Ameriprise Financial Inc. (AMP) intrinsic value & 10-year financials
Ameriprise Financial Inc. (AMP) has a Graham intrinsic value of $766.86 per share. At $500.80 on Oct 17, 2026, the stock trades 35% below that value. Over the last 10 fiscal years revenue grew 5.4% a year to $18.9B, with an average return on invested capital of 50.5%.
- Graham intrinsic value
- $766.86
- Share price (Oct 17, 2026)
- $500.80
- Price vs Graham value
- 35% below
- Market cap
- $49.2B
- Revenue (FY2025)
- $18.9B
- Revenue growth (10-yr CAGR)
- 5.4%
- ROIC (10-yr avg)
- 50.5%
- Free cash flow (FY2025)
- $8.2B
AMP 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $18.9B | $3.6B | $36.28 | $8.2B | — | 60.5% |
| FY2024 | $17.9B | $3.4B | $33.05 | $6.4B | — | 68.3% |
| FY2023 | $16.1B | $2.6B | $23.71 | $4.5B | — | 61.3% |
| FY2022 | $14.3B | $2.6B | $22.51 | $4.2B | — | 55.0% |
| FY2021 | $13.4B | $2.8B | $23.00 | $3.2B | — | 47.8% |
| FY2020 | $12.0B | $1.5B | $12.20 | $4.5B | — | 58.7% |
| FY2019 | $13.1B | $1.9B | $13.92 | $2.2B | — | 72.4% |
| FY2018 | $12.9B | $2.1B | $14.20 | $2.4B | — | 36.2% |
| FY2017 | $12.1B | $1.5B | $9.44 | $1.5B | — | 24.1% |
| FY2016 | $11.7B | $1.3B | $7.81 | $1.9B | — | 20.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Ameriprise Financial has demonstrated mature, steady growth, with revenue compounding at 5.4% annually over the past decade.
Ameriprise Financial has earned high returns on invested capital, averaging 65.6% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, Ameriprise Financial shows that management has aggressively returned capital to shareholders by retiring 41.6% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Ameriprise Financial is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $766.86 per share.