• Income Statement
• Balance Sheet
• Cash Flow
• Ratios
• Market Data
• Valuation

	Acadian Asset Management Inc. (AAMI)
	Q1-CY2026	Q4-CY2025	Q3-CY2025	Q2-CY2025	Q1-CY2025	Q4-CY2024	Q3-CY2024	Q2-CY2024	Q1-CY2024	Q4-CY2023	Q3-CY2023	Q2-CY2023	Q1-CY2023	Q4-CY2022	Q3-CY2022	Q2-CY2022	Q1-CY2022	Q4-CY2021	Q3-CY2021	Q2-CY2021	Q1-CY2021	Q4-CY2020	Q3-CY2020	Q2-CY2020	Q1-CY2020	Q4-CY2019	Q3-CY2019	Q2-CY2019	Q1-CY2019	Q4-CY2018	Q3-CY2018	Q2-CY2018	Q1-CY2018	Q4-CY2017	Q3-CY2017	Q2-CY2017	Q1-CY2017	Q4-CY2016	Q3-CY2016	Q2-CY2016	Q1-CY2016	Q4-CY2015	Q3-CY2015	Q2-CY2015	Q1-CY2015	Q4-CY2014	Q3-CY2014	Q2-CY2014	Q1-CY2014
Balance Sheet Date		2025-Dec-31	2025-Sep-30	2025-Jun-30	2025-Mar-31	2024-Dec-31	2024-Sep-30	2024-Jun-30	2024-Mar-31	2023-Dec-31	2023-Sep-30	2023-Jun-30	2023-Mar-31	2022-Dec-31	2022-Sep-30	2022-Jun-30	2022-Mar-31	2021-Dec-31	2021-Sep-30	2021-Jun-30	2021-Mar-31	2020-Dec-31	2020-Sep-30	2020-Jun-30	2020-Mar-31	2019-Dec-31	2019-Sep-30	2019-Jun-30
Fiscal Period		Q4-FY2025	Q3-FY2025	Q2-FY2025	Q1-FY2025	Q4-FY2024	Q3-FY2024	Q2-FY2024	Q1-FY2024	Q4-FY2023	Q3-FY2023	Q2-FY2023	Q1-FY2023	Q4-FY2022	Q3-FY2022	Q2-FY2022	Q1-FY2022	Q4-FY2021	Q3-FY2021	Q2-FY2021	Q1-FY2021	Q4-FY2020	Q3-FY2020	Q2-FY2020	Q1-FY2020	Q4-FY2019	Q3-FY2019	Q2-FY2019
Close Price of Common Stock	53.99$	47.03$	48.22$	35.25$	25.87$
Market Cap of Common Stock	1,928,661,446$	1,679,221,368$	1,726,671,385$	1,261,783,444$	969,913,590$
QoQ%	14.86%	(2.75%)	36.84%	30.09%
YoY%	98.85%
Common Shares Outstanding	35,722,568	35,709,120	35,811,913	35,795,275	37,491,828	37,317,938	37,067,135	37,763,692	38,207,819	41,508,144	41,508,144	41,464,175	41,451,964	41,433,855	41,433,855	41,425,469	43,934,421	79,819,128	79,390,490	79,354,560	79,399,859	79,885,287	80,114,696	80,241,738	85,689,773	86,107,800	91,592,320	91,500,000	97,600,000	105,600,000	106,400,000	108,400,000
QoQ%	.04%	(.29%)	.05%	(4.53%)	.47%	.68%	(1.85%)	(1.16%)	(7.95%)	.00%	.11%	.03%	.04%	.00%	.02%	(5.71%)	(44.96%)	.54%	.05%	(.06%)	(.61%)	(.29%)	(.16%)	(6.36%)	(.49%)	(5.99%)	.10%	(6.25%)	(7.58%)	(.75%)	(1.85%)
YoY%	(4.72%)	(4.31%)	(3.39%)	(5.21%)	(1.87%)	(10.10%)	(10.70%)	(8.93%)	(7.83%)	.18%	.18%	.09%	(5.65%)	(48.09%)	(47.81%)	(47.80%)	(44.67%)	(.08%)	(.90%)	(1.11%)	(7.34%)	(7.23%)	(12.53%)	(12.30%)	(12.20%)	(18.46%)	(13.92%)	(15.59%)
Price to Sales	3.42x	2.98x	3.09x	2.34x	1.87x
Price to Earnings	24.11x	20.99x	19.67x	14.08x	10.72x
Price to Book
Total Revenue		172,200,000$	144,200,000$	127,400,000$	119,900,000$	167,800,000$	123,100,000$	109,000,000$	105,700,000$	131,200,000$	107,300,000$	96,300,000$	91,800,000$	122,700,000$	86,800,000$	95,500,000$	112,200,000$	162,900,000$	117,900,000$	133,300,000$	125,300,000$	170,500,000$	178,200,000$	170,700,000$	142,600,000$	207,400,000$	197,800,000$	207,100,000$	207,500,000$	214,500,000$	230,100,000$	233,900,000$
QoQ%		19.42%	13.19%	6.26%	(28.55%)	36.31%	12.94%	3.12%	(19.44%)	22.27%	11.42%	4.90%	(25.18%)	41.36%	(9.11%)	(14.88%)	(31.12%)	38.17%	(11.55%)	6.39%	(26.51%)	(4.32%)	4.39%	19.71%	(31.24%)	4.85%	(4.49%)	(.19%)	(3.26%)	(6.78%)	(1.63%)
YoY%		2.62%	17.14%	16.88%	13.43%	27.90%	14.73%	13.19%	15.14%	6.93%	23.62%	.84%	(18.18%)	(24.68%)	(26.38%)	(28.36%)	(10.46%)	(4.46%)	(33.84%)	(21.91%)	(12.13%)	(17.79%)	(9.91%)	(17.58%)	(31.28%)	(3.31%)	(14.04%)	(11.46%)
TTM		563,700,000$	559,300,000$	538,200,000$	519,800,000$	505,600,000$	469,000,000$	453,200,000$	440,500,000$	426,600,000$	418,100,000$	397,600,000$	396,800,000$	417,200,000$	457,400,000$	488,500,000$	526,300,000$	539,400,000$	547,000,000$	607,300,000$	644,700,000$	662,000,000$	698,900,000$	718,500,000$	754,900,000$	819,800,000$	826,900,000$	859,200,000$	886,000,000$
TTM_QoQ%		.79%	3.92%	3.54%	2.81%	7.80%	3.49%	2.88%	3.26%	2.03%	5.16%	.20%	(4.89%)	(8.79%)	(6.37%)	(7.18%)	(2.43%)	(1.39%)	(9.93%)	(5.80%)	(2.61%)	(5.28%)	(2.73%)	(4.82%)	(7.92%)	(.86%)	(3.76%)	(3.03%)
TTM_YoY%		11.49%	19.25%	18.76%	18.00%	18.52%	12.17%	13.98%	11.01%	2.25%	(8.59%)	(18.61%)	(24.61%)	(22.66%)	(16.38%)	(19.56%)	(18.37%)	(18.52%)	(21.73%)	(15.48%)	(14.60%)	(19.25%)	(15.48%)	(16.38%)	(14.80%)
Gross Margin		100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
QoQ		.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%
YoY		.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%
Operating Income		57,400,000$	26,600,000$	16,200,000$	31,900,000$	65,000,000$	27,000,000$	20,600,000$	22,900,000$	35,600,000$	30,200,000$	20,400,000$	19,800,000$	47,900,000$	30,100,000$	46,700,000$	43,200,000$	48,500,000$	28,700,000$	36,100,000$	32,500,000$	26,900,000$	34,200,000$	29,900,000$	40,700,000$	83,800,000$	51,900,000$	46,600,000$	68,000,000$	29,600,000$	13,300,000$	15,300,000$
QoQ%		115.79%	64.20%	(49.22%)	(50.92%)	140.74%	31.07%	(10.04%)	(35.67%)	17.88%	48.04%	3.03%	(58.66%)	59.14%	(35.55%)	8.10%	(10.93%)	68.99%	(20.50%)	11.08%	20.82%	(21.35%)	14.38%	(26.54%)	(51.43%)	61.46%	11.37%	(31.47%)	129.73%	122.56%	(13.07%)
YoY%		(11.69%)	(1.48%)	(21.36%)	39.30%	82.58%	(10.60%)	.98%	15.66%	(25.68%)	.33%	(56.32%)	(54.17%)	(1.24%)	4.88%	29.36%	32.92%	80.30%	(16.08%)	20.74%	(20.15%)	(67.90%)	(34.10%)	(35.84%)	(40.15%)	183.11%	290.23%	204.58%
TTM		132,100,000$	139,700,000$	140,100,000$	144,500,000$	135,500,000$	106,100,000$	109,300,000$	109,100,000$	106,000,000$	118,300,000$	118,200,000$	144,500,000$	167,900,000$	168,500,000$	167,100,000$	156,500,000$	145,800,000$	124,200,000$	129,700,000$	123,500,000$	131,700,000$	188,600,000$	206,300,000$	223,000,000$	250,300,000$	196,100,000$	157,500,000$	126,200,000$
TTM_QoQ%		(5.44%)	(.29%)	(3.05%)	6.64%	27.71%	(2.93%)	.18%	2.93%	(10.40%)	.09%	(18.20%)	(13.94%)	(.36%)	.84%	6.77%	7.34%	17.39%	(4.24%)	5.02%	(6.23%)	(30.17%)	(8.58%)	(7.49%)	(10.91%)	27.64%	24.51%	24.80%
TTM_YoY%		(2.51%)	31.67%	28.18%	32.45%	27.83%	(10.31%)	(7.53%)	(24.50%)	(36.87%)	(29.79%)	(29.26%)	(7.67%)	15.16%	35.67%	28.84%	26.72%	10.71%	(34.15%)	(37.13%)	(44.62%)	(47.38%)	(3.83%)	30.98%	76.70%
Operating Margin		33.33%	18.45%	12.72%	26.61%	38.74%	21.93%	18.90%	21.67%	27.13%	28.15%	21.18%	21.57%	39.04%	34.68%	48.90%	38.50%	29.77%	24.34%	27.08%	25.94%	15.78%	19.19%	17.52%	28.54%	40.41%	26.24%	22.50%	32.77%	13.80%	5.78%	6.54%
QoQ		14.89%	5.73%	(13.89%)	(12.13%)	16.80%	3.03%	(2.77%)	(5.47%)	(1.01%)	6.96%	(.39%)	(17.47%)	4.36%	(14.22%)	10.40%	8.73%	5.43%	(2.74%)	1.14%	10.16%	(3.42%)	1.68%	(11.03%)	(11.86%)	14.17%	3.74%	(10.27%)	18.97%	8.02%	(.76%)
YoY		(5.40%)	(3.49%)	(6.18%)	4.94%	11.60%	(6.21%)	(2.29%)	.10%	(11.90%)	(6.53%)	(27.72%)	(16.93%)	9.27%	10.33%	21.82%	12.57%	14.00%	5.15%	9.57%	(2.60%)	(24.63%)	(7.05%)	(4.99%)	(4.23%)	26.61%	20.46%	15.96%
Net Income		36,700,000$	27,000,000$	10,100,000$	23,800,000$	40,600,000$	19,000,000$	11,500,000$	15,700,000$	23,800,000$	19,800,000$	11,500,000$	12,000,000$	30,400,000$	17,800,000$	28,600,000$	23,800,000$	39,200,000$	229,500,000$	587,300,000$	40,400,000$	205,500,000$	34,000,000$	53,900,000$	22,100,000$	74,300,000$	83,000,000$	21,600,000$	61,100,000$	18,800,000$	54,200,000$	2,500,000$
QoQ%		35.93%	167.33%	(57.56%)	(41.38%)	113.68%	65.22%	(26.75%)	(34.03%)	20.20%	72.17%	(4.17%)	(60.53%)	70.79%	(37.76%)	20.17%	(39.29%)	(82.92%)	(60.92%)	1,353.71%	(80.34%)	504.41%	(36.92%)	143.89%	(70.26%)	(10.48%)	284.26%	(64.65%)	225.00%	(65.31%)	2,068.00%
YoY%		(9.61%)	42.11%	(12.17%)	51.59%	70.59%	(4.04%)	.00%	30.83%	(21.71%)	11.24%	(59.79%)	(49.58%)	(22.45%)	(92.24%)	(95.13%)	(41.09%)	(80.93%)	575.00%	989.61%	82.81%	176.58%	(59.04%)	149.54%	(63.83%)	295.21%	53.14%	764.00%
TTM		97,600,000$	101,500,000$	93,500,000$	94,900,000$	86,800,000$	70,000,000$	70,800,000$	70,800,000$	67,100,000$	73,700,000$	71,700,000$	88,800,000$	100,600,000$	109,400,000$	321,100,000$	879,800,000$	896,400,000$	1,062,700,000$	867,200,000$	333,800,000$	315,500,000$	184,300,000$	233,300,000$	201,000,000$	240,000,000$	184,500,000$	155,700,000$	136,600,000$
TTM_QoQ%		(3.84%)	8.56%	(1.48%)	9.33%	24.00%	(1.13%)	.00%	5.51%	(8.96%)	2.79%	(19.26%)	(11.73%)	(8.04%)	(65.93%)	(63.50%)	(1.85%)	(15.65%)	22.54%	159.80%	5.80%	71.19%	(21.00%)	16.07%	(16.25%)	30.08%	18.50%	13.98%
TTM_YoY%		12.44%	45.00%	32.06%	34.04%	29.36%	(5.02%)	(1.26%)	(20.27%)	(33.30%)	(32.63%)	(77.67%)	(89.91%)	(88.78%)	(89.71%)	(62.97%)	163.57%	184.12%	476.61%	271.71%	66.07%	31.46%	(.11%)	49.84%	47.15%
Profit Margin		21.31%	18.72%	7.93%	19.85%	24.20%	15.44%	10.55%	14.85%	18.14%	18.45%	11.94%	13.07%	24.78%	20.51%	29.95%	21.21%	24.06%	194.66%	440.59%	32.24%	120.53%	19.08%	31.58%	15.50%	35.82%	41.96%	10.43%	29.45%	8.77%	23.56%	1.07%
QoQ		2.59%	10.80%	(11.92%)	(4.35%)	8.76%	4.89%	(4.30%)	(3.29%)	(.31%)	6.51%	(1.13%)	(11.70%)	4.27%	(9.44%)	8.74%	(2.85%)	(170.59%)	(245.93%)	408.34%	(88.29%)	101.45%	(12.50%)	16.08%	(20.33%)	(6.14%)	31.53%	(19.02%)	20.68%	(14.79%)	22.49%
YoY		(2.88%)	3.29%	(2.62%)	5.00%	6.06%	(3.02%)	(1.39%)	1.78%	(6.64%)	(2.05%)	(18.01%)	(8.14%)	.71%	(174.15%)	(410.64%)	(11.03%)	(96.46%)	175.58%	409.01%	16.75%	84.70%	(22.88%)	21.15%	(13.95%)	27.06%	18.41%	9.36%
Equity to Common Shareholders										40,200,000$				(21,600,000$)	(55,100,000$)	(71,000,000$)	(97,900,000$)	(17,600,000$)	1,084,000,000$	863,900,000$	430,000,000$	384,400,000$	185,800,000$	152,600,000$	119,300,000$	114,500,000$	70,800,000$	21,800,000$	8,400,000$	134,200,000$	101,300,000$	149,100,000$
QoQ														33,500,000$	15,900,000$	26,900,000$	(80,300,000$)	(1,101,600,000$)	220,100,000$	433,900,000$	45,600,000$	198,600,000$	33,200,000$	33,300,000$	4,800,000$	43,700,000$	49,000,000$	13,400,000$	(125,800,000$)	32,900,000$	(47,800,000$)
QoQ%														60.80%	22.39%	27.48%	(456.25%)	(101.62%)	25.48%	100.91%	11.86%	106.89%	21.76%	27.91%	4.19%	61.72%	224.77%	159.52%	(93.74%)	32.48%	(32.06%)
YoY										61,800,000$				(4,000,000$)	(1,139,100,000$)	(934,900,000$)	(527,900,000$)	(402,000,000$)	898,200,000$	711,300,000$	310,700,000$	269,900,000$	115,000,000$	130,800,000$	110,900,000$	(19,700,000$)	(30,500,000$)	(127,300,000$)
YoY%										286.11%				(22.73%)	(105.08%)	(108.22%)	(122.77%)	(104.58%)	483.42%	466.12%	260.44%	235.72%	162.43%	600.00%	1,320.24%	(14.68%)	(30.11%)	(85.38%)
Dividends Paid												300,000$	500,000$		200,000$	300,000$	300,000$		400,000$	500,000$	600,000$
Additional Paid-In Capital QoQ															400,000$
Treasury Stock
QoQ
Goodwill														20,300,000$	20,300,000$	20,300,000$	20,300,000$	20,300,000$				20,300,000$	182,100,000$	258,200,000$	308,500,000$	112,800,000$	274,600,000$	274,600,000$	308,500,000$	274,600,000$
QoQ%														.00%	.00%	.00%	.00%					(88.85%)	(29.47%)	(16.31%)	173.49%	(58.92%)	.00%	(10.99%)	12.35%
YoY%														.00%				.00%				(82.00%)	(33.69%)	(5.97%)	.00%	(58.92%)
Other Intangible Assets																						57,400,000$	59,000,000$	60,600,000$	62,500,000$	64,100,000$
QoQ																						(1,600,000$)	(1,600,000$)	(1,900,000$)	(1,600,000$)
Amortization of Intangible Assets															100,000$				100,000$			1,600,000$	1,600,000$	1,900,000$	1,600,000$	1,700,000$	1,600,000$	1,700,000$
Total Assets		677,000,000$	751,400,000$	672,300,000$	677,300,000$	703,200,000$	555,200,000$	533,100,000$	544,900,000$	611,400,000$	553,000,000$	558,300,000$	546,000,000$	518,700,000$	474,700,000$	478,300,000$	494,100,000$	714,800,000$	1,847,500,000$	1,748,500,000$	1,436,900,000$	1,379,200,000$	1,417,200,000$	1,422,800,000$	1,423,500,000$	1,419,700,000$	1,432,300,000$	1,425,100,000$		1,553,700,000$
QoQ		(74,400,000$)	79,100,000$	(5,000,000$)	(25,900,000$)	148,000,000$	22,100,000$	(11,800,000$)	(66,500,000$)	58,400,000$	(5,300,000$)	12,300,000$	27,300,000$	44,000,000$	(3,600,000$)	(15,800,000$)	(220,700,000$)	(1,132,700,000$)	99,000,000$	311,600,000$	57,700,000$	(38,000,000$)	(5,600,000$)	(700,000$)	3,800,000$	(12,600,000$)	7,200,000$
YoY		(26,200,000$)	196,200,000$	139,200,000$	132,400,000$	91,800,000$	2,200,000$	(25,200,000$)	(1,100,000$)	92,700,000$	78,300,000$	80,000,000$	51,900,000$	(196,100,000$)	(1,372,800,000$)	(1,270,200,000$)	(942,800,000$)	(664,400,000$)	430,300,000$	325,700,000$	13,400,000$	(40,500,000$)	(15,100,000$)	(2,300,000$)		(134,000,000$)
Total Liabilities		593,000,000$	640,100,000$	585,400,000$	584,800,000$	616,100,000$	559,000,000$	551,900,000$	555,100,000$	561,900,000$	521,800,000$	552,300,000$	554,300,000$	540,300,000$	529,800,000$	549,300,000$	592,000,000$	732,400,000$	763,500,000$	884,600,000$	1,006,900,000$	994,800,000$	1,145,800,000$	1,190,300,000$	1,229,700,000$	1,221,300,000$	1,279,600,000$	1,321,500,000$		1,377,600,000$
QoQ		(47,100,000$)	54,700,000$	600,000$	(31,300,000$)	57,100,000$	7,100,000$	(3,200,000$)	(6,800,000$)	40,100,000$	(30,500,000$)	(2,000,000$)	14,000,000$	10,500,000$	(19,500,000$)	(42,700,000$)	(140,400,000$)	(31,100,000$)	(121,100,000$)	(122,300,000$)	12,100,000$	(151,000,000$)	(44,500,000$)	(39,400,000$)	8,400,000$	(58,300,000$)	(41,900,000$)
YoY		(23,100,000$)	81,100,000$	33,500,000$	29,700,000$	54,200,000$	37,200,000$	(400,000$)	800,000$	21,600,000$	(8,000,000$)	3,000,000$	(37,700,000$)	(192,100,000$)	(233,700,000$)	(335,300,000$)	(414,900,000$)	(262,400,000$)	(382,300,000$)	(305,700,000$)	(222,800,000$)	(226,500,000$)	(133,800,000$)	(131,200,000$)		(156,300,000$)
Current Ratio
Total Current Assets
QoQ
Total Current Liabilities
QoQ
Debt to Asset Ratio		.88x	.85x	.87x	.86x	.88x	1.01x	1.04x	1.02x	.92x	.94x	.99x	1.02x	1.04x	1.12x	1.15x	1.20x	1.02x	.41x	.51x	.70x	.72x	.81x	.84x	.86x	.86x	.89x	.93x		.89x
Long Term Debt		200,000,000$				275,000,000$				275,000,000$				275,000,000$				400,000,000$				400,000,000$				568,800,000$				393,300,000$
QoQ
YoY		(75,000,000$)				0$				0$				(125,000,000$)				0$				(168,800,000$)				175,500,000$
Capital Lease Obligations		61,400,000$	62,300,000$	63,800,000$	65,500,000$	67,300,000$	67,600,000$	69,100,000$	70,600,000$	72,400,000$	73,900,000$	75,800,000$	77,000,000$	75,800,000$	75,300,000$	76,100,000$	76,100,000$	77,600,000$	77,900,000$	79,700,000$	96,900,000$	107,900,000$	110,000,000$	124,900,000$	119,300,000$	42,500,000$	45,300,000$	48,600,000$	49,900,000$
Cash and Cash Equivalents															101,400,000$	92,200,000$	88,800,000$	252,100,000$
QoQ															9,200,000$	3,400,000$	(163,300,000$)
YoY
Interest Expenses							4,100,000$	4,400,000$	3,700,000$	2,700,000$	3,100,000$	5,400,000$	4,900,000$	4,100,000$	4,600,000$	4,800,000$	6,500,000$	6,000,000$	6,200,000$	6,300,000$	6,200,000$	6,300,000$	6,900,000$	7,200,000$	7,500,000$	7,700,000$	7,900,000$	8,500,000$	5,900,000$	5,000,000$	5,400,000$
Interest Income		900,000$	900,000$	800,000$	1,100,000$	700,000$	600,000$	900,000$	1,300,000$		0$	0$

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