Latest Ratios: P/E Ratio 14.0x · EV/EBITDA 8.2x · ROE 60.5%. (2004–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $45.7B | $47.2B | $54.8B | $40.9B | $35.4B | $36.2B | $24.4B | $22.7B | $15.4B | $26.6B | $18.7B |
| Enterprise Value | $41.4B | $43.0B | $51.7B | $39.1B | $33.7B | $34.1B | $22.5B | $23.8B | $17.1B | $29.2B | $21.6B |
| P/E Ratio → | 13.97 | 13.49 | 16.11 | 16.02 | 11.24 | 10.59 | 15.93 | 11.97 | 7.35 | 17.95 | 14.20 |
| P/S Ratio | 2.41 | 2.50 | 3.05 | 2.54 | 2.47 | 2.67 | 2.03 | 1.74 | 1.19 | 2.16 | 1.58 |
| P/B Ratio | 7.47 | 7.21 | 10.48 | 8.66 | 9.31 | 6.09 | 4.16 | 3.95 | 2.76 | 4.43 | 2.97 |
| P/FCF | 15.78 | 16.32 | 8.54 | 9.10 | 8.38 | 11.29 | 5.46 | 10.31 | 6.33 | 17.26 | 9.93 |
| P/OCF | 15.78 | 16.32 | 8.31 | 8.74 | 8.03 | 10.89 | 5.28 | 9.68 | 5.94 | 15.61 | 9.47 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.27 | 2.88 | 2.43 | 2.35 | 2.52 | 1.87 | 1.82 | 1.32 | 2.38 | 1.84 |
| EV / EBITDA | 8.21 | 8.52 | 10.77 | 10.41 | 7.81 | 9.01 | 9.94 | 9.36 | 5.71 | 10.54 | 10.07 |
| EV / EBIT | 8.57 | 8.90 | 11.25 | 11.00 | 8.16 | 9.64 | 11.30 | 9.70 | 6.25 | 11.99 | 11.66 |
| EV / FCF | — | 14.86 | 8.06 | 8.70 | 7.97 | 10.65 | 5.03 | 10.81 | 7.03 | 18.99 | 11.50 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.4% | 50.4% | 50.9% | 51.7% | 53.6% | 57.8% | 47.8% | 49.1% | 48.4% | 47.8% | 45.3% |
| Operating Margin | 25.5% | 25.5% | 25.6% | 22.1% | 28.8% | 26.7% | 17.1% | 18.0% | 21.6% | 20.7% | 16.1% |
| Net Profit Margin | 18.8% | 18.8% | 18.9% | 15.9% | 22.0% | 20.4% | 12.8% | 14.5% | 16.2% | 12.0% | 11.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 60.5% | 60.5% | 68.3% | 59.9% | 64.6% | 46.7% | 26.5% | 33.5% | 36.2% | 24.1% | 17.9% |
| ROA | 1.9% | 1.9% | 1.9% | 1.5% | 1.9% | 1.6% | 1.0% | 1.3% | 1.5% | 1.0% | 0.9% |
| ROIC | 31.3% | 31.3% | 32.6% | 27.1% | 30.5% | 24.7% | 14.4% | 16.8% | 19.4% | 16.6% | 9.3% |
| ROCE | 2.6% | 2.6% | 2.6% | 2.1% | 2.5% | 2.1% | 1.3% | 1.6% | 2.0% | 1.8% | 1.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.90 | 0.90 | 1.05 | 1.22 | 1.42 | 0.87 | 0.84 | 0.86 | 0.86 | 0.88 | 0.86 |
| Debt / EBITDA | 1.16 | 1.16 | 1.14 | 1.53 | 1.25 | 1.37 | 2.18 | 1.94 | 1.60 | 1.91 | 2.53 |
| Net Debt / Equity | — | -0.65 | -0.58 | -0.38 | -0.45 | -0.35 | -0.32 | 0.19 | 0.31 | 0.45 | 0.47 |
| Net Debt / EBITDA | -0.84 | -0.84 | -0.63 | -0.48 | -0.40 | -0.54 | -0.84 | 0.43 | 0.57 | 0.97 | 1.37 |
| Debt / FCF | — | -1.47 | -0.48 | -0.40 | -0.41 | -0.64 | -0.42 | 0.50 | 0.70 | 1.74 | 1.57 |
| Interest Coverage | 14.82 | 14.82 | 13.93 | 10.98 | 20.85 | 18.45 | 12.23 | 11.33 | 10.63 | 10.84 | 7.10 |
Net cash position: cash ($10.1B) exceeds total debt ($5.9B)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.87 | 7.87 | 107.24 | 98.84 | 42.32 | 277.60 | 254.81 | 219.73 | 200.70 | 196.67 | 192.57 |
| Quick Ratio | 7.87 | 7.87 | 107.24 | 98.84 | 42.32 | 277.60 | 254.81 | 219.73 | 200.70 | 196.67 | 192.57 |
| Cash Ratio | 3.18 | 3.18 | 12.16 | 10.07 | 4.73 | 36.24 | 34.23 | 19.04 | 15.41 | 13.10 | 12.43 |
| Asset Turnover | — | 0.10 | 0.10 | 0.09 | 0.09 | 0.08 | 0.07 | 0.09 | 0.09 | 0.08 | 0.08 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.2% | 6.4% | 1.0% | 1.3% | 1.5% | 1.4% | 2.0% | 2.2% | 3.3% | 1.8% | 2.6% |
| Payout Ratio | 84.9% | 84.9% | 16.9% | 21.5% | 17.0% | 18.5% | 32.4% | 26.6% | 24.1% | 33.2% | 36.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.2% | 7.4% | 6.2% | 6.2% | 8.9% | 9.4% | 6.3% | 8.4% | 13.6% | 5.6% | 7.0% |
| FCF Yield | 6.3% | 6.1% | 11.7% | 11.0% | 11.9% | 8.9% | 18.3% | 9.7% | 15.8% | 5.8% | 10.1% |
| Buyback Yield | 4.7% | 4.5% | 4.5% | 5.2% | 5.6% | 5.6% | 5.9% | 8.6% | 10.6% | 5.6% | 9.1% |
| Total Shareholder Yield | 10.8% | 10.9% | 5.5% | 6.5% | 7.1% | 7.0% | 7.9% | 10.8% | 13.9% | 7.4% | 11.7% |
| Shares Outstanding | — | $96M | $103M | $108M | $114M | $120M | $126M | $136M | $148M | $157M | $168M |
Regulatory cash sweep pressure
According to current market data, Ameriprise trades at a forward P/E of 10.22, which appears to reflect a conglomerate discount when compared to pure-play wealth management peers, despite the firm's consistent ability to generate high-margin, fee-based revenue streams across its integrated business segments.
The valuation multiple suggests that investors are applying a discount due to the capital-intensive nature of the Retirement & Protection segment, which is often mischaracterized as a legacy liability. This pricing may overlook the strategic value of the insurance arm as a stable, cash-generative engine that funds the firm's aggressive capital return program.
Based on reported financial statements, Ameriprise has maintained an ROIC trend fluctuating between 4.3% and 9.7% over the last ten quarters, suggesting that the firm's ability to compound capital is highly sensitive to market-driven asset valuations and the integration costs of recent acquisitions.
The variability in ROIC appears to be a function of the firm's shift toward a capital-light wealth management model, which requires significant upfront investment in advisor recruitment and technology. Investors should monitor whether the firm can sustain higher returns on capital as the BMO EMEA integration matures and the wealth management segment gains further scale.
As reported in recent SEC filings, the firm's debt-to-equity ratio has exhibited significant volatility, ranging from 0.53 to 1.22 over the past ten quarters, indicating that management actively adjusts its capital structure to navigate changing interest rate environments and regulatory capital requirements.
While the interest coverage ratio remains generally healthy, the fluctuation in debt levels suggests a tactical approach to balance sheet management rather than a fixed leverage policy. This flexibility appears necessary given the firm's dual exposure to market-sensitive wealth management and the actuarial-heavy insurance business.
Based on an analysis of the firm's financial profile, the Price-to-Book (P/B) ratio is the most commonly misapplied metric for Ameriprise, as it fails to account for the significant non-cash actuarial adjustments and the intangible value inherent in the firm's captive advisor network.
Using P/B to value this business obscures the true earning power of the wealth management segment, which is largely driven by human capital and proprietary technology rather than tangible assets. Analysts should instead prioritize Adjusted Operating Earnings or P/E multiples to better capture the firm's core profitability and capital-light growth trajectory.
Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying AMP stock.
Ameriprise Financial, Inc.'s current P/E ratio is 14.0x. The historical average is 14.4x. This places it at the 50th percentile of its historical range.
Ameriprise Financial, Inc.'s current EV/EBITDA is 8.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.9x.
Ameriprise Financial, Inc.'s return on equity (ROE) is 60.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 25.7%.
Based on historical data, Ameriprise Financial, Inc. is trading at a P/E of 14.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Ameriprise Financial, Inc.'s current dividend yield is 6.19% with a payout ratio of 84.9%.
Ameriprise Financial, Inc. has 50.4% gross margin and 25.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Ameriprise Financial, Inc.'s Debt/EBITDA ratio is 1.2x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.