Apollo Commercial Real Estate Finance, Inc. (ARI) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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ARI Revenue Growth
ARI Revenue Analysis (2014–2025)
As of May 8, 2026, Apollo Commercial Real Estate Finance, Inc. (ARI) generated trailing twelve-month (TTM) revenue of $709.2 million, reflecting slight decline in growth of -0.8% year-over-year. The most recent quarter (Q1 2026) recorded $172.6 million in revenue, down 5.6% sequentially.
Looking at the longer-term picture, ARI's 5-year compound annual growth rate (CAGR) stands at +15.7%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $777.0 million in 2023.
When compared to Real Estate sector peers including BXMT (-7.0% YoY), KREF (-20.0% YoY), and TRTX (+307.7% YoY), ARI has underperformed the peer group in terms of revenue growth. Compare ARI vs BXMT →
ARI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ARICurrent | $709M | -0.8% | +15.7% | 65.4% | |
 BXMT | $1.5B | -7.0% | +14.4% | 71.6% | |
 KREF | $458M | -20.0% | +11.2% | 59.3% | |
 TRTX | $333M | +307.7% | +32.7% | 73.0% | |
 GPMT | $145M | +249.6% | +6.7% | 43.6% | |
 RC | $499M | +1726.0% | +5.4% | 24.2% |
ARI Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $710.5M | +1.3% | $568.8M | 80.1% | $464.4M | 65.4% |
| 2024 | $701.5M | -9.7% | $560.4M | 79.9% | $417.7M | 59.5% |
| 2023 | $777.0M | +21.2% | $649.8M | 83.6% | $467.5M | 60.2% |
| 2022 | $641.3M | +52.3% | $549.1M | 85.6% | $649.7M | 101.3% |
| 2021 | $421.2M | +22.9% | $357.9M | 85.0% | $414.5M | 98.4% |
| 2020 | $342.8M | -29.9% | $303.1M | 88.4% | $138.7M | 40.5% |
| 2019 | $489.0M | +18.2% | $448.3M | 91.7% | $208.2M | 42.6% |
| 2018 | $413.6M | +43.5% | $377.2M | 91.2% | $366.1M | 88.5% |
| 2017 | $288.2M | -2.9% | $256.5M | 89.0% | $178.4M | 61.9% |
| 2016 | $296.8M | +50.7% | $273.4M | 92.1% | $157.5M | 53.1% |
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Start ComparisonARI — Frequently Asked Questions
Quick answers to the most common questions about buying ARI stock.
Is ARI's revenue growth accelerating or slowing?
ARI revenue growth slowed to -0.8%, below the 5-year CAGR of +15.7%. TTM revenue is $709M. The deceleration marks a shift from historical growth rates.
What is ARI's long-term revenue growth rate?
Apollo Commercial Real Estate Finance, Inc.'s 5-year revenue CAGR of +15.7% reflects the variable expansion pattern. Current YoY growth of -0.8% is near this long-term average.
How is ARI's revenue distributed by segment?
ARI reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.