Affiliated Managers Group
AMG · Asset Management & Custody Banks
$383.42
3.1%Hamilton Lane
HLNE · Asset Management & Custody Banks
$82.27
3.6%The short version
- Affiliated Managers Group is the larger business, with $2.1B of revenue in fiscal 2025 against $759M for Hamilton Lane, about 2.7 times as much.
- Hamilton Lane grew revenue faster (6.5%, against 1.6%).
- Hamilton Lane turned more of its sales into free cash flow (55.2% FCF margin, against 46.6% FCF margin).
- Hamilton Lane earned a higher return on the capital invested in it (34.5%, against 16.5%).
| Latest fiscal year | AMG · FY25 | HLNE · FY26 |
|---|---|---|
| Size | ||
| Market cap | $10.3B | — |
| Revenue | $2.1B | $759M |
| Free cash flow | $967M | $419M |
| Net income | $717M | $249M |
| Growth | ||
| Revenue growth | 1.6% | 6.5% |
| 5-year growth | 0.5% | 17.3% |
| Share count change | −8.6% | — |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 34.5% | 32.8% |
| FCF margin | 46.6% | 55.2% |
| Return on capital | 16.5% | 34.5% |
| Return on equity | 21.8% | 30.5% |
| Balance sheet | ||
| Net debt | $2.1B | −$93.5M |
| Net debt / EBITDA | — | −0.2x |
| Dividends and buybacks | $707M | $87.7M |
| Valuation & quality | ||
| P/E | 13.4x | — |
| Piotroski F-score | — | — |
FY17
AMG $2.3B
HLNE $180M
FY18
AMG $2.4B
HLNE $244M
FY19
AMG $2.2B
HLNE $252M
FY20
AMG $2.0B
HLNE $274M
FY21
AMG $2.4B
HLNE $342M
FY22
AMG $2.3B
HLNE $368M
FY23
AMG $2.1B
HLNE $529M
FY24
AMG $2.0B
HLNE $554M
FY25
AMG $2.1B
HLNE $713M
FY26
AMG —
HLNE $759M
AMG
HLNE
FY17
AMG 48.1%
HLNE —
FY18
AMG —
HLNE —
FY19
AMG —
HLNE —
FY20
AMG —
HLNE —
FY21
AMG —
HLNE —
FY22
AMG —
HLNE —
FY23
AMG —
HLNE —
FY24
AMG —
HLNE —
FY25
AMG —
HLNE —
FY26
AMG —
HLNE —
AMG
HLNE
FY17
AMG $1.2B
HLNE $80.4M
FY18
AMG $1.1B
HLNE $94.4M
FY19
AMG $920M
HLNE $106M
FY20
AMG $1.0B
HLNE $114M
FY21
AMG $1.3B
HLNE $170M
FY22
AMG $1.0B
HLNE $161M
FY23
AMG $862M
HLNE $222M
FY24
AMG $929M
HLNE $110M
FY25
AMG $967M
HLNE $289M
FY26
AMG —
HLNE $419M
AMG
HLNE
FY17
AMG 21.4%
HLNE —
FY18
AMG 11.5%
HLNE —
FY19
AMG 7.5%
HLNE —
FY20
AMG 10.8%
HLNE —
FY21
AMG 19.8%
HLNE 52.3%
FY22
AMG 25.6%
HLNE 53.0%
FY23
AMG 16.0%
HLNE 31.6%
FY24
AMG 13.9%
HLNE 33.2%
FY25
AMG 16.5%
HLNE 38.4%
FY26
AMG —
HLNE 34.5%
AMG
HLNE
Add another company
Compare up to four at once.
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.