Affiliated Managers Group (AMG) FY2024 results: revenue $2.0 billion, down 0.8% on the year
Affiliated Managers Group, Inc. (AMG) reported revenue of $2.0 billion for fiscal 2024, the year ended 31 December 2024, down 0.8% on the year before. Net income was $512 million, down 24.0%, and diluted earnings per share $15.13. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2025.
Revenue
$2.0 billion
-0.8% on the year
FY2017FY2024
Operating margin
26.1%
27.3% a year earlier
FY2017FY2024
Net income
$512 million
-24.0% on the year
FY2017FY2024
Diluted EPS
$15.13
-13.1% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ 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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
932
874
1,055
+6.6%
Capital expenditure
3.4
12.4
11.4
-72.6%
Free cash flow
929
862
1,043
+7.8%
Free cash flow margin
45.5%
41.9%
44.8%
Cash from investing
379
264
-110
+43.3%
Cash from financing
-1,176
-758
-1,403
Share-based compensation
112
112
114
-0.4%
Buybacks
710
342
714
+107.6%
Dividends paid
1.4
1.5
1.6
-6.7%
Dividend per share
$0.04
$0.04
$0.04
0.0%
Diluted shares, weighted
36m
42m
49m
-14.5%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
3,345
3,588
3,230
-6.8%
Non-controlling interest
953
982
945
-3.0%
Redeemable equity
350
393
465
-10.9%
Debt
2,620
2,538
2,535
+3.3%
Other liabilities
1,562
1,559
1,705
+0.2%
Total liabilities and equity
8,831
9,060
8,881
-2.5%
Fixed assets
57.6
67.3
68.5
-14.4%
Goodwill
2,505
2,524
2,649
-0.7%
Intangible assets
1,778
1,812
1,876
-1.9%
Securities held for sale or to maturity
0.0
405
251
Cash and equivalents
950
814
429
+16.8%
Other assets
3,541
3,437
3,608
+3.0%
Total assets
8,831
9,060
8,881
-2.5%
10-K for the year ended 31 December 2024, filed 14 February 2025: the filing.