cash Flow
Free Cash Flow	924.00M	928.70M	861.90M	1.04B	1.25B	1.00B
Operating Cash Flow	929.30M	932.10M	874.30M	1.05B	1.26B	1.01B
Investing Cash Flow	-250.10M	379.10M	264.50M	-109.90M	-583.70M	-53.70M
Financing Cash Flow	-1.22B	-1.18B	-758.30M	-1.40B	-798.30M	-455.40M

Affiliated Managers Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 267.60
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMG, the sentiment is Positive. The current price of 267.6 is above the 20-day moving average (MA) of 255.95, above the 50-day MA of 245.91, and above the 200-day MA of 202.43, indicating a bullish trend. The MACD of 5.30 indicates Negative momentum. The RSI at 66.25 is Neutral, neither overbought nor oversold. The STOCH value of 90.55 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AMG.

Affiliated Managers Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HLNE	77 Outperform	$6.87B	22.29	31.85%	1.66%	13.01%	21.96%
AMG	76 Outperform	$7.49B	16.25	15.95%	0.02%	1.08%	8.24%
STT	74 Outperform	$32.43B	12.29	11.14%	2.65%	5.62%	49.49%
JHG	73 Outperform	$6.60B	12.57	11.10%	3.67%	14.48%	34.97%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
BX	63 Neutral	$174.96B	41.14	35.17%	3.24%	33.12%	19.86%
STEP	45 Neutral	$7.41B	―	-750.11%	2.29%	92.02%	-1386.34%

Affiliated Managers Corporate Events

AMG’s Earnings Call Highlights Robust Growth and Strategy

AMG’s recent earnings call painted a picture of robust growth and strategic advancement, with a particular emphasis on the company’s success in alternative strategies and strategic collaborations. Despite facing challenges in active equities, the overall sentiment was buoyed by strong performance in alternatives and strategic investments, signaling a positive outlook for the company.

Affiliated Managers Group Reports Strong Q3 2025 Results

Affiliated Managers Group (AMG) is a strategic partner to leading independent investment management firms globally, focusing on generating long-term value through investments in high-quality independent partner-owned firms across private markets, liquid alternatives, and differentiated long-only investment strategies.

Affiliated Managers Reports Strong Q3 2025 Financial Results

On November 3, 2025, AMG announced its financial results for the third quarter and nine months ended September 30, 2025, highlighting a 27% growth in Economic Earnings per share and a 17% increase in Adjusted EBITDA compared to the previous year. The company reported net client cash inflows of approximately $9 billion in the third quarter, driven by strong demand for alternative strategies, and a strategic collaboration with BBH to enhance its position in the U.S. wealth market.

The most recent analyst rating on (AMG) stock is a Buy with a $285.00 price target. To see the full list of analyst forecasts on Affiliated Managers stock, see the AMG Stock Forecast page.

Affiliated Managers Appoints Marcy Engel to Board

On August 14, 2025, Affiliated Managers Group, Inc. announced the appointment of Marcy Engel to its Board of Directors as an independent director, effective September 30, 2025. Engel brings extensive experience in financial services, having served in senior roles at alternative investment firms and investment banks. This appointment coincides with the retirement of Dwight D. Churchill, who has served on the board since February 2010. Churchill’s tenure included leadership roles such as Chair of the Audit Committee and interim Chair, contributing significantly to AMG’s growth and evolution. The changes in the board are expected to bring fresh perspectives while acknowledging Churchill’s impactful service.

The most recent analyst rating on (AMG) stock is a Buy with a $205.00 price target. To see the full list of analyst forecasts on Affiliated Managers stock, see the AMG Stock Forecast page.