Affiliated Managers GroupFRA:AFS -1.29%81 PB Ratio is 3.03 as of Jun. 24, 2026, which is 66% above its 10-year median of 1.83. GuruFocus rates FRA:AFS with a GF Score™ of 81/100 and a GF Value™ of €215.59 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,606 Asset Management companies, Affiliated Managers Group ranks worse than 90.22% on this metric.
Affiliated Managers Group Inc stock PB Ratio (=3) is close to 10-year high of 3.15.
The historical rank and industry rank for Affiliated Managers Group's PB Ratio or its related term are showing as below:
FRA:AFS'
s PB Ratio Range Over the Past 10 Years
Min: 0.8 Med: 1.83 Max: 3.15
Current: 2.96
During the past 13 years, Affiliated Managers Group's highest PB Ratio was 3.15. The lowest was 0.80. And the median was 1.83.
FRA:AFS's PB Ratio is ranked worse than 90.22% of 1606
companies
in the Asset Management industry
Industry Median: 0.95
vs FRA:AFS: 2.96
During the past 12 months, Affiliated Managers Group's average Book Value Per Share Growth Rate was 5.30% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 10.00% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 14.90% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 8.00% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Affiliated Managers Group was 37.40% per year. The lowest was -18.60% per year. And the median was 11.10% per year.
Back to Basics: PB Ratio
Affiliated Managers Group (FRA:AFS) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Affiliated Managers Group PB Ratio Related Terms
Affiliated Managers Group PB Ratio 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 PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Affiliated Managers Group's PB Ratio distribution charts can be found below:
* The bar in red indicates where Affiliated Managers Group's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Affiliated Managers Group (FRA:AFS) has a PB Ratio of 3.03 as of Jun. 24, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Affiliated Managers Group and its competitors. This is 66% above median its historical median of 1.83. Over the past decade, Affiliated Managers Group's PB Ratio has ranged from 0.80 to 3.15. According to the industry distribution chart, Affiliated Managers Group ranks #1449 out of 1606 companies in the Asset Management industry, placing it in the top 90.2%.
Is Affiliated Managers Group's PB Ratio too high?
Affiliated Managers Group's current PB Ratio of 3.03 is 66% above median its 10-year median of 1.83. Over the past 10 years, this metric has ranged from a low of 0.80 to a high of 3.15. The Asset Management industry median PB Ratio is 0.95. Affiliated Managers Group's value of 3.03 is 218.9% above this industry median. Based on the distribution chart, Affiliated Managers Group ranks #1449 out of 1606 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Affiliated Managers Group has a GF Score™ of 81/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Affiliated Managers Group's PB Ratio compare to JHG and PDI?
According to the Asset Management industry distribution chart, Affiliated Managers Group ranks #1449 out of 1606 companies for PB Ratio. This places Affiliated Managers Group in the lower half of its industry. The industry median PB Ratio is 0.95. Affiliated Managers Group's value of 3.03 is 218.9% above this benchmark. Historically, Affiliated Managers Group's own PB Ratio has ranged from 0.80 to 3.15 over the past decade. While the company's 10-year median is 1.83 vs. the industry median of 0.95, 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 PB Ratio for an Asset Management company?
The median PB Ratio among Asset Management companies is 0.95, based on 1,606 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Affiliated Managers Group's current PB Ratio of 3.03 is 218.9% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Affiliated Managers Group and its competitors. For the Asset Management industry, the median PB Ratio is 0.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Affiliated Managers Group's current PB Ratio is 3.03, which is 66% above median its own 10-year median of 1.83. 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 €215.59, compared to a current price of €306.00 — trading 41.9% above its estimated fair value. The current PB Ratio is 3.03, which is 66% above median its 10-year median of 1.83 and 218.9% above the Asset Management industry median of 0.95. Affiliated Managers Group's overall GF Score™ is 81/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Affiliated Managers Group (FRA:AFS), the current PB Ratio is 3.03 as of Jun. 24, 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 €306.00 is trading 41.9% above its estimated GF Value™ of €215.59.
GuruFocus considers Affiliated Managers Group to be Significantly Overvalued.
Key valuation signals for FRA:AFS:
PB Ratio: 3.03 (66% above median its 10-year median of 1.83)
GF Value™: €215.59 vs. price of €306.00 (41.9% above fair value)
Industry Position: 218.9% above the Asset Management median (#1449 of 1606)
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.
81GF Score
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