Filing Flows › Artisan Partners Asset Management (APAM) › Q3 2026 › vs Q3 2025
Artisan Partners Asset Management (APAM) Q3 2026 vs Q3 2025 (year over year)
Artisan Partners Asset Management's revenue rose $11.2M (+4%) from $301M in Q3 2025 to $313M in Q3 2026. The biggest changes: Management fees +$11.2M (+4%); Performance fees +$14K (+67%). Operating margin 35.1% against 33.8% (+1.3 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 35.1% | 33.8% | +1.3 pts |
| Net margin | 24.1% | 22.2% | +1.9 pts |
| Free cash flow margin | 34.7% | 13.4% | +21.3 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Management fees | $312M | $301M | $11.2M | +4% |
| Performance fees | $35K | $21K | $14K | +67% |
| Revenue | $313M | $301M | $11.2M | +4% |
| Operating profit | $110M | $102M | $8.0M | +8% |
| Costs & expenses | $203M | $199M | $3.3M | +2% |
| Pre-tax earnings | $108M | $123M | −$15.1M | -12% |
| Other expense, net | $1.4M | −$21.6M | $23.0M | — |
| Sales & marketing | $7.8M | $7.5M | $282K | +4% |
| Other operating costs | $195M | $192M | $3.0M | +2% |
| Net earnings | $75.2M | $66.8M | $8.4M | +13% |
| Minority interests | $13.5M | $19.6M | −$6.2M | -31% |
| Income tax | $19.7M | $37.0M | −$17.3M | -47% |
| Depreciation & amortization | $2.2M | $2.3M | −$178K | -8% |
| Share-based compensation | $6.6M | $6.7M | −$168K | -2% |
| Working capital & other | $26.0M | −$35.5M | $61.5M | — |
| Operating cash flow | $110M | $40.4M | $69.5M | +172% |
| Free cash flow (OCF − capex) | $108M | $40.4M | $68.0M | +168% |
| Capital expenditures | $1.5M | $35K | $1.5M | 44× |
Questions
How much did Artisan Partners Asset Management's revenue grow year over year in Q3 2026?
Artisan Partners Asset Management's revenue rose $11.2M (+4%) from $301M in Q3 2025 to $313M in Q3 2026.
What drove Artisan Partners Asset Management's revenue change in Q3 2026?
Management fees +$11.2M (+4%); Performance fees +$14K (+67%).