Filing Flows › Artisan Partners Asset Management (APAM) › Q3 2026 › vs Q2 2026
Artisan Partners Asset Management (APAM) Q3 2026 vs Q2 2026 (quarter over quarter)
Artisan Partners Asset Management's revenue rose $4.6M (+1%) from $308M in Q2 2026 to $313M in Q3 2026. The biggest changes: Management fees +$4.8M (+2%); Performance fees −$165K (-82%). Operating margin 35.1% against 27.5% (+7.6 pts).
Artisan Partners Asset Management, Q3 2026: revenue $313M (+4% year over year), operating margin 35.1%, net earnings $75.2M, operating cash flow $110M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 35.1% | 27.5% | +7.6 pts |
| Net margin | 24.1% | 26.3% | -2.2 pts |
| Free cash flow margin | 34.7% | 37.5% | -2.8 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Management fees | $312M | $308M | $4.8M | +2% |
| Performance fees | $35K | $200K | −$165K | -82% |
| Revenue | $313M | $308M | $4.6M | +1% |
| Operating profit | $110M | $84.6M | $25.2M | +30% |
| Costs & expenses | $203M | $223M | −$20.5M | -9% |
| Pre-tax earnings | $108M | $127M | −$18.4M | -14% |
| Other expense, net | $1.4M | −$42.1M | $43.5M | — |
| Sales & marketing | $7.8M | $7.7M | $87K | +1% |
| Other operating costs | $195M | $216M | −$20.6M | -10% |
| Net earnings | $75.2M | $80.8M | −$5.6M | -7% |
| Minority interests | $13.5M | $20.0M | −$6.5M | -33% |
| Income tax | $19.7M | $25.9M | −$6.2M | -24% |
| Depreciation & amortization | $2.2M | $2.2M | −$77K | -3% |
| Share-based compensation | $6.6M | $6.9M | −$318K | -5% |
| Working capital & other | $26.0M | $25.9M | $166K | +0.6% |
| Operating cash flow | $110M | $116M | −$5.9M | -5% |
| Free cash flow (OCF − capex) | $108M | $115M | −$7.0M | -6% |
| Capital expenditures | $1.5M | $373K | $1.2M | +312% |
Questions
How much did Artisan Partners Asset Management's revenue grow quarter over quarter in Q3 2026?
Artisan Partners Asset Management's revenue rose $4.6M (+1%) from $308M in Q2 2026 to $313M in Q3 2026.
What drove Artisan Partners Asset Management's revenue change in Q3 2026?
Management fees +$4.8M (+2%); Performance fees −$165K (-82%).