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APOApollo Global Management, Inc.
$124.15$71.5B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
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P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
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APO logo

Apollo Global Management, Inc.

APO
NYSE · Global Asset Management
$124.15
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$71.51B
P/E17.1x
52W High$153.29
Volume3.02M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Insurance Balance Sheet Drives Revenue Volatility and Valuation Complexity

Apollo's fundamental outlook is defined by the transformative growth of its insurance subsidiary, Athene, which now drives substantial revenue but introduces significant accounting volatility. The 77.7% year-over-year surge in NII to $5.7B in Q2 2026, followin...

GrowthAccelerating
ProfitabilityModerate
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

APO price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

7/12 Beats

EPS beat 7 of last 12 quarters

02

Valuation risk

-43% Peers

P/E is 43% below peer median

03

Market leadership

RS 56 · Avg

Average momentum (RS Rating: 56)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Nov 4
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Apollo's Q2 2026 revenue of $11.2B, driven by $5.7B in NII and $5.4B in non-interest income, demonstrates the scale of the insurance balance sheet, but the erratic efficiency ratio—swinging from 17.2% in Q4 2025 to 94.8% in Q1 2026—highlights how non-recurring items obscure core operational performance.

Analyst Consensus+16.8% target
Buy(28 analysts)
23 Buy5 Hold0 Sell

The Bull Case

Upside Catalysts

Robust Earnings and Shareholder Returns

Apollo recently beat earnings expectations with an EPS of $2.47. The firm has compounded shareholder returns at a 24% annualized rate over 15 years, and its three‑year net income CAGR of 53.74% places it in the top 25% of the industry.

Aggressive Capital Deployment and Strategic Acquisitions

Apollo is actively pursuing growth through acquisitions in aviation and equipment finance, and it has deployed capital aggressively during market dislocations. The recent exit from its stake in Intel’s Ireland chip factory returned capital that can be redeployed into retirement solutions and private credit.

Growth via Retirement Solutions Expansion

Apollo is pushing into retirement solutions, positioning itself to benefit from policy changes that allow retirement accounts to hold alternative assets. This expansion is viewed as a key growth catalyst for the firm.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
APO-14.20%
S&P 500 (^GSPC)+13.20%
1-Year Return
APO-12.27%
S&P 500 (^GSPC)+15.98%
3-Year Return
APO+43.18%
S&P 500 (^GSPC)+74.22%
5-Year Return
APO+124.52%
S&P 500 (^GSPC)+70.66%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
17.1x
Forward P/EExpansion
14.2x
EV/EBITDA0th %ile
5.7x
FCF YieldCash Flow
10.4%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
17.1x
19.9x
50th· Fair
EV/EBITDA
5.7x
10.0x
0th· Low
Price/FCF
9.6x
11.8x
20th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$112.91-9.1%
Base (Fair)$130.58+3.7%
Bull$148.76+19.8%
$112.91 Bear$130.58 Base$148.76 Bull
Current Market Price: $124.15
Trades at a 4.9% discount to Base DCF ($130.58)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$29.97B+15.8% YoY
Net income
$4.48B+1.2% YoY
Free cash flow
$7.45B+129.1% YoY
Operating margin
34.8%+2.7 pts YoY
ROIC (TTM)16%
Avg ROIC 5Y-
ROE (TTM)12.2%
Piotroski Score3 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate7/12 (58%)
Revenue Beat Rate9/12 (75%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 4, 2026
$2.11-2.3%
vs $2.16
$11.2B+97.4%
vs $5.6B
Q2 2026
May 6, 2026
$1.94+2.6%
vs $1.89
$5.1B-2.5%
vs $5.2B
Q1 2026
Feb 9, 2026
$2.47+21.1%
vs $2.04
$9.9B+106.7%
vs $4.8B
Q4 2025
Nov 4, 2025
$2.14+12.6%
vs $1.90
$9.8B+99.6%
vs $4.9B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
GlobeNewsWire·6d ago
Apollo Provides $1.25 Billion Capital Solution to Support Combination of BMG and Concord

Apollo Receives Minority Interest in Part of BMG's Music Rights Portfolio; Equity Capital Enables BMG to Partially Repay Outstanding ABS Liabilities NEW YORK, Sept. 17, 2026 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that Apollo-managed funds and affiliates have provided a $1.25 billion equity capital solution to support the recently completed combination of BMG and Concord, bringing together two highly complementary businesses spanning music publishing, recorded music, theatrical rights and digital distribution.

GlobeNewsWire·6d ago
Daiwa House to Acquire a Significant Minority Stake in Miller Homes from Apollo Funds

Strategic investment by a global construction and real estate partner to support continued growth of leading UK housebuilder

CNBC·Sep 16, 2026
House votes to hold Leon Black in contempt of Congress over Epstein subpoenas defiance

The House of Representatives voted to hold former Apollo Global Management CEO Leon Black in contempt of Congress for his refusal to comply with subpoenas +issued by a committee investigating convicted sex offender Jeffrey Epstein. The vote sets the stage for House Speaker Mike Johnson to certify the matter and refer Black's conduct to the Department of Justice for possible criminal prosecution.

CNBC·Sep 16, 2026
Hyperscaler debt signals warning sign, Apollo cautions

Private equity firm Apollo Global warned Wednesday that credit default swaps for hyperscaler debt show that the bonds have grown more risky. The warning follows calls from frontier model companies to slow down the rate of technical advancements amid safety concerns.

Filtered for Apollo Global Management, Inc.More Headlines
04

Compare before deciding

Benchmark APO against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Apollo Global Management, Inc. (APO)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
APO logoAPOApollo Global Management, Inc.Current
$124.15$71.51B17.1015.78%14.95%12.19%1.72%
BX logoBXBlackstone Inc.
$124.01$97.69B31.9621.87%22.69%16.16%—
KKR logoKKRKKR & Co. Inc.
$98.44$88.39B42.07-7.47%18%3.96%—
CG logoCGThe Carlyle Group Inc.
$40.23$14.48B18.4540.31%10%5.11%—
TPG logoTPGTPG Inc.
$45.62$17.49B37.7079.63%4.68%4.88%—
ARES logoARESAres Management Corporation
$124.72$40.96B63.6396.21%9.97%7.43%—

Compare APO vs Peers

Apollo Global Management, Inc. (APO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs BX

Most directly comparable listed peer for APO.

Scale Benchmark

vs MS

Larger-name benchmark to compare APO against a more recognizable public peer.

Peer Set

Compare Top 5

vs BX, KKR, CG, TPG

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

APO SEC Filings & Documents

Apollo Global Management, Inc. (APO) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 24, 2026·SEC

Material company update

Aug 13, 2026·SEC

Material company update

Aug 11, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 24, 2025·SEC

10-Q Quarterly Reports

5
FY 2026

Aug 10, 2026·SEC

FY 2026

May 7, 2026·SEC

FY 2025

Nov 10, 2025·SEC

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APO Frequently Asked Questions

Apollo Global Management, Inc. (APO) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is Apollo Global Management, Inc. growing?

Apollo Global Management, Inc. (APO) grew revenue by 15.8% over the past year. This is strong growth.

Is APO profitable?

Yes, Apollo Global Management, Inc. (APO) is profitable, generating $2.88B in net income for fiscal year 2025 (15.0% net margin).

Dividend & Returns
Does APO pay dividends?

Yes, Apollo Global Management, Inc. (APO) pays a dividend with a yield of 1.72%. This makes it attractive for income-focused investors.

What is APO's return on equity?

Apollo Global Management, Inc. (APO) has a return on equity (ROE) of 12.2%. This is reasonable for most industries.

Industry Metrics
What is Apollo Global Management, Inc.'s net interest margin?

Apollo Global Management, Inc. (APO) has a net interest margin (NIM) of -0.1%. NIM has been under pressure due to interest rate environment.

What is Apollo Global Management, Inc.'s efficiency ratio?

Apollo Global Management, Inc. (APO) has an efficiency ratio of 54.7%. This is excellent, indicating strong cost control.

What if you invested $1,000 in APO back in 2006?

Total return calculator · dividends reinvested · 20+ years of data

See returns →