Affiliated Managers Group, Inc. cash flow statement
In fiscal 2025, Affiliated Managers Group, Inc.'s operations generated $973m of cash; it spent $6.1m on capital projects, leaving free cash flow of $967m. It returned $1.0m in dividends and $706m through buybacks.
Cash flow statement
| Fiscal year | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,050 | 1,170 | 1,141 | 929 | 1,009 | 1,259 | 1,055 | 874 | 932 | 973 | 1,072 |
| Stock-based pay | 39 | 40 | 45 | 90 | 119 | 127 | 114 | 112 | 112 | 59 | −60 |
| Capital spending | 20 | 19 | 19 | 10 | 9 | 8 | 11 | 12 | 3 | 6 | 7 |
| Free cash flow | 1,030 | 1,152 | 1,122 | 920 | 1,001 | 1,251 | 1,043 | 862 | 929 | 967 | 1,065 |
| Free cash flow after stock pay | 991 | 1,112 | 1,077 | 829 | 882 | 1,124 | 930 | 750 | 817 | 908 | 1,125 |
| Dividends paid | 0 | 45 | 64 | 65 | 17 | 2 | 2 | 2 | 1 | 1 | — |
| Share buybacks | 33 | 351 | 496 | 356 | 335 | 595 | 714 | 342 | 710 | 706 | 794 |
| Shares issued | 466 | 42 | 10 | — | — | — | — | — | — | — | — |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 265 | 213 | 209 | 231 | 277 | 256 | 299 | 239 |
| Stock-based pay | 10 | 23 | 24 | 11 | 13 | −89 | 7 | 10 |
| Capital spending | 1 | 1 | 2 | 1 | 1 | 2 | 4 | 0 |
| Free cash flow | 265 | 211 | 207 | 229 | 276 | 255 | 296 | 239 |
| Free cash flow after stock pay | 254 | 188 | 184 | 219 | 263 | 344 | 289 | 229 |
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