Artisan Partners Asset Management Inc.
APAM NYSE Investment Advice Financials FY2016–FY2025
Last close · Oct 23, 2026
$33.57
2.4%What Artisan Partners Asset Management Inc. does
No business description yet.
- Legal name
- Artisan Partners Asset Management Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 20, 2026
- Accession · CIK
- 0001517302-26-000047
0001517302
Revenue and margins
Artisan Partners Asset Management Inc. had $1.2B of revenue in fiscal 2025, up 7.6% on the year before.
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew 11.1% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $172M in fiscal 2025, 14.3% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Artisan Partners Asset Management Inc. returned $257M to shareholders in fiscal 2025, 150% of free cash flow. The diluted share count rose 1.0%.
Balance sheet
Cash, debt and the ratios that show how comfortably Artisan Partners Asset Management Inc. can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $201M | $143M | $178M | $268M | $256M |
| Debt incl. finance leases | $200M | $200M | $200M | $200M | $190M |
| Net debt / EBITDA | −0.0x | 0.2x | 0.1x | −0.2x | −0.2x |
| Debt / equity | 0.7x | 0.8x | 0.6x | 0.5x | 0.4x |
| Interest coverage | 50.0x | 34.7x | 35.4x | 42.6x | 46.7x |
| Total assets | $1.2B | $1.2B | $1.4B | $1.6B | $1.6B |
| Total liabilities | $801M | $820M | $802M | $869M | $795M |
| Shareholders' equity | $276M | $262M | $324M | $389M | $439M |
| Net debt (− = net cash) | −$0.8M | $56.8M | $21.5M | −$68.2M | −$65.5M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✕ | ✓ | ✕ | ✓ | ✓ | ✕ | ✕ | ✓ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ |
| Debt fell relative to assets | — | — | — | — | — | — | ✓ | ✓ | ✓ | ✓ |
| Current ratio rose | — | — | — | — | — | — | — | — | — | — |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Gross margin rose | — | — | — | — | — | — | — | — | — | — |
| Revenue rose relative to assets | — | ✓ | ✓ | ✕ | ✕ | ✓ | ✕ | ✕ | ✕ | ✓ |
| F-score | — / 3 | — / 6 | — / 6 | — / 6 | — / 6 | — / 6 | 4 / 7 | 4 / 7 | 5 / 7 | 5 / 7 |
| Accruals ratio | −21.1% | −19.9% | −21.3% | −15.7% | −10.2% | −5.3% | −8.7% | −2.3% | −7.5% | 7.4% |
| Altman Z'' | — | — | — | — | — | — | — | — | — | — |
10 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $721M | $796M | $829M | $799M | $900M | $1.2B | $993M | $975M | $1.1B | $1.2B |
| Operating income | $234M | $286M | $305M | $283M | $358M | $540M | $344M | $304M | $367M | $400M |
| Interest expense | $11.7M | $11.4M | $11.2M | $11.1M | $10.8M | $10.8M | $9.9M | $8.6M | $8.6M | $8.6M |
| Pretax income | $224M | $571M | $302M | $269M | $369M | $552M | $312M | $384M | $441M | $489M |
| Income tax | $51.5M | $421M | $47.6M | $27.8M | $60.8M | $107M | $63.5M | $71.9M | $90.9M | $111M |
| Net income | $73.0M | $49.6M | $158M | $157M | $213M | $337M | $207M | $222M | $260M | $290M |
| Net income to common | $60.0M | $33.6M | $139M | $135M | $189M | $305M | $184M | $202M | $237M | $266M |
| Diluted EPS | $1.57 | $0.75 | $2.84 | $2.65 | $3.40 | $5.09 | $2.94 | $3.19 | $3.66 | $4.05 |
| Diluted shares | 0.04B | 0.04B | 0.05B | 0.05B | 0.06B | 0.06B | 0.06B | 0.06B | 0.06B | 0.07B |
| Cash flow | ||||||||||
| Cash from operations | $270M | $226M | $333M | $293M | $319M | $399M | $313M | $253M | $373M | $172M |
| Capital expenditure | $2.9M | $1.6M | $2.8M | $3.5M | $2.0M | $2.4M | $6.6M | $2.3M | $1.6M | $0.4M |
| Free cash flow | $267M | $224M | $330M | $289M | $317M | $396M | $306M | $251M | $371M | $172M |
| Depreciation and amortization | $5.3M | $5.3M | $5.7M | $6.2M | $6.6M | $6.9M | $7.8M | $9.3M | $9.9M | $9.4M |
| Stock-based compensation | $28.1M | $12.7M | $52.9M | $42.1M | $36.5M | $39.2M | $40.0M | $32.2M | $31.3M | $27.4M |
| Dividends paid | $115M | $131M | $168M | $188M | $203M | $275M | $249M | $183M | $222M | $257M |
| Dividends and buybacks | $115M | $131M | $168M | $188M | $203M | $275M | $249M | $183M | $222M | $257M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $157M | $137M | $160M | $135M | $199M | $201M | $143M | $178M | $268M | $256M |
| Total debt | — | — | — | — | — | $200M | $200M | $200M | $200M | $190M |
| Property and equipment, net | $20.0M | $21.0M | $29.1M | $39.5M | $35.9M | $35.3M | $48.1M | $46.6M | $41.5M | $33.0M |
| Goodwill | — | — | — | — | — | — | — | — | — | $0.0M |
| Intangible assets | — | — | — | — | — | — | — | — | — | $0.0M |
| Total assets | $936M | $837M | $805M | $934M | $1.2B | $1.2B | $1.2B | $1.4B | $1.6B | $1.6B |
| Total liabilities | $818M | $667M | $630M | $752M | $867M | $801M | $820M | $802M | $869M | $795M |
| Shareholders' equity | $132M | $110M | $135M | $133M | $180M | $276M | $262M | $324M | $389M | $439M |
| Margins | ||||||||||
| Operating margin | 32.5% | 36.0% | 36.8% | 35.5% | 39.8% | 44.0% | 34.6% | 31.1% | 33.0% | 33.4% |
| EBITDA margin | 33.2% | 36.7% | 37.5% | 36.3% | 40.6% | 44.6% | 35.4% | 32.1% | 33.9% | 34.2% |
| Net margin | 10.1% | 6.2% | 19.1% | 19.6% | 23.6% | 27.4% | 20.8% | 22.8% | 23.4% | 24.3% |
| FCF margin | 37.1% | 28.2% | 39.9% | 36.2% | 35.2% | 32.3% | 30.8% | 25.7% | 33.4% | 14.3% |
| Returns | ||||||||||
| Return on capital | — | — | — | — | — | 158.2% | 85.9% | 71.4% | 90.7% | 82.7% |
| Return on equity | 55.4% | 41.1% | 129.2% | 116.8% | 135.7% | 147.4% | 76.8% | 75.8% | 72.9% | 70.1% |
| Return on assets | 7.8% | 5.6% | 19.3% | 18.0% | 20.4% | 28.5% | 16.9% | 16.8% | 17.2% | 18.2% |
| Return on tangible equity | 45.5% | 30.5% | 102.8% | 101.8% | 104.9% | 110.5% | 70.2% | 62.4% | 61.1% | 60.6% |
| Growth | ||||||||||
| Revenue growth | — | 10.4% | 4.1% | −3.6% | 12.6% | 36.4% | −19.1% | −1.8% | 14.0% | 7.6% |
| Net income growth | — | −32.1% | 219.2% | −1.1% | 35.8% | 58.3% | −38.6% | 7.5% | 16.9% | 11.8% |
| EPS growth | — | −52.2% | 278.7% | −6.7% | 28.3% | 49.7% | −42.2% | 8.5% | 14.7% | 10.7% |
| FCF growth | — | −16.1% | 47.3% | −12.5% | 9.4% | 25.1% | −22.8% | −18.0% | 48.1% | −53.8% |
| Share count change | — | 17.1% | 9.4% | 4.6% | 8.8% | 7.6% | 4.4% | 1.6% | 2.3% | 1.0% |
| Financial health | ||||||||||
| Net debt / EBITDA | — | — | — | — | — | −0.0x | 0.2x | 0.1x | −0.2x | −0.2x |
| Debt / equity | — | — | — | — | — | 0.7x | 0.8x | 0.6x | 0.5x | 0.4x |
| Interest coverage | 20.1x | 25.0x | 27.2x | 25.6x | 33.2x | 50.0x | 34.7x | 35.4x | 42.6x | 46.7x |
| Capital allocation | ||||||||||
| Capex / revenue | 0.4% | 0.2% | 0.3% | 0.4% | 0.2% | 0.2% | 0.7% | 0.2% | 0.1% | 0.0% |
| Stock comp / revenue | 3.9% | 1.6% | 6.4% | 5.3% | 4.1% | 3.2% | 4.0% | 3.3% | 2.8% | 2.3% |
| Payouts / FCF | 43.1% | 58.4% | 50.8% | 65.0% | 64.1% | 69.4% | 81.3% | 73.1% | 59.8% | 149.8% |
| Quality scores | ||||||||||
| Piotroski F-score | — | — | — | — | — | — | 4.0 | 4.0 | 5.0 | 5.0 |
| Accruals ratio | −21.1% | −19.9% | −21.3% | −15.7% | −10.2% | −5.3% | −8.7% | −2.3% | −7.5% | 7.4% |
Source: SEC EDGAR XBRL filings (CIK 0001517302). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.
