Asset management company Affiliated Managers Group (NYSE: AMG) fell short of the market’s revenue expectations in Q4 CY2025, but sales rose 6.2% year on year to $556.6 million. Its non-GAAP profit of $9.48 per share was 7.3% above analysts’ consensus estimates.

Is now the time to buy Affiliated Managers Group? Find out by accessing our full research report, it’s free.

Company Overview

Using a partnership approach that preserves entrepreneurial culture at its portfolio companies, Affiliated Managers Group (NYSE: AMG) is an investment firm that acquires stakes in boutique asset management companies while allowing them to maintain operational independence.

Revenue Growth

A company’s long-term sales performance is one signal of its overall quality. Any business can have short-term success, but a top-tier one grows for years. Unfortunately, Affiliated Managers Group struggled to consistently increase demand as its $2.07 billion of revenue for the trailing 12 months was close to its revenue five years ago. This was below our standards and is a rough starting point for our analysis.

We at StockStory place the most emphasis on long-term growth, but within financials, a half-decade historical view may miss recent interest rate changes, market returns, and industry trends. Just like its five-year trend, Affiliated Managers Group’s revenue over the last two years was flat, suggesting it is in a slump. Note: Quarters not shown were determined to be outliers, impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.

This quarter, Affiliated Managers Group’s revenue grew by 6.2% year on year to $556.6 million, missing Wall Street’s estimates.

While Wall Street chases Nvidia at all-time highs, an under-the-radar semiconductor supplier is dominating a critical AI component these giants can’t build without. Click here to access our free report one of our favorites growth stories.

Assets Under Management (AUM)

Assets Under Management (AUM) encompasses all client funds under a firm's investment management umbrella. The recurring fee structure on these assets provides consistent revenue generation, offering financial stability even during periods of poor investment returns, though sustained underperformance can impact future asset flows.

Affiliated Managers Group’s AUM has grown at an annual rate of 3.5% over the last five years, worse than the broader financials industry but faster than its total revenue. When analyzing Affiliated Managers Group’s AUM over the last two years, we can see that growth accelerated to 8.2% annually. Fundraising or short-term investment performance were net contributors for the company over this shorter period since assets grew faster than total revenue. That said, assets aren't the be-all and end-all due to their unpredictable and cyclical nature.

Affiliated Managers Group’s AUM punched in at $813.3 billion this quarter. This print was 14.9% higher than the same quarter last year.

Key Takeaways from Affiliated Managers Group’s Q4 Results

It was good to see Affiliated Managers Group beat analysts’ EPS expectations this quarter. On the other hand, its revenue missed. Zooming out, we think this was a mixed quarter. The stock traded up 2.4% to $315.34 immediately following the results.

So do we think Affiliated Managers Group is an attractive buy at the current price? If you’re making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here (it’s free).