Affiliated Managers GroupFRA:AFS +1.31%81 ROE % is 14.05% as of Mar. 2026, which is 16% below its 10-year median of 16.65. 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 1,614 Asset Management companies, Affiliated Managers Group ranks better than 86.12% on this metric.
The historical rank and industry rank for Affiliated Managers Group's ROE % or its related term are showing as below:
FRA:AFS'
s ROE % Range Over the Past 10 Years
Min: 0.49 Med: 16.65 Max: 38.09
Current: 23.44
During the past 13 years, Affiliated Managers Group's highest ROE % was 38.09%. The lowest was 0.49%. And the median was 16.65%.
FRA:AFS's ROE % is ranked better than 86.12% of 1614
companies
in the Asset Management industry
Industry Median: 6.36
vs FRA:AFS: 23.44
Affiliated Managers Group (FRA:AFS) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
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. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
* 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 ROE %, along with its competitors' market caps and ROE % 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 ROE % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Affiliated Managers Group's ROE % distribution charts can be found below:
* The bar in red indicates where Affiliated Managers Group's ROE % 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 ROE %, the net income of the last fiscal year and the average total shareholder equity 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.
ROE % is displayed in the 30-year financial page.
Affiliated Managers Group (FRA:AFS) has a ROE % of 14.05% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Affiliated Managers Group and its competitors. This is 16% below median its historical median of 16.65. Over the past decade, Affiliated Managers Group's ROE % has ranged from 0.49 to 38.09. According to the industry distribution chart, Affiliated Managers Group ranks #224 out of 1614 companies in the Asset Management industry, placing it in the top 13.9%.
Is Affiliated Managers Group's ROE % too high?
Affiliated Managers Group's current ROE % of 14.05% is 16% below median its 10-year median of 16.65. Over the past 10 years, this metric has ranged from a low of 0.49 to a high of 38.09. The Asset Management industry median ROE % is 6.36. Affiliated Managers Group's value of 14.05% is 120.9% above this industry median. Based on the distribution chart, Affiliated Managers Group ranks #224 out of 1614 companies in the Asset Management industry, which is in the top quartile — a strong position 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 ROE % compare to JHG and PDI?
According to the Asset Management industry distribution chart, Affiliated Managers Group ranks #224 out of 1614 companies for ROE %. This places Affiliated Managers Group in the top 14% of its industry — outperforming the majority of peers. The industry median ROE % is 6.36. Affiliated Managers Group's value of 14.05% is 120.9% above this benchmark. Historically, Affiliated Managers Group's own ROE % has ranged from 0.49 to 38.09 over the past decade. While the company's 10-year median is 16.65 vs. the industry median of 6.36, 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 ROE % for an Asset Management company?
The median ROE % among Asset Management companies is 6.36, based on 1,614 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Affiliated Managers Group's current ROE % of 14.05% is 120.9% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Affiliated Managers Group and its competitors. For the Asset Management industry, the median ROE % is 6.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Affiliated Managers Group's current ROE % is 14.05%, which is 16% below median its own 10-year median of 16.65. 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 ROE % is 14.05%, which is 16% below median its 10-year median of 16.65 and 120.9% above the Asset Management industry median of 6.36. 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 ROE % calculated?
ROE % is calculated from a company's financial statements. For Affiliated Managers Group (FRA:AFS), the current ROE % is 14.05% 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:
ROE %: 14.05% (16% below median its 10-year median of 16.65)
GF Value™: €215.59 vs. price of €310.00 (43.8% above fair value)
Industry Position: 120.9% above the Asset Management median (#224 of 1614)
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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