Affiliated Managers Group AMG
United StatesFinancial Services · Asset ManagementUSD
440.43 USD (+16.8%)
7 analysts
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Affiliated Managers Group (AMG) is an asset management company that invests in a global network of independent equity, fixed income, and alternatives managers, providing them with capital and operational services in exchange for stakes in their revenues.
Key points
from its scores- ✓Strong growth9.5
- ✓Good share-price trend9.2
- ✓High-quality business8.8
- ✕Little or no dividend1.4
- !Somewhat demanding valuation5.4
AI analysis
bottom line, main risk, context and newsFundamentals are strong and growth is exceptional, but the low dividend yield and sector regulatory risk limit short-term appeal.
AMG shows solid financial health (ROE 24.26%) and high business quality (operating margin 30.36%), with exceptional earnings growth of 148.20% that justifies its momentum. Valuation is reasonable (P/E 13.21, forward 8.81), although dividend yield is negligible (0.01%).
The main risk is the structural pressure on management fees in the asset management sector and regulatory scrutiny in the US, which could compress future margins despite strong current results.
Context and risks
AMG's asset management business is subject to ongoing regulatory scrutiny in the US (SEC rules on fee disclosure and conflicts of interest) and pressure on management fees, a structural sector risk not captured by financial metrics. The country's governance adds a moderate reference risk.
Is Affiliated Managers Group stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 35% above the Financial Services median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 13.2 | 13.7 | −4% |
| EV / EBITDA | 21.8 | 10.1 | +116% |
| Price / book | 3.2 | 1.9 | +74% |
| Price / sales | 4.3 | 3.5 | +24% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 5.4 out of 10 (median for Financial Services: 5.2).
Average analyst target: 440.43 USD, +16.8% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 8.8 (sector 8.8), Growth 9.5 (sector 6.9).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Financial Services medianValuation
- P/E
- 13.2
- Forward P/E
- 8.8
- EV / EBITDA
- 21.8
- Price / book
- 3.2
- Price / sales
- 4.3
- PEG
- 0.64
- Market cap
- 9.8B USD
- Enterprise value
- 13.6B USD
Profitability
- ROE
- 24.3%
- ROA
- 3.1%
- ROIC (approx.)
- 11.1%
- Gross margin
- 50.3%
- Operating margin
- 30.4%
- Net margin
- 37.7%
- Free cash flow
- 277.2M USD
- FCF yield
- 2.8%
- Cash conversion
- 44%
Solvency
- Total debt
- 3.2B USD
- Net debt
- 2.7B USD
- Cash
- 502.8M USD
- EBITDA
- 625.6M USD
- Net debt / EBITDA
- 4.31
- Debt / equity
- 76.10
- Current ratio
- 101.31
- Quick ratio
- 101.31
Growth
- Revenue growth
- +29.9%
- Earnings growth
- +148.2%
- EPS (TTM)
- 28.54 USD
- EPS (forward)
- 42.82 USD
Dividend
- Dividend yield
- 0.0%
- Payout
- 0.1%
Risk and market
- Beta
- 1.07
- Analyst consensus
- Strong buy (7)
- Target price
- 440.43 USD
- 52-week range
- 230.26 – 392.92
Recent news
All AMG news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about Affiliated Managers Group
Is Affiliated Managers Group stock cheap or expensive?
On P/E and Price / book, it trades 35% above the Financial Services median on average. Valuation score: 5.4 out of 10 (median for Financial Services: 5.2). Average analyst target: 440.43 USD, +16.8% versus the price. This is not investment advice.
What score does Affiliated Managers Group get on MeridIAn Screener?
It scores 6.6 out of 10, rank 423 of 2,130 (better than 77% of the companies analysed). Its strongest category is Growth (9.5) and its weakest, Dividend (1.4). Analysis of 08/10/2026.
What is Affiliated Managers Group's P/E ratio?
Its P/E is 13.2: the share price equals 13.2 times earnings per share over the last 12 months. The Financial Services median is 13.7. Based on the earnings analysts expect, the forward P/E is 8.8.
How much is Affiliated Managers Group worth on the stock market?
Its market capitalisation is 9.8B USD.
Does Affiliated Managers Group pay a dividend?
It pays no dividend, or almost none.
How has Affiliated Managers Group stock performed over the last year?
It has risen 63.4% over the last year, excluding dividends. Over the last 52 weeks it has traded between 230.26 and 392.92 USD. Past performance does not guarantee future results.
What do analysts think of Affiliated Managers Group?
7 analysts cover it; their average recommendation is “Strong buy” and their average target is 440.43 USD (+16.8% versus the price). It is an estimate, not market data.