Overview
Apollo Global Management, Inc.
Latest 10-K: FY2025, filed Feb 25, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $32.05B
- 22.7%YoYup from FY2024
- TotalRevenue
- Gross profit
- Not reported
- Net income
- $3.49B
- 23.7%YoYdown from FY2024
- NetIncome
- Diluted EPS
- $5.54
- 24.4%YoYdown from FY2024
- EPSDiluted
- Diluted shares
- 593.7M
- 1.7%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- Apollo Global Management, Inc. reported revenue of $32.05B for fiscal 2025, up 22.7% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 4 of the last 5 fiscal years.
Profitability
- Net margin was 10.9%, against a median of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $5.54, down 24.4% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 30, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $32.05B22.7%up Benchmark median 6.4% | $26.11B20.0%down Benchmark median 4.5% | $32.64B197.6%up Benchmark median 4.8% | $10.97B84.3%up Benchmark median 10.3% | $5.95B152.8%up Benchmark median 13.8% | 52.3% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | — | — | — | — | — | — Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | — | — | — | — | — | — Benchmark median 7.2% |
| Net Income | $3.49B23.7%down Benchmark median 4.8% | $4.58B9.3%down Benchmark median 5.7% | $5.05Bn/m Benchmark median 1.9% | negative: -$1.96B206.6%down Benchmark median 1.3% | $1.84B1071.3%up Benchmark median 33.9% | 17.4% Benchmark median 4.1% |
| EPS (Diluted) | $5.5424.4%down Benchmark median 6.2% | $7.3311.5%down Benchmark median 7.9% | $8.28n/m Benchmark median 1.9% | negative: -$3.43‡n/m Benchmark median 1.5% | $7.321563.6%up Benchmark median 34.8% | n/m Benchmark median 5.6% |
‡ Share basis changed between these years (stock split or reverse split).
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $460.95B22.0%up Benchmark median 5.6% | $377.89B20.5%up Benchmark median 3.4% | $313.49B21.9%up Benchmark median 4.1% | $257.22B743.3%up Benchmark median 2.2% | $30.50B Benchmark median 6.7% | 97.2% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $418.43B20.6%up Benchmark median 6.4% | $346.92B20.4%up Benchmark median 1.9% | $288.24B19.2%up Benchmark median 2.9% | $241.82B1204.5%up Benchmark median 2.0% | $18.54B Benchmark median 5.2% | 118.0% Benchmark median 4.4% |
| Stockholders' Equity | $42.52B37.3%up Benchmark median 6.8% | $30.96B22.7%up Benchmark median 5.4% | $25.23B75.6%up Benchmark median 7.3% | $14.37B40.9%up Benchmark median 2.5% | $10.19B84.9%up Benchmark median 9.0% | 42.9% Benchmark median 6.1% |
| Cash & Equivalents | — | — | — | $8.98B879.3%up Benchmark median -8.6% | $0.92B41.1%down Benchmark median -2.9% | — Benchmark median 2.0% |
| Total Debt | $13.36B†26.2%up Benchmark median 2.1% | $10.59B†30.8%up Benchmark median 0.2% | $8.09B†25.0%up Benchmark median 0.3% | $6.47B†106.5%up Benchmark median 0.1% | $3.13B† Benchmark median -0.1% | 43.7% Benchmark median 4.3% |
† Sum of short-term and long-term debt; the company files no total-debt line.
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $7.25B122.7%up Benchmark median 6.3% | $3.25B48.5%down Benchmark median 4.8% | $6.32B66.9%up Benchmark median 9.9% | $3.79B256.1%up Benchmark median -0.7% | $1.06Bn/m Benchmark median 10.7% | 61.5% Benchmark median 7.0% |
| Capital Expenditures | — | — | — | — | — | — Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | — | — | — | — | — | — Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
3.8%
Wall Street
on net earnings
FY2024 4.4%
— Not reported
Value investor
on free cash flow
FY2024 — Not reported
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 26.1×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Book yield
Net assets behind a dollar of market value
49.5%
Wall Street
on book equity
FY2024 31.0%
42.6%
Value investor
on tangible book
FY2024 26.7%
Gap −6.9 pts: Value-investor figure 6.9 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 2.0×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
9.5%
Wall Street
ROE: net income ÷ equity
FY2024 16.3%
— Not reported
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 — Not reported
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on APO yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on APO and publish the result to your public profile.
Cite this page
Data as of Oct 30, 2026. Canonical address: https://valuein.biz/data/APO
Valuein. (2026, October 30). Apollo Global Management, Inc. (APO) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/APO
@misc{valuein_apo_2026,
author = {{Valuein}},
title = {Apollo Global Management, Inc. (APO) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/APO}},
note = {Data as of 2026-10-30; source: SEC EDGAR filings}
}10-K filed Feb 25, 2026 · accession 0001858681-26-000013
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point-in-time · survivorship-free · every number traceable to its SEC filing
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