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Fundamental analysis: Artisan Partners Asset Management Inc. (APAM)

Awarener score: 8.1

Conclusion

Note: All scores range from 1 (worst) to 10 (best). Conclusions are updated daily with closing stock prices and new reported quarterly financial statements.

Revenue score: 4.5

• Business has been slightly shrinking. It's been below average when measured against peer companies.
• Artisan Partners Asset Management Inc. business trend isn't so stable. The higher the stability, the lower the risk. It looks somewhat better than rivals.

Margins score: 9.0

• APAM profit margins -on goods and services sold- are usually very good. They stand well ranked against rival companies.
• Business profit on sales tends to be huge. It's great when measured against competitors.
• Profits on sales made -available to repay debt and purchase properties- are usually very good. They remain lacking compared to peers.
• Earnings -before income taxes and interests on loans taken- tend to be excellent in relation to total revenues. They're still somewhat worse than similar companies.
• Profits -before income taxes- are usually huge considering total sales, and remain below average when measured against rivals.
• Total net profit tends to be excellent when confronted to sales. Company stands weak when measured against comparable firms.

Growth score: 4.4

• Artisan Partners Asset Management Inc. profit -on goods and services sold- has been growing at a very low pace. It's been close to average when compared to competitors.
• In recent years, earnings -on operations- have been growing at a very low step, which has been slightly worse than comparable firms.
• Profits -available to repay debt and purchase properties- have been growing at a low pace, which compares below average when measured against peer enterprises.
• Earnings -before income taxes and interests on loans taken- have been growing at a slow tempo. It turns to be close to average when compared to similar stocks.
• In past years, profits -before income taxes- grew at a very low speed. It was somewhat worse than rivals.
• In the previous years, growth on total net profit has been low, and below average when measured against peer companies.
• Earnings per share have grown at a very low rhythm in past years. It's been lacking compared to industry peers.

Miscellaneous score: 7.0

• APAM had hardly to pay income taxes in relation to profits made in the past years. It's been slightly worse than peers.
• The company does not report R&D expenses. It's meaningless to measure in relation to competitors.
• We have insufficient data to estimate how effective is research and development effort. It stands unknown against rival companies.

Profitability score: 10.0

• Artisan Partners Asset Management Inc. usually gets huge returns on the resources it controls. It proves top tier when measured against peer firms.
• The company normally gets huge proceeds -on the resources directly invested in the business-. They remain impressive in relation to similar companies.
• Profitability -in relation to owned resources- is usually paramount. It ranks top tier when measured against competitors.
• In the past, got huge returns -on the tangible resources it controls-. This metric is usually related to the industry in which operates and combines profitability versus reinvestment needs. It's great when measured against comparable enterprises.

Usage of Funds score: 6.2

• APAM usually uses a modest portion of genuine funds generated to buy or replace property, plant, or equipment. The need for reinvestments isn't too high. It stands great when measured against rival firms.
• The company is usually largely investing in new property, plant, and equipment, to expand its operating capabilities, which is top tier when measured against industry peers.
• In the past twelve months it paid outstanding dividends, considering the current stock price. It came better than most competitors.
• In recent years, has slightly cut back dividend payments. The company has behaved close to average when compared to similar firms.
• The company pays more dividends than genuine funds is usually able to generate, therefore borrowing more funds. Future payments may be at risk, especially if a downturn in business occurs. Sustainability looks somewhat worse than comparable companies.
• The company usually enlarges quite a bit the pool of investors, resulting in more mouths feeding on the pie of profits. It remains lacking compared to peer enterprises.
• We are not sure on the effectiveness of the company when repurchasing shares, as there were not enough numbers to crunch. It stands unidentified against rivals.
• We do not have sufficient data to comment on buybacks and their sustainability. It still looks dubious against competitors.

Balance Sheet score: 6.4

• Artisan Partners Asset Management Inc. has no intangible assets (like brands and goodwill) according to accounting books, which is safest. It happens to be top tier when measured against peer companies.
• The company has lower short-term resources than short-term obligations. Unless it's part of the business model, there might be liquidity concerns. It turns to be a disappointment compared to similar firms.
• Roughly a third of resources controlled were provided for with financial debt. Creditors have claims on the company. It remains mediocre against rival firms.
• Controlled resources might be turned into cash and equivalents neither fast nor too slow. Liquidity and risk might be run-of-the-mill. It looks almost average when measured against rivals.
• For every dollar of short-term obligations, the company has less than a dollar of cash and short-term receivables. It's a disappointment compared to peer firms.
• For every dollar of short-term obligations, the company has few cents of cash and equivalents, which is bottom tier against similar enterprises.
• Usually, sales are on a month and a half credit. It still ranks similar to peers.
• Normally has no inventories. It comes up as impressive in relation to competitors.
• On average, it takes close to one month from the purchase to charging customers. It happens to be slightly worse than peers.
• On average pays suppliers after a month and a half from the purchase. It ranks encouraging in relation to industry peers.
• The company pays its suppliers almost when charging its customers, so there's very little money invested in working capital. It's a slight improvement compared to similar companies.
• Company earns net interest income on its investments and therefore is in a quite comfortable financial position. It stands top-notch against rival firms.
• Business earnings have usually been excellent when measured against loans taken. It could take less than two years to repay the obligations with current profitability. It ranks more than average in relation to comparable enterprises.
• Revenues are very good in relation to property, plant, and equipment required to operate. This metric is likely dependent on the industry the company operates in. Low property, plant, and equipment requirements allows the company to keep more money to reward stockholders in the long run. It looks close to average when compared to similar firms.
• Resource exploitation is quite good when yearly sales are considered. This metric is normally tied to the industry where the firm belongs. It's still better than most peer companies.

Valuation score: 7.0

• Artisan Partners Asset Management Inc. looks cheap in relation to profits and financial position. It happens to be similar to competitors.
• Price-to-Tangible-Book-Value is a fairly complex metric. Run again in analytical mode if you're interested in a technical explanation. It remains in a weak position compared to peers.
• In the past twelve months, the company generated excellent free funds in relation to the stock price, which stands slightly better than similar companies.
• The company usually generates plenty more genuine funds to cover up for its business needs. Surplus cash may be used to repay loans, to eventually buy new businesses, or to reward investors. Considering the financial position and stock price, at the current price the share looks to be very attractive. It's still more than average in relation to industry firms.
• In the past twelve months, the company has significantly rewarded investors, considering both dividends and share on the pie of earnings. It came up excellent in relation to peer ventures.
• The company has barely more debt than cash. It may borrow extra money if it wishes so, or start cumulating cash for future uses. It looks mediocre against similar enterprises.
• Considering the past twelve months, traditional Price-to-Earnings relation might be reasonable. It ranks encouraging in relation to peer companies.
• Comparing the current stock price with the past twelve-months revenues gives a three or four to one relationship. This is an important metric to check its evolution through time, and to compare to industry peers. It looks excellent in relation to rival firms.
• The relation between the stock price and accounting book value is extremely high, which may be good or bad depending on context. Run again in analytic mode if you want to dig deeper. The company remains worse than most peer firms.
• In the past twelve months, the operating business earned great money when compared to the current stock price and financial position. It happens to be similar to industry peers.
• In an alternate metric of bang for the buck, the company has usually shown an excellent earnings power ability when measured against the current stock price and financial position. Further analysis is recommended, as the stock might currently be undervalued. It's still rather normal in relation to peer companies.

Total score: 6.8

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Awarener score: 8.1

Conclusion

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