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UK asset manager specializing in emerging-markets debt and equity investment strategies for institutional clients.
UK asset manager specializing in emerging-markets debt and equity investment strategies for institutional clients.
Earns management fees as a small slice of the assets it runs, so revenue rises and falls with the value of emerging-market bonds and shares and with client inflows, and adds performance fees when funds beat benchmarks. It also invests its own capital alongside clients.
In one line: A UK emerging-markets-focused asset manager.
Moat: narrow (brand, scale, data). Decades of specialized emerging-market research and trading infrastructure.
Headquarters: London, UK · Founded: 1992 · Employees: 282
Size Ashmore (ASHM.L) is a United Kingdom Financials company (Investment Managers) with a market value of $1.83B, the 169th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £206.40 on 6 Nov 2026.
Performance Over six months the shares fell 3.6%, against -8.2% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 9th highest of 20 in its peer set.
Growth Revenue grew 2.5% over the last twelve months (peer median +6.5%); the operating margin is 61.8% (peer median 28.2%).
Valuation It trades at 28.6× forward earnings against a peer median of 15.4× (2nd most expensive of 19).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | £160M | £140M | £154M | £220M | £219M |
| Revenue growth | — | -9% | -30% | 0% | — |
| EBITDA | £103M | £103M | £73.2M | £90.4M | £86.6M |
| Net income | £103M | £103M | £81.2M | £93.7M | £83.3M |
| Free cash flow | £41.9M | £41.9M | £69.0M | £129M | £140M |
| Capital expenditure | £20.8M | £20.8M | £27.4M | £800,000 | £400,000 |
| Total debt | n/a | £16.8M | £4.60M | £6.40M | £5.80M |
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.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ashmore ASHM.L | $1.83B | -4% | +2% | 62% | 28.6× | n/a |
| Aberdeen ABDN.L | $5.36B | +2% | +2% | 37% | 14.3× | n/a |
| BlackRock BLK | $192B | +9% | +24% | 36% | 18.9× | n/a |
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.
| Measure | ASHM.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.8% | -2.4% | 10th lowest of 20 |
| 6-month return | -3.6% | -8.2% | 9th highest of 20 |
| Distance from 52-week high | -25.4% | -29.3% | 9th highest of 20 |
| Revenue growth (TTM) | +2.5% | +6.5% | 9th lowest of 21 |
| Operating margin | 61.8% | 28.2% | 4th highest of 20 |
| Forward P/E | 28.6× | 15.4× | 2nd most expensive of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ashmore ASHM.L | United Kingdom | $1.83B | -4% | +2% | 62% | 28.6× | n/a | n/a |
| Barrenjoey BJY.AX | Australia | $1.74B | +1% | -17% | 25% | 15.4× | n/a | n/a |
| Patria Investments PAX | United States | $1.55B | -23% | +9% | 36% | 6.8× | n/a | n/a |
| L1 Group Limited L1G.AX | Australia | $2.19B | +5% | +586% | 82% | 22.1× | n/a | n/a |
| Shaanxi International Trust 000563.SZ | China | $2.19B | -12% | -15% | 60% | n/a | n/a | n/a |
| Antin Infrastructure Partners ANTIN.PA | France | $1.52B | -25% | -12% | 48% | 13.4× | n/a | n/a |
| Zhejiang Orient 600120.SS | China | $2.22B | -22% | -87% | n/a | 15.5× | n/a | n/a |
| JF SmartInvest 9636.HK | Hong Kong | $1.47B | -36% | -23% | -5% | 18.8× | n/a | n/a |
| Perpetual PPT.AX | Australia | $1.42B | +11% | -16% | 10% | 12.5× | n/a | n/a |
| Mlp MLP.DE | Germany | $1.40B | +46% | +4% | 10% | 15.5× | n/a | n/a |
| Rathbones RAT.L | United Kingdom | $2.42B | -8% | +5% | 26% | 9.9× | n/a | n/a |
| ANIMA ANIM.MI | Italy | $2.42B | -5% | +1% | 28% | 7.6× | n/a | n/a |
| Perella Weinberg Partners PWP | United States | $1.35B | -26% | +2% | 6% | 9.6× | n/a | n/a |
| Pinnacle Investment Management PNI.AX | Australia | $2.54B | +2% | +22% | 10% | 19.2× | n/a | n/a |
| GCM Grosvenor GCMG | United States | $2.57B | +11% | +8% | 28% | 12.6× | n/a | n/a |
| Hainan Haide Capital Management 000567.SZ | China | $1.29B | -34% | +136% | 73% | 10.7× | n/a | n/a |
| Prudent Corporate Advisory Services PRUDENT.NS | India | $1.28B | -1% | +21% | 24% | 41.1× | n/a | n/a |
| Caida Securities 600906.SS | China | $2.78B | -11% | +10% | 36% | 19.7× | n/a | n/a |
| EAAA India Alternatives EDELALTS.NS | India | $1.15B | n/a | +13% | 62% | n/a | n/a | n/a |
| WisdomTree WT | United States | $2.94B | +2% | +45% | 40% | 15.4× | n/a | n/a |
| Sprott SII.TO | Canada | $2.96B | -17% | +88% | 38% | 25.6× | n/a | n/a |