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We are a diversified global asset management firm with total assets under management ( AUM ) of $313.8 billion, and $316.6 billion in total client assets, as of December 31, 2025. Our differentiated business model combines boutique investment qualities with the benefits of a scaled, integrated, centralized (not standardized) operating and distribution platform.
36.63% operating margin is above average. ROIC at 13.35%.
Revenue grew 46.2%, still solid. Margins contracted 11.2pp, which offsets some of the top-line progress.
ROIC dropped from 16.47% to 13.35%, capital efficiency is deteriorating. Operating margin contracted 11.2pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$1.47B
▲ +46.2% YoY
Net Income (TTM)
$380M
▲ +14.3% YoY
Op. Margin
36.94%
▼ -11.2pp YoY
ROIC
12.23%
▼ -3.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$422M
▲ +12.6% YoY
Op. Cash Flow (TTM)
$425M
▲ +13.4% YoY
Net Debt
$936M
Cash & Equiv.
$76M
5Y CAGR: +11.0%
5Y CAGR: +9.5%
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