MGR Q3 2018 Earnings Report — Affiliated Managers Group, Inc. Revenue & Financial Results | Market Cap Arena

Affiliated Managers Group, Inc.MGR

Q3 2018 Earnings

Reported November 1, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2018	Q2 2018	Q3 2017	QoQ Change	YoY Change
Revenue	$601M	$600M	$586M	0.2%	2.7%
Op. Income	$199M	$214M	$219M	-6.8%	-8.8%
Gross Margin	57.8%	59.8%	59.2%	-2.0pp	-1.4pp
Net Margin	20.8%	19.5%	21.4%	1.3pp	-0.6pp
EPS (Diluted)	$2.25	$2.16	$2.15	4.2%	4.7%
Free Cash Flow	$296M	$368M	$350M	-19.5%	-15.5%

Revenue Flow

Item	Amount
REVENUE	$601M
Cost of Revenue	$254M
GROSS PROFIT	$348M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$103M
Other Expenses	$0
Operating Expenses	$89M
Cost & Expenses	$342M
OPERATING INCOME	$199M
Interest Income	$0
Interest Expense	$20M
Other Income/Expenses	$6M
INCOME BEFORE TAX	$250M
Income Tax Expense	$49M
Net Income from Continuing Ops	$202M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$125M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$125M
D&A	$35M
EBIT	$199M
EBITDA	$235M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$601M
Cost of Revenue	$254M
GROSS PROFIT	$348M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$103M
Other Expenses	$0
Operating Expenses	$89M
Cost & Expenses	$342M
OPERATING INCOME	$199M
Interest Income	$0
Interest Expense	$20M
Other Income/Expenses	$6M
INCOME BEFORE TAX	$250M
Income Tax Expense	$49M
Net Income from Continuing Ops	$202M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$125M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$125M
D&A	$35M
EBIT	$199M
EBITDA	$235M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$125M
Depreciation & Amortization	$35M
Stock-Based Compensation	$28M
Deferred Income Tax	$0
Other Non-Cash Items	$136M
Change in Working Capital	-$25M
OPERATING CASH FLOW	$299M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$8M
NET CASH FROM INVESTING	$5M
Net Debt Issuance	-$37M
Common Stock Repurchased	-$98M
Common Dividends Paid	-$16M
Other Financing Activities	-$95M
NET CASH FROM FINANCING	-$246M
FREE CASH FLOW	$296M
Net Change in Cash	$55M

Balance Sheet

Item	Amount
Cash & Equivalents	$448M
Short-Term Investments	$144M
Net Receivables	$525M
Inventory	$0
Other Current Assets	$19M
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$105M
Goodwill	$2.6B
Intangible Assets	$1.4B
Long-Term Investments	$3.3B
Tax Assets	$479M
Other Non-Current Assets	-$479M
TOTAL NON-CURRENT ASSETS	$7.4B
TOTAL ASSETS	$8.5B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$5M
TOTAL CURRENT LIABILITIES	$5M
Long-Term Debt	$1.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$3.2B
TOTAL LIABILITIES	$3.2B
Common Stock	$600.0K
Additional Paid-In Capital	$708M
Retained Earnings	$4.0B
Treasury Stock	-$1.1B
Accum. Other Comp. Income	-$60M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.6B
Minority Interest	$1.7B
TOTAL EQUITY	$5.3B
TOTAL LIABILITIES & EQUITY	$8.5B
Total Debt	$1.8B
Net Debt	$1.4B