Filing Flows › Affiliated Managers Group (AMG) › Q1 2026 › vs Q4 2025
Affiliated Managers Group (AMG) Q1 2026 vs Q4 2025 (quarter over quarter)
Affiliated Managers Group's revenue fell $11.7M (-2%) from $557M in Q4 2025 to $545M in Q1 2026. Operating margin 35.4% against 94.4% (-59.0 pts).
Affiliated Managers Group, Q1 2026: revenue $545M (+10% year over year), operating margin 35.4%, net earnings $110M, operating cash flow $299M. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Operating margin | 35.4% | 94.4% | -59.0 pts |
| Net margin | 20.3% | 62.5% | -42.2 pts |
| Free cash flow margin | 54.2% | 45.7% | +8.5 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $545M | $557M | −$11.7M | -2% |
| Operating profit | $193M | $526M | −$333M | -63% |
| Costs & expenses | $352M | $31.1M | $321M | 11× |
| Pre-tax earnings | $193M | $526M | −$333M | -63% |
| Net earnings | $110M | $348M | −$237M | -68% |
| Minority interests | $36.0M | $30.3M | $5.7M | +19% |
| Income tax | $46.5M | $148M | −$101M | -68% |
| Share-based compensation | $6.9M | $24.9M | −$18.0M | -72% |
| Working capital & other | $182M | −$116M | $298M | — |
| Operating cash flow | $299M | $256M | $42.9M | +17% |
| Free cash flow (OCF − capex) | $296M | $254M | $41.0M | +16% |
| Capital expenditures | $3.8M | $1.9M | $1.9M | +100% |
Questions
How much did Affiliated Managers Group's revenue grow quarter over quarter in Q1 2026?
Affiliated Managers Group's revenue fell $11.7M (-2%) from $557M in Q4 2025 to $545M in Q1 2026. Operating margin 35.4% against 94.4% (-59.0 pts).