AMP (AMP) AI Stock Analysis

• Market Cap: AU$4.36B
• Dividend Yield: 1.65%
• Average Volume (3M): 5.30M
• Price to Earnings (P/E): 24.1
• Beta (1Y): 1.55
• Revenue Growth: -14.92%
• EPS Growth: 179.69%
• Country: AU
• Employees: 2,366
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.05
• Shares Outstanding: 2,531,739,700
• 10 Day Avg. Volume: 6,364,522
• 30 Day Avg. Volume: 5,300,436
• PEG Ratio: -0.72
• Price to Book (P/B): 1.14
• Price to Sales (P/S): 4.88
• P/FCF Ratio: 24.70
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$2.05
• Price Target Upside: 25.18% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: AU$2.00 ▲(21.95% Upside)

AMP Limited's overall stock score reflects significant financial challenges, including high leverage and operational inefficiencies. Technical indicators suggest bearish momentum, and valuation metrics indicate potential overvaluation. While there are some positive trends in net income and free cash flow, the stock faces considerable risks that weigh on its overall score.

Positive Factors

Free cash flow recovery

A shift to positive free cash flow in 2024 signals durable improvement in cash generation, enabling funding for operations, servicing debt and potential reinvestment without relying on external capital. Over 2–6 months this strengthens liquidity and supports strategic deleveraging or product investment.

Improving return on equity

An improved ROE (4.11% in 2024) indicates management is beginning to extract better earnings from limited equity. If sustained, this reflects structural profitability recovery, helping rebuild shareholder capital and supporting long-term competitiveness in wealth and advisory services.

High reported gross margin

A very high gross margin reflects the fee-heavy, low-cost nature of AMP's asset and superannuation businesses, providing structural operating leverage. With stable or recovering revenue, these margins can sustain long-run profitability and support investment in digital platforms and advisor networks.

Negative Factors

Very high leverage

A debt-to-equity ratio of 7.86 and low equity ratio materially reduce financial flexibility and increase interest burden. Over months, high leverage constrains capital allocation, raises refinancing risk if markets tighten, and limits ability to invest in growth or weather revenue volatility.

Sustained revenue decline

A multi-year negative revenue trend erodes the fee base central to AMP's business model. Falling assets under administration and fee income reduce operating leverage and cash generation, forcing tougher pricing or higher costs to maintain service levels and undermining long-term margin sustainability.

Compressed operating profitability

An EBIT margin at or near zero signals structural operational inefficiencies despite revenue and cash improvements. Persistently low operating profit hampers reinvestment, weakens ability to compete on technology/advice, and increases sensitivity to cost shocks over the coming months.

AMP Business Overview & Revenue Model

Company Description

AMP Limited operates as a wealth management company in Australia and internationally. It operates through Australian wealth management (AWM), AMP Bank, AMP Capital, and New Zealand wealth management segments. The AWM segment provides advice, retirement income, and managed investments products, as well as offers superannuation, retirement, and investment solutions; wealth management solutions for retail and corporate; and financial advice and equity investments services. The AMP Bank segment provides residential mortgages, deposits, and transaction banking; and focuses on investing in technology. The AMP Capital segment offers real estate, equities, fixed interest, diversified, multi-manager, and multi-asset funds. The New Zealand wealth management segment provides wealth management solutions, such as KiwiSaver, corporate superannuation, retail investments, and operates wrap investment management platform. AMP Limited was founded in 1849 and is based in Sydney, Australia.

How the Company Makes Money

AMP generates revenue through multiple key streams, primarily from fees associated with its financial products and services. These include management fees from investment products, commissions from insurance policies, and advisory fees charged for financial planning services. Additionally, AMP earns revenue from the administration of superannuation funds and investment platforms. Significant partnerships with financial advisors, institutions, and technology providers also enhance its service offerings, enabling AMP to attract and retain clients while optimizing operational efficiency. The company continuously seeks to innovate its product offerings and expand its market reach, which contributes to its overall earnings.

AMP Financial Statement Overview

Summary

AMP Limited shows some recovery with improved net income and free cash flow. However, high leverage and operational inefficiencies remain significant concerns. The company's financial statements reveal vulnerabilities in revenue growth and cash flow stability, suggesting a cautious outlook.

Income Statement

AMP Limited's income statement shows fluctuating revenue with a significant decline in recent years. The net profit margin improved from a negative value to a positive 17.52% in 2024, indicating some recovery. However, the EBIT margin dropped to zero, which suggests operational inefficiencies. The gross profit margin remained strong at 100% in 2024, but the revenue growth rate has been negative, reflecting challenges in top-line growth.

Balance Sheet

The balance sheet indicates a high debt-to-equity ratio of 7.86 in 2024, pointing to substantial leverage. The equity ratio remains low at 11.01%, suggesting limited financial cushioning. Although there was a slight increase in stockholders' equity, the high leverage poses a financial risk. Return on equity improved to 4.11% in 2024, reflecting better profitability compared to previous years, but overall stability is a concern.

Cash Flow

AMP's cash flow position shows some improvement with positive free cash flow in 2024. However, the operating cash flow remains volatile, previously showing negative values. The free cash flow growth rate is notable from negative to positive, indicating better cash management. Despite this improvement, the overall cash flow stability is weak due to past negative trends.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.73B	856.00M	2.58B	2.24B	1.65B	2.50B
Gross Profit	984.00M	856.00M	2.73B	864.00M	2.25B	2.41B
EBITDA	914.00M	1.92B	1.19B	625.00M	285.00M	595.00M
Net Income	181.00M	150.00M	265.00M	387.00M	-252.00M	177.00M
Balance Sheet
Total Assets	33.35B	33.16B	33.88B	34.95B	32.20B	32.15B
Cash, Cash Equivalents and Short-Term Investments	1.20B	7.18B	1.44B	1.82B	2.92B	2.43B
Total Debt	5.33B	28.71B	28.92B	29.53B	26.25B	25.13B
Total Liabilities	29.61B	29.51B	30.00B	30.77B	28.22B	27.88B
Stockholders Equity	3.73B	3.65B	3.87B	4.17B	3.98B	4.27B
Cash Flow
Free Cash Flow	-922.00M	169.00M	-137.00M	933.00M	1.63B	-2.83B
Operating Cash Flow	-843.00M	216.00M	-105.00M	963.00M	1.68B	-2.74B
Investing Cash Flow	-263.00M	-478.00M	1.25B	-1.32B	-565.00M	3.21B
Financing Cash Flow	992.00M	201.00M	-1.74B	-511.00M	-722.00M	-1.99B

AMP Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.64
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:AMP, the sentiment is Negative. The current price of 1.64 is below the 20-day moving average (MA) of 1.78, below the 50-day MA of 1.76, and above the 200-day MA of 1.58, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 31.80 is Neutral, neither overbought nor oversold. The STOCH value of 19.49 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:AMP.

AMP Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MFG	71 Outperform	AU$1.46B	9.45	16.50%	5.99%	-13.22%	-29.69%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
CNI	65 Neutral	AU$1.65B	19.96	5.59%	6.26%	38.64%	-21.14%
PNI	61 Neutral	AU$3.75B	27.42	19.56%	3.45%	37.42%	38.37%
IFL	51 Neutral	AU$3.13B	192.53	0.72%	―	-15.63%	―
PPT	50 Neutral	AU$2.16B	-36.61	-3.34%	6.01%	2.87%	87.93%
AMP	44 Neutral	AU$4.36B	24.09	4.59%	1.65%	-14.92%	179.69%

AMP Corporate Events

AMP Reports Lapse of 461,724 Conditional Rights

AMP Limited has notified the market that 461,724 AMPAB conditional rights have lapsed as of 31 December 2025 after the conditions attached to those rights were not, or could no longer be, satisfied. The cessation of these securities reduces the company’s pool of potential future equity issuance tied to those rights, marginally affecting its issued capital structure and reflecting the non-fulfilment of performance or service conditions linked to this tranche of rights.

The most recent analyst rating on (AU:AMP) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on AMP stock, see the AU:AMP Stock Forecast page.

AMP sets out key 2026 financial calendar dates

AMP Limited has released its key financial calendar dates for 2026, outlining the timetable for major corporate and reporting events in the year ahead. The schedule includes the deadline for director nominations on 4 February, the release of 2025 full-year financial results on 12 February, the annual general meeting on 10 April, and the 2026 half-year results on 6 August. The publication of these dates provides investors and other stakeholders with visibility over AMP’s upcoming governance and reporting milestones, although the company cautions that the timetable may be adjusted if circumstances require.

The most recent analyst rating on (AU:AMP) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on AMP stock, see the AU:AMP Stock Forecast page.

AMP Limited Updates ASX on Minor Reduction in Its Intra‑Group Shareholding

AMP Limited has filed a notice under subsection 259C(2) of the Corporations Act outlining its current interest in AMP Ltd shares held through its controlled entities. The filing shows that AMP’s controlled entities currently hold or control 20,124,869 ordinary shares, representing 0.79% of total voting shares, down from 20,618,359 shares or 0.81% at the time of the previous notice in September 2025, indicating a small reduction in its intra-group shareholding and confirming there is no net derivative or other economic exposure beyond these voting shares.

The most recent analyst rating on (AU:AMP) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on AMP stock, see the AU:AMP Stock Forecast page.

AMP Limited Completes Redemption of Capital Notes 2

AMP Limited has completed the redemption of all its AMP Capital Notes 2, effectively removing them from the market. This action marks the fulfillment of a prior redemption notice and ensures that all holders have been compensated with the face value and final distribution. This move may streamline AMP’s capital structure and potentially impact its financial strategy moving forward.

The most recent analyst rating on (AU:AMP) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on AMP stock, see the AU:AMP Stock Forecast page.

AMP Settles $29 Million Class Action Over Historical Commissions

AMP has reached an agreement in principle to settle a class action lawsuit concerning commissions for advice and insurance advice, initiated in 2020. The settlement, amounting to $29 million, addresses historical commission payments from July 2014 to February 2021 and involves AMP Limited, its advice licensee subsidiaries, and Resolution Life Australasia. This settlement, which requires court approval, signifies AMP’s effort to resolve past legal issues and concentrate on future growth and customer service.

The most recent analyst rating on (AU:AMP) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on AMP stock, see the AU:AMP Stock Forecast page.

AMP Limited to Suspend and Remove AMP Capital Notes 2

AMP Limited has announced the suspension and upcoming removal of its AMP Capital Notes 2 from quotation on the ASX, pending redemption. This action is specific to the AMP Capital Notes 2 and does not affect any other securities of AMP, indicating a targeted adjustment in their financial instruments.

The most recent analyst rating on (AU:AMP) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on AMP stock, see the AU:AMP Stock Forecast page.

AMP Limited Announces Redemption of Capital Notes 2

AMP Limited has announced the redemption of its $275 million AMP Capital Notes 2, which were issued in December 2019. The redemption will occur on 16 December 2025, with holders receiving $100 per note and a final distribution of $1.8508 per note. This action does not indicate future redemptions of other capital instruments, which would require prior approval from APRA.

The most recent analyst rating on (AU:AMP) stock is a Buy with a A$2.10 price target. To see the full list of analyst forecasts on AMP stock, see the AU:AMP Stock Forecast page.

AMP Limited Announces Director Changes and Strengthens Compliance

AMP Limited announced the appointment of Linda Elkins as a new director effective September 1, 2025, and the resignation of Andrea Slattery effective August 31, 2025. The company acknowledged a delay in submitting the required documentation to the Australian Securities Exchange due to an administrative oversight and has committed to enhancing its internal controls to prevent future occurrences.

The most recent analyst rating on (AU:AMP) stock is a Buy with a A$1.95 price target. To see the full list of analyst forecasts on AMP stock, see the AU:AMP Stock Forecast page.