MARKETS / NYSE / APAM

NYSE · INVESTMENT ADVICE · LARGE CAP

Artisan Partners Asset Management Inc. APAM

15 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$1.2B

▲ 7.6% YoY

Net income

$290.3M

▲ 11.8% YoY

Free cash flow

$171.6M

▼ 53.8% YoY

In brief

What this company does

The company offers its investment management capabilities primarily to institutions and to intermediaries that operate with institutional-like decision-making processes, by means of separate accounts and pooled vehicles. It derives essentially all of its revenue from investment management fees, based primarily on a specified percentage of clients' average assets under management. It offers a broad range of actively managed investment strategies diversified by asset class, market cap and investment style, with each strategy managed by one of its investment teams. As of December 31, 2025, Artisan Funds and Artisan Global Funds accounted for approximately 49% of its total assets under management, with the remaining approximately 51% managed in separate accounts and other pooled vehicles. As of December 31, 2025, it employed 567 associates. Artisan was founded in 1994.

Written from the business description in Artisan Partners Asset Management Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 20 February 2026. Every sentence was checked against that document before publication.

Growth

USD 1.2B

Revenue, FY2025 · full 15-year series below

Revenue $B Net income $B

FY2025 · Revenue 1.2 · Net income 0.3

Compound annual growth

Revenue

+6.4%

+5.9%

+4.0%

Net income

+12.0%

+6.4%

+13.5%

EPS, diluted

+11.3%

+3.6%

+8.1%

Dividend / share

−0.4%

+1.4%

+0.8%

Returned to shareholders

+1.1%

+4.8%

+7.6%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +5.9% a year over five years — but profit grew faster: net income at +6.4%, earnings per share at +3.6%.

The share count rose from 0.08B to 0.08B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

32 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 33.4% · Net 31.6%

ROE

FY2025 · ROE 70.1%

Gross margin—

Operating margin33.4%

Net margin31.6%

Return on assets23.6%

EBITDAUSD 409.0M

Each USD of equity produced 70 cents of profit this year.

Cash & shareholders

USD 257.1M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 171.6

Net buybacks $M Dividends $M

FY2025 · Dividends 257.1 · Net buybacks —

Dividends paidUSD 257.1M

Net buybacks—

Share of profit88.6%

Consecutive raises2 years

USD 257.1M in dividends — 89% of the year's profit went back to shareholders.

Total assetsUSD 1.6B

EquityUSD 438.8M

CashUSD 255.5M

Gross debtUSD 190.0M

Net debtUSD -65.5M

The company holds more cash than debt.

The 15-year record

15 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Revenue $B	1.2	1.1	1.0	1.0	1.2	0.9	0.8	0.8	0.8	0.7	0.8	0.8	0.7	0.5	0.5
Operating income $B	0.4	0.4	0.3	0.3	0.5	0.4	0.3	0.3	0.3	0.2	0.3	0.3	−0.3	0.0	0.2
EBITDA $B	0.4	0.4	0.3	0.4	0.5	0.4	0.3	0.3	0.3	0.2	0.3	0.3	−0.3	0.0	0.2
Income tax $B	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.0	0.4	0.1	0.0	0.0	0.0	0.0	0.0
Net income $B	0.3	0.3	0.2	0.2	0.3	0.2	0.2	0.2	0.0	0.1	0.1	0.1	0.0	0.0	0.0
Free cash flow $B	0.2	0.4	0.3	0.3	0.4	0.3	0.3	0.3	0.2	0.3	0.3	0.3	0.1	0.1	0.1
EPS, diluted $	4.05	3.66	3.19	2.94	5.09	3.40	2.65	2.84	0.75	1.57	1.86	−0.37	−2.04	·	·
Dividend / sh $	3.63	3.16	2.66	3.67	4.23	3.39	3.39	3.19	2.76	2.80	3.35	3.83	0.86	·	·
Payout %	89	85	82	120	82	95	120	106	264	158	152	143	59	·	·
ROE %	70.1	72.9	75.8	76.8	147.4	135.7	116.8	129.2	41.1	55.8	67.9	90.0	113.3	·	·
Shares out B	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.07	0.07	0.07	0.07	0.00	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 42 reconciliationsAUDITED

Reconciled in 15 of 19 fiscal years. 15 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityInvestment Advice

Listed onNYSE

Incorporated inDelaware

Fiscal year endsDecember 31

Data on record since2011