Apollo Global Management, Inc. (APO) 10-Year Financial Performance & Capital Metrics

APO • • Banking & Credit

Financial ServicesGlobal Asset ManagementAlternative Asset ManagementGlobal Alternative Investment Platforms

AboutApollo Global Management, Inc. is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions. The firm provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients. It also manages real estate funds and private equity funds for its clients. The firm invests in the fixed income and alternative investment markets across the globe. Its fixed income investments include income-oriented senior loans, bonds, collateralized loan obligations, structured credit, opportunistic credit, non-performing loans, distressed debt, mezzanine debt, and value oriented fixed income securities. The firm seeks to invest in chemicals, commodities, consumer and retail, oil and gas, metals, mining, agriculture, commodities, distribution and transportation, financial and business services, manufacturing and industrial, media distribution, cable, entertainment and leisure, telecom, technology, natural resources, energy, packaging and materials, and satellite and wireless industries. It seeks to invest in companies based in across Africa, North America with a focus on United States, and Europe. The firm also makes investments outside North America, primarily in Western Europe and Asia. It employs a combination of contrarian, value, and distressed strategies to make its investments. The firm seeks to make investments in the range of $10 million and $1500 million. The firm seeks to invest in companies with Enterprise value between $750 million to $2500 million. The firm conducts an in-house research to create its investment portfolio. It seeks to acquire minority and majority positions in its portfolio companies. Apollo Global Management, Inc. was founded in 1990 and is headquartered in New York, New York with additional offices in North America, Asia and Europe.Show more

Net Interest Income -$54M +34.1%
Total Revenue $26.11B -20.0%
Net Income $4.43B -9.3%
Return on Equity 15.74% -34.5%
Net Interest Margin -0.01% +45.4%
Efficiency Ratio 63.85% -18.2%
ROA 1.28% -25.2%
Equity / Assets 8.2% +1.8%
Book Value per Share 51.29 +19.6%
Tangible BV/Share 44.12 +24.2%
Debt/Equity 0.34 +6.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 40.5%
✓Diversified revenue: 99.3% from non-interest income

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Weak NIM of -0.0%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y32.55%

5Y54.86%

3Y63.72%

TTM-

Profit (Net Income) CAGR

10Y38.68%

5Y40.52%

3Y34.01%

TTM-26.36%

EPS CAGR

10Y28.02%

5Y14.59%

3Y0.05%

TTM-28.21%

ROCE

10Y Avg11.21%

5Y Avg4.18%

3Y Avg2.17%

Latest8.08%

Peer Comparison

Global Alternative Investment Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
APOApollo Global Management, Inc.	83.67B	144.15	19.67	-20%	16.95%	10.63%	3.89%	0.34

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	-26.84M	-39.41M	-46.45M	-17.53M	-62.03M	59M	-161M	230M	-82M	-54M
NII Growth %	-1.24%	-0.47%	-0.18%	0.62%	-2.54%	1.95%	-3.73%	2.43%	-1.36%	0.34%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	3.23M	4.07M	6.42M	56.27M	64.75M	440M	746M	354M	176M	172M
Interest Expense	30.07M	43.48M	52.87M	90.67M	126.78M	381M	907M	124M	258M	226M
Loan Loss Provision	507.36M	805.71M	982.53M	368.93M	387.73M	247M	-129M	803M	769M	914M
Non-Interest Income+	1.04B	2.07B	2.77B	1.04B	2.87B	1.91B	5.21B	10.61B	32.47B	25.94B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	1.04B	2.07B	2.77B	1.09B	2.93B	2.35B	5.95B	10.97B	32.64B	26.11B
Revenue Growth %	-0.33%	0.99%	0.34%	-0.61%	1.68%	-0.2%	1.53%	0.84%	1.98%	-0.2%
Non-Interest Expense	255.06M	247M	257.86M	381.84M	1.08B	818M	3.2B	14.42B	25.47B	16.68B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	249.18M	977.38M	1.48B	251.62M	1.34B	908M	1.98B	-4.38B	6.15B	8.3B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.55%	2.92%	0.51%	-0.83%	4.33%	-0.32%	1.18%	-3.21%	2.4%	0.35%
Pretax Income+	377.23M	1.06B	1.77B	105.27M	1.41B	553M	4.86B	-4.25B	5.59B	7.43B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	26.73M	90.71M	325.94M	86.02M	-128.99M	86M	594M	-739M	-923M	1.06B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	106M	388.02M	608.45M	-28.5M	807.96M	157M	1.84B	-1.96B	4.88B	4.43B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.37%	2.66%	0.57%	-1.05%	29.35%	-0.81%	10.71%	-2.07%	3.49%	-0.09%
Net Income (Continuing)	350.5M	970.31M	1.44B	19.25M	1.54B	467M	4.27B	-3.51B	6.51B	6.37B
EPS (Diluted)+	0.61	2.11	3.10	-0.30	3.71	0.44	7.32	-3.43	8.28	7.33
EPS Growth %	-0.02%	2.46%	0.47%	-1.1%	13.33%	-0.88%	15.64%	-1.47%	3.41%	-0.11%
EPS (Basic)	0.61	2.11	3.12	-0.30	3.72	0.44	7.32	-3.43	8.32	7.39
Diluted Shares Outstanding	173.27M	184M	192.58M	199.95M	208.75M	227.53M	236.57M	584.69M	588.85M	604.04M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	674.12M	854.98M	479.54M	659.42M	1.6B	2.45B	1.38B	9.45B	15.93B	16.17B
Short Term Investments	0	0	1000K	0	0	0	0	1000K	1000K	1000K
Total Investments+	2.07B	2.41B	5.49B	4.29B	5.38B	19.13B	26.09B	216.79B	261.02B	315.33B
Investments Growth %	-0.89%	0.17%	1.28%	-0.22%	0.25%	2.56%	0.36%	7.31%	0.2%	0.21%
Long-Term Investments	2.07B	2.41B	5.12B	4.29B	5.38B	19.13B	26.09B	98.87B	106.7B	125.52B
Accounts Receivables	1000K	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	88.85M	88.85M	88.85M	88.85M	93.91M	116.96M	117M	4.32B	4.33B	4.33B
Intangible Assets	28.62M	22.72M	18.84M	18.9M	20.61M	23.59M	0	0	0	0
PP&E (Net)	31.64M	25.15M	19.18M	19.99M	232.71M	375.13M	576.71M	877.14M	0	0
Other Assets	74.73M	56.45M	53.28M	158.71M	202.22M	461.99M	715.16M	18.64B	25.85B	32.35B
Total Current Assets	1.62B	2.46B	1.35B	1.11B	2.14B	3.02B	2.58B	133.87B	176.61B	215.7B
Total Non-Current Assets	2.94B	3.17B	5.64B	4.88B	6.4B	20.65B	27.92B	123.34B	136.88B	162.19B
Total Assets+	4.56B	5.63B	6.99B	5.99B	8.54B	23.67B	30.5B	257.22B	313.49B	377.89B
Asset Growth %	-0.8%	0.23%	0.24%	-0.14%	0.43%	1.77%	0.29%	7.43%	0.22%	0.21%
Return on Assets (ROA)	0.01%	0.08%	0.1%	-0%	0.11%	0.01%	0.07%	-0.01%	0.02%	0.01%
Accounts Payable	92.01M	57.47M	68.87M	70.88M	94.36M	119.98M	2.85B	2.98B	3.34B	3.62B
Total Debt+	1.83B	2.14B	2.36B	2.22B	3.71B	14.62B	14.19B	7.19B	8.09B	10.59B
Net Debt	1.15B	1.28B	1.52B	1.56B	2.11B	12.17B	12.81B	-2.27B	-7.84B	-5.58B
Long-Term Debt	1.3B	1.78B	1.99B	2.14B	3.45B	14.25B	13.65B	6.49B	8.06B	10.59B
Short-Term Debt	530.7M	362.07M	370.86M	71.36M	54.47M	40.53M	38M	35M	31M	0
Other Liabilities	6.33M	27.51M	223.35M	153.26M	270.07M	1.15B	275.79M	50.34B	63.74B	66.71B
Total Current Liabilities	1.69B	1.78B	1.75B	1.13B	1.49B	1.64B	4.11B	184.33B	216.44B	269.62B
Total Non-Current Liabilities	1.48B	1.98B	2.35B	2.41B	4.01B	15.73B	14.43B	57.49B	71.8B	77.3B
Total Liabilities	3.17B	3.76B	4.09B	3.54B	5.5B	17.37B	18.54B	241.82B	288.24B	346.92B
Total Equity+	1.39B	1.87B	2.9B	2.45B	3.04B	6.3B	11.96B	15.4B	25.25B	30.98B
Equity Growth %	-0.77%	0.34%	0.55%	-0.15%	0.24%	1.07%	0.9%	0.29%	0.64%	0.23%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.03%	0.24%	0.26%	-0.01%	0.29%	0.03%	0.2%	-0.14%	0.24%	0.16%
Book Value per Share	8.02	10.15	15.05	12.26	14.55	27.67	50.57	26.34	42.87	51.29
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	0	0	0	0	0	0	0	0	0	0
Additional Paid-in Capital	2.01B	1.83B	1.58B	1.3B	1.3B	877.17M	2.1B	14.98B	15.25B	15.33B
Retained Earnings	-1.35B	-986.19M	-379.46M	-473.28M	0	0	1.14B	-1.01B	2.97B	6.02B
Accumulated OCI	-7.62M	-8.72M	-1.81M	-4.16M	-4.58M	-2.07M	-5M	-7.33B	-5.58B	-5.49B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	264.4M	554.21M	554.21M	554.21M	554M	0	1.4B	1.4B

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	582.67M	615.26M	808.26M	814.26M	1.08B	-1.62B	1.06B	3.79B	6.32B	3.25B
Operating CF Growth %	2.56%	0.06%	0.31%	0.01%	0.33%	-2.49%	1.66%	2.56%	0.67%	-0.49%
Net Income	350.5M	970.31M	1.44B	19.25M	1.54B	466.8M	4.27B	-3.51B	4.88B	1.66B
Depreciation & Amortization	44.47M	18.73M	18.38M	15.23M	15.76M	18.83M	27.33M	529M	803M	1.07B
Deferred Taxes	26.43M	81.88M	314.13M	79.19M	-95.13M	23.62M	464.73M	107.59M	0	0
Other Non-Cash Items	-286.99M	-175.11M	-543.63M	933.28M	-753.1M	-2.03B	-5.84B	174.41M	-3.82B	-2.34B
Working Capital Changes	350.58M	-383.54M	-515.71M	-405.92M	188.67M	-308.05M	966.64M	5.95B	3.44B	2.14B
Cash from Investing+	-202.94M	-182.76M	-417.01M	-247.26M	-263.97M	-837.66M	-1.55B	-23.44B	-42.41B	-61.8B
Purchase of Investments	-25M	-46.88M	-376.52M	-554.65M	-556.58M	-2.44B	-5.15B	-63.89B	-55.97B	-125.63B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-234.38M	-224.95M	-153.31M	-268.93M	-186.99M	-168.51M	-366.78M	30.3B	0	0
Other Investing	37.65M	-7.35M	3.77M	118.48M	125.01M	210.87M	318.81M	-27.94B	13.56B	63.83B
Cash from Financing+	-968.08M	-236.16M	-453.63M	-752.18M	139.71M	3.3B	109M	28.71B	42.64B	57.97B
Dividends Paid	-433.3M	-239.11M	-380.24M	-438.52M	-471.93M	-586.19M	-553.96M	-962M	-1.03B	-1.19B
Share Repurchases	-3.12M	-13.38M	-18.46M	-90.91M	-110.73M	-92M	-299M	-635M	-561M	-890M
Stock Issued	0	0	0	0	0	0	1B	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	1000K	1000K	-1000K	1000K	1000K	-1000K	1000K	1000K	1000K
Other Financing	-610.52M	-315.37M	-429.28M	-423.68M	-591.52M	699.04M	594.96M	28.59B	41.7B	57.37B
Net Change in Cash+	-588.34M	196.34M	-62.39M	-185.19M	958.43M	845.22M	-378.2M	9.04B	6.56B	-579M
Exchange Rate Effect	0	0	0	0	0	0	0	-1000K	1000K	-1000K
Cash at Beginning	1.21B	617.32M	813.66M	848.06M	662.88M	1.62B	2.47B	2.09B	11.13B	17.69B
Cash at End	617.32M	813.66M	751.27M	662.88M	1.62B	2.47B	2.09B	11.13B	17.69B	17.11B
Interest Paid	49.84M	62.73M	70.52M	71.69M	96.11M	307M	556M	566M	720M	805M
Income Taxes Paid	7.92M	8.35M	13.62M	10.22M	42.84M	37M	121M	1.01B	358M	1.05B
Free Cash Flow+	576.47M	608.9M	799.73M	799.52M	1.04B	-1.68B	999.31M	3.59B	6.32B	3.25B
FCF Growth %	2.52%	0.06%	0.31%	-0%	0.3%	-2.61%	1.6%	2.59%	0.76%	-0.49%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	2.89%	23.83%	25.54%	-1.07%	29.43%	3.36%	20.14%	-14.33%	24.02%	15.74%
Return on Assets (ROA)	0.76%	7.62%	9.64%	-0.44%	11.12%	0.97%	6.79%	-1.36%	1.71%	1.28%
Net Interest Margin	-0.59%	-0.7%	-0.66%	-0.29%	-0.73%	0.25%	-0.53%	0.09%	-0.03%	-0.01%
Efficiency Ratio	24.49%	11.91%	9.3%	34.93%	36.73%	34.75%	53.72%	131.44%	78.03%	63.85%
Equity / Assets	30.46%	33.17%	41.45%	40.92%	35.57%	26.6%	39.22%	5.99%	8.05%	8.2%
Book Value / Share	8.02	10.15	15.05	12.26	14.55	27.67	50.57	26.34	42.87	51.29
NII Growth	-123.64%	-46.84%	-17.87%	62.26%	-253.87%	195.11%	-372.88%	242.86%	-135.65%	34.15%
Dividend Payout	334.37%	61.62%	60.27%	-	53.87%	350.32%	28.11%	-	20.73%	24.67%

Revenue by Segment

	2020	2022	2023	2024
Retirement Services	-	8.2B	29.14B	21.94B
Retirement Services Growth	-	-	255.37%	-24.71%
Asset Management	2.35B	2.77B	3.51B	4.18B
Asset Management Growth	-	17.63%	26.65%	19.08%

Revenue by Geography

	2020	2022	2023	2024
Private Equity	631.2M	-	-	-
Private Equity Growth	-	-	-	-

Frequently Asked Questions

Valuation & Price

Apollo Global Management, Inc. (APO) has a price-to-earnings (P/E) ratio of 19.7x. This is roughly in line with market averages.

Growth & Financials

Apollo Global Management, Inc. (APO) saw revenue decline by 20.0% over the past year.

Yes, Apollo Global Management, Inc. (APO) is profitable, generating $4.23B in net income for fiscal year 2024 (16.9% net margin).

Dividend & Returns

Yes, Apollo Global Management, Inc. (APO) pays a dividend with a yield of 1.25%. This makes it attractive for income-focused investors.

Apollo Global Management, Inc. (APO) has a return on equity (ROE) of 15.7%. This is reasonable for most industries.

Industry Metrics

Apollo Global Management, Inc. (APO) has a net interest margin (NIM) of -0.0%. NIM has been under pressure due to interest rate environment.

Apollo Global Management, Inc. (APO) has an efficiency ratio of 63.9%. This is reasonable for a bank.

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