A Business at a Glance
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Index to Business Our Businesses Asset Management Retirement Services Principal Investing Human Capital Regulatory and Compliance Matters Available Information Founded in 1990, Apollo is a high-growth, global alternative asset manager and a retirement services provider. Apollo conducts its business primarily in the U.S. through the following three reportable segments: Asset Management, Retirement Services and Principal Investing. These business segments are differentiated based on the investment services they provide as well as varying investing strategies. Our Businesses Asset Management Our Asset Management segment focuses on credit and equity investing strategies. These strategies reflect the range of investment capabilities across our platform based on relative risk and return. As an asset manager, we earn fees for providing investment management services and expertise to our client base.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 32.0B | 32.0B | 26.1B | 32.6B | 11.0B | 6.0B |
| Net Income | 3.4B | 3.4B | 4.5B | 5.0B | -2.0B | 1.8B |
| EPS | $5.54 | $5.54 | $7.33 | $8.28 | $-3.43 | $3.08 |
| Free Cash Flow | 7.2B | 7.2B | 3.3B | 6.3B | 3.8B | 1.1B |
| ROIC | 26.4% | 10.5% | 16.1% | 22.6% | -15.0% | 26.0% |
| Gross Margin | 27.2% | 27.2% | 34.4% | - | - | - |
| Debt/Equity | 0.57 | 0.57 | 0.61 | 0.58 | 0.97 | 0.83 |
| Dividends/Share | $1.96 | $1.99 | $1.81 | $1.69 | $1.60 | $0.91 |
| Operating Income | 6.7B | 6.7B | 7.4B | 5.6B | -4.2B | 4.9B |
| Operating Margin | 20.8% | 20.8% | 28.5% | 17.1% | -38.7% | 81.7% |
| ROE | 14.5% | 16.7% | 26.0% | 35.6% | -29.5% | 47.6% |
| Shares Outstanding | 613M | 613M | 611M | 604M | 572M | 571M |
| Metric | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 2.4B | 6.0B | 11.0B | 32.6B | 26.1B | 32.0B | 32.0B |
| Gross Margin | N/A | N/A | N/A | N/A | 34.4% | 27.2% | 27.2% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | 482M | 682M | 872M | 1.2B | 1.5B | 1.5B |
| EBIT | N/A | 4.9B | -4.2B | 5.6B | 7.4B | 6.7B | 6.7B |
| Op. Margin | N/A | 81.7% | -38.7% | 17.1% | 28.5% | 20.8% | 20.8% |
| Net Income | 120M | 1.8B | -2.0B | 5.0B | 4.5B | 3.4B | 3.4B |
| Net Margin | 5.1% | 30.3% | -17.9% | 15.3% | 17.2% | 10.6% | 10.6% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||
| ROIC | 1.9% | 26.0% | -15.0% | 22.6% | 16.1% | 10.5% | 26.4% |
| ROE | 2.8% | 47.6% | -29.5% | 35.6% | 26.0% | 16.7% | 14.5% |
| ROA | N/A | 5.9% | -0.8% | 1.6% | 1.2% | 0.8% | 0.7% |
| Cash Flow | |||||||
| Op. Cash Flow | -1.6B | 1.1B | 3.8B | 6.3B | 3.3B | 7.2B | 7.2B |
| Free Cash Flow | -1.6B | 1.1B | 3.8B | 6.3B | 3.3B | 7.2B | 7.2B |
| Owner Earnings | -1.8B | -144M | 2.7B | 4.5B | 1.5B | 5.0B | 5.0B |
| CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Maint. CapEx | 19M | 27M | 529M | 803M | 1.1B | 1.4B | 1.4B |
| Growth CapEx | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| D&A | 19M | 27M | 529M | 803M | 1.1B | 1.4B | 1.4B |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||
| Dividends Paid | 550M | 517M | 962M | 1.0B | 1.1B | 1.2B | 1.2B |
| Dividend Yield | 5.2% | 1.7% | 3.1% | 2.3% | 1.5% | 1.4% | 1.8% |
| Share Buybacks | 92M | 299M | 635M | 561M | 890M | 773M | 773M |
| Buyback Yield | 0.8% | 0.8% | 1.9% | 1.0% | 0.9% | 0.9% | 1.1% |
| Stock-Based Comp | 213M | 1.2B | 540M | 1.0B | 721M | 789M | 789M |
| Debt Repayment | 925M | 2.0B | 4.0B | 3.8B | 5.3B | 4.6B | 4.6B |
| Balance Sheet | |||||||
| Net Debt | 2.7B | 1.3B | -114.7B | -156.0B | -189.0B | -223.6B | -5.0B |
| Cash & Equiv. | 1.6B | 917M | 9.0B | 15.8B | 15.4B | 18.3B | 18.3B |
| Long-Term Debt | 4.3B | 3.1B | 6.5B | 8.1B | 10.6B | 13.4B | 13.4B |
| Debt/Equity | 0.78 | 0.83 | 0.97 | 0.58 | 0.61 | 0.57 | 0.57 |
| Interest Coverage | N/A | 6.3 | -34.2 | 38.5 | 32.9 | 26.1 | 26.1 |
| Equity | 5.5B | 3.8B | 6.6B | 14.0B | 17.3B | 23.3B | 23.3B |
| Total Assets | N/A | 30.5B | 257.2B | 313.5B | 377.9B | 460.9B | 460.9B |
| Total Liabilities | 0 | 18.5B | 241.8B | 288.2B | 346.9B | 418.4B | 418.4B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | 1.1B | -1.0B | 3.0B | 6.0B | 7.6B | 7.6B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||
| EPS | 0.44 | 3.08 | -3.43 | 8.28 | 7.33 | 5.54 | 5.54 |
| Owner EPS | -6.78 | -0.25 | 4.76 | 7.44 | 2.38 | 8.20 | 8.20 |
| Book Value | 20.21 | 6.64 | 11.61 | 23.25 | 28.23 | 38.09 | 38.09 |
| Cash Flow/Share | -5.93 | 1.86 | 6.63 | 10.47 | 5.32 | 11.82 | 7.88 |
| Dividends/Share | 2.31 | 0.91 | 1.60 | 1.69 | 1.81 | 1.99 | 1.96 |
| Shares Out. | 272.7M | 570.7M | 571.7M | 604.0M | 611.2M | 612.8M | 612.8M |
| Valuation | |||||||
| P/E Ratio | 97.7 | 22.0 | N/A | 11.0 | 22.8 | 26.7 | 19.8 |
| P/FCF | N/A | 36.3 | 8.9 | 8.7 | 31.4 | 12.5 | 9.3 |
| EV/EBIT | 42.7 | 8.2 | N/A | N/A | N/A | N/A | 9.3 |
| Price/Book | 2.1 | 10.2 | 5.1 | 3.9 | 5.9 | 3.9 | 2.9 |
| Price/Sales | 4.5 | 5.1 | 2.9 | 1.4 | 2.8 | 2.6 | 2.1 |
| FCF Yield | -13.8% | 2.8% | 11.2% | 11.5% | 3.2% | 8.0% | 10.8% |
| Market Cap | 11.7B | 38.6B | 33.8B | 55.1B | 102.2B | 90.6B | 67.4B |
| Avg. Price | 39.04 | 53.47 | 54.86 | 73.17 | 120.02 | 138.54 | 109.95 |
| Year-End Price | 43.00 | 67.70 | 59.14 | 91.22 | 167.23 | 147.92 | 109.95 |
Apollo Global Management, Inc. passes 6 of 9 quality checks, suggesting mixed fundamentals.
Apollo Global Management, Inc. trades at 19.8x trailing earnings, compared to its 15-year median P/E of 22.8x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 9.3x vs a median of 12.5x. The company's 5-year average ROIC is 12.1% with a gross margin of 30.8%. Total shareholder yield (dividends + buybacks) is 2.9%. At current prices, the estimated annualized return to fair value is +36.0%.
Apollo Global Management, Inc. (APO) has a current P/E ratio of 19.8, compared to its historical median P/E of 22.8. The stock is currently considered Fair based on its historical valuation range.
Apollo Global Management, Inc. (APO) has a 5-year average return on invested capital (ROIC) of 12.1%. This indicates solid capital allocation.
Apollo Global Management, Inc. (APO) has a market capitalization of $67.4B. It is classified as a large-cap stock.
Yes, Apollo Global Management, Inc. (APO) pays a dividend with a trailing twelve-month yield of 1.78%. The company also returns capital through share buybacks, with a buyback yield of 1.15%.
Based on historical P/E analysis, Apollo Global Management, Inc. (APO) appears fair. The current P/E of 19.8 is 13% below its historical median of 22.8. The estimated fair value CAGR (P/E method) is 14.7%.
Apollo Global Management, Inc. (APO) operates in the Investment Advice industry, within the Financials sector.
Apollo Global Management, Inc. (APO) reported annual revenue of $32.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
Apollo Global Management, Inc. (APO) has a net profit margin of 10.6%. This is a healthy margin.
Apollo Global Management, Inc. (APO) generated $7.2 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Apollo Global Management, Inc. (APO) has a debt-to-equity ratio of 0.57. This indicates moderate leverage.
Apollo Global Management, Inc. (APO) reported earnings per share (EPS) of $5.54 in its most recent fiscal year.
Apollo Global Management, Inc. (APO) has a return on equity (ROE) of 16.7%. This indicates the company generates strong returns for shareholders.
Apollo Global Management, Inc. (APO) has a 5-year average gross margin of 30.8%. This indicates decent pricing power.
The Ledger Terminal provides 6 years of financial data for Apollo Global Management, Inc. (APO), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Apollo Global Management, Inc. (APO) has a book value per share of $38.09, based on its most recent annual SEC filing.