Filing Flows › Artisan Partners Asset Management (APAM) › Q2 2025
Artisan Partners Asset Management (APAM) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 1, 2025
Artisan Partners Asset Management (APAM) reported revenue of $283M for the second quarter 2025 (Q2 2025), +4% from a year earlier and +2% from the quarter before. Operating margin was 28.2%, net earnings $67.6M (23.9% of revenue).
Artisan Partners Asset Management, Q2 2025: revenue $283M (+4% year over year), operating margin 28.2%, net earnings $67.6M, operating cash flow $50.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $283M | +2% | +4% |
| Operating profit | $79.8M | -8% | -8% |
| Net earnings | $67.6M | +10% | +17% |
| Operating cash flow | $50.9M | -68% | -33% |
| Free cash flow | $50.9M | -68% | -32% |
What changed
Revenue was $282.7M in Q2 2025, up 4% year over year and up 2% from the previous quarter.
Operating profit was $79.8M, a 28.2% margin (down 3.8 points year over year). Operating profit fell $6.9M even though revenue rose $11.9M versus a year earlier, so costs grew faster than sales. Total costs grew 10% against revenue growth of 4%. The fastest-growing cost line was Other operating costs (+10%). Net earnings were $67.6M, up 17% year over year. The effective tax rate was 20.6%. Non-operating items added $41.1M, 34% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $50.9M (down 33% year over year), 53% of net income including minority interests. Non-cash charges added back $2.5M of depreciation and amortization and $6.9M of share-based compensation. Working capital and other items used $54.4M. Capital expenditures of $63K left free cash flow of $50.9M.
Questions
What was Artisan Partners Asset Management's revenue in the second quarter 2025?
Artisan Partners Asset Management (APAM) reported revenue of $283M for the second quarter 2025 (Q2 2025), +4% from a year earlier and +2% from the quarter before.
Was Artisan Partners Asset Management profitable in the second quarter 2025?
Operating profit was $79.8M (28.2% of revenue) and net earnings $67.6M.
Source: Artisan Partners Asset Management 10-Q on SEC EDGAR.