Affiliated Managers Group, Inc. (AMG) · wyniki II kw. 2026 i wycena

Przy wzroście −3,8% rocznie (3-letni wzrost przychodów) wartość godziwa z modelu to $231.25 na akcję — kurs jest o 60% powyżej niej. Obecna cena zakłada wzrost o 1,2% rocznie.

1. Prognoza

   Quarter economic EPS is expected between $8.43 and $8.71 based on 26.3 million adjusted weighted average shares.

   Cytat ze źródła

   “we are seeing increased early-stage new investment activity and our balance sheet is well positioned to execute against that active... Our balance sheet is further supported by a healthy underlying business, generating recurring and growing annual cash flow of approximately $1 billion on an after-tax basis and ongoing access to capital markets. Our second quarter results reflect both the continued momentum in our business and the advantages of AMG's Affiliate model.”

2. Prognoza

   AMG expects net outflows of $14 billion in long-only equity strategies to improve over the medium to long term.

   Cytat ze źródła

   “Our differentiated long-only equity strategies saw net outflows of $14 billion, but we expect flows in these areas to improve over the medium to long term, consistent with a generally...”

3. Liczba

   Adjusted EBITDA of approximately $316 million and economic earnings per share of $8.29 grew 44% and 54% year-over-year, reflecting performance trends for the quarter.

   Cytat ze źródła

   “Adjusted EBITDA of approximately $316 million and economic earnings per share of $8.29 grew 44% and 54% year-over-year, respectively, reflecting...”

Management was more positive answering analysts than in its script — usually a sign it was comfortable with the details it was asked about.

Zdania, które wpłynęły na ton

“By contrast, we continue to see some headwinds in our differentiated long-only business.”

“I think we believe, and it's hard to always know this, but it reflects the discussions that might have been delayed earlier in the year because of geopolitical uncertainty.”

“Institutions are increasingly directing their alpha allocations to liquid alternatives, given the attractive risk-adjusted returns, the enhanced liquidity profile, compared to private market, say.”