Affiliated Managers Group, Inc. (MGRE) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Asset Management
EV/EBITDA
↓
2.90
↓-11% vs avg
5yr avg: 3.24
30Y Low3.1·High3.4
P/FCF
↓
0.64
↓-27% vs avg
5yr avg: 0.88
30Y Low0.8·High1.0
P/B Ratio
↓
0.18
-4% vs avg
5yr avg: 0.19
30Y Low0.2·High0.2
ROE
↑
15.8%
-0% vs avg
5yr avg: 15.9%
30Y Low-6%·High25%
Debt/EBITDA
↑
2.84
↓-5% vs avg
5yr avg: 2.98
30Y Low0.6·High5.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MGRE Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Affiliated Managers Group, Inc. trades at 1.1x earnings, 22% below its 5-year average of 1.3x, sitting at the 0th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.1x, the stock trades at a discount of 92%. On a free-cash-flow basis, the stock trades at 0.6x P/FCF, 27% below the 5-year average of 0.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $640M | $802M | $889M | — | — | — | — | — | — | — | — |
| Enterprise Value | $2.7B | $2.9B | $2.6B | — | — | — | — | — | — | — | — |
| P/E Ratio → | 1.05 | 1.07 | 1.63 | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.26 | 0.33 | 0.44 | — | — | — | — | — | — | — | — |
| P/B Ratio | 0.18 | 0.18 | 0.19 | — | — | — | — | — | — | — | — |
| P/FCF | 0.64 | 0.80 | 0.96 | — | — | — | — | — | — | — | — |
| P/OCF | 0.63 | 0.79 | 0.95 | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
MGRE EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Affiliated Managers Group, Inc.'s enterprise value stands at 2.9x EBITDA, 11% below its 5-year average of 3.2x. The Financial Services sector median is 11.5x, placing the stock at a 75% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.19 | 1.25 | — | — | — | — | — | — | — | — |
| EV / EBITDA | 2.90 | 3.07 | 3.42 | — | — | — | — | — | — | — | — |
| EV / EBIT | 3.53 | 2.20 | 2.42 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 2.89 | 2.76 | — | — | — | — | — | — | — | — |
MGRE Profitability
Margins and return-on-capital ratios measuring operating efficiency
Affiliated Managers Group, Inc. earns an operating margin of 31.8%, above the Financial Services sector average of 21.6%. Operating margins have compressed from 35.5% to 31.8% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 15.8% indicates solid capital efficiency, compared to the sector median of 9.4%. ROIC of 8.1% represents adequate returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 86.0% | 86.0% | 55.2% | 55.9% | 54.0% | 56.6% | 56.4% | 57.9% | 58.5% | 57.5% | 57.5% |
| Operating Margin | 31.8% | 31.8% | 34.6% | 35.5% | 34.6% | 40.0% | 32.7% | 33.7% | 32.2% | 48.1% | 32.1% |
| Net Profit Margin | 29.3% | 29.3% | 25.1% | 32.7% | 49.2% | 23.4% | 10.0% | 0.7% | 10.2% | 29.9% | 21.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.8% | 15.8% | 10.6% | 14.0% | 25.4% | 13.5% | 4.8% | 0.3% | 4.7% | 13.1% | 10.0% |
| ROA | 7.9% | 7.9% | 5.7% | 7.5% | 12.9% | 6.7% | 2.6% | 0.2% | 2.9% | 7.9% | 5.7% |
| ROIC | 8.1% | 8.1% | 7.2% | 7.5% | 8.6% | 11.0% | 7.7% | 7.9% | 7.8% | 11.5% | 7.9% |
| ROCE | 8.6% | 8.6% | 8.5% | 8.8% | 9.9% | 12.7% | 9.3% | 10.4% | 10.0% | 13.9% | 9.4% |
MGRE Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Affiliated Managers Group, Inc. carries a Debt/EBITDA ratio of 2.8x, which is moderately leveraged (31% below the sector average of 4.1x). Net debt stands at $2.1B ($2.7B total debt minus $586M cash). Interest coverage of 9.7x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.61 | 0.61 | 0.56 | 0.51 | 0.55 | 0.57 | 0.58 | 0.51 | 0.53 | 0.34 | 0.41 |
| Debt / EBITDA | 2.84 | 2.84 | 3.50 | 3.20 | 2.91 | 2.45 | 2.81 | 2.44 | 2.89 | 1.53 | 2.53 |
| Net Debt / Equity | — | 0.48 | 0.36 | 0.35 | 0.45 | 0.36 | 0.32 | 0.39 | 0.41 | 0.26 | 0.33 |
| Net Debt / EBITDA | 2.22 | 2.22 | 2.23 | 2.18 | 2.41 | 1.55 | 1.55 | 1.85 | 2.26 | 1.17 | 2.01 |
| Debt / FCF | — | 2.10 | 1.80 | 2.00 | 2.02 | 1.26 | 1.27 | 1.85 | 1.82 | 1.23 | 1.63 |
| Interest Coverage | 9.69 | 9.69 | 7.93 | 9.82 | 16.27 | 11.24 | 6.51 | 5.04 | 9.85 | 13.15 | 11.63 |
MGRE Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio has declined from 2.61x to 2.22x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | — | 2.22 | 2.61 | 1.88 | 1.78 | 2.16 | 1.60 | 1.45 | 1.18 | 1.28 |
| Quick Ratio | — | — | 2.22 | 2.61 | 1.88 | 1.78 | 2.16 | 1.60 | 1.45 | 1.18 | 1.28 |
| Cash Ratio | — | — | 1.49 | 1.29 | 0.55 | 1.15 | 1.46 | 0.85 | 0.76 | 0.54 | 0.59 |
| Asset Turnover | — | 0.27 | 0.23 | 0.23 | 0.26 | 0.27 | 0.26 | 0.29 | 0.29 | 0.26 | 0.25 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
MGRE Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Affiliated Managers Group, Inc. returns 100.0% to shareholders annually — split between a 0.1% dividend yield and 100.0% buyback yield. The payout ratio of 0.1% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 94.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.1% | 0.1% | 0.2% | — | — | — | — | — | — | — | — |
| Payout Ratio | 0.1% | 0.1% | 0.3% | 0.2% | 0.1% | 0.3% | 8.3% | 415.9% | 26.4% | 6.5% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 94.8% | 93.6% | 61.4% | — | — | — | — | — | — | — | — |
| FCF Yield | 100.0% | 125.3% | 104.4% | — | — | — | — | — | — | — | — |
| Buyback Yield | 100.0% | 88.1% | 91.8% | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 100.0% | 88.2% | 92.0% | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $33M | $36M | $42M | $49M | $45M | $47M | $51M | $54M | $59M | $57M |
Peer Comparison
Compare MGRE with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MGREYou | $640M | 1.1 | 2.9 | 0.6 | 86.0% | 31.8% | 15.8% | 8.1% | 2.8 |
 BEN | $16B | 33.5 | 22.5 | 17.4 | 80.3% | 6.9% | 3.7% | 1.6% | 11.7 |
 IVZ | $12B | -16.8 | 16.3 | 8.3 | 43.2% | -10.9% | -2.0% | -2.3% | 8.2 |
 VRTS | $949M | 7.1 | 16.2 | — | 74.9% | 17.4% | 13.5% | 3.0% | 13.9 |
 DHIL | $473M | 9.8 | 110.4 | — | 96.0% | 38.4% | 28.8% | 1.3% | 103.4 |
 CNNE | $1B | -1.5 | — | — | 12.7% | -28.2% | -29.9% | -5.7% | — |
 BLK | $166B | 25.4 | 20.6 | 35.2 | 49.4% | 37.1% | 14.1% | 9.9% | 1.8 |
 STT | $42B | 18.1 | -9.3 | — | 58.5% | 15.5% | 10.9% | 4.6% | 9.2 |
 TROW | $23B | 11.2 | 7.6 | 15.2 | 62.7% | 29.9% | 17.8% | 13.3% | 0.3 |
 APAM | $3B | 9.3 | 6.9 | 15.5 | 45.7% | 33.4% | 37.9% | 26.7% | 1.0 |
 MS | $303B | 23.9 | 25.8 | — | 55.6% | 17.1% | 13.0% | 2.9% | 15.8 |
| Financial Services Median | — | 13.1 | 11.5 | 10.6 | 63.6% | 21.6% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonMGRE — Frequently Asked Questions
Quick answers to the most common questions about buying MGRE stock.
What is Affiliated Managers Group, Inc.'s P/E ratio?
Affiliated Managers Group, Inc.'s current P/E ratio is 1.1x. The historical average is 1.3x.
What is Affiliated Managers Group, Inc.'s EV/EBITDA?
Affiliated Managers Group, Inc.'s current EV/EBITDA is 2.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 3.2x.
What is Affiliated Managers Group, Inc.'s ROE?
Affiliated Managers Group, Inc.'s return on equity (ROE) is 15.8%. The historical average is 9.5%.
Is MGRE stock overvalued?
Based on historical data, Affiliated Managers Group, Inc. is trading at a P/E of 1.1x. Compare with industry peers and growth rates for a complete picture.
What is Affiliated Managers Group, Inc.'s dividend yield?
Affiliated Managers Group, Inc.'s current dividend yield is 0.13% with a payout ratio of 0.1%.
What are Affiliated Managers Group, Inc.'s profit margins?
Affiliated Managers Group, Inc. has 86.0% gross margin and 31.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Affiliated Managers Group, Inc. have?
Affiliated Managers Group, Inc.'s Debt/EBITDA ratio is 2.8x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.