Affiliated Managers GroupFRA:AFS +1.31%81 ROA % is 4.78% as of Mar. 2026, which is 23% below its 10-year median of 6.24. 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 1,638 Asset Management companies, Affiliated Managers Group ranks better than 68.62% on this metric.
ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. Affiliated Managers Group's annualizedNet Income for the quarter that ended in Mar. 2026 was €382 Mil.
Affiliated Managers Group's average Total Assets over the quarter that ended in Mar. 2026 was €7,995 Mil. Therefore, Affiliated Managers Group's annualized ROA % for the quarter that ended in Mar. 2026 was 4.78%.
The historical rank and industry rank for Affiliated Managers Group's ROA % or its related term are showing as below:
FRA:AFS'
s ROA % Range Over the Past 10 Years
Min: 0.2 Med: 6.24 Max: 12.91
Current: 8.38
During the past 13 years, Affiliated Managers Group's highest ROA % was 12.91%. The lowest was 0.20%. And the median was 6.24%.
FRA:AFS's ROA % is ranked better than 68.62% of 1638
companies
in the Asset Management industry
Industry Median: 3.95
vs FRA:AFS: 8.38
Affiliated Managers Group (FRA:AFS) ROA % Explanation
ROA % measures the rate of return on the total assets (shareholder equity plus liabilities). It measures a firm's efficiency at generating profits from shareholders' equity plus its liabilities. ROA % shows how well a company uses what it has to generate earnings. ROA %s can vary drastically across industries. Therefore, ROA % should not be used to compare companies in different industries. For retailers, a ROA % of higher than 5% is expected. For example, Wal-Mart (WMT) has a ROA % of about 8% as of 2012. For banks, ROA % is close to their interest spread. A banks ROA % is typically well under 2%.
Similar to ROE, ROA % is affected by profit margins and asset turnover. This can be seen from the Du Pont Formula:
Note:
The Net Income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue 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.
Be Aware
Like ROE, ROA % is calculated with only 12 months data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. ROA % can be affected by events such as stock buyback or issuance, and by goodwill, a company's tax rate and its interest payment. ROA % may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high ROA % may indicate vulnerability in the durability of the competitive advantage.
E.g. Raising $43b to take on KO is impossible, but $1.7b to take on Moody's is. Although Moody's ROA % and underlying economics is far superior to Coca Cola, the durability is far weaker because of lower entry cost.
* 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 ROA %, along with its competitors' market caps and ROA % 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 ROA % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Affiliated Managers Group's ROA % distribution charts can be found below:
* The bar in red indicates where Affiliated Managers Group's ROA % falls into.
* 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.
In the calculation of annual ROA %, the net income of the last fiscal year and the average total assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
ROA % is displayed in the 30-year financial page.
Affiliated Managers Group (FRA:AFS) has a ROA % of 4.78% as of Mar. 2026. Return on assets is the ratio of current-period net income to average two-period total assets. View historical data on Affiliated Managers Group and its competitors. This is 23% below median its historical median of 6.24. Over the past decade, Affiliated Managers Group's ROA % has ranged from 0.20 to 12.91. According to the industry distribution chart, Affiliated Managers Group ranks #514 out of 1638 companies in the Asset Management industry, placing it in the top 31.4%.
Is Affiliated Managers Group's ROA % too high?
Affiliated Managers Group's current ROA % of 4.78% is 23% below median its 10-year median of 6.24. Over the past 10 years, this metric has ranged from a low of 0.20 to a high of 12.91. The Asset Management industry median ROA % is 3.95. Affiliated Managers Group's value of 4.78% is 21% above this industry median. Based on the distribution chart, Affiliated Managers Group ranks #514 out of 1638 companies in the Asset Management industry, which is above the industry midpoint. 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 ROA % compare to JHG and PDI?
According to the Asset Management industry distribution chart, Affiliated Managers Group ranks #514 out of 1638 companies for ROA %. This puts Affiliated Managers Group in the upper half of its industry. The industry median ROA % is 3.95. Affiliated Managers Group's value of 4.78% is 21% above this benchmark. Historically, Affiliated Managers Group's own ROA % has ranged from 0.20 to 12.91 over the past decade. While the company's 10-year median is 6.24 vs. the industry median of 3.95, 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 ROA % for an Asset Management company?
The median ROA % among Asset Management companies is 3.95, based on 1,638 companies in the industry. Companies in the top quartile (top 25%) have a ROA % significantly above this median, while those in the bottom quartile fall well below. However, ROA % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Affiliated Managers Group's current ROA % of 4.78% is 21% 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 ROA % mean?
A high ROA % can signal that a stock is expensive relative to its fundamentals. Return on assets is the ratio of current-period net income to average two-period total assets. View historical data on Affiliated Managers Group and its competitors. For the Asset Management industry, the median ROA % is 3.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Affiliated Managers Group's current ROA % is 4.78%, which is 23% below median its own 10-year median of 6.24. 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 €310.00 — trading 43.8% above its estimated fair value. The current ROA % is 4.78%, which is 23% below median its 10-year median of 6.24 and 21% above the Asset Management industry median of 3.95. 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 ROA % calculated?
ROA % is calculated from a company's financial statements. For Affiliated Managers Group (FRA:AFS), the current ROA % is 4.78% as of Mar. 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 €310.00 is trading 43.8% above its estimated GF Value™ of €215.59.
GuruFocus considers Affiliated Managers Group to be Significantly Overvalued.
Key valuation signals for FRA:AFS:
ROA %: 4.78% (23% below median its 10-year median of 6.24)
GF Value™: €215.59 vs. price of €310.00 (43.8% above fair value)
Industry Position: 21% above the Asset Management median (#514 of 1638)
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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