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

Ameriprise Financial, Inc.

AMP Financial Asset Management

Ameriprise Financial, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $18.5 billion, up 7.04% from fiscal 2024.

Revenue
+6.80%
EPS
+31.7%
Free cash flow
−33.8%
Total debt
+1.90%

Quarter to September 2026, against a year earlier

504.55 4.77 −0.94%
Market cap
$44.2B
P/E
11.3×
Fwd P/E
10.8×
Dividend yield
1.30%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Valuation Filings

Ameriprise Financial, Inc. (AMP) valuation and DCF model

What the price implies · reverse DCF

At $504.55 the price implies 24.0% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 9.2% a year over the last ten years, 8.9% over the last five. The price asks for about three times its ten-year rate. Return on equity averaged 44.9% over ten years; the price implies 60.5% for good.

In December 2017 the price assumed 19.3% a year; Ameriprise Financial, Inc. went on to grow the dividend a share 26.2% a year to FY2025.

Price implies
24.0%
Last 5 years, reported
8.9%
Last 10 years, reported
9.2%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
24.0% a year for ten years
$504.55
today’s price
Its base case
9.2% a year for five years, then 5.5%
$147.03
70.9% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Ameriprise Financial, Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 24.0% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against Ameriprise Financial, Inc.’s own cost of capital: risk-free 4.3% + beta 1.12 × equity premium 4.5% = 9.3% cost of equity; after-tax cost of debt 6.7%; weighted, 9.0%.

Use 9.0%
Base case value per share $147.03 ten years discounted, and what follows
Current price $504.55 market price per share
Below today’s price 70.9% downside at the base case’s assumptions

How we got there$61.10 10 years of dividends+$85.94 terminal value=$147.03 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Asset Management).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 11.32× 13.47× 13.05× 13% below 13.38× 15% below
P/FCF 6.28× 7.51× 8.96× 30% below 7.79× 19% below
P/B 9.01× 8.82× 6.51× 38% above 0.91× 891% above
EV/EBITDA — 7.39× 7.29× — 3.38× —
EV/Sales — 2.49× 2.16× — 3.90× —
P/E P/FCF P/B EV/EBITDA EV/Sales
8.16×11.15×14.14×17.13×10Y avg 13.05×2017201820192020202120222023202420252026

AMP trades at 11.32× P/E, against a 10-year average of 13.05× (range 7.25×–17.74×). That is cheaper than 67% of the last 9 year-end readings; re-rating to the average implies $581.86 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.