Affiliated Managers Group vs Federated Hermes
Affiliated Managers Group is the larger business, with $2.07bn of revenue in fiscal 2025 against $1.80bn for Federated Hermes (1.2 times as much). Federated Hermes grew faster (10.3% against 1.6%). Affiliated Managers Group kept more of each dollar of sales as profit: a net margin of 34.5% against 22.4%. Federated Hermes carries less debt relative to equity (29.1% against 84.3%).
| Latest fiscal year | Affiliated Managers GroupAMG, 2025 | Federated HermesFHI, 2025 |
|---|---|---|
| Revenue | $2.07bn | $1.80bn |
| Revenue growth | 1.6% | 10.3% |
| Net income | $717m | $403m |
| Operating margin | — | 28.5% |
| Net margin | 34.5% | 22.4% |
| Return on equity | 21.8% | 35.2% |
| Free cash flow | $967m | $295m |
| Cash | $586m | $583m |
| Total debt | $2.73bn | $348m |
| Debt to equity | 84.3% | 29.1% |
| Dividend per share | $0.04 | $1.33 |
| Dividend yield | 0.0% | 2.5% |
| Share buybacks | $706m | $263m |
| Employees | 5,600 | 2,091 |
| Market value | $9.99bn | $4.44bn |
| Price vs our value range | — | — |
| Moat score | 68 (Moderate) | 94 (Strong) |
| Insider trades, 12 months | 2 buys, 5 sales | 0 buys, 32 sales |