AFFILIATED MANAGERS GROUP, INC. · Investment Advice

AMG

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The short version

A high-quality, profitable business with growing sales.

Going well

Sales up 30% in the latest quarter vs a year ago
Profitable every year for 10 years
Brings in more cash than it spends

Money moves

No insider buying or selling in the last 30 days
Institutions added 1.8% to their holdings in the quarter ending June 2026 (231 bought, 265 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$390.98+2.0% that day

Company value: $10.1B; Share price times all shares
Price vs profit (P/E): 13.7x; You pay about $14 for each $1 of yearly profit
Price vs sales: 4.5x; Company value is 4.5 times a year of sales
Dividend yield: 0.0%; Yearly dividend as a share of today's price
Cash vs value: 4%; Cash as a share of company value
Debt vs value: 27%; Debt as a share of company value

From AMG's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$640.7M+30% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $2.3B, up 12% from the 12 months before. Over 5 years, sales grew about 0.5% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of AMG. Starting points are the company's recent numbers.

Sales growth+12% a yearRecently: +12% a yearProfit margin38%Last 12 months: 37.7%P/E at the end14xToday: 13.7x. Many steady companies trade at 12x to 25xShare count change-5% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$4.0B

Profit in 5 years$1.5B

Price these guesses point to$1,063.70+172% vs $390.98 todayAbout +22% a year, before dividends

What today's price needs: with a 38% margin and a 14x P/E, sales could shrink about 8.3% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

5/6Strong

PassReturn on equity 15%+Earns a lot on the money owners have in the business.21.8%
MissDebt under half of equityNot relying on borrowed money.0.83x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.34.5%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$967.1M
PassShare count not growingNot diluting owners. Falling means buybacks.-32.7% in 3 years

Revenue: $2.1B; +1.6% vs prior year
5-year growth: +0.5%/yr; revenue, per year
Total debt: $2.7B; 0.83x equity
Free cash flow: $967.1M; 46.6% of revenue

From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. A checklist is a starting point for research, not a verdict.