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Man Group PLC (EMG) Fair Value & Analysis

Financial Services · GB · Market cap 3.3B GBX · ISIN JE00BJ1DLW90

What is Man Group PLC really worth?

MG Man Group PLC EMG · LSE
Price£3.08
Fair Value£1.53
Upside−50.3%
Quality66/100

A solid business, but trading 101% above our fair value of £1.53.

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Strengths

Solidly profitable · 12.5% net margin
Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y +9.7 %/yr)
!Mixed vs. peers (8/15)
!Moderate moat 59/100

For context

·4.11% dividend yield
Evidence: High Range £1.15 – £1.92

Fair value as of: Aug 20, 2026

From 12 valuation models · updated 16 days ago

Fair value updated Aug 20, 2026, revised from £2.09 to £1.53 (−26.8%) since Aug 13, 2026. Share price −2.7% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (£1.92). The favourable scenario is already priced in.
  • Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

£3.16 £1.35 Fair Value £1.53 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range £1.35 – £3.16 · fair‑value band £1.15 – £1.92 · the £3.08 price screens above the £1.53 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

Man Group PLC (EMG) currently trades at £3.08, while our model-based Fair Value estimate is £1.53, implying the stock looks roughly 101.0% overvalued today. The Quality Score stands at 66/100 (solid quality), in the Financial Services sector. Bull case: the Growth DCF group reads highest at a median of £3.16 per share, and 3 of the 12 models we run sit above the £3.08 price. Bear case: the Asset-Based group reads lowest at £0.9500, and 9 of the 12 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Man Group PLC generated revenue of £1.4B at a net margin of 12.5%. Revenue grew 14.3% year over year. It earns a return on equity of 11.0%. The balance sheet holds a net cash position of £7.1M. Fundamentals as of Aug 20, 2026

Our scenario range runs from £1.15 (bear case) to £1.92 (bull case); at £3.08, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −50%, EMG screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF best evidence £2.66 £3.53 £4.64 80
Owner Earnings £2.38 £3.22 £4.35 77
Residual Income £1.28 £1.44 £2.11 76
All 12 models by family
DCF Models
Owner Earnings £2.38 £3.22 £4.35 77
5Y P/E Exit £1.99 £2.70 £3.39 72
10Y P/E Exit £2.21 £2.83 £3.50 65
Earnings-Based
Graham-Dodd £1.09 £2.39 £3.04 66
Dividend Discount
Gordon GGM £1.59 £2.46 £3.36 68
DDM Multi-Stage £1.59 £2.27 £3.00 67
Multiples
P/E Multiple £1.56 £2.09 £2.61 63
P/B Multiple £1.48 £1.98 £2.47 55
Asset-Based
NCAV (Graham) £0.7100 £0.9500 £1.41 54
Growth DCF
Growth DCF best evidence £2.66 £3.53 £4.64 80
Rev-Margin DCF £2.23 £3.16 £4.15 73
Economic Profit
Residual Income £1.28 £1.44 £2.11 76

Widest divergence: Growth DCF (£3.16) versus Asset-Based (£0.9500). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/E ratio 28.0
P/S ratio 3.35 P/E × margin
EPS (TTM) £0.1100 price ÷ EPS = P/E 28.0
Dividend yield 4.1% payout 115%
Net margin 12.0% FY2025
Return on equity 11.0% TTM
More key figures
Profitability
Return on assets (EBIT) 12.5% avg 5y
Operating margin 27.6% TTM
Growth
Revenue (TTM) £1.4B TTM
Revenue growth (YoY) +14.3% 3y avg −4.9%
EPS growth (YoY) −6.0%
Balance sheet & cash flow
Free cash flow 261M GBX FY2025
Net cash 7.1M GBX FY2025

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 65 · Market factors (momentum, volatility) 82

Profitability 40
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 72
Price trend over the last 3–12 months (market factor)
52W Momentum 99
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Man Group Limited is a publicly owned investment manager. The firm provides long-only and alternative investment management services worldwide.

Full company description

Man Group Limited is a publicly owned investment manager. The firm provides long-only and alternative investment management services worldwide. It offers a range of liquid investment products and solutions, which include quantitative, multi-manager and discretionary investment styles, and span across various asset classes, like equity, real estate, currency, credit, volatility, and commodities. The firm distributes its products and solutions directly to institutions and to private investors through a global network of intermediaries. Man Group Limited was founded in 1783 and is based in St. Helier, Jersey with an additional office in London, United Kingdom.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Man Group PLC reported revenue of $1.5B in FY2025 versus $1.5B in FY2021, a compound +0.2%/yr. Reported net income was $179M in FY2025, compounding −22.2%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
£1.5B
Latest YoY
+4.0%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−4.9%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.7%
Avg. revenue growth/yr (24Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
+8.3% (4.2 + 4.1)
Revenue +0.2%/yr
FY21 $1.5B
FY22 $1.7B
FY23 $1.2B
FY24 $1.4B
FY25 $1.5B
Net income −22.2%/yr
FY21 $487M
FY22 $608M
FY23 $234M
FY24 $298M
FY25 $179M
Character of growth · EPS growth decomposed (2014-2025) +2.9 % p.a.
Revenue per share +6.2 %

of which total revenue +1.9 % · buybacks/dilution +4.2 %

EBIT margin −2.4 %
Tax rate −2.3 %
Residual (interest, one-offs) +1.6 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

EMG screens 101% overvalued. Compare with Blackstone Inc →

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Cite: Fair Value Calculator (2026). "Man Group PLC Fair Value". https://www.fairvalue-calculator.com/stock/EMG

Peer Group

Asset Management · 697 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 67 · Top 25%
Fair Value upside −50% · Bottom 25%
Return on equity (TTM) 11% · Above median
Return on assets 4% · Above median
Net margin (TTM) 12% · Below median
Operating margin (TTM) 28% · Below median
Revenue growth 14% · Above median
Dividend yield (TTM) 4.1% · Above median
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Asset Management median · lower = cheaper

P/E (TTM) 28.0× · Pricier than 75% of peers
P/B 2.87× · Pricier than 75% of peers
P/S (TTM) 3.22× · Cheaper than median
P/FCF 17.3× · Pricier than 75% of peers
EV/EBITDA 13.7× · Pricier than median
PEG 0.71× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 40
FUTURE72 · sector 14
PAST44 · sector 24
HEALTH100 · sector 95
DIVIDEND82 · sector 81

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $142.39 $52.88 −63%
Investor AB INVEB kr 417.20 kr 824.66 +98%
Brookfield Corporation BN C$55.74 C$10.67 −81%
KKR & Co KKR $108.68 $19.97 −82%
Apollo Global Management, Inc APO $135.04 $101.04 −25%
State Street Corporation STT $193.33 $138.33 −28%
Ameriprise Financial, Inc AMP $559.32 $515.24 −8%
Ares Management Corporation ARES $143.10 $30.88 −78%
Northern Trust Corporation NTRS $186.79 $122.02 −35%
Raymond James Financial, Inc RJF $181.10 $142.42 −21%

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Frequently asked questions

Is Man Group PLC (EMG) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of £1.53 versus a price of £3.08, about −50% upside (overvalued).
What is the fair value of EMG?
Our model-based fair value for Man Group PLC is £1.53 (as of Aug 20, 2026), built from audited fundamentals. The current price: £3.08.
What is the quality score of EMG?
Man Group PLC has a Quality Score of 66/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Man Group PLC (EMG)?
Man Group PLC reported trailing-twelve-month revenue of about £1.4B (latest available figure, as of Aug 20, 2026).
What is the net profit margin of EMG?
The net profit margin of Man Group PLC is about 12.5%, meaning it keeps roughly 12.5% of revenue as net income. Based on the latest reported figures.
Does Man Group PLC pay a dividend?
Man Group PLC currently shows a dividend yield of about 4.11% relative to its recent price (as of Aug 20, 2026).
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