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Acadian Asset Management (AAMI) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Acadian Asset Management (AAMI) Q3 2026 earnings results →

Q3 2026 Revenue up 33% year over year to $191M · 19¢ of every $1 of revenue kept as net profit · operating margin 26.4%

Acadian Asset Management made $191M in Q3 2026 (+33% Y/Y). Operating margin 26.4%, net earnings $35.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$191M
Year over year+33%
Operating margin26.4%
Net earnings$35.5M
Operating cash flow$57.3M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $191.2M in Q3 2026, up 33% year over year and up 3% from the previous quarter.

Operating profit was $50.5M, a 26.4% margin (up 8.0 points year over year). Of the extra revenue versus a year earlier, 51% reached operating profit, above the 18% margin then. Total costs grew 20% against revenue growth of 33%. Net earnings were $35.5M, up 135% year over year. The effective tax rate was 27.4%.

Operating cash flow was $57.3M, 150% of net income including minority interests. Working capital and other items added $19.2M.

Quarterly history

Acadian Asset Management revenue by quarterAcadian Asset Management revenue by quarter$185MQ2 2026$191MQ3 2026
Acadian Asset Management net earnings by quarterAcadian Asset Management net earnings by quarter$27.3MQ2 2026$35.5MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 5, 2026$191M+33%26.4%$35.5M$57.3M
Q2 202610-QAug 6, 2026$185M+45%17.5%$27.3M$26.0M

Charts

Acadian Asset Management: where the cash came from (+) and went (−), TTM to Q3 2026Acadian Asset Management: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$47.1MOther financing−$45.6MCash drawn (+) / kept (−)−$33.9MOther investing$32.1MExchange rates$300K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Acadian Asset Management: profit against cash, quarter by quarterAcadian Asset Management: profit against cash, quarter by quarterNet incomeOperating cash flow$40.6M−$19.1MQ4 2024$23.8M−$48.8MQ1 2025$19.1M$61.6MQ2 2025$27.0M−$23.9MQ3 2025$36.7M$8.7MQ4 2025$24.4M−$44.9MQ1 2026$29.4M$26.0MQ2 2026$38.1M$57.3MQ3 2026
Latest (Q3 2026): Net income $38.1M, Operating cash flow $57.3M.
Acadian Asset Management: diluted shares by fiscal yearAcadian Asset Management: diluted shares by fiscal year82MFY202080MFY202143MFY202243MFY202338MFY202436MFY2025
-55.8% since FY2020: buybacks shrank the count.
Acadian Asset Management in its industry: growth against margin (43 companies, SIC 6282)Acadian Asset Management in its industry: growth against margin (43 companies, SIC 6282)revenue growth, year over year →↑ operating marginmedian +8%median 21%KKRAMPAPOBXBENTROWIVZBAMARESAlliancebernstein L.P.TPGEVRLAZOWLSTEPHLIMORNAMGFHIVCTRPJTCGAPAMLCLNHLNEVRTSCNSGCMGOAK-PARPCABXALTIPSRILYSAMGWHGHKHCMLCIHNNAVALUILLRGROWAAMI (+33%, 26%)
Investment Advice; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Acadian Asset Management

We are a holding company that operates a systematic investment management business through our majority owned subsidiary, Acadian Asset Management LLC (“Acadian LLC”). With approximately $178 billion of assets under management as of December 31, 2025, Acadian LLC offers institutional investors across the globe access to a diversified array of systematic investment strategies designed to meet a range of risk and return objectives. The ownership structure of Acadian LLC provides incentives for growth and prudent business management across multiple generations of Acadian LLC partners, who retain meaningful levels of equity in their own business to preserve strong alignment of interests between us, Acadian LLC, their clients, and our stockholders. Our profit-sharing model enables us to participate directly in margin expansion as Acadian LLC grows.

In its own words, from its 10-K, filed Feb 27, 2026.

Acadian Asset Management against its Investment Advice peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +33% against the peers' median +6%. Operating margin: 26.4% against the peers' median 26.4%.

CompanyQuarterRevenueY/YOp. margin
AAMI Acadian Asset ManagementQ3 2026$191M+33%26.4%
KKR KKRQ2 2026$5.7B+12%24.0%
AMP Ameriprise FinancialQ3 2026$5.2B+6%28.9%
APO Apollo Global ManagementQ3 2026$4.7B-52%-30.9%
BX BlackstoneQ3 2026$3.1B-0.8%46.9%
BEN Franklin TempletonQ4 FY26$2.4B+4%14.6%
TROW Price T Rowe GroupQ3 2026$2.0B+6%38.4%
IVZ InvescoQ3 2026$1.9B+14%23.3%
BAM Brookfield Asset ManagementQ2 2026$1.8B+61%62.4%

Source: Acadian Asset Management 10-Q on SEC EDGAR · CIK 1748824 · Investment Advice

Guidance and outlook

Acadian Asset Management: what its forward-looking statements are about (10-Q filed 2026-11-05)Acadian Asset Management: what its forward-looking statements are about (10-Q filed 2026-11-05)Tax2Other1Buybacks & dividends1
4 statements; tone +0.00 (−1 all cautious, +1 all confident); 1 hedged.

13F: who owns AAMI and who is buying

Largest holders of AAMI (13F)Largest holders of AAMI (13F)Paulson$418MBlackRock$321MVanguard Group$110MJennison Associates LLC$109MInvesco$98.4MEmpyrean Capital Partners, LP$93.5MState Street$87.6MVanguard Capital Management LLC$84.1MGeode Capital Management, LLC$69.4MDimensional Fund Advisors LP$65.2M
Funds' net buying of AAMI by quarter (13F)Funds' net buying of AAMI by quarter (13F)−$4.9M2024-09−$22.8M2024-12−$48.7M2025-03−$3.8M2025-06−$54.7M2025-09$13.9M2025-12$42.2M2026-03$21.9M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on AAMI

History

Every quarter: Q3 2026 results · Q2 2026 results

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