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AFFILIATED MANAGERS GROUP, INC.（AMG）与德太投资（TPG）财务数据对比。点击上方公司名可切换其他公司
德太投资的季度营收约是AFFILIATED MANAGERS GROUP, INC.的1.3倍（$715.1M vs $556.6M）。AFFILIATED MANAGERS GROUP, INC.净利率更高（62.4% vs 10.8%，领先51.6%）。德太投资同比增速更快（35.6% vs 6.2%）。过去两年德太投资的营收复合增速更高（18.1% 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。
TPG Inc.（原称德州太平洋集团、TPG Capital）是总部位于美国得克萨斯州沃斯堡的私募股权投资机构，旗下管理的基金覆盖成长资本、风险投资、公开股权、债权投资等品类，投资领域包含消费零售、传媒电信、工业、科技、旅游休闲、医疗健康等多个赛道。
AMG vs TPG — 直观对比
营收规模更大
TPG
是对方的1.3倍
$556.6M
营收增速更快
TPG
高出29.5%
6.2%
净利率更高
AMG
高出51.6%
10.8%
两年增速更快
TPG
近两年复合增速
5.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $556.6M | $715.1M |
| 净利润 | $347.5M | $77.1M |
| 毛利率 | — | — |
| 营业利润率 | 94.4% | — |
| 净利率 | 62.4% | 10.8% |
| 营收同比 | 6.2% | 35.6% |
| 净利润同比 | 114.2% | 494.1% |
| 每股收益（稀释后） | $10.87 | $0.30 |
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AMGTPG
| Q4 25 | $556.6M | $715.1M | ||
| Q3 25 | $528.0M | $596.5M | ||
| Q2 25 | $493.2M | $569.1M | ||
| Q1 25 | $496.6M | $543.5M | ||
| Q4 24 | $524.3M | $527.2M | ||
| Q3 24 | $516.4M | $524.7M | ||
| Q2 24 | $500.3M | $522.8M | ||
| Q1 24 | $499.9M | $512.3M |
净利润AMGTPG
| Q4 25 | $347.5M | $77.1M | ||
| Q3 25 | $212.4M | $67.1M | ||
| Q2 25 | $84.3M | $14.9M | ||
| Q1 25 | $72.4M | $25.4M | ||
| Q4 24 | $162.2M | $13.0M | ||
| Q3 24 | $123.6M | $9.0M | ||
| Q2 24 | $76.0M | $-14.0M | ||
| Q1 24 | $149.8M | $15.5M |
营业利润率AMGTPG
| Q4 25 | 94.4% | — | ||
| Q3 25 | 68.7% | — | ||
| Q2 25 | 34.8% | — | ||
| Q1 25 | 25.5% | — | ||
| Q4 24 | 52.2% | — | ||
| Q3 24 | 42.0% | — | ||
| Q2 24 | 35.6% | — | ||
| Q1 24 | 50.8% | — |
净利率AMGTPG
| Q4 25 | 62.4% | 10.8% | ||
| Q3 25 | 40.2% | 11.3% | ||
| Q2 25 | 17.1% | 2.6% | ||
| Q1 25 | 14.6% | 4.7% | ||
| Q4 24 | 30.9% | 2.5% | ||
| Q3 24 | 23.9% | 1.7% | ||
| Q2 24 | 15.2% | -2.7% | ||
| Q1 24 | 30.0% | 3.0% |
每股收益（稀释后）AMGTPG
| Q4 25 | $10.87 | $0.30 | ||
| Q3 25 | $6.87 | $0.20 | ||
| Q2 25 | $2.80 | $-0.05 | ||
| Q1 25 | $2.20 | $0.00 | ||
| Q4 24 | $4.95 | $-0.04 | ||
| Q3 24 | $3.78 | $-0.08 | ||
| Q2 24 | $2.26 | $-0.19 | ||
| Q1 24 | $4.14 | $-0.11 |
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 | $826.1M |
| 总债务越低越好 | $2.7B | $1.7B |
| 股东权益账面价值 | $3.2B | $4.1B |
| 总资产 | $9.2B | $13.5B |
| 负债/权益比越低杠杆越低 | 0.83× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资AMGTPG
| Q4 25 | $586.0M | $826.1M | ||
| Q3 25 | $476.1M | $1.1B | ||
| Q2 25 | $361.0M | $1.1B | ||
| Q1 25 | $816.5M | $822.0M | ||
| Q4 24 | $950.0M | $808.0M | ||
| Q3 24 | $1.0B | $1.2B | ||
| Q2 24 | $865.5M | $1.1B | ||
| Q1 24 | $793.4M | $1.1B |
总债务AMGTPG
| Q4 25 | $2.7B | $1.7B | ||
| Q3 25 | $2.4B | $1.8B | ||
| Q2 25 | $2.6B | $1.6B | ||
| Q1 25 | $2.6B | $1.5B | ||
| Q4 24 | $2.6B | $1.3B | ||
| Q3 24 | $2.6B | $1.3B | ||
| Q2 24 | $2.5B | $1.2B | ||
| Q1 24 | $2.5B | $1.2B |
股东权益AMGTPG
| Q4 25 | $3.2B | $4.1B | ||
| Q3 25 | $3.3B | $3.8B | ||
| Q2 25 | $3.2B | $3.6B | ||
| Q1 25 | $3.2B | $3.5B | ||
| Q4 24 | $3.3B | $3.6B | ||
| Q3 24 | $3.3B | $3.4B | ||
| Q2 24 | $3.3B | $3.3B | ||
| Q1 24 | $3.6B | $3.3B |
总资产AMGTPG
| Q4 25 | $9.2B | $13.5B | ||
| Q3 25 | $8.9B | $13.0B | ||
| Q2 25 | $8.8B | $12.0B | ||
| Q1 25 | $8.7B | $11.3B | ||
| Q4 24 | $8.8B | $10.5B | ||
| Q3 24 | $8.9B | $10.5B | ||
| Q2 24 | $8.8B | $10.1B | ||
| Q1 24 | $9.0B | $9.9B |
负债/权益比AMGTPG
| Q4 25 | 0.83× | 0.42× | ||
| Q3 25 | 0.71× | 0.47× | ||
| Q2 25 | 0.81× | 0.45× | ||
| Q1 25 | 0.82× | 0.42× | ||
| Q4 24 | 0.78× | 0.36× | ||
| Q3 24 | 0.79× | 0.39× | ||
| Q2 24 | 0.76× | 0.37× | ||
| Q1 24 | 0.70× | 0.37× |
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 | $-43.7M |
| 自由现金流经营现金流 - 资本支出 | $254.5M | — |
| 自由现金流率自由现金流/营收 | 45.7% | — |
| 资本支出强度资本支出/营收 | 0.3% | — |
| 现金转化率经营现金流/净利润 | 0.74× | -0.57× |
| 过去12个月自由现金流最近4个季度 | $967.1M | — |
8季度趋势，按日历期对齐
经营现金流AMGTPG
| Q4 25 | $256.4M | $-43.7M | ||
| Q3 25 | $277.1M | $492.0M | ||
| Q2 25 | $230.8M | $385.9M | ||
| Q1 25 | $208.9M | $198.2M | ||
| Q4 24 | $212.5M | $-188.1M | ||
| Q3 24 | $265.2M | $68.9M | ||
| Q2 24 | $245.2M | $214.6M | ||
| Q1 24 | $209.2M | $436.7M |
自由现金流AMGTPG
| Q4 25 | $254.5M | — | ||
| Q3 25 | $275.9M | — | ||
| Q2 25 | $229.4M | — | ||
| Q1 25 | $207.3M | — | ||
| Q4 24 | $211.4M | — | ||
| Q3 24 | $264.5M | — | ||
| Q2 24 | $244.6M | — | ||
| Q1 24 | $208.2M | — |
自由现金流率AMGTPG
| Q4 25 | 45.7% | — | ||
| Q3 25 | 52.3% | — | ||
| Q2 25 | 46.5% | — | ||
| Q1 25 | 41.7% | — | ||
| Q4 24 | 40.3% | — | ||
| Q3 24 | 51.2% | — | ||
| Q2 24 | 48.9% | — | ||
| Q1 24 | 41.6% | — |
资本支出强度AMGTPG
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.2% | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | 0.2% | — |
现金转化率AMGTPG
| Q4 25 | 0.74× | -0.57× | ||
| Q3 25 | 1.30× | 7.33× | ||
| Q2 25 | 2.74× | 25.83× | ||
| Q1 25 | 2.89× | 7.80× | ||
| Q4 24 | 1.31× | -14.49× | ||
| Q3 24 | 2.15× | 7.69× | ||
| Q2 24 | 3.23× | — | ||
| Q1 24 | 1.40× | 28.14× |
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
TPG
| Management Fees | $484.4M | 68% |
| Transaction Fees | $118.6M | 17% |
| Expense Reimbursements And Other | $76.3M | 11% |
| Incentive Fees | $29.0M | 4% |
| Monitoring Fees | $6.8M | 1% |
