AFFILIATED MANAGERS GROUP, INC.

AMG 10-K · FY 2025

AMG FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Revenue 2,074.4 2,040.9 +1.6%
Show Geography breakouts
GB 527 500.5 +5.3%
Other 60.5 55.2 +9.6%
US 1,486.9 1,485.2 +0.1%
Labor And Related Expense 1,019.8 915.3 +11.4%
Selling, General & Administrative 408.6 376.5 +8.5%
Amortization And Impairments Of Intangible Assets 160.3 29 +452.8%
Show Intangible Assets by Major Class [Axis] breakouts
Customer Relationships 160.3 29 +452.8%
Interest Expense Operating 136.5 133.3 +2.4%
Depreciation And Other Amortization 10.4 13.4 -22.4%
Other Operating Income Expense Net 69.8 40.3 +73.2%
Operating Expenses 1,805.4 1,507.8 +19.7%
Income Loss From Equity Method Investments 462.9 312.7 +48.0%
Gain Loss On Sale Of Business 371.3
Investment And Other Income Loss 83.1 77.4 +7.4%
Income Before Taxes 1,186.3 923.2 +28.5%
Income Tax Expense (Benefit) 282.3 182.6 +54.6%
Net Income 904 740.6 +22.1%
Show Equity Components breakouts
Noncontrolling Interest 187.4 229 -18.2%
Retained Earnings 716.6 511.6 +40.1%
Show Related Party Transactions By Related Party breakouts
Equity Method Investee 1,971.2 1,506.4 +30.9%
Net Income Loss Attributable To Noncontrolling Interest -187.4 -229 +18.2%
Net Income 716.6 511.6 +40.1%
Wtd Avg Shares (Basic) 28.5 31.1 -8.4%
Wtd Avg Shares (Diluted) 33 36.1 -8.6%
EPS (Basic) 25.18 16.45 +53.1%
EPS (Diluted) 22.74 15.13 +50.3%
Revenue (FY)
Show Related Party Transactions By Related Party breakouts
Equity Method Investee 5,326 3,212 +65.8%
Comprehensive Income 773.4 515.6 +50.0%
Net Income Loss Available To Common Stockholders Basic 716.6 511.6 +40.1%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents 586 950 -38.3%
Non-Current Assets
Goodwill 2,531.2 2,504.9 +1.0%
Property, Plant & Equipment 54.4 57.6 -5.6%
Show Geography breakouts
GB 10.2 8.5 +20.0%
Other 0.3 0.2 +50.0%
US 43.9 48.9 -10.2%
Total Assets 9,207.4 8,830.9 +4.3%
Show Related Party Transactions By Related Party breakouts
Equity Method Investee 4,539.9 3,348.2 +35.6%
Intangible Assets (Q)
Show Finite Lived Intangible Assets By Major Class breakouts
Customer Relationships 155 180.3 -14.0%
Other Assets
Accounts Receivable Net 496.2 409.7 +21.1%
Investments In Marketable And Debt Securities And Other Investments 711.6 595.6 +19.5%
Intangible Assets Net Excluding Goodwill 1,639.3 1,777.8 -7.8%
Show Intangible Assets by Major Class [Axis] breakouts
Customer Relationships 1,639.3 1,777.8 -7.8%
Investments In Affiliates Subsidiaries Associates And Joint Ventures 2,870.4 2,246.6 +27.8%
Show Related Party Transactions By Related Party breakouts
Equity Method Investee 2,870.4 2,246.6 +27.8%
Other Assets 318.3 288.7 +10.3%
Show Related Party Transaction breakouts
Affiliate Tax Distributions · Related Party 68.6 59.2 +15.9%
Show Related Party Transactions By Related Party breakouts
Related Party 4.7 7.9 -40.5%
Non-Current Liabilities
Accounts Payable And Accrued Liabilities Current And Noncurrent 806.9 639.1 +26.3%
Long-Term Debt 2,691.3 2,620.2 +2.7%
Show Debt Instrument breakouts
Junior Convertible Trust Preferred Securities · Convertible Debt Securities 340.6
Show Long-Term Debt Type breakouts
Convertible Debt Securities 338.2 339.1 -0.3%
Junior Subordinated Debt 1,189.3 1,189 0.0%
Senior Notes 1,163.8 1,092.1 +6.6%
Deferred Tax Liabilities 533.1 520.5 +2.4%
Total Liabilities 4,785.3 4,182.2 +14.4%
Other Liabilities
Other Liabilities 754 402.4 +87.4%
Show Related Party Transaction breakouts
Affiliate Tax Distributions · Related Party 99.3 87.8 +13.1%
Private Equity Investment Partnerships of Affiliate · Related Party 11.7 14.5 -19.3%
Show Related Party Transactions By Related Party breakouts
Related Party 161.2 54.8 +194.2%
Redeemable Noncontrolling Interest Equity Carrying Amount 246.8 350.5 -29.6%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 32.2 12.9 +149.6%
Stockholders' Equity
Common Stock 0.6 0.6 0.0%
Additional Paid In Capital Common Stock 616.1 733.1 -16.0%
Accumulated Other Comprehensive Income Loss Attributable To Parent Net Of Tax -106.8 -163.6 +34.7%
Retained Earnings 7,615.4 6,899.8 +10.4%
Stockholders Equity Before Treasury Stock 8,125.3 7,469.9 +8.8%
Treasury Stock Common Value -4,886.9 -4,124.6 -18.5%
Total Stockholders' Equity 3,238.4 3,345.3 -3.2%
Other Minority Interests 936.9 952.9 -1.7%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 4,175.3 4,298.2 -2.9%
Show Equity Components breakouts
Accumulated Foreign Currency Adjustment Including Portion Attributable To Noncontrolling Interest -183.6 -253.8 +27.7%
Accumulated Gain Loss Cash Flow Hedge Including Noncontrolling Interest -0.5 0.4 -225.0%
Accumulated Other Comprehensive Income -106.8 -163.6 +34.7%
Additional Paid In Capital 616.1 733.1 -16.0%
Aoci Including Portion Attributable To Noncontrolling Interest -184.1 -253.8 +27.5%
Common Stock 0.6 0.6 0.0%
Noncontrolling Interest 936.9 952.9 -1.7%
Retained Earnings 7,615.4 6,899.8 +10.4%
Treasury Stock Common -4,886.9 -4,124.6 -18.5%
Total Liabilities & Equity 9,207.4 8,830.9 +4.3%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Deferred Income Taxes 83.8 60.6 +38.3%
Equity Method Investment Dividends Or Distributions 467.8 403.9 +15.8%
Show Related Party Transactions By Related Party breakouts
Equity Method Investee 465.9 402.7 +15.7%
Share Based Compensation And Affiliate Equity Expense 202.8 111.6 +81.7%
Gain Loss On Investments -55.7 -39.3 -41.7%
Other Non-Cash Items 8.1 -3.9 +307.7%
Purchases Of Securities By Affiliate Sponsored Consolidated Products -100.6 -76.5 -31.5%
Sale Of Securities By Affiliate Sponsored Consolidated Products 72.7 62.2 +16.9%
Increase Decrease In Receivables -49.8 -44.2 -12.7%
Increase Decrease In Other Operating Assets -28.1 6.6 -525.8%
Increase Decrease In Operating Liabilities 131.7 -19.2 +785.9%
Net Cash from Operations 973.2 932.1 +4.4%
Investing Activities
Payments To Acquire Interest In Subsidiaries And Affiliates -776 -5.9 -13052.5%
Proceeds From Divestiture Of Interest In Subsidiaries And Affiliates 403.8
Proceeds From Equity Method Investment Return Of Capital 9.8 0.7 +1300.0%
Show Related Party Transactions By Related Party breakouts
Equity Method Investee 9.8 0.7 +1300.0%
Capital Expenditures -6.1 -3.4 -79.4%
Payments To Acquire Marketable Securities -103.8 -510.4 +79.7%
Proceeds From Sale Maturity And Collections Of Investments 266.2 898.1 -70.4%
Net Cash from Investing -206.1 379.1 -154.4%
Sale Of Equity Interests Equity Interests Issuable Proceeds 154
Conversion Premium Obligation On Junior Convertible Securities 164.7
Stock Issued Under Other Incentive Plans 137.5 114.4 +20.2%
Payables Recorded For Affiliate Equity Purchases 131.4 35 +275.4%
Shares Received For Tax Withholding For Share Based Compensation Value 108 87.1 +24.0%
Stock Received For The Exercise Of Stock Options 103.1 113.9 -9.5%
Payables Recorded But Not Yet Paid Investments In Affiliates 83.7 7 +1095.7%
Right Of Use Asset Obtained In Exchange For Operating Lease Liability 13 8.8 +47.7%
Financing Activities
Proceeds From Issuance Of Long Term Debt 899.3 847.6 +6.1%
Repayments Of Long Term Debt -826.1 -750 -10.1%
Share Repurchases -706.3 -709.8 +0.5%
Payments Of Dividends Common Stock -1 -1.4 +28.6%
Payments Of Dividends Minority Interest -252.3 -258 +2.2%
Payments For Affiliate Equity Issuances And Repurchases -176.7 -106.5 -65.9%
Proceeds From Affiliate Equity Issuances 6.4 6.3 +1.6%
Subscriptions To Consolidated Affiliate Sponsored Investment Products Net Of Redemptions 21.2 -6.4 +431.2%
Tax Withholding for Share Compensation -108 -87.1 -24.0%
Proceeds From Payments For Other Financing Activities -5.2 -11.9 +56.3%
Net Cash from Financing -1,148.7 -1,175.9 +2.3%
Amortization of Financing Costs (FY)
Show Debt Instrument breakouts
Junior Convertible Trust Preferred Securities · Convertible Debt Securities 0.2 0.2 0.0%
Supplemental
Income Taxes Paid 110.7 142.5 -22.3%
Interest Paid 137.9 138.2 -0.2%
Operating Lease Payments 35.4 39.4 -10.2%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 11.6 -4.2 +376.2%
Net Change in Cash -370 131.1 -382.2%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 586 950 -38.3%
Reduction To Cash Due To Deconsolidation Of Affiliates And Affiliate Sponsored Investment Products 6 5.3 +13.2%

Values in millions USD. Source: SEC EDGAR 10-K filing.

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