Affiliated Managers Group, Inc. (AMG) AI Stock Analysis

Affiliated Managers Group, Inc. (AMG) provides investment management services across the United States and globally. Founded in 1993 and based in West Palm Beach, Florida, AMG operates through an affiliate network providing advisory and sub-advisory services to mutual funds. These funds serve retail investors, high net worth individuals, and institutional clients. Its distribution channels include independent investment advisors, retirement plan sponsors, broker-dealers, and fund marketplaces. Products span small, mid, and large-cap value and growth equities, emerging markets, quantitative, alternative, and fixed income strategies. AMG also delivers customized investment counseling and fiduciary services to foundations, endowments, and defined benefit and contribution plans.

Revenue expanded at a 5-year CAGR of 3.8% from FY2020 to FY2025. Annual revenue decreased 3.4% in FY2022 to $2.33B, dropped 11.7% in FY2023 to $2.06B, and declined 0.8% in FY2024 to $2.04B, before increasing 19.8% to $2.45B in FY2025. Gross margin rose to 86.0% in FY2025 from 55.2% in FY2024, while operating margin was 31.8%. Net income reached $716.6M in FY2025 with diluted EPS of $26.17. In the latest quarter ended June 30, 2026, quarterly revenue grew 29.9% year-over-year, and quarterly earnings grew 148.2% year-over-year. Trailing twelve month revenue reached $2.27B with a profit margin of 37.7%.

As of June 30, 2026, AMG held $411.0M in cash and short-term investments against total debt of $3.00B, resulting in net debt of $2.59B. Shareholders' equity stood at $3.04B, and total assets were $9.40B. The company recorded a current ratio of 1.24 and a debt-to-equity ratio of 0.99. In FY2025, AMG generated $1.01B in operating cash flow and $1.00B in free cash flow. Capital expenditures totaled $6.1M, while cash deployment was driven by $706.3M in share buybacks and $1.0M in dividends paid, contributing to a 5-year share count change of -38.7%.

AMG trades at a trailing P/E of 13.4x, above the 12.1x median of its US-listed Financial Services peers, but its forward P/E of 8.8x sits below the peer median of 10.8x. Its EV to EBITDA ratio is 7.2x, compared to the peer median of 11.7x. The company has a PEG ratio of 0.61 and a price-to-sales multiple of 4.4x versus the peer median of 3.2x. AMG's stock gained 64.1% over the past year and 140.1% over five years, outperforming the S&P 500 (SPY) returns of 16.8% and 83.0% over the same periods.

AMG pays an annual forward dividend of $0.04 per share, translating to a dividend yield of 0.01% and a payout ratio of 0.1%. Dividends are distributed quarterly and have been paid for 10 consecutive years. The 5-year annualized dividend growth is -35.2%, and the last ex-dividend date was August 10, 2026.

AMG holds 5 Strong Buy, 1 Buy, and 1 Hold ratings, with 0 Sell or Strong Sell recommendations. The mean price target is $445.71, representing 16.1% upside compared to the last close of $383.76. Analysts estimate current fiscal year revenue of $2.48B and EPS of $37.13, implying 42.5% EPS growth. AMG beat EPS estimates in each of the last 4 quarters. The next earnings date is November 2, 2026.

This page is an AI-written research summary of Affiliated Managers Group, Inc. (AMG). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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