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AFFILIATED MANAGERS GROUP, INC.（AMG）与罗塞塔石碑（STEP）财务数据对比。点击上方公司名可切换其他公司
罗塞塔石碑的季度营收约是AFFILIATED MANAGERS GROUP, INC.的1.1倍（$586.5M vs $556.6M），AFFILIATED MANAGERS GROUP, INC.净利率更高（62.4% vs -21.0%，领先83.5%），罗塞塔石碑同比增速更快（73.0% vs 6.2%），AFFILIATED MANAGERS GROUP, INC.自由现金流更多（$254.5M vs $26.7M），过去两年罗塞塔石碑的营收复合增速更高（28.2% 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。
罗塞塔石碑是美国教育科技软件企业，开发语言学习、读写能力提升及脑训练类软件，旗下语言学习产品知名度极高。2013年公司收购Livemocha、Lexia Learning等品牌拓展教育科技业务矩阵，2021年正式成为IXL Learning的子公司。
AMG vs STEP — 直观对比
营收规模更大
STEP
是对方的1.1倍
$556.6M
营收增速更快
STEP
高出66.8%
6.2%
净利率更高
AMG
高出83.5%
-21.0%
自由现金流更多
AMG
多$227.8M
$26.7M
两年增速更快
STEP
近两年复合增速
5.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $556.6M | $586.5M |
| 净利润 | $347.5M | $-123.5M |
| 毛利率 | — | — |
| 营业利润率 | 94.4% | -33.2% |
| 净利率 | 62.4% | -21.0% |
| 营收同比 | 6.2% | 73.0% |
| 净利润同比 | 114.2% | 35.7% |
| 每股收益（稀释后） | $10.87 | $-1.55 |
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AMGSTEP
| Q4 25 | $556.6M | $586.5M | ||
| Q3 25 | $528.0M | $454.2M | ||
| Q2 25 | $493.2M | $364.3M | ||
| Q1 25 | $496.6M | $377.7M | ||
| Q4 24 | $524.3M | $339.0M | ||
| Q3 24 | $516.4M | $271.7M | ||
| Q2 24 | $500.3M | $186.4M | ||
| Q1 24 | $499.9M | $356.8M |
净利润AMGSTEP
| Q4 25 | $347.5M | $-123.5M | ||
| Q3 25 | $212.4M | $-366.1M | ||
| Q2 25 | $84.3M | $-38.4M | ||
| Q1 25 | $72.4M | $-18.5M | ||
| Q4 24 | $162.2M | $-192.0M | ||
| Q3 24 | $123.6M | $17.6M | ||
| Q2 24 | $76.0M | $13.3M | ||
| Q1 24 | $149.8M | $30.8M |
营业利润率AMGSTEP
| Q4 25 | 94.4% | -33.2% | ||
| Q3 25 | 68.7% | -148.8% | ||
| Q2 25 | 34.8% | -5.6% | ||
| Q1 25 | 25.5% | 2.6% | ||
| Q4 24 | 52.2% | -101.7% | ||
| Q3 24 | 42.0% | 21.3% | ||
| Q2 24 | 35.6% | 29.4% | ||
| Q1 24 | 50.8% | 26.5% |
净利率AMGSTEP
| Q4 25 | 62.4% | -21.0% | ||
| Q3 25 | 40.2% | -80.6% | ||
| Q2 25 | 17.1% | -10.5% | ||
| Q1 25 | 14.6% | -4.9% | ||
| Q4 24 | 30.9% | -56.6% | ||
| Q3 24 | 23.9% | 6.5% | ||
| Q2 24 | 15.2% | 7.2% | ||
| Q1 24 | 30.0% | 8.6% |
每股收益（稀释后）AMGSTEP
| Q4 25 | $10.87 | $-1.55 | ||
| Q3 25 | $6.87 | $-4.66 | ||
| Q2 25 | $2.80 | $-0.49 | ||
| Q1 25 | $2.20 | $-0.37 | ||
| Q4 24 | $4.95 | $-2.61 | ||
| Q3 24 | $3.78 | $0.26 | ||
| Q2 24 | $2.26 | $0.20 | ||
| Q1 24 | $4.14 | $0.47 |
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 | — |
| 总债务越低越好 | $2.7B | $270.2M |
| 股东权益账面价值 | $3.2B | $-378.8M |
| 总资产 | $9.2B | $5.2B |
| 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AMGSTEP
| Q4 25 | $586.0M | — | ||
| Q3 25 | $476.1M | — | ||
| Q2 25 | $361.0M | — | ||
| Q1 25 | $816.5M | — | ||
| Q4 24 | $950.0M | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $865.5M | — | ||
| Q1 24 | $793.4M | — |
总债务AMGSTEP
| Q4 25 | $2.7B | $270.2M | ||
| Q3 25 | $2.4B | $269.9M | ||
| Q2 25 | $2.6B | $269.6M | ||
| Q1 25 | $2.6B | $269.3M | ||
| Q4 24 | $2.6B | $168.9M | ||
| Q3 24 | $2.6B | $172.3M | ||
| Q2 24 | $2.5B | $172.1M | ||
| Q1 24 | $2.5B | $148.8M |
股东权益AMGSTEP
| Q4 25 | $3.2B | $-378.8M | ||
| Q3 25 | $3.3B | $-233.5M | ||
| Q2 25 | $3.2B | $153.9M | ||
| Q1 25 | $3.2B | $179.4M | ||
| Q4 24 | $3.3B | $209.8M | ||
| Q3 24 | $3.3B | $397.5M | ||
| Q2 24 | $3.3B | $366.9M | ||
| Q1 24 | $3.6B | $324.5M |
总资产AMGSTEP
| Q4 25 | $9.2B | $5.2B | ||
| Q3 25 | $8.9B | $5.3B | ||
| Q2 25 | $8.8B | $4.8B | ||
| Q1 25 | $8.7B | $4.6B | ||
| Q4 24 | $8.8B | $4.3B | ||
| Q3 24 | $8.9B | $4.0B | ||
| Q2 24 | $8.8B | $3.8B | ||
| Q1 24 | $9.0B | $3.8B |
负债/权益比AMGSTEP
| Q4 25 | 0.83× | — | ||
| Q3 25 | 0.71× | — | ||
| Q2 25 | 0.81× | 1.75× | ||
| Q1 25 | 0.82× | 1.50× | ||
| Q4 24 | 0.78× | 0.81× | ||
| Q3 24 | 0.79× | 0.43× | ||
| Q2 24 | 0.76× | 0.47× | ||
| Q1 24 | 0.70× | 0.46× |
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 | $27.2M |
| 自由现金流经营现金流 - 资本支出 | $254.5M | $26.7M |
| 自由现金流率自由现金流/营收 | 45.7% | 4.6% |
| 资本支出强度资本支出/营收 | 0.3% | 0.1% |
| 现金转化率经营现金流/净利润 | 0.74× | — |
| 过去12个月自由现金流最近4个季度 | $967.1M | $18.6M |
8季度趋势，按日历期对齐
经营现金流AMGSTEP
| Q4 25 | $256.4M | $27.2M | ||
| Q3 25 | $277.1M | $16.2M | ||
| Q2 25 | $230.8M | $46.3M | ||
| Q1 25 | $208.9M | $-66.5M | ||
| Q4 24 | $212.5M | $27.6M | ||
| Q3 24 | $265.2M | $53.7M | ||
| Q2 24 | $245.2M | $50.2M | ||
| Q1 24 | $209.2M | $7.6M |
自由现金流AMGSTEP
| Q4 25 | $254.5M | $26.7M | ||
| Q3 25 | $275.9M | $15.9M | ||
| Q2 25 | $229.4M | $45.2M | ||
| Q1 25 | $207.3M | $-69.2M | ||
| Q4 24 | $211.4M | $27.0M | ||
| Q3 24 | $264.5M | $52.4M | ||
| Q2 24 | $244.6M | $49.6M | ||
| Q1 24 | $208.2M | $6.7M |
自由现金流率AMGSTEP
| Q4 25 | 45.7% | 4.6% | ||
| Q3 25 | 52.3% | 3.5% | ||
| Q2 25 | 46.5% | 12.4% | ||
| Q1 25 | 41.7% | -18.3% | ||
| Q4 24 | 40.3% | 8.0% | ||
| Q3 24 | 51.2% | 19.3% | ||
| Q2 24 | 48.9% | 26.6% | ||
| Q1 24 | 41.6% | 1.9% |
资本支出强度AMGSTEP
| Q4 25 | 0.3% | 0.1% | ||
| Q3 25 | 0.2% | 0.1% | ||
| Q2 25 | 0.3% | 0.3% | ||
| Q1 25 | 0.3% | 0.7% | ||
| Q4 24 | 0.2% | 0.2% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 0.1% | 0.3% | ||
| Q1 24 | 0.2% | 0.3% |
现金转化率AMGSTEP
| Q4 25 | 0.74× | — | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 2.74× | — | ||
| Q1 25 | 2.89× | — | ||
| Q4 24 | 1.31× | — | ||
| Q3 24 | 2.15× | 3.05× | ||
| Q2 24 | 3.23× | 3.76× | ||
| Q1 24 | 1.40× | 0.25× |
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
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
