Artisan Partners Asset Management
Financial ratios & Valuation

Forward Multiples (2025 – 2026)

20252026
Price/Earnings ratio
12.9711.27
Price/Sales ratio
3.058.20
Earnings per Share (EPS)
$3.51$4.04

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
24.8519.3818.9440.186.826.849.078.478.9712.6111.236.82
Price/Sales ratio
2.081.961.912.501.302.063.112.321.862.872.711.30
Price/Book Value ratio
16.0913.6011.7518.437.6811.9314.669.636.648.647.697.68
Price/Cash Flow ratio
4.344.935.119.763.245.648.787.155.9311.077.043.24
Price/Free Cash Flow ratio
4.455.055.2510.053.386.008.877.266.3311.477.703.38
Price/Earnings Growth ratio
-0.60-0.03-1.21-0.760.020.140.51-1.04-0.211.480.110.02
Dividend Yield
21.19%19.30%18.01%6.56%25.10%11.38%7.24%9.63%13.40%6.54%7.18%11.38%
Profitability Indicator Ratios
Gross Profit Margin
49.92%48.56%46.74%49.35%50.13%49.87%51.55%54.12%48.61%45.71%46.02%49.87%
Operating Profit Margin
37.03%35.05%32.48%35.99%36.79%35.48%39.82%44.04%34.64%31.13%35.67%35.48%
Pretax Profit Margin
34.69%32.14%31.14%71.79%36.42%33.70%41.05%44.94%31.39%39.34%38.81%36.42%
Net Profit Margin
8.39%10.15%10.12%6.23%19.10%30.22%34.29%27.42%20.81%22.79%22.45%19.10%
Effective Tax Rate
16.97%18.07%22.93%73.61%15.77%10.32%16.46%19.41%20.33%18.73%19.41%15.77%
Return on Assets
8.19%8.64%7.79%5.92%19.66%25.86%26.77%27.85%15.73%15.81%15.82%25.86%
Return On Equity
64.74%70.15%62.02%45.88%112.66%174.36%161.51%113.68%73.99%68.57%75.06%174.36%
Return on Capital Employed
99.80%89.19%73.83%67.26%77.05%54.28%51.04%72.45%39.97%31.03%34.24%54.28%
Liquidity Ratios
Current Ratio
0.500.380.370.630.660.550.57N/AN/AN/A1.340.66
Quick Ratio
0.470.370.360.540.53-0.02-0.10-0.030.500.711.340.53
Cash ratio
0.330.260.250.330.390.320.340.400.250.410.650.39
Days of Sales Outstanding
30.5427.2129.7941.2431.3537.1641.0834.5838.0742.8643.7131.35
Days of Inventory outstanding
-5.99-7.36-8.82-8.696.70207.58253.71209.42-11.24N/AN/A207.58
Operating Cycle
24.5519.8420.9632.5438.06244.74294.79244.0026.8242.8643.7138.06
Days of Payables Outstanding
19.2915.9014.8422.4918.9749.28112.3031.8836.3041.9351.7918.97
Cash Conversion Cycle
5.263.946.1210.0419.08195.45182.49212.12-9.470.93-8.07195.45
Debt Ratios
Debt Ratio
0.230.210.210.230.240.210.170.160.150.140.120.21
Debt Equity Ratio
1.861.701.691.841.411.431.040.670.710.610.531.43
Long-term Debt to Capitalization
0.650.630.620.640.580.580.510.400.410.380.340.58
Total Debt to Capitalization
0.650.630.620.640.580.580.510.400.410.380.340.58
Interest Coverage Ratio
26.5224.1220.1025.0127.1725.6433.16N/AN/AN/A47.3227.17
Cash Flow to Debt Ratio
1.991.611.351.021.671.471.591.991.571.262.031.67
Company Equity Multiplier
7.908.117.957.745.726.746.034.084.704.334.326.74
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.480.390.370.250.400.360.350.320.310.250.350.36
Free Cash Flow / Operating Cash Flow Ratio
0.970.970.970.970.950.930.990.980.930.960.980.95
Cash Flow Coverage Ratio
1.991.611.351.021.671.471.591.991.571.262.031.67
Short Term Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Dividend Payout Ratio
526.78%374.23%341.45%263.94%171.32%77.92%65.80%81.64%120.28%82.49%82.00%82.00%