NYSE : APO
Apollo Global Management, Inc. — Financial statements
Financials · Asset Management · United States
Last price 118.56 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 70.01B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Apollo Global Management, Inc. (APO) reported revenue of 35.60B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 24.10B | 22.86B | 18.84B | 14.55B | 9.38B | 3.70B |
| Total Interest Expense | 301.00M | 256.00M | 226.00M | 145.00M | 124.00M | 138.00M |
| Net Interest Income | 23.80B | 22.60B | 18.62B | 14.41B | 9.26B | 3.56B |
| Asset Management Fee | 4.26B | 3.61B | 2.72B | 2.40B | 1.95B | 2.22B |
| Gain on Sale of Investments (Rev) | 3.29B | 1.54B | 2.04B | 1.43B | -12.72B | |
| Other Revenue | 4.25B | 4.04B | 2.50B | 13.71B | 12.36B | 29.00M |
| Revenue | 35.60B | 31.79B | 25.89B | 31.94B | 10.84B | 5.81B |
| Salaries & Employee Benefits | 3.28B | 2.99B | 2.61B | 2.72B | 1.94B | 2.54B |
| Cost of Services Provided | 23.15B | 20.23B | 15.07B | 23.24B | 14.92B | 482.00M |
| Total Operating Expenses | 27.80B | 24.46B | 18.62B | 26.65B | 17.31B | 3.03B |
| Operating Income | 7.80B | 7.33B | 7.27B | 5.29B | -6.47B | 2.79B |
| Other Non-Operating Income (Expenses) | 205.00M | 168.00M | 245.00M | 266.00M | 532.00M | 412.00M |
| EBT Excluding Unusual Items | 8.00B | 7.50B | 7.51B | 5.56B | -5.93B | 3.20B |
| Merger & Restructuring Charges | -133.00M | -121.00M | -239.00M | -130.00M | -133.00M | |
| Gain (Loss) on Sale of Investments | -449.00M | -703.00M | 160.00M | -397.00M | 1.82B | 2.61B |
| Other Unusual Items | 555.00M | -949.00M | ||||
| Pretax Income | 7.42B | 6.68B | 7.43B | 5.59B | -4.25B | 4.86B |
| Income Tax Expense | 3.12B | 1.28B | 1.06B | -923.00M | -739.00M | 594.00M |
| Earnings From Continuing Ops. | 4.30B | 5.40B | 6.37B | 6.51B | -3.51B | 4.27B |
| Minority Interest in Earnings | -2.42B | -1.91B | -1.80B | -1.46B | 1.55B | -2.43B |
| Net Income | 1.88B | 3.49B | 4.58B | 5.05B | -1.96B | 1.84B |
| Preferred Dividends & Other Adjustments | -13.00M | -11.00M | -54.00M | -120.00M | 46.00M | 109.00M |
| Net Income to Common | 1.89B | 3.50B | 4.63B | 5.17B | -2.01B | 1.73B |
| Shares Outstanding (Basic) | 592.62M | 589.45M | 586.07M | 581.38M | 584.69M | 236.57M |
| Shares Outstanding (Diluted) | 594.47M | 593.66M | 604.04M | 588.85M | 584.69M | 236.57M |
| EPS (Basic) | 3.19 | 5.94 | 7.90 | 8.89 | -3.43 | 7.31 |
| EPS (Diluted) | 2.81 | 5.54 | 7.33 | 8.28 | -3.43 | 7.31 |
| Free Cash Flow | 9.47B | 7.25B | 3.25B | 6.32B | 3.79B | 1.06B |
| Free Cash Flow Per Share | 15.94 | 12.21 | 5.38 | 10.74 | 6.48 | 4.50 |
| Dividend Per Share | 2.15 | 2.04 | 1.84 | 1.72 | 1.60 | 1.90 |
| Operating Margin | 21.90% | 23.06% | 28.08% | 16.57% | -59.64% | 47.94% |
| Profit Margin | 5.30% | 11.02% | 17.89% | 16.18% | -18.51% | 29.76% |
| Free Cash Flow Margin | 26.61% | 22.79% | 12.57% | 19.79% | 34.94% | 18.30% |
| Effective Tax Rate | 42.05% | 19.11% | 14.28% | 12.22% | ||
| Revenue as Reported | 35.90B | 32.05B | 26.11B | 32.64B | 10.97B | 5.95B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 26.82B | 19.24B | 16.17B | 15.93B | 9.45B | 1.38B |
| Trading Asset Securities | 20.80B | 19.18B | 12.68B | 10.00B | 6.86B | 8.00M |
| Other Receivables | 11.89B | 10.95B | 8.78B | 4.60B | 4.82B | 490.00M |
| Goodwill | 5.91B | 5.92B | 4.33B | 4.33B | 4.32B | 117.00M |
| Investments in Debt & Equity Securities | 397.18B | 375.34B | 309.79B | 255.26B | 212.27B | 24.75B |
| Restricted Cash | 1.60B | 1.35B | 946.00M | 1.76B | 1.68B | 708.00M |
| Other Long-Term Assets | 20.57B | 20.34B | 18.04B | 15.62B | 13.34B | 3.05B |
| Total Assets | 494.05B | 460.95B | 377.89B | 313.49B | 257.22B | 30.50B |
| Accounts Payable | 5.69B | 1.38B | 1.89B | 1.63B | 1.53B | 1.40B |
| Accrued Expenses | 2.04B | 1.89B | 1.67B | 1.39B | 1.45B | |
| Short-Term Debt | 22.76B | 20.50B | 14.80B | 11.10B | 8.80B | 2.00M |
| Current Portion of Long-Term Debt | 1.27B | 3.30B | 4.15B | 1.20B | 1.88B | |
| Current Portion of Leases | 47.00M | 91.00M | ||||
| Other Current Liabilities | 1.60B | 3.26B | ||||
| Long-Term Debt | 16.95B | 17.55B | 13.36B | 11.82B | 9.39B | 13.69B |
| Long-Term Leases | 860.00M | 850.00M | ||||
| Other Long-Term Liabilities | 403.39B | 369.46B | 310.83B | 260.83B | 218.84B | 2.00B |
| Total Liabilities | 452.57B | 418.43B | 346.92B | 288.24B | 241.82B | 18.54B |
| Additional Paid-In Capital | 16.67B | 16.95B | 15.33B | 15.25B | 14.98B | 2.10B |
| Retained Earnings | 6.15B | 7.63B | 6.02B | 2.97B | -1.01B | 1.14B |
| Comprehensive Income & Other | -3.21B | -2.65B | -5.49B | -5.58B | -7.33B | -5.00M |
| Total Common Equity | 19.61B | 21.94B | 15.86B | 12.65B | 6.64B | 3.23B |
| Minority Interest | 20.48B | 19.17B | 13.73B | 11.20B | 8.76B | 8.18B |
| Shareholders' Equity | 41.48B | 42.52B | 30.98B | 25.25B | 15.40B | 11.96B |
| Total Liabilities & Equity | 494.05B | 460.95B | 377.89B | 313.49B | 257.22B | 30.50B |
| Total Debt | 41.88B | 42.29B | 32.30B | 24.11B | 20.06B | 13.69B |
| Net Cash (Debt) | 5.73B | -3.87B | -3.45B | 1.82B | -3.75B | -12.30B |
| Net Cash Per Share | 9.64 | -6.52 | -5.72 | 3.09 | -6.42 | -52.00 |
| Filing Date Shares Outstanding | 590.54M | 578.25M | 570.48M | 568.16M | 570.65M | 248.90M |
| Total Common Shares Outstanding | 575.97M | 578.98M | 565.74M | 567.76M | 570.28M | 248.90M |
| Working Capital | 29.74B | 20.15B | 15.84B | 16.71B | 9.22B | -261.00M |
| Book Value Per Share | 34.04 | 37.90 | 28.03 | 22.27 | 11.64 | 13.00 |
| Tangible Book Value | 13.70B | 16.02B | 11.53B | 8.32B | 2.32B | 3.12B |
| Tangible Book Value Per Share | 23.78 | 27.67 | 20.38 | 14.65 | 4.06 | 12.53 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.88B | 3.49B | 4.58B | 5.05B | -1.96B | 1.84B |
| Depreciation & Amortization, Total | 1.60B | 1.43B | 1.07B | 803.00M | 529.00M | 27.00M |
| Gain (Loss) On Sale of Investments | -5.90B | -3.67B | -3.65B | -1.99B | 6.02B | -3.17B |
| Stock-Based Compensation | 952.00M | 789.00M | 721.00M | 1.03B | 540.00M | 1.18B |
| Change in Other Net Operating Assets | 11.16B | 6.00B | 1.26B | 3.15B | 2.80B | 1.86B |
| Other Operating Activities | -214.00M | -787.00M | -730.00M | -1.72B | -4.14B | -677.00M |
| Operating Cash Flow | 9.47B | 7.25B | 3.25B | 6.32B | 3.79B | 1.06B |
| Cash Acquisitions | 99.00M | 99.00M | 10.42B | |||
| Investment in Securities | -9.07B | -14.80B | -27.41B | -16.03B | -17.63B | -1.48B |
| Other Investing Activities | -3.43B | -7.87B | -6.22B | -5.41B | -3.29B | -69.00M |
| Investing Cash Flow | -51.33B | -63.97B | -61.80B | -42.41B | -23.44B | -1.55B |
| Long-Term Debt Issued | 7.22B | 7.95B | 4.91B | 5.75B | 1.33B | |
| Long-Term Debt Repaid | -4.64B | -5.26B | -3.78B | -4.03B | -1.97B | |
| Net Debt Issued (Repaid) | 2.19B | 2.57B | 2.69B | 1.13B | 1.71B | -634.00M |
| Issuance of Common Stock | 1.00B | |||||
| Repurchase of Common Stock | -1.31B | -773.00M | -890.00M | -561.00M | -635.00M | -299.00M |
| Preferred Dividends Paid | -97.00M | -97.00M | -97.00M | -22.00M | -37.00M | |
| Common Dividends Paid | -1.27B | -1.20B | -1.09B | -1.01B | -962.00M | -517.00M |
| Dividends Paid | -1.37B | -1.30B | -1.19B | -1.03B | -962.00M | -554.00M |
| Other Financing Activities | 55.79B | 59.70B | 57.37B | 41.70B | 28.59B | 595.00M |
| Financing Cash Flow | 55.31B | 60.20B | 57.97B | 42.64B | 28.71B | 109.00M |
| Foreign Exchange Rate Adjustments | -10.00M | 5.00M | -3.00M | 10.00M | -15.00M | |
| Net Cash Flow | 13.45B | 3.48B | -579.00M | 6.56B | 9.04B | -379.00M |
| Free Cash Flow | 9.47B | 7.25B | 3.25B | 6.32B | 3.79B | 1.06B |
| Free Cash Flow Margin | 26.61% | 22.79% | 12.57% | 19.79% | 34.94% | 18.30% |
| Free Cash Flow Per Share | 15.94 | 12.21 | 5.38 | 10.74 | 6.48 | 4.50 |
| Cash Interest Paid | 951.00M | 994.00M | 805.00M | 720.00M | 566.00M | 556.00M |
| Cash Income Tax Paid | 152.00M | 590.00M | 1.05B | 358.00M | 1.01B | 121.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 68.41B | 84.02B | 93.45B | 52.89B | 36.51B | 17.86B |
| Last Close Price | 115.84 | 142.96 | 160.85 | 89.42 | 59.84 | 66.19 |
| PE Ratio | 41.24 | 23.99 | 20.18 | 10.24 | 10.32 | |
| PS Ratio | 1.92 | 2.64 | 3.61 | 1.66 | 3.37 | 3.07 |
| PB Ratio | 3.40 | 1.98 | 3.02 | 2.10 | 2.37 | 1.49 |
| P/FCF Ratio | 7.22 | 11.60 | 28.73 | 8.37 | 9.63 | 16.79 |
| P/OCF Ratio | 7.22 | 11.60 | 28.73 | 8.37 | 9.63 | 16.79 |
| Debt / Equity Ratio | 1.01 | 0.99 | 1.04 | 0.95 | 1.30 | 1.14 |
| Debt / FCF Ratio | 4.42 | 5.84 | 9.93 | 3.81 | 5.29 | 12.87 |
| Net Debt / Equity Ratio | -0.14 | 0.09 | 0.11 | -0.07 | 0.24 | 1.03 |
| Net Debt / FCF Ratio | -0.60 | 0.53 | 1.06 | -0.29 | 0.99 | 11.56 |
| Asset Turnover | 0.08 | 0.08 | 0.07 | 0.11 | 0.07 | 0.21 |
| Quick Ratio | 1.90 | 1.61 | 1.66 | 1.96 | 1.55 | 0.66 |
| Current Ratio | 1.95 | 1.66 | 1.70 | 2.07 | 1.68 | 0.91 |
| Return on Equity (ROE) | 11.41% | 14.70% | 22.67% | 32.03% | -25.63% | 46.74% |
| Return on Assets (ROA) | 0.94% | 1.29% | 1.84% | 2.28% | -2.44% | 15.75% |
| Return on Invested Capital (ROIC) | 5.54% | 8.01% | 11.06% | 12.48% | -21.16% | 10.51% |
| Earnings Yield | 2.43% | 4.16% | 4.90% | 9.54% | -5.37% | 10.30% |
| FCF Yield | 13.85% | 8.62% | 3.48% | 11.95% | 10.38% | 5.96% |
| Dividend Yield | 1.94% | 1.41% | 1.11% | 1.85% | 2.50% | 2.65% |
| Payout Ratio | 80.09% | 37.17% | 25.98% | 20.49% | 30.12% | |
| Buyback Yield / Dilution | 0.48% | 1.72% | -2.58% | -0.71% | -147.16% | -3.97% |
| Total Shareholder Return | 2.42% | 3.12% | -1.47% | 1.14% | -144.66% | -1.32% |