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Asset management · Financial Services · Fiscal year ends Dec 31
Acadian Asset Management reported revenue of $564M in the fiscal year ended Dec 2025, up 11.5% from the year before. Operating income was $132M, an operating margin of 23.4%, and net income was $80M. Net debt was $76M.
Ranks among the 28 asset management companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 524 | 417 | 427 | 506 | 564 |
| Operating income | 146 | 168 | 106 | 136 | 132 |
| Net interest incomeBanks | −24.6 | −19.7 | −13.5 | – | – |
| Interest expense | – | – | 19.6 | 19.4 | 21.7 |
| Pre-tax income | 178 | 145 | 96.5 | 126 | 143 |
| Income tax | 50.0 | 44.2 | 29.4 | 38.9 | 36.6 |
| Net income | 828 | 101 | 65.8 | 85.0 | 80.0 |
| Diluted EPS | 10.29 | 2.33 | 1.55 | 2.22 | 2.21 |
| Diluted shares | 80.5 | 43.2 | 42.5 | 38.3 | 36.2 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 252 | 121 | 148 | 98.5 | 124 |
| Net PP&E | 50.2 | – | – | – | – |
| Goodwill | 20.3 | 20.3 | – | – | – |
| Total assets | 715 | 519 | 611 | 703 | 677 |
| Long-term debt | 400 | 275 | 275 | 275 | 200 |
| Total liabilities | 732 | 540 | 562 | 616 | 593 |
| Shareholders' equity | −17.6 | −21.6 | 40.2 | – | – |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −11.5 | 117 | 68.3 | 55.8 | −2.4 |
| Depreciation & amortisation | 22.1 | – | – | – | – |
| Stock-based compensation | – | – | 0.1 | −23.2 | −47.7 |
| Dividend per share | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −20.4% | 2.3% | 18.5% | 11.5% |
| Operating income growth (YoY) | – | 15.2% | −36.9% | 27.8% | −2.5% |
| EPS growth (YoY) | – | −77.4% | −33.5% | 43.2% | −0.5% |
| Operating margin | 27.8% | 40.2% | 24.8% | 26.8% | 23.4% |
| Net margin | 158.2% | 24.1% | 15.4% | 16.8% | 14.2% |
| Return on equityBlank when equity is negative | – | – | 163.7% | – | – |
| Cash conversion (CFO ÷ net income) | −0.01x | 1.16x | 1.04x | 0.66x | −0.03x |
| Interest cover | – | – | 5.41x | 6.98x | 6.09x |
| Debt ÷ equity | – | – | 6.84x | – | – |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 148 | 154 | 127 | 177 | 75.6 |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.