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Held by 358 of 5,944 reporting institutions (95th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $36.53 today, the market must believe free cash flow compounds 0.5%/yr for a decade (off $265M normalized FCF).
The market's 0.5% is more optimistic than its 9-yr track record.
2-stage DCF · 0.08B shares · net debt $190M
mean 0.8% · volatility σ 34% · implied rate exceeded in 4/9 yrs
Central path = implied 0.5%/yr growth; shaded band = ±1σ (34%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 838 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| JPM | $941.8B | 17.4× | — | 5.2× | 2.8% | — | 31.3% | 15.7% | 13.4% | — | 4,823 |
| V | $694.5B | — | — | 17.4× | 11.3% | — | 50.1% | 52.9% | 31.8% | — | 4,229 |
| MA | $512.0B | 34.3× | — | 15.6× | 16.4% | — | 45.6% | 193% | 56.0% | — | 3,430 |
| BAC | $419.6B | 15.3× | — | 3.7× | 6.8% | — | 27.0% | 10.1% | 4.9% | — | 3,337 |
| GS | $282.1B | 18.5× | — | — | — | — | — | 13.7% | 3.6% | — | 2,857 |
| WFC | $268.7B | 13.9× | — | — | — | — | — | 11.8% | 5.7% | — | 2,691 |
| AXP | $213.5B | 20.2× | — | 5.2× | 6.4% | — | 26.2% | 32.4% | 11.9% | — | 2,787 |
| TYFG | $191.9B | 14.2× | — | 11135.5× | 10.2% | — | 79.3% | 8.7% | 8.7% | — | 1 |
| SCHW | $188.8B | 22.5× | — | 7.9× | 22.0% | — | 37.0% | 17.9% | 17.9% | — | 2,225 |
| HDB | $173.4B | 21.8× | — | 6.8× | 15.2% | — | 30.8% | 8.8% | 4.5% | — | 570 |
| UBS | $169.2B | — | — | — | — | — | — | — | — | — | 660 |
| BLK | $163.4B | 29.9× | — | 6.8× | 89.3% | — | 22.9% | 9.9% | 8.1% | — | 2,196 |
| GLD | $134.4B | — | — | — | — | — | — | — | — | — | 3,072 |
| CB | $133.7B | 13.3× | — | 2.3× | 6.5% | — | 17.4% | 14.0% | 11.3% | — | 2,002 |
| PGR | $126.8B | 11.3× | — | 1.4× | 16.3% | — | 12.9% | 37.3% | 37.3% | — | 1,685 |
| SPGI | $120.7B | 27.6× | 17.3× | 7.9× | 7.9% | 70.2% | 29.2% | 14.4% | 10.1% | 1.7× | 2,005 |
| HOOD | $97.6B | 53.6× | — | 21.8× | 51.6% | — | 42.1% | 20.6% | 20.6% | — | 1,230 |
| CME | $97.5B | 24.3× | — | 15.0× | 6.4% | — | 62.5% | 14.2% | 14.2% | — | 1,699 |
| USB | $96.4B | 13.0× | — | 3.4× | 4.4% | — | 26.4% | 11.6% | 9.2% | — | 1,901 |
| BX | $93.9B | 32.4× | — | 6.5× | 9.2% | — | 20.9% | 34.8% | 14.2% | — | 2,037 |
| PNC | $91.9B | 14.0× | — | 4.0× | 7.2% | — | 30.3% | 11.5% | 5.9% | — | 1,839 |
| AMUB | $89.8B | — | — | — | — | — | — | — | — | — | 7 |
| KKR | $87.5B | — | — | 4.5× | -11.0% | — | 12.2% | 7.7% | 7.7% | — | 1,216 |
| ICE | $86.9B | 26.6× | 20.6× | 6.9× | 7.5% | — | 26.2% | 11.5% | 6.8% | 3.8× | 1,641 |
| MRSH | $84.7B | 20.7× | 15.4× | 3.1× | 10.3% | — | 15.4% | 27.2% | 11.9% | 3.0× | 1,471 |
| APAM | $2.9B | 9.0× | 7.7× | 2.5× | 7.6% | — | 24.3% | 66.2% | 46.2% | 0.5× | 358 |
Peers = companies sharing APAM's sector (Financial Services) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
6/7 of the 9 checks — 2 couldn't be scored (see above), so the score is out of the 7 with data.
Insufficient balance-sheet detail (needs retained earnings, working capital, equity).
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend exceeds free cash flow (150%) — funded from the balance sheet or debt, a red flag if it persists. Last year: $257M dividends + $0 buybacks = $257M returned on $172M FCF.
2 consecutive years of dividend increases · 8%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 46%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
$0 of principal comes due within a year. Scheduled principal only (excludes interest & revolver draws). As of 2022-09-30 (10-Q).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~4.5% on $190M of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
No material risks flagged.
Where each multiple sits in its own 13-yr range · 50th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 13-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| SG&A | 3.2 | 2.9 | 2.7 | 2.6 | 2.5 | 2.4 | 2.3 | 2.4 |
| Operating Income | 36.8 | 35.5 | 39.8 | 44.0 | 34.6 | 31.1 | 33.0 | 33.4 |
| Income Tax | 5.7 | 3.5 | 6.8 | 8.7 | 6.4 | 7.4 | 8.2 | 9.3 |
| Net Income | 19.1 | 19.6 | 23.6 | 27.4 | 20.8 | 22.8 | 23.4 | 24.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on APAM: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.20B 100.0% | $1.11B 100.0% | $975.1M 100.0% | $993.3M 100.0% | $1.23B 100.0% | $899.6M 100.0% | $799.0M 100.0% | $828.6M 100.0% | $795.6M 100.0% | $720.9M 100.0% |
| Selling, General & Admin | $28.1M 2.4% | $25.8M 2.3% | $23.6M 2.4% | $24.6M 2.5% | $31.7M 2.6% | $24.3M 2.7% | $23.2M 2.9% | $26.6M 3.2% | $29.6M 3.7% | — |
| Total Operating Expenses | $797.1M 66.6% | $745.2M 67.0% | $671.5M 68.9% | $649.2M 65.4% | $686.7M 56.0% | $541.2M 60.2% | $515.5M 64.5% | $523.7M 63.2% | $509.2M 64.0% | $486.6M 67.5% |
| Operating Income | $399.6M 33.4% | $366.6M 33.0% | $303.6M 31.1% | $344.1M 34.6% | $540.5M 44.0% | $358.3M 39.8% | $283.5M 35.5% | $304.9M 36.8% | $286.4M 36.0% | $234.2M 32.5% |
| Interest Expense | $8.6M 0.7% | $8.6M 0.8% | $8.6M 0.9% | $9.9M 1.0% | $10.8M 0.9% | $10.8M 1.2% | $11.1M 1.4% | $11.2M 1.4% | $11.4M 1.4% | $11.7M 1.6% |
| Interest & Investment Income | $9.4M 0.8% | $9.6M 0.9% | $6.3M 0.6% | $333K 0.0% | $559K 0.0% | — | — | — | — | — |
| Other Income (Expense), net | $89.5M 7.5% | $73.9M 6.6% | $80.1M 8.2% | -$32.3M -3.2% | $11.1M 0.9% | $11.0M 1.2% | -$14.2M -1.8% | -$3.2M -0.4% | $284.8M 35.8% | -$9.8M -1.4% |
| Pretax Income | $489.1M 40.9% | $440.6M 39.6% | $383.7M 39.3% | $311.8M 31.4% | $551.5M 44.9% | $369.3M 41.1% | $269.3M 33.7% | $301.8M 36.4% | $571.2M 71.8% | $224.5M 31.1% |
| Income Tax Expense | $111.3M 9.3% | $90.9M 8.2% | $71.9M 7.4% | $63.5M 6.4% | $107.0M 8.7% | $60.8M 6.8% | $27.8M 3.5% | $47.6M 5.7% | $420.5M 52.9% | $51.5M 7.1% |
| Net Income | $290.3M 24.3% | $259.7M 23.4% | $222.3M 22.8% | $206.8M 20.8% | $336.5M 27.4% | $212.6M 23.6% | $156.5M 19.6% | $158.3M 19.1% | $49.6M 6.2% | $73.0M 10.1% |
| Per Share | ||||||||||
| EPS (Basic) | $4.05 | $3.66 | $3.19 | $2.94 | $5.10 | $3.40 | $2.65 | $2.84 | — | — |
| EPS (Diluted) | $4.05 | $3.66 | $3.19 | $2.94 | $5.09 | $3.40 | $2.65 | $2.84 | — | — |
| Weighted Avg Shares (Basic) | 65.6M | 64.9M | 63.5M | 62.5M | 59.9M | 55.6M | 51.1M | 48.9M | — | — |
| Weighted Avg Shares (Diluted) | 65.6M | 64.9M | 63.5M | 62.5M | 59.9M | 55.6M | 51.1M | 48.9M | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position