What is Artisan Partners Asset Management Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Artisan Partners Asset Management Inc.'s reported free cash flow gives $53.59 per share. The share price was $36.16 on September 25, 2026, 33% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 1.0% | 10.0% | $33.96 | -6% |
| Base | 6.0% | 9.0% | $53.59 | +48% |
| Bull | 11.0% | 8.0% | $90.24 | +150% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $67.72 | $72.04 | $77.31 | $83.90 | $92.38 |
| 8.0% | $57.18 | $59.97 | $63.28 | $67.25 | $72.10 |
| 9.0% | $49.47 | $51.38 | $53.59 | $56.16 | $59.21 |
| 10.0% | $43.60 | $44.96 | $46.50 | $48.26 | $50.29 |
| 11.0% | $38.98 | $39.98 | $41.09 | $42.34 | $43.77 |
Where the presets come from
Base: years 1 to 5 grow at Artisan Partners Asset Management Inc.'s revenue growth rate over the last 5 fiscal years (5.9% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions