Business Description
Apollo Global Management, Inc. operates as a prominent investment management firm, primarily concentrating its efforts across credit, private equity, and real estate asset classes. Within its private equity division, Apollo engages in a broad spectrum of transactions, ranging from traditional management buyouts, recapitalizations, and distressed acquisitions to corporate carve-outs, growth capital infusions, turnaround financing, bridge loans, strategic acquisitions, and industry consolidation initiatives. This also includes debt investments in real estate and corporate partnerships, along with investments in distressed assets and special situations within the middle market. Its client base is diverse, encompassing sovereign wealth and endowment funds, as well as various other institutional and private investors. The firm constructs and oversees bespoke portfolios for clients and actively manages a suite of investment vehicles, including hedge funds, real estate funds, and private equity funds. Globally, Apollo also deploys capital in fixed income and alternative investment markets. Its fixed income strategies span a wide array, featuring income-oriented senior secured loans, corporate bonds, collateralized loan obligations (CLOs), structured credit products, opportunistic and non-performing loans, distressed debt, mezzanine financing, and other value-oriented fixed income instruments. Apollo seeks investment opportunities across numerous sectors, such as chemicals, energy (including oil, gas, natural resources), metals and mining, agriculture, consumer and retail, distribution and transportation, financial and business services, manufacturing and industrial, media (distribution, cable, entertainment), telecommunications, technology, packaging and materials, and satellite and wireless communications. Geographically, the firm targets investments in Africa, North America (with a strong emphasis on the United States), and Europe, while also making significant inroads into Western Europe and Asia. Its investment methodology combines contrarian insights with a rigorous focus on intrinsic value and distressed situations. Apollo typically commits equity capital ranging from $10 million to $1.5 billion per transaction, generally pursuing companies with an enterprise value between $750 million and $2.5 billion. Proprietary in-house research underpins its investment selection process. The firm is open to acquiring both minority and controlling stakes in its portfolio companies. Established in 1990 and headquartered in New York, New York, Apollo maintains additional offices across North America, Asia, and Europe to support its global operations.
Business History
Price History (1 Year)
Revenue & Net Income Trend
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
EPS (Diluted): 7.31
Total Equity: $23.34B
Shares: 607,913,669
Total Debt: $13.36B
Cash: $19.24B
EBITDA: $10.49B
Total Debt: $13.36B
Cash: $19.24B
Revenue: $30.30B
Revenue: $30.30B
Revenue: $30.30B
Total Equity: $23.34B
Tax Rate: 10.4%
Equity: $23.34B
Total Debt: $13.36B
Cash: $19.24B
Current Liabilities: $331.90B
Long-Term Debt: $13.36B
Total Debt: $13.36B
Total Equity: $23.34B
Shares: 607,913,669
Shares: 607,913,669
CapEx: $0.00
Shares: 607,913,669
Stock Price: $118.29
Net Income: $4.48B
Industry Benchmarks
Deep Analysis
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Income Statement (Annual)
Last updated: Jun 27, 2026 2:03am (8h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $6.0B | $11.0B | $32.6B | $26.1B | $30.3B |
| Cost of Revenue | $778.0M | $927.0M | $1.0B | $1.1B | $3.5B |
| Gross Profit | $5.2B | $10.0B | $31.6B | $25.0B | $26.8B |
| Operating Expenses | $3.2B | $14.4B | $25.5B | $16.7B | $16.4B |
| Operating Income | $2.0B | -$4.4B | $6.1B | $8.3B | $10.4B |
| Net Income | $1.8B | -$2.0B | $4.9B | $4.4B | $4.5B |
| EBITDA | $5.8B | -$3.5B | $6.6B | $8.8B | $10.5B |
| EPS | $7.32 | $-3.43 | $8.32 | $7.39 | $7.31 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 27, 2026 2:03am (8h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $1.4B | $9.5B | $15.9B | $16.2B | $19.2B |
| Total Current Assets | $2.6B | $133.9B | $176.6B | $215.7B | $260.4B |
| Total Assets | $30.5B | $257.2B | $313.5B | $377.9B | $460.9B |
| Current Liabilities | $4.1B | $184.3B | $216.4B | $269.6B | $331.9B |
| Long-Term Debt | $13.7B | $6.5B | $8.1B | $10.6B | $13.4B |
| Total Liabilities | $18.5B | $241.8B | $288.2B | $346.9B | $418.4B |
| Total Equity | $3.8B | $6.6B | $14.0B | $17.3B | $23.3B |
| Retained Earnings | $1.1B | -$1.0B | $3.0B | $6.0B | $7.6B |
Cash Flow (Annual)
Last updated: Jun 27, 2026 2:03am (8h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $1.1B | $3.8B | $6.3B | $3.3B | $7.5B |
| Capital Expenditure | -$64.7M | -$202.5M | $0 | $0 | $0 |
| Free Cash Flow | $999.3M | $3.6B | $6.3B | $3.3B | $7.5B |
| Acquisitions (net) | -$366.8M | $30.3B | $24.4B | $55.6B | $99.0M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$299.0M | -$635.0M | -$561.0M | -$890.0M | -$773.0M |
| Net Change in Cash | -$378.2M | $9.0B | $6.6B | -$579.0M | $3.5B |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 2:03am (8h ago)| Metric | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Revenue |
$23.0B $22.5B – $24.0B
|
$26.6B $25.7B – $28.1B
|
$30.2B $29.1B – $31.5B
|
$8.4B $8.1B – $8.8B
|
| EBITDA |
$7.1B $6.9B – $7.4B
|
$8.2B $7.9B – $8.7B
|
$9.3B $9.0B – $9.7B
|
$2.6B $2.5B – $2.7B
|
| Net Income |
$5.4B $5.2B – $5.6B
|
$6.5B $6.2B – $6.8B
|
$7.4B $7.1B – $7.9B
|
$7.9B $7.6B – $8.4B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 27, 2026 2:03am (8h ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +84.3% | +197.6% | -20.0% | +16.0% |
| Gross Profit Growth | +94.1% | +214.9% | -21.0% | +7.3% |
| Operating Income Growth | -321.4% | +240.5% | +35.0% | +25.6% |
| Net Income Growth | -206.6% | +348.9% | -9.3% | +1.2% |
| EBITDA Growth | -160.3% | +290.1% | +33.1% | +18.5% |
Dividend History (Last 20)
Last updated: Jun 27, 2026 2:03am (8h ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-05-19 | $0.56 | 2026-05-06 | 2026-05-19 | 2026-05-29 |
| 2026-02-19 | $0.51 | 2026-02-09 | 2026-02-19 | 2026-02-27 |
| 2025-11-17 | $0.51 | 2025-11-04 | 2025-11-17 | 2025-11-28 |
| 2025-08-18 | $0.51 | 2025-08-05 | 2025-08-18 | 2025-08-29 |
| 2025-05-16 | $0.51 | 2025-05-02 | 2025-05-16 | 2025-05-30 |
| 2025-02-18 | $0.46 | 2025-02-04 | 2025-02-18 | 2025-02-28 |
| 2024-11-18 | $0.46 | 2024-11-05 | 2024-11-18 | 2024-11-29 |
| 2024-08-16 | $0.46 | 2024-08-01 | 2024-08-16 | 2024-08-30 |
| 2024-05-16 | $0.46 | 2024-05-02 | 2024-05-17 | 2024-05-31 |
| 2024-02-16 | $0.43 | 2024-02-08 | 2024-02-20 | 2024-02-29 |
| 2023-11-16 | $0.43 | 2023-11-01 | 2023-11-17 | 2023-11-30 |
| 2023-08-17 | $0.43 | 2023-08-03 | 2023-08-18 | 2023-08-31 |
| 2023-05-19 | $0.43 | 2023-05-09 | 2023-05-22 | 2023-05-31 |
| 2023-02-17 | $0.40 | 2023-02-09 | 2023-02-21 | 2023-02-28 |
| 2022-11-16 | $0.40 | 2022-11-02 | 2022-11-17 | 2022-11-30 |
| 2022-08-17 | $0.40 | 2022-08-04 | 2022-08-18 | 2022-08-31 |
| 2022-05-17 | $0.40 | 2022-05-05 | 2022-05-18 | 2022-05-31 |
| 2022-02-17 | $0.40 | 2022-02-11 | 2022-02-18 | 2022-02-28 |
| 2021-11-18 | $0.50 | 2021-11-02 | 2021-11-19 | 2021-11-30 |
| 2021-08-18 | $0.50 | 2021-08-04 | 2021-08-19 | 2021-08-31 |
Narrative Economics
market-narrative step).