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

MGRE • • Banking & Credit

Financial ServicesAsset ManagementTraditional Asset ManagementMulti-Affiliate Platform Managers

AboutAffiliated Managers Group, Inc., through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments. The company also offers investment products in various investment styles in the institutional distribution channel, including small, small/mid, mid, and large capitalization value and growth equity, and emerging markets. In addition, it offers quantitative, alternative, and fixed income products, and manages assets for foundations and endowments, defined benefit, and defined contribution plans for corporations and municipalities. Affiliated Managers Group provides investment management or customized investment counseling and fiduciary services. Affiliated Managers Group, Inc. was formed in 1993 and is based in West Palm Beach, Florida with additional offices in Prides Crossing, Massachusetts; Stamford, Connecticut; London, United Kingdom; Dubai, United Arab Emirates; Sydney, Australia; Hong Kong; Tokyo, Japan, Zurich, Switzerland and Delaware.Show more

Net Interest Income -$133M -7.7%
Total Revenue $2.04B -0.8%
Net Income $512M -24.0%
Return on Equity 10.64% -24.0%
Net Interest Margin -1.51% -10.5%
Efficiency Ratio 20.53% +0.7%
ROA 5.72% -23.8%
Equity / Assets 52.64% -3.9%
Book Value per Share 128.77 +9.5%
Tangible BV/Share 10.14 -31.8%
Debt/Equity 0.56 +10.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 100.7%
✓Efficient operations: 20.5% efficiency ratio
✓Well capitalized: 52.6% equity/assets
✓Good 3Y average ROE of 16.7%
✓Share count reduced 14.5% through buybacks
✓Diversified revenue: 100.0% from non-interest income

✗Weaknesses

✗Weak NIM of -1.5%

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

10Y6.57%

5Y117.62%

3Y5.05%

TTM9.26%

ROCE

10Y Avg10.91%

5Y Avg9.86%

3Y Avg9.1%

Latest8.5%

Peer Comparison

Multi-Affiliate Platform Managers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PXP10, Inc.	792.38M	10.15	63.44	22.63%	6.31%	3.86%	12.19%	0.88
AMGAffiliated Managers Group, Inc.	8.74B	310.84	20.54	-0.82%	25.07%	11.7%	10.62%	0.56
VCTRVictory Capital Holdings, Inc.	4.36B	67.07	15.31	8.82%	32.33%	12.26%	7.78%	0.86
VRTSVirtus Investment Partners, Inc.	1.14B	168.89	10.00	7.29%	13.49%	14.22%		2.45
MGREAffiliated Managers Group, Inc.		24.19	1.60	-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+	-48.6M	-91.7M	-87.8M	-80.6M	-76.2M	-92.3M	-111.4M	-114.4M	-123.8M	-133.3M
NII Growth %	0.54%	-0.89%	0.04%	0.08%	0.05%	-0.21%	-0.21%	-0.03%	-0.08%	-0.08%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	40.3M	0	0	0	0	0	0	0	0	0
Interest Expense	88.9M	91.7M	87.8M	80.6M	76.2M	92.3M	111.4M	114.4M	123.8M	133.3M
Loan Loss Provision	938.8M	840.7M	891.2M	906.6M	866.8M	791.4M	935.7M	957.1M	783.7M	782M
Non-Interest Income+	2.44B	2.19B	2.31B	2.38B	2.24B	2.03B	2.41B	2.33B	2.06B	2.04B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	2.48B	2.19B	2.31B	2.38B	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	332.9M	556.9M	218.1M	624.2M	542.6M	481M	399.4M	452.9M	419.5M	418.9M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	1.12B	705.3M	1.11B	767M	754M	662.8M	965.9M	805.2M	730.8M	706.7M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.38%	-0.37%	0.57%	-0.31%	-0.02%	-0.12%	0.46%	-0.17%	-0.09%	-0.03%
Pretax Income+	1.09B	974.6M	1.07B	713.6M	308M	508.4M	1.14B	1.75B	1.09B	923.2M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	263.4M	235.6M	58.4M	181.3M	2.9M	81.4M	251M	358.3M	185.3M	182.6M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	509.5M	472.8M	689.5M	243.6M	15.7M	202.2M	565.7M	1.15B	672.9M	511.6M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.17%	-0.07%	0.46%	-0.65%	-0.94%	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)+	9.28	8.57	12.03	4.52	0.31	4.33	13.05	25.35	17.42	15.13
EPS Growth %	0.16%	-0.08%	0.4%	-0.62%	-0.93%	12.97%	2.01%	0.94%	-0.31%	-0.13%
EPS (Basic)	9.49	8.73	12.30	4.54	0.31	4.34	13.65	29.77	19.18	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	3.23B	2.84B
Investments Growth %	0.08%	0.59%	-0.02%	-0.12%	-0.21%	-0.02%	0.08%	0.27%	-0.01%	-0.12%
Long-Term Investments	2.09B	3.52B	3.47B	2.99B	2.41B	2.33B	2.51B	2.56B	2.77B	2.79B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	2.67B	2.63B	2.66B	2.63B	2.65B	2.66B	2.69B	2.65B	2.52B	2.5B
Intangible Assets	1.69B	1.5B	1.45B	1.31B	1.18B	1.05B	1.97B	1.88B	1.81B	1.78B
PP&E (Net)	114.1M	110.1M	111M	104.3M	92.3M	79.6M	73.9M	68.5M	67.3M	57.6M
Other Assets	59.2M	61.2M	58.1M	94M	304M	230.9M	231.1M	264.6M	243.9M	288.7M
Total Current Assets	1.15B	936.5M	951.1M	1.09B	1.02B	1.54B	1.41B	1.46B	1.64B	1.42B
Total Non-Current Assets	6.61B	7.81B	7.75B	7.13B	6.64B	6.35B	7.47B	7.42B	7.42B	7.41B
Total Assets+	7.77B	8.75B	8.7B	8.22B	7.65B	7.89B	8.88B	8.88B	9.06B	8.83B
Asset Growth %	0.01%	0.13%	-0.01%	-0.06%	-0.07%	0.03%	0.13%	0%	0.02%	-0.03%
Return on Assets (ROA)	0.07%	0.06%	0.08%	0.03%	0%	0.03%	0.07%	0.13%	0.08%	0.06%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	1.88B	2.11B	1.85B	2.61B	2.24B	2.31B	2.49B	2.54B	2.54B	2.62B
Net Debt	1.32B	1.68B	1.42B	2.04B	1.7B	1.27B	1.58B	2.11B	1.72B	1.67B
Long-Term Debt	1.82B	2.11B	1.85B	1.83B	1.79B	2.31B	2.49B	2.54B	2.54B	2.62B
Short-Term Debt	0	0	0	779.7M	449.7M	0	0	0	0	0
Other Liabilities	213.3M	149.4M	182.4M	162.7M	359.1M	452.2M	709.2M	461.7M	466.3M	402.4M
Total Current Liabilities	729.4M	729.3M	807.2M	746.6M	634.6M	712.4M	789.1M	778.3M	628.5M	639.1M
Total Non-Current Liabilities	2.66B	2.92B	2.5B	2.5B	2.6B	3.19B	3.7B	3.46B	3.47B	3.54B
Total Liabilities	3.39B	3.65B	3.31B	3.25B	3.24B	3.9B	4.49B	4.24B	4.1B	4.18B
Total Equity+	4.38B	5.1B	5.39B	4.97B	4.42B	3.99B	4.38B	4.64B	4.96B	4.65B
Equity Growth %	0.02%	0.16%	0.06%	-0.08%	-0.11%	-0.1%	0.1%	0.06%	0.07%	-0.06%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.12%	0.1%	0.13%	0.05%	0%	0.05%	0.14%	0.25%	0.14%	0.11%
Book Value per Share	76.60	89.47	91.99	92.35	87.27	85.41	97.87	94.71	117.62	128.77
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	600K	600K	600K	600K	600K	600K	600K	600K	600K	600K
Additional Paid-in Capital	694.9M	1.07B	808.6M	835.6M	707.2M	728.9M	651.6M	695.5M	741.4M	733.1M
Retained Earnings	2.58B	3.05B	3.7B	3.88B	3.82B	4.01B	4.57B	5.72B	6.39B	6.9B
Accumulated OCI	-18.1M	-122.9M	-21.8M	-109M	-108.8M	-98.3M	-87.9M	-203.4M	-167.6M	-163.6M
Treasury Stock	-421.9M	-386M	-663.7M	-1.15B	-1.48B	-1.86B	-2.35B	-2.98B	-3.38B	-4.12B
Preferred Stock	0	0	0	0	0	0	0	0	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	1.05B	1.17B	1.14B	929.1M	1.01B	1.26B	1.05B	874.3M	932.1M
Operating CF Growth %	-0.16%	-0.13%	0.11%	-0.03%	-0.19%	0.09%	0.25%	-0.16%	-0.17%	0.07%
Net Income	833.7M	739M	1.01B	532.3M	305.1M	427M	890.1M	1.39B	906.1M	740.6M
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	-55.8M	26.8M	91.2M	32M	31.4M	31.4M
Other Non-Cash Items	12.2M	-1.9M	97.1M	322.6M	546.9M	266.7M	-21.1M	-685.1M	-8M	62.9M
Working Capital Changes	29.2M	43.8M	-8.9M	-4.1M	-123.3M	10M	120M	138.5M	-228.6M	-56.8M
Cash from Investing+	-324.5M	-1.33B	13.8M	-18.2M	-24.4M	-53.7M	-583.7M	-109.9M	264.5M	379.1M
Purchase of Investments	-13.5M	-16M	-37.2M	-40.8M	-85.4M	-47.7M	-73.5M	-312M	-731.1M	-510.4M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-297.7M	-1.36B	-30.6M	0	-44.6M	-44.5M	-558.2M	-66.7M	200K	-5.2M
Other Investing	0	0	0	-7.3M	42.3M	0	0	0	-700K	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	-502.1M	-650.2M	-745.8M	-775.3M	-409.3M	-816.3M
Stock Issued	57.8M	465.8M	41.9M	9.7M	10.5M	20.2M	117.7M	15.2M	13.4M	6.3M
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	-338.5M	-333.4M	-335.5M	-580.4M	-360.9M	-462.1M
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	-100K	-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	76.4M	85M	82.1M	76.9M	84.1M	88.3M	103M	109.4M	110.4M	138.2M
Income Taxes Paid	89.6M	152.3M	165M	160.2M	102.7M	12.4M	87.1M	120.2M	314.5M	142.5M
Free Cash Flow+	1.18B	1.03B	1.15B	1.12B	919.5M	1B	1.25B	1.04B	861.9M	928.7M
FCF Growth %	-0.17%	-0.12%	0.12%	-0.03%	-0.18%	0.09%	0.25%	-0.17%	-0.17%	0.08%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	11.75%	9.97%	13.15%	4.7%	0.33%	4.81%	13.51%	25.39%	14.01%	10.64%
Return on Assets (ROA)	6.59%	5.72%	7.9%	2.88%	0.2%	2.6%	6.75%	12.91%	7.5%	5.72%
Net Interest Margin	-0.63%	-1.05%	-1.01%	-0.98%	-1%	-1.17%	-1.26%	-1.29%	-1.37%	-1.51%
Efficiency Ratio	13.4%	25.38%	9.46%	26.24%	24.23%	23.72%	16.56%	19.44%	20.39%	20.53%
Equity / Assets	56.4%	58.29%	61.94%	60.45%	57.7%	50.56%	49.4%	52.26%	54.79%	52.64%
Book Value / Share	76.6	89.47	91.99	92.35	87.27	85.41	97.87	94.71	117.62	128.77
NII Growth	54.45%	-88.68%	4.25%	8.2%	5.46%	-21.13%	-20.69%	-2.69%	-8.22%	-7.67%
Dividend Payout	-	-	6.51%	26.44%	415.92%	8.31%	0.3%	0.14%	0.22%	0.27%

Revenue by Geography

	2024
UNITED STATES	1.49B
UNITED STATES Growth	-
OTHER	55.2M
OTHER Growth	-

Frequently Asked Questions

Valuation & Price

Affiliated Managers Group, Inc. (MGRE) has a price-to-earnings (P/E) ratio of 1.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

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

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

Dividend & Returns

Yes, Affiliated Managers Group, Inc. (MGRE) pays a dividend with a yield of 0.16%. This makes it attractive for income-focused investors.

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

Industry Metrics

Affiliated Managers Group, Inc. (MGRE) has a net interest margin (NIM) of -1.5%. NIM has been under pressure due to interest rate environment.

Affiliated Managers Group, Inc. (MGRE) has an efficiency ratio of 20.5%. This is excellent, indicating strong cost control.

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