Affiliated Managers Group (Affiliated Managers Group) EBIT : $1,255 Mil (TTM As of Dec. 2023)

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What is Affiliated Managers Group EBIT?

Affiliated Managers Group's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $306 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $1,255 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Affiliated Managers Group's annualized ROC % for the quarter that ended in Dec. 2023 was 7.66%. Affiliated Managers Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 1,864.23%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Affiliated Managers Group's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 19.42%.

Affiliated Managers Group EBIT Historical Data

The historical data trend for Affiliated Managers Group's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Affiliated Managers Group EBIT Chart

Affiliated Managers Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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384.20

600.70

1,252.50

1,860.80

1,215.20

Affiliated Managers Group Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															1,088.60	303.50	251.10	394.80	305.50

Competitive Comparison of Affiliated Managers Group's EBIT

For the Asset Management subindustry, Affiliated Managers Group's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Affiliated Managers Group's EV-to-EBIT Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Affiliated Managers Group's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Affiliated Managers Group's EV-to-EBIT falls into.

Affiliated Managers Group EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,255 Mil.

Affiliated Managers Group (NYSE:AMG) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Affiliated Managers Group's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	638 * ( 1 - 10.91% )	/	( (7113.2	+	7725.9)	/ 2 )
=	568.3942	/	7419.55
=	7.66 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	9003.6	-	636.2	-	( 1461.5	-	max(0, 636.2	-	1890.4	+	1461.5	))
=	7113.2

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	9059.6	-	319.2	-	( 1274.6	-	max(0, 628.5	-	1643	+	1274.6	))
=	7725.9

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Affiliated Managers Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1222	/	( ( (63.8 + max(-207.3, 0))	+	(67.3 + max(-260.1, 0)) )	/	2 )
=	1222	/	( ( 63.8	+	67.3 )	/	2 )
=	1222	/	65.55
=	1,864.23 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(428.9	+	0	+	0)	-	(636.2	+	0	+	0)
=	-207.3

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(368.4	+	0	+	0)	-	(319.2	+	0	+	309.3)
=	-260.1

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Affiliated Managers Group's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	1254.9	/	6462.423
	=	19.42 %

Affiliated Managers Group EBIT Related Terms

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Affiliated Managers Group (Affiliated Managers Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Affiliated Managers Group Inc (NYSE:AMG) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

777 South Flagler Drive, West Palm Beach, FL, USA, 33401

Website

https://www.amg.com

Affiliated Managers Group offers investment strategies to investors through its network of affiliates. The firm typically buys a majority interest in small to midsize boutique asset managers, receiving a fixed percentage of revenue from these firms in return. Affiliates operate independently, with AMG providing strategic, operational, and technology support, as well as global distribution. At the end of September 2023, AMG's affiliate network—which includes firms like AQR Capital Management, and Pantheon in alternative assets and other products (which accounted for 36% of AUM), Artemis, Genesis, Harding Loevner, and Tweedy Browne in global and emerging-market equities (27%) and Frontier, River Road, Parnassus, and Yacktman in U.S. equities (21%)—had $635.8 billion in managed assets.

Executives

Loren M Starr	director
Reuben Iii Jeffery	director	C/O AFFILIATED MANAGERS GROUP, INC., 777 SOUTH FLAGLER DR., STE. 1401 E TOWER, WEST PALM BEACH FL 33401
Tracy P. Palandjian	director	SOCIAL FINANCE, INC., 200 STATE STREET, 14TH FLOOR, BOSTON MA 02109
John R Erickson	officer: Head of Affiliate Engagement	C/O AFFILIATED MANAGERS GROUP, INC., 777 SOUTH FLAGLER DRIVE, WEST PALM BEACH FL 33401
Rizwan M Jamal	officer: Head of Affiliate Investments	C/O AFFILIATED MANAGERS GROUP, INC., 777 SOUTH FLAGLER DRIVE, WEST PALM BEACH FL 33401
Jay C. Horgen	director, officer: President and CEO	AFFILIATED MANAGERS GROUP, INC., 777 S. FLAGLER DR., SUITE 1201 E. TOWER, WEST PALM BEACH FL 33401
Dwight D. Churchill	director	44 GAGE ROAD, BEDFORD NH 03110
David Christopher Ryan	director	C/O AFFILIATED MANAGERS GROUP, INC., 777 SOUTH FLAGLER DRIVE, WEST PALM BEACH FL 33401
Matos Rodriguez Felix V.	director	C/O AFFILIATED MANAGERS GROUP, INC., 777 SOUTH FLAGLER DRIVE, WEST PALM BEACH FL 33401
Tracy A Atkinson	director	MFS INVESTMENT MANAGEMENT, 500 BOYLSTON ST., BOSTON MA 02116
Hugh Cutler	officer: EVP, Global Distribution	C/O AFFILIATED MANAGERS GROUP, INC., 777 SOUTH FLAGLER DRIVE, WEST PALM BEACH FL 33401
Thomas M Wojcik	officer: Chief Financial Officer	C/O AFFILIATED MANAGERS GROUP, INC., 777 SOUTH FLAGLER DRIVE, WEST PALM BEACH FL 33401
Samuel T Byrne	director	CROSSHARBOR CAPITAL PARTNERS, ONE BOSTON PLACE, SUITE 2300, BOSTON MA 02108
Sean M Healey	director, officer: Executive Chairman	C/O AFFILIATED MANAGERS GROUP INC, 777 S. FLAGLER DR., SUITE 1201 E. TOWER, WEST PALM BEACH FL 33401
David M. Billings	officer: General Counsel and Secretary	C/O AFFILIATED MANAGERS GROUP, INC., 600 HALE ST., PO BOX 1000, PRIDES CROSSING MA 01965