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Acadian Asset Management (AAMI) Financials

Acadian Asset Management logo
$72.50 -0.21 (-0.28%)
Closing price 05/29/2026 03:59 PM Eastern
Extended Trading
$72.04 -0.46 (-0.64%)
As of 05/29/2026 05:40 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Acadian Asset Management

Annual Income Statements for Acadian Asset Management

This table shows Acadian Asset Management's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 4.20 136 -348 287 828 101 66 85 80
Consolidated Net Income / (Loss)		 9.10 130 240 316 934 101 67 87 107
Net Income / (Loss) Continuing Operations		 9.20 130 203 248 128 101 70 87 116
Total Pre-Tax Income 		142 135 213 345 178 145 97 126 143
Total Operating Income		 71 84 222 132 146 168 106 136 132
Total Gross Profit		 176 218 6.00 730 245 258 209 240 250
Total Revenue		 859 915 6.00 973 530 417 427 506 564
Operating Revenue		 859 915 6.00 973 530 417 427 506 564
Total Cost of Revenue		 683 696 0.00 243 285 159 218 266 314
Operating Cost of Revenue		 683 696 - 243 285 159 218 266 314
Total Operating Expenses		 131 147 373 125 93 90 100 104 109
Selling, General & Admin Expense		 113 126 356 88 71 71 83 85 92
Depreciation Expense		 12 15 16 20 22 19 17 19 17
Total Other Income / (Expense), net		 98 51 -13 213 65 -23 -9.50 -9.80 11
Interest Expense		 25 25 32 29 25 24 20 19 23
Interest & Investment Income		 71 56 19 0.30 0.20 0.40 10 7.40 34
Other Income / (Expense), net		 52 20 0.00 241 89 0.20 -0.10 2.20 -0.10
Income Tax Expense		 133 5.00 11 97 50 44 29 39 37
Net Income / (Loss) Attributable to Noncontrolling Interest		 4.90 -6.10 32 29 68 0.00 1.30 1.80 27
Basic Earnings per Share		 $0.04 $1.27 $2.45 $3.53 $12.39 $2.39 $1.59 $2.25 $2.21
Weighted Average Basic Shares Outstanding		 110.71M 107.43M 91.21M 81.26M 77.21M 42.06M 41.49M 37.77M 36.19M
Diluted Earnings per Share		 $0.04 $1.26 $2.45 $3.49 $10.29 $2.33 $1.55 $2.22 $2.21
Weighted Average Diluted Shares Outstanding		 111.38M 107.62M 91.27M 82.04M 80.49M 43.16M 42.54M 38.33M 36.22M
Weighted Average Basic & Diluted Shares Outstanding		 - - 85.69M 79.40M 43.93M 41.45M 38.21M 37.49M 35.72M
Cash Dividends to Common per Share		 $0.36 $0.39 $0.40 $0.13 $0.04 $0.04 $0.04 $0.04 $0.04

Quarterly Income Statements for Acadian Asset Management

This table shows Acadian Asset Management's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 20 23 15 11 17 43 20 10 15 35 24
Consolidated Net Income / (Loss)		 20 24 16 12 19 41 24 19 27 37 24
Net Income / (Loss) Continuing Operations		 21 22 16 12 19 34 25 21 32 38 25
Total Pre-Tax Income 		28 35 22 17 28 58 32 24 34 53 38
Total Operating Income		 30 36 23 21 27 65 32 16 27 57 42
Total Gross Profit		 54 64 48 47 54 92 59 44 60 88 71
Total Revenue		 107 131 106 109 123 168 120 127 144 172 167
Operating Revenue		 107 131 106 109 123 168 120 127 144 172 167
Total Cost of Revenue		 53 67 58 62 70 76 61 84 85 85 96
Operating Cost of Revenue		 53 67 58 62 70 76 61 84 85 85 96
Total Operating Expenses		 23 28 25 26 26 27 27 26 28 29 29
Selling, General & Admin Expense		 19 24 20 21 22 22 22 22 24 24 25
Depreciation Expense		 4.50 4.60 4.60 5.00 4.50 4.40 4.20 4.20 4.10 4.10 3.60
Total Other Income / (Expense), net		 -2.00 -2.50 -1.10 -3.50 1.40 -13 0.20 7.40 7.80 -4.30 -4.30
Interest Expense		 4.80 4.50 5.00 5.30 4.70 4.40 4.80 5.30 4.60 8.40 3.40
Interest & Investment Income		 2.40 4.10 3.00 1.70 4.60 -1.90 4.70 13 12 4.30 -1.00
Other Income / (Expense), net		 0.40 -2.10 0.90 0.10 1.50 -6.80 0.30 -0.20 0.00 -0.20 0.10
Income Tax Expense		 7.70 11 6.10 5.60 9.40 18 8.30 4.50 7.40 16 13
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.20 1.00 1.10 0.50 2.10 -1.90 3.70 9.00 12 2.00 0.10
Basic Earnings per Share		 $0.47 $0.56 $0.37 $0.29 $0.46 $1.13 $0.54 $0.28 $0.42 $0.97 $0.68
Weighted Average Basic Shares Outstanding		 41.51M 41.49M 39.06M 37.55M 37.07M 37.77M 37.36M 35.91M 35.81M 36.19M 35.70M
Diluted Earnings per Share		 $0.46 $0.54 $0.37 $0.29 $0.45 $1.11 $0.54 $0.28 $0.42 $0.97 $0.68
Weighted Average Diluted Shares Outstanding		 42.59M 42.54M 39.73M 38.24M 37.79M 38.33M 37.38M 35.93M 35.85M 36.22M 35.76M
Weighted Average Basic & Diluted Shares Outstanding		 41.51M 38.21M 37.76M 37.07M 37.32M 37.49M 35.80M 35.81M 35.71M 35.72M 35.63M
Cash Dividends to Common per Share		 $0.01 - $0.01 $0.01 $0.01 - $0.01 $0.01 $0.01 - $0.10

Annual Cash Flow Statements for Acadian Asset Management

This table details how cash moves in and out of Acadian Asset Management's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 311 145 -225 283 -152 -131 26 -49 26
Net Cash From Operating Activities		 140 195 -139 91 -12 117 68 56 -2.40
Net Cash From Continuing Operating Activities		 140 195 -115 95 -4.40 117 68 56 -2.40
Net Income / (Loss) Continuing Operations		 9.10 130 203 248 819 101 67 87 107
Consolidated Net Income / (Loss)		 9.10 130 240 316 896 101 67 87 107
Depreciation Expense		 12 15 16 20 22 19 17 19 17
Amortization Expense		 202 209 -47 1.80 44 -25 12 35 61
Non-Cash Adjustments To Reconcile Net Income		 -139 -55 11 -225 -780 49 -34 -88 -242
Changes in Operating Assets and Liabilities, net		 270 -114 -299 49 -113 -27 5.90 3.20 55
Net Cash From Investing Activities		 55 17 9.00 270 1,039 -13 -44 -50 16
Net Cash From Continuing Investing Activities		 55 17 18 276 1,036 -13 -44 -50 16
Purchase of Property, Plant & Equipment		 -14 -22 -33 -26 -15 -16 -14 -9.90 -12
Purchase of Investments		 -146 -104 -25 -18 -2.50 -5.50 -26 -48 -18
Sale and/or Maturity of Investments		 149 78 71 110 43 8.60 8.20 7.50 35
Other Investing Activities, net		 66 -40 0.00 -86 - - -13 0.00 10
Net Cash From Financing Activities		 -96 -67 -95 -77 -1,180 -234 1.80 -54 12
Net Cash From Continuing Financing Activities		 -96 -67 -104 -81 -1,152 -234 1.80 -54 12
Repayment of Debt		 -43 -53 -332 -255 -176 -340 -114 -140 -416
Repurchase of Common Equity		 -74 -72 -242 -47 -1,122 -103 -3.30 -97 -49
Payment of Dividends		 -39 -43 -36 -11 -2.90 -1.20 -2.00 -1.50 -1.50
Issuance of Debt		 76 15 505 80 176 214 114 139 337
Issuance of Common Equity		 0.00 0.00 0.00 0.00 2.70 0.00 0.00 0.10 0.00
Other Financing Activities, net		 -17 85 0.10 153 -30 -3.40 7.10 44 141
Effect of Exchange Rate Changes		 - - - - - - - - 0.50
Cash Interest Paid		 22 22 28 24 20 16 16 15 20
Cash Income Taxes Paid		 71 46 45 33 205 37 38 49 34

Quarterly Cash Flow Statements for Acadian Asset Management

This table details how cash moves in and out of Acadian Asset Management's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -9.80 4.50 -45 -30 -2.10 27 25 -115 38 79 26
Net Cash From Operating Activities		 21 43 -40 46 70 -19 -49 62 -24 8.70 -45
Net Cash From Continuing Operating Activities		 21 43 -40 46 70 -19 -49 -24 62 8.70 -45
Net Income / (Loss) Continuing Operations		 20 24 16 12 19 41 24 -24 70 37 24
Consolidated Net Income / (Loss)		 20 24 16 12 19 41 24 - - 37 24
Depreciation Expense		 4.50 4.60 4.60 5.00 4.50 4.40 4.20 4.20 4.10 4.10 3.60
Amortization Expense		 1.40 6.10 7.30 9.00 12 6.50 1.90 22 19 17 19
Non-Cash Adjustments To Reconcile Net Income		 -28 -38 17 -2.00 6.70 -110 32 -54 -190 -30 -9.30
Changes in Operating Assets and Liabilities, net		 23 47 -85 22 27 39 -110 27 158 -20 -83
Net Cash From Investing Activities		 -13 -20 -1.40 -17 -30 -1.80 12 -2.70 -50 57 -4.20
Net Cash From Continuing Investing Activities		 -13 -20 -1.40 -17 -30 -1.80 12 -2.70 -143 150 -4.20
Purchase of Property, Plant & Equipment		 -2.80 -3.10 -2.40 -2.60 -2.40 -2.50 -2.50 -2.90 -2.80 -3.70 -3.90
Purchase of Investments		 -0.30 -17 -2.30 -15 -30 -0.20 -2.50 -0.10 -15 -0.10 -2.10
Sale and/or Maturity of Investments		 2.60 0.20 3.30 0.30 3.00 0.90 17 0.30 18 0.40 1.80
Net Cash From Financing Activities		 -18 -18 -2.60 -58 -42 49 62 -89 119 -80 75
Net Cash From Continuing Financing Activities		 -18 -18 -2.60 -58 -42 49 62 -89 119 -80 75
Repayment of Debt		 -25 -27 -28 -60 -52 -0.10 -20 -85 -32 -279 -10
Repurchase of Common Equity		 - -3.30 -74 -21 - -1.80 -18 -26 -5.00 - -4.70
Payment of Dividends		 -0.50 -0.30 -0.40 -0.40 -0.40 -0.30 -0.40 -0.40 -0.30 -0.40 -3.60
Issuance of Debt		 - 14 101 23 15 - 100 25 12 200 95
Other Financing Activities, net		 7.70 -1.70 -0.90 - -5.40 51 -0.20 -2.10 144 -0.80 -2.10
Cash Interest Paid		 7.10 0.20 7.20 1.00 6.80 - 6.70 1.00 6.80 5.50 2.80
Cash Income Taxes Paid		 9.60 7.30 1.40 22 9.70 16 1.40 21 6.40 5.40 1.80

Annual Balance Sheets for Acadian Asset Management

This table presents Acadian Asset Management's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1,554 1,420 1,379 715 519 611 703 677
Total Current Assets		 673 147 381 257 123 150 102 127
Cash & Equivalents		 341 111 371 252 108 147 95 101
Restricted Cash		 4.90 9.70 - 0.00 13 0.80 3.70 23
Current Deferred & Refundable Income Taxes		 3.90 26 9.30 4.90 2.00 2.70 3.00 2.90
Plant, Property, & Equipment, net		 49 66 63 50 48 44 36 31
Total Noncurrent Assets		 866 1,207 936 408 348 417 566 519
Noncurrent Note & Lease Receivables		 159 152 - 167 123 143 165 179
Goodwill		 309 275 20 20 20 20 20 20
Noncurrent Deferred & Refundable Income Taxes		 270 244 170 72 65 70 78 78
Other Noncurrent Operating Assets		 57 472 304 148 140 184 303 242
Total Liabilities & Shareholders' Equity		 1,554 1,420 1,379 715 519 611 703 677
Total Liabilities		 1,378 1,221 995 732 540 562 616 593
Total Current Liabilities		 67 47 35 36 36 42 42 64
Accounts Payable		 67 47 31 35 31 39 38 59
Current Deferred & Payable Income Tax Liabilities		 - - 4.10 1.10 4.60 2.60 3.30 4.10
Total Noncurrent Liabilities		 1,310 1,175 959 696 504 520 574 530
Long-Term Debt		 393 569 394 395 274 274 274 200
Noncurrent Employee Benefit Liabilities		 820 543 152 221 152 169 212 259
Other Noncurrent Operating Liabilities		 97 63 100 80 79 77 88 71
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 42 84 - 0.00 0.00 9.30 67 23
Total Equity & Noncontrolling Interests		 134 115 384 -18 -22 40 20 61
Total Preferred & Common Equity		 103 64 302 -18 -22 40 20 61
Total Common Equity		 103 64 302 -18 -22 40 20 61
Common Stock		 765 534 493 0.00 1.50 0.00 0.00 1.00
Retained Earnings		 -641 -453 -177 -6.80 -13 47 24 56
Accumulated Other Comprehensive Income / (Loss)		 -21 -18 -14 -11 -11 -6.70 -4.40 3.40

Quarterly Balance Sheets for Acadian Asset Management

This table presents Acadian Asset Management's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 475 546 558 553 545 533 555 677 672 751 715
Total Current Assets		 118 167 159 149 103 81 77 123 104 174 150
Cash & Equivalents		 101 154 141 143 102 72 54 120 94 139 129
Restricted Cash		 - 13 12 0.00 0.80 1.80 18 3.60 3.70 21 21
Current Deferred & Refundable Income Taxes		 16 0.00 6.20 5.90 0.00 7.90 5.30 0.00 6.70 14 0.10
Plant, Property, & Equipment, net		 48 48 47 46 42 40 38 34 33 31 31
Total Noncurrent Assets		 309 331 352 358 400 412 441 520 539 568 534
Noncurrent Note & Lease Receivables		 91 100 90 104 119 112 119 132 124 139 190
Goodwill		 20 20 20 20 20 20 20 20 20 20 20
Noncurrent Deferred & Refundable Income Taxes		 63 66 67 69 72 75 78 77 83 75 82
Other Noncurrent Operating Assets		 135 145 175 165 188 205 224 291 312 334 242
Total Liabilities & Shareholders' Equity		 475 546 558 553 545 533 555 677 672 751 715
Total Liabilities		 530 554 552 522 555 552 559 585 585 640 616
Total Current Liabilities		 26 29 53 26 30 32 39 33 35 59 72
Accounts Payable		 23 21 52 24 23 30 37 27 33 57 55
Current Deferred & Payable Income Tax Liabilities		 2.70 8.30 1.20 1.30 7.20 1.90 2.10 6.20 2.50 2.40 17
Total Noncurrent Liabilities		 504 525 499 496 525 520 520 552 550 581 545
Long-Term Debt		 302 361 312 287 347 310 274 354 295 275 285
Noncurrent Employee Benefit Liabilities		 125 84 107 132 103 136 172 111 166 212 190
Other Noncurrent Operating Liabilities		 77 80 80 78 75 74 74 86 90 95 70
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - 0.40 2.30 8.30 12 12 14 71 78 91 22
Total Equity & Noncontrolling Interests		 -55 -8.70 3.70 23 -22 -31 -18 22 9.20 20 78
Total Preferred & Common Equity		 -55 -8.70 3.70 23 -22 -31 -18 22 9.20 20 78
Total Common Equity		 -55 -8.70 3.70 23 -22 -31 -18 22 9.20 20 78
Common Stock		 0.90 1.40 1.50 1.80 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Retained Earnings		 -42 -0.80 10 29 -16 -25 -14 25 11 22 74
Accumulated Other Comprehensive Income / (Loss)		 -14 -9.30 -7.90 -8.10 -6.20 -5.40 -3.90 -3.20 -2.10 -1.50 3.30

Annual Metrics And Ratios for Acadian Asset Management

This table displays calculated financial ratios and metrics derived from Acadian Asset Management's official financial filings.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - - - 35,709,120.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 35,709,120.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - 2.24
Growth Metrics		 - - - - - - - - -
Profitability Metrics		 - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 4.60 81 211 95 105 117 74 94 98
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - 46.31% 23.47% 31.79% 37.73%
Earnings before Interest and Taxes (EBIT)		 123 104 222 373 235 168 106 138 132
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 337 327 192 395 301 162 135 191 210
Valuation Ratios		 - - - - - - - - -
Leverage & Solvency		 - - - - - - - - -
Liquidity Ratios		 - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 146 -500 461 259 111 29 6.47 202
Efficiency Ratios		 - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 0.00 -66 646 280 125 131 176 263 160
Increase / (Decrease) in Invested Capital		 0.00 -66 712 -367 -154 5.50 45 87 -103
Book Value per Share		 $0.00 $0.96 $0.71 $3.53 ($0.22) ($0.49) $0.97 $0.54 $1.70
Tangible Book Value per Share		 $0.00 ($2.58) ($3.02) $3.29 ($0.48) ($0.95) $0.48 ($0.01) $1.13
Total Capital		 0.00 569 767 779 377 252 323 361 284
Total Debt		 0.00 393 569 394 395 274 274 274 200
Total Long-Term Debt		 0.00 393 569 394 395 274 274 274 200
Net Debt		 0.00 -276 448 23 143 152 126 176 76
Capital Expenditures (CapEx)		 14 22 33 26 15 16 14 9.90 12
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -64 -21 -26 -31 -34 -39 -39 -61
Debt-free Net Working Capital (DFNWC)		 0.00 605 101 345 221 87 108 60 64
Net Working Capital (NWC)		 0.00 605 101 345 221 87 108 60 64
Net Nonoperating Expense (NNE)		 -4.50 -50 -29 -221 -830 16 6.61 6.77 -8.26
Net Nonoperating Obligations (NNO)		 0.00 -242 448 -105 143 152 126 176 76
Total Depreciation and Amortization (D&A)		 214 223 -31 22 66 -6.10 29 53 78
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $2.45 $3.53 $10.73 $2.39 $3.18 $2.25 $2.21
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 91.21M 81.26M 77.21M 42.06M 41.49M 37.77M 36.19M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $2.45 $3.49 $10.29 $2.33 $1.55 $2.22 $2.21
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 91.27M 82.04M 80.49M 43.16M 42.54M 38.33M 36.22M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 85.69M 79.40M 43.93M 41.45M 38.21M 37.49M 35.72M
Normalized Net Operating Profit after Tax (NOPAT)		 50 81 211 106 105 117 74 94 98
Debt Service Ratios		 - - - - - - - - -
Payout Ratios		 - - - - - - - - -

Quarterly Metrics And Ratios for Acadian Asset Management

This table displays calculated financial ratios and metrics derived from Acadian Asset Management's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - 35,709,120.00 35,722,568.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 35,709,120.00 35,722,568.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.97 0.68
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 23.62% 6.93% 15.14% 13.19% 14.73% 27.90% 13.43% 16.88% 17.14% - 39.28%
EBITDA Growth		 29.89% -13.50% 32.71% 31.00% 34.52% 56.33% 7.28% 106.80% -15.54% - 68.67%
EBIT Growth		 3.03% -32.05% 13.88% 2.87% 6.21% 73.73% 35.29% -22.71% -6.67% - 30.43%
NOPAT Growth		 2.68% -25.31% 18.69% 0.39% -16.93% 86.13% 43.41% -5.36% 15.58% - 14.96%
Net Income Growth		 11.24% -21.71% 30.83% 0.00% -4.04% 70.59% 51.59% 66.09% 42.11% - 2.52%
EPS Growth		 9.52% -23.94% 32.14% 7.41% -2.17% 105.56% 45.95% -3.45% -6.67% - 25.93%
Operating Cash Flow Growth		 -36.53% -20.19% -15.76% 16.29% 228.30% -144.73% -20.79% 20.78% -137.17% - 7.99%
Free Cash Flow Firm Growth		 0.00% 0.00% 81.53% 74.01% 95.99% -101.28% -108.93% -43.93% -343.60% - 275.84%
Invested Capital Growth		 0.00% 34.51% 25.97% 32.22% 13.84% 49.54% 38.45% 31.94% 24.16% - -27.59%
Revenue Q/Q Growth		 11.42% 22.27% -19.44% 3.12% 12.94% 36.31% -28.55% 6.26% 13.19% - -3.02%
EBITDA Q/Q Growth		 34.69% 21.10% -19.23% -5.08% 38.31% 40.73% -44.57% 11.23% 17.37% - -17.92%
EBIT Q/Q Growth		 46.41% 9.48% -28.96% -15.69% 51.16% 79.08% -44.67% -50.31% 66.25% - -26.57%
NOPAT Q/Q Growth		 57.57% 11.65% -32.07% -16.00% 30.39% 150.17% -47.66% -44.57% 59.24% - -31.46%
Net Income Q/Q Growth		 72.17% 20.20% -34.03% -26.75% 65.22% 113.68% -41.38% -19.75% 41.36% - -33.52%
EPS Q/Q Growth		 70.37% 17.39% -31.48% -21.62% 55.17% 146.67% -51.35% -48.15% 50.00% - -29.90%
Operating Cash Flow Q/Q Growth		 -46.06% 101.42% -194.61% 213.12% 52.30% -127.44% -155.50% 226.23% -138.80% - -616.09%
Free Cash Flow Firm Q/Q Growth		 -1.43% 86.40% -52.28% -23.77% 84.36% -582.98% -58.07% 14.73% 51.81% - -18.52%
Invested Capital Q/Q Growth		 6.13% 0.51% 32.99% -6.80% -8.63% 32.04% 23.13% -11.18% -14.02% - 46.87%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 50.61% 48.70% 45.03% 42.94% 43.46% 54.95% 49.29% 34.22% 41.26% - 42.52%
EBITDA Margin		 34.02% 33.69% 33.77% 32.57% 39.89% 41.18% 31.94% 33.44% 34.67% - 38.68%
Operating Margin		 28.15% 27.13% 21.67% 18.90% 21.93% 38.74% 26.61% 12.72% 18.45% - 25.09%
EBIT Margin		 28.52% 25.53% 22.52% 19.72% 26.40% 34.68% 26.86% 12.56% 18.45% - 25.15%
Profit (Net Income) Margin		 18.45% 18.14% 14.85% 10.55% 15.43% 24.20% 19.85% 14.99% 18.72% - 14.61%
Tax Burden Percent		 72.00% 68.19% 72.02% 67.25% 66.90% 69.52% 74.14% 80.93% 78.49% - 64.89%
Interest Burden Percent		 89.87% 104.18% 91.60% 79.53% 87.38% 100.34% 99.69% 147.50% 129.32% - 89.52%
Effective Tax Rate		 28.00% 31.81% 27.98% 32.75% 33.10% 30.48% 25.86% 19.07% 21.51% - 35.11%
Return on Invested Capital (ROIC)		 96.89% 51.51% 32.78% 30.10% 36.80% 62.07% 36.78% 21.92% 36.29% - 35.64%
ROIC Less NNEP Spread (ROIC-NNEP)		 94.18% 51.17% 32.41% 28.91% 37.34% 59.04% 36.85% 24.66% 39.90% - 34.11%
Return on Net Nonoperating Assets (RNNOA)		 433.77% 510.94% -767.24% -893.34% 472.37% 130.56% 212.75% 158.34% 125.76% - 65.10%
Return on Equity (ROE)		 530.66% 562.45% -734.47% -863.24% 509.17% 192.63% 249.54% 180.25% 162.05% - 100.74%
Cash Return on Invested Capital (CROIC)		 0.00% 18.67% 13.41% 12.17% 25.92% 2.95% 3.92% 12.34% 25.03% - 68.71%
Operating Return on Assets (OROA)		 21.56% 19.28% 18.18% 16.38% 22.35% 26.68% 22.84% 11.21% 15.79% - 22.06%
Return on Assets (ROA)		 13.95% 13.70% 12.00% 8.76% 13.06% 18.61% 16.88% 13.39% 16.03% - 12.82%
Return on Common Equity (ROCE)		 389.49% 374.96% -1,206.91% -1,827.65% 92.91% 84.89% 0.00% -57.17% 3.77% - 52.08%
Return on Equity Simple (ROE_SIMPLE)		 220.96% 0.00% -326.27% -208.12% -353.63% 0.00% 437.33% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 22 24 16 14 18 45 24 13 21 40 27
NOPAT Margin		 20.26% 18.50% 15.60% 12.71% 14.67% 26.93% 19.73% 10.29% 14.48% - 16.28%
Net Nonoperating Expense Percent (NNEP)		 2.71% 0.34% 0.36% 1.19% -0.54% 3.04% -0.06% -2.74% -3.61% - 1.52%
Return On Investment Capital (ROIC_SIMPLE)		 - 7.73% 5.07% - - 15.35% 6.29% 4.32% 7.08% 15.22% 7.50%
Cost of Revenue to Revenue		 49.39% 51.30% 54.97% 57.06% 56.54% 45.05% 50.71% 65.78% 58.74% - 57.49%
SG&A Expenses to Revenue		 17.52% 17.99% 18.92% 19.36% 17.71% 13.29% 18.60% 17.11% 16.30% - 14.91%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Expenses to Revenue		 21.71% 21.49% 23.27% 23.95% 21.36% 15.91% 22.10% 20.41% 19.14% - 17.07%
Earnings before Interest and Taxes (EBIT)		 31 34 24 22 33 58 32 16 27 57 42
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 37 44 36 36 49 69 38 43 50 79 65
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 35.08 19.75 0.00 0.00 0.00 49.15 44.68 137.11 84.54 - 25.08
Price to Tangible Book Value (P/TBV)		 308.99 39.90 0.00 0.00 0.00 0.00 692.53 0.00 17,247.02 - 33.99
Price to Revenue (P/Rev)		 1.92 1.86 1.98 1.85 2.01 1.94 1.87 2.34 3.08 - 3.18
Price to Earnings (P/E)		 10.95 12.07 12.74 12.31 14.42 11.56 10.71 14.08 19.64 - 23.09
Dividend Yield		 0.21% 0.21% 0.18% 0.18% 0.16% 0.15% 0.15% 0.11% 0.08% - 0.24%
Earnings Yield		 9.14% 8.29% 7.85% 8.12% 6.94% 8.65% 9.33% 7.10% 5.09% - 4.33%
Enterprise Value to Invested Capital (EV/IC)		 5.46 5.29 4.82 4.98 5.82 4.66 3.93 5.34 7.81 - 8.96
Enterprise Value to Revenue (EV/Rev)		 2.29 2.18 2.56 2.40 2.47 2.42 2.45 2.85 3.45 - 3.44
Enterprise Value to EBITDA (EV/EBITDA)		 8.09 6.90 7.85 7.33 7.20 6.41 6.56 7.12 9.35 - 8.91
Enterprise Value to EBIT (EV/EBIT)		 9.73 8.78 10.36 10.27 10.77 8.90 8.70 10.86 13.84 - 14.82
Enterprise Value to NOPAT (EV/NOPAT)		 11.66 12.61 14.76 14.22 15.94 13.10 12.61 15.24 18.57 - 20.51
Enterprise Value to Operating Cash Flow (EV/OCF)		 12.08 13.61 17.94 15.69 9.85 21.97 26.83 26.48 0.00 - 1,400.61
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 32.50 40.06 46.62 23.90 189.55 116.32 49.27 34.56 - 10.96
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 9.19 5.53 -34.02 -16.49 -72.16 3.15 3.83 3.39 2.47 - 2.87
Long-Term Debt to Equity		 9.19 5.53 -34.02 -16.49 -72.16 3.15 3.83 3.39 2.47 - 2.87
Financial Leverage		 4.61 9.99 -23.67 -30.90 12.65 2.21 5.77 6.42 3.15 - 1.91
Leverage Ratio		 17.72 40.51 -58.97 -85.27 40.45 9.62 14.85 17.70 12.15 - 7.26
Compound Leverage Factor		 15.93 42.20 -54.01 -67.82 35.34 9.66 14.80 26.11 15.72 - 6.50
Debt to Total Capital		 90.19% 84.69% 103.03% 106.45% 101.41% 75.90% 79.30% 77.22% 71.16% - 74.14%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Long-Term Debt to Total Capital		 90.19% 84.69% 103.03% 106.45% 101.41% 75.90% 79.30% 77.22% 71.16% - 74.14%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 2.61% 2.88% 3.41% 4.12% 5.21% 18.57% 15.84% 20.37% 23.56% - 5.70%
Common Equity to Total Capital		 7.20% 12.43% -6.44% -10.57% -6.62% 5.53% 4.86% 2.41% 5.29% - 20.16%
Debt to EBITDA		 2.43 2.03 2.42 2.09 1.71 1.44 1.83 1.37 1.33 - 1.21
Net Debt to EBITDA		 1.22 0.94 1.70 1.60 1.26 0.92 1.19 0.91 0.55 - 0.57
Long-Term Debt to EBITDA		 2.43 2.03 2.42 2.09 1.71 1.44 1.83 1.37 1.33 - 1.21
Debt to NOPAT		 3.50 3.72 4.55 4.06 3.77 2.93 3.51 2.92 2.64 - 2.78
Net Debt to NOPAT		 1.75 1.71 3.20 3.10 2.79 1.88 2.29 1.95 1.10 - 1.32
Long-Term Debt to NOPAT		 3.50 3.72 4.55 4.06 3.77 2.93 3.51 2.92 2.64 - 2.78
Altman Z-Score		 2.20 2.05 2.02 1.94 2.09 2.10 2.13 2.32 2.70 - 3.22
Noncontrolling Interest Sharing Ratio		 26.60% 33.33% -64.32% -111.72% 81.75% 55.93% 100.00% 131.72% 97.67% - 48.31%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 5.84 3.59 3.46 2.58 1.95 2.43 3.70 2.95 2.94 - 2.10
Quick Ratio		 5.61 3.50 3.43 2.27 1.36 2.27 3.59 2.65 2.34 - 1.80
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -153 -21 -32 -39 -6.14 -42 -66 -56 -27 143 116
Operating Cash Flow to CapEx		 757.14% 1,377.42% -1,683.33% 1,757.69% 2,900.00% -764.00% -1,952.00% 2,124.14% -853.57% - -1,151.28%
Free Cash Flow to Firm to Interest Expense		 -31.91 -4.63 -6.34 -7.40 -1.31 -9.53 -13.80 -10.66 -5.92 - 34.26
Operating Cash Flow to Interest Expense		 4.42 9.49 -8.08 8.62 14.81 -4.34 -10.17 11.62 -5.20 - -13.21
Operating Cash Flow Less CapEx to Interest Expense		 3.83 8.80 -8.56 8.13 14.30 -4.91 -10.69 11.08 -5.80 - -14.35
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.76 0.76 0.81 0.83 0.85 0.77 0.85 0.89 0.86 - 0.88
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Fixed Asset Turnover		 9.17 9.28 9.75 10.43 11.29 12.66 13.70 14.89 16.24 - 18.77
Accounts Payable Turnover		 8.31 6.17 10.43 5.90 8.38 6.83 10.79 9.27 6.49 - 8.56
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Payable Outstanding (DPO)		 43.92 59.13 34.99 61.82 43.57 53.41 33.82 39.36 56.26 - 42.66
Cash Conversion Cycle (CCC)		 -43.92 -59.13 -34.99 -61.82 -43.57 -53.41 -33.82 -39.36 -56.26 - -42.66
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 175 176 234 218 199 263 324 288 247 160 234
Invested Capital Turnover		 4.78 2.78 2.10 2.37 2.51 2.31 1.86 2.13 2.51 - 2.19
Increase / (Decrease) in Invested Capital		 175 45 48 53 24 87 90 70 48 -103 -89
Enterprise Value (EV)		 955 930 1,127 1,086 1,159 1,226 1,272 1,536 1,930 - 2,101
Market Capitalization		 803 794 871 837 942 983 970 1,261 1,725 - 1,944
Book Value per Share		 $0.55 $0.97 ($0.57) ($0.82) ($0.48) $0.54 $0.58 $0.26 $0.57 $1.70 $2.17
Tangible Book Value per Share		 $0.06 $0.48 ($1.10) ($1.35) ($1.03) ($0.01) $0.04 ($0.31) $0.00 $1.13 $1.60
Total Capital		 318 323 337 291 270 361 447 381 386 284 384
Total Debt		 287 274 347 310 274 274 354 295 275 200 285
Total Long-Term Debt		 287 274 347 310 274 274 354 295 275 200 285
Net Debt		 144 126 244 237 203 176 231 197 115 76 135
Capital Expenditures (CapEx)		 2.80 3.10 2.40 2.60 2.40 2.50 2.50 2.90 2.80 3.70 3.90
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -20 -39 -30 -24 -34 -39 -33 -29 -46 -61 -71
Debt-free Net Working Capital (DFNWC)		 124 108 73 50 37 60 90 69 115 64 79
Net Working Capital (NWC)		 124 108 73 50 37 60 90 69 115 64 79
Net Nonoperating Expense (NNE)		 1.94 0.48 0.79 2.35 -0.94 4.59 -0.15 -5.99 -6.12 2.97 2.79
Net Nonoperating Obligations (NNO)		 144 126 244 237 203 176 231 201 136 76 135
Total Depreciation and Amortization (D&A)		 5.90 11 12 14 17 11 6.10 27 23 22 23
Debt-free, Cash-free Net Working Capital to Revenue		 -4.69% -9.19% -6.77% -5.21% -7.25% -7.65% -6.41% -5.33% -8.14% - -11.69%
Debt-free Net Working Capital to Revenue		 29.54% 25.41% 16.62% 10.99% 7.95% 11.83% 17.30% 12.80% 20.49% - 12.87%
Net Working Capital to Revenue		 29.54% 25.41% 16.62% 10.99% 7.95% 11.83% 17.30% 12.80% 20.49% - 12.87%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.47 $0.56 $0.37 $0.29 $0.46 $1.13 $0.54 $0.28 $0.42 $0.97 $0.68
Adjusted Weighted Average Basic Shares Outstanding		 41.51M 41.49M 39.06M 37.55M 37.07M 37.77M 37.36M 35.91M 35.81M 36.19M 35.70M
Adjusted Diluted Earnings per Share		 $0.46 $0.54 $0.37 $0.29 $0.45 $1.11 $0.54 $0.28 $0.42 $0.97 $0.68
Adjusted Weighted Average Diluted Shares Outstanding		 42.59M 42.54M 39.73M 38.24M 37.79M 38.33M 37.38M 35.93M 35.85M 36.22M 35.76M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 41.51M 38.21M 37.76M 37.07M 37.32M 37.49M 35.80M 35.81M 35.71M 35.72M 35.63M
Normalized Net Operating Profit after Tax (NOPAT)		 22 24 16 14 18 45 24 13 21 40 27
Normalized NOPAT Margin		 20.26% 18.50% 15.60% 12.71% 14.67% 26.93% 19.73% 10.29% 14.48% - 16.28%
Pre Tax Income Margin		 25.63% 26.60% 20.62% 15.69% 23.07% 34.80% 26.77% 18.52% 23.86% - 22.52%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 6.38 7.44 4.76 4.06 6.91 13.23 6.71 3.02 5.78 - 12.35
NOPAT to Interest Expense		 4.53 5.40 3.30 2.61 3.84 10.27 4.93 2.47 4.54 - 8.00
EBIT Less CapEx to Interest Expense		 5.79 6.76 4.28 3.57 6.40 12.66 6.19 2.47 5.17 - 11.21
NOPAT Less CapEx to Interest Expense		 3.95 4.71 2.82 2.12 3.33 9.70 4.41 1.93 3.93 - 6.85
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 3.36% 2.98% 2.26% 2.50% 2.37% 1.73% 1.58% 1.46% 1.27% - 4.38%
Augmented Payout Ratio		 3.36% 7.90% 111.86% 155.69% 157.50% 113.13% 43.94% 45.95% 47.06% - 37.69%

Financials Breakdown Chart

Key Financial Trends

Acadian Asset Management (NYSE:AAMI) — at a glance from the last four years of quarterly statements, there are clear trends in revenue growth, profitability, cash flow, and leverage. The following points highlight the most relevant takeaways for retail investors.

  • Revenue growth: Operating revenue rose from about 122.7 million in Q4 2022 to 172.2 million in Q4 2025, a roughly 40% increase, reflecting scale and pricing power as assets under management expanded.
  • Healthy gross margins: Gross margins have generally stayed solid, around the 50%–56% range across 2022–2025. For example, Q4 2025 shows gross profit of 87.6 million on 172.2 million in revenue (about 50.8% gross margin).
  • Net income to common shareholders remains positive: Net income to common shareholders stayed positive and progressed over time, rising from about 30.4 million in Q4 2022 to 34.7 million in Q4 2025, indicating ongoing profitability (with intermediate quarterly variations).
  • Cash flow from continuing operating activities improving in 2025: Net cash from continuing operating activities flipped to positive in Q4 2025 (about 8.7 million), after a negative read in Q4 2024 (around -19.1 million), signaling improving cash generation from core operations.
  • Liquidity improving in 2025: Cash and equivalents were around 138.7 million in Q3 2025, indicating a meaningful liquidity cushion that supports ongoing operations and optionality.
  • Modest dividend framework: Cash dividends per share are set at 0.01 USD, reflecting a modest, recurring return of capital to shareholders and a manageable dividend policy relative to earnings.
  • Debt levels appear substantial but relatively stable: Long-term debt sits in a multi-hundred million range and remained broadly flat to gradually fluctuating through 2024–2025, suggesting leverage discipline without dramatic increases.
  • Balance sheet size and composition relatively stable: Total assets and equity generally sit in the mid-to-high hundreds of millions, with a stable asset mix typical for an asset-management business (no dramatic swings in core equity base).
  • Working capital headwinds and financing outflows: Changes in operating assets and liabilities were negative in several quarters (working capital consumption), and financing activity included sizable cash outflows in some periods, weighing on near-term cash balances.
05/30/26 06:27 AM ETAI Generated. May Contain Errors.

Acadian Asset Management Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Acadian Asset Management's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Acadian Asset Management's net income appears to be on a downward trend, with a most recent value of $106.60 million in 2025, rising from $9.10 million in 2017. The previous period was $86.80 million in 2024. See Acadian Asset Management's forecast for analyst expectations on what's next for the company.

Acadian Asset Management's total operating income in 2025 was $132.10 million, based on the following breakdown:
  • Total Gross Profit: $249.80 million
  • Total Operating Expenses: $108.60 million

Over the last 8 years, Acadian Asset Management's total revenue changed from $859.20 million in 2017 to $563.70 million in 2025, a change of -34.4%.

Acadian Asset Management's total liabilities were at $593 million at the end of 2025, a 3.7% decrease from 2024, and a 57.0% decrease since 2018.

In the past 7 years, Acadian Asset Management's cash and equivalents has ranged from $94.80 million in 2024 to $371.30 million in 2020, and is currently $101.20 million as of their latest financial filing in 2025.

Over the last 8 years, Acadian Asset Management's book value per share changed from 0.00 in 2017 to 1.70 in 2025, a change of 169.7%.


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Financial statements for NYSE:AAMI last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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