Affiliated Managers (MGR) Operating Expenses (2009 - 2026)

Affiliated Managers (MGR) recorded quarterly Operating Expenses of $505.9 million in Q1 2026, down 3.93% quarter-over-quarter from $526.6 million in Q4 2025, and up 10.72% on a YoY basis from $456.9 million in Q1 2025.

Affiliated Managers (MGR) Operating Expenses (2009 - 2026) Analysis & Trends

Affiliated Managers' Operating Expenses history runs 18 years deep, the most recent figure standing at $505.9 million for Q1 2026.

  • In Q1 2026, Operating Expenses rose 10.72% year-over-year to $505.9 million; the TTM figure through Mar 2026 stood at $1.9 billion (up 17.12% YoY), while the FY2025 annual figure was $1.8 billion, up 19.74% from the prior year.
  • Operating Expenses was $505.9 million for Q1 2026 at Affiliated Managers, down from $526.6 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $526.6 million in Q4 2025 to a low of $357.4 million in Q3 2023.
  • Historically, Operating Expenses has averaged $411.1 million across 5 years, with a median of $395.1 million in 2022.
  • The sharpest annual moves came in 2023 and 2025: Operating Expenses dropped 15.98% in 2023, then soared 34.2% in 2025.
  • A 5-year view of Operating Expenses shows it stood at $452.5 million in 2022, then declined by 15.12% to $384.1 million in 2023, then advanced by 2.16% to $392.4 million in 2024, then jumped by 34.2% to $526.6 million in 2025, then retreated by 3.93% to $505.9 million in 2026.
  • The last three Operating Expenses figures came in at $505.9 million (Q1 2026), $526.6 million (Q4 2025), and $409.2 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 BlackRock 160.20 Bn 150.57 Bn - 3.88 Bn
2 Blackstone 96.40 Bn 95.35 Bn - 2.26 Bn
3 Kkr 85.87 Bn 133.39 Bn - 3.87 Bn
4 Apollo Global Management 79.90 Bn 98.63 Bn 5.04 Bn 4.68 Bn
5 State Street 46.62 Bn 20.95 Bn - 2.81 Bn
6 Ameriprise Financial 42.78 Bn 42.65 Bn 4.57 Bn 3.67 Bn
7 Northern Trust 32.35 Bn 32.35 Bn - 1.51 Bn
8 Ares Management 30.25 Bn 33.62 Bn - 1.17 Bn
9 Raymond James Financial 30.24 Bn 18.99 Bn - 3.12 Bn
10 Affiliated Managers - - - 505.90 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 505.90 Mn
Dec 31, 2025 526.60 Mn
Sep 30, 2025 409.20 Mn
Jun 30, 2025 412.70 Mn
Mar 31, 2025 456.90 Mn
Dec 31, 2024 392.40 Mn
Sep 30, 2024 374.70 Mn
Jun 30, 2024 359.40 Mn
Mar 31, 2024 381.30 Mn
Dec 31, 2023 384.10 Mn
Sep 30, 2023 357.40 Mn
Jun 30, 2023 374.60 Mn
Mar 31, 2023 380.50 Mn
Dec 31, 2022 452.50 Mn
Sep 30, 2022 425.40 Mn
Jun 30, 2022 400.60 Mn
Mar 31, 2022 395.10 Mn
Dec 31, 2021 467.70 Mn
Sep 30, 2021 395.30 Mn
Jun 30, 2021 389.90 Mn