Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Ashmore Group plc is a leading British investment management firm specializing in emerging markets. Founded in 1992 as part of the Australia and New Zealand Banking Group and becoming independent in 1999, it went public on the London Stock Exchange in 2006. Headquartered at 61 Aldwych in London, the company manages approximately USD 52.5 billion in assets as of December 2025 across diverse investment themes, including external debt, local currency, corporate debt, blended debt, equities, and alternatives such as special situations, real estate, and infrastructure. Ashmore employs a liquidity-focused, value-driven strategy backed by an experienced portfolio management and research team, aiming for total return through active management attuned to political dynamics and market cycles. Serving a broad client base of central banks, pension funds, institutions, and high-net-worth individuals, Ashmore demonstrates a robust, scalable business model with a track record of strong long-term performance and recognition from major rating agencies. With 272 employees and leadership including CEO Mark Coombs and Chairman Clive Adamson, it plays a pivotal role in channeling global capital into high-growth emerging market opportunities.
£2.18
+£0.06 (+2.82%)
EOD Jul 3, 2026
30.26% operating margin is above average. ROIC at 4.05%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue declined 23.6% YoY. Margins deteriorated 7.8pp alongside, both lines moving the wrong way.
Free cash flow declined 45% versus the prior year, cash generation momentum has weakened. ROIC dropped from 6.07% to 4.05%, capital efficiency is deteriorating.
18.6x earnings, 30.1x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
£144M
▼ -23.6% YoY
Net Income (TTM)
£85M
▼ -13.3% YoY
Op. Margin
30.26%
▼ -7.8pp YoY
ROIC
4.05%
▼ -2.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
£48M
▼ -45.2% YoY
Op. Cash Flow (TTM)
£71M
▼ -20.7% YoY
Net Debt
-£683M
Net Cash Position
Cash & Equiv.
£687M
3Y CAGR: -17.2%
3Y CAGR: -32.4%
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At a P/E of 18.6 and a price-to-free-cash-flow of 30.1, Ashmore Group (ASHM.XLON) trades around a two-stage DCF intrinsic value of about £2.28 per share, so at £2.18 the stock looks around fair value (4.4% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Ashmore Group scores 31/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 8.2%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about £2.28 per share for ASHM.XLON, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around £1.71. At today's £2.18, that puts the stock about 4.4% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Ashmore Group scores 31 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a 30.3% operating margin and a 4.0% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Ashmore Group pays a regular dividend of about £0.18 per share per year (typically in quarterly installments), a yield of roughly 8.2% at the current price. That is a payout ratio of about 141.1% of earnings, so the dividend is stretched at this level. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For ASHM.XLON's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. ASHM.XLON currently trades around its estimated intrinsic value and scores 31/100 on quality (lower-quality). It also yields about 8.2%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.