Filing Flows › Artisan Partners Asset Management (APAM) › Q1 2026
Artisan Partners Asset Management (APAM) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
Artisan Partners Asset Management (APAM) reported revenue of $303M for the first quarter 2026 (Q1 2026), +9% from a year earlier and -10% from the quarter before. Operating margin was 31.1%, net earnings $58.0M (19.2% of revenue).
Artisan Partners Asset Management, Q1 2026: revenue $303M (+9% year over year), operating margin 31.1%, net earnings $58.0M, operating cash flow $182M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $303M | -10% | +9% |
| Operating profit | $94.2M | -28% | +9% |
| Net earnings | $58.0M | -39% | -5% |
| Operating cash flow | $182M | — | +15% |
| Free cash flow | $181M | — | +15% |
What changed
Revenue was $303.0M in Q1 2026, up 9% year over year and down 10% from the previous quarter. Management fees was the largest line at 100% of revenue. Management fees added $25.7M year over year (up 9%), 99% of the total change.
Operating profit was $94.2M, a 31.1% margin (down 0.1 points year over year). Of the extra revenue versus Q1 2025, 30% reached operating profit, below the 31% margin then. Total costs grew 10% against revenue growth of 9%. The fastest-growing cost line was Sales & marketing (+16%). Net earnings were $58.0M, down 5% year over year. The effective tax rate was 21.7%.
Operating cash flow was $181.8M (up 15% year over year), 269% of net income including minority interests. Non-cash charges added back $2.3M of depreciation and amortization and $7.2M of share-based compensation. Working capital and other items added $104.6M. Capital expenditures of $518K left free cash flow of $181.2M.
Questions
What was Artisan Partners Asset Management's revenue in the first quarter 2026?
Artisan Partners Asset Management (APAM) reported revenue of $303M for the first quarter 2026 (Q1 2026), +9% from a year earlier and -10% from the quarter before.
Was Artisan Partners Asset Management profitable in the first quarter 2026?
Operating profit was $94.2M (31.1% of revenue) and net earnings $58.0M.
Source: Artisan Partners Asset Management 10-Q on SEC EDGAR.