Affiliated Managers Group, Inc. (MGR) 10-Year Financial Performance & Capital Metrics

MGR • • Banking & Credit

Financial ServicesInvestment BankingInvestment Management & AdvisoryAsset Management Firms

AboutAffiliated Managers Group, Inc. engages in the provision of investment management services. It offers strategies across a range of return-oriented asset classes and product structures. The company was founded by William J. Nutt in December 1993 and is headquartered in West Palm Beach, FL.Show more

Net Interest Income $76M
Total Revenue $2.04B -0.8%
Net Income $512M -24.0%
Return on Equity 10.64% +22.3%
Net Interest Margin 0.86%
Efficiency Ratio 18.45% +6.0%
ROA 5.72% -61.3%
Equity / Assets 52.64% -3.9%
Book Value per Share 128.77 +9.5%
Tangible BV/Share 128.77 +9.5%
Debt/Equity 0.57 +2.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 100.7%
✓Efficient operations: 18.4% efficiency ratio
✓Well capitalized: 52.6% equity/assets
✓Share count reduced 14.5% through buybacks
✓Diversified revenue: 96.3% from non-interest income
✓Trading at only 0.2x book value

✗Weaknesses

✗Weak NIM of 0.9%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-2.05%

5Y-1.84%

3Y-5.42%

TTM-

Profit (Net Income) CAGR

10Y1.66%

5Y100.73%

3Y-3.3%

TTM-2.62%

EPS CAGR

10Y7.36%

5Y117.52%

3Y5.03%

TTM6.59%

ROCE

10Y Avg14.62%

5Y Avg14.42%

3Y Avg16%

Latest8.37%

Peer Comparison

Asset Management Firms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
GEGGLGreat Elm Group, Inc. 7.25% Notes due 2027	654M	24.63	74.64	-8.51%	79.01%	3.88%	0.78
MGRAffiliated Managers Group, Inc.		21.54	1.43	-0.82%	25.07%	11.7%	0.57
MGRBAffiliated Managers Group, Inc.		17.61	1.16	-0.82%	25.07%	11.7%	0.56
MGRDAffiliated Managers Group, Inc.		15.80	1.04	-0.82%	25.07%	11.7%	0.56

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	0	0	0	0	0	0	-105.2M	-110.3M	0	75.7M
NII Growth %	-	-	-	-	-	-	-	-0.05%	1%	-
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	0	0	0	0	0	0	6.2M	4.1M	0	75.7M
Interest Expense	88.9M	89.4M	85.3M	80.6M	0	0	111.4M	114.4M	0	0
Loan Loss Provision	938.8M	843M	893.7M	906.6M	943M	883.7M	935.7M	957.1M	907.5M	915.3M
Non-Interest Income+	2.49B	2.19B	2.31B	2.39B	2.24B	2.03B	2.41B	2.33B	2.06B	1.97B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	2.49B	2.19B	2.31B	2.39B	2.24B	2.03B	2.41B	2.33B	2.06B	2.04B
Revenue Growth %	-0.01%	-0.12%	0.05%	0.03%	-0.06%	-0.09%	0.19%	-0.03%	-0.12%	-0.01%
Non-Interest Expense	443.8M	398.1M	373.1M	624.4M	376.8M	321.4M	347.1M	385.5M	358.2M	376.5M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	795.3M	705.3M	952.9M	973.5M	919.8M	822.4M	1.02B	872.6M	792.1M	749.1M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.02%	-0.11%	0.35%	0.02%	-0.06%	-0.11%	0.24%	-0.14%	-0.09%	-0.05%
Pretax Income+	1.09B	765M	847.4M	914.5M	308M	508.4M	1.14B	1.75B	1.09B	923.2M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	263.4M	635.3M	740.7M	777.7M	2.9M	81.4M	251M	358.3M	185.3M	182.6M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	509.5M	974.6M	1.07B	713.6M	15.7M	202.2M	565.7M	1.15B	672.9M	511.6M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.17%	0.91%	0.09%	-0.33%	-0.98%	11.88%	1.8%	1.03%	-0.41%	-0.24%
Net Income (Continuing)	827.2M	739M	1.01B	532.3M	305.1M	427M	890.1M	1.39B	906.1M	740.6M
EPS (Diluted)+	8.91	8.57	12.03	4.53	0.31	4.33	13.04	25.36	15.95	15.11
EPS Growth %	0.2%	-0.04%	0.4%	-0.62%	-0.93%	12.95%	2.01%	0.95%	-0.37%	-0.05%
EPS (Basic)	9.38	8.72	12.31	4.54	0.31	4.35	13.63	29.76	19.17	16.45
Diluted Shares Outstanding	57.2M	57M	58.6M	53.8M	50.6M	46.7M	44.8M	49M	42.2M	36.1M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	563.8M	430.8M	439.5M	565.5M	539.6M	1.04B	908.5M	429.2M	813.6M	950M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	2.29B	3.64B	3.55B	3.11B	2.47B	2.41B	2.59B	3.28B	461M	32.3M
Investments Growth %	0.08%	0.59%	-0.02%	-0.12%	-0.21%	-0.02%	0.08%	0.27%	-0.86%	-0.93%
Long-Term Investments	2.11B	3.52B	3.47B	2.99B	2.41B	2.33B	2.51B	2.56B	0	0
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	2.67B	2.63B	2.66B	2.63B	2.65B	2.66B	2.69B	2.65B	0	0
Intangible Assets	4.35B	1.5B	1.45B	1.31B	1.18B	1.05B	1.97B	1.88B	0	0
PP&E (Net)	114.1M	110.1M	111M	104.3M	118.4M	79.6M	73.9M	68.5M	67.3M	57.6M
Other Assets	-3.22B	-8.71B	-8.66B	-8.21B	224.2M	217.8M	221.2M	-8.63B	-4.4B	-4.34B
Total Current Assets	1.18B	960M	963.7M	1.17B	1.07B	1.55B	1.42B	1.47B	0	0
Total Non-Current Assets	6.59B	7.79B	7.74B	7.05B	6.58B	6.34B	7.46B	7.41B	0	0
Total Assets+	7.77B	64.3M	51.4M	51.5M	7.65B	7.89B	8.88B	38.5M	9.06B	8.83B
Asset Growth %	0.01%	-0.99%	-0.2%	0%	147.61%	0.03%	0.13%	-1%	234.31%	-0.03%
Return on Assets (ROA)	0.07%	0.25%	18.45%	13.87%	0%	0.03%	0.07%	0.26%	0.15%	0.06%
Accounts Payable	0	0	0	0	0	0	0	-503.2M	0	0
Total Debt+	1.88B	38.3M	45.7M	77.8M	1.79B	2.31B	2.49B	253M	2.75B	2.65B
Net Debt	1.32B	-392.5M	-393.8M	-487.7M	1.25B	1.27B	1.58B	-176.2M	1.94B	1.7B
Long-Term Debt	0	0	0	0	1.79B	2.31B	2.49B	2.54B	2.54B	2.62B
Short-Term Debt	0	0	0	0	0	0	0	0	39.1M	0
Other Liabilities	2.83B	3.12B	2.75B	2.73B	990.4M	1.19B	1.41B	1.1B	-3.17B	-3.17B
Total Current Liabilities	554.3M	660.8M	467.4M	511.6M	453.5M	402.3M	595.9M	464.7M	0	0
Total Non-Current Liabilities	2.83B	3.12B	2.75B	2.73B	2.78B	3.5B	3.9B	3.64B	0	0
Total Liabilities	3.39B	600K	600K	600K	3.24B	3.9B	4.49B	600K	4.1B	4.18B
Total Equity+	4.38B	10.35B	10.1B	9.36B	4.42B	3.99B	4.38B	10.5B	4.96B	4.65B
Equity Growth %	0.02%	1.36%	-0.02%	-0.07%	-0.53%	-0.1%	0.1%	1.4%	-0.53%	-0.06%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.12%	0.13%	0.1%	0.07%	0%	0.05%	0.14%	0.15%	0.09%	0.11%
Book Value per Share	76.60	181.51	172.30	174.05	87.27	85.41	97.87	214.36	117.62	128.77
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	600K	0	0	0	600K	600K	600K	0	600K	600K
Additional Paid-in Capital	694.9M	1.07B	808.6M	0	707.2M	728.9M	651.6M	695.5M	741.4M	733.1M
Retained Earnings	2.58B	3.62B	3.82B	3.46B	3.82B	4.01B	4.57B	3.23B	6.39B	6.9B
Accumulated OCI	273.6M	5.1B	5.39B	4.97B	-108.8M	-98.3M	-87.9M	4.64B	-167.6M	-163.6M
Treasury Stock	-421.9M	-386M	-663.7M	0	-1.48B	-1.86B	-2.35B	-2.98B	-3.38B	-4.12B
Preferred Stock	0	3.05B	3.7B	3.88B	0	0	0	5.72B	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.21B	1.03B	1.17B	1.28B	954.9M	1.01B	1.31B	1.05B	865.2M	947.1M
Operating CF Growth %	-0.16%	-0.15%	0.14%	0.09%	-0.26%	0.06%	0.3%	-0.2%	-0.18%	0.09%
Net Income	509.5M	472.8M	689.5M	243.6M	15.7M	202.2M	565.7M	1.15B	672.9M	511.6M
Depreciation & Amortization	-134.2M	129.7M	106.7M	136.8M	165.8M	159.6M	52.3M	67.4M	61.3M	42.4M
Deferred Taxes	101.2M	59.3M	-123.6M	51.9M	0	0	0	0	0	31.4M
Other Non-Cash Items	121.9M	608.6M	654.2M	1.16B	896.7M	454.1M	572.8M	-401M	359.6M	306.4M
Working Capital Changes	24.4M	21.1M	-8.9M	-4.1M	-123.3M	74.2M	120M	128.6M	-228.6M	-56.8M
Cash from Investing+	-325M	-1.34B	9.6M	-159.4M	-50.2M	-53.7M	-635.3M	-109.9M	273.6M	364.1M
Purchase of Investments	-315.3M	-1.46B	-101.9M	-238.9M	-247.7M	0	-745.7M	0	-1.07B	-586.9M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	0	1000K	0	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	-5.9M
Other Investing	-286.3M	-1.31B	32.3M	500K	0	-45.2M	0	-98.5M	0	0
Cash from Financing+	-857.7M	200.9M	-1.19B	-983.1M	-934.7M	-455.4M	-798.3M	-1.4B	-758.3M	-1.18B
Dividends Paid	0	0	-44.9M	-64.4M	-65.3M	-16.8M	-1.7M	-1.6M	-1.5M	-1.4M
Share Repurchases	-413.7M	-33.4M	-393.2M	-505.8M	-356.1M	-650.2M	-595.3M	-775.3M	-341.9M	-709.8M
Stock Issued	57.8M	465.8M	41.9M	9.7M	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K	0	1000K
Other Financing	-499.1M	-456.5M	-533.5M	-392M	-474M	-313.2M	-368.3M	-565.2M	-414.9M	-562.3M
Net Change in Cash+	13.2M	-133M	8.7M	126M	-25.9M	500.1M	-131.2M	-479.3M	384.4M	136.4M
Exchange Rate Effect	-1000K	-1000K	1000K	-1000K	1000K	1000K	-1000K	-1000K	1000K	1000K
Cash at Beginning	550.6M	563.8M	430.8M	439.5M	565.5M	539.6M	1.04B	908.5M	429.2M	813.6M
Cash at End	563.8M	430.8M	439.5M	565.5M	539.6M	1.04B	908.5M	429.2M	813.6M	950M
Interest Paid	0	0	0	0	0	88.3M	0	109.4M	0	0
Income Taxes Paid	0	0	0	0	0	0	0	0	0	0
Free Cash Flow+	1.17B	1.01B	1.16B	1.26B	945.3M	1B	1.3B	1.04B	852.8M	943.7M
FCF Growth %	-0.17%	-0.14%	0.14%	0.09%	-0.25%	0.06%	0.3%	-0.2%	-0.18%	0.11%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	11.75%	13.23%	10.44%	7.33%	0.23%	4.81%	13.51%	15.39%	8.7%	10.64%
Return on Assets (ROA)	6.59%	24.88%	1844.6%	1386.98%	0.41%	2.6%	6.75%	25.71%	14.79%	5.72%
Net Interest Margin	0%	0%	0%	0%	0%	0%	-1.19%	-286.49%	0%	0.86%
Efficiency Ratio	17.8%	18.14%	16.19%	26.18%	16.82%	15.85%	14.39%	16.55%	17.41%	18.45%
Equity / Assets	56.4%	16090.2%	19643.39%	18182.33%	57.7%	50.56%	49.4%	27281.82%	54.79%	52.64%
Book Value / Share	76.6	181.51	172.3	174.05	87.27	85.41	97.87	214.36	117.62	128.77
NII Growth	-	-	-	-	-	-	-	-4.85%	100%	-
Dividend Payout	-	-	4.21%	9.02%	-	8.31%	-	0.14%	-	0.27%

Revenue by Geography

	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	1.61B	1.64B	1.52B	1.84B	1.85B	1.52B	1.49B
UNITED STATES Growth	-	1.89%	-7.20%	20.65%	0.76%	-17.99%	-2.24%
OTHER	137.9M	82.2M	41.2M	45.1M	42.2M	40.2M	55.2M
OTHER Growth	-	-40.39%	-49.88%	9.47%	-6.43%	-4.74%	37.31%

Frequently Asked Questions

Valuation & Price

Affiliated Managers Group, Inc. (MGR) has a price-to-earnings (P/E) ratio of 1.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Affiliated Managers Group, Inc. (MGR) saw revenue decline by 0.8% over the past year.

Yes, Affiliated Managers Group, Inc. (MGR) is profitable, generating $531.2M in net income for fiscal year 2024 (25.1% net margin).

Dividend & Returns

Yes, Affiliated Managers Group, Inc. (MGR) pays a dividend with a yield of 0.18%. This makes it attractive for income-focused investors.

Affiliated Managers Group, Inc. (MGR) has a return on equity (ROE) of 10.6%. This is reasonable for most industries.

Industry Metrics

Affiliated Managers Group, Inc. (MGR) has a net interest margin (NIM) of 0.9%. NIM has been under pressure due to interest rate environment.

Affiliated Managers Group, Inc. (MGR) has an efficiency ratio of 18.4%. This is excellent, indicating strong cost control.

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