Artisan Partners Asset Management Inc.

Finance
Investment Managers
www.artisanpartners.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $3.15B
PE 14
Debt $200.00M
Cash $279.80M
EV $3.07B
FCF $323.11M

Earnings

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Sales & Net Margins

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Earnings	$232.65M
EBIT	$440.47M
ROE	57%
ROA	27%
FCF	$323.11M
Equity	$405.03M
Growth Stability	87%
PE	13.53
PEG	2.52
PB	7.77
P/FCF	9.74
P/S	2.96
Price/Cash	0.09
Debt/Equity	0.49
Debt/FCF	0.62
Net Margins	21%
Op. Margins	41%
Earnings CAGR	21%
Sales Growth YoY	12%
Sales Growth QoQ	3%
Sales CAGR	5%
FCF CAGR	2%
Equity CAGR	14%
Earnings Stability	0.73
Earnings Growth YoY	38%
Earnings Growth QoQ	25%

Earnings CAGR 5Y	5%
Sales CAGR 5Y	4%
FCF CAGR 5Y	-5%
Equity CAGR 5Y	26%
Earnings CAGR 3Y	-6%
Sales CAGR 3Y	-6%
FCF CAGR 3Y	-10%
Equity CAGR 3Y	18%
Market Cap	$3.15B
Revenue	$1.06B
Dividend Yield	7%
Payout Ratio	90%
Assets	$1.61B
Total Debt	$200.00M
Cash	$279.80M
Shares Outstanding	64.8M
EV	3.07B
Earnings Score	92%
Moat Score	97%
Safety Score	95%
Final Score	95%
Shares Growth 3y	2%
Equity Growth QoQ	9%
Equity Growth YoY	25%

Assets & ROA

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Stockholders Equity & ROE

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Artisan Partners Asset Management Inc is a global investment management firm providing a range of investment strategies to a diverse group of clients around the world. Each of the company's strategies is managed by one of its several investment teams. Investment management services are primarily offered to institutions through separate accounts and mutual funds. Artisan's investment offerings include several long-only, equity investment strategies across a multitude of market capitalization segments and investing styles in both the United States and international markets. In addition to its equity strategies, customers may invest in a fixed-income strategy. Strategies are often distributed to customers ranging from retail investors to institutional investors through specialized channels.

SEC Filings

Direct access to Artisan Partners Asset Management Inc. (APAM) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Artisan Partners Asset Management Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Artisan Partners Asset Management Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 21%

Stability 73%

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Artisan Partners Asset Management Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Artisan Partners Asset Management Inc..

Years

Calculation mode

= $3.6B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$323M	$328M	$333M	$338M	$344M	$349M	$354M	$360M	$365M	$371M	$377M	$3.8B
DCF		$298M	$275M	$254M	$235M	$217M	$200M	$185M	$170M	$157M	$145M	$1.5B
Value	$3.6B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-1%	8%	8%	4%	17%	17%	21%	25%	19%	21%	21%
ROA	-	30%	25%	68%	38%	30%	32%	46%	28%	27%	27%
ROE	-	51%	46%	31%	99%	98%	99%	103%	66%	58%	57%

Good Net Margins (21.35%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	0.63	0.75	0.98	0.6	0.69	0.63	0.5	0.65	0.8	0.62
Debt over Equity	-	1.53	1.51	1.81	1.42	1.44	1.04	0.68	0.72	0.57	0.49
Growth Stability	-	-	-	87%	100%	100%	100%	100%	88%	90%	87%

Good Debt/FCF ratio (0.62)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.49)

The company is not overleveraged and has a good balance between equity and debt.

Neutral Graham’s Stability (87%)

The company has a stability in its earnings that is not too good nor too bad.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-3%	-11%	10%	4%	-4%	13%	36%	-19%	-2%	4%
Earnings YoY growth	-	-739%	-9%	-44%	314%	-3%	40%	61%	-40%	10%	5%
Equity YoY growth	-	17%	1%	-17%	28%	-1%	38%	55%	-6%	26%	26%
FCF YoY growth	-	-19%	-16%	-24%	63%	-12%	9%	25%	-23%	-18%	-5%