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APOApollo Global Management

Financials · Asset Management · NYSE
Compare with peers → Embed
FY2025 at a glance

Sales up 22.7%

XBRL, from each 10-K
$32.0B
from $26.1B in FY2024
FY2020FY2025
Net incomeStatements ↓
$3.5B
from $4.6B in FY2024
FY2020FY2025
EPS (diluted)Statements ↓
$5.54
from $7.33 in FY2024
FY2020FY2025
Total debtStatements ↓
$13.4B
from $10.6B in FY2024
FY2020FY2025
Price and key numbers

The latest figures

All key numbers (34, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)-1.79Sales (ttm)30.8BNet income (ttm)-918.0MSales growth+22.7%EPS growth-24.4%Sales Q/Q-51.8%
Free cash flow-Gross margin-Oper. margin-Net margin-3.0%FCF margin-ROE-5.8%
ROA-0.2%R&D / sales-Dividend1.99Debt/Eq0.92Curr. ratio-Cash22.9B
Op. cash flow (ttm)9.3BNet debt-8.1BPayout ratio35.9%Tax rate19.1%Stock pay / sales2.5%Shares out.590.4M
Shares Y/Y-1.7%Book / share27.01Cash / share38.70Sales / share52.19Asset turnover0.06Sales 3Y CAGR+43.0%
Sales 5Y CAGR+68.6%EPS 5Y CAGR+66.0%Employees6,140Sales / employee5.0M

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Debt rose 26%$10.6B → $13.4B · Short-term + long-term debt at year end
  • Revenue growth sped up to +22.7%-20.0% → +22.7% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
What management wrote about it → · Every company →

APO against Financials peers

Ten years, side by side → · All 76 →
GrowthProfitBalanceCleanInsiders
APOPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 76 companies, the better end on the right. Hover a dot for the company.

Sales growth
+22.7%7th of 76 · median +7.2%
Net margin
-3.0%72nd of 76 · median 20.4%
Return on equity
-5.8%73rd of 74 · median 16.7%
Debt / equity (less is better)
0.9242nd of 62 · median 0.70
APO and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
APO Apollo Global Management$30.8B +22.7%--3.0%-5.8%-0.92
USB U.S. Bancorp$30.3B +4.4%-27.6%12.6%-1.10
HIG The Hartford$29.6B +6.9%-15.6%24.4%23.1%0.23
BLK BlackRock$28.5B +18.7%-24.2%11.9%16.8%0.22
MRSH Marsh McLennan$28.5B +10.3%-14.2%27.1%14.6%1.38
AIG American International Group$27.7B -1.7%-11.9%8.5%-0.24

Profitability

0 of 3
  • !
    Net margin below the peer median-3.0% vs 20.4%
  • !
    Return on equity below 15%-5.8%
  • !
    A profit in 5 of 6 years
Net margin, FY2020 to FY2025: 6.7% → 10.9%

Cash and shareholders

0 of 2
  • !
    Share count up over 5 years+160.9%
  • !
    Dividend per share not up over 5 years$2.31 → $1.99

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Revenue and net income, FY2020 to FY2025

Revenue 32.0B Net income 3.5B
FY2020 revenue 2.4B · Revenues, 0001858681-23-000007 FY2020 net income 157.0M · NetIncomeLoss, 0001858681-23-000007 2.4B FY2020 FY2021 revenue 6.0B · Revenues, 0001858681-24-000031 FY2021 net income 1.8B · NetIncomeLoss, 0001858681-24-000031 6.0B FY2021 FY2022 revenue 11.0B · Revenues, 0001858681-25-000034 FY2022 net income -2.0B · NetIncomeLoss, 0001858681-25-000034 11.0B FY2022 FY2023 revenue 32.6B · Revenues, 0001858681-26-000013 FY2023 net income 5.0B · NetIncomeLoss, 0001858681-26-000013 32.6B FY2023 FY2024 revenue 26.1B · Revenues, 0001858681-26-000013 FY2024 net income 4.6B · NetIncomeLoss, 0001858681-26-000013 26.1B FY2024 FY2025 revenue 32.0B · Revenues, 0001858681-26-000013 FY2025 net income 3.5B · NetIncomeLoss, 0001858681-26-000013 32.0B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

APO's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Revenue32.0B
FY2020: 2.4BFY2021: 6.0BFY2022: 11.0BFY2023: 32.6BFY2024: 26.1BFY2025: 32.0B FY2020FY2021FY2022FY2023FY2024FY2025
Net income3.5B
FY2020: 157.0MFY2021: 1.8BFY2022: -2.0BFY2023: 5.0BFY2024: 4.6BFY2025: 3.5B FY2020FY2021FY2022FY2023FY2024FY2025
EPS (diluted)5.54
FY2020: 0.44FY2021: 7.32FY2022: -3.43FY2023: 8.28FY2024: 7.33FY2025: 5.54 FY2020FY2021FY2022FY2023FY2024FY2025
Dividend per share1.99
FY2020: 2.31FY2021: 2.10FY2022: 1.60FY2023: 1.69FY2024: 1.81FY2025: 1.99 FY2020FY2021FY2022FY2023FY2024FY2025
Diluted shares593.7M
FY2020: 227.5MFY2021: 236.6MFY2022: 584.7MFY2023: 588.8MFY2024: 604.0MFY2025: 593.7M FY2020FY2021FY2022FY2023FY2024FY2025

Revenue by business segment

year to Dec 31, 2025
RevenueSharevs year before
Retirement Services 27.0B84.4% +23.3%
Asset Management and Retirement Segments 20.2B63.1% +22.5%
Asset Management 5.0B15.6% +19.7%
Principal Investing 1.3B4.0% +29.9%

10-K 0001858681-26-000013, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Management fees 2.4B7.4% +25.2%
Capital solutions fees and other, net 1.2B3.8% +46.2%
Incentive fees 245.0M0.8% +63.3%

10-K 0001858681-26-000013, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2020FY2021FY2022FY2023FY2024FY2025
Revenue2.4B6.0B11.0B32.6B26.1B32.0B
Interest expense133.0M138.0M222.0M268.0M474.0M618.0M
Pretax income553.0M4.9B-4.2B5.6B7.4B6.7B
Income tax86.0M594.0M-739.0M-923.0M1.1B1.3B
Net income157.0M1.8B-2.0B5.0B4.6B3.5B
EPS (diluted)0.447.32-3.438.287.335.54
Diluted shares227.5M236.6M584.7M588.8M604.0M593.7M
Depreciation & amortization19.0M27.0M529.0M803.0M1.1B1.4B
Net margin6.7%30.9%-17.9%15.5%17.5%10.9%
Revenue growth-+153%+84.3%+198%-20.0%+22.7%
EPS growth-+1564%-147%--11.5%-24.4%

Balance sheet

From EDGAR
FY2020FY2021FY2022FY2023FY2024FY2025
Cash1.6B917.0M9.0B17.7B17.1B20.6B
Goodwill-117.0M4.3B4.3B4.3B5.9B
Total assets-30.5B257.2B313.5B377.9B460.9B
Total debt-3.1B6.5B8.1B10.6B13.4B
Total liabilities-18.5B241.8B288.2B346.9B418.4B
Shareholders' equity5.5B3.8B6.6B14.0B17.3B23.3B
Retained earnings-1.1B-1.0B3.0B6.0B7.6B

Cash flow

From EDGAR
FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow-1.6B1.1B3.8B6.3B3.3B7.2B
Stock-based pay (added back)213.0M1.2B540.0M1.0B721.0M789.0M
Dividends paid550.0M517.0M962.0M1.0B1.1B1.2B
Buybacks92.0M299.0M635.0M561.0M890.0M773.0M
Acquisitions---00-99.0M
Debt raised4.3B1.3B5.7B4.9B7.9B7.2B
Debt repaid925.0M2.0B4.0B3.8B5.3B4.6B
Investing cash flow-838.0M-1.6B-23.4B-42.4B-61.8B-64.0B
Financing cash flow3.3B109.0M28.7B42.6B58.0B60.2B
Dividend per share2.312.101.601.691.811.99

Stock-based pay and leases

From EDGAR
FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)213.0M1.2B540.0M1.0B721.0M789.0M
Stock-based pay / revenue9.0%19.8%4.9%3.1%2.8%2.5%

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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