Artisan Partners Asset Management (APAM) financial statements
Artisan Partners Asset Management reported revenue of $1.2B in fiscal 2025, up 5.8% a year over 9 years.
Net income was $290M and the operating margin 33.4%, against 32.5% in 2016.
Free cash flow was $172M, and the company returned $257M in dividends.
The diluted share count rose 72% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Artisan Partners Asset Management's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | $12M | $11M | $11M | $11M | $11M | $11M | $10M | $9M | $9M | $9M |
| Pre-tax income | $224M | $571M | $302M | $269M | $369M | $552M | $312M | $384M | $441M | $489M |
| Income tax | $51M | $421M | $48M | $28M | $61M | $107M | $63M | $72M | $91M | $111M |
| Net income | $73M | $50M | $158M | $157M | $213M | $337M | $207M | $222M | $260M | $290M |
| EPS (diluted) | $1.57 | $0.75 | $2.84 | $2.65 | $3.40 | $5.09 | $2.94 | $3.19 | $3.66 | $4.05 |
| Diluted shares | 38M | 45M | 49M | 51M | 56M | 60M | 62M | 63M | 65M | 66M |
| Operating margin | 32.5% | 36.0% | 36.8% | 35.5% | 39.8% | 44.0% | 34.6% | 31.1% | 33.0% | 33.4% |
| Net margin | 10.1% | 6.2% | 19.1% | 19.6% | 23.6% | 27.4% | 20.8% | 22.8% | 23.4% | 24.3% |
Balance sheet
Fiscal years, from Artisan Partners Asset Management's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $157M | $137M | $160M | $135M | $199M | $201M | $143M | $178M | $268M | $256M |
| Property, plant and equipment | $20M | $21M | $29M | $39M | $36M | $35M | $48M | $47M | $41M | $33M |
| Goodwill | — | — | — | — | — | — | — | — | — | $0 |
| 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 |
| Net debt | -$157M | -$137M | -$160M | -$135M | -$199M | -$201M | -$143M | -$178M | -$268M | -$256M |
Cash flow
Fiscal years, from Artisan Partners Asset Management's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $270M | $226M | $333M | $293M | $319M | $399M | $313M | $253M | $373M | $172M |
| Capital spending | $3M | $2M | $3M | $3M | $2M | $2M | $7M | $2M | $2M | $371,000 |
| Free cash flow | $267M | $224M | $330M | $289M | $317M | $396M | $306M | $251M | $371M | $172M |
| Stock-based compensation | $28M | $13M | $53M | $42M | $36M | $39M | $40M | $32M | $31M | $27M |
| Dividends paid | $115M | $131M | $168M | $188M | $203M | $275M | $249M | $183M | $222M | $257M |
| Net borrowing | $0 | -$60M | $0 | -$50M | $0 | $0 | -$90M | $0 | $0 | -$60M |
| Free cash flow margin | 37.1% | 28.2% | 39.9% | 36.2% | 35.2% | 32.3% | 30.8% | 25.7% | 33.4% | 14.3% |
| Dividends per share | $3.03 | $2.93 | $3.43 | $3.68 | $3.65 | $4.59 | $3.98 | $2.89 | $3.42 | $3.92 |
Questions
What was Artisan Partners Asset Management's revenue in 2025?
$1.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does Artisan Partners Asset Management generate?
$172M in fiscal 2025 (operating cash flow minus capital spending).
From Artisan Partners Asset Management's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.