A Business at a Glance
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Apollo Commercial Real Estate Finance, Inc.
ARI
$957M
Mkt Cap
$6.77
+0.15%
Apollo Commercial Real Estate Finance, Inc. (ARI) has a current P/E ratio of 8.4, compared to its historical median P/E of 5.3. The stock is currently considered Fair based on its historical valuation range.
Apollo Commercial Real Estate Finance, Inc. (ARI) has a 5-year average return on invested capital (ROIC) of 16.9%. This indicates strong capital allocation and a potential competitive advantage.
Apollo Commercial Real Estate Finance, Inc. (ARI) has a market capitalization of $926M. It is classified as a small-cap stock.
Yes, Apollo Commercial Real Estate Finance, Inc. (ARI) pays a dividend with a trailing twelve-month yield of 15.28%. The company also returns capital through share buybacks, with a buyback yield of 3.27%.
Based on historical P/E analysis, Apollo Commercial Real Estate Finance, Inc. (ARI) appears fair. The current P/E of 8.4 is 59% above its historical median of 5.3. The estimated fair value CAGR (P/E method) is -10.8%.
Apollo Commercial Real Estate Finance, Inc. (ARI) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
All currency figures expressed herein are expressed in thousands, except share or per share amounts. Apollo Commercial Real Estate Finance, Inc. is a corporation that has elected to be taxed as a REIT for U.S. federal income tax purposes and primarily originates, acquires, invests in and manages performing commercial first mortgage loans, subordinate financings and other commercial real estate-related debt investments. These asset classes are referred to as our target assets. We are externally managed and advised by the Manager, an indirect subsidiary of Apollo Global Management, Inc. (together with its subsidiaries, "Apollo"), a global, high-growth alternative asset manager with assets under management of approximately $938.4 billion as of December 31, 2025. The Manager is led by an experienced team of senior real estate professionals who have significant experience in underwriting and structuring commercial real estate financing transactions.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 264M | 272M | 304M | 345M | 304M | 285M |
| Net Income | 115M | 114M | -132M | 46M | 253M | 211M |
| EPS | $0.83 | $0.81 | $-0.97 | $0.29 | $1.68 | $1.46 |
| Free Cash Flow | 0 | 143M | 200M | 274M | 268M | 199M |
| ROIC | 0.0% | 24.5% | 15.9% | 13.3% | 14.5% | 16.0% |
| Gross Margin | - | - | - | - | 87.1% | 85.7% |
| Debt/Equity | 0.61 | 0.51 | 0.25 | 0.30 | 1.20 | 0.13 |
| Dividends/Share | $1.03 | $1.00 | $1.20 | $1.40 | $1.40 | $1.40 |
| Operating Income | 0 | 575M | 372M | 512M | 523M | 373M |
| Operating Margin | 0.0% | - | - | - | - | - |
| ROE | 6.3% | 6.1% | -6.5% | 2.0% | 10.9% | 9.2% |
| Shares Outstanding | 137M | 141M | 136M | 158M | 151M | 144M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 97M | 143M | 201M | 260M | 289M | 334M | 279M | 285M | 304M | 345M | 304M | 272M | 264M |
| Gross Margin | 87.6% | 88.4% | 88.3% | 87.8% | 87.4% | 87.8% | 85.7% | 85.7% | 87.1% | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 6.2M | 9.5M | 25M | 21M | 20M | 24M | 27M | 29M | 30M | 30M | 30M | 27M | 27M |
| EBIT | 102M | 140M | 191M | 234M | 307M | 365M | 167M | 373M | 523M | 512M | 372M | 575M | 0 |
| Op. Margin | N/A | 97.9% | 95.4% | 90.0% | N/A | N/A | 60.0% | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Net Income | 75M | 91M | 128M | 156M | 193M | 212M | 18M | 211M | 253M | 46M | -132M | 114M | 115M |
| Net Margin | 77.8% | 63.8% | 63.6% | 60.0% | 66.6% | 63.3% | 6.6% | 74.0% | 83.3% | 13.3% | -43.4% | 42.1% | 43.4% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 8.0% | 6.7% | 8.6% | 10.2% | 11.0% | 12.7% | 6.5% | 16.0% | 14.5% | 13.3% | 15.9% | 24.5% | 0.0% |
| ROE | 9.8% | 8.2% | 7.7% | 7.8% | 8.4% | 8.2% | 0.8% | 9.2% | 10.9% | 2.0% | -6.5% | 6.1% | 6.3% |
| ROA | 5.5% | 4.0% | 4.1% | 4.1% | 4.2% | 3.5% | 0.3% | 2.7% | 2.8% | 0.5% | -1.5% | 1.2% | 1.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 67M | 88M | 124M | 155M | 266M | 273M | 164M | 199M | 268M | 274M | 200M | 143M | 116M |
| Free Cash Flow | 67M | 88M | 124M | 155M | 266M | 273M | 164M | 199M | 268M | 274M | 200M | 143M | 0 |
| Owner Earnings | 66M | 84M | 119M | 144M | 257M | 258M | 147M | 179M | 249M | 248M | 172M | 118M | 90M |
| CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Maint. CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.6M | 704K | 8.2M | 12M | 11M | 13M |
| Growth CapEx | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| D&A | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.6M | 704K | 8.2M | 12M | 11M | 13M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 68M | 101M | 132M | 184M | 227M | 269M | 238M | 200M | 201M | 202M | 186M | 141M | 141M |
| Dividend Yield | 34.5% | 33.6% | 33.1% | 26.8% | 23.0% | 21.3% | 30.8% | 16.5% | 17.2% | 16.2% | 16.1% | 10.9% | 15.3% |
| Share Buybacks | 0 | 1.7M | 0 | 0 | 0 | 0 | 128M | 0 | 0 | 0 | 41M | 0 | 30M |
| Buyback Yield | N/A | 0.5% | N/A | N/A | N/A | N/A | 14.4% | N/A | N/A | N/A | 3.8% | N/A | 3.3% |
| Stock-Based Comp | 698K | 4.3M | 4.5M | 11M | 8.8M | 16M | 17M | 18M | 18M | 17M | 16M | 14M | 13M |
| Debt Repayment | 0 | 0 | 0 | 0 | 40M | 704K | 0 | 0 | 345M | 230M | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 828M | 1.1B | 49M | 507M | 482M | 126M | 158M | -46M | 2.6B | 444M | 146M | 801M | 973M |
| Cash & Equiv. | 41M | 67M | 201M | 78M | 110M | 452M | 325M | 343M | 222M | 225M | 317M | 140M | 127M |
| Long-Term Debt | 246M | 248M | 250M | 585M | 592M | 562M | 0 | 297M | 0 | 0 | N/A | N/A | 1.1B |
| Debt/Equity | 1.02 | 0.85 | 0.13 | 0.28 | 0.24 | 0.22 | 0.21 | 0.13 | 1.20 | 0.30 | 0.25 | 0.51 | 0.61 |
| Interest Coverage | 3.8 | 2.9 | 3.0 | 3.0 | 2.7 | 2.4 | 1.1 | 2.3 | 1.9 | 1.1 | 0.7 | 1.2 | 1.2 |
| Equity | 855M | 1.4B | 1.9B | 2.1B | 2.5B | 2.6B | 2.3B | 2.3B | 2.4B | 2.2B | 1.9B | 1.9B | 1.8B |
| Total Assets | 1.8B | 2.7B | 3.5B | 4.1B | 5.1B | 6.9B | 6.9B | 8.4B | 9.6B | 9.3B | 8.4B | 9.9B | 10.1B |
| Total Liabilities | 990M | 1.3B | 1.6B | 2.0B | 2.6B | 4.3B | 4.7B | 6.1B | 7.2B | 7.1B | 6.5B | 8.0B | 8.3B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -10M | -32M | -48M | -83M | -130M | -197M | -439M | -428M | -364M | -520M | -823M | -850M | -861M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | 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 | 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 | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 1.72 | 1.54 | 1.74 | 1.54 | 1.48 | 1.40 | 0.13 | 1.46 | 1.68 | 0.29 | -0.97 | 0.81 | 0.83 |
| Owner EPS | 1.52 | 1.41 | 1.63 | 1.42 | 1.98 | 1.70 | 1.06 | 1.24 | 1.65 | 1.57 | 1.27 | 0.83 | 0.66 |
| Book Value | 19.53 | 23.18 | 26.35 | 20.58 | 19.28 | 17.40 | 16.30 | 15.91 | 15.64 | 13.97 | 13.78 | 13.14 | 13.25 |
| Cash Flow/Share | 1.53 | 1.49 | 1.69 | 1.53 | 2.04 | 1.81 | 1.18 | 1.38 | 1.78 | 1.73 | 1.47 | 1.01 | 0.93 |
| Dividends/Share | 1.60 | 1.87 | 1.84 | 1.84 | 1.84 | 1.84 | 1.45 | 1.40 | 1.40 | 1.40 | 1.20 | 1.00 | 1.03 |
| Shares Out. | 43.8M | 59.3M | 73.3M | 101.5M | 130.2M | 151.2M | 139.3M | 144.2M | 150.6M | 158.1M | 136.0M | 141.3M | 136.7M |
| Valuation | |||||||||||||
| P/E Ratio | 2.8 | 3.6 | 3.4 | 4.8 | 5.0 | 6.3 | 630.7 | 5.5 | 4.4 | 33.3 | N/A | 12.0 | 8.2 |
| P/FCF | 3.1 | 3.7 | 3.5 | 4.8 | 3.6 | 4.9 | 5.4 | 5.9 | 4.1 | 5.6 | 5.3 | 9.6 | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | 499.4 | 2.8 | 17.9 | N/A | 20.2 | N/A | N/A |
| Price/Book | 0.2 | 0.2 | 0.2 | 0.4 | 0.4 | 0.5 | 0.4 | 0.5 | 0.5 | 0.7 | 0.6 | 0.7 | 0.5 |
| Price/Sales | 2.0 | 2.1 | 2.0 | 2.6 | 3.4 | 3.8 | 2.8 | 4.3 | 3.8 | 3.6 | 3.8 | 4.8 | 3.5 |
| FCF Yield | 32.3% | 26.7% | 28.7% | 20.8% | 27.8% | 20.4% | 18.5% | 17.1% | 24.1% | 17.9% | 18.9% | 10.4% | N/A |
| Market Cap | 207M | 329M | 431M | 744M | 955M | 1.3B | 886M | 1.2B | 1.1B | 1.5B | 1.1B | 1.4B | 926M |
| Avg. Price | 4.49 | 5.06 | 5.45 | 6.76 | 7.60 | 8.37 | 5.55 | 8.40 | 7.73 | 7.88 | 8.51 | 9.19 | 6.77 |
| Year-End Price | 4.74 | 5.55 | 5.88 | 7.33 | 7.34 | 8.89 | 6.31 | 8.09 | 7.38 | 9.67 | 7.80 | 9.71 | 6.77 |
Apollo Commercial Real Estate Finance, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Apollo Commercial Real Estate Finance, Inc. trades at 8.4x trailing earnings, compared to its 15-year median P/E of 5.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 6.7x vs a median of 5.1x. The company's 5-year average ROIC is 16.9% with a gross margin of 86.4%. Total shareholder yield (dividends + buybacks) is 18.6%. At current prices, the estimated annualized return to fair value is -2.3%.
Apollo Commercial Real Estate Finance, Inc. (ARI) reported annual revenue of $272 million in its most recent fiscal year, based on SEC EDGAR filings.
Apollo Commercial Real Estate Finance, Inc. (ARI) has a net profit margin of 42.1%. This is a strong margin indicating high profitability.
Apollo Commercial Real Estate Finance, Inc. (ARI) generated $143 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Apollo Commercial Real Estate Finance, Inc. (ARI) has a debt-to-equity ratio of 0.51. This indicates moderate leverage.
Apollo Commercial Real Estate Finance, Inc. (ARI) reported earnings per share (EPS) of $0.81 in its most recent fiscal year.
Apollo Commercial Real Estate Finance, Inc. (ARI) has a return on equity (ROE) of 6.1%. This indicates moderate shareholder returns.
Apollo Commercial Real Estate Finance, Inc. (ARI) has a 5-year average gross margin of 86.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for Apollo Commercial Real Estate Finance, Inc. (ARI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Apollo Commercial Real Estate Finance, Inc. (ARI) has a book value per share of $13.14, based on its most recent annual SEC filing.
No recent press releases.