Filing Flows › Artisan Partners Asset Management (APAM) › Q2 2026 › vs Q2 2025
Artisan Partners Asset Management (APAM) Q2 2026 vs Q2 2025 (year over year)
Artisan Partners Asset Management's revenue rose $25.2M (+9%) from $283M in Q2 2025 to $308M in Q2 2026. The biggest changes: Management fees +$25.0M (+9%); Performance fees +$200K (—). Operating margin 27.5% against 28.2% (-0.7 pts).
Artisan Partners Asset Management, Q2 2026: revenue $308M (+9% year over year), operating margin 27.5%, net earnings $80.8M, operating cash flow $116M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 27.5% | 28.2% | -0.7 pts |
| Net margin | 26.3% | 23.9% | +2.4 pts |
| Free cash flow margin | 37.5% | 18.0% | +19.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Management fees | $308M | $283M | $25.0M | +9% |
| Performance fees | $200K | $0 | $200K | — |
| Revenue | $308M | $283M | $25.2M | +9% |
| Other income, net | $42.1M | $41.1M | $1.0M | +2% |
| Operating profit | $84.6M | $79.8M | $4.9M | +6% |
| Costs & expenses | $223M | $203M | $20.3M | +10% |
| Pre-tax earnings | $127M | $121M | $5.9M | +5% |
| Sales & marketing | $7.7M | $6.7M | $984K | +15% |
| Other operating costs | $216M | $196M | $19.3M | +10% |
| Net earnings | $80.8M | $67.6M | $13.3M | +20% |
| Minority interests | $20.0M | $28.4M | −$8.4M | -30% |
| Income tax | $25.9M | $24.9M | $1.0M | +4% |
| Depreciation & amortization | $2.2M | $2.5M | −$243K | -10% |
| Share-based compensation | $6.9M | $6.9M | $10K | +0.1% |
| Working capital & other | $25.9M | −$26.0M | $51.8M | — |
| Operating cash flow | $116M | $50.9M | $64.9M | +127% |
| Free cash flow (OCF − capex) | $115M | $50.9M | $64.5M | +127% |
| Capital expenditures | $373K | $63K | $310K | +492% |
Questions
How much did Artisan Partners Asset Management's revenue grow year over year in Q2 2026?
Artisan Partners Asset Management's revenue rose $25.2M (+9%) from $283M in Q2 2025 to $308M in Q2 2026.
What drove Artisan Partners Asset Management's revenue change in Q2 2026?
Management fees +$25.0M (+9%); Performance fees +$200K (—).