AMG
Affiliated Managers Group, Inc.
AMG has the edge over BLK overall, supported by stronger fundamentals and stronger valuation.
BLK
BlackRock, Inc.
BLK trails on the overall score without a compensating advantage in the available component scores.
AMG Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
AMG's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like AMG.
BLK Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
BLK's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BLK.
AMG PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.7x | $246 | -38% |
| Forward | 9.3x | $393 | — |
| Fair | 12x | $353 | -10% |
| Current | 14x | $393 | — |
| Expensive | 20x | $555 | +41% |
Historical ranges are pointers, not guarantees.
AMG's PE is in its fair range at 14x. If earnings grow as analysts expect, today's price would be 9.3x next year's earnings, in its cheap range.
BLK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 19x | $848 | -30% |
| Fair | 22x | $973 | -20% |
| Expensive | 26x | $1,149 | -5.5% |
| Current | 28x | $1,217 | — |
Historical ranges are pointers, not guarantees.
BLK has the edge over AMG in the historical PE scenario, which offers more potential upside but is not a forecast.
AMG Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for AMG, with profitability improving.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
AMG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $42.30 | +49% |
| Q3 2026 | $28.30 | +68% |
| Q2 2026 | $28.53 | +108% |
| Q1 2026 | $24.38 | +85% |
| Q4 2025 | $22.74 | +50% |
| Q3 2025 | $16.82 | +9.2% |
| Q2 2025 | $13.73 | -20% |
| Q1 2025 | $13.19 | -27% |
| Q4 2024 | $15.13 | -13% |
AMG has the edge over BLK on earnings, with more consistent year-over-year improvement.
BLK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $43.87 | +11% |
| Q2 2026 | $41.73 | -0.4% |
| Q1 2026 | $39.73 | -4.7% |
| Q4 2025 | $35.31 | -17% |
| Q3 2025 | $39.42 | -2.7% |
| Q2 2025 | $41.89 | +4% |
| Q1 2025 | $41.69 | +5.9% |
| Q4 2024 | $42.53 | +16% |
BLK earned $43.87 per share over the past year, up 11% from the year before.
AMG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $595.2M | +13% |
| Q2 2026 | $640.7M | +30% |
| Q1 2026 | $544.9M | +9.7% |
| Q4 2025 | $556.6M | +6.2% |
| Q3 2025 | $528M | +2.2% |
| Q2 2025 | $493.2M | -1.4% |
| Q1 2025 | $496.6M | -0.7% |
| Q4 2024 | $524.3M | +4.3% |
AMG's revenue has grown year over year for five quarters in a row: $595M last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 54% | -14 points |
| Q2 2026 | 48% | +13 points |
| Q1 2026 | 35% | +9.9 points |
| Q4 2025 | 94% | +42 points |
| Q3 2025 | 69% | +27 points |
| Q2 2025 | 35% | -0.9 points |
| Q1 2025 | 25% | -25 points |
| Q4 2024 | 52% | -2.3 points |
AMG has the edge over BLK on profitability, with a higher operating margin.
BLK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $7.8B | +19% |
| Q2 2026 | $7.1B | +31% |
| Q1 2026 | $6.7B | +27% |
| Q4 2025 | $7B | +23% |
| Q3 2025 | $6.5B | +25% |
| Q2 2025 | $5.4B | +13% |
| Q1 2025 | $5.3B | +12% |
| Q4 2024 | $5.7B | +23% |
BLK has the edge over AMG on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | 0 points |
| Q2 2026 | 35% | +2.8 points |
| Q1 2026 | 42% | +9.8 points |
| Q4 2025 | 24% | -13 points |
| Q3 2025 | 30% | -8.6 points |
| Q2 2025 | 32% | -5.5 points |
| Q1 2025 | 32% | -3.6 points |
| Q4 2024 | 37% | +2.3 points |
BLK's operating margin was 30% last quarter, about level with the same quarter a year ago, near the bottom of its range since 2019.
AMG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $360.1M | +31% |
| Q2 2026 | $239M | +4.2% |
| Q1 2026 | $295.5M | +43% |
| Q4 2025 | $254.5M | +20% |
| Q3 2025 | $275.9M | +4.3% |
| Q2 2025 | $229.4M | -6.2% |
| Q1 2025 | $207.3M | -0.4% |
| Q4 2024 | $211.4M | -15% |
AMG's free cash flow was $1.1B over the past year, up 24% from the year before. Free cash flow isn't a meaningful measure for financial services companies like AMG.
BLK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.6B | +95% |
| Q2 2026 | $1.1B | -12% |
| Q1 2026 | -$1.1B | +$120M |
| Q4 2025 | $2.1B | -15% |
| Q2 2025 | $1.3B | -6.1% |
| Q1 2025 | -$1.2B | -$734M |
| Q4 2024 | $2.5B | +35% |
| Q2 2024 | $1.4B | +47% |
BLK's free cash flow was $4.8B over the past year, up 22% from the year before. Free cash flow isn't a meaningful measure for financial services companies like BLK.
AMG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3% | -800K shares |
| 1 year | -21% | -6.8M shares |
| 3 years | -38% | -16M shares |
| 5 years | -43% | -19.3M shares |
| Available history | -48% | -24.5M shares |
AMG has the edge over BLK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $402.6M |
| Q2 2026 | $179.7M |
| Q1 2026 | $185.1M |
| Q4 2025 | $353.1M |
| Q3 2025 | $75.7M |
| Q2 2025 | $101.3M |
| Q1 2025 | $176.2M |
| Q4 2024 | $120.3M |
AMG spent $1.1B buying back its own shares over the past year, up 137% from the year before.
BLK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -148K shares |
| 1 year | -0.4% | -677K shares |
| 3 years | +9.3% | +14M shares |
| 5 years | +6.2% | +9.6M shares |
| Available history | +4.4% | +7M shares |
BLK has 165M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2025 | $396M |
| Q1 2025 | $657M |
| Q4 2024 | $386M |
| Q2 2024 | $519M |
| Q1 2024 | $634M |
| Q4 2023 | $384M |
| Q3 2023 | $396M |
| Q2 2023 | $383M |
AMG Net Leverage
BLK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.0x | Net Cash |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2024 | 0.2x | Very low |
| Q1 2024 | 0.3x | Very low |
| Q4 2023 | 0.1x | Very low |
BLK has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like BLK.
AMG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 63.3 | Neutral |
| Stochastic | 62.0 | Neutral |
AMG's weekly RSI is 63 (neutral) and its Stochastic is 62 (neutral).
BLK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.5 | Neutral |
| Stochastic | 79.0 | Neutral |
BLK's weekly RSI is 64 (neutral) and its Stochastic is 79 (neutral).
AMG PE vs Financial Services Sector
| Metric | AMG | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 13x | 6.8% above |
| PE % | 59 | 63 | 4 pts below |
AMG has the edge over BLK on valuation relative to its sector.
BLK PE vs Financial Services Sector
| Metric | BLK | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 113% above |
| PE % | 97 | 63 | 34 pts above |
BLK is trading at 28x earnings, a 113% premium to the Financial Services sector's median of 13x.
AMG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $379.7 | 3.6% above |
| 20 week MA | $369.8 | 6.4% above |
| 50 week MA | $328.5 | 20% above |
| 100 week MA | $264.2 | 49% above |
| 200 week MA | $209.8 | 88% above |
AMG is in an uptrend: it's above all five of its weekly moving averages, and 88% above its 200-week average.
BLK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,128.0 | 7.9% above |
| 20 week MA | $1,108.9 | 9.7% above |
| 50 week MA | $1,071.6 | 14% above |
| 100 week MA | $1,051.1 | 16% above |
| 200 week MA | $914.1 | 33% above |
BLK is in an uptrend: it's above all five of its weekly moving averages, and 33% above its 200-week average.
AMG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $85.0 | $101.7 | +20% |
| 2021 | $101.7 | $160.8 | +58% |
| 2022 | $160.8 | $156.9 | -2.4% |
| 2023 | $156.9 | $151.4 | -3.5% |
| 2024 | $151.4 | $187.6 | +24% |
| 2025 | $187.6 | $296.1 | +58% |
| 2026 YTD | $296.1 | $393.5 | +33% |
AMG has the edge over BLK on returns for 2026, with the stronger performance.
BLK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $503.0 | $707.2 | +41% |
| 2021 | $707.2 | $913.9 | +29% |
| 2022 | $913.9 | $703.9 | -23% |
| 2023 | $703.9 | $811.8 | +15% |
| 2024 | $811.8 | $1,044.2 | +29% |
| 2025 | $1,044.2 | $1,088.1 | +4.2% |
| 2026 YTD | $1,088.1 | $1,216.6 | +12% |
BLK has finished higher in five of the last six years. It's up 12% so far in 2026.