Filing Flows › Artisan Partners Asset Management (APAM) › Q3 2025
Artisan Partners Asset Management (APAM) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 31, 2025
Artisan Partners Asset Management (APAM) reported revenue of $301M for the third quarter 2025 (Q3 2025), +8% from a year earlier and +7% from the quarter before. Operating margin was 33.8%, net earnings $66.8M (22.2% of revenue).
Artisan Partners Asset Management, Q3 2025: revenue $301M (+8% year over year), operating margin 33.8%, net earnings $66.8M, operating cash flow $40.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $301M | +7% | +8% |
| Operating profit | $102M | +28% | +9% |
| Net earnings | $66.8M | -1% | -8% |
| Operating cash flow | $40.4M | -21% | -64% |
| Free cash flow | $40.4M | -21% | -64% |
What changed
Revenue was $301.3M in Q3 2025, up 8% year over year and up 7% from the previous quarter.
Operating profit was $101.8M, a 33.8% margin (up 0.5 points year over year). Of the extra revenue versus a year earlier, 40% reached operating profit, above the 33% margin then. Total costs grew 7% against revenue growth of 8%. The fastest-growing cost line was Sales & marketing (+18%). Net earnings were $66.8M, down 8% year over year. The effective tax rate was 30.0%.
Operating cash flow was $40.4M (down 64% year over year), 47% of net income including minority interests. Non-cash charges added back $2.3M of depreciation and amortization and $6.7M of share-based compensation. Working capital and other items used $55.1M. Capital expenditures of $35K left free cash flow of $40.4M.
Questions
What was Artisan Partners Asset Management's revenue in the third quarter 2025?
Artisan Partners Asset Management (APAM) reported revenue of $301M for the third quarter 2025 (Q3 2025), +8% from a year earlier and +7% from the quarter before.
Was Artisan Partners Asset Management profitable in the third quarter 2025?
Operating profit was $102M (33.8% of revenue) and net earnings $66.8M.
Source: Artisan Partners Asset Management 10-Q on SEC EDGAR.