MGR FY 2022 Earnings Report — Affiliated Managers Group, Inc. Revenue & Financial Results | Market Cap Arena

Affiliated Managers Group, Inc.MGR

FY 2022 Earnings

Reported February 17, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$2.3B	—	$2.4B	—	-3.4%
Op. Income	$873M	—	$1.0B	—	-14.3%
Gross Margin	54.0%	—	56.6%	—	-2.6pp
Net Margin	49.2%	—	23.4%	—	25.7pp
EPS (Diluted)	$25.36	—	$13.04	—	94.5%
Free Cash Flow	$1.0B	—	$1.3B	—	-19.9%

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.1B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$386M
Operating Expenses	$386M
Cost & Expenses	$1.5B
OPERATING INCOME	$873M
Interest Income	$4M
Interest Expense	$114M
Other Income/Expenses	$874M
INCOME BEFORE TAX	$1.7B
Income Tax Expense	$358M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$67M
EBIT	$771M
EBITDA	$838M
EPS	$30
EPS Diluted	$25

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.1B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$386M
Operating Expenses	$386M
Cost & Expenses	$1.5B
OPERATING INCOME	$873M
Interest Income	$4M
Interest Expense	$114M
Other Income/Expenses	$874M
INCOME BEFORE TAX	$1.7B
Income Tax Expense	$358M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$67M
EBIT	$771M
EBITDA	$838M
EPS	$30
EPS Diluted	$25

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$67M
Stock-Based Compensation	$114M
Deferred Income Tax	$0
Other Non-Cash Items	-$401M
Change in Working Capital	$129M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	-$11M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$99M
NET CASH FROM INVESTING	-$110M
Net Debt Issuance	-$61M
Common Stock Repurchased	-$775M
Common Dividends Paid	-$2M
Other Financing Activities	-$565M
NET CASH FROM FINANCING	-$1.4B
FREE CASH FLOW	$1.0B
Net Change in Cash	-$479M

Balance Sheet

Item	Amount
Cash & Equivalents	$429M
Short-Term Investments	$717M
Net Receivables	$316M
Inventory	$0
Other Current Assets	$12M
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$69M
Goodwill	$2.6B
Intangible Assets	$1.9B
Long-Term Investments	$2.6B
Tax Assets	$8.9B
Other Non-Current Assets	-$8.6B
TOTAL NON-CURRENT ASSETS	$7.4B
TOTAL ASSETS	$8.9B
Account Payables	-$503M
Short-Term Debt	$39M
Deferred Revenue	$0
Other Current Liabilities	$689M
TOTAL CURRENT LIABILITIES	$603M
Long-Term Debt	$2.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.1B
TOTAL NON-CURRENT LIABILITIES	$3.6B
TOTAL LIABILITIES	$4.2B
Common Stock	$600.0K
Additional Paid-In Capital	$696M
Retained Earnings	$5.7B
Treasury Stock	-$3.0B
Accum. Other Comp. Income	$4.6B
Other Equity	-$10.6B
TOTAL STOCKHOLDERS' EQUITY	$3.2B
Minority Interest	$1.6B
TOTAL EQUITY	$4.6B
TOTAL LIABILITIES & EQUITY	$8.9B
Total Debt	$2.8B
Net Debt	-$176M