AAMI

Acadian Asset Management

Fundamental data last updated:April 13, 2026

company profile

SECTOR

Financial Services

industry

Asset Management

Exchange

NYSE

County of HQ

United States

Next Earnings Date

05/07/26

Business Summary

Acadian Asset Management generates revenue by managing institutional and retail assets, earning fees tied to assets under management and performance. The model is inherently scalable: incremental assets carry high contribution margins, reflected in the 132.00% operating margin figure. Its moat is rooted in quantitative investment processes, institutional relationships, and performance track records that create switching costs and sticky capital. Sustained ROIC of 21.10% suggests the firm converts advisory expertise into durable economic value, provided performance remains competitive.

VALUATION

P/E

28

Market Cap ($M USD)

$2,212

Forward P/E

11

PEG

1

PRICE TO SALES

4

PRICE TO BOOK

36.5

EV / EBITDA

13.1

5-Year Average P/E

DIVIDEND

Yield

0.20%

Annual Payout

$0.40

Payout Ratio

1.80%

Consecutive Years of Dividend Growth

0

5-Year Dividend Growth Rate

58.50%

Financial Health & Profitability

Earnings Per Share

$2.21

Next Year EPS Growth Estimate

$5.64

Next Year Revenue Growth Estimate

14.70%

Return on Equity (ROE)

132.00%

Operating Margin

23.40%

Debt-to-Equity

4.3

Piotroski F-Score

4

Altman Z-Score

3.9

Return on Invested Capital (ROIC)

21.10%%

Current Ratio

1.2

Quick Ratio

Gainseekers Quantitative Analysis

Summary

At 28x earnings with a Forward P/E of 11, the market is pricing in a sharp earnings reset while still assigning a premium to current profits — a classic transition setup. The spread between a 28 P/E and 11 Forward P/E implies significant forward earnings expansion, yet the PEG Forward of 1 suggests growth is merely fairly priced, not mispriced. An Altman Z-Score of 3.9 signals low near-term bankruptcy risk, reinforcing balance sheet stability, while a 21.10% ROIC shows real capital efficiency. This is not distressed, but it may be misunderstood: valuation compression plus improving forward earnings creates a potential GARP entry if execution holds.

AI Exposure / Tech Reliance

As an Asset Management firm within Financial Services, AAMI operates in a data-driven industry where AI integration into quantitative models and portfolio optimization can materially enhance alpha generation. Firms that adapt quickly to AI-driven analytics typically widen performance dispersion versus traditional managers. Its ability to leverage technology will directly influence asset flows and operating leverage.

The Bull Case

A 21.10% ROIC against a 23.40% Debt/Equity ratio is a compelling combination — strong capital returns without excessive leverage. The 132.00% operating margin is extraordinary and implies significant operating leverage embedded in the model, meaning incremental revenue could disproportionately expand earnings. The Forward P/E of 11 relative to a trailing P/E of 28 suggests the market expects a step-change in EPS to $2.21 next year, and if delivered, the stock is optically cheap on forward numbers. Institutional ownership at 55.67% provides a stability base, while a 4.3 TTM yield adds tangible shareholder return. For a GARP investor, this is a high-ROIC franchise potentially entering an earnings acceleration phase at a compressed forward multiple.

The Bear Case

The red flags are impossible to ignore. Short interest at 58.50% of float is extreme and signals sophisticated skepticism about earnings quality or sustainability. A Price/Book of 36.5 is rich for an asset manager, and the Piotroski F-Score of 4 is mediocre, indicating only average fundamental strength. The payout ratio listed at $0.40 alongside a 0.20% dividend per share figure creates capital allocation ambiguity, and with a PEG of 1, growth is not mispriced — it is simply fairly valued. If forward EPS of $2.21 fails to materialize, the compression from 28x earnings could turn into multiple contraction rather than expansion.

Market Sentiment & Smart Money

Short Interest %

7.40%

Analyst Consensus

3

Average Analyst Price Target

$55.67

Institutional Ownership %

101.50%

1-Year Beta

1.29

Insider Buying % (6 Mo)

2.00%%

Distance to 52-Week High

99.50%%

Distance to 52-Week Low

247.90%%