The firm's capital structure shows shifting liquidity, with the current ratio compressing from 387.57 in 2024Q3 to 0.70 in 2026Q1 as cash positions declined from $63.1 billion to $8.3 billion.
| 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 |
|---|
| Total Current Assets | 23.48B | 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 |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 160.81B | 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 |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| 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 | 2.61B | 0 | 1.17B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | -381M | 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 |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 184.45B | 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 Turnover | 0.10x | 0.10x | 0.10x | 0.09x | 0.09x | 0.08x | 0.07x | 0.09x | 0.09x | 0.08x | 0.08x | 0.08x | 0.08x | 0.08x | 0.08x | 0.08x | 0.07x | 0.07x | 0.09x | 0.08x | 0.08x | 0.08x | 0.08x |
| Asset Growth % | 13.36% | 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% | - |
| Total Current Liabilities | 33.48B | 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 |
| Accounts Payable | 0 | 0 | 2.7B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| 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 |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | 0 | 2.98B | -2.7B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.85B | 8.78B | 8.55B | 8.23B | 6.21B | 6.71B | 6.81B | 6.99B |
| Current Ratio | 0.70x | 7.87x | 107.24x | 98.84x | 42.32x | 277.60x | 254.82x | 219.73x | 200.70x | 196.67x | 192.58x | 184.03x | 190.41x | 75.94x | 77.32x | 4.08x | 5.53x | 5.23x | 1.23x | 1.17x | 0.88x | 0.68x | 0.47x |
| Quick Ratio | 0.70x | 7.87x | 107.24x | 98.84x | 42.32x | 277.60x | 254.82x | 219.73x | 200.70x | 196.67x | 192.58x | 184.03x | 190.41x | 75.94x | 77.32x | 4.08x | 5.53x | 5.23x | 1.23x | 1.17x | 0.88x | 0.68x | 0.47x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 144.76B | 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 |
| Long-Term Debt | 3.08B | 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 |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 178.24B | 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 Debt | 3.28B | 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 | -5.06B | -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 |
| Debt / Equity | 0.53x | 0.90x | 1.05x | 1.22x | 1.42x | 0.87x | 0.84x | 0.86x | 0.86x | 0.88x | 0.86x | 1.24x | 1.09x | 0.97x | 0.81x | 0.73x | 0.73x | 0.23x | 0.33x | 0.26x | 0.28x | 0.25x | 0.06x |
| Debt / EBITDA | 0.61x | 1.16x | 1.14x | 1.53x | 1.25x | 1.37x | 2.18x | 1.94x | 1.60x | 1.91x | 2.53x | 3.67x | 3.19x | 3.44x | 5.30x | 4.74x | 4.15x | 1.69x | 3.09x | 1.41x | 1.61x | 1.02x | 0.22x |
| Net Debt / EBITDA | -0.95x | -0.84x | -0.63x | -0.48x | -0.40x | -0.54x | -0.84x | 0.43x | 0.57x | 0.97x | 1.37x | 2.67x | 2.24x | 2.27x | 3.31x | 2.83x | 2.48x | -0.77x | -6.41x | -1.27x | -0.37x | -0.31x | -0.36x |
| Interest Coverage | 16.22x | 14.82x | 13.93x | 10.98x | 20.85x | 18.45x | 12.23x | 11.33x | 10.63x | 10.84x | 7.10x | 6.08x | 7.98x | 6.76x | 4.91x | 4.83x | 5.89x | 7.81x | -2.40x | 10.07x | 8.43x | - | - |
| Total Equity | 6.21B | 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 % | 74.51% | 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% | - |
| Book Value per Share | 65.74 | 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 |
| Total Shareholders' Equity | 6.21B | 6.55B | 5.23B | 4.73B | 3.8B | 5.94B | 5.87B | 5.73B | 5.59B | 6B | 6.29B | 7.19B | 8.12B | 8.19B | 9.09B | 10.32B | 10.75B | 9.27B | 6.18B | 7.81B | 7.92B | 7.69B | 6.7B |
| 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 |
| Retained Earnings | 28.43B | 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 |
| Treasury Stock | -31.45B | -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 |
| Accumulated OCI | -1.21B | -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 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.19B | 1.18B | 1.04B | 620M | 706M | 560M | 603M | 0 | 0 | 0 | 0 | 0 |
Liquidity and capital volatility
As reported in recent financial statements, Ameriprise Financial's equity base has shown modest growth from $4.7 billion in 2023Q4 to $6.2 billion in 2026Q1, though this trajectory appears heavily influenced by the firm's aggressive capital return strategy and periodic adjustments to its retained earnings.
The gradual expansion of retained earnings suggests a consistent ability to generate internal capital, yet the overall equity growth remains constrained by the firm's commitment to share repurchases. Investors should monitor whether this capital allocation strategy remains sustainable if market volatility continues to impact the valuation of the firm's insurance-related assets.
According to quarterly filings, the firm's debt-to-equity ratio has fluctuated significantly, ranging from 0.53 in 2026Q1 to a peak of 1.22 in 2023Q4, indicating that management actively adjusts its leverage profile in response to changing market conditions and capital requirements.
The reduction in debt levels observed in the most recent quarter suggests a potential shift toward a more conservative balance sheet posture. However, the historical volatility in this metric warrants further investigation into whether this deleveraging is a strategic choice or a reaction to shifting regulatory capital mandates.
Based on reported figures, the firm's cash position has experienced extreme variance, dropping from $59.1 billion in 2023Q4 to $8.3 billion in 2026Q1, which has caused the current ratio to swing from 98.84 down to 0.70 over the same period.
This dramatic contraction in liquidity metrics suggests that the firm's cash balances are highly sensitive to operational timing and potential shifts in client deposit behavior. Such volatility may indicate that the firm's liquidity buffer is less stable than headline figures might otherwise imply, necessitating close monitoring of future cash flow reports.
As indicated by recent regulatory filings, retained earnings have grown steadily from $21.9 billion in 2023Q4 to $28.4 billion in 2026Q1, serving as the primary engine for the firm's equity base despite the ongoing impact of share-based compensation and aggressive buyback programs.
The consistent accumulation of retained earnings appears to reflect the underlying profitability of the wealth management and asset management segments. However, the persistent use of these funds for shareholder returns suggests that the firm's equity quality is highly dependent on maintaining high levels of recurring fee-based income.
Based on the provided balance sheet data, the appearance of $2.6 billion in goodwill as of 2026Q1, following periods of zero reported goodwill, suggests that recent acquisitions like the BMO EMEA integration are beginning to impact the firm's asset composition.
The re-emergence of goodwill on the balance sheet introduces potential impairment risk, particularly if the acquired institutional businesses fail to meet growth expectations in the European market. Investors should consider whether these intangible assets accurately reflect the long-term value of the acquired operations or if they represent a future drag on book value.
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.