Stock fact sheet · data as of
Artisan Partners Asset Management Inc. (APAM): fair value, margin of safety and Wheel Score
Financial Services · Asset Management · United States · High Yield Income
Is APAM undervalued?
APAM has a margin of safety of 34%: the stock closed at 32.76 on 16 Oct 2026 against a GLS average fair value of 49.27. 6 of the 9 valuation models that produced a number sit above the price. Our screens treat a discount this large as a strong starting point for a cash-secured put, not as a verdict - the fair value is a model output, and a wide gap can mean the models are missing something the market knows.
There is a wide gap between GLS Growth (15.17) and 10 Cap (97.92). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files APAM under High Yield Income: a dividend yield above 4%.
Nine valuation models for APAM
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 42.96 | +31% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 24.79 | -24% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 67.90 | +107% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 16.83 | -49% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 15.17 | -54% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 97.92 | +199% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 71.79 | +119% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 59.30 | +81% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 46.76 | +43% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -4.98 | -115% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 36.33 | +11% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Artisan Partners Asset Management Inc. scores 6 of 9 on the Piotroski F-score: a middling result that passes the Sunday Scan's "6 or more" rule. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. On durability APAM scores 5.4/10 on the GLS Moat - a middle reading; the Scorecard on the Quote page's Financials tab shows which ten-year lines are steady and which are not.
Returns on capital are high - ROIC 38.8%, ROE 66.2%, ROA 18.4% - with debt at 0.71 times equity and a free-cash-flow yield of 11.2%.
The dividend yield is high at 12.30% (payout ratio 94%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Asset Management 100%, Investment Performance 0% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 38.8% |
|---|---|---|---|
| GLS Moat | 5.4 / 10 | ROE | 66.2% |
| Debt / equity | 0.71 | ROA | 18.4% |
| Free-cash-flow yield | 11.2% | Payout ratio | 94% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 79: Good
With a Wheel Score of 79 - the Good band - Artisan Partners Asset Management Inc. clears the Sunday Scan's "70 or higher" rule. The parts: Value 25/25, Health 13/20, Moat 8/15, Premium 19/20, Stability 13/20; Moat (8/15) scores lowest.
Implied volatility is 34% on the near-the-money contracts 20-60 days out: some premium, but under the 35-60% range the Wheel Score pays full marks for (19 of 20 points). Chain open interest is 2,606 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 799k shares a day on a market cap of $2.3B, with a beta of 1.69 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score gives that 13 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 34% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 8 / 15 | moat 5.4/10 | |
| Premium | 19 / 20 | implied volatility 34% | |
| Stability | 13 / 20 | 799k shares/day, $2.3B cap, beta 1.69 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Artisan Partners Asset Management Inc. reports earnings on 27 Oct 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Asset Management
The 12 companies below are the closest to Artisan Partners Asset Management Inc. by market cap within the Asset Management industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
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| CEMDX Cullen Emerging Markets High Dividend Fd Retail Cl | 18.55 | 472.53 | +96% | 39No options | $2.3B |
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| KYN Kayne Anderson Energy Infrastructure Fund Inc. | 13.94 | 30.91 | +55% | 70Good | $2.4B |
| GEMAX Goldman Sachs Emerging Markets Fund Class A | 33.13 | 992.32 | +97% | 39No options | $2.3B |
| CIPMX Champlain Mid Cap Fund Advisor Class | 21.43 | 23,427.40 | +100% | 39No options | $2.3B |
| SMMCX Western Asset Managed Municipals Fund Class C | 13.95 | 11.10 | -26% | 31No options | $2.3B |
| SHMMX Western Asset Managed Municipals Fund | 13.94 | 11.70 | -19% | 36No options | $2.3B |
| SMMOX Western Asset Managed Municipals Fund | 13.92 | 11.82 | -18% | 34No options | $2.2B |
| FBTAX Fidelity Advisor Biotechnology Fund Class A | 45.43 | 27.33 | -66% | 39No options | $2.4B |
| ARTOX American Century One Choice in Retirement Portfolio Investor Class | 12.94 | 3.77 | -244% | 19No options | $2.2B |
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Start free See the Sunday ScanQuestions about APAM
Is APAM undervalued right now?
By the GLS models, yes: at 32.76 the stock is 34% below the average fair value of 49.27 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of APAM and what does it mean?
APAM scores 79 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for APAM?
49.27 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Artisan Partners Asset Management Inc. report earnings next?
The next earnings report is due on 27 Oct 2026 (after the close), 11 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does APAM have listed options, and how liquid are they?
Yes. The nightly snapshot found 88 listed contracts with 2,606 open interest across all expiries and implied volatility of 34% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.