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Research · S&P 500 · Financials

AMP · Ameriprise Financial

The numbers, the scorecard and what analysts say, with the source for each. Information, not advice.

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Value Scorecard · run 2026-10-18

13 value checks: 12 scored 1 to 5 where the data allows, plus moat evidence

47/55
high value score11 of 12 checks scored

11 of the 12 checks that carry a score were scored from the data available. 1 could not be scored (ROIC) and was left out, so the score is out of 55 instead of 60. The label uses the same share of the available points as for a full scorecard. The moat is shown as evidence from the filings, without a score.

Earnings & returns

EPS Trend

4/5

Diluted EPS: $27.70 (2022), $23.71 (2023), $33.05 (2024), $36.28 (2025). It rose every year but one and ended above 2022; the framework scores that as 4.

ROE Trend

5/5

ROE (net income / common equity): 82.8% (2022), 54.0% (2023), 65.1% (2024), 54.4% (2025). Median 59.7%, lowest 54.0%; the framework scores a median above 20% as 5.

ROIC

Not scored

ROIC not available: the 10-K financial data filed with the SEC has no standard operating income figure (or pre-tax income and interest expense), total assets and current liabilities for the same fiscal year.

Profit Margins

4/5

Net margin of 19.9%; the framework scores 10-20% as 4; gross margin 54.9%, operating margin 30.7%.

Balance sheet & cash

Debt-to-Equity

5/5

Net cash: total debt $4.30B, total cash $10.30B. The framework scores a net cash position as 5.

Free Cash Flow

5/5

Free cash flow (operating cash flow minus capital expenditure): $4.22B (2022), $4.50B (2023), $6.42B (2024), $8.16B (2025). It rose every year; the framework scores that as 5.

Retained Earnings

5/5

Retained earnings, as filed in the 10-Ks (SEC EDGAR): $19.92B (2022), $21.91B (2023), $24.71B (2024), $27.66B (2025). It rose every year; the framework scores that as 5.

Valuation models

Graham IV

5/5

IV = EPS x (8.5 + 2g) x (4.4 / Y) = $41.42 x (8.5 + 2 x 20.0) x (4.4 / 4.5) = $1,964.23 (EPS CAGR 23.7% capped at 20%). Current price $500.80; price is 74.5% below the model value.

DCF Value

4/5

FCF/share = $32.841, stage 1 growth = 9.1% for 5 years, terminal growth = 3%, discount rate = 10%. Stage 1 PV = $160.22, PV of terminal value = $463.78, DCF value = $624.00. Current price $500.80; price is 19.7% below the model value.

Margin of Safety

4/5

Graham value $1,964.23 (price is 74.5% below the model value); DCF value $624.00 (price is 19.7% below the model value).

Price-to-Book

1/5

P/B of 6.96; the framework scores above 5.0 as 1.

Business quality

Moat Evidence

Not scored

A moat (a brand, a network, switching costs, patents, scale, a licence) is not a number in the filings, so Valerius doesn’t score it. Below are the figures and the words moat analysis starts from, from the company’s own 10-K filings. The conclusion is yours.

Return on capital, each year

Not available: the 10-K financial data has no standard figures for operating income, total assets and current liabilities in the same years, as is common for banks, insurers and REITs.

Gross margin, each year

Not reported: the filings don’t state a gross profit or cost of revenue figure, as is common for oil and gas companies, banks and insurers.

Competition, in the company’s own words · 10-K filed Feb 19, 2026

We operate in a highly competitive global industry. As a diversified financial services firm, we compete directly with a variety of financial institutions, including registered investment advisers, securities brokers, asset managers, banks and insurance companies. We directly compete for the provision of products and services to clients, as well as for our financial advisors and investment management

The opening of the company’s “Competition” section in its 10-K, quoted word for word, not summarized or edited. It is the company’s own description, not Valerius’s view, and may include the company’s expectations. Open the filing.

Return on capital = operating income / (total assets − current liabilities), the ROIC row’s definition; 15% is the framework’s return threshold. Gross margin = gross profit / revenue. Both from each year’s 10-K via SEC EDGAR. Moat analysis commonly looks at whether returns and margins held up over many years. These figures don’t say whether the company has an advantage, what it is, or whether it will last.

Capital Allocation

5/5

Capital allocation, 2022-2025: dividends or buybacks paid in every year (pass); $11.71B paid out against $23.31B of free cash flow (pass); total debt $5.38B to $5.86B, up 8.9% (pass: not up more than 10%); shares outstanding 0.11B to 0.09B, down 13.3% (pass). 4 of 4 tests passed; the framework scores that as 5.

Filings

Company notices to the SEC

Not scored

Three kinds of event the company reported to the SEC in the last 5 years, from its filings on SEC EDGAR.

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These are events the company reported to the SEC. An auditor change or a late filing can have many causes; each date links to the filing, where the company explains it. Valerius does not score these.

How the Graham and DCF values were calculated
  Graham Formula:
    IV = EPS x (8.5 + 2g) x (4.4 / Y)
    EPS = $41.42, g = 20.0%, Y = 4.5
    g capped at 20.0% (3-year EPS CAGR was 23.7%)
    IV = $1,964.23
    Current price $500.80 vs Graham value $1,964.23 — price is 74.5% below the model value.

  DCF:
    FCF/share = $32.841
    Stage 1 growth = 9.1% for 5 years | terminal growth = 3.0% | discount rate = 10.0%
      Y1: $35.829 → PV $32.572
      Y2: $39.090 → PV $32.306
      Y3: $42.647 → PV $32.041
      Y4: $46.528 → PV $31.779
      Y5: $50.762 → PV $31.519
    Stage 1 PV sum = $160.22
    Terminal value at end of Y5 = $746.92
    PV of terminal value = $463.78
    DCF value = $624.00
    Current price $500.80 vs DCF value $624.00 — price is 19.7% below the model value.

Data from yfinance summary figures and financial statements, and from the company’s 10-K filings via SEC EDGAR; computed at a price of $500.80. Every score is calculated from the figures by the framework’s fixed rules, and the explanation beside it is generated from the same figures: Graham value, DCF value, margin of safety, ROIC, profit margins, debt-to-equity, price-to-book, EPS trend, ROE trend, free cash flow, retained earnings and capital allocation. No AI is involved in this scorecard. The moat is shown as evidence, without a score. Read each score with the figures beside it. A check that cannot be scored from the available data is shown as not scored and left out of the composite score. Intrinsic value calculations are model outputs based on stated assumptions, not predictions.

Recent headlines · third-party publishers · not investment advice

In the news

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The 8 newest headlines whose title names the company, shown automatically and never chosen by Valerius. From third-party publishers via Yahoo Finance, linked to the source. Valerius doesn't write or endorse them. Not investment advice.