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Acadian Asset Management
(NYSE:AAMI)
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Rating:66Neutral
Price Target:
$87.00
▲(7.57% Upside)
Action:Reiterated
Date:07/31/26
The score is primarily held back by financial risk factors—high leverage and a sharp deterioration in TTM free cash flow—despite solid profitability. Offsetting this, the stock shows a strong multi-timeframe uptrend (price above all major moving averages) and the latest earnings call indicated strong operational momentum, clear guidance, and disciplined capital returns. Valuation is a moderate headwind due to a premium P/E, partly balanced by a high dividend yield.
Positive Factors
Scale & Net Inflows
Sustained large-scale AUM and multi-quarter positive net flows build a durable recurring fee base. Scale lowers relative servicing costs and supports distribution leverage, making revenue generation more resilient to short-term market swings and enabling steady investment in products and distribution.
Negative Factors
High Financial Leverage
Elevated leverage reduces financial flexibility and increases vulnerability to market or AUM shocks. A thin equity base amplifies downside risk during losses or outflows, constraining strategic choices (M&A, product investment, buybacks) and raising refinancing or covenant risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Scale & Net Inflows
Sustained large-scale AUM and multi-quarter positive net flows build a durable recurring fee base. Scale lowers relative servicing costs and supports distribution leverage, making revenue generation more resilient to short-term market swings and enabling steady investment in products and distribution.
Read all positive factors
Acadian Asset Management Key Performance Indicators (KPIs)
Any
Assets Under Management by Strategy
Breaks down how the firm's assets are allocated across investment strategies (for example, equities, fixed income, quantitative, and alternatives). Reveals which strategies drive revenue and performance risk, shows whether growth depends on a few approaches or a diversified mix, and highlights capacity limits or scalability for different fee structures.
Breaks down how the firm's assets are allocated across investment strategies (for example, equities, fixed income, quantitative, and alternatives). Reveals which strategies drive revenue and performance risk, shows whether growth depends on a few approaches or a diversified mix, and highlights capacity limits or scalability for different fee structures.
Data provided by:
The Fly
The FlyAcadian Asset Management (AAMI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.08B
Dividend Yield0.25%
Average Volume (3M)224.66K
Price to Earnings (P/E)30.5
Beta (1Y)1.43
Revenue Growth23.66%
EPS Growth17.83%
CountryUS
Employees396
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)2.84
Shares Outstanding35,628,986
10 Day Avg. Volume279,771
30 Day Avg. Volume224,660
Financial Highlights & Ratios
PEG Ratio-11.96
Price to Book (P/B)28.08
Price to Sales (P/S)2.86
P/FCF Ratio9.42
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$81.67Price Target Upside0.97% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)5
Revenue Forecast (FY)$775.56M
Acadian Asset Management Business Overview & Revenue Model
Company Description
Acadian Asset Management, Inc. functions as a holding entity that primarily offers asset management services. The company's operations are structured around its "Quant and Solutions" segment. This division applies a sophisticated, data-driven inve...
How the Company Makes Money
AAMI makes money primarily by charging fees for managing client assets under management (AUM) across its systematic equity strategies. The core revenue stream is management fees, typically calculated as a percentage of AUM and billed periodically ...
Acadian Asset Management Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call highlighted broad-based, multi-quarter momentum: exceptional revenue and profitability growth, record AUM and sustained net inflows, strong investment performance metrics, improved operating leverage, and prudent capital allocation. Offsetting items include deliberate investments in G&A and technology that raised operating expenses, non-cash equity-related charges affecting GAAP results, some fee-rate compression due to mix shift toward lower-fee Enhanced strategies, and early-stage traction in credit products that are expected to scale more in 2027. On balance, the positive financial and operational trends materially outweigh the manageable headwinds.Positive Updates
Strong Earnings and EPS Growth
U.S. GAAP net income attributable to controlling interests rose 170% year-over-year and GAAP EPS increased 171% driven by higher management fees and revenue growth. ENI (economic net income) rose 107% to $47.5 million and ENI diluted EPS was $1.33, up 108%.
Negative Updates
Rising Operating Expenses and G&A Investment
ENI operating expenses increased 19% year-over-year, primarily due to higher G&A (technology and infrastructure investments), AUM-driven servicing costs, increased sales-based compensation, and higher fixed compensation and benefits.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Earnings and EPS Growth
U.S. GAAP net income attributable to controlling interests rose 170% year-over-year and GAAP EPS increased 171% driven by higher management fees and revenue growth. ENI (economic net income) rose 107% to $47.5 million and ENI diluted EPS was $1.33, up 108%.
Read all positive updates
Company Guidance
The company offered specific forward-looking guidance and capital-allocation plans: management expects a full‑year variable compensation ratio of approximately 38%–42% assuming revenue mix and levels similar to Q2 2026, and said the blended fee rate should be “more stable than not” around the current quarter; Acadian reiterated a through‑the‑cycle gross leverage target of 1.5x while exiting Q2 with gross/net debt to adjusted‑EBITDA of 0.8x/0.5x (term loan balance $200M, revolver $0), cash $65M and seed investments $110M; management expects continued strong free cash flow to prioritize organic growth and balance‑sheet flexibility and to return excess capital via dividends and buybacks (interim dividend $0.10/share payable Sept 25, 2026; Q2 repurchases 0.2M shares for $10.6M at a $69.92 VWAP; $1.5B returned since Q4 2019). They also said credit asset‑raising is expected to ramp in 2027 as three‑year track records mature. These forward views were framed against Q2 results including AUM $232.7B (average AUM $220B), $4.3B net inflows (9% annualized organic growth; 10 consecutive quarters positive), management fees $177M, ENI revenue $183M, ENI net income $47.5M (ENI diluted EPS $1.33), adjusted EBITDA up 79% and an operating margin of 40.3%.Acadian Asset Management Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
38
Negative
Cash Flow
29
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 706.40M | 594.30M | 505.60M | 426.60M | 417.20M | 523.80M |
| Gross Profit | 794.80M | 552.00M | 239.20M | 213.20M | 257.60M | 239.20M |
| EBITDA | 198.00M | 181.50M | 163.60M | 133.40M | 183.90M | 225.10M |
| Net Income | 101.40M | 80.00M | 85.00M | 65.80M | 100.60M | 828.40M |
Balance Sheet | ||||||
| Total Assets | 856.90M | 677.00M | 703.20M | 611.40M | 518.70M | 714.80M |
| Cash, Cash Equivalents and Short-Term Investments | 64.60M | 101.20M | 94.80M | 146.80M | 108.40M | 252.10M |
| Total Debt | 257.50M | 322.80M | 341.60M | 346.30M | 349.30M | 472.50M |
| Total Liabilities | 723.70M | 593.00M | 616.10M | 561.90M | 540.30M | 732.40M |
| Stockholders Equity | 92.00M | 60.60M | 20.00M | 40.20M | -21.60M | -17.60M |
Cash Flow | ||||||
| Free Cash Flow | -68.00M | 180.70M | 45.90M | 54.50M | 100.70M | -26.60M |
| Operating Cash Flow | -57.60M | 192.60M | 55.80M | 68.30M | 116.80M | -11.50M |
| Investing Cash Flow | -2.50M | -38.00M | -50.10M | -43.90M | -13.00M | 1.04B |
| Financing Cash Flow | 116.00M | -129.20M | -54.40M | 1.80M | -233.70M | -1.18B |
Acadian Asset Management Technical Analysis
Positive
80.88
Price Trends
78.72
Positive
70.82
Positive
60.03
Positive
Market Momentum
3.56
Negative
70.25
Negative
88.48
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AAMI, the sentiment is Positive. The current price of 80.88 is below the 20-day moving average (MA) of 84.05, above the 50-day MA of 78.72, and above the 200-day MA of 60.03, indicating a bullish trend. The MACD of 3.56 indicates Negative momentum. The RSI at 70.25 is Negative, neither overbought nor oversold. The STOCH value of 88.48 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AAMI.
Acadian Asset Management Risk Analysis
Acadian Asset Management disclosed 1 risk factors in its most recent earnings report. Acadian Asset Management reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Acadian Asset Management Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $3.08B | 30.45 | 161.92% | 0.27% | 23.66% | 17.83% | |
66 Neutral | $2.96B | 33.40 | 19.25% | 0.61% | 37.14% | 38.12% | |
65 Neutral | $2.65B | 23.87 | 4.57% | 3.81% | 72.75% | -46.35% | |
64 Neutral | $1.06B | 8.94 | 17.20% | 5.70% | -5.17% | -14.45% | |
64 Neutral | $1.63B | 14.92 | 5.55% | 11.30% | -29.32% | -39.45% |
* Financial Sector Average
AAMI
Acadian Asset Management
91.56
47.42
107.45%
BBT
Beacon Financial Corporation
31.60
8.53
36.99%
VRTS
Virtus Investment Partners
163.50
-12.56
-7.13%
WT
WisdomTree
21.48
8.56
66.22%
TSLX
Sixth Street Specialty Lending
18.69
-2.91
-13.48%
Acadian Asset Management Corporate Events
Business Operations and StrategyShareholder Meetings
Acadian Asset Management Stockholders Approve 2026 Equity Plan
Neutral
Jun 11, 2026
On June 11, 2026, Acadian Asset Management Inc. held its 2026 Annual Meeting of Stockholders in a virtual format, with a quorum established as 32,712,971 of 35,628,988 eligible shares were present or represented by proxy. Stockholders elected all ...
Business Operations and StrategyFinancial Disclosures
Acadian Highlights Systematic Growth and $219B AUM Momentum
Positive
May 19, 2026
Acadian Asset Management Inc. hosted its previously announced Investor Forum in Boston on May 19, 2026, where executives presented an in-depth overview of its systematic investing platform, long-term performance, product strategy and distribution ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.