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6Apr 29, 2026·SEC
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Apollo Commercial Real Estate Finance, Inc. (ARI) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Apollo Commercial Real Estate Finance, Inc. (ARI) stock price & volume — 10-year historical chart
Apollo Commercial Real Estate Finance, Inc. (ARI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Apollo Commercial Real Estate Finance, Inc. (ARI) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $0.22vs $0.29-24.1% | $59Mvs $78M-24.7% |
| Q1 2026 | Feb 10, 2026 | $0.26vs $0.27-3.7% | $73Mvs $70M+5.1% |
| Q4 2025 | Oct 30, 2025 | $0.30vs $0.25+21.4% | $167Mvs $49M+240.1% |
| Q3 2025 | Jul 29, 2025 | $0.26vs $0.26+0.0% | $187Mvs $50M+276.9% |
Apollo Commercial Real Estate Finance, Inc. (ARI) competitors in Commercial mortgage loan REITs — business model, growth, and fundamentals comparison
Apollo Commercial Real Estate Finance, Inc. (ARI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Apollo Commercial Real Estate Finance, Inc. (ARI) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 288.17M | 413.6M | 489.05M | 342.84M | 421.23M | 641.34M | 777M | 701.53M | 710.49M | 709.18M |
| Revenue Growth % | -2.89% | 43.53% | 18.24% | -29.9% | 22.86% | 52.26% | 21.15% | -9.71% | 1.28% | 7.28% |
| Property Operating Expenses | 31.65M | 36.42M | 40.73M | 39.75M | 63.37M | 92.19M | 127.23M | 141.14M | 141.72M | 239.62M |
| Net Operating Income (NOI) | 256.52M▲ 0% | 377.18M▲ 47.0% | 448.31M▲ 18.9% | 303.09M▼ 32.4% | 357.85M▲ 18.1% | 549.15M▲ 53.5% | 649.77M▲ 18.3% | 560.39M▼ 13.8% | 568.76M▲ 1.5% | 469.56M▲ 0% |
| NOI Margin % | 89.02% | 91.19% | 91.67% | 88.41% | 84.96% | 85.62% | 83.63% | 79.88% | 80.05% | 66.21% |
| Operating Expenses | 78.14M | 11.13M | 240.07M | 164.34M | -56.6M | -100.52M | 182.23M | 142.71M | 104.39M | 72.23M |
| G&A Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61.58M | 30.22M |
| EBITDA | 271.09M | 334.58M | 383.1M | 167.27M | 417.1M | 650.37M | 475.78M | 429.35M | 475.55M | 410.02M |
| EBITDA Margin % | 94.07% | 80.89% | 78.34% | 48.79% | 99.02% | 101.41% | 61.23% | 61.2% | 66.93% | 57.82% |
| Depreciation & Amortization | 0 | 0 | 0 | 0 | 2.65M | 704K | 8.25M | 11.67M | 11.17M | 12.7M |
| D&A / Revenue % | 0% | 0% | 0% | 0% | 0.63% | 0.11% | 1.06% | 1.66% | 1.57% | 1.79% |
| Operating Income | 178.38M▲ 0% | 366.05M▲ 105.2% | 208.24M▼ 43.1% | 138.75M▼ 33.4% | 414.45M▲ 198.7% | 649.66M▲ 56.8% | 467.54M▼ 28.0% | 417.69M▼ 10.7% | 464.37M▲ 11.2% | 397.32M▲ 0% |
| Operating Margin % | 61.9% | 88.5% | 42.58% | 40.47% | 98.39% | 101.3% | 60.17% | 59.54% | 65.36% | 56.03% |
| Interest Expense | 78.06M | 114.6M | 152.93M | 148.89M | 162.52M | 270.52M | 466.11M | 503.95M | 460.09M | 4M |
| Interest Coverage | 3.47x | 2.92x | 2.51x | 1.12x | 2.38x | 1.98x | 1.13x | 0.76x | 1.28x | - |
| Non-Operating Income | -92.71M | 31.47M | -174.86M | -28.52M | 28.42M | 113.91M | -57.14M | 32.98M | -122.77M | -81.02M |
| Pretax Income | 193.03M▲ 0% | 219.99M▲ 14.0% | 230.17M▲ 4.6% | 18.38M▼ 92.0% | 223.51M▲ 1116.3% | 265.23M▲ 18.7% | 58.57M▼ 77.9% | -119.24M▼ 303.6% | 127.05M▲ 206.5% | 127.4M▲ 0% |
| Pretax Margin % | 66.98% | 53.19% | 47.07% | 5.36% | 53.06% | 41.36% | 7.54% | -17% | 17.88% | 17.96% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 442K | 394K | 331K | 445K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0.75% | -0.33% | 0.26% | 0.35% |
| Net Income | 193.03M▲ 0% | 219.99M▲ 14.0% | 230.17M▲ 4.6% | 18.38M▼ 92.0% | 223.51M▲ 1116.3% | 265.23M▲ 18.7% | 58.13M▼ 78.1% | -119.64M▼ 305.8% | 126.72M▲ 205.9% | 126.96M▲ 0% |
| Net Margin % | 66.98% | 53.19% | 47.07% | 5.36% | 53.06% | 41.36% | 7.48% | -17.05% | 17.84% | 17.9% |
| Net Income Growth % | 22.27% | 13.96% | 4.63% | -92.02% | 1116.28% | 18.66% | -78.08% | -305.82% | 205.92% | 1066.98% |
| Funds From Operations (FFO) | 151.64M▲ 0% | 166.9M▲ 10.1% | 230.17M▲ 37.9% | -30.51M▼ 113.3% | 226.16M▲ 841.4% | 265.94M▲ 17.6% | 66.37M▼ 75.0% | -107.97M▼ 262.7% | 137.89M▲ 227.7% | 139.65M▲ 0% |
| FFO Margin % | 52.62% | 40.35% | 47.07% | -8.9% | 53.69% | 41.47% | 8.54% | -15.39% | 19.41% | 19.69% |
| FFO Growth % | -0.11% | 10.07% | - | - | 841.36% | 17.59% | -75.04% | -262.66% | 227.72% | 103.12% |
| FFO per Share | 1.50 | 1.09 | 1.31 | -0.21 | 1.34 | 1.61 | 0.47 | -0.77 | 0.99 | 1.00 |
| FFO Payout Ratio % | 121.26% | 136.14% | 116.97% | -779.36% | 88.28% | 75.42% | 304.36% | -172.23% | 102.45% | 75.8% |
| EPS (Diluted) | 1.51▲ 0% | 1.48▼ 2.0% | 1.40▼ 5.4% | 0.01▼ 99.3% | 1.46▲ 15268.4% | 1.68▲ 15.1% | 0.29▼ 82.7% | -0.97▼ 434.5% | 0.81▲ 183.5% | 0.91▲ 0% |
| EPS Growth % | -11.7% | -1.99% | -5.41% | -99.32% | - | 15.07% | -82.74% | -434.48% | 183.51% | 2766.67% |
| EPS (Basic) | 1.54 | 1.52 | 1.41 | 0.01 | 1.48 | 1.77 | 0.29 | -0.97 | 0.81 | - |
| Diluted Shares Outstanding | 101.23M | 153.82M | 175.79M | 148M | 168.4M | 165.5M | 141.28M | 139.67M | 138.87M | 139.71M |
Apollo Commercial Real Estate Finance, Inc. (ARI) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 4.09B | 5.1B | 6.89B | 6.94B | 8.42B | 9.57B | 9.3B | 8.41B | 9.9B | 10.09B |
| Asset Growth % | 17.39% | 24.63% | 35.18% | 0.75% | 21.28% | 13.68% | -2.84% | -9.52% | 17.71% | 43.04% |
| Real Estate & Other Assets | 3.99B | 4.93B | 6.4B | 6.57B | 7.86B | 8.85B | 8.45B | 7.22B | 8.8B | 0 |
| PP&E (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investment Securities | 0 | 1000K | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
| Total Current Assets | 100.77M | 143.21M | 487.86M | 366.06M | 384.32M | 287.41M | 297.79M | 375.87M | 210.66M | 126.85M |
| Cash & Equivalents | 77.67M | 109.81M | 452.28M | 325.5M | 343.11M | 222.03M | 225.44M | 317.4M | 139.82M | 126.85M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 2B | 2.59B | 4.26B | 4.67B | 6.12B | 7.21B | 7.09B | 6.54B | 8.04B | 8.28B |
| Total Debt | 1.92B | 2.47B | 4.13B | 4.55B | 6.01B | 6.97B | 6.95B | 6.39B | 7.92B | 0 |
| Net Debt | 1.84B | 2.36B | 3.68B | 4.23B | 5.67B | 6.75B | 6.73B | 6.07B | 7.78B | -126.85M |
| Long-Term Debt | 1.92B | 1.69B | 3.31B | 4.05B | 4.77B | 6.52B | 6.09B | 5.39B | 7.22B | 0 |
| Short-Term Borrowings | 0 | 779.4M | 812.98M | 501.64M | 1.24B | 451.63M | 864.18M | 1B | 701.11M | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 0 | 779.4M | 812.98M | 501.64M | 1.24B | 451.63M | 864.18M | 1B | 701.11M | 0 |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 84.72M | 114.55M | 130.49M | 115.73M | 112.38M | 243.58M | 133.17M | 146.91M | 126.86M | 8.28B |
| Total Equity | 2.09B▲ 0% | 2.51B▲ 20.2% | 2.63B▲ 4.8% | 2.27B▼ 13.7% | 2.29B▲ 1.1% | 2.35B▲ 2.6% | 2.21B▼ 6.2% | 1.87B▼ 15.1% | 1.86B▼ 1.0% | 1.81B▲ 0% |
| Equity Growth % | 8.07% | 20.19% | 4.79% | -13.67% | 1.06% | 2.61% | -6.19% | -15.13% | -0.98% | -11.49% |
| Shareholders Equity | 2.09B | 2.51B | 2.63B | 2.27B | 2.29B | 2.35B | 2.21B | 1.87B | 1.86B | 1.81B |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Common Stock | 1.07M | 1.34M | 1.53M | 1.39M | 1.4M | 1.41M | 1.41M | 1.38M | 1.39M | 1.37M |
| Additional Paid-in Capital | 2.17B | 2.64B | 2.83B | 2.71B | 2.72B | 2.72B | 2.73B | 2.7B | 2.7B | 0 |
| Retained Earnings | -83.14M | -130.17M | -196.94M | -438.72M | -427.88M | -363.88M | -520.24M | -822.67M | -849.68M | -861.27M |
| Preferred Stock | 137K | 137K | 68K | 68K | 68K | 68K | 68K | 68K | 68K | 68K |
| Return on Assets (ROA) | 5.1% | 4.79% | 3.84% | 0.27% | 2.91% | 2.95% | 0.62% | -1.35% | 1.38% | 1.29% |
| Return on Equity (ROE) | 9.6% | 9.57% | 8.96% | 0.75% | 9.79% | 11.41% | 2.55% | -5.86% | 6.79% | 6.88% |
| Debt / Assets | 46.86% | 48.5% | 59.93% | 65.62% | 71.4% | 72.85% | 74.81% | 75.97% | 79.97% | 0% |
| Debt / Equity | 0.92x | 0.98x | 1.57x | 2.01x | 2.62x | 2.96x | 3.15x | 3.41x | 4.27x | 4.27x |
| Net Debt / EBITDA | 6.78x | 7.06x | 9.59x | 25.28x | 13.59x | 10.38x | 14.14x | 14.14x | 16.36x | 16.36x |
| Book Value per Share | 20.63 | 16.32 | 14.96 | 15.34 | 13.63 | 14.23 | 15.63 | 13.42 | 13.37 | 12.97 |
Apollo Commercial Real Estate Finance, Inc. (ARI) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 154.87M | 265.96M | 273.44M | 164.05M | 199.38M | 267.7M | 273.86M | 200.26M | 142.52M | 142.52M |
| Operating CF Growth % | 30.28% | 71.73% | 2.81% | -40% | 21.54% | 34.27% | 2.3% | -26.88% | -28.83% | -158.52% |
| Operating CF / Revenue % | 53.74% | 64.3% | 55.91% | 47.85% | 47.33% | 41.74% | 35.25% | 28.55% | 20.06% | 20.1% |
| Net Income | 193.03M | 219.99M | 230.17M | 18.38M | 223.51M | 261.1M | 58.13M | -122.89M | 126.72M | 126.96M |
| Depreciation & Amortization | -41.39M | -53.08M | 0 | -48.88M | 2.65M | 704K | 8.25M | 11.67M | -15.88M | -22.95M |
| Stock-Based Compensation | 10.98M | 8.81M | 15.9M | 16.82M | 17.63M | 0 | 17.44M | 0 | 13.63M | 13.25M |
| Other Non-Cash Items | 6.67M | 75.65M | 26.15M | 136.06M | -50.68M | -67.38M | 190.5M | 373.26M | -8.76M | -29.02M |
| Working Capital Changes | -13.7M | -8.24M | 1.21M | -7.2M | 6.27M | 73.28M | -452K | -61.78M | 26.81M | 27.53M |
| Cash from Investing | -720.71M | -998.92M | -1.44B | -215.72M | -1.36B | -1.34B | 68.42M | 577.17M | -1.39B | -1.16B |
| Acquisitions (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 569K | 0 | 0 | 0 |
| Purchase of Investments | -927K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -6.04M | -3.66M |
| Sale of Investments | 492.67M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -1.21B | -998.92M | -1.44B | -215.72M | -1.36B | -1.31B | 140.48M | 746.67M | -1.28B | -1.08B |
| Cash from Financing | 380.06M | 765.09M | 1.5B | -75.12M | 1.18B | 957.97M | -343.36M | -689.31M | 1.06B | 798.63M |
| Dividends Paid | -219.68M | -254.56M | -291.21M | -251.29M | -212.61M | -212.85M | -214.29M | -198.22M | -153.55M | -115.06M |
| Common Dividends | -183.88M | -227.22M | -269.23M | -237.75M | -199.65M | -200.57M | -202.02M | -185.95M | -141.28M | -105.86M |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K |
| Share Repurchases | -116.99M | 0 | 0 | -127.99M | 0 | 0 | 0 | -40.81M | 0 | 0 |
| Other Financing | 147.65M | -15.82M | -19.02M | -17.61M | -28.34M | 141.37M | -19.07M | 144.47M | 64.72M | 53.23M |
| Net Change in Cash | -185.78M▲ 0% | 32.13M▲ 117.3% | 342.48M▲ 965.7% | -126.78M▼ 137.0% | 17.61M▲ 113.9% | -121.08M▼ 787.6% | 3.41M▲ 102.8% | 91.96M▲ 2598.3% | -177.57M▼ 293.1% | -26.6M▲ 0% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | -7.4M | 4.49M | 3.84M | 2.2M | 1.13M |
| Cash at Beginning | 263.45M | 77.67M | 109.81M | 452.28M | 325.5M | 343.11M | 222.03M | 225.44M | 317.4M | 0 |
| Cash at End | 77.67M | 109.81M | 452.28M | 325.5M | 343.11M | 222.03M | 225.44M | 317.4M | 139.82M | 0 |
| Free Cash Flow | 153.49M▲ 0% | 265.96M▲ 73.3% | 273.44M▲ 2.8% | 164.05M▼ 40.0% | 199.25M▲ 21.5% | 234.67M▲ 17.8% | 201.23M▼ 14.2% | 30.75M▼ 84.7% | 42.31M▲ 37.6% | 40.42M▲ 0% |
| FCF Growth % | 30.92% | 73.27% | 2.81% | -40% | 21.46% | 17.78% | -14.25% | -84.72% | 37.59% | 33.59% |
| FCF / Revenue % | 53.26% | 64.3% | 55.91% | 47.85% | 47.3% | 36.59% | 25.9% | 4.38% | 5.96% | 5.7% |
Apollo Commercial Real Estate Finance, Inc. (ARI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| FFO per Share | 1.5 | 1.09 | 1.31 | -0.21 | 1.34 | 1.61 | 0.47 | -0.77 | 0.99 | 1 |
| FFO Payout Ratio | 121.26% | 136.14% | 116.97% | -779.36% | 88.28% | 75.42% | 304.36% | -172.23% | 102.45% | 75.8% |
| NOI Margin | 89.02% | 91.19% | 91.67% | 88.41% | 84.96% | 85.62% | 83.63% | 79.88% | 80.05% | 66.21% |
| Net Debt / EBITDA | 6.78x | 7.06x | 9.59x | 25.28x | 13.59x | 10.38x | 14.14x | 14.14x | 16.36x | 16.36x |
| Debt / Assets | 46.86% | 48.5% | 59.93% | 65.62% | 71.4% | 72.85% | 74.81% | 75.97% | 79.97% | 0% |
| Interest Coverage | 3.47x | 2.92x | 2.51x | 1.12x | 2.38x | 1.98x | 1.13x | 0.76x | 1.28x | - |
| Book Value / Share | 20.63 | 16.32 | 14.96 | 15.34 | 13.63 | 14.23 | 15.63 | 13.42 | 13.37 | 12.97 |
| Revenue Growth | -2.89% | 43.53% | 18.24% | -29.9% | 22.86% | 52.26% | 21.15% | -9.71% | 1.28% | 7.28% |
Apollo Commercial Real Estate Finance, Inc. (ARI) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 29, 2026·SEC
Apr 24, 2026·SEC
Apr 22, 2026·SEC
Apollo Commercial Real Estate Finance, Inc. (ARI) stock FAQ — growth, dividends, profitability & financials explained
Apollo Commercial Real Estate Finance, Inc. (ARI) reported $709.2M in revenue for fiscal year 2025. This represents a 119090% increase from $0.6M in 2009.
Apollo Commercial Real Estate Finance, Inc. (ARI) grew revenue by 1.3% over the past year. Growth has been modest.
Yes, Apollo Commercial Real Estate Finance, Inc. (ARI) is profitable, generating $127.0M in net income for fiscal year 2025 (17.8% net margin).
Yes, Apollo Commercial Real Estate Finance, Inc. (ARI) pays a dividend with a yield of 9.29%. This makes it attractive for income-focused investors.
Apollo Commercial Real Estate Finance, Inc. (ARI) has a return on equity (ROE) of 6.8%. This is below average, suggesting room for improvement.
Apollo Commercial Real Estate Finance, Inc. (ARI) generated Funds From Operations (FFO) of $139.7M in the trailing twelve months. FFO is the primary profitability metric for REITs.
Apollo Commercial Real Estate Finance, Inc. (ARI) offers a 9.29% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.
Apollo Commercial Real Estate Finance, Inc. (ARI) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates