COMP <GO>

FSK vs APAM // EV/EBITDA & P/E VALUATION

FS KKR Capital Corp. (NYSE) VS. Artisan Partners Asset Management Inc. (Class A) (NYSE) • 15-METRIC TALLY: FSK 2 — APAM 4

■ METRIC PARITY

LAST: $11.17 (+4.30%) • MKT CAP: $3.09B

valuation

—

LAST: $36.39 (+4.78%) • MKT CAP: $2.95B

valuation

7.4x

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (FSK VS. APAM) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	FSK	APAM	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	0.20%	71.90%	-71.70	APAM	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	—	7.4x	—	TIE	/valuation <GO>
Free Cash Flow Yield	19.18%	5.82%	+13.36	FSK	/fcf-yield <GO>
Operating Margin	—	33.40%	—	TIE	/operating-margins <GO>
Net Profit Margin	—	24.30%	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	7.60%	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	8.71%	-8.71	APAM	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	4/9	6/9	-2.00	APAM	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	54.7	60.5	-5.76	APAM	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	9.5x	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$3.09B	$2.95B	$136.5M	FSK	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	FSK REV	APAM REV	FSK GROSS %	APAM GROSS %	FSK FCF	APAM FCF
FY 2025	$0	$1.20B	—	—	$592.0M	$171.6M
FY 2024	$0	$1.11B	—	—	$1.90B	$371.3M
FY 2023	$0	$975.1M	—	—	$1.38B	$253.0M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

FSK // BETA —

APAM // BETA —