Equity of roughly $5.1B to $6.5B against assets near $190B implies an equity-to-assets ratio of about 3%, a thin capital cushion that appears to be offset by client-linked liquidity rather than traditional bank leverage.
Ameriprise Financial, Inc. (AMP) balance sheet — 22-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 |
|---|
| Cash & Short Term Investments | 37.97B | 10.1B | 60.67B | 59.13B | 47.91B | 39.3B | 43.13B | 36.96B | 34.16B | 33.55B | 33.2B | 31.53B | 33.05B | 33.36B | 34.42B | 37.76B | 45.81B | 40.25B | 6.23B | 3.84B | 2.76B | 2.47B | 1.08B |
| Cash & Due from Banks | 9.27B | 10.1B | 8.52B | 7.56B | 7.1B | 7.25B | 6.84B | 3.83B | 3.1B | 2.62B | 2.49B | 2.86B | 3.03B | 3.05B | 2.95B | 3.25B | 3.31B | 3.28B | 6.23B | 3.84B | 2.76B | 2.47B | 1.08B |
| Short Term Investments | 0 | 0 | 52.15B | 51.56B | 40.81B | 32.05B | 36.28B | 33.13B | 31.06B | 30.93B | 30.72B | 28.67B | 30.03B | 30.31B | 31.47B | 34.51B | 42.5B | 36.97B | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 60.57B | 0 | 5.67B | 5.08B | 5.15B | 4.97B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments Growth % | 2696.95% | -100% | 11.53% | -1.28% | 3.64% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Long-Term Investments | 186.02B | 0 | -46.48B | -46.48B | -35.66B | -27.08B | -36.28B | -33.13B | -31.06B | -30.93B | -30.72B | -28.67B | -30.03B | -30.31B | -31.47B | -34.51B | -42.5B | -36.97B | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivables | 15.68B | 0 | 14.47B | 15.08B | 15.6B | 16.2B | 7.82B | 7.2B | 6.17B | 5.76B | 5.3B | 5.17B | 4.89B | 4.54B | 4.22B | 4.38B | 4.91B | 0 | 3.89B | 3.44B | 0 | 2.17B | 0 |
| Goodwill & Intangibles | 0 | 2.63B | 2.57B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 2.63B | 1.4B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 1.17B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 102.4B | 163.23B | 150.14B | 147.44B | 130.99B | 147.47B | 151.2B | 140.79B | 127.93B | 139.07B | 132.03B | 137.21B | 140.75B | 136.91B | 127.46B | 124.62B | 123B | 106.01B | 85.56B | 101.95B | 98.56B | 88.63B | 89.98B |
| Total Current Assets | 28.38B | 25.05B | 75.18B | 74.23B | 63.52B | 55.52B | 50.96B | 44.17B | 40.34B | 39.33B | 38.52B | 36.81B | 38.08B | 37.97B | 38.74B | 42.2B | 50.72B | 44.74B | 10.12B | 7.28B | 5.92B | 4.65B | 3.28B |
| Total Non-Current Assets | 162.97B | 165.85B | 106.22B | 100.96B | 95.33B | 120.39B | 114.92B | 107.66B | 96.88B | 108.15B | 101.31B | 108.53B | 110.73B | 106.61B | 95.99B | 90.11B | 80.5B | 69.03B | 85.56B | 101.95B | 98.56B | 88.63B | 89.98B |
| Total Assets | 191.35B | 190.9B | 181.4B | 175.19B | 158.85B | 175.91B | 165.88B | 151.83B | 137.22B | 147.47B | 139.82B | 145.26B | 148.81B | 144.58B | 134.73B | 133.99B | 131.19B | 113.77B | 95.68B | 109.23B | 104.17B | 93.12B | 93.11B |
| Asset Growth % | 15.93% | 5.24% | 3.55% | 10.29% | -9.7% | 6.04% | 9.26% | 10.65% | -6.95% | 5.47% | -3.74% | -2.39% | 2.93% | 7.31% | 0.55% | 2.13% | 15.31% | 18.92% | -12.41% | 4.86% | 11.87% | 0.01% | - |
| Return on Assets (ROA) | 2.18% | 1.91% | 1.91% | 1.53% | 1.88% | 1.62% | 0.97% | 1.31% | 1.47% | 1.03% | 0.92% | 1.06% | 1.1% | 0.96% | 0.77% | 0.81% | 0.9% | 0.69% | -0.04% | 0.76% | 0.64% | 0.62% | 0.93% |
| Accounts Payable | 3.09B | 0 | 2.7B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 5.99B | 5.86B | 5.47B | 5.75B | 5.38B | 5.2B | 4.94B | 4.93B | 4.81B | 5.3B | 5.44B | 10.42B | 10.13B | 8.96B | 7.88B | 8.07B | 8.25B | 2.25B | 2.03B | 2.02B | 2.24B | 1.9B | 403M |
| Net Debt | -3.28B | -4.24B | -3.05B | -1.81B | -1.71B | -2.05B | -1.9B | 1.1B | 1.71B | 2.68B | 2.95B | 7.56B | 7.1B | 5.91B | 4.93B | 4.82B | 4.94B | -1.03B | -4.2B | -1.82B | -516M | -572M | -675M |
| Long-Term Debt | 5.79B | 5.66B | 4.76B | 4.98B | 3.85B | 4.96B | 4.7B | 4.67B | 4.58B | 5.06B | 5.19B | 10.16B | 9.93B | 8.46B | 7.38B | 7.57B | 7.85B | 2.25B | 2.03B | 2.02B | 2.24B | 1.85B | 403M |
| Short-Term Debt | 200M | 200M | 701M | 751M | 1.5B | 200M | 200M | 201M | 201M | 200M | 200M | 200M | 200M | 500M | 501M | 504M | 397M | 0 | 0 | 0 | 0 | 50M | 0 |
| Other Liabilities | 65.56B | -5.66B | 170.7B | 164.71B | 149.66B | 144.55B | 137.43B | 126.74B | 115.27B | 125.89B | 118.06B | 117.9B | 121.71B | 119.33B | 110.61B | 94.84B | 102.9B | 93.09B | 79.24B | 93.2B | 87.61B | 76.88B | 79.17B |
| Total Current Liabilities | 114.88B | 3.18B | 701M | 751M | 1.5B | 200M | 200M | 201M | 201M | 200M | 200M | 200M | 200M | 500M | 501M | 10.35B | 9.18B | 8.55B | 8.23B | 6.21B | 6.71B | 6.86B | 6.99B |
| Total Non-Current Liabilities | 71.36B | 0 | 175.47B | 169.71B | 153.55B | 169.77B | 159.82B | 145.9B | 131.43B | 141.28B | 133.33B | 136.76B | 139.31B | 134.84B | 124.52B | 112.26B | 110.75B | 95.34B | 81.27B | 95.21B | 89.85B | 78.73B | 79.57B |
| Total Liabilities | 186.24B | 184.35B | 176.18B | 170.46B | 155.05B | 169.97B | 160.02B | 146.1B | 131.63B | 141.49B | 133.53B | 136.96B | 139.5B | 135.34B | 125.02B | 122.96B | 119.88B | 103.9B | 89.5B | 101.42B | 96.25B | 85.43B | 86.41B |
| Total Equity | 5.11B | 6.55B | 5.23B | 4.73B | 3.8B | 5.94B | 5.87B | 5.73B | 5.59B | 6B | 6.29B | 8.38B | 9.3B | 9.23B | 9.71B | 11.02B | 11.31B | 9.88B | 6.18B | 7.81B | 7.92B | 7.69B | 6.7B |
| Equity Growth % | 23.59% | 25.27% | 10.55% | 24.35% | -35.99% | 1.26% | 2.41% | 2.52% | -6.79% | -4.72% | -24.91% | -9.95% | 0.79% | -4.94% | -11.89% | -2.54% | 14.52% | 59.86% | -20.9% | -1.45% | 3.1% | 14.7% | - |
| Equity / Assets (Capital Ratio) | 2.67% | 3.43% | 2.88% | 2.7% | 2.39% | 3.38% | 3.54% | 3.77% | 4.07% | 4.07% | 4.5% | 5.77% | 6.25% | 6.39% | 7.21% | 8.23% | 8.62% | 8.68% | 6.46% | 7.15% | 7.61% | 8.25% | 7.2% |
| Return on Equity (ROE) | 68.69% | 60.51% | 68.31% | 59.92% | 64.63% | 46.75% | 26.46% | 33.45% | 36.23% | 24.09% | 17.91% | 17.67% | 17.47% | 14.08% | 9.93% | 9.64% | 10.36% | 8.99% | -0.54% | 10.35% | 8.08% | 7.98% | 12.91% |
| Book Value per Share | 55.91 | 68.01 | 50.81 | 43.87 | 33.45 | 49.51 | 46.67 | 42.13 | 37.83 | 38.26 | 37.41 | 45.49 | 47.72 | 44.58 | 43.59 | 44.75 | 43.14 | 40.41 | 27.29 | 32.56 | 31.89 | 31.10 | 27.18 |
| Tangible BV per Share | 55.91 | 40.75 | 25.81 | 43.87 | 33.45 | 49.51 | 46.67 | 42.13 | 37.83 | 38.26 | 37.41 | 45.49 | 47.72 | 44.58 | 43.59 | 44.75 | 43.14 | 40.41 | 27.29 | 32.56 | 31.89 | 31.10 | 27.18 |
| Common Stock | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 3M | 2M | 0 |
| Additional Paid-in Capital | 10.59B | 10.38B | 10.14B | 9.82B | 9.52B | 9.22B | 8.82B | 8.46B | 8.26B | 8.09B | 7.76B | 7.61B | 7.34B | 6.93B | 6.5B | 6.24B | 6.03B | 5.75B | 4.69B | 4.63B | 4.35B | 4.09B | 2.91B |
| Retained Earnings | 30.35B | 27.66B | 24.71B | 21.91B | 19.92B | 17.52B | 15.29B | 14.28B | 12.91B | 11.33B | 10.35B | 9.66B | 8.7B | 7.63B | 6.72B | 7.47B | 6.77B | 5.28B | 4.59B | 4.81B | 4.27B | 3.75B | 3.42B |
| Accumulated OCI | -2.64B | -892M | -1.91B | -1.77B | -2.55B | 259M | 629M | 262M | -291M | 229M | 200M | 253M | 662M | 595M | 0 | 638M | 565M | 263M | -1.09B | -167M | -209M | -151M | 380M |
| Treasury Stock | -33.19B | -30.6B | -27.72B | -25.24B | -23.09B | -21.07B | -18.88B | -17.28B | -15.29B | -13.65B | -12.03B | -10.34B | -8.59B | -6.96B | -5.33B | -4.03B | -2.62B | -2.02B | -2.01B | -1.47B | -490M | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying AMP stock.
As of 2025, Ameriprise Financial, Inc. (AMP) had total assets of $190.90B including $25.05B in current assets.
Ameriprise Financial, Inc. (AMP) carries total debt of $5.86B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Ameriprise Financial, Inc. (AMP) has total shareholders' equity (book value) of $6.55B ($68.01 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Ameriprise Financial, Inc. (AMP) reported a current ratio of 7.87x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Cash sweep regulatory pressure
Metrics are mathematically derived from official filings.
Total Assets Expanding Through Client Cash Growth
Based on AMP's reported figures, total assets rose from roughly $179.1B in 2025Q1 to $197.9B in 2026Q2 before easing to $191.3B in 2026Q3, a trajectory driven largely by client cash and advisory-linked balances rather than traditional lending growth. Investors should monitor whether this expansion persists as market conditions shift.
The balance sheet has grown primarily through client-related balances, with investment securities holdings of roughly $5.7B to $6.3B remaining modest relative to total assets of nearly $190B. This composition suggests the asset base reflects custodial and sweep balances rather than an independently originated credit book. The recent pullback in the latest quarter may indicate sensitivity of these balances to client flows and market levels, warranting further investigation of the drivers behind the decline.
Deposit Franchise Anchored by Cash Sweep
As reported in financial statements, AMP's cash and bank balances fluctuated between roughly $7.9B and $10.7B over the ten quarters, consistent with a deposit base that is primarily client cash swept through its banking affiliates. Its stability appears tied to advisory relationships rather than wholesale funding.
The deposit franchise appears to be built on client cash balances routed through the cash sweep program, which carries a thin net interest margin of roughly 0.4% to 0.5%. This implies that the franchise generates economics mainly through the spread between sweep rates paid to clients and yields earned, a relatively low-margin arrangement. The quality of this funding may depend on continued client engagement, and investors should monitor any shift in deposit balances or sweep pricing.
Equity Base Supports Buybacks Amid Thin Margin
Based on AMP's reported figures, shareholders' equity ranged from roughly $5.1B to $6.5B against total assets near $190B, implying an equity-to-assets ratio of about 3%, with return on equity moving between 9.5% and 19.6% across the period.
The thin equity-to-assets ratio reflects the balance sheet structure of an asset manager holding large client-related balances, so it should not be read as conventional bank capital adequacy. The cushion available for capital deployment appears adequate given recurring buyback activity, though the modest equity base means ROE is sensitive to swings in reported earnings. Regulatory capital ratios are not provided in the supplied data, so further verification is warranted before drawing firm conclusions on buffer strength.
Liquidity Anchored by Client Cash Balances
As reported in financial statements, AMP's investment securities portfolio stood near $5.7B to $6.3B against roughly $8B to $10B of cash and bank balances, suggesting liquidity is concentrated in client-linked cash rather than a large liquid securities buffer.
The liquidity profile appears driven by the large pool of client cash, which provides a readily available funding base but also introduces dependence on client behavior and sweep economics. The relatively small securities portfolio relative to total assets suggests limited reliance on wholesale funding markets, though the data does not disclose contingent funding arrangements. Investors should monitor how quickly sweep balances could migrate if regulatory pressure alters client cash economics.
Cash Sweep Economics Under Regulatory Threat
Based on reported figures, AMP's earnings quality rests partly on cash sweep economics, and regulatory pressure to raise client cash rates could compress a high-margin revenue stream already running at a net interest margin near 0.4%.
The most non-obvious risk is that the thin reported net interest margin may understate how much of the franchise's profit depends on the sweep spread, since a mandated increase in client rates would fall largely on net interest income. Because the margin is already compressed, even modest repricing could meaningfully affect reported earnings and the funding base supporting buybacks. This remains an analytical inference from the supplied data rather than a confirmed outcome, and the rate-sensitivity assumptions are not disclosed in the data provided.