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Man Group PLCEMG.LCompetitor analysis, valuation and peers

United Kingdom · GBP·Financials›Investment Managers

UK-listed global asset manager running quantitative and discretionary investment strategies for institutional clients.

≈ A publicly listed, hedge-fund-style AQR/Two Sigma peerMomentum weak 31
Mkt cap
$4.43B
US dollars, full cap
Free float
98%
of shares outstanding
$/day
$16.4M
20-day average traded
Fwd P/E
8.4×
forward earnings
ROIC−WACC
n/a
WACC 11.7%
Hurdle
n/a
no reverse DCF
Next earnings
116 days
2 Mar 2027
Close · GBP£297.00
1D-7.7%
1W-10.9%
1M-10.2%
3M-4.2%
6M+9.7%
YTD+29.8%
1Y+42.9%
ATR %4.1%
52w lowhigh14.8% off high

What Man does

UK-listed global asset manager running quantitative and discretionary investment strategies for institutional clients.

Charges a management fee on assets plus a performance fee when a fund gains above its previous peak, so income is steady only in the first part. A 2010 purchase of GLG added discretionary managers to its computer-driven core. Founded in 1783 as a sugar and commodity trader, it is now purely an asset manager.

In one line: A publicly listed, hedge-fund-style AQR/Two Sigma peer.

Products and services

  • Man AHL (systematic/quant strategies)
  • Man GLG (discretionary strategies)
  • Man Numeric (quant equities)
  • Man FRM (fund of hedge funds)

Customers

  • Institutional investors (pensions, sovereign wealt
  • Wealth managers/private clients

Where it sits in the supply chain

  • Financials
  • Asset management
  • Quantitative & discretionary investment…

What could go right

  • Institutional allocation to alternatives
  • AUM growth via performance

What could go wrong

  • Performance-fee revenue volatility
  • Fee compression in asset management

Moat: narrow (brand, scale, data). Long track record and proprietary quant research/data infrastructure across strategies.

Headquarters: London, UK · Founded: 1783 · Employees: 1,719

Named competitors

  • AQR Capital Management private or unlisted
  • Amundi AMUN.PA
  • Schroders SDR.L
  • Ninety One N91.L

Man at a glance

Size Man (EMG.L) is a United Kingdom Financials company (Investment Managers) with a market value of $4.43B, the 103rd largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £297.00 on 6 Nov 2026.

Performance Over six months the shares gained 9.7%, against +0.6% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 7th highest of 21 in its peer set.

Growth Revenue grew 23.6% over the last twelve months (peer median +13.3%); the operating margin is 28.2% (peer median 32.8%).

Valuation It trades at 8.4× forward earnings against a peer median of 13.4× (2nd cheapest of 19).

Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).

Relative performance

9010011012011 May 202611 Aug 20266 Nov 2026EMG.L 107Peer median 101
Six months, rebased to 100: Man against the median of its 20 peers (local-currency closes).

Man financials

Reported figures in GBP; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue£1.30B£1.11B£1.18B£995M£1.41B
Revenue growth—-6%+19%-29%—
Gross profit£1.13B£952M£1.04B£864M£1.26B
EBITDA£427M£306M£388M£312M£680M
Net income£242M£133M£233M£188M£494M
Free cash flow£298M£194M£337M£214M£620M
Capital expenditure£30.8M£30.4M£32.1M£26.5M£36.5M
Total debtn/a£211M£198M£332M£210M

Quarterly statements and history in the cockpit →

Man 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%+40%-10%0%+10%1359ANANDRATHIFHIBPTCIGI360ONEHLNEHASI601108N91CNSRFAMPABDN601136NUVAMA0027971788STEP2799EMG.L6-month return →1-month return →
Up and to the right = strong over both horizons. Man is the large dot.

Fundamentals: revenue growth against valuation

-20%0%+20%+40%0×50×1359ANANDRATHIFHIBPTCIGI360ONEHASI601108CNSRFAMPABDN002797STEP2799EMG.LRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Man is the large dot.

Man competitors and peer comparison

Head to head with its named competitors (EMG.L vs AMUN.PA vs SDR.L vs N91.L)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
Man EMG.L$4.43B+10%+24%28%8.4×n/a
Amundi AMUN.PA$21.7B+9%+1%23%11.9×n/a
Schroders SDR.Ln/a+3%n/an/an/an/a
Ninety One N91.L$5.18B-6%+10%26%11.1×n/a

How Man 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.

Man against its 20 peers (data as of 6 Nov 2026)
MeasureEMG.LPeer medianRank in peer set
1-month return-10.2%+2.7%lowest of 21
6-month return+9.7%+0.6%7th highest of 21
Distance from 52-week high-14.8%-19.6%8th highest of 21
Revenue growth (TTM)+23.6%+13.3%7th highest of 21
Operating margin28.2%32.8%8th lowest of 21
Forward P/E8.4×13.4×2nd cheapest of 19

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
Man EMG.LUnited Kingdom$4.43B+10%+24%28%8.4×n/an/a
China Cinda Asset Management 1359.HKHong Kong$4.36B-21%-25%53%11.7×n/an/a
Anand Rathi Wealth ANANDRATHI.NSIndia$4.18B+31%+35%41%90.5×n/an/a
Federated Hermes FHIUnited States$4.73B+14%+13%28%10.9×n/an/a
Bridgepoint BPT.LUnited Kingdom$4.79B+55%+36%49%10.7×n/an/a
Colliers International CIGI.TOCanada$4.88B-5%+14%7%11.8×n/an/a
360 One Wam 360ONE.NSIndia$4.95B+3%+25%33%35.1×n/an/a
Hamilton Lane HLNEUnited States$4.99B+1%+19%58%12.3×n/an/a
HA Sustainable Infrastructure Capital HASIUnited States$5.00B-5%+27%69%12.6×n/an/a
Caitong Securities 601108.SSChina$5.12B-11%-12%31%10.7×n/an/a
Ninety One N91.LUnited Kingdom$5.18B-6%+10%26%11.1×n/an/a
Cohen & Steers CNSUnited States$3.76B+1%+13%33%20.1×n/an/a
Eurazeo RF.PAFrance$3.70B+2%+18%-2%28.7×n/an/a
AMP AMP.AXAustralia$3.69B+46%-5%-1%15.7×n/an/a
Aberdeen ABDN.LUnited Kingdom$5.36B+2%+2%37%14.3×n/an/a
Capital Securities 601136.SSChina$5.41B-21%+1%36%n/an/an/a
Nuvama Wealth Management NUVAMA.NSIndia$3.61B+25%+13%29%26.2×n/an/a
First Capital Securities 002797.SZChina$3.61B-24%-6%22%21.1×n/an/a
Guotai Junan International 1788.HKHong Kong$3.58B+10%+43%65%n/an/an/a
StepStone STEPUnited States$5.73B-15%+51%-53%18.1×n/an/a
China CITIC Financial Asset Management 2799.HKHong Kong$5.83B-24%-18%135%3.1×n/an/a

Questions

Who are Man's main competitors?
Named competitors: AQR Capital Management (private or unlisted), Amundi (AMUN.PA), Schroders (SDR.L), Ninety One (N91.L). The cockpit's measured peer set (industry) also includes China Cinda Asset Management (1359.HK), Anand Rathi Wealth (ANANDRATHI.NS), Federated Hermes (FHI), Bridgepoint (BPT.L), Colliers International (CIGI.TO), 360 One Wam (360ONE.NS).
Is Man expensive compared with its peers?
On forward p/e it trades at 8.4× against a peer median of 13.4×, 2nd cheapest of 19 in its peer set.
How has Man stock performed?
Over six months to 6 Nov 2026 the shares returned +9.7% against +0.6% for the median peer; over one year +42.9%.

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.