AMG Financials Affiliated Managers Group, Inc.

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 9, 2026, 10:14 UTC Overview →

Growth & profitability

Revenue has grown 0.5% per year over the past 5 years.
Net income has grown faster than revenue (28.8% vs 0.5% per year).
Free cash flow has declined 0.7% per year over the past 5 years.

Financial health

Total debt ($2.7B) exceeds cash ($586M); net debt is $2.1B.
Total debt has grown in line with revenue (3.1% vs 0.5% per year).

Shareholder returns

Dividends have been paid for 9 consecutive years, consuming 0.1% of earnings and 0.1% of free cash flow.
The dividend has declined 43.1% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$2.1B	$717M	0.0%	0.0%	22.1%	7.8%	$967M	$2.7B	$586M
2024	$2.0B	$512M	0.0%	0.0%	15.3%	5.8%	$929M	$2.6B	$950M
2023	$2.1B	$673M	0.0%	0.0%	18.8%	7.4%	$862M	$2.5B	$814M
2022	$2.3B	$1.1B	0.0%	0.0%	35.5%	12.9%	$1.0B	$2.5B	$429M
2021	$2.4B	$566M	0.0%	0.0%	20.3%	6.4%	$1.3B	$2.5B	$909M
2020	$2.0B	$202M	0.0%	0.0%	7.3%	2.6%	$1.0B	$2.3B	$1.0B
2019	$2.2B	$16M	0.0%	0.0%	0.5%	0.2%	$920M	$1.8B	$540M
2018	$2.4B	$244M	0.0%	0.0%	7.0%	3.0%	$1.1B	$1.8B	$566M
2017	$2.3B	$690M	0.0%	48.1%	18.0%	7.9%	$1.2B	$809M	$440M
2016	$2.2B	$473M	0.0%	47.1%	13.1%	5.4%	$1.0B	$869M	$431M
2015	—	$510M	—	—	18.0%	6.6%	$1.2B	$643M	$564M
2014	—	$434M	—	—	16.5%	5.6%	$1.4B	$855M	$551M
2013	—	$361M	—	—	16.9%	5.7%	—	$525M	$470M
2012	—	$174M	—	—	8.3%	2.8%	—	$325M	$430M
2011	—	$165M	—	—	8.8%	3.2%	—	—	$450M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$641M	$186M	0.0%	0.0%	6.1%	2.0%	$239M	$3.0B	$411M
Mar '26	$545M	$110M	0.0%	0.0%	3.6%	1.2%	$296M	$2.9B	$376M
Dec '25	$557M	$348M	0.0%	0.0%	10.7%	3.8%	$255M	$2.7B	$586M
Sep '25	$528M	$212M	0.0%	0.0%	6.4%	2.4%	$276M	$2.4B	$476M
Jun '25	$493M	$84M	0.0%	0.0%	2.6%	1.0%	$229M	$2.6B	$361M
Mar '25	$497M	$72M	0.0%	0.0%	2.3%	0.8%	$207M	$2.6B	$817M
Dec '24	$524M	$162M	0.0%	0.0%	4.8%	1.8%	$211M	$2.6B	$950M
Sep '24	$516M	$124M	0.0%	0.0%	3.7%	1.4%	$265M	$2.6B	$1.0B
Jun '24	$500M	$76M	0.0%	0.0%	2.3%	0.9%	$245M	$2.5B	$866M
Mar '24	$500M	$150M	0.0%	0.0%	4.2%	1.7%	$208M	$2.5B	$793M
Dec '23	$503M	$196M	0.0%	0.0%	5.5%	2.2%	$249M	$2.5B	$814M
Sep '23	$525M	$217M	0.0%	0.0%	6.2%	2.4%	$291M	$2.5B	$999M
Jun '23	$513M	$125M	0.0%	0.0%	3.7%	1.4%	$89M	$2.5B	$786M
Mar '23	$517M	$135M	0.0%	0.0%	4.1%	1.5%	$233M	$2.5B	$833M
Dec '22	$540M	$778M	0.0%	0.0%	24.1%	8.8%	$255M	$2.5B	$429M
Sep '22	$579M	$113M	0.0%	0.0%	4.1%	1.3%	$288M	$2.5B	$623M
Jun '22	$604M	$109M	0.0%	0.0%	4.0%	1.3%	$359M	$2.5B	$607M
Mar '22	$607M	$146M	0.0%	0.0%	5.5%	1.7%	$141M	$2.6B	$501M
Dec '21	$692M	$178M	0.0%	0.0%	6.4%	2.0%	$358M	$2.5B	$909M
Sep '21	$575M	$128M	0.0%	0.0%	4.9%	1.6%	$344M	$2.5B	$1.1B

Valuation over time

How the market has priced AMG against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 3.2× (Mar '23) to 13.4× (Nov '26).
The price-to-sales ratio has risen from 1.6× (Mar '23) to 4.6× (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Frequently asked questions

Is AMG growing its revenue and profit?

Over the past 5 years, Affiliated Managers Group, Inc.'s revenue has grown 0.5% per year, and net income grown 28.8% per year. These are computed facts, not advice.

How much debt does AMG have?

As of FY2025, Affiliated Managers Group, Inc. reported $2.7B of total debt against $586M of cash.

What is AMG's profit margin?

In FY2025, gross margin was —, operating margin —, and net margin 34.5%.

What is AMG's P/E ratio?

Affiliated Managers Group, Inc.'s P/E (TTM) is 11.19 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the AMG stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 13.4× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.