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Artisan Partners Asset Management Inc.

Artisan Partners Asset Management Inc.

NYSE•APAM
CEO: Mr. Eric Richard Colson C.F.A.
Sector: Financial Services
Industry: Asset Management
Listing Date: 2013-03-07
Artisan Partners Asset Management Inc. is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts. It manages separate client-focused equity and fixed income portfolios. The firm invests in the public equity and fixed income markets across the globe. It invests in growth and value stocks of companies across all market capitalization. For fixed income component of its portfolio the firm invests in non-investment grade corporate bonds and secured and unsecured loans. It employs fundamental analysis to create its portfolios. Artisan Partners Asset Management Inc. was founded in 1994 and is based in Milwaukee, Wisconsin with additional offices in Atlanta, Georgia; New York City; San Francisco, California; Leawood, Kansas; and London, United Kingdom.
Contact Information
875 East Wisconsin Avenue, Suite 800, Milwaukee, WI, 53202, United States
414-390-6100
www.artisanpartners.com
Market Cap
$2.94B
P/E (TTM)
11.2
0
Dividend Yield
8.7%
52W High
$48.50
52W Low
$32.75
52W Range
57%
Rank33Top 18.8%
5.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$301.29M+7.76%
4-Quarter Trend

EPS

$0.93-9.71%
4-Quarter Trend

FCF

$40.37M-64.04%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue Rises 6% Nine months revenues reached $861.2M, up 6% driven by $11.8B average AUM increase; operating income up 4%.
AUM Ends Higher Total AUM grew 8.0% to $181.3B by period end, reflecting $27.6B investment returns for the nine months.
Net Income Up 3% Net income attributable to APAM was $195.5M for nine months, a 3% increase; basic EPS $2.73 versus $2.68.
Liquidity Position Strong Cash and equivalents totaled $300.2M at period end, up significantly from $201.2M at year-end 2024.

Risk Factors

Client Cash Outflows Increase Net client cash outflows widened significantly to $(7.0B) for nine months, compared to $(2.9B) in prior period.
Compensation Costs Rising Total compensation and benefits increased 9% to $484.3M for nine months, driven by higher revenues and valuation changes.
Tax Law Uncertainty Impact OBBBA enactment caused a $10.7M deferred tax charge, increasing the nine-month effective tax rate to 24.0%.
Reliance on Holdings Cash APAM depends on cash generated by Holdings to fund all dividends; distributions to APAM were $239.8M for nine months.

Outlook

Quarterly Dividend Policy Expect quarterly dividend payout of approximately 80% of cash generated, subject to Board approval each quarter.
Future TRA Payments Expected Expect approximately $40.4M in payments under Tax Receivable Agreements during 2026, following $38.3M paid in 2025.
Focus on Growth Initiatives Plan to invest thoughtfully in growth, adding new investment capabilities and degrees of freedom where opportunity exists.
Future Tax Rate Increase GAAP and adjusted effective tax rates estimated to increase 1% to 3% starting in 2027 due to OBBBA rules.

Peer Comparison

Revenue (TTM)

Federated Hermes, Inc.FHI
$1.74B
+8.9%
WSFS Financial CorporationWSFS
$1.27B
-9.2%
Artisan Partners Asset Management Inc.APAM
$1.16B
+8.9%

Gross Margin (Latest Quarter)

Golub Capital BDC, Inc.GBDC
176.7%
+117.2pp
Hercules Capital, Inc.HTGC
85.8%
-4.0pp
Federated Hermes, Inc.FHI
75.8%
+9.1pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
FHI$4.21B10.834.1%21.1%
GBDC$3.57B9.59.4%54.6%
HTGC$3.36B17.69.1%0.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
0.5%
Moderate Growth
4Q Net Income CAGR
-1.4%
Stable Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 3, 2026
|
EPS:$1.13
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 31, 2025|
    Revenue: $301.29M+7.8%
    |
    EPS: $0.93-9.7%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 1, 2025|
    Revenue: $282.75M+4.4%
    |
    EPS: $0.94+17.5%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 2, 2025|
    Revenue: $277.15M+4.8%
    |
    EPS: $0.82-2.4%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 25, 2025|
    Revenue: $1.11B+14.0%
    |
    EPS: $3.66+14.7%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 1, 2024|
    Revenue: $279.58M+12.4%
    |
    EPS: $1.03+35.5%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 26, 2024|
    Revenue: $270.82M+11.5%
    |
    EPS: $0.80+5.3%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 26, 2024|
    Revenue: $264.35M+12.7%
    |
    EPS: $0.84+16.7%
    Beat

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 22, 2024|
    Revenue: $975.13M-1.8%
    |
    EPS: $3.19+8.5%
    Beat