Affiliated Managers Group, Inc. (AMG)

Affiliated Managers Group Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	817.2	716.6	511.6	672.9	1,388	565.7
Depreciation & Amortization	170.6	170.7	42.4	61.3	67.4	52.3
Loss (Gain) From Sale of Investments	-45.3	-55.7	-39.3	-84.2	-103.5	-108.7
Loss (Gain) on Equity Investments	53.5	4.9	91.2	210.8	55.4	95
Stock-Based Compensation	189.2	202.8	111.6	112.1	113.8	126.7
Other Operating Activities	-26.4	-92	285.7	120.7	-592.1	459.8
Change in Accounts Receivable	-267.9	-49.8	-44.2	-48.4	87	31.7
Change in Accounts Payable	300.4	131.7	-19.2	-189.4	9.9	64.5
Change in Other Net Operating Assets	16.5	-28.1	6.6	9.2	41.6	23.8
Operating Cash Flow	1,156	973.2	932.1	874.3	1,055	1,259
Operating Cash Flow Growth	24.42%	4.41%	6.61%	-17.10%	-16.24%	24.76%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-7.1	-6.1	-3.4	-12.4	-11.4	-8.4
Investment in Securities	-199	-200	382.5	276.9	-98.5	-575.3
Investing Cash Flow	-206.1	-206.1	379.1	264.5	-109.9	-583.7

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	-	899.3	847.6	25	-	200
Long-Term Debt Repaid	-	-826.1	-750	-25	-60.8	-33
Net Debt Issued (Repaid)	633.6	73.2	97.6	-	-60.8	167
Issuance of Common Stock	6.4	6.4	6.3	13.4	15.2	117.7
Repurchase of Common Stock	-1,358	-991	-903.4	-440.7	-775.3	-745.8
Common Dividends Paid	-1	-1	-1.4	-1.5	-1.6	-1.7
Other Financing Activities	-266.9	-236.3	-375	-329.5	-580.4	-335.5
Financing Cash Flow	-985.4	-1,149	-1,176	-758.3	-1,403	-798.3

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-2	11.6	-4.2	6.9	-22.6	-0.8
Miscellaneous Cash Flow Adjustments	-2.7	6	5.3	-3	1.4	-7.6
Net Cash Flow	-40	-364	136.4	384.4	-479.3	-131.2

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	1,149	967.1	928.7	861.9	1,043	1,251
Free Cash Flow Growth	24.36%	4.13%	7.75%	-17.39%	-16.59%	24.98%
Free Cash Flow Margin	49.16%	46.62%	45.50%	41.88%	44.79%	51.85%
Free Cash Flow Per Share	40.53	29.31	25.73	20.42	21.29	27.92
Levered Free Cash Flow	291.35	450.23	394.29	171.25	688.56	857.93
Unlevered Free Cash Flow	387.79	535.54	477.6	248.63	760.06	927.55

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	137.9	137.9	138.2	110.4	109.4	103
Cash Income Tax Paid	110.7	110.7	142.5	314.5	120.2	87.1
Change in Working Capital	31.1	25.9	-71.1	-219.3	125.6	68.4

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Nov 9, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 15, 2026

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