Last 47 quarters of trend data · Real Estate · Mortgage REITs
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 2.31 | 24.27 | 16.50 | 13.44 | 7.45 | 20.17 | 14.95 | 8.02 | — | 10.64 | — | 9.78 | 8.44 | — | 7.27 | — | 1.84 | 5.93 | 43.37 | 14.30 | 9.76 |
| — | +20.4% | +10.3% | +67.7% | — | +89.5% | — | -18.0% | — | — | — | — | +359.7% | — | -83.2% | — | -81.2% | -37.5% | +359.5% | +17.8% | +34.3% | |
| P/S Ratio | 1.16 | — | 2.14 | 1.84 | 2.12 | 1.80 | 1.91 | 1.53 | 4.14 | 1.60 | 1.84 | 1.93 | 1.67 | 2.99 | 1.69 | 2.20 | 1.60 | 3.14 | 4.29 | 4.15 | 5.78 |
| — | — | +11.8% | +20.3% | -48.8% | +12.6% | +3.7% | -20.6% | +147.5% | -46.4% | +8.9% | -12.5% | +4.4% | -4.8% | -60.5% | -46.9% | -72.3% | -56.4% | -23.4% | -23.6% | +80.1% | |
| P/B Ratio | 0.17 | 1.12 | 0.81 | 0.72 | 0.76 | 0.73 | 0.71 | 0.64 | 0.68 | 0.69 | 0.77 | 0.75 | 0.65 | 0.72 | 0.62 | 0.64 | 0.57 | 0.79 | 0.87 | 0.80 | 1.10 |
| — | +53.5% | +13.9% | +13.5% | +11.7% | +5.9% | -7.4% | -15.0% | +5.0% | -4.6% | +25.2% | +16.9% | +14.3% | -8.4% | -29.0% | -19.9% | -48.4% | -33.6% | -17.2% | +16.5% | +92.9% | |
| P/FCF | 6.97 | 7.52 | — | — | 48.77 | 10.96 | 23.01 | 80.83 | 138.04 | 35.09 | 26.44 | 76.77 | 5.45 | 11.75 | 3.77 | 12.31 | 3.26 | 9.01 | 9.85 | 13.36 | 14.44 |
| — | -31.4% | — | — | -64.7% | -68.8% | -13.0% | +5.3% | +2432.7% | +198.5% | +602.3% | +523.4% | +67.2% | +30.5% | -61.8% | -7.8% | -77.4% | +1.9% | -27.5% | +74.3% | +160.6% | |
| EV / EBITDA | 20.02 | 1.99 | 90.20 | 15.80 | 13.14 | 30.41 | 21.71 | 7.85 | — | 12.48 | 44.09 | 18.30 | 9.26 | 188.94 | 14.61 | 22.31 | 7.90 | 16.85 | 21.83 | 21.63 | 15.23 |
| — | -93.5% | +315.5% | +101.3% | — | +143.8% | -50.8% | -57.1% | — | -93.4% | +201.9% | -17.9% | +17.2% | +1021.1% | -33.1% | +3.1% | -48.2% | -13.2% | +18.3% | +7.6% | -5.0% | |
| EV / EBIT | 17.40 | 2.26 | 16.93 | 15.78 | 13.06 | 15.49 | 15.21 | 11.78 | 48.08 | 12.65 | 89.79 | 12.36 | 11.66 | 62.82 | 13.13 | 22.31 | 7.90 | 16.85 | 33.85 | 22.94 | 18.47 |
| — | -85.4% | +11.3% | +33.9% | -72.8% | +22.4% | -83.1% | -4.7% | +312.4% | -79.9% | +584.1% | -44.6% | +47.6% | +272.7% | -61.2% | -2.8% | -57.2% | -10.2% | +83.5% | +14.1% | +15.2% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 80.1% | 113.7% | 23.4% | 78.5% | 79.9% | 81.5% | 80.3% | 82.8% | 56.5% | 83.5% | 82.0% | 85.4% | 85.8% | 74.8% | 85.3% | 84.9% | 89.2% | 84.0% | 82.1% | 79.3% | 82.9% |
| — | +39.5% | -70.8% | -5.2% | +41.2% | -2.4% | -2.0% | -3.0% | -34.1% | +11.6% | -3.9% | +0.6% | -3.8% | -11.0% | +3.9% | +7.0% | +7.5% | -3.3% | -10.0% | -8.5% | -8.2% | |
| Operating Margin | 65.4% | -24.1% | 13.0% | 77.2% | 97.3% | 38.2% | 51.4% | 117.2% | -24.8% | 76.5% | 20.1% | 52.8% | 98.5% | 6.5% | 62.8% | -1.9% | 163.3% | 148.7% | 81.5% | 77.2% | 112.7% |
| — | -163.1% | -74.8% | -34.2% | +491.8% | -50.1% | +155.4% | +122.2% | -125.2% | +1072.8% | -67.9% | +2852.9% | -39.7% | -95.6% | -23.0% | -102.5% | +44.9% | +36.0% | -14.8% | +51.8% | +103.3% | |
| Net Margin | 17.8% | -9.9% | 15.2% | 16.0% | 30.4% | 11.1% | 14.9% | 20.8% | -119.2% | 16.7% | -48.8% | 21.6% | 21.5% | -62.3% | 22.9% | -2.3% | 85.9% | 49.7% | 13.4% | 33.4% | 55.1% |
| — | -188.8% | +1.7% | -23.1% | +125.5% | -33.3% | +130.7% | -3.9% | -654.4% | +126.7% | -313.1% | +1031.5% | -75.0% | -225.3% | +71.1% | -106.9% | +56.0% | -30.6% | -75.6% | -34.4% | +14.9% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.8% | 1.7% | 1.4% | 1.6% | 2.7% | 1.1% | 1.4% | 2.2% | -4.7% | 1.8% | -4.9% | 2.1% | 2.1% | -3.7% | 2.1% | -0.2% | 7.8% | 3.1% | 0.7% | 1.6% | 2.6% |
| — | +50.3% | +2.8% | -27.7% | +157.8% | -36.8% | +128.3% | +3.2% | -327.6% | +148.4% | -336.1% | +1357.8% | -73.4% | -216.6% | +210.4% | -110.4% | +197.9% | +5.9% | -73.9% | +0.9% | +24.6% | |
| ROA | 1.4% | 0.4% | 0.3% | 0.3% | 0.5% | 0.2% | 0.3% | 0.5% | -1.0% | 0.4% | -1.1% | 0.5% | 0.5% | -0.9% | 0.5% | -0.0% | 1.9% | 0.8% | 0.2% | 0.5% | 0.8% |
| — | +89.1% | -13.2% | -35.2% | +152.7% | -42.4% | +126.8% | -8.0% | -300.3% | +143.8% | -320.1% | +1327.3% | -73.7% | -214.4% | +190.0% | -108.9% | +145.1% | -13.4% | -78.5% | -13.0% | +8.6% | |
| ROIC | 4.0% | 0.9% | 0.2% | 1.1% | 1.3% | 0.6% | 0.8% | 2.1% | -0.2% | 1.4% | 0.4% | 1.0% | 1.8% | 0.1% | 1.1% | -0.0% | 2.9% | 1.8% | 0.8% | 0.8% | 1.2% |
| — | +55.4% | -78.9% | -45.2% | +912.0% | -57.0% | +124.6% | +111.9% | -108.9% | +1783.4% | -67.4% | +3676.4% | -37.0% | -96.0% | +31.3% | -103.2% | +132.3% | +69.3% | -26.1% | +96.8% | +84.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.27 | 0.30 | 4.50 | 4.27 | 4.04 | 4.23 | 3.66 | 3.41 | 3.81 | 3.56 | 3.43 | 3.15 | 3.04 | 3.15 | 2.96 | 2.96 | 2.92 | 3.10 | 2.86 | 2.62 | 2.30 |
| — | -93.0% | +22.9% | +25.1% | +6.1% | +18.8% | +6.9% | +8.3% | +25.2% | +13.3% | +15.6% | +6.4% | +4.3% | +1.6% | +3.7% | +13.0% | +26.9% | +28.2% | +34.2% | +30.6% | +18.1% | |
| Debt / EBITDA | 16.65 | 5.49 | 309.64 | 54.84 | 45.48 | 105.82 | 74.18 | 27.59 | — | 42.70 | 146.69 | 60.70 | 31.73 | 637.55 | 50.35 | 75.28 | 27.50 | 55.25 | 68.74 | 69.26 | 42.55 |
| — | -94.8% | +317.4% | +98.7% | — | +147.8% | -49.4% | -54.5% | — | -93.3% | +191.4% | -19.4% | +15.4% | +1054.0% | -26.8% | +8.7% | -35.4% | +3.5% | +33.4% | +9.6% | -20.7% | |
| Current Ratio | 0.30 | 2.43 | 0.03 | 0.30 | 0.39 | 0.13 | 0.18 | 0.37 | 0.22 | 0.20 | 0.35 | 0.34 | 0.40 | 1.04 | 1.71 | 0.64 | 0.50 | 0.27 | 0.34 | 0.31 | 0.18 |
| — | +1718.6% | -84.6% | -19.7% | +79.0% | -33.3% | -47.9% | +8.6% | -46.0% | -80.7% | -79.5% | -45.9% | -19.1% | +286.1% | +400.1% | +105.4% | +182.7% | +13.0% | -15.3% | -57.5% | -98.3% | |
| Quick Ratio | 0.30 | 2.43 | 0.03 | 0.30 | 0.39 | 0.13 | 0.18 | 0.37 | 0.22 | 0.20 | 0.35 | 0.34 | 0.40 | 1.04 | 1.71 | 0.64 | 0.50 | 0.27 | 0.34 | 0.31 | 0.18 |
| — | +1718.6% | -84.6% | -19.7% | +79.0% | -33.3% | -47.9% | +8.6% | -46.0% | -80.7% | -79.5% | -45.9% | -19.1% | +286.1% | +400.1% | +105.4% | +182.7% | +13.0% | -15.3% | -57.5% | -98.3% | |
| Interest Coverage | 1.28 | 1.77 | 1.23 | 1.25 | 1.44 | 1.17 | 1.25 | 1.36 | 0.32 | 1.28 | 0.18 | 1.38 | 1.38 | 0.28 | 1.47 | 0.96 | 3.53 | 2.26 | 1.34 | 1.83 | 2.42 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying ARI stock.
Apollo Commercial Real Estate Finance, Inc.'s current P/E is 2.3x. The average P/E over the last 4 quarters is 15.4x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Apollo Commercial Real Estate Finance, Inc.'s current operating margin is 65.4%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Apollo Commercial Real Estate Finance, Inc.'s business trajectory between earnings reports.