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Acadian Asset Management (BSIG) investor relations material
Acadian Asset Management Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record AUM of $177.5 billion as of December 31, 2025, up 51% year-over-year, driven by strong net client cash flows and robust equity markets, with the highest annual net inflows at $29.4 billion.
Delivered record management fees of $146.4 million in Q4 2025, up 32% year-over-year, with recurring revenue base significantly strengthened.
ENI diluted EPS reached a record $3.25 for 2025, up 18% year-over-year, and Q4 ENI EPS hit $1.32, up 2% from Q4 2024, supported by share repurchases.
U.S. GAAP net income attributable to controlling interests decreased 6% year-over-year to $80.0 million, and Q4 net income fell 18% to $34.7 million, mainly due to increased non-cash expenses.
Long-term investment performance remained strong, with 95% of strategies by revenue outperforming benchmarks over 3-, 5-, and 10-year periods.
Financial highlights
Q4 2025 revenue increased 2.6% year-over-year to $172.2 million, with management fees up 32% due to a 43% increase in average AUM.
ENI total revenue for 2025 was nearly $549 million, up 9% from 2024, and ENI margin expanded to 35.5% for FY 2025.
Adjusted EBITDA rose 9% for the full year to $192.9 million, driven by recurring management fee growth.
Q4 2025 operating margin expanded to 45.7%, up from 42.3% in Q4 2024.
Variable compensation ratio decreased to 39.4% for FY 2025 from 42.3% in 2024.
Outlook and guidance
Entering 2026 with a robust and diverse institutional pipeline across products, geographies, and vehicles, and continued focus on organic growth and expense discipline.
Expect continued strong free cash flow generation, with excess capital to be deployed toward organic growth, dividends, and share repurchases.
Ongoing investments in systematic credit, technology, and AI to support growth and efficiency.
2026 full-year Acadian LLC key employee distribution ratio projected at 12%-14% given current profit levels.
Contractual allocations imply a 2026 variable compensation ratio of 40%-43%, assuming similar revenue mix and levels.
- TimeTickerHeadlineOpen
- 5 FebRBC
Q3 sales up 17% with strong Aerospace/Defense growth; Q4 revenue guided up 13.1–15.4%. - 5 FebABX
Record earnings, strong cash flow, and a North America gold IPO drive 2025 performance. - 5 FebMOD
Q3 sales and EBITDA surged on data center demand, but pension charge caused a net loss. - 5 FebBKH
2025 adjusted EPS up 5% to $4.10, with 6% growth guidance and a major merger pending. - 5 FebMUSA
Q4 2025 net income was $141.9M; 2026 guidance targets $439M net income and disciplined growth. - 5 FebNOV
Q4 revenue up 5% sequentially; strong cash flow and shareholder returns, but 2026 outlook cautious. - 5 FebGL
Earnings and premium growth drive higher 2026 guidance and continued share repurchases. - 5 FebARES
AUM up 29% to $622.5B, with record fundraising, earnings growth, and a 20% dividend hike. - 5 FebSKEL
NAV per share reached ISK 22.4, profit was ISK 4,297m, and a ISK 6,000m dividend was paid. - 5 FebCRNO
Advancing HDAC inhibitors for rare cardiopulmonary diseases, targeting major market and partnership milestones.
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