Artisan Partners (APAM) | Financial Analysis & Statements
Artisan Partners Asset Management Inc. Mid-cap Financial Services
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Mar 2025Income Metrics
Gross Profit
122.0M
Operating Income
86.5M
Net Income
77.3M
EPS (Diluted)
$0.82
Balance Sheet Metrics
Total Assets
1.4B
Total Liabilities
868.1M
Shareholders Equity
502.2M
Debt to Equity
1.73
Cash Flow Metrics
Operating Cash Flow
82.0M
Free Cash Flow
157.7M
Revenue & Profitability Trend
Annual Income Flow
2024
Artisan Partners Income Statement From 2020 to 2024
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Revenue | 1.1B | 975.1M | 993.3M | 1.2B | 899.6M |
| Cost of Goods Sold | 594.1M | 529.4M | 510.4M | 563.1M | 435.8M |
| Gross Profit | 517.7M | 445.7M | 482.9M | 664.2M | 463.7M |
| Gross Margin % | 46.6% | 45.7% | 48.6% | 54.1% | 51.6% |
| Operating Expenses | |||||
| Research & Development | - | - | - | - | - |
| Selling, General & Administrative | 151.0M | 142.1M | 138.8M | 123.7M | 105.4M |
| Other Operating Expenses | - | - | 28.8M | 21.9M | 21.9M |
| Total Operating Expenses | 151.0M | 142.1M | 167.6M | 145.6M | 127.3M |
| Operating Income | 366.6M | 303.6M | 344.1M | 540.5M | 358.3M |
| Operating Margin % | 33.0% | 31.1% | 34.6% | 44.0% | 39.8% |
| Non-Operating Items | |||||
| Interest Income | 9.6M | 6.3M | 333.0K | 559.0K | - |
| Interest Expense | 8.6M | 8.6M | 9.9M | 10.8M | 10.8M |
| Other Non-Operating Income | 72.9M | 82.4M | -22.7M | 21.3M | 21.8M |
| Pre-tax Income | 440.6M | 383.7M | 311.8M | 551.6M | 369.3M |
| Income Tax | 90.9M | 71.9M | 63.4M | 107.0M | 60.8M |
| Effective Tax Rate % | 20.6% | 18.7% | 20.3% | 19.4% | 16.5% |
| Net Income | 349.7M | 311.8M | 248.4M | 444.5M | 308.5M |
| Net Margin % | 31.4% | 32.0% | 25.0% | 36.2% | 34.3% |
| Key Metrics | |||||
| EBITDA | 385.6M | 319.7M | 353.1M | 548.3M | 360.3M |
| EPS (Basic) | $3.66 | $3.19 | $2.94 | $5.10 | $3.40 |
| EPS (Diluted) | $3.66 | $3.19 | $2.94 | $5.09 | $3.40 |
| Basic Shares Outstanding | 64900228 | 63400000 | 62500000 | 59900000 | 55600000 |
| Diluted Shares Outstanding | 64900228 | 63400000 | 62500000 | 59900000 | 55600000 |
Income Statement Trend
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Artisan Partners Balance Sheet From 2020 to 2024
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 268.2M | 178.5M | 143.2M | 200.1M | 198.8M |
| Short-term Investments | - | - | - | - | - |
| Accounts Receivable | 122.7M | 108.1M | 90.0M | 116.3M | 101.3M |
| Inventory | - | - | - | - | - |
| Other Current Assets | - | - | - | - | - |
| Total Current Assets | 409.4M | 307.8M | 262.6M | 335.6M | 313.7M |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 83.4M | 94.7M | 101.4M | 88.6M | 79.3M |
| Goodwill | - | - | - | - | - |
| Intangible Assets | - | - | - | - | - |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 413.6M | 442.1M | 481.4M | 505.6M | 489.0M |
| Total Non-Current Assets | 1.2B | 1.1B | 972.0M | 872.5M | 838.2M |
| Total Assets | 1.6B | 1.4B | 1.2B | 1.2B | 1.2B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 139.4M | 63.6M | 50.8M | 49.2M | 134.1M |
| Short-term Debt | - | - | - | - | - |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | - | - | - | - |
| Total Current Liabilities | 501.4M | 427.6M | 449.6M | 474.6M | 546.6M |
| Non-Current Liabilities | |||||
| Long-term Debt | 300.7M | 312.7M | 319.9M | 299.7M | 292.0M |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | 7.8M | 9.6M | 20.8M | 19.2M | 15.7M |
| Total Non-Current Liabilities | 367.4M | 374.5M | 370.4M | 326.4M | 320.6M |
| Total Liabilities | 868.8M | 802.1M | 820.0M | 801.1M | 867.2M |
| Equity | |||||
| Common Stock | 804.0K | 799.0K | 796.0K | 790.0K | 786.0K |
| Retained Earnings | 170.0M | 132.1M | 93.1M | 134.9M | 72.9M |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 749.9M | 603.8M | 414.6M | 407.0M | 284.8M |
| Key Metrics | |||||
| Total Debt | 300.7M | 312.7M | 319.9M | 299.7M | 292.0M |
| Working Capital | -92.0M | -119.9M | -187.0M | -139.0M | -232.8M |
Balance Sheet Composition
Artisan Partners Cash Flow Statement From 2020 to 2024
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 349.7M | 311.8M | 248.4M | 444.5M | 308.5M |
| Depreciation & Amortization | 9.9M | 9.3M | 7.8M | 6.9M | 6.6M |
| Stock-Based Compensation | 32.5M | 33.7M | 41.5M | 39.6M | 37.0M |
| Working Capital Changes | -16.9M | 125.0K | 62.6M | -46.8M | 18.6M |
| Operating Cash Flow | 401.4M | 307.6M | 313.7M | 394.3M | 348.6M |
| Investing Activities | |||||
| Capital Expenditures | -4.8M | -8.6M | -19.6M | -6.0M | -3.1M |
| Acquisitions | - | - | - | - | - |
| Investment Purchases | -31.8M | -35.5M | -49.3M | -33.8M | -2.2M |
| Investment Sales | 11.7M | 5.9M | 5.2M | 12.8M | 24.0M |
| Investing Cash Flow | -24.9M | -38.2M | -63.7M | -27.0M | 18.8M |
| Financing Activities | |||||
| Share Repurchases | - | 0 | 0 | -46.9M | -63.0M |
| Dividends Paid | -222.0M | -183.4M | -248.7M | -274.7M | -203.0M |
| Debt Issuance | 0 | 0 | 90.0M | 0 | 0 |
| Debt Repayment | 0 | 0 | -90.0M | 0 | 0 |
| Financing Cash Flow | -254.2M | -175.0M | -306.4M | -335.4M | -282.2M |
| Free Cash Flow | 368.1M | 244.4M | 293.1M | 392.6M | 315.6M |
| Net Change in Cash | 122.3M | 94.5M | -56.4M | 31.9M | 85.1M |
Cash Flow Trend
Artisan Partners Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
11.82
Forward P/E
11.98
Price to Book
7.57
Price to Sales
2.77
PEG Ratio
11.98
Profitability Ratios
Profit Margin
23.88%
Operating Margin
28.22%
Return on Equity
58.28%
Return on Assets
15.66%
Financial Health
Current Ratio
1.75
Debt to Equity
48.85
Beta
1.68
Per Share Data
EPS (TTM)
$3.78
Book Value per Share
$5.90
Revenue per Share
$17.39
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| APAM | 3.1B | 11.82 | 7.57 | 58.28% | 23.88% | 48.85 |
| BlackRock | 162.5B | 26.32 | 2.90 | 9.02% | 24.40% | 24.37 |
| Brookfield | 102.6B | 92.57 | 2.32 | 1.95% | 1.68% | 164.04 |
| Affiliated Managers | 7.6B | 12.75 | 2.65 | 19.93% | 34.54% | 64.54 |
| Janus Henderson | 7.9B | 9.85 | 1.55 | 16.20% | 26.34% | 8.25 |
| Brookfield Business | 6.9B | 6.88 | 3.08 | 2.37% | -0.10% | 291.12 |
Financial data is updated regularly. All figures are in the company's reporting currency.






