ARTISAN PARTNERS ASSET MA -A (APAM)

US04316A1088 - Common Stock

45.845  +0.28 (+0.63%)

Fundamental Rating

5

APAM gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 208 industry peers in the Capital Markets industry. APAM has an excellent profitability rating, but there are some minor concerns on its financial health. APAM is not valued too expensively and it also shows a decent growth rate.



7

1. Profitability

1.1 Basic Checks

In the past year APAM was profitable.
In the past year APAM had a positive cash flow from operations.
Each year in the past 5 years APAM has been profitable.
In the past 5 years APAM always reported a positive cash flow from operatings.

1.2 Ratios

With an excellent Return On Assets value of 14.40%, APAM belongs to the best of the industry, outperforming 95.15% of the companies in the same industry.
With an excellent Return On Equity value of 62.44%, APAM belongs to the best of the industry, outperforming 99.03% of the companies in the same industry.
APAM's Return On Invested Capital of 30.06% is amongst the best of the industry. APAM outperforms 98.06% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for APAM is significantly above the industry average of 10.74%.
The 3 year average ROIC (47.74%) for APAM is well above the current ROIC(30.06%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 14.4%
ROE 62.44%
ROIC 30.06%
ROA(3y)18.18%
ROA(5y)17.1%
ROE(3y)81.02%
ROE(5y)89.96%
ROIC(3y)47.74%
ROIC(5y)52%

1.3 Margins

Looking at the Profit Margin, with a value of 20.76%, APAM is in line with its industry, outperforming 54.85% of the companies in the same industry.
In the last couple of years the Profit Margin of APAM has grown nicely.
Looking at the Operating Margin, with a value of 31.13%, APAM is in line with its industry, outperforming 51.94% of the companies in the same industry.
In the last couple of years the Operating Margin of APAM has declined.
Industry RankSector Rank
OM 31.13%
PM (TTM) 20.76%
GM N/A
OM growth 3Y-7.96%
OM growth 5Y-3.29%
PM growth 3Y-0.46%
PM growth 5Y4.37%
GM growth 3YN/A
GM growth 5YN/A

5

2. Health

2.1 Basic Checks

APAM has more shares outstanding than it did 1 year ago.
APAM has more shares outstanding than it did 5 years ago.
The debt/assets ratio for APAM has been reduced compared to a year ago.

2.2 Solvency

APAM has an Altman-Z score of 3.31. This indicates that APAM is financially healthy and has little risk of bankruptcy at the moment.
APAM has a better Altman-Z score (3.31) than 77.67% of its industry peers.
The Debt to FCF ratio of APAM is 0.83, which is an excellent value as it means it would take APAM, only 0.83 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 0.83, APAM belongs to the top of the industry, outperforming 88.83% of the companies in the same industry.
APAM has a Debt/Equity ratio of 0.61. This is a neutral value indicating APAM is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.61, APAM is in the better half of the industry, outperforming 64.56% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 0.83
Altman-Z 3.31
ROIC/WACCN/A
WACCN/A

2.3 Liquidity

A Current Ratio of 0.52 indicates that APAM may have some problems paying its short term obligations.
APAM has a worse Current ratio (0.52) than 75.73% of its industry peers.
A Quick Ratio of 0.52 indicates that APAM may have some problems paying its short term obligations.
APAM's Quick ratio of 0.52 is on the low side compared to the rest of the industry. APAM is outperformed by 75.73% of its industry peers.
Industry RankSector Rank
Current Ratio 0.52
Quick Ratio 0.52

4

3. Growth

3.1 Past

APAM shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -7.69%.
The Earnings Per Share has been decreasing by -0.41% on average over the past years.
The Revenue has decreased by -1.83% in the past year.
APAM shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.31% yearly.
EPS 1Y (TTM)-7.69%
EPS 3Y-4.72%
EPS 5Y-0.41%
EPS growth Q2Q20%
Revenue 1Y (TTM)-1.83%
Revenue growth 3Y2.73%
Revenue growth 5Y3.31%
Revenue growth Q2Q10.18%

3.2 Future

Based on estimates for the next years, APAM will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.38% on average per year.
The Revenue is expected to grow by 9.82% on average over the next years. This is quite good.
EPS Next Y14.66%
EPS Next 2Y11.38%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year11.85%
Revenue Next 2Y9.82%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.

5

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 15.92, the valuation of APAM can be described as correct.
APAM's Price/Earnings ratio is in line with the industry average.
The average S&P500 Price/Earnings ratio is at 26.42. APAM is valued slightly cheaper when compared to this.
With a Price/Forward Earnings ratio of 13.88, APAM is valued correctly.
APAM's Price/Forward Earnings is on the same level as the industry average.
APAM's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.74.
Industry RankSector Rank
PE 15.92
Fwd PE 13.88

4.2 Price Multiples

APAM's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. APAM is cheaper than 76.70% of the companies in the same industry.
APAM's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. APAM is cheaper than 61.16% of the companies in the same industry.
Industry RankSector Rank
P/FCF 15.28
EV/EBITDA 11.7

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
APAM has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1.09
PEG (5Y)N/A
EPS Next 2Y11.38%
EPS Next 3YN/A

5

5. Dividend

5.1 Amount

APAM has a Yearly Dividend Yield of 5.45%, which is a nice return.
Compared to an average industry Dividend Yield of 7.69, APAM has a dividend in line with its industry peers.
APAM's Dividend Yield is rather good when compared to the S&P500 average which is at 2.34.
Industry RankSector Rank
Dividend Yield 5.45%

5.2 History

The dividend of APAM has a limited annual growth rate of 0.87%.
APAM has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)0.87%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

APAM pays out 90.60% of its income as dividend. This is not a sustainable payout ratio.
The dividend of APAM is growing, but earnings are growing more, so the dividend growth is sustainable.
DP90.6%
EPS Next 2Y11.38%
EPS Next 3YN/A

ARTISAN PARTNERS ASSET MA -A

NYSE:APAM (3/28/2024, 2:49:23 PM)

45.845

+0.28 (+0.63%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap3.66B
Analysts
Price Target
Dividend
Industry RankSector Rank
Dividend Yield 5.45%
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
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Revenue beat(2)
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Revenue beat(16)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
Industry RankSector Rank
PE 15.92
Fwd PE 13.88
P/S
P/FCF
P/OCF
P/B
P/tB
EV/EBITDA
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)1.09
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 14.4%
ROE 62.44%
ROCE
ROIC
ROICexc
ROICexgc
OM 31.13%
PM (TTM) 20.76%
GM N/A
FCFM
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.69
Health
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF
Debt/EBITDA
Cap/Depr
Cap/Sales
Interest Coverage
Cash Conversion
Profit Quality
Current Ratio 0.52
Quick Ratio 0.52
Altman-Z
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-7.69%
EPS 3Y-4.72%
EPS 5Y
EPS growth Q2Q
EPS Next Y14.66%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-1.83%
Revenue growth 3Y2.73%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y