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Artisan Partners Asset Management Inc.（APAM）与GCM Grosvenor Inc.（GCMG）财务数据对比。点击上方公司名可切换其他公司
Artisan Partners Asset Management Inc.的季度营收约是GCM Grosvenor Inc.的1.9倍（$335.5M vs $177.1M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs 32.8%，领先2.4%），Artisan Partners Asset Management Inc.同比增速更快（12.9% vs 7.2%），GCM Grosvenor Inc.自由现金流更多（$175.0M vs $171.6M），过去两年GCM Grosvenor Inc.的营收复合增速更高（27.5% vs 12.7%）
阿蒂森伙伴资产管理公司（Artisan Partners）是总部位于美国威斯康星州密尔沃基的资产管理机构，除美国本土外，还在都柏林、香港、伦敦、新加坡、悉尼设有办公室，为全球客户提供专业的资产管理服务。
GCM Grosvenor是美国头部另类资产管理机构，截至2023年资产管理规模约760亿美元，拥有约530名专业人士，为全球机构及个人投资者提供定制化另类投资解决方案，覆盖私募股权、对冲基金、房地产、基础设施等多元资产类别。
APAM vs GCMG — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $177.1M |
| 净利润 | $118.1M | $58.2M |
| 毛利率 | — | — |
| 营业利润率 | 39.2% | 30.9% |
| 净利率 | 35.2% | 32.8% |
| 营收同比 | 12.9% | 7.2% |
| 净利润同比 | 34.9% | 149.2% |
| 每股收益（稀释后） | $1.36 | $0.23 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
| Q4 25 | $335.5M | $177.1M | ||
| Q3 25 | $301.3M | $135.0M | ||
| Q2 25 | $282.7M | $119.7M | ||
| Q1 25 | $277.1M | $125.8M | ||
| Q4 24 | $297.1M | $165.3M | ||
| Q3 24 | $279.6M | $122.9M | ||
| Q2 24 | $270.8M | $117.0M | ||
| Q1 24 | $264.4M | $108.9M |
| Q4 25 | $118.1M | $58.2M | ||
| Q3 25 | $66.8M | $10.5M | ||
| Q2 25 | $67.6M | $15.4M | ||
| Q1 25 | $61.1M | $463.0K | ||
| Q4 24 | $87.5M | $7.6M | ||
| Q3 24 | $73.0M | $4.2M | ||
| Q2 24 | $57.6M | $4.8M | ||
| Q1 24 | $59.5M | $2.1M |
| Q4 25 | 39.2% | 30.9% | ||
| Q3 25 | 33.8% | 32.7% | ||
| Q2 25 | 28.2% | 16.1% | ||
| Q1 25 | 31.2% | 12.2% | ||
| Q4 24 | 36.7% | 26.4% | ||
| Q3 24 | 33.3% | 20.3% | ||
| Q2 24 | 32.0% | 17.8% | ||
| Q1 24 | 29.4% | -14.7% |
| Q4 25 | 35.2% | 32.8% | ||
| Q3 25 | 22.2% | 7.8% | ||
| Q2 25 | 23.9% | 12.9% | ||
| Q1 25 | 22.1% | 0.4% | ||
| Q4 24 | 29.5% | 4.6% | ||
| Q3 24 | 26.1% | 3.4% | ||
| Q2 24 | 21.3% | 4.1% | ||
| Q1 24 | 22.5% | 2.0% |
| Q4 25 | $1.36 | $0.23 | ||
| Q3 25 | $0.93 | $0.16 | ||
| Q2 25 | $0.94 | $0.05 | ||
| Q1 25 | $0.82 | $-0.02 | ||
| Q4 24 | $0.99 | $0.09 | ||
| Q3 24 | $1.03 | $0.03 | ||
| Q2 24 | $0.80 | $0.04 | ||
| Q1 24 | $0.84 | $-0.13 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $242.1M |
| 总债务越低越好 | $190.0M | $428.4M |
| 股东权益账面价值 | $438.8M | $27.0M |
| 总资产 | $1.6B | $813.8M |
| 负债/权益比越低杠杆越低 | 0.43× | 15.87× |
8季度趋势，按日历期对齐
| Q4 25 | — | $242.1M | ||
| Q3 25 | — | $182.7M | ||
| Q2 25 | — | $136.3M | ||
| Q1 25 | — | $94.5M | ||
| Q4 24 | — | $89.5M | ||
| Q3 24 | — | $98.4M | ||
| Q2 24 | — | $73.9M | ||
| Q1 24 | — | $41.9M |
| Q4 25 | $190.0M | $428.4M | ||
| Q3 25 | $190.0M | $429.3M | ||
| Q2 25 | $200.0M | $430.2M | ||
| Q1 25 | $200.0M | $431.1M | ||
| Q4 24 | $200.0M | $432.0M | ||
| Q3 24 | $200.0M | $432.9M | ||
| Q2 24 | $200.0M | $433.8M | ||
| Q1 24 | $200.0M | $384.0M |
| Q4 25 | $438.8M | $27.0M | ||
| Q3 25 | $402.1M | $-7.4M | ||
| Q2 25 | $381.8M | $-12.3M | ||
| Q1 25 | $356.5M | $-28.3M | ||
| Q4 24 | $388.9M | $-27.6M | ||
| Q3 24 | $372.1M | $-31.9M | ||
| Q2 24 | $341.2M | $-28.5M | ||
| Q1 24 | $320.3M | $-26.4M |
| Q4 25 | $1.6B | $813.8M | ||
| Q3 25 | $1.6B | $685.9M | ||
| Q2 25 | $1.4B | $636.9M | ||
| Q1 25 | $1.4B | $579.8M | ||
| Q4 24 | $1.6B | $612.7M | ||
| Q3 24 | $1.6B | $575.0M | ||
| Q2 24 | $1.5B | $543.9M | ||
| Q1 24 | $1.5B | $497.3M |
| Q4 25 | 0.43× | 15.87× | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.62× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $172.0M | $183.5M |
| 自由现金流经营现金流 - 资本支出 | $171.6M | $175.0M |
| 自由现金流率自由现金流/营收 | 51.2% | 98.8% |
| 资本支出强度资本支出/营收 | 0.1% | 4.8% |
| 现金转化率经营现金流/净利润 | 1.46× | 3.16× |
| 过去12个月自由现金流最近4个季度 | $420.6M | $326.2M |
8季度趋势，按日历期对齐
| Q4 25 | $172.0M | $183.5M | ||
| Q3 25 | $40.4M | $79.8M | ||
| Q2 25 | $50.9M | $42.0M | ||
| Q1 25 | $157.9M | $33.3M | ||
| Q4 24 | $372.8M | $148.8M | ||
| Q3 24 | $112.8M | $69.0M | ||
| Q2 24 | $75.9M | $17.5M | ||
| Q1 24 | $147.0M | $24.2M |
| Q4 25 | $171.6M | $175.0M | ||
| Q3 25 | $40.4M | $78.3M | ||
| Q2 25 | $50.9M | $40.8M | ||
| Q1 25 | $157.7M | $32.1M | ||
| Q4 24 | $371.3M | $132.0M | ||
| Q3 24 | $112.4M | $62.2M | ||
| Q2 24 | $75.2M | $12.8M | ||
| Q1 24 | $146.9M | $20.0M |
| Q4 25 | 51.2% | 98.8% | ||
| Q3 25 | 13.4% | 58.0% | ||
| Q2 25 | 18.0% | 34.1% | ||
| Q1 25 | 56.9% | 25.5% | ||
| Q4 24 | 125.0% | 79.9% | ||
| Q3 24 | 40.2% | 50.6% | ||
| Q2 24 | 27.8% | 10.9% | ||
| Q1 24 | 55.6% | 18.4% |
| Q4 25 | 0.1% | 4.8% | ||
| Q3 25 | 0.0% | 1.1% | ||
| Q2 25 | 0.0% | 1.0% | ||
| Q1 25 | 0.1% | 0.9% | ||
| Q4 24 | 0.5% | 10.1% | ||
| Q3 24 | 0.1% | 5.5% | ||
| Q2 24 | 0.2% | 4.0% | ||
| Q1 24 | 0.0% | 3.9% |
| Q4 25 | 1.46× | 3.16× | ||
| Q3 25 | 0.60× | 7.61× | ||
| Q2 25 | 0.75× | 2.72× | ||
| Q1 25 | 2.58× | 71.84× | ||
| Q4 24 | 4.26× | 19.54× | ||
| Q3 24 | 1.54× | 16.60× | ||
| Q2 24 | 1.32× | 3.64× | ||
| Q1 24 | 2.47× | 11.40× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
APAM
暂无分部数据
GCMG
| Asset Management1 | $108.6M | 61% |
| Management Service Incentive Performance Fees | $61.7M | 35% |
| Management Service Incentive Carried Interest | $5.1M | 3% |
| Service Other | $1.8M | 1% |
