Asset Management - Global
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APO vs BX
Revenue, margins, valuation, and 5-year total return — side by side.
Asset Management
APO vs BX — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | Asset Management - Global | Asset Management |
| Market Cap | $73.98B | $96.16B |
| Revenue (TTM) | $26.11B | $13.83B |
| Net Income (TTM) | $4.23B | $3.02B |
| Gross Margin | 95.6% | 86.0% |
| Operating Margin | 31.8% | 51.9% |
| Forward P/E | 14.7x | 20.6x |
| Total Debt | $10.59B | $13.31B |
| Cash & Equiv. | $16.17B | $2.63B |
APO vs BX — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Apollo Global Manag… (APO) | 100 | 273.7 | +173.7% |
| Blackstone Inc. (BX) | 100 | 216.1 | +116.1% |
Price return only. Dividends and distributions are not included.
Quick Verdict: APO vs BX
Each card shows where this stock fits in a portfolio — not just who wins on paper.
APO is the clearest fit if your priority is income & stability and long-term compounding.
- Dividend streak 2 yrs, beta 1.43, yield 1.4%
- 8.0% 10Y total return vs BX's 478.0%
- Lower volatility, beta 1.43, Low D/E 34.2%, current ratio 0.80x
BX carries the broadest edge in this set and is the clearest fit for growth exposure and valuation efficiency.
- Rev growth 21.6%, EPS growth 7.2%
- PEG 0.98 vs APO's 1.01
- Beta 1.53, yield 6.3%, current ratio 0.91x
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 21.6% NII/revenue growth vs APO's -20.0% | |
| Value | Lower P/E (14.7x vs 20.6x) | |
| Quality / Margins | Efficiency ratio 0.3% vs APO's 0.6% (lower = leaner) | |
| Stability / Safety | Beta 1.43 vs BX's 1.53, lower leverage | |
| Dividends | 6.3% yield, 2-year raise streak, vs APO's 1.4% | |
| Momentum (1Y) | -1.2% vs BX's -6.2% | |
| Efficiency (ROA) | Efficiency ratio 0.3% vs APO's 0.6% |
APO vs BX — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
APO vs BX — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
BX leads this category, winning 3 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
APO is the larger business by revenue, generating $26.1B annually — 1.9x BX's $13.8B. Profitability is closely matched — net margins range from 21.8% (BX) to 16.9% (APO).
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $26.1B | $13.8B |
| EBITDAEarnings before interest/tax | $9.4B | $7.2B |
| Net IncomeAfter-tax profit | $4.2B | $3.0B |
| Free Cash FlowCash after capex | $2.6B | $3.5B |
| Gross MarginGross profit ÷ Revenue | +95.6% | +86.0% |
| Operating MarginEBIT ÷ Revenue | +31.8% | +51.9% |
| Net MarginNet income ÷ Revenue | +16.9% | +21.8% |
| FCF MarginFCF ÷ Revenue | +12.5% | +12.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +115.5% | +41.3% |
Valuation Metrics
APO leads this category, winning 7 of 7 comparable metrics.
Valuation Metrics
At 17.8x trailing earnings, APO trades at a 44% valuation discount to BX's 31.6x P/E. Adjusting for growth (PEG ratio), APO offers better value at 1.22x vs BX's 1.51x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | ||
|---|---|---|
| Market CapShares × price | $74.0B | $96.2B |
| Enterprise ValueMkt cap + debt − cash | $68.4B | $106.8B |
| Trailing P/EPrice ÷ TTM EPS | 17.78x | 31.63x |
| Forward P/EPrice ÷ next-FY EPS est. | 14.71x | 20.56x |
| PEG RatioP/E ÷ EPS growth rate | 1.22x | 1.51x |
| EV / EBITDAEnterprise value multiple | 7.30x | 14.81x |
| Price / SalesMarket cap ÷ Revenue | 2.83x | 6.95x |
| Price / BookPrice ÷ Book value/share | 2.54x | 4.38x |
| Price / FCFMarket cap ÷ FCF | 22.74x | 55.11x |
Profitability & Efficiency
APO leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
BX delivers a 14.3% return on equity — every $100 of shareholder capital generates $14 in annual profit, vs $11 for APO. APO carries lower financial leverage with a 0.34x debt-to-equity ratio, signaling a more conservative balance sheet compared to BX's 0.61x. On the Piotroski fundamental quality scale (0–9), BX scores 5/9 vs APO's 2/9, reflecting solid financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | +10.6% | +14.3% |
| ROA (TTM)Return on assets | +0.9% | +6.5% |
| ROICReturn on invested capital | +16.6% | +16.1% |
| ROCEReturn on capital employed | +8.1% | +16.9% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 5 |
| Debt / EquityFinancial leverage | 0.34x | 0.61x |
| Net DebtTotal debt minus cash | -$5.6B | $10.7B |
| Cash & Equiv.Liquid assets | $16.2B | $2.6B |
| Total DebtShort + long-term debt | $10.6B | $13.3B |
| Interest CoverageEBIT ÷ Interest expense | 20.22x | 14.12x |
Total Returns (Dividends Reinvested)
APO leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in APO five years ago would be worth $24,613 today (with dividends reinvested), compared to $16,301 for BX. Over the past 12 months, APO leads with a -1.2% total return vs BX's -6.2%. The 3-year compound annual growth rate (CAGR) favors APO at 30.9% vs BX's 18.0% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | -10.8% | -21.1% |
| 1-Year ReturnPast 12 months | -1.2% | -6.2% |
| 3-Year ReturnCumulative with dividends | +124.5% | +64.4% |
| 5-Year ReturnCumulative with dividends | +146.1% | +63.0% |
| 10-Year ReturnCumulative with dividends | +796.0% | +478.0% |
| CAGR (3Y)Annualised 3-year return | +30.9% | +18.0% |
Risk & Volatility
APO leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
APO is the less volatile stock with a 1.43 beta — it tends to amplify market swings less than BX's 1.53 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. APO currently trades 82.8% from its 52-week high vs BX's 64.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.43x | 1.53x |
| 52-Week HighHighest price in past year | $157.28 | $190.09 |
| 52-Week LowLowest price in past year | $99.56 | $101.73 |
| % of 52W HighCurrent price vs 52-week peak | +82.8% | +64.6% |
| RSI (14)Momentum oscillator 0–100 | 65.4 | 52.4 |
| Avg Volume (50D)Average daily shares traded | 5.3M | 7.3M |
Analyst Outlook
BX leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates APO as "Buy" and BX as "Buy". Consensus price targets imply 27.4% upside for BX (target: $156) vs 20.7% for APO (target: $157). For income investors, BX offers the higher dividend yield at 6.27% vs APO's 1.39%.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $157.25 | $156.29 |
| # AnalystsCovering analysts | 28 | 29 |
| Dividend YieldAnnual dividend ÷ price | +1.4% | +6.3% |
| Dividend StreakConsecutive years of raises | 2 | 2 |
| Dividend / ShareAnnual DPS | $1.81 | $7.70 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.2% | +0.3% |
APO leads in 4 of 6 categories (Valuation Metrics, Profitability & Efficiency). BX leads in 2 (Income & Cash Flow, Analyst Outlook).
APO vs BX: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is APO or BX a better buy right now?
For growth investors, Blackstone Inc.
(BX) is the stronger pick with 21. 6% revenue growth year-over-year, versus -20. 0% for Apollo Global Management, Inc. (APO). Apollo Global Management, Inc. (APO) offers the better valuation at 17. 8x trailing P/E (14. 7x forward), making it the more compelling value choice. Analysts rate Apollo Global Management, Inc. (APO) a "Buy" — based on 28 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — APO or BX?
On trailing P/E, Apollo Global Management, Inc.
(APO) is the cheapest at 17. 8x versus Blackstone Inc. at 31. 6x. On forward P/E, Apollo Global Management, Inc. is actually cheaper at 14. 7x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Blackstone Inc. wins at 0. 98x versus Apollo Global Management, Inc. 's 1. 01x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — APO or BX?
Over the past 5 years, Apollo Global Management, Inc.
(APO) delivered a total return of +146. 1%, compared to +63. 0% for Blackstone Inc. (BX). Over 10 years, the gap is even starker: APO returned +796. 0% versus BX's +478. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — APO or BX?
By beta (market sensitivity over 5 years), Apollo Global Management, Inc.
(APO) is the lower-risk stock at 1. 43β versus Blackstone Inc. 's 1. 53β — meaning BX is approximately 7% more volatile than APO relative to the S&P 500. On balance sheet safety, Apollo Global Management, Inc. (APO) carries a lower debt/equity ratio of 34% versus 61% for Blackstone Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — APO or BX?
By revenue growth (latest reported year), Blackstone Inc.
(BX) is pulling ahead at 21. 6% versus -20. 0% for Apollo Global Management, Inc. (APO). On earnings-per-share growth, the picture is similar: Blackstone Inc. grew EPS 7. 2% year-over-year, compared to -11. 5% for Apollo Global Management, Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — APO or BX?
Blackstone Inc.
(BX) is the more profitable company, earning 21. 8% net margin versus 16. 9% for Apollo Global Management, Inc. — meaning it keeps 21. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BX leads at 51. 9% versus 31. 8% for APO. At the gross margin level — before operating expenses — APO leads at 95. 6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is APO or BX more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.
By this metric, Blackstone Inc. (BX) is the more undervalued stock at a PEG of 0. 98x versus Apollo Global Management, Inc. 's 1. 01x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Apollo Global Management, Inc. (APO) trades at 14. 7x forward P/E versus 20. 6x for Blackstone Inc. — 5. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for BX: 27. 4% to $156. 29.
08Which pays a better dividend — APO or BX?
All stocks in this comparison pay dividends.
Blackstone Inc. (BX) offers the highest yield at 6. 3%, versus 1. 4% for Apollo Global Management, Inc. (APO).
09Is APO or BX better for a retirement portfolio?
For long-horizon retirement investors, Apollo Global Management, Inc.
(APO) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (1. 4% yield, +796. 0% 10Y return). Blackstone Inc. (BX) carries a higher beta of 1. 53 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (APO: +796. 0%, BX: +478. 0%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between APO and BX?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: APO is a mid-cap deep-value stock; BX is a mid-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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