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Artisan Partners Asset Management cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$108M in Q3 2026 · $328M over twelve months

Operating cash flow$110M
Capital spending−$1.5M
Free cash flow+$108M
Cash / net income1.2×

Analysis

In Q3 2026, Artisan Partners Asset Management generated $110M of operating cash flow and spent $1.5M on capital projects, leaving free cash flow of $108M. That is $68.0M more than in Q3 2025 ($40.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $330M; the largest uses were dividends ($287M), partners ($59.0M), taxes on employees’ shares ($4.5M); besides operations, cash came from other financing ($44.6M), other investing ($44.0M); the cash balance rose by $65.6M.

Operating cash flow was $110M against net income of $88.7M — 1.2× profit, cash ran ahead of reported earnings. The largest differences: payables +$21.2M, receivables −$10.4M, prepaid and other assets −$9.4M.

Free cash flow

Artisan Partners Asset Management: free cash flow by quarterArtisan Partners Asset Management: free cash flow by quarter$36.7MQ4 2024$158MQ1 2025$50.9MQ2 2025$40.4MQ3 2025−$77.3MQ4 2025$181MQ1 2026$115MQ2 2026$108MQ3 2026
Operating cash flow less capital spending.
Artisan Partners Asset Management: operating cash flow against capital spendingArtisan Partners Asset Management: operating cash flow against capital spendingOperating cash flowCapital spending$37.2M$464KQ4 2024$158M$206KQ1 2025$50.9M$63KQ2 2025$40.4M$35KQ3 2025−$77.2M$67KQ4 2025$182M$518KQ1 2026$116M$373KQ2 2026$110M$1.5MQ3 2026
Latest (Q3 2026): Operating cash flow $110M, Capital spending $1.5M.

Capital allocation, year by year

Artisan Partners Asset Management: where the cash came from (up) and went (down), by fiscal yearArtisan Partners Asset Management: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingDividendsFY2021: Operating cash flow $399MFY2021: Shares issued $46.9MFY2021: Capital spending −$2.4MFY2021: Dividends −$275M$445MFY2021FY2022: Operating cash flow $313MFY2022: Capital spending −$6.6MFY2022: Dividends −$249M$313MFY2022FY2023: Operating cash flow $253MFY2023: Capital spending −$2.3MFY2023: Dividends −$183M$253MFY2023FY2024: Operating cash flow $373MFY2024: Capital spending −$1.6MFY2024: Dividends −$222M$373MFY2024FY2025: Operating cash flow $172MFY2025: Net borrowing −$10.0MFY2025: Capital spending −$371KFY2025: Dividends −$257M$172MFY2025
Over these 5 years operating cash flow totalled $1.5B; the largest uses were dividends ($1.2B) and capital spending ($13.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$378M
Debt$190M
Net cash$188M

Artisan Partners Asset Management funds itself: free cash flow was $328M over the last twelve months, and $378M of cash and investments stands against $190M of debt.

Where the cash came from and went

Artisan Partners Asset Management: sources (+) and uses (−) of cash, Q3 2026Artisan Partners Asset Management: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$110MDividends−$57.3MCash drawn (+) / kept (−)−$27.4MPartners−$18.0MOther investing−$10.7MOther financing$5.0MCapital spending−$1.5M
Artisan Partners Asset Management: sources (+) and uses (−) of cash, TTM to Q3 2026Artisan Partners Asset Management: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$330MDividends−$287MCash drawn (+) / kept (−)−$65.6MPartners−$59.0MOther financing$44.6MOther investing$44.0MTaxes on employees’ shares−$4.5MCapital spending−$2.5M

From profit to cash

Artisan Partners Asset Management: net income to operating cash flow, Q3 2026Artisan Partners Asset Management: net income to operating cash flow, Q3 2026Net income$88.7MDepreciation & amortization$2.2MStock-based pay$6.6MDeferred taxes$5.3MGains on disposals$3KReceivables−$10.4MPayables$21.2MPrepaid and other assets−$9.4MOperating cash flow$110M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsDividendsCash drawn (+) / kept (−)Free cash flow
Q3 2026$110M−$1.5M—−$57.3M−$27.4M$108M
Q2 2026$116M−$373K$22K−$55.1M−$50.2M$115M
Q1 2026$182M−$518K−$22.5M−$112M−$74.7M$181M
Q4 2025−$77.2M−$67K—−$62.4M$86.7M−$77.3M
Q3 2025$40.4M−$35K—−$51.8M−$30.6M$40.4M
Q2 2025$50.9M−$63K—−$48.2M−$52.6M$50.9M
Q1 2025$158M−$206K—−$94.7M−$27.7M$158M
Q4 2024$37.2M−$464K—−$57.9M$11.6M$36.7M

Artisan Partners Asset Management: income statement and cash flow

Artisan Partners Asset Management, Q3 2026: revenue $313M (+4% year over year), operating margin 35.1%. The chart follows the revenue to costs, profit and cash.

Artisan Partners Asset Management: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.