GRAF vs APO vs BX vs KKR

For growth investors, Blackstone Inc.

(BX) is the stronger pick with 21. 6% revenue growth year-over-year, versus -11. 0% for KKR & Co. Inc. (KKR). Apollo Global Management, Inc. (APO) offers the better valuation at 18. 4x trailing P/E (15. 0x 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.

On trailing P/E, Apollo Global Management, Inc.

(APO) is the cheapest at 18. 4x versus KKR & Co. Inc. at 41. 1x. On forward P/E, Apollo Global Management, Inc. is actually cheaper at 15. 0x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Apollo Global Management, Inc. wins at 0. 20x versus Blackstone Inc. 's 1. 00x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, Apollo Global Management, Inc.

(APO) delivered a total return of +148. 7%, compared to +50. 2% for Blackstone Inc. (BX). Over 10 years, the gap is even starker: APO returned +867. 6% versus GRAF's +14. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Graf Global Corp.

(GRAF) is the lower-risk stock at -0. 03β versus KKR & Co. Inc. 's 1. 58β — meaning KKR is approximately -5560% more volatile than GRAF relative to the S&P 500. On balance sheet safety, Apollo Global Management, Inc. (APO) carries a lower debt/equity ratio of 31% versus 67% for KKR & Co. Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Blackstone Inc.

(BX) is pulling ahead at 21. 6% versus -11. 0% for KKR & Co. Inc. (KKR). On earnings-per-share growth, the picture is similar: Blackstone Inc. grew EPS 7. 2% year-over-year, compared to -36. 4% for Graf Global Corp.. 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.

Blackstone Inc.

(BX) is the more profitable company, earning 21. 8% net margin versus 0. 0% for Graf Global Corp. — 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 0. 0% for GRAF. At the gross margin level — before operating expenses — APO leads at 88. 5%, 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.

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, Apollo Global Management, Inc. (APO) is the more undervalued stock at a PEG of 0. 20x versus Blackstone Inc. 's 1. 00x. 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 15. 0x forward P/E versus 20. 9x for Blackstone Inc. — 5. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for KKR: 46. 7% to $141. 14.

In this comparison, BX (6.

3% yield), APO (1. 6% yield), KKR (0. 8% yield) pay a dividend. GRAF does not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, Graf Global Corp.

(GRAF) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0. 03)). Both have compounded well over 10 years (GRAF: +14. 1%, BX: +501. 2%), 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.

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: GRAF is a small-cap quality compounder stock; APO is a mid-cap high-growth stock; BX is a mid-cap high-growth stock; KKR is a mid-cap quality compounder stock. APO, BX, KKR pay a dividend while GRAF does not, making them suitable for different income and tax situations. 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.