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Affiliated Managers Group (AMG) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 7, 2026 · Affiliated Managers Group (AMG) Q2 2026 earnings results →
Q2 2026 Revenue up 30% year over year to $641M · 29¢ of every $1 of revenue kept as net profit · operating margin 48.0%
Affiliated Managers Group made $641M in Q2 2026 (+30% Y/Y). Operating margin 48.0%, net earnings $186M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 7, 2026.
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 $640.7M in Q2 2026, up 30% year over year and up 18% from the previous quarter.
Operating profit was $307.4M, a 48.0% margin (up 13.2 points year over year). Of the extra revenue versus Q2 2025, 92% reached operating profit, above the 35% margin then. Total costs grew 4% against revenue growth of 30%. The fastest-growing cost line was SG&A (+12%). Net earnings were $185.9M, up 121% year over year. The effective tax rate was 22.8%.
Operating cash flow was $239.0M (up 4% year over year), 101% of net income including minority interests. Non-cash charges added back $10.2M of share-based compensation.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 7, 2026 | $641M | +30% | 48.0% | $186M | $239M |
| Q1 2026 | 10-Q | May 7, 2026 | $545M | +10% | 35.4% | $110M | $299M |
| Q4 2025 | 10-K | Feb 17, 2026 | $557M | +6% | 94.4% | $348M | $256M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $528M | +2% | 68.7% | $212M | $277M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $493M | -1% | 34.8% | $84.3M | $231M |
| Q1 2025 | 10-Q | May 8, 2025 | $497M | -0.7% | 25.5% | $72.4M | $209M |
| Q4 2024 | 10-K | Feb 14, 2025 | $524M | +4% | 52.2% | $162M | $212M |
Charts
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 Affiliated Managers Group
AMG is a strategic partner to leading independent investment firms globally. Our strategy is to generate long-term value by investing in high-quality independent partner-owned firms, which we refer to as “Affiliates,” through a proven partnership
In its own words, from its 10-K, filed Feb 17, 2026.
Affiliated Managers Group against its Investment Advice peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +30% against the peers' median +6%. Operating margin: 48.0% against the peers' median 28.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| AMG Affiliated Managers Group | Q2 2026 | $641M | +30% | 48.0% |
| KKR KKR | Q2 2026 | $5.7B | +12% | 24.0% |
| AMP Ameriprise Financial | Q3 2026 | $5.2B | +6% | 28.9% |
| APO Apollo Global Management | Q3 2026 | $4.7B | -52% | -30.9% |
| BX Blackstone | Q3 2026 | $3.1B | -0.8% | 46.9% |
| BEN Franklin Templeton | Q4 FY26 | $2.4B | +4% | 14.6% |
| TROW Price T Rowe Group | Q3 2026 | $2.0B | +6% | 38.4% |
| IVZ Invesco | Q3 2026 | $1.9B | +14% | 23.3% |
| BAM Brookfield Asset Management | Q2 2026 | $1.8B | +61% | 62.4% |
Source: Affiliated Managers Group 10-Q on SEC EDGAR · CIK 1004434 · Investment Advice
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results