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Artisan Partners Asset Management Inc.

APAM Financial Asset Management

Artisan Partners Asset Management Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 7.63% from fiscal 2024.

Revenue
+3.73%
EPS
+11.8%
Free cash flow
+168.5%
Total debt
+0.07%

Quarter to September 2026, against a year earlier

39.79 0.67 −1.66%
Market cap
$3.2B
P/E
9.4×
Fwd P/E
9.7×
Dividend yield
8.70%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.30
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — 1 — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 3,230.00
Revenue ttm 1,258.94
Net income ttm 375.21
Free cash flow ttm 327.35
Net debt Q (188.76)
Valuation
P/E 9.41
Forward P/E 9.70
Price / sales 2.10
Forward P/S Powerpack
Price / FCF 8.07
Price / book 5.44
Financial health
Current ratio Q 0.96
Debt / equity Q 0.39
Interest coverage Q 49.45
Growth
Revenue growth Q +3.73% (above 0%: growing)
Operating income growth Q +7.82% (above 0%: growing)
EPS, this year −0.76% (below 0%: weak)
EPS, next year A −8.53% (below 0%: weak)
Revenue, next year A +4.12%
EPS, past 5 yrs +3.56%
EPS, next 5 yrs A −2.32% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 16.06%
10-year low 10-year high
P/S against its own 10 years 51.96%
10-year low 10-year high
P/B against its own 10 years 2.79%
10-year low 10-year high

Dividends

Yield
8.70%
Annual rate
3.46
Payout ratio
81.8%
Growth, 2017–25
−1.77%/yr
  1. 1.80 ’17
  2. 2.40 ’18 +33
  3. 2.36 ’19 −2
  4. 2.11 ’20 −11
  5. 3.92 ’21 +86
  6. 2.95 ’22 −25
  7. 1.76 ’23 −40
  8. 2.14 ’24 +22
  9. 1.56 ’25 −27
  10. 4.03 ’26e +158
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 178 268 256 378
Receivables 115 128 165 154
Inventory — — — —
Other — — — —
308 409 441 562
2023 2024 2025 Q'26
Payables 26 139 46 63
ST’ Debt — — — —
Other — — — —
83 560 484 583

Compound Annual Growth %

10y 5y 3y
Sales 4.04% 5.87% 6.41%
Cash Flow (6.06%) (11.60%) (18.06%)
Earnings 14.99% 4.57% 13.06%
Book Value 15.16% 20.14% 19.62%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.98 Actual 1.03

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.11 1.26 Beat by 0.15
Q1 FY26 0.91 0.87 Miss by 0.04
Q2 FY26 0.92 0.94 Beat by 0.02
Q3 FY26 0.98 1.03 Beat by 0.05
Q4 FY26 1.07 — Reports 2 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.76 1.11 1.04 — —
’25 0.82 0.94 0.93 1.32 4.05
’24 0.84 0.80 1.03 0.97 3.66
’23 0.72 0.76 0.76 0.92 3.19
’22 0.90 0.62 0.65 0.76 2.94
’21 1.19 1.33 1.30 1.25 5.09
’20 0.53 0.72 0.93 1.15 3.40
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 303 308 313 — —
’25 277 283 301 336 1,197
’24 264 271 280 297 1,112
’23 235 243 249 249 975
’22 282 251 234 226 993
’21 291 305 317 315 1,227
’20 203 203 233 261 900
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 182 116 110 — —
’25 158 51 40 (77) 172
’24 147 76 113 37 373
’23 121 62 80 (10) 253
’22 191 27 89 6 313
’21 193 67 145 (6) 399
’20 120 83 95 20 319
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 181 115 108 — —
’25 158 51 40 (78) 171
’24 145 74 112 37 368
’23 118 61 78 (12) 244
’22 188 21 82 3 293
’21 191 64 144 (6) 393
’20 120 83 94 19 316
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 721 796 829 799 900 1,227 993 975 1,112 1,197 1,259 +5.8% 1,246 1,219 1,277 +2.2%
Gross margin, % 46.74 49.36 50.14 46.98 48.85 54.12 48.62 43.29 44.25 43.37 43.90 (3.4) pt
EBT 224 571 302 269 369 552 312 384 441 489 469 +9.0%
EBT margin, % 31.14 71.80 36.42 33.70 41.05 44.94 31.39 39.35 39.63 40.87 37.25 +9.7 pt
Net income 173 151 254 241 309 445 248 312 350 378 375 +9.1%
Per share, $
Per share, $ Revenue 18.90 17.82 16.96 15.63 16.17 20.50 15.90 15.37 17.13 18.24 18.97 (0.4%)
Earnings 1.57 0.75 2.84 2.65 3.40 5.10 2.94 3.19 3.66 4.05 4.23 +11.1%
Cash flow 7.09 5.06 6.82 5.73 5.73 6.66 5.00 3.99 5.74 2.62 4.98 (10.5%)
Capex (0.19) (0.13) (0.28) (0.35) (0.06) (0.10) (0.31) (0.14) (0.07) (0.01) (0.04) (27.7%)
Free cash flow 6.90 4.93 6.54 5.38 5.67 6.56 4.69 3.85 5.67 2.61 4.93 (10.2%)
Book value 3.09 2.42 2.88 2.71 3.43 4.94 4.47 5.54 6.50 7.29 7.31 +10.0%
Shares, m 38 45 49 51 56 60 62 63 65 66 66 +6.2%
Valuation, ×
Valuation, × P/E 19.68 50.86 7.87 12.43 15.12 9.40 10.50 13.91 11.83 10.16 9.41 16.2
P/S 1.62 2.17 1.30 2.07 3.11 2.32 1.93 2.86 2.51 2.23 2.10 2.2
P/B 9.95 15.97 7.69 11.93 14.66 9.64 6.88 7.94 6.62 5.59 5.44 9.7
EV/Sales 1.68 2.22 1.33 2.14 3.11 2.32 1.99 2.88 2.45 2.18 — 2.2
EV/FCF 4.61 8.02 3.46 6.21 8.87 7.26 6.75 11.50 7.40 15.21 — 7.9
Cash, $m
Cash, $m Operating cash flow 270 226 333 293 319 399 313 253 373 172 330 (4.9%)
Capex (7) (6) (14) (18) (3) (6) (20) (9) (5) (1) (3) (23.2%)
Free cash flow 263 220 319 275 316 393 293 244 368 171 327 (4.7%)
Balance, $m
Balance, $m Working capital (389) (151) (145) (208) (246) (147) (217) 225 (151) (43) (22) (21.8%)
Net debt 42 39 24 55 0 (1) 56 21 (69) (66) (189) n/m
Shareholders’ equity 118 108 140 139 191 296 279 351 422 478 485 +16.9%
Returns, %
Returns, % ROA 6.37 3.79 16.91 15.57 20.39 25.85 15.06 15.33 15.70 16.64 18.33 +10.3 pt
ROIC 91.62 121.44 116.04 91.63 117.33 114.65 64.17 50.99 64.87 60.65 88.55 (31.0) pt
ROE 51.20 29.74 111.74 97.05 129.04 125.29 63.95 64.18 61.41 59.07 61.29 +7.9 pt
People
People Employees 380 400 425 440 453 498 549 573 584 567 — +4.5%
Revenue/emp, $m 1.90 1.99 1.95 1.82 1.99 2.46 1.81 1.70 1.90 2.11 — +1.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Artisan Partners Asset Management Inc. vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GBDC Golub Capital BDC, Inc. $3.4B 19.9× 20.6× −14.02% (below 0%: shrinking) −35.29% (below 0%: shrinking) +196.17% (above 0%: growing) 100.00% 77.88% Compare
AAMI Acadian Asset Management Inc. $3.3B 26.2× — (loss-making) +32.59% (above 0%: growing) +155.52% (above 0%: growing) −65.25% (below 0%: shrinking) 100.00% 26.41% Compare
APAM Artisan Partners Asset Management Inc. $3.2B 9.4× 9.7× +3.73% (above 0%: growing) +11.83% (above 0%: growing) +168.53% (above 0%: growing) 48.10% 35.13%
FSK FS KKR Capital Corp. $3.2B — (loss-making) — (loss-making) −21.18% (below 0%: shrinking) −65.79% (below 0%: shrinking) −42.86% (below 0%: shrinking) 100.00% 0.00% Compare
AB AllianceBernstein Holding L.P. $3.2B 10.3× — — −0.09% (below 0%: shrinking) +7.24% (above 0%: growing) — — Compare
HTGC Hercules Capital, Inc. $3.1B 8.5× 8.7× +1.46% (above 0%: growing) −24.24% (below 0%: shrinking) −5,073.08% (below 0%: shrinking) 100.00% 80.30% Compare
SII Sprott Inc. $2.9B 27.5× 13.0× +23.09% (above 0%: growing) +155.77% (above 0%: growing) +64.22% (above 0%: growing) 100.00% 56.77% Compare
WT WisdomTree, Inc. $2.9B 25.3× 27.5× +42.80% (above 0%: growing) +138.21% (above 0%: growing) +24.39% (above 0%: growing) 100.00% 41.32% Compare
ASST Strive, Inc. $2.6B — (loss-making) — (loss-making) +94.64% (above 0%: growing) n/m −10,264.43% (below 0%: shrinking) 100.00% (8,780.99%) Compare
Median of peers $3.2B 22.6× 16.8× +23.09% −0.09% −17.81% 100.00% 41.32%

All 121 Asset Management stocks →

Pay and ownership Proxy statement filed 17 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2024 6.79m 7.27m 118.46
2023 6.67m 10.28m 113.03
2022 6.76m 4.30m 70.56
2021 8.11m 7.88m 102.70
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Artisan Partners Asset Management Inc. (APAM) Latest News

29 Oct

Impact 3 · · Simply Wall St.

28 Oct

Impact 4 · · MarketBeat transcript
Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby
Impact 3 · · Associated Press

27 Oct

Impact 3 · · StockStory
Impact 3 · · GlobeNewswire

26 Oct

Impact 3 · · StockStory

15 Oct

Impact 3 · · Simply Wall St.

12 Oct

Impact 3 · · StockStory

9 Oct

Impact 3 · · GlobeNewswire

8 Oct

Impact 3 · · Zacks

21 Sep

Impact 4 · · Simply Wall St.

20 Sep

Impact 3 ·

29 Jul

Impact 3 · · MarketBeat transcript

28 Jul

Impact 3 ·
Impact 3 ·

5 Jun

Impact 3 · · Simply Wall St.

2 May

Impact 3 · · Simply Wall St.

30 Apr

Impact 4 · · GuruFocus.com

29 Apr

Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby
Impact 3 · · Simply Wall St.

28 Apr

Impact 3 · · GlobeNewswire

27 Apr

Impact 3 · · StockStory

22 Apr

Impact 3 · · Zacks

10 Feb

Impact 4 · · GlobeNewswire
Impact 3 · · StockStoryGuruFocus.comStockStoryStockStorySimply Wall St.Simply Wall St.StockStory transcript

7 Feb

Impact 4 · · Simply Wall St.

APAM metrics, ten years each

stockrow.com/APAM · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com