Affiliated Managers Group (NYSE:AMG) Reports Sales Below Analyst Estimates In Q4 CY2025 Earnings

Affiliated Managers Group (NYSE:AMG) Reports Sales Below Analyst Estimates In Q4 CY2025 Earnings

Petr Huřťák

Thu, February 12, 2026 at 9:59 PM GMT+9 3 min read

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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 in our full research report.

Affiliated Managers Group (AMG) Q4 CY2025 Highlights:

**Assets Under Management:** $813.3 billion (14.9% year-on-year growth)

**Revenue:** $556.6 million vs analyst estimates of $566.3 million (6.2% year-on-year growth, 1.7% miss)

**Pre-tax Profit:** $525.7 million (94.4% margin)

**Adjusted EPS:** $9.48 vs analyst estimates of $8.84 (7.3% beat)

**Market Capitalization:** $8.67 billion

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.

Affiliated Managers Group Quarterly Revenue

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.

Affiliated Managers Group Year-On-Year Revenue Growth

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.

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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.

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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 Assets Under Management

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.

Is Affiliated Managers Group an attractive investment opportunity at the current price? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it’s free.

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