Apollo Global Management, Inc. (APO) Financial Ratios
19 years of historical data (2006–2024) · Financial Services · Asset Management - Global
EV/EBITDA
↓
7.30
↓-49% vs avg
5yr avg: 14.23
30Y Low4.9·High27.6
P/FCF
↑
22.74
↑+36% vs avg
5yr avg: 16.72
30Y Low2.0·High30.7
P/B Ratio
↑
2.54
+15% vs avg
5yr avg: 2.20
30Y Low0.4·High3.3
ROE
↑
15.7%
↓+61% vs avg
5yr avg: 9.8%
30Y Low-67%·High29%
Debt/EBITDA
↓
1.13
↓-82% vs avg
5yr avg: 6.29
30Y Low1.1·High25.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
APO Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Apollo Global Management, Inc. trades at 17.8x earnings, 54% below its 5-year average of 38.7x, sitting at the 64th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.3x, the stock trades at a premium of 33%. On a free-cash-flow basis, the stock trades at 22.7x P/FCF, 36% above the 5-year average of 16.7x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $74.0B | $99.8B | $54.9B | $37.3B | $17.1B | $11.1B | $10.0B | $4.9B | $6.4B | $3.6B | $2.6B |
| Enterprise Value | $68.4B | $94.2B | $47.0B | $35.0B | $29.9B | $23.3B | $12.1B | $6.5B | $8.0B | $4.8B | $3.8B |
| P/E Ratio → | 17.78 | 22.53 | 11.25 | — | 9.89 | 111.32 | 12.86 | — | 10.79 | 9.18 | 24.89 |
| P/S Ratio | 2.83 | 3.82 | 1.68 | 3.40 | 2.88 | 4.73 | 3.40 | 4.49 | 2.33 | 1.72 | 2.53 |
| P/B Ratio | 2.54 | 3.22 | 2.17 | 2.42 | 1.43 | 1.77 | 3.28 | 2.00 | 2.22 | 1.91 | 1.89 |
| P/FCF | 22.74 | 30.67 | 8.68 | 10.40 | 17.15 | — | 9.55 | 6.14 | 8.06 | 5.85 | 4.56 |
| P/OCF | 22.74 | 30.67 | 8.68 | 9.84 | 16.10 | — | 9.20 | 6.03 | 7.97 | 5.79 | 4.51 |
P/E links to full P/E history page with 30-year chart
APO EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Apollo Global Management, Inc.'s enterprise value stands at 7.3x EBITDA, 49% below its 5-year average of 14.2x. The Financial Services sector median is 11.4x, placing the stock at a 36% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.61 | 1.44 | 3.19 | 5.03 | 9.90 | 4.12 | 5.91 | 2.87 | 2.34 | 3.63 |
| EV / EBITDA | 7.30 | 10.05 | 6.77 | — | 14.95 | 25.15 | 8.90 | 24.22 | 5.32 | 4.87 | 12.88 |
| EV / EBIT | 8.24 | 12.12 | 8.05 | — | 5.19 | 24.96 | 7.86 | 32.99 | 4.37 | 4.39 | 9.29 |
| EV / FCF | — | 28.95 | 7.44 | 9.77 | 29.97 | — | 11.57 | 8.08 | 9.96 | 7.96 | 6.56 |
APO Profitability
Margins and return-on-capital ratios measuring operating efficiency
Apollo Global Management, Inc. earns an operating margin of 31.8%, above the Financial Services sector average of 21.4%. Operating margins have expanded from -39.9% to 31.8% over the past 3 years, signaling improving operational efficiency. ROE of 15.7% indicates solid capital efficiency, compared to the sector median of 9.5%. ROIC of 16.6% represents solid returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 95.6% | 95.6% | 96.9% | 91.5% | 86.9% | 73.3% | 82.5% | 58.0% | 62.6% | 59.0% | 48.4% |
| Operating Margin | 31.8% | 31.8% | 18.8% | -39.9% | 33.2% | 38.6% | 45.7% | 23.0% | 53.3% | 47.1% | 23.9% |
| Net Profit Margin | 16.9% | 16.9% | 15.0% | -17.9% | 30.9% | 6.7% | 27.6% | -2.6% | 22.0% | 18.7% | 10.2% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.7% | 15.7% | 24.0% | -14.3% | 20.1% | 3.4% | 29.4% | -1.1% | 25.5% | 23.8% | 2.9% |
| ROA | 1.3% | 1.3% | 1.7% | -1.4% | 6.8% | 1.0% | 11.1% | -0.4% | 9.6% | 7.6% | 0.8% |
| ROIC | 16.6% | 16.6% | 16.5% | -13.5% | 6.3% | 4.9% | 17.6% | 3.8% | 23.9% | 20.3% | 1.5% |
| ROCE | 8.1% | 8.1% | 7.2% | -8.8% | 8.2% | 6.2% | 22.5% | 5.0% | 32.5% | 29.1% | 2.1% |
APO Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Apollo Global Management, Inc. carries a Debt/EBITDA ratio of 1.1x, which is manageable (73% below the sector average of 4.1x). The company holds a net cash position — cash of $16.2B exceeds total debt of $10.6B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 36.7x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.34 | 0.34 | 0.32 | 0.47 | 1.19 | 2.32 | 1.22 | 0.90 | 0.82 | 1.15 | 1.32 |
| Debt / EBITDA | 1.13 | 1.13 | 1.16 | — | 7.09 | 15.77 | 2.74 | 8.30 | 1.58 | 2.15 | 6.22 |
| Net Debt / Equity | — | -0.18 | -0.31 | -0.15 | 1.07 | 1.93 | 0.69 | 0.63 | 0.52 | 0.69 | 0.83 |
| Net Debt / EBITDA | -0.60 | -0.60 | -1.13 | — | 6.40 | 13.13 | 1.55 | 5.83 | 1.02 | 1.29 | 3.92 |
| Debt / FCF | — | -1.71 | -1.24 | -0.63 | 12.82 | — | 2.02 | 1.95 | 1.90 | 2.11 | 2.00 |
| Interest Coverage | 36.72 | 36.72 | 23.82 | -35.28 | 2.18 | 2.38 | 10.57 | 2.78 | 27.96 | 22.48 | 8.29 |
Net cash position: cash ($16.2B) exceeds total debt ($10.6B)
APO Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.80x is below 1.0, meaning current liabilities exceed current assets — though the company's $16.2B cash position helps mitigate short-term liquidity concerns. The current ratio has improved from 0.73x to 0.80x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.80 | 0.80 | 0.82 | 0.73 | 0.63 | 1.84 | 1.43 | 0.98 | 0.77 | 1.38 | 0.96 |
| Quick Ratio | 0.80 | 0.80 | 0.82 | 0.73 | 0.63 | 1.84 | 1.43 | 0.98 | 0.77 | 1.38 | 0.96 |
| Cash Ratio | 0.06 | 0.06 | 0.07 | 0.05 | 0.34 | 1.49 | 1.07 | 0.58 | 0.27 | 0.48 | 0.40 |
| Asset Turnover | — | 0.07 | 0.10 | 0.04 | 0.20 | 0.10 | 0.34 | 0.18 | 0.40 | 0.37 | 0.23 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
APO Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Apollo Global Management, Inc. returns 2.6% to shareholders annually — split between a 1.4% dividend yield and 1.2% buyback yield. The payout ratio of 24.7% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 5.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.4% | 1.1% | 1.8% | 2.6% | 3.0% | 4.9% | 4.4% | 8.3% | 5.7% | 6.7% | 13.5% |
| Payout Ratio | 24.7% | 24.7% | 20.7% | — | 28.1% | 350.3% | 53.9% | — | 60.3% | 61.6% | 334.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.6% | 4.4% | 8.9% | — | 10.1% | 0.9% | 7.8% | — | 9.3% | 10.9% | 4.0% |
| FCF Yield | 4.4% | 3.3% | 11.5% | 9.6% | 5.8% | — | 10.5% | 16.3% | 12.4% | 17.1% | 21.9% |
| Buyback Yield | 1.2% | 0.9% | 1.0% | 1.7% | 1.7% | 0.8% | 1.1% | 1.9% | 0.3% | 0.4% | 0.1% |
| Total Shareholder Yield | 2.6% | 2.0% | 2.9% | 4.3% | 4.8% | 5.8% | 5.5% | 10.1% | 6.0% | 7.1% | 13.6% |
| Shares Outstanding | — | $604M | $589M | $585M | $237M | $228M | $209M | $200M | $193M | $184M | $173M |
Peer Comparison
Compare APO with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 APOYou | $74B | 17.8 | 7.3 | 22.7 | 95.6% | 31.8% | 15.7% | 16.6% | 1.1 |
 BX | $96B | 31.6 | 14.8 | 55.1 | 86.0% | 51.9% | 14.6% | 16.1% | 1.8 |
 KKR | $91B | 43.6 | 20.4 | 9.5 | 41.8% | 2.4% | 3.3% | 0.3% | 7.7 |
 CG | $18B | 18.5 | 16.4 | — | 83.2% | 34.1% | 16.8% | 6.8% | 6.0 |
 TPG | $17B | 37.7 | 22.3 | 17.4 | 96.9% | 14.7% | 4.8% | 9.3% | 2.1 |
 ARES | $40B | 62.7 | 26.9 | 26.1 | 74.8% | 27.2% | 6.8% | 6.1% | 7.4 |
 BAM | $81B | 37.8 | 29.4 | 129.6 | 71.0% | 69.4% | 80.9% | 71.0% | 0.1 |
 BN | $103B | 9999.0 | 8.5 | — | 40.0% | 39.9% | 0.8% | 5.6% | 6.4 |
 OWL | $17B | 89.6 | 20.2 | 14.0 | 55.4% | 21.9% | 1.3% | 5.0% | 3.8 |
 HLNE | $4B | 17.1 | 13.8 | 14.2 | 70.8% | 44.4% | 27.2% | 21.2% | 1.1 |
 EQT | $37B | 17.7 | 7.7 | 12.9 | 48.9% | 34.7% | 7.9% | 6.9% | 1.4 |
| Financial Services Median | — | 13.3 | 11.4 | 10.6 | 62.9% | 21.4% | 9.5% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonAPO — Frequently Asked Questions
Quick answers to the most common questions about buying APO stock.
What is Apollo Global Management, Inc.'s P/E ratio?
Apollo Global Management, Inc.'s current P/E ratio is 17.8x. The historical average is 24.3x. This places it at the 64th percentile of its historical range.
What is Apollo Global Management, Inc.'s EV/EBITDA?
Apollo Global Management, Inc.'s current EV/EBITDA is 7.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.6x.
What is Apollo Global Management, Inc.'s ROE?
Apollo Global Management, Inc.'s return on equity (ROE) is 15.7%. The historical average is 2.5%.
Is APO stock overvalued?
Based on historical data, Apollo Global Management, Inc. is trading at a P/E of 17.8x. This is at the 64th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Apollo Global Management, Inc.'s dividend yield?
Apollo Global Management, Inc.'s current dividend yield is 1.39% with a payout ratio of 24.7%.
What are Apollo Global Management, Inc.'s profit margins?
Apollo Global Management, Inc. has 95.6% gross margin and 31.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Apollo Global Management, Inc. have?
Apollo Global Management, Inc.'s Debt/EBITDA ratio is 1.1x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.