Affiliated Managers Group vs Blue Owl Capital
Add, change or remove companies; up to four.
KIRA’s take AI analyst
I put Affiliated Managers Group and Blue Owl Capital side by side, using each one’s latest annual report. Here is what stands out:
- Blue Owl Capital is the larger business, with $2.9B of revenue in fiscal 2025 against $2.1B for Affiliated Managers Group.
- Blue Owl Capital grew revenue faster (25.0%, against 1.6%).
- Affiliated Managers Group turned more of its sales into free cash flow (46.6% FCF margin, against 41.8%).
- Affiliated Managers Group earned a higher return on the capital invested in it (16.5%, against 5.2%).
- Investors pay more for each dollar of Blue Owl Capital’s earnings: a P/E of 77.8x against 13.7x for Affiliated Managers Group.
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
Affiliated Managers Group
AMG
5/7
Net marginFCF marginReturn on capitalReturn on equityShare count change
Blue Owl Capital
OWL
2/7
Revenue growth5-year growth
Side by side
Best in the row
| Latest fiscal year | AMG FY25 | OWL FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.5B | $6.4B |
| Revenue | $2.1B | $2.9B |
| Free cash flow | $967M | $1.2B |
| Net income | $717M | $78.8M |
| Growth | ||
| Revenue growth | 1.6% | 25.0% |
| 5-year growth | 0.5% | 63.0% |
| Share count change | −8.6% | 18.5% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 34.5% | 2.8% |
| FCF margin | 46.6% | 41.8% |
| Return on capital | 16.5% | 5.2% |
| Return on equity | 21.8% | 3.6% |
| Balance sheet | ||
| Net debt | $2.1B | $3.1B |
| Net debt / EBITDA | — | 3.5x |
| Dividends and buybacks | $707M | $600M |
| Valuation & quality | ||
| P/E | 13.7x | 77.8x |
| Piotroski F-score | — | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.