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AFFILIATED MANAGERS GROUP, INC.（AMG）与晨星（MORN）财务数据对比。点击上方公司名可切换其他公司
晨星的季度营收约是AFFILIATED MANAGERS GROUP, INC.的1.2倍（$641.1M vs $556.6M），AFFILIATED MANAGERS GROUP, INC.净利率更高（62.4% vs 18.0%，领先44.5%），晨星同比增速更快（8.5% vs 6.2%），AFFILIATED MANAGERS GROUP, INC.自由现金流更多（$254.5M vs $161.3M），过去两年晨星的营收复合增速更高（8.7% vs 5.5%）
Affiliated Managers Group（简称AMG）是一家成立于1993年的美国金融服务企业，总部位于佛罗里达州西棕榈滩。公司股票在纽约证券交易所挂牌交易，代码为AMG，同时是标普400美国中型企业指数的成份股。
晨星（Morningstar, Inc.）是总部位于美国伊利诺伊州芝加哥的金融服务机构，由乔·曼苏托于1984年创立，面向全球提供全方位的投资研究、投资管理等专业服务，是全球颇具知名度的投资资讯服务提供商。
AMG vs MORN — 直观对比
营收规模更大
MORN
是对方的1.2倍
$556.6M
营收增速更快
MORN
高出2.3%
6.2%
净利率更高
AMG
高出44.5%
18.0%
自由现金流更多
AMG
多$93.2M
$161.3M
两年增速更快
MORN
近两年复合增速
5.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $556.6M | $641.1M |
| 净利润 | $347.5M | $115.1M |
| 毛利率 | — | 61.1% |
| 营业利润率 | 94.4% | 24.9% |
| 净利率 | 62.4% | 18.0% |
| 营收同比 | 6.2% | 8.5% |
| 净利润同比 | 114.2% | -1.5% |
| 每股收益（稀释后） | $10.87 | $2.79 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AMGMORN
| Q4 25 | $556.6M | $641.1M | ||
| Q3 25 | $528.0M | $617.4M | ||
| Q2 25 | $493.2M | $605.1M | ||
| Q1 25 | $496.6M | $581.9M | ||
| Q4 24 | $524.3M | $591.0M | ||
| Q3 24 | $516.4M | $569.4M | ||
| Q2 24 | $500.3M | $571.9M | ||
| Q1 24 | $499.9M | $542.8M |
净利润AMGMORN
| Q4 25 | $347.5M | $115.1M | ||
| Q3 25 | $212.4M | $91.6M | ||
| Q2 25 | $84.3M | $89.0M | ||
| Q1 25 | $72.4M | $78.5M | ||
| Q4 24 | $162.2M | $116.9M | ||
| Q3 24 | $123.6M | $119.7M | ||
| Q2 24 | $76.0M | $69.1M | ||
| Q1 24 | $149.8M | $64.2M |
毛利率AMGMORN
| Q4 25 | — | 61.1% | ||
| Q3 25 | — | 60.9% | ||
| Q2 25 | — | 61.9% | ||
| Q1 25 | — | 60.2% | ||
| Q4 24 | — | 60.7% | ||
| Q3 24 | — | 60.9% | ||
| Q2 24 | — | 61.1% | ||
| Q1 24 | — | 59.8% |
营业利润率AMGMORN
| Q4 25 | 94.4% | 24.9% | ||
| Q3 25 | 68.7% | 20.7% | ||
| Q2 25 | 34.8% | 20.7% | ||
| Q1 25 | 25.5% | 19.6% | ||
| Q4 24 | 52.2% | 28.5% | ||
| Q3 24 | 42.0% | 20.3% | ||
| Q2 24 | 35.6% | 19.0% | ||
| Q1 24 | 50.8% | 17.1% |
净利率AMGMORN
| Q4 25 | 62.4% | 18.0% | ||
| Q3 25 | 40.2% | 14.8% | ||
| Q2 25 | 17.1% | 14.7% | ||
| Q1 25 | 14.6% | 13.5% | ||
| Q4 24 | 30.9% | 19.8% | ||
| Q3 24 | 23.9% | 21.0% | ||
| Q2 24 | 15.2% | 12.1% | ||
| Q1 24 | 30.0% | 11.8% |
每股收益（稀释后）AMGMORN
| Q4 25 | $10.87 | $2.79 | ||
| Q3 25 | $6.87 | $2.17 | ||
| Q2 25 | $2.80 | $2.09 | ||
| Q1 25 | $2.20 | $1.82 | ||
| Q4 24 | $4.95 | $2.72 | ||
| Q3 24 | $3.78 | $2.77 | ||
| Q2 24 | $2.26 | $1.60 | ||
| Q1 24 | $4.14 | $1.49 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $586.0M | $528.7M |
| 总债务越低越好 | $2.7B | — |
| 股东权益账面价值 | $3.2B | $1.2B |
| 总资产 | $9.2B | $3.6B |
| 负债/权益比越低杠杆越低 | 0.83× | — |
8季度趋势，按日历期对齐
现金及短期投资AMGMORN
| Q4 25 | $586.0M | $528.7M | ||
| Q3 25 | $476.1M | $40.3M | ||
| Q2 25 | $361.0M | $38.1M | ||
| Q1 25 | $816.5M | $47.7M | ||
| Q4 24 | $950.0M | $551.0M | ||
| Q3 24 | $1.0B | $48.8M | ||
| Q2 24 | $865.5M | $48.0M | ||
| Q1 24 | $793.4M | $55.4M |
总债务AMGMORN
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.4B | $848.9M | ||
| Q2 25 | $2.6B | $838.8M | ||
| Q1 25 | $2.6B | $803.7M | ||
| Q4 24 | $2.6B | $698.6M | ||
| Q3 24 | $2.6B | $864.7M | ||
| Q2 24 | $2.5B | $899.6M | ||
| Q1 24 | $2.5B | $917.3M |
股东权益AMGMORN
| Q4 25 | $3.2B | $1.2B | ||
| Q3 25 | $3.3B | $1.5B | ||
| Q2 25 | $3.2B | $1.6B | ||
| Q1 25 | $3.2B | $1.6B | ||
| Q4 24 | $3.3B | $1.6B | ||
| Q3 24 | $3.3B | $1.6B | ||
| Q2 24 | $3.3B | $1.4B | ||
| Q1 24 | $3.6B | $1.4B |
总资产AMGMORN
| Q4 25 | $9.2B | $3.6B | ||
| Q3 25 | $8.9B | $3.6B | ||
| Q2 25 | $8.8B | $3.6B | ||
| Q1 25 | $8.7B | $3.6B | ||
| Q4 24 | $8.8B | $3.5B | ||
| Q3 24 | $8.9B | $3.6B | ||
| Q2 24 | $8.8B | $3.4B | ||
| Q1 24 | $9.0B | $3.4B |
负债/权益比AMGMORN
| Q4 25 | 0.83× | — | ||
| Q3 25 | 0.71× | 0.56× | ||
| Q2 25 | 0.81× | 0.52× | ||
| Q1 25 | 0.82× | 0.50× | ||
| Q4 24 | 0.78× | 0.43× | ||
| Q3 24 | 0.79× | 0.55× | ||
| Q2 24 | 0.76× | 0.63× | ||
| Q1 24 | 0.70× | 0.66× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $256.4M | $204.0M |
| 自由现金流经营现金流 - 资本支出 | $254.5M | $161.3M |
| 自由现金流率自由现金流/营收 | 45.7% | 25.2% |
| 资本支出强度资本支出/营收 | 0.3% | 6.7% |
| 现金转化率经营现金流/净利润 | 0.74× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $967.1M | $442.6M |
8季度趋势，按日历期对齐
经营现金流AMGMORN
| Q4 25 | $256.4M | $204.0M | ||
| Q3 25 | $277.1M | $195.7M | ||
| Q2 25 | $230.8M | $99.0M | ||
| Q1 25 | $208.9M | $91.0M | ||
| Q4 24 | $212.5M | $153.4M | ||
| Q3 24 | $265.2M | $191.9M | ||
| Q2 24 | $245.2M | $152.7M | ||
| Q1 24 | $209.2M | $93.6M |
自由现金流AMGMORN
| Q4 25 | $254.5M | $161.3M | ||
| Q3 25 | $275.9M | $160.1M | ||
| Q2 25 | $229.4M | $62.4M | ||
| Q1 25 | $207.3M | $58.8M | ||
| Q4 24 | $211.4M | $112.8M | ||
| Q3 24 | $264.5M | $155.8M | ||
| Q2 24 | $244.6M | $120.8M | ||
| Q1 24 | $208.2M | $59.5M |
自由现金流率AMGMORN
| Q4 25 | 45.7% | 25.2% | ||
| Q3 25 | 52.3% | 25.9% | ||
| Q2 25 | 46.5% | 10.3% | ||
| Q1 25 | 41.7% | 10.1% | ||
| Q4 24 | 40.3% | 19.1% | ||
| Q3 24 | 51.2% | 27.4% | ||
| Q2 24 | 48.9% | 21.1% | ||
| Q1 24 | 41.6% | 11.0% |
资本支出强度AMGMORN
| Q4 25 | 0.3% | 6.7% | ||
| Q3 25 | 0.2% | 5.8% | ||
| Q2 25 | 0.3% | 6.0% | ||
| Q1 25 | 0.3% | 5.5% | ||
| Q4 24 | 0.2% | 6.9% | ||
| Q3 24 | 0.1% | 6.3% | ||
| Q2 24 | 0.1% | 5.6% | ||
| Q1 24 | 0.2% | 6.3% |
现金转化率AMGMORN
| Q4 25 | 0.74× | 1.77× | ||
| Q3 25 | 1.30× | 2.14× | ||
| Q2 25 | 2.74× | 1.11× | ||
| Q1 25 | 2.89× | 1.16× | ||
| Q4 24 | 1.31× | 1.31× | ||
| Q3 24 | 2.15× | 1.60× | ||
| Q2 24 | 3.23× | 2.21× | ||
| Q1 24 | 1.40× | 1.46× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AMG
暂无分部数据
MORN
| Pitch Book Segment | $172.6M | 27% |
| Morningstar Credit Segment | $166.7M | 26% |
| Transaction Based | $113.1M | 18% |
| Asset Based | $90.2M | 14% |
| Morningstar Retirement Segment | $38.1M | 6% |
| Morningstar Sustainalytics | $27.8M | 4% |
| Morningstar Indexes | $22.5M | 4% |
| Morningstar Wealth Segment | $2.3M | 0% |
