Artisan Partners Asset Management Inc. (APAM) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 181.76M | -77.25M | 40.42M | 50.94M | 157.87M | 37.17M | 112.76M | 75.88M | 147.02M | -9.77M | 79.7M | 62.17M | 120.94M | 5.99M | 88.51M | 26.62M | 191.5M | -5.62M | 144.66M | 83.27M |
| Operating CF Margin % | 61.53% | -22.03% | 13.42% | 18.02% | 56.96% | 12.51% | 40.33% | 28.02% | 55.62% | -3.93% | 32.04% | 25.59% | 51.57% | 2.65% | 37.77% | 10.59% | 68% | -1.78% | 45.7% | 27.31% |
| Operating CF Growth % | 15.13% | -307.82% | -64.15% | -32.87% | 7.38% | 480.32% | 41.49% | 22.06% | 21.57% | -263.23% | -9.96% | 133.58% | -36.85% | 206.6% | -38.82% | -68.04% | -22.19% | -128.15% | 52.62% | -0.21% |
| Net Income | 58M | 118.08M | 86.47M | 67.56M | 53.84M | 87.51M | 66.81M | 71.25M | 86.7M | 64.76M | 73.43M | 73.78M | 71.8M | 66.3M | 52.48M | 47.17M | 65.43M | 84.62M | 113.37M | 79.44M |
| Depreciation & Amortization | 2.3M | 2.06M | 2.34M | 2.59M | 2.49M | 2.36M | 2.68M | 2.44M | 2.39M | 2.56M | 2.41M | 1.8K | 2.2M | 2.18M | 2.09M | 1.82M | 1.83M | 1.97M | 1.83M | 1.02M |
| Stock-Based Compensation | 0 | 6.27M | 6.86M | 6.86M | 8.49M | 7.73M | 4.6K | 7.9M | 9.23M | 7.68M | 7.89M | 7.75M | 10.31M | 9.92M | 10.02M | 10.12M | 11.34M | 9.55M | 9.74M | 0 |
| Deferred Taxes | 0 | 9.15M | 21.86M | 0 | 0 | 21.72M | 12.03M | 9.83M | 12.64M | 0 | 8.54M | 11.1M | 12.15M | 8.46M | 6.88M | 5.54M | 0 | 0 | 8.11M | 0 |
| Other Non-Cash Items | 17.21M | -74.78M | -109.87M | -37.79M | -10.17M | -53.38M | -22.89M | -8.06M | -51.48M | -93.66M | -8.86M | -96.27M | -39.72M | 31.13M | -61.98M | -65.99M | 116.07M | -77.09M | 6.14M | 46.99M |
| Working Capital Changes | 104.25M | -138.04M | 32.76M | 11.72M | 103.21M | -28.77M | 54.12M | -7.47M | 87.55M | 8.89M | -3.72M | 65.82M | 64.2M | -111.99M | 79.03M | 27.96M | -3.17M | -24.66M | 5.47M | -44.19M |
| Change in Receivables | 11.82M | -36.16M | -4.22M | 8.92M | -3.23M | -10.09M | 3.33M | -3.25M | -6.89M | -2.11M | -845K | 2.41M | 671K | 4.21M | 22.76M | -3.7M | -6.64M | 6.3M | -494K | -6.62M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 93.27M | 0 | 39.35M | 0 | 92.7M | -80.3M | 31.02M | 0 | 87.12M | 0 | 13.79M | 0 | 0 | -78.15M | 0 | 0 | 0 | 0 | 0 | 8.35M |
| Cash from Investing | -12M | 30.95M | 9.84M | 32.74M | -38.28M | -451K | 232K | 4.46M | -29.11M | -1.64M | -1.53M | 1.2M | -36.2M | -3.27M | -7.4M | 3.33M | -56.4M | -838K | -1.06M | -18.88M |
| Capital Expenditures | -543K | -315K | -55K | -88K | -219K | -454K | -514K | -1.92M | -1.86M | -2.36M | -1.84M | -1.36M | -3.07M | -3.27M | -6.71M | -5.61M | -3.98M | -838K | -1.06M | -2.34M |
| CapEx % of Revenue | 0.18% | 0.09% | 0.02% | 0.03% | 0.08% | 0.15% | 0.18% | 0.71% | 0.7% | 0.95% | 0.74% | 0.56% | 1.31% | 1.45% | 2.86% | 2.23% | 1.41% | 0.27% | 0.34% | 0.77% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | 428.7M | 638.28M | 586.71M | 485.97M | 414.65M | 670.93M | 625.69M | 563.92M | 568.39M | 514.62M | 476.06M | 478.4M | 400.64M | 341.16M | 342.54M | 321.97M | 282.76M | 242.88M | 223.71M | 237.92M |
| Other Investing | -8.34M | 0 | 0 | 32.82M | 15.87M | -98.88M | 0 | 0 | -98.52M | 721K | 0 | 0 | 0 | -84.8M | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | -95.09M | -40.37M | -19.68M | -31.05M | -91.86M | -48.3M | -66.14M | -75.98M | -63.79M | -40.65M | -40.61M | -38.85M | -54.85M | -47.09M | -57.41M | -69.7M | -132.19M | -83.24M | -94.95M | -104.29M |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 0 | 0 | 0 | -419K | -8.54M | 0 | 0 | 0 | -6.83M | 0 | 0 | 0 | 0 | -112K | -334K | 0 | -7.42M | -87K | -1.29M | 7.73M |
| Dividends Paid | -112.46M | -62.42M | -51.81M | -48.16M | -94.7M | -57.93M | -50.09M | -42.92M | -71.01M | -44.9M | -42.16M | -34.46M | -61.84M | -38.39M | -41.07M | -51.64M | -117.53M | -71.23M | -65.34M | -56.78M |
| Share Repurchases | 0 | 0 | 0 | -419K | -8.54M | 0 | 0 | 0 | -6.83M | 0 | 0 | 0 | 0 | -112K | -334K | 0 | -7.42M | -87K | -1.29M | 0 |
| Other Financing | 17.37M | 22.04M | 32.13M | 17.53M | 11.39M | 9.63M | -16.05M | -33.06M | 14.05M | 4.24M | 1.55M | -4.39M | 6.99M | -8.59M | -16.01M | -18.06M | -7.25M | -11.93M | -28.32M | -55.24M |
| Net Change in Cash | 74.67M | -86.68M | 30.58M | 52.63M | 27.74M | -11.58M | 46.85M | 4.36M | 50.12M | -52.06M | 32.88M | 24.52M | 29.88M | -44.37M | 23.7M | -39.75M | 2.9M | -89.69M | 48.64M | -39.9M |
| Free Cash Flow | 181.76M | -77.56M | 40.37M | 50.85M | 157.87M | 36.72M | 112.25M | 73.96M | 145.16M | -12.13M | 77.86M | 60.81M | 117.86M | 2.72M | 81.8M | 21.01M | 187.52M | -6.46M | 143.6M | 80.93M |
| FCF Margin % | 61.53% | -22.12% | 13.4% | 17.99% | 56.96% | 12.36% | 40.15% | 27.31% | 54.91% | -4.87% | 31.3% | 25.03% | 50.26% | 1.2% | 34.91% | 8.36% | 66.59% | -2.05% | 45.36% | 26.54% |
| FCF Growth % | 15.13% | -311.25% | -64.04% | -31.24% | 8.76% | 402.7% | 44.18% | 21.63% | 23.16% | -545.79% | -4.83% | 189.43% | -37.15% | 142.15% | -43.03% | -74.04% | -23.27% | -134.71% | 52.44% | -2.59% |
| FCF per Share | 2.55 | -1.09 | 0.57 | 0.72 | 2.23 | 0.52 | 1.72 | 1.14 | 2.26 | -0.18 | 1.22 | 0.96 | 1.86 | 0.04 | 1.31 | 0.34 | 3.02 | -0.11 | 2.39 | 1.35 |
| FCF Conversion (FCF/Net Income) | 3.13x | -0.81x | 0.60x | 0.75x | 2.58x | 0.53x | 1.54x | 1.32x | 2.47x | -0.15x | 1.50x | 1.16x | 2.38x | 0.11x | 2.00x | 0.60x | 2.93x | -0.07x | 1.67x | 0.94x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.68M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10.21M | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |