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Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 5/10

vs
industry
vs
history
Cash-to-Debt 0.68
APAM's Cash-to-Debt is ranked lower than
74% of the 1565 Companies
in the Global Asset Management industry.

( Industry Median: 9999.00 vs. APAM: 0.68 )
Ranked among companies with meaningful Cash-to-Debt only.
APAM' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.26  Med: 1.09 Max: 1.59
Current: 0.68
0.26
1.59
Equity-to-Asset 0.14
APAM's Equity-to-Asset is ranked lower than
94% of the 1449 Companies
in the Global Asset Management industry.

( Industry Median: 0.85 vs. APAM: 0.14 )
Ranked among companies with meaningful Equity-to-Asset only.
APAM' s Equity-to-Asset Range Over the Past 10 Years
Min: -5.2  Med: 0.1 Max: 0.14
Current: 0.14
-5.2
0.14
Debt-to-Equity 2.55
APAM's Debt-to-Equity is ranked lower than
89% of the 697 Companies
in the Global Asset Management industry.

( Industry Median: 0.20 vs. APAM: 2.55 )
Ranked among companies with meaningful Debt-to-Equity only.
APAM' s Debt-to-Equity Range Over the Past 10 Years
Min: -0.97  Med: 1.62 Max: 8.14
Current: 2.55
-0.97
8.14
Debt-to-EBITDA 1.46
APAM's Debt-to-EBITDA is ranked higher than
66% of the 694 Companies
in the Global Asset Management industry.

( Industry Median: 1.84 vs. APAM: 1.46 )
Ranked among companies with meaningful Debt-to-EBITDA only.
APAM' s Debt-to-EBITDA Range Over the Past 10 Years
Min: -1.04  Med: 1.48 Max: 5.5
Current: 1.46
-1.04
5.5
Interest Coverage 22.81
APAM's Interest Coverage is ranked lower than
71% of the 1445 Companies
in the Global Asset Management industry.

( Industry Median: 399.93 vs. APAM: 22.81 )
Ranked among companies with meaningful Interest Coverage only.
APAM' s Interest Coverage Range Over the Past 10 Years
Min: 2.84  Med: 8.39 Max: 26.52
Current: 22.81
2.84
26.52
Piotroski F-Score: 7
Altman Z-Score: 2.63
Beneish M-Score: -3.07
WACC vs ROIC
12.21%
128.80%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating Margin % 34.42
APAM's Operating Margin % is ranked lower than
59% of the 1479 Companies
in the Global Asset Management industry.

( Industry Median: 49.37 vs. APAM: 34.42 )
Ranked among companies with meaningful Operating Margin % only.
APAM' s Operating Margin % Range Over the Past 10 Years
Min: -38.09  Med: 28.59 Max: 37.03
Current: 34.42
-38.09
37.03
Net Margin % 12.58
APAM's Net Margin % is ranked lower than
70% of the 1480 Companies
in the Global Asset Management industry.

( Industry Median: 44.88 vs. APAM: 12.58 )
Ranked among companies with meaningful Net Margin % only.
APAM' s Net Margin % Range Over the Past 10 Years
Min: 3.62  Med: 10.15 Max: 16.28
Current: 12.58
3.62
16.28
ROE % 61.77
APAM's ROE % is ranked higher than
98% of the 1571 Companies
in the Global Asset Management industry.

( Industry Median: 7.29 vs. APAM: 61.77 )
Ranked among companies with meaningful ROE % only.
APAM' s ROE % Range Over the Past 10 Years
Min: -128.67  Med: 16.25 Max: 61.77
Current: 61.77
-128.67
61.77
ROA % 9.01
APAM's ROA % is ranked higher than
65% of the 1602 Companies
in the Global Asset Management industry.

( Industry Median: 4.08 vs. APAM: 9.01 )
Ranked among companies with meaningful ROA % only.
APAM' s ROA % Range Over the Past 10 Years
Min: 5.71  Med: 9.42 Max: 33.09
Current: 9.01
5.71
33.09
ROC (Joel Greenblatt) % 1286.17
APAM's ROC (Joel Greenblatt) % is ranked higher than
83% of the 963 Companies
in the Global Asset Management industry.

( Industry Median: 74.08 vs. APAM: 1286.17 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
APAM' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -2230.01  Med: 1150.38 Max: 2391.06
Current: 1286.17
-2230.01
2391.06
3-Year Revenue Growth Rate -27.60
APAM's 3-Year Revenue Growth Rate is ranked lower than
86% of the 1125 Companies
in the Global Asset Management industry.

( Industry Median: 3.20 vs. APAM: -27.60 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
APAM' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: 0  Med: 0 Max: 43.5
Current: -27.6
0
43.5
GuruFocus has detected 6 Warning Signs with Artisan Partners Asset Management Inc APAM.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» APAM's 30-Y Financials

Financials (Next Earnings Date: 2018-02-06)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q4 2016

APAM Guru Trades in Q4 2016

Paul Tudor Jones 11,800 sh (New)
Chuck Royce 1,030,040 sh (+14.66%)
Jim Simons Sold Out
Ken Fisher 1,820,328 sh (-3.20%)
Ron Baron 43,537 sh (-12.85%)
» More
Q1 2017

APAM Guru Trades in Q1 2017

Paul Tudor Jones 38,532 sh (+226.54%)
Chuck Royce 1,087,140 sh (+5.54%)
Ken Fisher 1,836,637 sh (+0.90%)
Ron Baron 15,874 sh (-63.54%)
» More
Q2 2017

APAM Guru Trades in Q2 2017

Jim Simons 250,100 sh (New)
David Dreman 10,439 sh (New)
Chuck Royce 1,178,740 sh (+8.43%)
Ron Baron 15,874 sh (unchged)
Ken Fisher 1,826,953 sh (-0.53%)
Paul Tudor Jones 23,652 sh (-38.62%)
» More
Q3 2017

APAM Guru Trades in Q3 2017

David Dreman 10,439 sh (unchged)
Ron Baron 15,874 sh (unchged)
Ken Fisher 1,798,359 sh (-1.57%)
Jim Simons 214,800 sh (-14.11%)
Chuck Royce 1,006,920 sh (-14.58%)
Paul Tudor Jones 16,504 sh (-30.22%)
» More
» Details

Insider Trades

Latest Guru Trades with APAM

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Ken Fisher 2017-09-30 Reduce -1.57%$29.3 - $33.65 $ 36.6518%1,798,359
Ken Fisher 2017-06-30 Reduce -0.53%$26.85 - $30.55 $ 36.6528%1,826,953
David Dreman 2017-06-30 New Buy0.18%$26.85 - $30.55 $ 36.6528%10,439
Ken Fisher 2017-03-31 Add 0.90%$26.63 - $30.7 $ 36.6528%1,836,637
Ron Baron 2017-03-31 Reduce -63.54%0.01%$26.63 - $30.7 $ 36.6528%15,874
Ken Fisher 2016-12-31 Reduce -3.20%$24.55 - $31.7 $ 36.6529%1,820,328
Ron Baron 2016-12-31 Reduce -12.85%$24.55 - $31.7 $ 36.6529%43,537
Premium More recent guru trades are included for Premium Members only!!
Premium More recent guru trades are included for USA Subscribe Members only!!
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Business Description

Industry: Asset Management » Asset Management    NAICS: 523920    SIC: 6282
Compare:XPAR:TKO, LSE:3IN, MIL:AZM, ASX:BTT, XSWX:VZN, LSE:CBG, ASX:IFL, TSX:FIH.U, TSE:8586, BSP:BRAP3, LSE:TEM, LSE:WTAN, NYSE:AB, LSE:INPP, XSWX:GAM, SZSE:000563, XPAR:FFP, BOG:CORFICOLCF, MIL:ANIM, ASX:MLT » details
Traded in other countries:AP0.Germany,
Headquarter Location:USA
Artisan Partners Asset Management Inc is a global investment management firm offering investment strategies in asset classes such as equity and bonds to its clients and investors. The firm has approximately $95 billion in total assets under management.

Artisan Partners Asset Management Inc is a global investment management firm offering a broad range of investment strategies in growing asset classes to its clients and investors around the world. Overall the assets under management of the company totaled approximately $95 billion. Artisan invests in businesses in the United States as well as outside the United States in the international markets.

Guru Investment Theses on Artisan Partners Asset Management Inc

Baron Funds Comments on Artisan Partners Asset Management - Feb 05, 2016

Artisan Partners Asset Management, Inc. (NYSE:APAM), an investment manager, was formed in 1994 with a “lift out” strategy to attract top investing talent. While the corporate office focuses primarily on the distribution of a variety of the investment products, the investment professionals operate independently and autonomously. This relatively unique format has resulted in strong long-term performing products and a successful sales effort as the firm has grown to approximately $100 billion in client assets. Recent underperformance of key products, however, has led the stock to sell at what we feel are attractive prices given its long-term investment returns and its distribution force. Additionally, the company has been adding new teams in credit and developing world strategies, which is penalizing near-term profitability. However, we believe these strategies have the ability to add sizable revenue streams while also diversifying the business. (Michael Baron)



From Ron Baron (Trades, Portfolio)'s Growth Fund fourth quarter shareholder letter.

Check out Ron Baron latest stock trades

Ratios

vs
industry
vs
history
PE Ratio 19.81
APAM's PE Ratio is ranked lower than
69% of the 1198 Companies
in the Global Asset Management industry.

( Industry Median: 11.52 vs. APAM: 19.81 )
Ranked among companies with meaningful PE Ratio only.
APAM' s PE Ratio Range Over the Past 10 Years
Min: 13.58  Med: 19 Max: 260.63
Current: 19.81
13.58
260.63
PE Ratio without NRI 19.81
APAM's PE Ratio without NRI is ranked lower than
69% of the 1201 Companies
in the Global Asset Management industry.

( Industry Median: 11.76 vs. APAM: 19.81 )
Ranked among companies with meaningful PE Ratio without NRI only.
APAM' s PE Ratio without NRI Range Over the Past 10 Years
Min: 13.58  Med: 19 Max: 260.63
Current: 19.81
13.58
260.63
Price-to-Owner-Earnings 14.49
APAM's Price-to-Owner-Earnings is ranked lower than
53% of the 376 Companies
in the Global Asset Management industry.

( Industry Median: 13.75 vs. APAM: 14.49 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
APAM' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 9.7  Med: 12.92 Max: 17.81
Current: 14.49
9.7
17.81
PB Ratio 17.74
APAM's PB Ratio is ranked lower than
99% of the 1557 Companies
in the Global Asset Management industry.

( Industry Median: 0.99 vs. APAM: 17.74 )
Ranked among companies with meaningful PB Ratio only.
APAM' s PB Ratio Range Over the Past 10 Years
Min: 14.18  Med: 21.6 Max: 558.89
Current: 17.74
14.18
558.89
PS Ratio 2.05
APAM's PS Ratio is ranked higher than
85% of the 1312 Companies
in the Global Asset Management industry.

( Industry Median: 5.77 vs. APAM: 2.05 )
Ranked among companies with meaningful PS Ratio only.
APAM' s PS Ratio Range Over the Past 10 Years
Min: 1.1  Med: 1.55 Max: 4.21
Current: 2.05
1.1
4.21
Price-to-Free-Cash-Flow 6.16
APAM's Price-to-Free-Cash-Flow is ranked higher than
82% of the 387 Companies
in the Global Asset Management industry.

( Industry Median: 16.97 vs. APAM: 6.16 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
APAM' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 2.78  Med: 4.13 Max: 19.69
Current: 6.16
2.78
19.69
Price-to-Operating-Cash-Flow 6.04
APAM's Price-to-Operating-Cash-Flow is ranked higher than
79% of the 800 Companies
in the Global Asset Management industry.

( Industry Median: 17.26 vs. APAM: 6.04 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
APAM' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 2.72  Med: 4.03 Max: 18.78
Current: 6.04
2.72
18.78
EV-to-EBIT 10.87
APAM's EV-to-EBIT is ranked higher than
50% of the 1145 Companies
in the Global Asset Management industry.

( Industry Median: 9.97 vs. APAM: 10.87 )
Ranked among companies with meaningful EV-to-EBIT only.
APAM' s EV-to-EBIT Range Over the Past 10 Years
Min: -6.5  Med: 4.8 Max: 11.09
Current: 10.87
-6.5
11.09
EV-to-EBITDA 10.68
APAM's EV-to-EBITDA is ranked lower than
51% of the 1169 Companies
in the Global Asset Management industry.

( Industry Median: 9.23 vs. APAM: 10.68 )
Ranked among companies with meaningful EV-to-EBITDA only.
APAM' s EV-to-EBITDA Range Over the Past 10 Years
Min: -6.6  Med: 4.7 Max: 10.9
Current: 10.68
-6.6
10.9
EV-to-Revenue 3.79
APAM's EV-to-Revenue is ranked higher than
72% of the 1289 Companies
in the Global Asset Management industry.

( Industry Median: 5.55 vs. APAM: 3.79 )
Ranked among companies with meaningful EV-to-Revenue only.
APAM' s EV-to-Revenue Range Over the Past 10 Years
Min: 1.1  Med: 1.6 Max: 2.3
Current: 3.79
1.1
2.3
Current Ratio 0.44
APAM's Current Ratio is ranked lower than
95% of the 1015 Companies
in the Global Asset Management industry.

( Industry Median: 4.24 vs. APAM: 0.44 )
Ranked among companies with meaningful Current Ratio only.
APAM' s Current Ratio Range Over the Past 10 Years
Min: 0.32  Med: 0.48 Max: 3.58
Current: 0.44
0.32
3.58
Quick Ratio 0.44
APAM's Quick Ratio is ranked lower than
95% of the 1015 Companies
in the Global Asset Management industry.

( Industry Median: 4.04 vs. APAM: 0.44 )
Ranked among companies with meaningful Quick Ratio only.
APAM' s Quick Ratio Range Over the Past 10 Years
Min: 0.32  Med: 0.48 Max: 3.58
Current: 0.44
0.32
3.58
Days Sales Outstanding 35.09
APAM's Days Sales Outstanding is ranked higher than
56% of the 548 Companies
in the Global Asset Management industry.

( Industry Median: 43.12 vs. APAM: 35.09 )
Ranked among companies with meaningful Days Sales Outstanding only.
APAM' s Days Sales Outstanding Range Over the Past 10 Years
Min: 27.22  Med: 33.36 Max: 40.87
Current: 35.09
27.22
40.87

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 6.55
APAM's Dividend Yield % is ranked higher than
81% of the 1518 Companies
in the Global Asset Management industry.

( Industry Median: 4.04 vs. APAM: 6.55 )
Ranked among companies with meaningful Dividend Yield % only.
APAM' s Dividend Yield % Range Over the Past 10 Years
Min: 0.69  Med: 6.14 Max: 9.64
Current: 6.55
0.69
9.64
Dividend Payout Ratio 1.26
APAM's Dividend Payout Ratio is ranked lower than
63% of the 955 Companies
in the Global Asset Management industry.

( Industry Median: 0.71 vs. APAM: 1.26 )
Ranked among companies with meaningful Dividend Payout Ratio only.
APAM' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 1.26  Med: 1.41 Max: 1.53
Current: 1.26
1.26
1.53
3-Year Dividend Growth Rate 40.80
APAM's 3-Year Dividend Growth Rate is ranked higher than
94% of the 703 Companies
in the Global Asset Management industry.

( Industry Median: 2.90 vs. APAM: 40.80 )
Ranked among companies with meaningful 3-Year Dividend Growth Rate only.
APAM' s 3-Year Dividend Growth Rate Range Over the Past 10 Years
Min: 0  Med: 0 Max: 40.8
Current: 40.8
0
40.8
Forward Dividend Yield % 6.49
APAM's Forward Dividend Yield % is ranked higher than
78% of the 1426 Companies
in the Global Asset Management industry.

( Industry Median: 4.34 vs. APAM: 6.49 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 6.55
APAM's 5-Year Yield-on-Cost % is ranked higher than
74% of the 1834 Companies
in the Global Asset Management industry.

( Industry Median: 2.64 vs. APAM: 6.55 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
APAM' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 0.69  Med: 6.14 Max: 9.64
Current: 6.55
0.69
9.64
3-Year Average Share Buyback Ratio -1.90
APAM's 3-Year Average Share Buyback Ratio is ranked lower than
56% of the 991 Companies
in the Global Asset Management industry.

( Industry Median: -1.00 vs. APAM: -1.90 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
APAM' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -3.7  Med: 0 Max: 0
Current: -1.9
-3.7
0

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 17.71
APAM's Price-to-Tangible-Book is ranked lower than
98% of the 1490 Companies
in the Global Asset Management industry.

( Industry Median: 0.99 vs. APAM: 17.71 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
APAM' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 14.95  Med: 20.74 Max: 517.38
Current: 17.71
14.95
517.38
Price-to-Intrinsic-Value-Projected-FCF 0.71
APAM's Price-to-Intrinsic-Value-Projected-FCF is ranked higher than
80% of the 394 Companies
in the Global Asset Management industry.

( Industry Median: 1.14 vs. APAM: 0.71 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
APAM' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0.51  Med: 0.57 Max: 0.88
Current: 0.71
0.51
0.88
Price-to-Median-PS-Value 1.32
APAM's Price-to-Median-PS-Value is ranked lower than
63% of the 883 Companies
in the Global Asset Management industry.

( Industry Median: 1.02 vs. APAM: 1.32 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
APAM' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.89  Med: 0.99 Max: 2.16
Current: 1.32
0.89
2.16
Price-to-Graham-Number 3.95
APAM's Price-to-Graham-Number is ranked lower than
95% of the 999 Companies
in the Global Asset Management industry.

( Industry Median: 0.73 vs. APAM: 3.95 )
Ranked among companies with meaningful Price-to-Graham-Number only.
APAM' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 3.41  Med: 3.78 Max: 5.45
Current: 3.95
3.41
5.45
Earnings Yield (Greenblatt) % 9.20
APAM's Earnings Yield (Greenblatt) % is ranked higher than
65% of the 1614 Companies
in the Global Asset Management industry.

( Industry Median: 5.40 vs. APAM: 9.20 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
APAM' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -58.6  Med: 19.8 Max: 29.1
Current: 9.2
-58.6
29.1

More Statistics

Revenue (TTM) (Mil) $766.38
EPS (TTM) $ 1.85
Beta1.74
Short Percentage of Float8.38%
52-Week Range $26.30 - 37.55
Shares Outstanding (Mil)75.57

Analyst Estimate

Dec17 Dec18
Revenue (Mil $) 763 814
EPS ($) 2.28 2.44
EPS without NRI ($) 2.28 2.44
EPS Growth Rate
(Future 3Y To 5Y Estimate)
N/A
Dividends per Share ($) 2.76 2.40

Piotroski F-Score Details

Piotroski F-Score: 77
Positive ROAY
Positive CFROAY
Higher ROA yoyY
CFROA > ROAY
Lower Leverage yoyY
Higher Current Ratio yoyY
Less Shares Outstanding yoyN
Higher Gross Margin yoyN
Higher Asset Turnover yoyY

Personalized Checklist

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