Saturday 17 October 2026 Export ARI’s income statement to Excel — free account

Apollo Commercial Real Estate Finance

Apollo Commercial Real Estate Finance’s revenue for fiscal 2025 (year ended December 2025) was $271.6 million, down 10.6% from fiscal 2024. In the quarter to June 2026, revenue fell 37.4%, EPS fell 8.33%, free cash flow fell 20.1% and total debt fell 2.04%, each against the same quarter a year earlier.

6.38 0.03 −0.47%

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Market cap: $824.0M
P/E: 8.0×
Fwd P/E: 31.6×
Dividend yield: 66.6%
F-score: 7/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.59

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	1	—	—	—	—	1	—	—	1	—	—

Insider Ownership 2.91%

Capital & Financial Ratios $m

Market Cap 823.96

Revenue 237.89

Net Income 132.00

Free Cash Flow 21.41

Net Debt (1,239.48)

Current Ratio 2.45

Debt/Equity 0.00

P/E ratio 7.98

Fwd P/E 31.60

P/S ratio 3.51

P/B ratio 0.67

Past 5Y EPS Growth 140.82%

This Y EPS Growth (323.81%)

Next Y EPS Growth 107.23%

Next Y revenue growth (84.54%)

Next 5Y EPS Growth 43.50%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 9.33%

10-year low 10-year high

P/S against its own 10 years 1.44%

10-year low 10-year high

P/B against its own 10 years 17.58%

10-year low 10-year high

EV/Sales against its own 10 years 0.59%

10-year low 10-year high

EV/FCF against its own 10 years 88.50%

10-year low 10-year high

Dividends

Payout Ratio 5.31

Annual Dividend Rate 4.25

Annual Dividend Yield 66.61%

	total	individual payouts
2027	Powerpack
2026	4.00	0.25 3.75 3.50
2025	1.00	0.25 0.25 0.25 0.25
2024	1.20	0.35 0.35 0.25 0.25
2023	1.40	0.35 0.35 0.35 0.35
2022	1.40	0.35 0.35 0.35 0.35
2021	1.40	0.35 0.35 0.35 0.35
2020	1.45	0.40 0.35 0.35 0.35
2019	1.84	0.46 0.46 0.46 0.46
2018	1.84	0.46 0.46 0.46 0.46
2017	1.84	0.46 0.46 0.46 0.46
2016	1.84	0.46 0.46 0.46 0.46

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	225	317	140	1,239
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	8,151	7,074	8,852	1,239

	2023	2024	2025	Q'26
Payables	120	138	91	507
ST’ Debt	—	—	—	—
Other	—	—	—	—
	120	138	91	507

Compound Annual Growth %

	10y	5y	3y
Sales	6.60%	(0.51%)	(3.65%)
Cash Flow	4.93%	(2.77%)	(18.95%)
Earnings	2.28%	88.28%	(23.23%)
Book Value	3.04%	(3.95%)	(7.62%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	59	44	—	—	—
’25	66	71	62	73	272
’24	81	81	72	70	304
’23	87	92	81	84	345
’22	64	76	76	87	304
’21	71	76	67	71	285
’20	75	71	69	65	279

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	13	34	—	—	—
’25	39	63	32	8	143
’24	53	50	47	50	200
’23	110	49	83	31	274
’22	50	50	126	43	268
’21	44	77	44	35	199
’20	54	(1)	60	51	164

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	0	25	—	—	—
’25	14	31	7	(10)	42
’24	15	10	2	96	123
’23	96	34	66	5	201
’22	50	50	105	31	235
’21	44	119	44	34	242
’20	54	(1)	60	51	164

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.17	0.11	—	—	—
’25	0.16	0.12	0.34	0.18	0.81
’24	(0.76)	0.23	(0.69)	0.27	(0.97)
’23	0.32	(0.62)	0.30	0.30	0.29
’22	0.08	0.44	1.13	(0.06)	1.68
’21	0.37	0.42	0.38	0.23	1.46
’20	(0.86)	0.36	0.31	0.23	0.01

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	13.80	16.62	16.41	16.43	4.12	10.69	7.91	8.58	8.52	7.70	Analyst estimates 2026–2028 Powerpack
	High	18.10	19.92	19.57	19.76	18.76	16.94	14.55	12.75	12.00	11.11
People
People	Employees	—	—	—	—	—	—	—	—	—	—
	Revenue/emp, $m	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income, $m
Income, $m	Revenue	201	260	289	334	279	285	304	345	304	272
	Gross margin, %	88.34	87.85	87.41	87.82	85.74	86.59	87.35	88.98	88.11	87.42
	EBT	158	193	220	230	18	224	265	59	(119)	127
	EBT margin, %	78.70	74.11	76.04	68.82	6.59	78.56	87.35	17.00	(39.27)	46.78
	Net income	158	193	220	230	18	224	265	58	(120)	127
	Depreciation	(6)	(41)	(53)	(70)	(49)	(53)	(38)	(7)	(1)	(5)
Per share, $
Per share, $	Revenue	2.77	2.61	2.33	2.28	1.88	2.03	2.16	2.44	2.17	1.96
	Earnings	1.74	1.54	1.52	1.41	0.01	1.48	1.77	0.29	(0.97)	0.81
	Cash flow	1.71	1.55	2.14	1.86	1.11	1.43	1.90	1.94	1.43	1.03
	Capex	20.84	0.00	0.00	0.00	0.00	0.30	(0.24)	(0.51)	(0.56)	(0.72)
	Free cash flow	22.55	1.55	2.14	1.86	1.11	1.73	1.67	1.42	0.88	0.30
	Book value	26.70	20.91	20.22	17.91	15.34	16.41	16.75	15.63	13.42	13.37
	Shares, m	72	100	124	147	148	140	141	141	140	139
Valuation, ×
Valuation, ×	P/E	10.13	11.82	10.89	12.79	223.40	8.95	6.15	38.80	0.00	12.10
	P/S	6.10	7.02	7.15	8.03	5.93	6.47	5.04	4.77	3.98	4.95
	P/B	0.63	0.88	0.82	1.02	0.73	0.80	0.65	0.74	0.65	0.72
	EV/Sales	3.65	8.97	8.82	9.82	8.53	11.70	9.21	7.76	7.06	32.03
	EV/FCF	5.92	15.09	9.59	12.01	14.49	12.08	11.91	13.29	17.47	205.57
Cash, $m
Cash, $m	Operating cash flow	124	155	266	273	164	199	268	274	200	143
	Capex	1,508	(1)	—	—	—	42	(33)	(73)	(78)	(100)
	Free cash flow	1,632	155	266	273	164	242	235	201	123	42
Balance, $m
Balance, $m	Working capital	2,314	2,661	3,884	5,679	5,702	7,253	8,116	8,030	6,936	8,760
	Total debt	250	585	592	1,050	1,049	1,832	1,488	1,255	1,251	1,225
	Net debt	(491)	507	482	597	724	1,489	1,266	1,029	933	1,085
	Shareholders’ equity	1,932	2,088	2,510	2,630	2,271	2,295	2,355	2,209	1,874	1,856
Returns, %
Returns, %	ROA	4.12	4.13	4.20	3.53	0.07	2.74	2.81	0.49	(1.49)	1.25
	ROIC	6.60	5.01	4.85	5.22	4.43	3.22	3.15	3.78	3.22	2.41
	ROE	7.71	7.77	8.38	8.24	0.20	9.22	10.88	2.01	(6.46)	6.14

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
LADR Ladder Capital Corp	$1.1B	21.7×	19.0×	+4.91% (above 0%: growing)	−14.29% (below 0%: shrinking)	−9.50% (below 0%: shrinking)	100.00%	60.88%	Compare
ORC Orchid Island Capital, Inc.	$1.0B	3.4×	8.9×	+77.91% (above 0%: growing)	n/m	+342.48% (above 0%: growing)	100.00%	117.80%	Compare
ARI Apollo Commercial Real Estate Finance	$824.0M	8.0×	31.6×	−37.40% (below 0%: shrinking)	−8.33% (below 0%: shrinking)	−20.13% (below 0%: shrinking)	91.99%	16.46%
CIM Chimera Investment Corporation	$715.7M	— (loss-making)	16.4×	+10.10% (above 0%: growing)	n/m	−4,466.16% (below 0%: shrinking)	100.00%	1.81%	Compare
ADAM Adamas Trust, Inc.	$700.2M	4.5×	9.5×	+23.77% (above 0%: growing)	n/m	+171.68% (above 0%: growing)	26.87%	30.52%	Compare
MFA MFA Financial, Inc.	$677.3M	6.5×	10.1×	+4.48% (above 0%: growing)	+59.09% (above 0%: growing)	+162.56% (above 0%: growing)	100.00%	78.90%	Compare
PMT PennyMac Mortgage Investment Trust	$615.7M	4.9×	8.4×	+3.60% (above 0%: growing)	n/m	−45.97% (below 0%: shrinking)	63.63%	34.80%	Compare
IVR INVESCO MORTGAGE CAPITAL INC	$607.1M	3.7×	10.2×	+20.93% (above 0%: growing)	n/m	+3.93% (above 0%: growing)	35.24%	28.86%	Compare
ABR Arbor Realty Trust	$522.4M	38.6×	22.1×	−2.77% (below 0%: shrinking)	n/m	+172.80% (above 0%: growing)	19.79%	(4.57%)	Compare
Median of peers	$688.7M	4.9×	10.1×	+7.51%	—	+83.24%	81.81%	32.66%

All 37 Reit Mortgage stocks →

Apollo Commercial Real Estate Finance (ARI) key facts

Concern: Apollo Commercial Real Estate Finance’s revenue for fiscal 2025 (year ended December 2025) was $271.6 million, down 10.6% from fiscal 2024.
Apollo Commercial Real Estate Finance (ARI) is a Reit Mortgage company in the Real Estate sector, listed on the New York Stock Exchange.
As of October 16, 2026, ARI traded at $6.38, a market capitalization of $824.0 million.
Apollo Commercial Real Estate Finance pays an annual dividend of $4.25 per share, a yield of 66.6%.
Return on equity was 6.14% and debt-to-equity 0.00.
Its Piotroski F-score is 7 out of 9 for fiscal 2025.