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← CockpitCompetitor Analysis › AMUN.PA Amundi SAOpen in the cockpit ↗

Amundi SAAMUN.PACompetitor analysis, valuation and peers

France · EUR·Financials›Investment Managers

France's largest asset manager, offering mutual funds, ETFs and institutional investment management, majority-owned by Credit Agricole.

Momentum strong 76
Competitor Analysis ▸ ChartsOpen in the cockpitBonds & Credit
Mkt cap
$21.7B
US dollars, full cap
Free float
31%
of shares outstanding
$/day
$15.2M
20-day average traded
Fwd P/E
11.9×
forward earnings
ROIC−WACC
n/a
WACC 10.4%
Hurdle
n/a
no reverse DCF
Close · EUR€93.95
1D-0.3%
1W+3.1%
1M+8.3%
3M-1.7%
6M+9.4%
YTD+33.1%
1Y+39.3%
ATR %2.0%
52w lowhigh3.8% off high

What Amundi does

France's largest asset manager, offering mutual funds, ETFs and institutional investment management, majority-owned by Credit Agricole.

Earns fees as a share of assets managed, largely on money its partner banks' customers place with it, supplemented by performance fees. It grew by acquisition: Pioneer from UniCredit in 2017 and Lyxor's ETF business from Societe Generale in 2021.

Products and services

  • Active mutual funds
  • ETFs
  • Institutional/insurance asset management
  • Real assets/alternatives

Customers

  • Retail investors (via bank networks)
  • Institutional investors, insurers

Where it sits in the supply chain

  • Financials
  • Asset management
  • Mutual funds, ETFs & institutional…

What could go right

  • Passive/ETF asset growth
  • Asian retail wealth management penetration

What could go wrong

  • Fee compression in active management
  • AUM sensitivity to market levels

Moat: narrow (scale, distribution). Large scale and bank-distribution network (Credit Agricole, Societe Generale) across Europe and Asia.

Headquarters: Paris, France · Founded: 2010 · Employees: 5,329

Named competitors

Amundi at a glance

Size Amundi (AMUN.PA) is a France Financials company (Investment Managers) with a market value of $21.7B, the 32nd largest of 206 France companies the cockpit tracks. Shares closed at €93.95 on 6 Nov 2026.

Performance Over six months the shares gained 9.4%, against +6.5% for the median peer and -0.4% for the France market (cap-weighted) — 7th highest of 21 in its peer set.

Growth Revenue grew 1.2% over the last twelve months (peer median +10.5%); the operating margin is 23.0% (peer median 34.0%).

Valuation It trades at 11.9× forward earnings against a peer median of 13.2× (10th cheapest of 21).

Credit Amundi has 17 bonds outstanding ($7.53B).

Relative performance

10011011 May 202611 Aug 20266 Nov 2026AMUN.PA 111Peer median 106
Six months, rebased to 100: Amundi against the median of its 20 peers (local-currency closes).

Amundi financials

Reported figures in EUR; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue€7.12B€7.04B€6.43B€5.79B€5.93B
Revenue growth—+10%+11%-2%—
Gross profit€3.48B€3.73B€3.37B€3.05B€3.09B
EBITDA€1.75B€2.11B€1.82B€1.60B€1.45B
Net income€1.35B€1.59B€1.31B€1.16B€1.07B
Free cash flow€2.44B€1.73B€1.52B€1.49B-€234M
Capital expenditure€107M€93.6M€68.6M€53.4M€50.2M
Total debtn/a€2.02B€2.36B€2.19B€2.04B

Quarterly statements and history in the cockpit →

Amundi competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-20%0%+20%0%+10%PGHNPSTROW6010666099PFGTPG8604BENCVCARESOWLICICIAMCDWSCG002736IGMIAGAMUN.PA6-month return →1-month return →
Up and to the right = strong over both horizons. Amundi is the large dot.

Fundamentals: revenue growth against valuation

0%+20%+40%+60%10×20×30×40×PGHNPSTROW6010666099PFGTPG8604CVCARESICICIAMCNTRSDWSCG002736IGMAMUN.PARevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Amundi is the large dot.

Amundi competitors and peer comparison

Head to head with its named competitors (AMUN.PA vs BLK vs DWS.DE vs SDR.L)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
Amundi AMUN.PA$21.7B+9%+1%23%11.9×n/a
BlackRock BLK$192B+9%+24%36%18.9×n/a
DWS Group GmbH & Co. KGaA DWS.DE$14.7B+7%+24%37%12.6×n/a
Schroders SDR.Ln/a+3%n/an/an/an/a
Aberdeen ABDN.L$5.36B+2%+2%37%14.3×n/a
Invesco IVZ$11.9B-1%+17%24%8.6×n/a
Legal & General LGEN.L$21.9B+24%+137%2%13.1×n/a

How Amundi compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Amundi against its 20 peers (data as of 6 Nov 2026)
MeasureAMUN.PAPeer medianRank in peer set
1-month return+8.3%+2.6%4th highest of 21
6-month return+9.4%+6.5%7th highest of 21
Distance from 52-week high-3.8%-15.8%highest of 21
Revenue growth (TTM)+1.2%+10.5%4th lowest of 21
Operating margin23.0%34.0%8th lowest of 21
Forward P/E11.9×13.2×10th cheapest of 21

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Amundi AMUN.PAFrance$21.7B+9%+1%23%11.9×n/an/a
Partners PGHN.SWSwitzerland$21.3B-24%+9%56%16.7×n/an/a
Pershing Square PSUnited States$20.6B+24%+67%37%84.9×n/an/a
T. Rowe Price TROWUnited States$23.1B+4%+7%36%10.8×n/an/a
CSC Financial 601066.SSChina$23.4B-3%-2%49%14.2×n/an/a
China Merchants Securities 6099.HKHong Kong$20.2B-10%+98%34%4.5×n/an/a
Principal Financial PFGUnited States$23.6B+10%+5%15%11.3×n/an/a
TPG TPGUnited States$17.9B+4%+21%17%13.8×n/an/a
Nomura 8604.TJapan$26.5B+15%+12%12%9.0×n/an/a
Franklin Resources BENUnited States$17.1B+10%+8%15%10.6×n/an/a
CVC Capital Partners CVC.ASNetherlands$16.9B+10%+14%57%18.1×n/an/a
Ares Management ARESUnited States$30.0B+7%+7%27%20.5×n/an/a
Blue Owl Capital OWLUnited States$15.4B-7%+11%17%10.4×n/an/a
ICICI Prudential Asset Management ICICIAMC.NSIndia$15.4B-11%+22%73%39.2×n/an/a
Raymond James Financial RJFUnited States$31.3B+6%+10%21%11.4×n/an/a
Northern Trust NTRSUnited States$31.3B+8%+7%24%13.7×n/an/a
DWS Group GmbH & Co. KGaA DWS.DEGermany$14.7B+7%+24%37%12.6×n/an/a
Carlyle CGUnited States$14.1B-22%-44%14%10.2×n/an/a
Guosen Securities 002736.SZChina$13.9B-16%-10%34%7.9×n/an/a
IGM Financial IGM.TOCanada$13.3B+7%+20%36%14.0×n/an/a
iA Financial IAG.TOCanada$13.1B+29%+13%59%13.9×n/an/a

Amundi bonds and credit

Amundi has 17 bonds outstanding with $7.53B face value.

Every bond, yield and spread in the cockpit →

Questions

Who are Amundi's main competitors?
Named competitors: BlackRock (BLK), DWS Group (DWS.DE), BNP Paribas Asset Management (private or unlisted), Schroders (SDR.L), Aberdeen Group (ABDN.L), Invesco (IVZ). The cockpit's measured peer set (industry) also includes Partners (PGHN.SW), Pershing Square (PS), T. Rowe Price (TROW), CSC Financial (601066.SS), China Merchants Securities (6099.HK), Principal Financial (PFG).
Is Amundi expensive compared with its peers?
On forward p/e it trades at 11.9× against a peer median of 13.2×, 10th cheapest of 21 in its peer set.
How has Amundi stock performed?
Over six months to 6 Nov 2026 the shares returned +9.4% against +6.5% for the median peer; over one year +39.3%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.