Logo

APO-PA

Apollo Global Management, Inc.

APO-PA

Apollo Global Management, Inc. • NYSE
$69.18 ▲ 0.35% (+0.24)
Market Cap $40.15 B
52w High $98.95
52w Low $56.89
Dividend Yield 3.38%
P/E 8.31
Volume 13.07K
Outstanding Shares 580.42M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $9.823B ▲ $6.275B ▲ $1.736B ▲ 17.673% ▲ $2.91 ▲ $3.393B ▲
Q2-2025 $6.814B ▲ $5.036B ▲ $630M ▲ 9.246% ▲ $1.03 ▲ $1.256B ▼
Q1-2025 $5.548B ▲ $3.689B ▲ $425M ▼ 7.66% ▼ $0.68 ▼ $1.57B ▼
Q4-2024 $5.283B ▼ $3.072B ▼ $1.439B ▲ 27.238% ▲ $2.42 ▲ $2.112B ▼
Q3-2024 $7.773B $5.226B $782M 10.06% $1.29 $2.449B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $245.964B ▲ $449.543B ▲ $409.746B ▲ $23.137B ▲
Q2-2025 $231.466B ▲ $419.55B ▲ $385.689B ▲ $19.321B ▲
Q1-2025 $216.431B ▲ $395.045B ▲ $362.701B ▲ $17.976B ▲
Q4-2024 $205.98B ▲ $377.895B ▲ $346.915B ▲ $17.253B ▼
Q3-2024 $205.015B $368.689B $337.148B $17.863B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.461B ▲ $303M ▼ $-13.237B ▲ $19.164B ▲ $6.23B ▲ $303M ▼
Q2-2025 $842M ▼ $1.262B ▲ $-19.629B ▼ $17.815B ▲ $-542M ▲ $1.262B ▲
Q1-2025 $938M ▼ $1.012B ▲ $-16.888B ▼ $14.274B ▼ $-1.599B ▼ $1.012B ▲
Q4-2024 $1.662B ▼ $-4M ▼ $-16.25B ▼ $15.745B ▲ $-515M ▼ $-4M ▼
Q3-2024 $1.769B $1.854B $-14.466B $12.251B $-356M $1.854B

Revenue by Products

Product Q3-2021Q1-2025Q2-2025Q3-2025
Asset Management Segment
Asset Management Segment
 $0 ▲$0 ▲$1.11Bn ▲$1.49Bn ▲
Retirement Services Segment
Retirement Services Segment
 $0 ▲$0 ▲$5.71Bn ▲$8.34Bn ▲
Asset Management
Asset Management
 $470.00M ▲$510.00M ▲$0 ▼$0 ▲
Investment Advice
Investment Advice
 $70.00M ▲$200.00M ▲$0 ▼$0 ▲
Management Service Incentive
Management Service Incentive
 $0 ▲$40.00M ▲$0 ▼$0 ▲
Fee Related
Fee Related
 $550.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Apollo’s income statement shows a business that has grown very quickly, but with some bumps along the way. Revenue has expanded dramatically over the last few years as the firm scaled its asset management and retirement platforms. Profitability dipped into a loss in 2022, likely reflecting market volatility and investment marks, but margins have recovered strongly since then. Recent years show solid operating and net profits, though the year‑to‑year swings highlight that results can be lumpy and closely tied to market conditions and deal activity rather than smooth, predictable growth.

Balance Sheet

Balance Sheet The balance sheet has transformed from a relatively modest base into a very large platform, mainly due to the integration of Athene and expansion in credit and retirement-related assets. Total assets have grown many times over, while shareholders’ equity has steadily increased, indicating a stronger capital base and more financial resilience. Debt levels have risen in absolute terms but appear manageable relative to the much larger asset base, suggesting the firm is using leverage, but not excessively so given its size. Overall, the balance sheet looks like that of a major global player with substantial resources and staying power, but also added complexity.

Cash Flow

Cash Flow Cash generation has improved meaningfully over time. After a weak period earlier in the five‑year window, operating cash flow has been consistently positive in recent years, showing that the core business is throwing off cash. Free cash flow tracks operating cash flow closely, because Apollo is not very capital‑intensive and spends relatively little on physical assets. That said, cash flows can still fluctuate with investment performance and timing of transactions, so they should be viewed as solid on average but not perfectly stable year to year.

Competitive Edge

Competitive Edge Apollo holds a strong competitive position in global alternative asset management. Its strengths include a diversified platform across private equity, credit, and real assets; a deep pipeline of retirement-related capital through Athene; and a very large pool of undeployed capital that lets it move quickly when markets dislocate. The close integration with Athene gives Apollo a steady source of long‑term capital that many rivals are trying to copy. Partnerships with major banks and institutional investors deepen its reach. Key risks to its position include intense competition from other large managers, regulatory scrutiny, and the need to continually find attractive investments at scale.

Innovation and R&D

Innovation and R&D While financial firms do not have traditional R&D labs, Apollo is leaning heavily into innovation. It uses artificial intelligence and data analytics to support investment decisions, risk management, and compliance, which can sharpen its edge in a competitive industry. Strategically, it is pushing into digital infrastructure, such as data centers that support cloud and AI growth, and building platforms like Atlas SP in securitized credit to tap new pools of financing. The firm is also innovating in private credit and retirement products, often designing tailored, complex solutions for clients. The opportunity is significant, but it comes with execution risk and reliance on favorable long‑term demand for these newer areas.

Summary

Overall, Apollo Global Management appears as a large, fast‑growing, and increasingly diversified alternative asset manager, anchored by its integration with Athene and expansion into private credit and digital infrastructure. Its income statement and cash flows show substantial growth alongside notable volatility, which is typical for a firm tied closely to market conditions and investment performance. The balance sheet is much stronger and larger than it was a few years ago, with growing equity and sizeable but manageable leverage. Competitively, Apollo benefits from scale, permanent capital, and differentiated platforms like Atlas SP, but must navigate competitive pressure, market cycles, and regulatory complexity. The firm’s embrace of technology, AI infrastructure, and innovative financing solutions positions it well for evolving financial markets, while also increasing the importance of prudent risk management and careful execution.