Ashmore Group (ASHM) Fair Value & Analysis
Financial Services · GB · Market cap 1.4B GBX
Fair value as of: Jul 11, 2026
From 12 valuation models · updated 29 days ago
Share price +5.6% over the past month.
A strong business, but screening 21% overvalued on our models.
What matters now
- A high-quality business (quality 79/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- 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)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.
How to read this chart
60‑month range £1.09 – £2.60 · fair‑value band £1.26 – £2.11 · the £2.14 price screens above the £1.69 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.
Analysis
Ashmore Group (ASHM) currently trades at £2.14, while our model-based Fair Value estimate is £1.69, implying the stock looks roughly 21.1% overvalued today. The Quality Score stands at 79/100 (high quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Ashmore Group generated revenue of £132M at a net margin of 85.7%. Revenue declined 12.9% year over year. It earns a return on equity of 14.5%. The balance sheet holds a net cash position of £344M. Fundamentals as of Jul 11, 2026
Our scenario range runs from £1.26 (bear case) to £2.11 (bull case); at £2.14, 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 -12% fair-value upside, at -21%, ASHM screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 12 models by family
Widest divergence: DCF Models (£1.83) versus Asset-Based (£0.8100). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 76 · Market factors (momentum, volatility) 59
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.
About the company
Ashmore Group plc is a publicly owned investment manager. The firm primarily provides its services to retail and institutional clients. It manages separate client-focused equity and fixed income portfolios. The firm also launches and manages equity and fixed income mutual funds for its clients.
Full company description
Ashmore Group plc is a publicly owned investment manager. The firm primarily provides its services to retail and institutional clients. It manages separate client-focused equity and fixed income portfolios. The firm also launches and manages equity and fixed income mutual funds for its clients. It invests in the public equity and fixed income markets in emerging markets across the globe. The firm focuses on a number of investment themes including external debt, local currency, corporate debt, blended debt, alternatives (which include special situations, real estate and infrastructure) equities Overlay/Liquidity and Multi-Asset. The firm employs combination of fundamental analysis to make its investments. Ashmore Group Plc was founded in 1992 and is based in London, United Kingdom.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Ashmore Group reported revenue of £144M in FY2025 versus £425M in FY2021, a compound −23.6%/yr. Reported net income was £81.2M in FY2025, compounding −23.7%/yr from FY2021.
ASHM screens 21% overvalued. Compare with Fondul Proprietatea SA →
Peer Group
Asset Management · 973 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.
Valuation Multiples vs Asset Management median · lower = cheaper
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.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Fondul Proprietatea SA FP | $0.0420 | $0.0800 | +90% |
| BlackRock, Inc BLK | $1,136 | $465.75 | -59% |
| Blackstone Inc BX | $124.56 | $16.35 | -87% |
| Investor AB INVEB | kr 423.70 | kr 847.40 | +100% |
| Brookfield Corporation BN | C$62.45 | C$10.12 | -84% |
| KKR & Co KKR | $100.94 | $44.88 | -56% |
| AB Industrivärden INDUA | kr 532.50 | kr 1,065 | +100% |
| Jio Financial Services Limited JIOFIN | ₹242.98 | ₹40.19 | -83% |
| Hedef Holding HEDEF | 267.25 TRY | 320.98 TRY | +20% |
| Bajaj Holdings BAJAJHLDNG | ₹10,398 | ₹9,202 | -12% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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