Artisan Partners Asset Management Inc. · Investment Advice

APAM

Low riskNext report: Around Feb 2, 2027 (est.)

View price ↗

The short version

A high-quality, profitable business with steady sales. Institutions are adding.

Going well

Raised its dividend (10.9% yield)
Profitable every year for 10 years
Brings in more cash than it spends

Money moves

No insider buying or selling in the last 30 days
Institutions added 3.2% to their holdings in the quarter ending June 2026 (202 bought, 161 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$33.34-0.7% that day

Company value: $2.7B; Share price times all shares
Price vs profit (P/E): 8.1x; You pay about $8 for each $1 of yearly profit
Price vs sales: 2.2x; Company value is 2.2 times a year of sales
Dividend yield: 10.9%; Yearly dividend as a share of today's price
Cash vs value: 13%; Cash as a share of company value
Debt vs value: 7%; Debt as a share of company value

From APAM's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$307.9M+8.9% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $1.2B, up 9.8% from the 12 months before. Over 5 years, sales grew about 5.9% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of APAM. Starting points are the company's recent numbers.

Sales growth+10% a yearRecently: +9.8% a yearProfit margin24%Last 12 months: 24.1%P/E at the end8xToday: 8.1x. Many steady companies trade at 12x to 25xShare count change+2% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$2.0B

Profit in 5 years$482M

Price these guesses point to$43.11+29% vs $33.34 todayAbout +5.3% a year, before dividends

What today's price needs: with a 24% margin and a 8x P/E, sales would have to grow about 4.5% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

5/6Strong

PassReturn on equity 15%+Earns a lot on the money owners have in the business.70.1%
PassDebt under half of equityNot relying on borrowed money.0.43x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.24.3%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$171.6M
MissShare count not growingNot diluting owners. Falling means buybacks.+5.0% in 3 years

Revenue: $1.2B; +7.6% vs prior year
5-year growth: +5.9%/yr; revenue, per year
Total debt: $190.0M; 0.43x equity
Free cash flow: $171.6M; 14.3% of revenue

From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Oct 27After close4:22 pm ET

The numbers below are the quarter before. The new quarter's full numbers come with the 10-Q. Read the press release ↗

Revenue: $307.9M; +8.9% YoY
EPS: $1.11; vs $0.94
Op. margin: 27.5%; -0.7 pts
Free cash flow: $115.4M
Share count: +1.1%; vs a year ago

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

0/ 100

This week: 1
Normal week: 0.6
vs normal: 1.6x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+3.2%

Institutions added 3.2% to their holdings. 202 bought, 161 sold. 4 quarters of net buying in a row.

Shares held by institutions69.7M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+0.5%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

0.5x · $190.0M debt

Shares outstandingLatest reported

81M

Earnings reports

Last 12

Next reportAround Feb 2, 2027 (est.)Estimated from the same quarter last year

Results filedOct 27
Results filedJul 28
Results filedApr 28
Results filedFeb 3
Results filedOct 28, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

No offerings, red flags or new big holders. Clean record.

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

Earnings resultsOct 27 · Form 8-K ↗Other company newsOct 9 · Form 8-K ↗Major agreementSep 25 · Form 8-K ↗Other company newsSep 10 · Form 8-K ↗

SoldGregory K RamirezExecutive Vice President

7,000 shares at $42.59 · $298K

-6% of holdings
Now owns 109,194 shares
Not a pre-planned sale
Filed 1 day after trade

Aug 19Form 4 ↗

Planned insider saleAug 19 · Form 144 ↗Other company newsAug 11 · Form 8-K ↗Quarterly reportJul 31 · Form 10-Q ↗Earnings resultsJul 28 · Form 8-K ↗Other company newsJul 10 · Form 8-K ↗Other company newsJun 5 · Form 8-K ↗Shareholder vote resultsJun 3 · Form 8-K ↗Other company newsMay 11 · Form 8-K ↗Quarterly reportMay 4 · Form 10-Q ↗New 5%+ holder (passive)Apr 29 · Form SCHEDULE 13G ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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