Friday 6 November 2026 Export AMG’s income statement to Excel — free account

Affiliated Managers Group, Inc.

Affiliated Managers Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.1 billion, up 1.64% from fiscal 2024.

Revenue: +29.9%
EPS: +138.2%
Free cash flow: +4.18%
Total debt: +14.6%

Quarter to June 2026, against a year earlier

356.89 6.35 +1.81%

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Market cap: $9.1B
P/E: 11.3×
Fwd P/E: 13.7×
Dividend yield: 0.01%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Affiliated Managers Group, Inc. (AMG) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by regions, and margins
United States	1,487	71.68%
United Kingdom	527	25.40%
Other	61	2.92%
Gross margin		100.00%
Operating margin		19.55%
Pre-tax margin		57.19%

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
United States	1,487 71.68%	1,485 72.77%	1,519 73.83%	1,853 79.52%	1,839 76.22%	1,524 75.17%	1,642 73.33%	1,612 67.76%	1,571 68.17%	1,478 67.32%
United Kingdom	527 25.40%	501 24.52%	498 24.22%	435 18.66%	529 21.91%	462 22.80%	515 23.00%	629 26.44%	587 25.48%	566 25.81%
Other	61 2.92%	55 2.70%	40 1.95%	42 1.81%	45 1.87%	41 2.03%	82 3.67%	138 5.80%	146 6.35%	151 6.87%
Revenue	2,074	2,041	2,058	2,330	2,412	2,028	2,240	2,378	2,305	2,195

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
AUM	Q2 FY2026	$942.4B	$771.0B	+22.23%
Average AUM	Q2 FY2026	$920.9B	$736.6B	+25.02%
Client cash inflows and commitments	Q2 FY2026	$62.6B	$40.3B	+55.33%
Client cash outflows	Q2 FY2026	−$49.7B	−$32.2B	−54.35%
Equities AUM	Q2 FY2026	$321.9B	$321.0B	+0.28%
Equities client cash inflows and commitments	Q2 FY2026	$10.3B	$10.7B	−3.74%
Equities client cash outflows	Q2 FY2026	−$24.8B	−$21.2B	−16.98%
Equities net client cash flows	Q1 FY2026	−$9.1B	—	—
Liquid alternatives AUM	Q2 FY2026	$293.2B	$181.7B	+61.36%
Liquid alternatives client cash inflows and commitments	Q2 FY2026	$30.8B	$16.8B	+83.33%
Liquid alternatives client cash outflows	Q2 FY2026	−$9.7B	−$5.3B	−83.02%
Liquid alternatives net client cash flows	Q2 FY2026	$21.1B	$11.5B	+83.48%
Multi-asset & fixed income AUM	Q2 FY2026	$174.0B	$118.9B	+46.34%
Multi-asset & fixed income client cash inflows and commitments	Q2 FY2026	$13.5B	$5.0B	+170.00%
Multi-asset & fixed income client cash outflows	Q4 FY2025	−$5.2B	−$5.0B	−4.00%
Net client cash flows	Q2 FY2026	$12.9B	$8.1B	+59.26%
Private markets AUM	Q2 FY2026	$153.3B	$149.4B	+2.61%
Private markets client cash inflows and commitments	Q2 FY2026	$8.0B	$7.8B	+2.56%
Private markets client cash outflows	Q2 FY2026	−$200.0M	$0.00	—
Private markets net client cash flows	Q2 FY2026	$7.8B	$7.8B	0.00%

	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
AUM	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average AUM	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Client cash inflows and commitments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Client cash outflows	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Equities AUM	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Equities client cash inflows and commitments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Equities client cash outflows	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Equities net client cash flows	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Liquid alternatives AUM	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Liquid alternatives client cash inflows and commitments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Liquid alternatives client cash outflows	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Liquid alternatives net client cash flows	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Multi-asset & fixed income AUM	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Multi-asset & fixed income client cash inflows and commitments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Multi-asset & fixed income client cash outflows	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Net client cash flows	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Private markets AUM	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Private markets client cash inflows and commitments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Private markets client cash outflows	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Private markets net client cash flows	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.