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Apollo Global Management Inc.

APO Financial Asset Management

Apollo Global Management Inc.’s revenue for fiscal 2025 (year ended December 2025) was $32.0 billion, up 22.7% from fiscal 2024.

Revenue
−51.8%
EPS
−166.0%
Free cash flow
+128.3%
Total debt
+20.7%

Quarter to September 2026, against a year earlier

116.44 0.83 −0.71%
Market cap
$69.3B
P/E
0.0×
Fwd P/E
14.4×
Dividend yield
1.82%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Valuation Filings

Insider Decisions last twelve months

Sold, $m 8.96
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — — — — 2 — — 1 — — —
Insider Ownership 29.29%

Capital & Financial Ratios $m

Size
Market Cap 69,250.00
Revenue ttm 30,815.00
Net income ttm 4,299.00
Free cash flow ttm 9,473.00
Net debt Q (7,349.00)
Valuation
P/E 0.00
Forward P/E 14.40
Price / sales 2.30
Forward P/S Powerpack
Price / FCF 7.54
Price / book 1.96
Financial health
Current ratio Q 1.41
Debt / equity Q 0.42
Interest coverage Q (16.50)
Growth
Revenue growth Q −51.76% (below 0%: shrinking)
Operating income growth Q −153.40% (below 0%: shrinking)
EPS, this year +2.30%
EPS, next year A +23.59% (at or above 15%: strong)
Revenue, next year A −83.16% (below 0%: weak)
EPS, past 5 yrs +65.96% (at or above 15%: strong)
EPS, next 5 yrs A +13.25%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/S against its own 10 years 28.02%
10-year low 10-year high
P/B against its own 10 years 17.42%
10-year low 10-year high

Dividends raised 3 years running

Yield
1.82%
Annual rate
2.15
Payout ratio
78.6%
Growth, 2017–25
+0.93%/yr
  1. 1.85 ’17
  2. 1.93 ’18 +4
  3. 2.02 ’19 +5
  4. 2.31 ’20 +14
  5. 2.10 ’21 −9
  6. 1.60 ’22 −24
  7. 1.69 ’23 +6
  8. 1.82 ’24 +8
  9. 1.99 ’25 +10
  10. 2.24 ’26e +12
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 17,629 16,954 20,264 22,598
Receivables 449 584 647 968
Inventory — — — —
Other — — — —
18,078 17,538 20,911 23,566
2023 2024 2025 Q'26
Payables 3,338 3,616 3,861 4,420
ST’ Debt — — — —
Other — — — —
11,744 15,978 16,008 16,714

Compound Annual Growth %

10y 5y 3y
Sales 40.87% 68.58% 42.96%
Cash Flow 28.67% 0.00% 24.12%
Earnings 38.11% 95.13% 0.00%
Book Value 40.79% 50.46% 43.57%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 2.21 Actual 2.15

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 2.03 2.47 Beat by 0.44
Q1 FY26 1.98 1.94 Miss by 0.04
Q2 FY26 2.18 2.11 Miss by 0.07
Q3 FY26 2.21 2.15 Miss by 0.06
Q4 FY26 2.42 — Reports 8 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (3.27) 2.15 (1.86) — —
’25 0.68 0.99 2.78 1.07 5.54
’24 2.28 1.35 1.29 2.39 7.33
’23 1.66 1.00 1.10 4.65 8.49
’22 (1.50) (3.53) (1.52) 0.97 (3.43)
’21 2.81 2.70 1.01 0.91 7.32
’20 (4.47) 1.84 1.11 1.80 0.44
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 5,059 11,153 4,739 — —
’25 5,548 6,814 9,823 9,864 32,049
’24 7,040 6,018 7,773 5,283 26,114
’23 5,301 13,702 2,595 11,046 32,644
’22 862 2,286 2,979 4,841 10,968
’21 2,295 1,383 1,078 1,195 5,951
’20 (1,469) 1,508 1,018 1,296 2,354
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,620 2,881 — — —
’25 1,012 1,262 303 4,669 7,246
’24 70 1,333 1,854 (4) 3,253
’23 1,071 3,551 (364) 2,064 6,322
’22 (3,993) 3,973 2,344 1,465 3,789
’21 (229) 1,322 1,044 (1,073) 1,064
’20 868 70 577 (3,131) (1,616)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1,620 2,881 — — —
’25 1,012 1,262 303 4,669 7,246
’24 70 1,333 1,854 (4) 3,253
’23 1,071 3,551 (364) 2,064 6,322
’22 (3,993) 3,973 2,344 1,465 3,789
’21 (229) 1,322 1,044 (1,073) 1,064
’20 849 50 567 (3,131) (1,616)
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 39.0% a year for ten years. It grew −8.9% a year over the last ten.

Implied
39.0%
10 years, reported
−8.9%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 2,074 2,772 1,093 2,932 2,354 5,951 10,968 32,644 26,114 32,049 30,815 +35.6% 5,396 6,306 7,186 (39.2%)
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 1,061 1,770 105 1,408 553 4,861 (4,246) 5,586 7,435 6,677 3,054 +22.7%
EBT margin, % 51.17 63.84 9.63 48.02 23.49 81.68 (38.71) 17.11 28.47 20.83 9.91 (30.3) pt
Net income 970 1,444 19 1,537 467 4,267 (3,507) 6,509 6,373 5,401 4,299 +21.0%
Per share, $
Per share, $ Revenue 11.27 14.52 5.47 14.16 10.35 25.15 18.76 56.15 44.56 54.37 51.10 +19.1%
Earnings 2.11 3.12 (0.30) 3.72 0.44 7.32 (3.43) 8.53 8.32 5.58 (1.88) +11.4%
Cash flow 3.26 4.50 4.07 5.23 (7.10) 4.50 6.48 10.87 5.55 12.29 0.00 +15.9%
Capex (0.03) (0.04) (0.07) (0.19) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 n/m
Free cash flow 3.23 4.46 4.00 5.04 (7.10) 4.50 6.48 10.87 5.55 12.29 0.00 +16.0%
Book value 10.15 15.18 12.26 14.67 24.23 43.09 24.57 43.40 52.83 72.12 59.94 +24.3%
Shares, m 184 191 200 207 228 237 585 581 586 590 595 +13.8%
Valuation, ×
Valuation, × P/E 9.42 10.80 0.00 12.66 174.93 9.75 0.00 10.72 22.35 25.99 0.00 27.7
P/S 1.75 2.31 4.49 3.37 4.73 2.88 3.35 1.63 3.71 2.66 2.30 3.1
P/B 1.94 2.44 2.59 3.98 2.25 1.78 2.56 2.23 3.27 2.08 1.96 2.5
EV/Sales 2.00 2.40 4.81 3.55 5.06 3.13 2.93 1.33 3.46 2.45 — 3.1
EV/FCF 7.00 7.82 6.58 9.97 (7.07) 18.74 8.65 6.97 28.40 10.93 — 9.8
Cash, $m
Cash, $m Operating cash flow 600 860 814 1,083 (1,616) 1,064 3,789 6,322 3,253 7,246 9,473 +31.9%
Capex (6) (9) (15) (39) — — — — — — (69) +83.8%
Free cash flow 593 851 800 1,043 (1,616) 1,064 3,789 6,322 3,253 7,246 9,473 +32.1%
Balance, $m
Balance, $m Working capital 857 (14) 258 1,044 1,174 (1,954) 803 6,334 1,560 4,903 6,852 +21.4%
Net debt 534 243 354 520 765 1,509 (4,546) (9,537) (6,366) (6,900) (7,349) n/m
Shareholders’ equity 1,868 2,898 2,452 3,038 5,513 10,194 14,366 25,233 30,964 42,515 36,146 +41.5%
Returns, %
Returns, % ROA 7.91 9.75 (0.65) 11.10 0.75 6.65 (1.36) 1.75 1.30 0.81 (0.21) (7.1) pt
ROIC 23.62 28.10 4.23 21.79 7.72 9.82 (31.46) 21.16 18.12 11.86 6.57 (11.8) pt
ROE 24.74 27.35 (1.86) 36.82 3.22 24.69 (16.34) 26.18 16.78 9.61 (2.66) (15.1) pt
People
People Employees 986 1,047 1,143 1,421 1,729 2,153 2,540 4,879 5,108 6,140 — +22.5%
Revenue/emp, $m 2.10 2.65 0.96 2.06 1.36 2.76 4.32 6.69 5.11 5.22 — +10.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Apollo Global Management is an alternative asset manager and retirement services provider. It raises money from investors and manages it across credit and equity strategies, and it provides retirement savings products through Athene. Apollo was founded in 1990, its headquarters are at Solow Building, and Marc Rowan is its chief executive.

In asset management, Apollo invests through funds, managed accounts and other vehicles for institutions and individuals. Its credit business includes direct lending to companies and financing backed by assets such as mortgages, consumer credit and aircraft loans. Its equity business includes private equity, real estate and infrastructure investments. Apollo also helps businesses arrange financing and connects investment opportunities with capital from its clients.

Apollo Global Management Inc. vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BX Blackstone Inc. $149.0B 26.8× 19.9× −0.83% (below 0%: shrinking) +3.75% (above 0%: growing) +125.08% (above 0%: growing) 100.00% 51.28% Compare
KKR KKR & Co. Inc. $88.2B 29.3× 13.9× +12.52% (above 0%: growing) +39.62% (above 0%: growing) +762.68% (above 0%: growing) 37.79% 6.89% Compare
BAM Brookfield Asset Management Ltd. $85.9B 30.3× 22.8× +60.83% (above 0%: growing) +47.37% (above 0%: growing) +3.02% (above 0%: growing) 100.00% 65.83% Compare
APO Apollo Global Management Inc. $69.3B — (loss-making) 14.4× −51.76% (below 0%: shrinking) n/m +128.29% (above 0%: growing) 100.00% (29.25%)
STT State Street Corporation $45.0B 13.3× 12.6× +5.36% (above 0%: growing) +32.86% (above 0%: growing) −75.12% (below 0%: shrinking) 66.12% 0.00% Compare
AMP Ameriprise Financial, Inc. $44.2B 11.3× 10.8× +6.80% (above 0%: growing) +31.68% (above 0%: growing) −33.84% (below 0%: shrinking) 100.00% 35.49% Compare
ARES Ares Management Corporation $44.2B 69.2× 22.4× −13.53% (below 0%: shrinking) −21.50% (below 0%: shrinking) −197.89% (below 0%: shrinking) 100.00% 19.87% Compare
RJF Raymond James Financial, Inc. $31.7B 13.6× 13.5× +13.10% (above 0%: growing) +14.42% (above 0%: growing) −148.58% (below 0%: shrinking) 100.00% 27.94% Compare
NTRS Northern Trust Corporation $31.0B 13.4× 12.6× +3.27% (above 0%: growing) +48.70% (above 0%: growing) +366.41% (above 0%: growing) 62.08% 0.00% Compare
Median of peers $44.6B 20.2× 13.7× +6.08% +32.27% −15.41% 100.00% 23.90%

All 121 Asset Management stocks →

From the latest earnings call

Updated

  • Marc Rowan said Apollo is moving toward investment-grade and secured credit as it responds to high valuations and elevated risk.
  • Rowan said Apollo plans to invest in data and systems to make private assets easier to price and trade, while developing new services.

Largest institutional holders 13F, quarter to 30 June 2026

Holder Shares Stake Change
Vanguard 47.36m — −537.63k
Capital Group 45.86m — −9.38m
BlackRock 33.22m — −1.32m
Fidelity (FMR) 24.22m — +2.24m
State Street 19.88m — +260.46k
Franklin Templeton 15.61m — +555.45k
UBS 11.63m — −232.00k
Geode Capital Management 10.40m — −102.16k
National Philanthropic Trust 9.14m — +133.27k
Morgan Stanley 8.94m — +107.82k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Apollo Global Management Inc. (APO) Latest News

5 Nov

Impact 3 · · Stocktwits

4 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool

3 Nov

Impact 4 · · The Motley Fool transcript
Impact 3 · · Moby
Impact 3 · · MarketBeat transcript
Impact 3 · · Bloomberg
Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · GlobeNewswire

2 Nov

Impact 3 · · Bloomberg
Impact 3 · · GlobeNewswire

29 Oct

Impact 4 · · TIKR
Impact 4 · · Simply Wall St.
Impact 3 · · Stocktwits
Impact 3 · · 24/7 Wall St.
Impact 3 · · Zacks

28 Oct

Impact 4 · · Zacks
Impact 4 · · Business Wire

27 Oct

Impact 4 · · verdict.co.uk
Impact 4 · · Simply Wall St.
Impact 3 · · Zacks

26 Oct

Impact 4 · · Benzinga
Impact 4 ·
Impact 4 · · decrypt.co
Impact 4 · · MT Newswires
Impact 4 · · TechCrunch
Impact 4 · · Benzinga
Impact 3 · · Bloomberg
Impact 3 · · Bloomberg

APO metrics, ten years each

stockrow.com/APO · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com