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 $54.01 per share. The share price was $39.83 on November 9, 2026, 26% 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% | $34.37 | -14% |
| Base | 6.0% | 9.0% | $54.01 | +36% |
| Bull | 11.0% | 8.0% | $90.66 | +128% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $68.14 | $72.46 | $77.73 | $84.32 | $92.80 |
| 8.0% | $57.59 | $60.39 | $63.70 | $67.67 | $72.52 |
| 9.0% | $49.89 | $51.80 | $54.01 | $56.58 | $59.63 |
| 10.0% | $44.01 | $45.37 | $46.92 | $48.68 | $50.71 |
| 11.0% | $39.40 | $40.39 | $41.51 | $42.76 | $44.18 |
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