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Artisan Partners Asset Management vs Lincoln International: APAM and LCLN compared
Artisan Partners Asset Management is the larger company: $313M of revenue in its latest quarter (Q3 2026) against $294M for Lincoln International (Q3 2026). Lincoln International is growing faster (+57% against +4% a year earlier). Artisan Partners Asset Management is more profitable, with an operating margin of 35.1% against 15.1%.
Where the money goes: APAM and LCLN
Artisan Partners Asset Management (APAM) · Q3 2026
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 follows the revenue to costs, profit and cash.
Lincoln International (LCLN) · Q3 2026
Lincoln International, Q3 2026: revenue $294M (+57% year over year), operating margin 15.1%, net earnings $9.9M, operating cash flow $122M. The chart follows the revenue to costs, profit and cash.
| Artisan Partners Asset Management (APAM) | Lincoln International (LCLN) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $313M | $294M |
| Revenue growth, Y/Y | +4% | +57% |
| Operating margin | 35.1% | 15.1% |
| Net earnings | $75.2M | $9.9M |
| Net margin | 24.1% | 3.4% |
| Operating cash flow | $110M | $122M |
| Free cash flow | $108M | $121M |
| Market value | $2.1B | — |
| P/E | 7.5× | — |
| Analysts’ mean target | $35.00 | — |
Where the revenue comes from
Artisan Partners Asset Management
- Management fees: $312M (100%)
- Performance fees: $35K (0%)
Lincoln International
- Investment Banking Advisory: $240M (82%)
- Valuations and Opinions: $53.8M (18%)
Questions
Which is bigger, Artisan Partners Asset Management or Lincoln International?
Artisan Partners Asset Management is the larger company: $313M of revenue in its latest quarter (Q3 2026) against $294M for Lincoln International (Q3 2026).
Is Artisan Partners Asset Management or Lincoln International growing faster?
Lincoln International is growing faster (+57% against +4% a year earlier).
Which is more profitable, Artisan Partners Asset Management or Lincoln International?
Artisan Partners Asset Management is more profitable, with an operating margin of 35.1% against 15.1%.
More: Artisan Partners Asset Management earnings · how Artisan Partners Asset Management makes money · Lincoln International earnings · how Lincoln International makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.