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Affiliated Managers GroupFRA:AFS +0.66%85 EV-to-EBITDA is 8.82 as of Jul. 27, 2026, which is at its 10-year median of 8.82. GuruFocus rates FRA:AFS with a GF Score™ of 85/100 and a GF Value™ of €213.84 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 509 Asset Management companies, Affiliated Managers Group ranks worse than 50.1% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Affiliated Managers Group's enterprise value is €11,571 Mil.
Affiliated Managers Group's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was €1,311 Mil. Therefore, Affiliated Managers Group's EV-to-EBITDA for today is 8.82.
The historical rank and industry rank for Affiliated Managers Group's EV-to-EBITDA or its related term are showing as below:
FRA:AFS'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 3.78 Med: 8.82 Max: 19.96
Current: 8.61
During the past 13 years, the highest EV-to-EBITDA of Affiliated Managers Group was 19.96. The lowest was 3.78. And the median was 8.82.
FRA:AFS's EV-to-EBITDA is ranked worse than 50.1% of 509
companies
in the Asset Management industry
Industry Median: 8.61
vs FRA:AFS: 8.61
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
Affiliated Managers Group (FRA:AFS) EV-to-EBITDA Explanation
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Affiliated Managers Group's PE Ratio (TTM) for today is calculated as:
Affiliated Managers Group's share price for today is €316.00.
Affiliated Managers Group's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €21.176.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
* 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.
FRA:AFS vs MAAS, PDI, SEIC: EV-to-EBITDA Comparison
For the Asset Management subindustry, Affiliated Managers Group's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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 EV-to-EBITDA vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Affiliated Managers Group's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Affiliated Managers Group's EV-to-EBITDA falls into.
Affiliated Managers Group's current Enterprise Value is €11,571 Mil.
Affiliated Managers Group's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €1,311 Mil.
* 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.
Affiliated Managers Group (FRA:AFS) has a EV-to-EBITDA of 8.82 as of Jul. 27, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Affiliated Managers Group. This is near median its historical median of 8.82. Over the past decade, Affiliated Managers Group's EV-to-EBITDA has ranged from 3.78 to 19.96. According to the industry distribution chart, Affiliated Managers Group ranks #255 out of 509 companies in the Asset Management industry, placing it in the top 50.1%.
Is Affiliated Managers Group's EV-to-EBITDA too high?
Affiliated Managers Group's current EV-to-EBITDA of 8.82 is near median its 10-year median of 8.82. Over the past 10 years, this metric has ranged from a low of 3.78 to a high of 19.96. The Asset Management industry median EV-to-EBITDA is 8.61. Affiliated Managers Group's value of 8.82 is 2.4% above this industry median. Based on the distribution chart, Affiliated Managers Group ranks #255 out of 509 companies in the Asset Management industry, which is below the industry midpoint. Overall, Affiliated Managers Group has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Affiliated Managers Group's EV-to-EBITDA compare to MAAS and PDI?
According to the Asset Management industry distribution chart, Affiliated Managers Group ranks #255 out of 509 companies for EV-to-EBITDA. This places Affiliated Managers Group in the lower half of its industry. The industry median EV-to-EBITDA is 8.61. Affiliated Managers Group's value of 8.82 is 2.4% above this benchmark. Historically, Affiliated Managers Group's own EV-to-EBITDA has ranged from 3.78 to 19.96 over the past decade. While the company's 10-year median is 8.82 vs. the industry median of 8.61, Affiliated Managers Group has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for an Asset Management company?
The median EV-to-EBITDA among Asset Management companies is 8.61, based on 509 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Affiliated Managers Group's current EV-to-EBITDA of 8.82 is 2.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Affiliated Managers Group. For the Asset Management industry, the median EV-to-EBITDA is 8.61 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Affiliated Managers Group's current EV-to-EBITDA is 8.82, which is near median its own 10-year median of 8.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Affiliated Managers Group stock overvalued right now?
Based on GuruFocus' analysis, Affiliated Managers Group (FRA:AFS) is currently considered Significantly Overvalued. The stock's GF Value™ is €213.84, compared to a current price of €316.00 — trading 47.8% above its estimated fair value. The current EV-to-EBITDA is 8.82, which is near median its 10-year median of 8.82 and 2.4% above the Asset Management industry median of 8.61. Affiliated Managers Group's overall GF Score™ is 85/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Affiliated Managers Group (FRA:AFS), the current EV-to-EBITDA is 8.82 as of Jul. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Affiliated Managers Group (FRA:AFS) Overvalued in 2026?
Based on GuruFocus' analysis, Affiliated Managers Group stock appears to be overvalued.
The current stock price of €316.00 is trading 47.8% above its estimated GF Value™ of €213.84.
GuruFocus considers Affiliated Managers Group to be Significantly Overvalued.
Key valuation signals for FRA:AFS:
EV-to-EBITDA: 8.82 (near median its 10-year median of 8.82)
GF Value™: €213.84 vs. price of €316.00 (47.8% above fair value)
Industry Position: 2.4% above the Asset Management median (#255 of 509)
No single metric tells the full story. See the FRA:AFS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Affiliated Managers Group offers investment strategies to investors through its network of affiliates. The firm typically buys a majority interest in small to mid-size 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 December 2025, AMG's affiliate network—which includes firms like Abacus Capital and Pantheon dedicated to private markets (which accounted for 18% of AUM), AQR Capital and Capula Investment Management in liquid alternatives (28%), and Harding Loevner, Tweedy Browne, Parnassus, and Yacktman in equities, multi-asset, and bond strategies (54%)—had $813.3 billion in managed assets.
85GF Score
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