Affiliated Managers Group (AMG) FY2020 results: revenue $2.0 billion, down 9.5% on the year
Affiliated Managers Group, Inc. (AMG) reported revenue of $2.0 billion for fiscal 2020, the year ended 31 December 2020, down 9.5% on the year before. Net income was $202 million, up 1187.9%, and diluted earnings per share $4.33. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$2.0 billion
-9.5% on the year
FY2016FY2020
Operating margin
25.5%
FY2016FY2020
Net income
$202 million
+1,187.9% on the year
FY2016FY2020
Diluted EPS
$4.33
+1,296.8% on the year
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
2,028
2,240
2,378
-9.5%
Selling, general and administrative
321
377
418
-14.7%
Operating income
518
n/a
686
Operating margin
25.5%
n/a
28.9%
Interest expense
92.3
76.2
80.6
+21.1%
Pre-tax income
508
308
714
+65.1%
Income tax
81.4
2.9
181
+2,706.9%
Effective tax rate
16.0%
0.9%
25.4%
Net income
202
15.7
244
+1,187.9%
Net margin
10.0%
0.7%
10.2%
Diluted EPS
$4.33
$0.31
$4.52
+1,296.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,009
929
1,141
+8.6%
Capital expenditure
8.5
9.6
18.7
-11.5%
Free cash flow
1,001
920
1,122
+8.8%
Free cash flow margin
49.4%
41.1%
47.2%
Cash from investing
-53.7
-24.4
-18.2
Cash from financing
-455
-935
-983
Share-based compensation
119
90.4
44.7
+31.9%
Buybacks
335
356
496
-5.9%
Dividends paid
16.8
65.3
64.4
-74.3%
Dividend per share
$0.35
$1.28
$1.20
-72.7%
Diluted shares, weighted
47m
51m
54m
-7.7%
Shares outstanding at period end
58m
58m
58m
0.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,780
2,938
3,457
-5.4%
Non-controlling interest
538
562
678
-4.3%
Redeemable equity
672
917
834
-26.7%
Debt
2,312
1,794
1,830
+28.9%
Other liabilities
1,588
1,444
1,421
+10.0%
Total liabilities and equity
7,889
7,654
8,219
+3.1%
Fixed assets
79.6
92.3
104
-13.8%
Goodwill
2,661
2,652
2,633
+0.4%
Intangible assets
1,049
1,182
1,310
-11.3%
Cash and equivalents
1,040
540
566
+92.7%
Other assets
3,059
3,188
3,606
-4.0%
Total assets
7,889
7,654
8,219
+3.1%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.