Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
As of Mar. 2026, Artisan Partners Asset Management has a Sloan Ratio of 2.07%, indicating the company is in the safe zone and there is no funny business with accruals.
Artisan Partners Asset Management (NYSE:APAM) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Mar. 2026, Artisan Partners Asset Management has a Sloan Ratio of 2.07%, indicating the company is in the safe zone and there is no funny business with accruals.
Artisan Partners Asset Management Sloan Ratio % Related Terms
Artisan Partners Asset Management Sloan Ratio % Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Artisan Partners Asset Management Sloan Ratio % Chart
For the Asset Management subindustry, Artisan Partners Asset Management's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Artisan Partners Asset Management Sloan Ratio % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Artisan Partners Asset Management's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Artisan Partners Asset Management's Sloan Ratio % falls into.
Artisan Partners Asset Management Sloan Ratio % Calculation
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Artisan Partners Asset Management's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 67.555 (Jun. 2025 ) + 66.83 (Sep. 2025 ) + 94.796 (Dec. 2025 ) + 58.041 (Mar. 2026 ) = $287 Mil.
Artisan Partners Asset Management's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 50.942 (Jun. 2025 ) + 40.422 (Sep. 2025 ) + -77.25 (Dec. 2025 ) + 181.757 (Mar. 2026 ) = $196 Mil.
Artisan Partners Asset Management's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was 32.736 (Jun. 2025 ) + 9.842 (Sep. 2025 ) + 30.946 (Dec. 2025 ) + -11.997 (Mar. 2026 ) = $62 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Artisan Partners Asset Management (APAM) has a Sloan Ratio % of 2.07% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Artisan Partners Asset Management and its competitors.
Is Artisan Partners Asset Management's Sloan Ratio % too high?
Artisan Partners Asset Management's current Sloan Ratio % is 2.07%. Overall, Artisan Partners Asset Management has a GF Score™ of 78/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Artisan Partners Asset Management's Sloan Ratio % compare to PTY and GDV?
Artisan Partners Asset Management's Sloan Ratio % of 2.07% can be compared against companies in the Asset Management industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Sloan Ratio % for an Asset Management company?
A good Sloan Ratio % depends on the Asset Management industry context. However, Sloan Ratio % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Artisan Partners Asset Management and its competitors. Artisan Partners Asset Management's current Sloan Ratio % is 2.07%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Artisan Partners Asset Management stock overvalued right now?
Based on GuruFocus' analysis, Artisan Partners Asset Management (APAM) is currently considered Modestly Undervalued. The stock's GF Value™ is $47.23, compared to a current price of $36.18 — trading 23.4% below its estimated fair value. The current Sloan Ratio % is 2.07%. Artisan Partners Asset Management's overall GF Score™ is 78/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For Artisan Partners Asset Management (APAM), the current Sloan Ratio % is 2.07% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Artisan Partners Asset Management (APAM) Overvalued in 2026?
Based on GuruFocus' analysis, Artisan Partners Asset Management stock appears to be undervalued.
The current stock price of $36.18 is trading 23.4% below its estimated GF Value™ of $47.23.
GuruFocus considers Artisan Partners Asset Management to be Modestly Undervalued.
Key valuation signals for APAM:
Sloan Ratio %: 2.07%
GF Value™: $47.23 vs. price of $36.18 (23.4% below fair value)
No single metric tells the full story. See the APAM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Artisan Partners Asset Management Business Description
Artisan Partners Asset Management Inc is a 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 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. The company operates as one segment in the investment management business. The company generates maximum portion of its revenues from clients domiciled in countries outside the United States.
78GF Score
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