AMP Limited

AMP.AX

Asset Management · Financial Services

Price

A$2.39

+0.00 (+0.00%)

Market Cap

A$5.81B

Exchange

Australian Securities Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Weak

Valuation

Good

Dividends

Mixed

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Share count falling — buybacks

−23.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 3.33B (2021) → 2.56B (2025)

Winston Score History

The full picture

AMP Limited is an Australian financial services company that helps everyday people manage their money, save for retirement, and protect their finances. Its main products include superannuation (retirement savings accounts), investment platforms, financial advice, and banking services. AMP is one of Australia's oldest and largest wealth management firms, with roots going back to 1849.

AMP makes most of its money through fees charged on the assets it manages and administers for customers, plus fees from its banking and advice businesses. It operates primarily in Australia and New Zealand, managing roughly $130 billion in assets. AMP's large existing customer base and established platforms give it some staying power, but the company has faced years of customer outflows, regulatory pressure, and reputational damage following a major misconduct scandal uncovered in 2018. The key challenge going forward is whether AMP can stabilize its shrinking advice business and stop customers from moving their retirement savings to competitors.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-6.4% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+57.4% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

A$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

0.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~7 years

A$32.2B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

A$32.2B cash & investments at current burn rate

Revenue declining

AMP Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

37.9%

Modest — 37.9% gross margin

Profit after running costs

Operating Margin

5.7%

Thin — 5.7% operating margin

Return on the money invested

ROCE

-0.0%

Weak — -0.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-7.3%

Shrinking sales (-7.3% YoY)

Profit growth

EPS YoY

+4.5%

Modest earnings growth (+4.5% YoY)

Single-digit earnings growth — steady but not exciting.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

-1251%

Weak — only -1251% of profit becomes cash

Spare cash per sale

FCF Margin

-94.7%

Burning cash (-94.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

7.78

Heavy debt load (7.78)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

32.0x

Pricey — P/E 32.0

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+16.3

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (32.0 → 15.7)

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Dividends

Dividend

Dividend Yield

2.51%

Moderate income — 2.51% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

-52.9%

Dividend cut (-52.9% YoY) — warning sign

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