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Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
As of Mar. 2026, Affiliated Managers Group has a Sloan Ratio of 1.02%, indicating the company is in the safe zone and there is no funny business with accruals.
Affiliated Managers Group (FRA:AFS) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Mar. 2026, Affiliated Managers Group has a Sloan Ratio of 1.02%, indicating the company is in the safe zone and there is no funny business with accruals.
Affiliated Managers Group Sloan Ratio % Related Terms
Affiliated Managers Group Sloan 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.
FRA:AFS vs MAAS, PDI, SEIC: Sloan Ratio % Comparison
For the Asset Management subindustry, Affiliated Managers Group's Sloan Ratio %, along with its competitors' market caps and Sloan 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 Sloan Ratio % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Affiliated Managers Group's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Affiliated Managers Group's Sloan Ratio % falls into.
Affiliated Managers Group Sloan Ratio % Calculation
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Affiliated Managers Group's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Affiliated Managers Group's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 73.088 (Jun. 2025 ) + 180.965 (Sep. 2025 ) + 296.85 (Dec. 2025 ) + 95.496 (Mar. 2026 ) = €646 Mil.
Affiliated Managers Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 200.104 (Jun. 2025 ) + 236.089 (Sep. 2025 ) + 218.966 (Dec. 2025 ) + 258.894 (Mar. 2026 ) = €914 Mil.
Affiliated Managers Group's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -428.038 (Jun. 2025 ) + 230.636 (Sep. 2025 ) + 44.835 (Dec. 2025 ) + -198.085 (Mar. 2026 ) = €-351 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 Sloan Ratio % of 1.02% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Affiliated Managers Group and its competitors.
Is Affiliated Managers Group's Sloan Ratio % too high?
Affiliated Managers Group's current Sloan Ratio % is 1.02%. Overall, Affiliated Managers Group has a GF Score™ of 82/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Affiliated Managers Group's Sloan Ratio % compare to MAAS and PDI?
Affiliated Managers Group's Sloan Ratio % of 1.02% can be compared against companies in the Asset Management industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Sloan Ratio % for an Asset Management company?
A good Sloan Ratio % depends on the Asset Management industry context. However, Sloan Ratio % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Affiliated Managers Group and its competitors. Affiliated Managers Group's current Sloan Ratio % is 1.02%. 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 €217.50, compared to a current price of €318.00 — trading 46.2% above its estimated fair value. The current Sloan Ratio % is 1.02%. Affiliated Managers Group's overall GF Score™ is 82/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For Affiliated Managers Group (FRA:AFS), the current Sloan Ratio % is 1.02% 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 €318.00 is trading 46.2% above its estimated GF Value™ of €217.50.
GuruFocus considers Affiliated Managers Group to be Significantly Overvalued.
Key valuation signals for FRA:AFS:
Sloan Ratio %: 1.02%
GF Value™: €217.50 vs. price of €318.00 (46.2% above fair value)
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.
82GF Score
Get the complete analysis for FRA:AFS
Sloan Ratio % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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