APAM
Artisan Partners Asset Management Inc.
APAM has the edge over BLK overall, supported by stronger valuation.
BLK
BlackRock, Inc.
BLK has slightly lower modeled downside risk, despite its lower overall score.
APAM Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
APAM's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like APAM.
BLK Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
BLK's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BLK.
APAM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.9x | $38.02 | -0.2% |
| Current | 8.9x | $38.10 | — |
| Forward | 10x | $38.10 | — |
| Fair | 12x | $50.23 | +32% |
| Expensive | 14x | $58.90 | +55% |
Historical ranges are pointers, not guarantees.
APAM has the edge over BLK in the historical PE scenario, which offers more potential upside but is not a forecast.
BLK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 19x | $848 | -30% |
| Fair | 22x | $973 | -20% |
| Expensive | 26x | $1,149 | -5.5% |
| Current | 28x | $1,217 | — |
Historical ranges are pointers, not guarantees.
BLK's PE is in its expensive range at 28x.
APAM Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Decline | |
| Stable | |
| Weakening | |
| Limited | |
| High |
Analysts expect APAM's earnings and profitability to decline, with its revenue holding steady.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
APAM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.68 | -14% |
| Q3 2026 | $4.27 | +16% |
| Q2 2026 | $4.16 | +10% |
| Q1 2026 | $3.99 | +9.6% |
| Q4 2025 | $4.05 | +11% |
| Q3 2025 | $3.68 | +1.7% |
| Q2 2025 | $3.78 | +13% |
| Q1 2025 | $3.64 | +10% |
| Q4 2024 | $3.66 | +15% |
APAM has the edge over BLK on earnings, with more consistent year-over-year improvement.
BLK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $43.87 | +11% |
| Q2 2026 | $41.73 | -0.4% |
| Q1 2026 | $39.73 | -4.7% |
| Q4 2025 | $35.31 | -17% |
| Q3 2025 | $39.42 | -2.7% |
| Q2 2025 | $41.89 | +4% |
| Q1 2025 | $41.69 | +5.9% |
| Q4 2024 | $42.53 | +16% |
BLK earned $43.87 per share over the past year, up 11% from the year before.
APAM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $312.5M | +3.7% |
| Q2 2026 | $307.9M | +8.9% |
| Q1 2026 | $303M | +9.3% |
| Q4 2025 | $335.5M | +13% |
| Q3 2025 | $301.3M | +7.8% |
| Q2 2025 | $282.7M | +4.4% |
| Q1 2025 | $277.1M | +4.8% |
| Q4 2024 | $297.1M | +19% |
APAM's revenue has grown year over year for 13 quarters in a row: $313M last quarter, up 3.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 35% | +1.3 points |
| Q2 2026 | 27% | -0.7 points |
| Q1 2026 | 31% | -0.1 points |
| Q4 2025 | 39% | +2.5 points |
| Q3 2025 | 34% | +0.5 points |
| Q2 2025 | 28% | -3.8 points |
| Q1 2025 | 31% | +1.8 points |
| Q4 2024 | 37% | +6.1 points |
APAM has the edge over BLK on profitability, with a higher operating margin.
BLK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $7.8B | +19% |
| Q2 2026 | $7.1B | +31% |
| Q1 2026 | $6.7B | +27% |
| Q4 2025 | $7B | +23% |
| Q3 2025 | $6.5B | +25% |
| Q2 2025 | $5.4B | +13% |
| Q1 2025 | $5.3B | +12% |
| Q4 2024 | $5.7B | +23% |
BLK has the edge over APAM on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | 0 points |
| Q2 2026 | 35% | +2.8 points |
| Q1 2026 | 42% | +9.8 points |
| Q4 2025 | 24% | -13 points |
| Q3 2025 | 30% | -8.6 points |
| Q2 2025 | 32% | -5.5 points |
| Q1 2025 | 32% | -3.6 points |
| Q4 2024 | 37% | +2.3 points |
BLK's operating margin was 30% last quarter, about level with the same quarter a year ago, near the bottom of its range since 2019.
APAM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $108.4M | +168% |
| Q2 2026 | $115.4M | +127% |
| Q1 2026 | $181.2M | +15% |
| Q4 2025 | -$77.3M | -311% |
| Q3 2025 | $40.4M | -64% |
| Q2 2025 | $50.9M | -32% |
| Q1 2025 | $157.7M | +7.3% |
| Q4 2024 | $36.7M | +$48.2M |
APAM's free cash flow was $328M over the past year, up 15% from the year before. Free cash flow isn't a meaningful measure for financial services companies like APAM.
BLK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.6B | +95% |
| Q2 2026 | $1.1B | -12% |
| Q1 2026 | -$1.1B | +$120M |
| Q4 2025 | $2.1B | -15% |
| Q2 2025 | $1.3B | -6.1% |
| Q1 2025 | -$1.2B | -$734M |
| Q4 2024 | $2.5B | +35% |
| Q2 2024 | $1.4B | +47% |
BLK's free cash flow was $4.8B over the past year, up 22% from the year before. Free cash flow isn't a meaningful measure for financial services companies like BLK.
APAM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +24.4K shares |
| 1 year | +1.1% | +713K shares |
| 3 years | +4.5% | +2.9M shares |
| 5 years | +18% | +10M shares |
APAM has 66M diluted shares, up 1.1% from a year ago.
BLK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -148K shares |
| 1 year | -0.4% | -677K shares |
| 3 years | +9.3% | +14M shares |
| 5 years | +6.2% | +9.6M shares |
| Available history | +4.4% | +7M shares |
BLK has the edge over APAM on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2025 | $396M |
| Q1 2025 | $657M |
| Q4 2024 | $386M |
| Q2 2024 | $519M |
| Q1 2024 | $634M |
| Q4 2023 | $384M |
| Q3 2023 | $396M |
| Q2 2023 | $383M |
APAM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.4x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.3x | Net Cash |
| Q4 2025 | -0.2x | Net Cash |
| Q3 2025 | -0.4x | Net Cash |
| Q2 2025 | -0.3x | Net Cash |
| Q1 2025 | -0.2x | Net Cash |
| Q4 2024 | -0.2x | Net Cash |
APAM has the edge over BLK on leverage, with a lower net debt burden relative to earnings.
BLK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.0x | Net Cash |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2024 | 0.2x | Very low |
| Q1 2024 | 0.3x | Very low |
| Q4 2023 | 0.1x | Very low |
BLK has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like BLK.
APAM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.1 | Neutral |
| Stochastic | 52.8 | Neutral |
APAM's weekly RSI is 51 (neutral) and its Stochastic is 53 (neutral).
BLK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.5 | Neutral |
| Stochastic | 79.0 | Neutral |
BLK's weekly RSI is 64 (neutral) and its Stochastic is 79 (neutral).
APAM PE vs Financial Services Sector
| Metric | APAM | Sector median | Relative |
|---|---|---|---|
| PE | 8.9x | 13x | 31% below |
| PE % | 17 | 63 | 46 pts below |
APAM has the edge over BLK on valuation relative to its sector.
BLK PE vs Financial Services Sector
| Metric | BLK | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 113% above |
| PE % | 97 | 63 | 34 pts above |
BLK is trading at 28x earnings, a 113% premium to the Financial Services sector's median of 13x.
APAM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $35.5 | 7.3% above |
| 20 week MA | $38.0 | 0.3% above |
| 50 week MA | $38.8 | 1.8% below |
| 100 week MA | $40.8 | 6.6% below |
| 200 week MA | $40.3 | 5.5% below |
APAM has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 5.5% below its 200-week average.
BLK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,128.0 | 7.9% above |
| 20 week MA | $1,108.9 | 9.7% above |
| 50 week MA | $1,071.6 | 14% above |
| 100 week MA | $1,051.1 | 16% above |
| 200 week MA | $914.1 | 33% above |
BLK has the edge over APAM on trend strength, trading above more of its moving averages.
APAM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $32.2 | $49.9 | +55% |
| 2021 | $49.9 | $47.0 | -5.9% |
| 2022 | $47.0 | $30.8 | -34% |
| 2023 | $30.8 | $44.2 | +43% |
| 2024 | $44.2 | $44.0 | -0.5% |
| 2025 | $44.0 | $41.8 | -4.9% |
| 2026 YTD | $41.8 | $38.1 | -8.9% |
APAM has finished lower in four of the last six years. It's down 8.9% so far in 2026.
BLK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $503.0 | $707.2 | +41% |
| 2021 | $707.2 | $913.9 | +29% |
| 2022 | $913.9 | $703.9 | -23% |
| 2023 | $703.9 | $811.8 | +15% |
| 2024 | $811.8 | $1,044.2 | +29% |
| 2025 | $1,044.2 | $1,088.1 | +4.2% |
| 2026 YTD | $1,088.1 | $1,216.6 | +12% |
BLK has the edge over APAM on returns for 2026, with the stronger performance.