AAMI FY 2023 Earnings Report — Acadian Asset Management Revenue & Financial Results | Market Cap Arena

Acadian Asset ManagementAAMI

FY 2023 Earnings

Reported December 31, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$427M	—	$417M	—	2.3%
Op. Income	$106M	—	$168M	—	-36.9%
Gross Margin	48.3%	—	61.7%	—	-13.5pp
Net Margin	15.4%	—	24.1%	—	-8.7pp
EPS (Diluted)	$1.55	—	$2.33	—	-33.5%
Free Cash Flow	$55M	—	$101M	—	-45.9%

Revenue Flow

Item	Amount
REVENUE	$427M
Cost of Revenue	$221M
GROSS PROFIT	$206M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$83M
SG&A Expenses	$83M
Other Expenses	$17M
Operating Expenses	$100M
Cost & Expenses	$321M
OPERATING INCOME	$106M
Interest Income	$6M
Interest Expense	$20M
Other Income/Expenses	-$10M
INCOME BEFORE TAX	$97M
Income Tax Expense	$29M
Net Income from Continuing Ops	$67M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$66M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$66M
D&A	$17M
EBIT	$116M
EBITDA	$133M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$427M
Cost of Revenue	$221M
GROSS PROFIT	$206M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$83M
SG&A Expenses	$83M
Other Expenses	$17M
Operating Expenses	$100M
Cost & Expenses	$321M
OPERATING INCOME	$106M
Interest Income	$6M
Interest Expense	$20M
Other Income/Expenses	-$10M
INCOME BEFORE TAX	$97M
Income Tax Expense	$29M
Net Income from Continuing Ops	$67M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$66M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$66M
D&A	$17M
EBIT	$116M
EBITDA	$133M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$66M
Depreciation & Amortization	$17M
Stock-Based Compensation	$0
Deferred Income Tax	-$6M
Other Non-Cash Items	$0
Change in Working Capital	-$9M
OPERATING CASH FLOW	$68M
Capital Expenditure	-$14M
Acquisitions (Net)	$0
Purchases of Investments	-$51M
Sales/Maturities of Investments	$8M
Other Investing Activities	$13M
NET CASH FROM INVESTING	-$44M
Net Debt Issuance	-$400.0K
Common Stock Repurchased	-$3M
Common Dividends Paid	-$2M
Other Financing Activities	$8M
NET CASH FROM FINANCING	$2M
FREE CASH FLOW	$55M
Net Change in Cash	$26M

Balance Sheet

Item	Amount
Cash & Equivalents	$147M
Short-Term Investments	$0
Net Receivables	$146M
Inventory	$0
Other Current Assets	$800.0K
TOTAL CURRENT ASSETS	$294M
PP&E (Net)	$101M
Goodwill	$20M
Intangible Assets	$0
Long-Term Investments	$99M
Tax Assets	$70M
Other Non-Current Assets	$28M
TOTAL NON-CURRENT ASSETS	$318M
TOTAL ASSETS	$611M
Account Payables	$9M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$42M
Long-Term Debt	$274M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$174M
TOTAL NON-CURRENT LIABILITIES	$520M
TOTAL LIABILITIES	$562M
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$47M
Treasury Stock	$0
Accum. Other Comp. Income	-$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$40M
Minority Interest	$9M
TOTAL EQUITY	$50M
TOTAL LIABILITIES & EQUITY	$611M
Total Debt	$346M
Net Debt	$200M