AAMI
Acadian Asset Management
AAMI's fundamentals are strong, but it looks expensive: trading at 28x earnings, more than twice its usual 10x. Analysts expect strong earnings growth.
AAMI Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| N/A | |
| N/A |
AAMI's revenue and profitability are currently strong. Free cash flow and net leverage aren't meaningful measures for financial services companies like AAMI.
AAMI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 3.2x | $10.93 | -89% |
| Fair | 10x | $35.36 | -63% |
| Forward | 16x | $95.12 | — |
| Expensive | 19x | $64.47 | -32% |
| Current | 28x | $95.12 | — |
Historical ranges are pointers, not guarantees.
AAMI's PE is in its expensive range at 28x. If earnings grow as analysts expect, today's price would be 16x next year's earnings.
AAMI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for AAMI, with profitability improving.
AAMI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.90 | +73% |
| Q3 2026 | $3.41 | +45% |
| Q2 2026 | $2.83 | +19% |
| Q1 2026 | $2.35 | -1.7% |
| Q4 2025 | $2.21 | -0.5% |
| Q3 2025 | $2.35 | +42% |
| Q2 2025 | $2.38 | +43% |
| Q1 2025 | $2.39 | +46% |
| Q4 2024 | $2.22 | +43% |
AAMI's earnings per share have fallen from their peak: $3.41 over the past year, against $11.93 in late 2021.
AAMI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $191.2M | +33% |
| Q2 2026 | $185.1M | +45% |
| Q1 2026 | $167M | +39% |
| Q4 2025 | $172.2M | +2.6% |
| Q3 2025 | $144.2M | +17% |
| Q2 2025 | $127.4M | +17% |
| Q1 2025 | $119.9M | +13% |
| Q4 2024 | $167.8M | +28% |
AAMI's revenue has grown year over year for 14 quarters in a row: $191M last quarter, up 33% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 26% | +8 points |
| Q2 2026 | 18% | +4.8 points |
| Q1 2026 | 25% | -1.5 points |
| Q4 2025 | 33% | -5.4 points |
| Q3 2025 | 18% | -3.5 points |
| Q2 2025 | 13% | -6.2 points |
| Q1 2025 | 27% | +4.9 points |
| Q4 2024 | 39% | +12 points |
AAMI's operating margin was 26% last quarter, up 8 points from the same quarter a year ago.
AAMI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $57.3M | +$81.2M |
| Q2 2026 | $26M | -58% |
| Q1 2026 | -$44.9M | +$3.9M |
| Q4 2025 | $8.7M | +$27.8M |
| Q3 2025 | -$23.9M | -134% |
| Q2 2025 | $61.6M | +35% |
| Q1 2025 | -$48.8M | -$8.4M |
| Q4 2024 | -$19.1M | -145% |
AAMI's free cash flow was $47M over the past year, against −$30M the year before. Free cash flow isn't a meaningful measure for financial services companies like AAMI.
AAMI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -124K shares |
| 1 year | -0.7% | -247K shares |
| 3 years | -16% | -7M shares |
| 5 years | -57% | -47.6M shares |
| Available history | -59% | -50.3M shares |
AAMI has 36M diluted shares, down 0.7% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2023 | — |
| Q1 2023 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | $103.2M |
AAMI Net Leverage
AAMI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.2 | Neutral |
| Stochastic | 51.9 | Neutral |
AAMI's weekly RSI is 68 (neutral) and its Stochastic is 52 (neutral).
AAMI PE vs Financial Services Sector
| Metric | AAMI | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 114% above |
| PE % | 92 | 63 | 29 pts above |
AAMI is trading at 28x earnings, a 114% premium to the Financial Services sector's median of 13x.
AAMI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $92.7 | 2.7% above |
| 20 week MA | $89.6 | 6.2% above |
| 50 week MA | $71.2 | 34% above |
| 100 week MA | $53.1 | 79% above |
| 200 week MA | $37.8 | 152% above |
AAMI is in an uptrend: it's above all five of its weekly moving averages, and 152% above its 200-week average.
AAMI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.1 | $19.0 | +88% |
| 2021 | $19.0 | $25.7 | +35% |
| 2022 | $25.7 | $19.3 | -25% |
| 2023 | $19.3 | $19.2 | -0.8% |
| 2024 | $19.2 | $26.9 | +40% |
| 2025 | $26.9 | $48.4 | +80% |
| 2026 YTD | $48.4 | $95.1 | +97% |
AAMI has finished higher in four of the last six years, two of them by more than 50%. It's up 97% so far in 2026.