Sales up 22.7%
The latest figures
All key numbers (34) From EDGAR
| EPS (ttm) | -1.79 | Sales (ttm) | 30.8B | Net income (ttm) | -918.0M | Sales 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 | - | Dividend | 1.99 | Debt/Eq | 0.92 | Curr. ratio | - | Cash | 22.9B |
| Op. cash flow (ttm) | 9.3B | Net debt | -8.1B | Payout ratio | 35.9% | Tax rate | 19.1% | Stock pay / sales | 2.5% | Shares out. | 590.4M |
| Shares Y/Y | -1.7% | Book / share | 27.01 | Cash / share | 38.70 | Sales / share | 52.19 | Asset turnover | 0.06 | Sales 3Y CAGR | +43.0% |
| Sales 5Y CAGR | +68.6% | EPS 5Y CAGR | +66.0% | Employees | 6,140 | Sales / employee | 5.0M |
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 ↗
APO against Financials peers
Ten years, side by side → · All 76 →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.
| Company | Revenue (ttm) | Sales growth | Gross margin | Net margin | ROE | FCF margin | Debt / 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
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 3.5BFrom XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →
Income statement, balance sheet and cash flow
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.
Revenue by business segment
year to Dec 31, 2025| Revenue | Share | vs year before | |
|---|---|---|---|
| Retirement Services | 27.0B | 84.4% | +23.3% |
| Asset Management and Retirement Segments | 20.2B | 63.1% | +22.5% |
| Asset Management | 5.0B | 15.6% | +19.7% |
| Principal Investing | 1.3B | 4.0% | +29.9% |
10-K 0001858681-26-000013, segment and revenue notes (XBRL).
Revenue by product or service
year to Dec 31, 2025| Revenue | Share | vs year before | |
|---|---|---|---|
| Management fees | 2.4B | 7.4% | +25.2% |
| Capital solutions fees and other, net | 1.2B | 3.8% | +46.2% |
| Incentive fees | 245.0M | 0.8% | +63.3% |
10-K 0001858681-26-000013, segment and revenue notes (XBRL).
Income statement
From EDGAR| FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|
| Revenue | 2.4B | 6.0B | 11.0B | 32.6B | 26.1B | 32.0B |
| Interest expense | 133.0M | 138.0M | 222.0M | 268.0M | 474.0M | 618.0M |
| Pretax income | 553.0M | 4.9B | -4.2B | 5.6B | 7.4B | 6.7B |
| Income tax | 86.0M | 594.0M | -739.0M | -923.0M | 1.1B | 1.3B |
| Net income | 157.0M | 1.8B | -2.0B | 5.0B | 4.6B | 3.5B |
| EPS (diluted) | 0.44 | 7.32 | -3.43 | 8.28 | 7.33 | 5.54 |
| Diluted shares | 227.5M | 236.6M | 584.7M | 588.8M | 604.0M | 593.7M |
| Depreciation & amortization | 19.0M | 27.0M | 529.0M | 803.0M | 1.1B | 1.4B |
| Net margin | 6.7% | 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| FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|
| Cash | 1.6B | 917.0M | 9.0B | 17.7B | 17.1B | 20.6B |
| Goodwill | - | 117.0M | 4.3B | 4.3B | 4.3B | 5.9B |
| Total assets | - | 30.5B | 257.2B | 313.5B | 377.9B | 460.9B |
| Total debt | - | 3.1B | 6.5B | 8.1B | 10.6B | 13.4B |
| Total liabilities | - | 18.5B | 241.8B | 288.2B | 346.9B | 418.4B |
| Shareholders' equity | 5.5B | 3.8B | 6.6B | 14.0B | 17.3B | 23.3B |
| Retained earnings | - | 1.1B | -1.0B | 3.0B | 6.0B | 7.6B |
Cash flow
From EDGAR| FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|
| Operating cash flow | -1.6B | 1.1B | 3.8B | 6.3B | 3.3B | 7.2B |
| Stock-based pay (added back) | 213.0M | 1.2B | 540.0M | 1.0B | 721.0M | 789.0M |
| Dividends paid | 550.0M | 517.0M | 962.0M | 1.0B | 1.1B | 1.2B |
| Buybacks | 92.0M | 299.0M | 635.0M | 561.0M | 890.0M | 773.0M |
| Acquisitions | - | - | - | 0 | 0 | -99.0M |
| Debt raised | 4.3B | 1.3B | 5.7B | 4.9B | 7.9B | 7.2B |
| Debt repaid | 925.0M | 2.0B | 4.0B | 3.8B | 5.3B | 4.6B |
| Investing cash flow | -838.0M | -1.6B | -23.4B | -42.4B | -61.8B | -64.0B |
| Financing cash flow | 3.3B | 109.0M | 28.7B | 42.6B | 58.0B | 60.2B |
| Dividend per share | 2.31 | 2.10 | 1.60 | 1.69 | 1.81 | 1.99 |
Stock-based pay and leases
From EDGARFrom 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.