Acadian Asset Management Inc.

AI-generated fair value estimate for this company.

Method: 10-year two-stage DCF on normalized distributable earnings: $101.4M TTM net income used as the normalized FCF base (reported TTM FCF was distorted negative by one-time items); 6% growth years 1-5; 4% years 6-10; 9% discount rate; 3% terminal growth; $192.9M net debt; 35.49M shares outstanding.

Reasoning: Asset managers typically convert net income to free cash flow near 1:1 given minimal capex, so I used normalized net income rather than the TTM reported free cash flow figure, which was depressed by non-recurring items around Acadian's recent listing; growth assumptions reflect expected AUM and fee growth.