Acadian Asset Management Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data Acadian Asset Management Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	887	928	807	698	524	417	427	506	564
Operating expenses	816	844	372	368	378	249	321	370	432
Operating income	71	83.8	222	132	146	168	106	136	132
Interest expense							19.6	19.4	21.7
Interest income							6.1	3.5	3.7
Other non-operating income	71	51.4	-9	213	32.3	-23.1	-9.5	-9.8	11.1
Pre-tax income	142	135	213	345	178	145	96.5	126	143
Income tax	133	5	10.5	97.1	50	44.2	29.4	38.9	36.6
Income from continuing operations	9.2	130	197	247	128	101	65.8
Net income to minority interests		-6.1	16.1	28.8	68	0	1.3	1.8
Net income	4.2	136	224	287	828	101	65.8	85	80
EBITDA					168
EPS, basic	0.04	1.27	2.45	3.53	10.73	2.39	1.59	2.25	2.21
EPS, diluted	0.04	1.26	2.45	3.49	10.29	2.33	1.55	2.22	2.21
Shares, basic (weighted)	111	107	91.2	81.3	77.2	42.1	41.5	37.8	36.2
Shares, diluted (weighted)	111	108	91.3	82	80.5	43.2	42.5	38.3	36.2
Dividend per share	0.36	0.39	0.40	0.13	0.04	0.04	0.04	0.04	0.04

Balance sheet

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	200	283	82.1	373	252	121	148	98.5	124
Property, plant and equipment					50.2
Lease right-of-use assets			37.7		65.1
Goodwill	309	275	113	20.3	20.3	20.3
Intangible assets			64.1	57.4
Total assets		1,554	1,420	1,379	715	519	611	703	677
Total liabilities		1,378	1,221	995	732	540	562	616	593
Total debt		393	569	400	400	275	275	275	200
Paid-in capital					0
Retained earnings					-6.8
Other comprehensive income					-10.8
Minority interests					0
Total equity	127	134	115	384	-17.6	-21.6	40.2
Total liabilities and equity		1,554	1,420	1,379	715	519	611	703	677

Cash flow statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	9.1	130	240	316	896	101	67.1	86.8	107
Depreciation and amortization					22.1
Stock-based compensation							0.1	-23.2	-47.7
Deferred income tax	93.3	-29.2	31.3	71.6	-5	6.4	-6	-10.2	1.5
Cash from operations	140	195	-139	90.5	-11.5	117	68.3	55.8	-2.4
Purchases of investments	-146	-250	-187
Sales and maturities of investments	59.8	191	149
Cash from investing	54.8	17.4	9	270	1,039	-13	-43.9	-50.1	15.7
Stock issued				0.2	2.7	0	0	0.1
Cash from financing	-96.4	-67.4	-95	-77.4	-1,180	-234	1.8	-54.4	12.1
Exchange rate effect				0	0	-1	0.2	-0.4	0.5
Net change in cash	98.1	145	-225	283	-152	-131	26.4	-49.1	25.9
Income taxes paid	71.2	45.6	44.6	33.4	205	36.8	37.8	48.5	34.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $93.88 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	23.7%	Operating income / revenue.
Pre-tax margin	24.5%	Pre-tax income / revenue.
Net margin	15.2%	Net income / revenue.
Operating cash flow margin	-5.1%	Cash from operations / revenue.
Effective tax rate	28.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	11.8%	Net income / average total assets.
Stock-based pay / revenue	-11.6%	Stock-based compensation (from the cash flow statement) / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	11.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	10.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-4.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-2.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-7.7%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	0.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-5.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-7.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-22.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-0.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-1.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-8.7%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-104.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	-21.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-3.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	9.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-13.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-5.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-5.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-15.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	84.5%	Total liabilities / total assets.
Interest coverage	8.51x	Operating income / interest expense.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.78x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.84	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$18.71	Revenue / diluted weighted shares.
Operating cash flow per share	-$0.95	Cash from operations / diluted weighted shares.
Cash per share	$2.40	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$3.33B	Share price x shares outstanding.
Enterprise value	$3.25B	Market cap + total debt - cash - short-term investments.
P/E	32.9x	Market cap / net income. Only when net income is positive.
P/S	4.98x	Market cap / revenue.
EV/Sales	4.86x	Enterprise value / revenue.
EV/EBIT	20.5x	Enterprise value / operating income, when both are positive.
Earnings yield	3.0%	Net income / market cap (the inverse of P/E).

What was Acadian Asset Management Inc.'s revenue in fiscal 2025?

Acadian Asset Management Inc. reported revenue of $563.7M for fiscal 2025, 11.5% higher than the year before.

Was Acadian Asset Management Inc. profitable in fiscal 2025?

Yes. Net income was $80.0M, a net margin of 14.2%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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