Affiliated Managers GroupFRA:AFS 83 EV-to-FCF is 12.34 as of Jun. 29, 2026, which is 34% above its 10-year median of 9.23. GuruFocus rates FRA:AFS with a GF Score™ of 83/100 and a GF Value™ of €212.24 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 936 Asset Management companies, Affiliated Managers Group ranks better than 57.69% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Affiliated Managers Group's Enterprise Value is €11,189 Mil.
Affiliated Managers Group's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was €907 Mil. Therefore, Affiliated Managers Group's EV-to-FCF for today is 12.34.
The historical rank and industry rank for Affiliated Managers Group's EV-to-FCF or its related term are showing as below:
FRA:AFS'
s EV-to-FCF Range Over the Past 10 Years
Min: 5.04 Med: 9.23 Max: 14.57
Current: 12.07
During the past 13 years, the highest EV-to-FCF of Affiliated Managers Group was 14.57. The lowest was 5.04. And the median was 9.23.
FRA:AFS's EV-to-FCF is ranked better than 57.69% of 936
companies
in the Asset Management industry
Industry Median: 14.5
vs FRA:AFS: 12.07
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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 (FRA:AFS) EV-to-FCF Explanation
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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 €298.00.
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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Affiliated Managers Group EV-to-FCF Related Terms
Affiliated Managers Group EV-to-FCF Historical Data
* 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.
For the Asset Management subindustry, Affiliated Managers Group's EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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-FCF vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Affiliated Managers Group's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Affiliated Managers Group's EV-to-FCF falls into.
Affiliated Managers Group's current Enterprise Value is €11,189 Mil.
Affiliated Managers Group's Free Cash Flow 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 €907 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-FCF of 12.34 as of Jun. 29, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Affiliated Managers Group and its competitors. This is 34% above median its historical median of 9.23. Over the past decade, Affiliated Managers Group's EV-to-FCF has ranged from 5.04 to 14.57. According to the industry distribution chart, Affiliated Managers Group ranks #396 out of 936 companies in the Asset Management industry, placing it in the top 42.3%.
Is Affiliated Managers Group's EV-to-FCF too high?
Affiliated Managers Group's current EV-to-FCF of 12.34 is 34% above median its 10-year median of 9.23. Over the past 10 years, this metric has ranged from a low of 5.04 to a high of 14.57. The Asset Management industry median EV-to-FCF is 14.50. Affiliated Managers Group's value of 12.34 is 14.9% below this industry median. Based on the distribution chart, Affiliated Managers Group ranks #396 out of 936 companies in the Asset Management industry, which is above the industry midpoint. Overall, Affiliated Managers Group has a GF Score™ of 83/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Affiliated Managers Group's EV-to-FCF compare to JHG and PDI?
According to the Asset Management industry distribution chart, Affiliated Managers Group ranks #396 out of 936 companies for EV-to-FCF. This puts Affiliated Managers Group in the upper half of its industry. The industry median EV-to-FCF is 14.50. Affiliated Managers Group's value of 12.34 is 14.9% below this benchmark. Historically, Affiliated Managers Group's own EV-to-FCF has ranged from 5.04 to 14.57 over the past decade. While the company's 10-year median is 9.23 vs. the industry median of 14.50, Affiliated Managers Group has consistently been below 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-FCF for an Asset Management company?
The median EV-to-FCF among Asset Management companies is 14.50, based on 936 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Affiliated Managers Group's current EV-to-FCF of 12.34 is 14.9% below 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-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Affiliated Managers Group and its competitors. For the Asset Management industry, the median EV-to-FCF is 14.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Affiliated Managers Group's current EV-to-FCF is 12.34, which is 34% above median its own 10-year median of 9.23. 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 €212.24, compared to a current price of €298.00 — trading 40.4% above its estimated fair value. The current EV-to-FCF is 12.34, which is 34% above median its 10-year median of 9.23 and 14.9% below the Asset Management industry median of 14.50. Affiliated Managers Group's overall GF Score™ is 83/100 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-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Affiliated Managers Group (FRA:AFS), the current EV-to-FCF is 12.34 as of Jun. 29, 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 €298.00 is trading 40.4% above its estimated GF Value™ of €212.24.
GuruFocus considers Affiliated Managers Group to be Significantly Overvalued.
Key valuation signals for FRA:AFS:
EV-to-FCF: 12.34 (34% above median its 10-year median of 9.23)
GF Value™: €212.24 vs. price of €298.00 (40.4% above fair value)
Industry Position: 14.9% below the Asset Management median (#396 of 936)
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.
83GF Score
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