NYSE: AMG · Asset Management
Affiliated Managers Group (AMG) fair value: undervalued or overvalued?
As of 31 Oct 2026, Faircurve's model values Affiliated Managers Group (AMG) at $511.49 a share. The stock last closed at $350.54, which puts the model's fair value 45.9% above the price. On the model's bands that reads as Undervalued.
Revalued . Price is the close of 5 Nov 2026. Affiliated Managers Group, Inc.
The report adds the live price, the chart against the range the options market prices and the analysts' consensus. No account needed.
This week, in three parts
What happenedThe run of 31 Oct 2026 held the fair value at $511.49, within 1% of the run of 24 Oct 2026.
What the model makes of itThe price of $350.54 is 45.9% below it: Undervalued, on a medium evidence grade.
What's nextNo report date on file. Options prices imply a move of about 11% either way over the next month. On the model's Scorecard Leaders list since 28 Oct 2026 (a strategy with a proving record). The next weekly run is on Saturday 7 Nov 2026.
What price range does the model give AMG?
The calibrated range for AMG over 63 trading days is $311.59 to $405.11. It sits around the last close, and its width comes from the volatility that AMG's own options imply (40% a year), calibrated weekly against realised prices (n = 6,661 past valuations, refreshed 31 Oct 2026). Ranges built this way held the price 60% of the time at this horizon. The fair value is the model's opinion and rides beside the range. It is not the centre of it.
The model's own simulated range, from the 20th to the 80th percentile of its runs, is $393.76 to $649.51. In 83% of the simulations the fair value came out above the price the model ran on.
Faircurve Insights · 31 Oct 2026
Affiliated Managers Group, Inc. (AMG) is an asset management firm. It uses its network of affiliates to provide comprehensive investment management solutions.
Faircurve's model gave a fair value of $511.49 a share on 31 Oct 2026, the midpoint of 2,000 simulations. The previous run, on 24 Oct 2026, gave $512.43, so the fair value moved -0.2%. The calibrated range over 63 trading days runs from $326.47 to $417.32. It is built around the price, using the volatility the stock's own options imply, and is calibrated weekly against realised prices from 6,661 past valuations. Ranges built this way held the price 60% of the time at this horizon. The model grades the evidence Medium. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It does not say whether the fair value is right.
The model's overall quality score for the company is 63 out of 100, a composite of six factors scored against comparable companies. Capital discipline stands out at 94, with net buybacks at 8.1% of market value against a peer median of 1.3%. The balance sheet scores 54, with net debt at 1.55x EBITDA against a peer median of 3.43x. Profitability scores 63, with ROIC at 8.5% against a peer median of 7.6%. The model compares the company with Invesco Ltd. (IVZ), SEI Investments Company (SEIC), Victory Capital Holdings, Inc. (VCTR), Equitable Holdings, Inc. (EQH) and Franklin Resources, Inc. (BEN).
Written from the figures on this page for the 31 Oct 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
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When does AMG report earnings, and how has the stock reacted?
Options prices on 5 Nov 2026 imply a move of about 7.6% in either direction through the nearest expiry, about 14 days out. That is the size the market is pricing, not a direction. AMG's 30 day implied volatility works out to about 11.4% over one month.
Around its last 8 reports: what the options market priced, and what followed
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across AMG's last 8 reports, ignoring direction, was 2.6%.
What the options market has priced for a month's move in AMG
How does AMG score on business quality?
Affiliated Managers Group's overall quality score is 63 out of 100. Each factor below is a score against comparable companies, not a percentile of the metric beside it.
| Factor | Score (0 to 100) | Headline measure | Peer median |
|---|---|---|---|
| ProfitabilityReturn on invested capital against the peer group, with a bonus for an improving trend. | 63 | 8.5%ROIC | 7.6% |
| Earnings qualityHow much of reported profit is cash: free cash flow to net income, and the accrual ratio (the share of earnings that is not cash). | 65 | 1.28xFCF / net income | 1.20x |
| Growth qualityTrailing revenue growth, forward growth from consensus, and the direction of analysts' rating changes. | 53 | 19.8%Revenue growth, trailing | 19.2% |
| Capital disciplineReinvestment efficiency (capital spending per unit of revenue) and net buybacks. | 94 | 8.1%Net buybacks / market value | 1.3% |
| Balance sheetNet debt to EBITDA and interest coverage. | 54 | 1.55xNet debt / EBITDA | 3.43x |
| StabilityDownside volatility of the EBITDA margin over the last five years. | 63 | 5.6 ptsEBITDA margin downside volatility, 5y | 8.3 pts |
How does AMG compare with similar companies?
The companies in asset management closest to Affiliated Managers Group in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| IVZ Invesco Ltd. | $27.08 | $31.81 | +17.5% | Undervalued |
| SEIC SEI Investments Company | $105.18 | $102.42 | -2.6% | Fairly valued |
| VCTR Victory Capital Holdings, Inc. | $112.41 | $134.30 | +19.5% | Undervalued |
| CG The Carlyle Group Inc. | $39.96 | $33.13 | -17.1% | Low evidence grade |
| EQH Equitable Holdings, Inc. | $52.91 | $63.09 | +19.2% | Undervalued |
| BEN Franklin Resources, Inc. | $32.21 | $28.83 | -10.5% | Fairly valued |
| STEP StepStone Group Inc. | $42.81 | $38.68 | -9.6% | Low evidence grade |
| HASI HA Sustainable Infrastructure Capital, Inc. | $39.68 | $37.11 | -6.5% | Low evidence grade |
What the comparable companies' multiples alone would give for AMG, the peer-implied price, is $937.86 a share on this run. The fair value weighs that against the company's own multiple.
Affiliated Managers Group at a glance
Affiliated Managers Group, Inc. (AMG) functions as an asset management firm, leveraging its network of affiliates to provide comprehensive investment management solutions.
- Market value
- $9.9B
- Sector
- Financial Services
- Industry
- Asset Management
- Revenue expected, next twelve months
- $2.7B
- Consensus revenue growth, next fiscal year
- +1.7%
- Analysts with estimates
- 5
- Beta to the US market
- 0.87
- First valued by Faircurve
- 11 Jul 2026
At the close of 5 Nov 2026, 56.0% of the 1,065 graded US stocks the model covers traded below the model's fair value. AMG was among them.
How the fair value is worked out: the model prices Affiliated Managers Group on the value of the whole business, debt included, against the operating profit analysts expect next year (forward EV/EBITDA), runs 2,000 simulations across its inputs and takes the midpoint. The full method is documented here.
What changed in the latest valuation?
On 24 Oct 2026 the model's fair value for AMG was $512.43. As of 31 Oct 2026 it is $511.49, a change of -0.2%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about Affiliated Managers Group's valuation
Is Affiliated Managers Group stock undervalued or overvalued?
On Faircurve's model, AMG reads as Undervalued as of 31 Oct 2026. The model's fair value is $511.49 a share against a last close of $350.54, a gap of +45.9%.
What is AMG's fair value?
$511.49 a share as of 31 Oct 2026, the midpoint of 2,000 simulations. The model's own 20th to 80th percentile range is $393.76 to $649.51.
What price range does the model give AMG?
$311.59 to $405.11 over 63 trading days. Ranges built this way held the price 60% of the time across 6,661 past valuations, refreshed 31 Oct 2026.
How much has AMG moved on past earnings reports?
Across its last 8 reports the median two session move was 2.6%, ignoring direction. The largest was -8.3% around the report of 4 Nov 2024.
How confident is the model in this valuation?
The model's evidence grade for AMG is medium. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It is not a probability that the fair value is right, or that the price reaches it.
The model's own ideas on AMG
The model has an idea open on AMG under Scorecard Leaders since 28 Oct 2026, a strategy with a proving record. Signed-in readers see the rule each idea runs on, the floor and the exit level the model set and its time limit, and the model's closed ideas on AMG with their outcomes. A free account is enough.