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Affiliated Managers Group
NYSE: AMG Financials AMC 🔎 Screen
🏹 Trader: 🚀 Stage 2 + Near High 📈 Stage 2 🎯 Near 52W High | BRS 85 Ready View all →
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$10.0B
Market Cap
12.7
P/E
0.55
PEG
4.8%
ROCE
19.9%
ROE
0.61
D/E
19.6%
OPM
-3.3%
% from 52W High
85
α RS
🔍 AMG is showing a high-conviction setup because it matches 5 of 37 tracked screener presets, Sector RRG has Financials in the Improving quadrant with the trail still strengthening, and RS Rating is 85. Net: Broad signal stack, not a recommendation. ? Conviction RRG RS Rating
Sources
Conviction 5/37 · Financials in Improving quadrant · RS Rating 85
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🌏 Global Investor Returns
Currency-adjusted total returns for AMG including FX impact
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📈 Price History
Ratio Health
Excellent
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Average
Poor
By Category
📊 Sector Averages
About

Affiliated Managers Group, Inc., through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States.

Key Ratios Snapshot
📈 Growth Pattern
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⭐ Superinvestors Holding AMG
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 109.8K $30.4M 0.05% Mar 2026
Steve Cohen Point72 Asset Management 44.3K $12.3M 0.02% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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📊 MIXED AMG reports record Q1 2026: Adj EBITDA $317M, net flows $22B.
Revenue & Profitability
First quarter 2026 results: Adjusted EBITDA of $317 million, up 39% year-over-year; Economic earnings per share of $8.23, up 58%. Fee-Related Earnings (excluding net performance fees) grew 29% year-over-year. Net Performance Fee earnings were $49 million in the quarter. The company generated record net client cash flows of more than $22 billion. For Q2 2026, management guided Adjusted EBITDA in the range of $290-$305 million and Economic EPS between $7.60 and $8.01, with the midpoint representing about 45% growth over Q2 2025.
Outlook
Management expressed confidence in secular demand for alternative strategies, particularly infrastructure (driven by population growth, aging assets, digitalization, and energy security), secondary solutions (addressing liquidity needs in private equity), absolute return strategies (low correlation to markets), and tax-aware long-short strategies (after-tax compounding). These tailwinds are expected to sustain organic growth. Headwinds include volatile market conditions and ongoing net outflows in equity strategies ($9B in Q1), though overall flow momentum is improving.
Growth Drivers
Four key growth areas were highlighted: infrastructure (managed by affiliates like Ara, EIG, Qualitas Energy, and Pantheon), secondary solutions (led by Pantheon), absolute return strategies (multi-strategy, global macro, relative value fixed income, trend following), and beta-sensitive/tax-aware long-short strategies (AQR and others). In Q1, liquid alternatives contributed $25B in net inflows; private markets added $4B. The wealth channel is also a growth vector, with evergreen products such as P-BUILD (infrastructure secondaries), P-SECC (credit secondaries), and P-PEXX (private equity co-investments/secondaries).
Balance Sheet & CapEx
Not discussed in this earnings call. Capital allocation was addressed: $186 million in share repurchases in Q1, with a full-year target of approximately $500 million. The company also completed or announced investments in BBH Credit Partners, HighBrook Investors, and an incremental investment in Garda Capital Partners during the first quarter.
Margins
Fee-Related Earnings grew 29% year-over-year, driven by positive organic growth, the positive impact of investment performance, and margin expansion at some of the largest affiliates. Management noted positive mix shift toward alternative strategies, leading to an increase in the management fee rate. The company's earnings growth is accelerating, with 2025 Economic EPS growing over 20% and expected to exceed 30% in 2026.
Key Risks
Risks mentioned include volatile market conditions (beta was down in Q1), continued net outflows in equity strategies, and potential noise around specific affiliates (e.g., AQR tax-aware strategies). Management downplayed these risks, emphasizing the breadth of AMG's diversification and the low contribution of any single strategy (tax-aware strategies represent less than 8% of AUM and less than 8% of EBITDA). The wealth channel faces near-term noise from broader industry dynamics, but management is constructive on the long-term secular trend.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-30
Record Q2 results featured 44% EBITDA and 54% EPS growth year-over-year, with AUM at $942 billion and strong net inflows led by alternatives. Guidance calls for continued robust earnings and capital deployment, supported by a strong balance sheet and secular growth trends.
Q1 2026 Q1 2026 2026-05-01
Record Q1 results with Adjusted EBITDA up 39% and economic EPS up 58% year-over-year, driven by strong inflows in alternatives and robust capital allocation. AUM reached $882 billion, with continued momentum expected in key growth areas and disciplined share repurchases.
Q4 2025 Q4 2025 2026-02-12
Record economic EPS and strong organic growth in 2025 were driven by alternative strategies, with $97B in new alternative AUM and $29B in net inflows. Guidance for 2026 points to continued earnings momentum, robust capital deployment, and a focus on alternatives.
Q3 2025 Q3 2025 2025-11-03
Record alternative inflows and strong organic growth drove a 17% year-over-year EBITDA increase and 27% EPS growth, with alternatives now 55% of EBITDA. Strategic investments, affiliate sales, and collaborations like BBH position the firm for accelerated earnings in 2026.
Q2 2025 Q2 2025 2025-07-31
Q2 2025 saw 15% EPS growth and $8B+ net inflows, driven by record alternative strategy inflows and four new partnerships. Alternatives now contribute 55% of EBITDA, with further growth and a step up in 2026 earnings expected as new investments scale.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Information Sources:
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