APO Financial Services

Apollo Global Management, Inc.

$113.55-4.95%

Price as of close on Nov 3, 2026 · Financials updated Nov 3, 2026

Basics

Sector: Financial Services
Industry: Asset Management
Country: United States
Market cap: 67.1B USD
Enterprise value: 50.7B USD
Full-time employees: 6,140

Overall health

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.50 vs a peer median of 0.70)higher risk: bigger price swings (beta 1.50 vs peers 0.70)
About average: growth and valuation

Ranks #119 of 232 financial services companies (bottom 50%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $2.5B vs $2.2B spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +3.6% from December 2022 to August 2026.
Over three fiscal years Apollo Global Management recorded $2.5B of stock-based pay expense and spent $2.2B repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Apollo Global Management recorded $2.5B of stock-based pay expense and spent $2.2B repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Valuation signals disagree. Cheaper than 72% of peers on free cash flow, but only 22% on earnings.
Relative to its free cash flow, Apollo Global Management looks cheaper than 72% of peers; relative to its earnings, cheaper than only 22%. The valuation score blends the two, so look at which measure fits this business best.
Cash flow well above reported profit. Free cash flow is 5.2× reported profit.
Free cash flow is 5.2× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.
Fast revenue growth. Revenue grew 41% in the 12 months to June 2026 vs the 12 months before, faster than 85% of peers.
Revenue grew 41% in the 12 months to June 2026 vs the 12 months before, faster than 85% of its peers.

StockQuotient Score

51/ 100

Oct 5 50 → Nov 4 51 (+1)

Valuation

Is the price right?

47/100

Moderate▲ 2 since Oct 27 close

2/3 inputs reported · Partial data

Since last quarter: ▼ Weaker

Share count up 2.4% (existing holders diluted)

Valuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 45 → 47

Peer companies moved+2

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Mixed versus peers:

▲ FCF yield
▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.7%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.80Sector median: 0.0571 · MAD: 0.0371

EBITDA yieldUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0689 · MAD: 0.0428

Free cash flow yield14.1%

Yahoo Finance fallback · SEC cash flow or share count unavailable · trailing 12 months · operating cash flow − capital spendingReported value20% base weight · Z-score 1.32Sector median: 0.0613 · MAD: 0.0605

Other data (not scored)

Book yield32.3%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.8352 · MAD: 0.4517

Growth

Is it growing?

51/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 13.7%

Why

Mixed versus peers:

▲ Revenue growth
▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-47.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.07Sector median: 0.0999 · MAD: 0.2773

3-year revenue growth10.2%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.02Sector median: 0.0999 · MAD: 0.0858

Revenue growth41.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.29Sector median: 0.0742 · MAD: 0.1477

Profitability

Does it earn well?

82/100

Strong▼ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Score 83 → 82

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin25.8%

Yahoo Finance fallback · SEC operating income not reported in standard form · fiscal year to Dec 2025Reported value33% base weight · Z-score 0.15Sector median: 0.2353 · MAD: 0.1462

Return on assets0.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.94Sector median: 0.0256 · MAD: 0.0233

Return on invested capital43.0%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsReported value33% base weight · Z-score 7.08Sector median: 0.0630 · MAD: 0.0518

Other data (not scored)

Gross margin36.1%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.7878 · MAD: 0.2122

Return on equity8.5%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0939 · MAD: 0.0702

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.50

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.55Sector median: 0.7010 · MAD: 0.3115

Current ratio1.95×

Yahoo Finance fallback · SEC figure unavailable or out of dateReported value33% base weight · Z-score -0.06Sector median: 2.0250 · MAD: 1.2470

Debt / equity0.65×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.15Sector median: 0.5734 · MAD: 0.5454

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Apollo Global Management

Is Apollo Global Management getting weaker?: Its latest SEC filing (Aug 10, 2026) got weaker in some ways: share count up 2.4%. Its overall score is unchanged at 51/100 since Oct 28, 2026.
How is Apollo Global Management valued vs its peers?: Priced about in line with its peers. Valuation scores 47/100 against 432 financial services peers. Free cash flow yield 14.1% vs a peer median of 6.1% (stronger than 72% of peers).Free cash flow yield 14.1% vs peers 6.1% (stronger than 72% of peers). Earnings yield 2.7% vs a peer median of 5.7% (weaker than 78% of peers).Earnings yield 2.7% vs peers 5.7% (weaker than 78% of peers).
Is Apollo Global Management growing?: At about the same pace as its peers. Growth scores 51/100 against 432 financial services peers. Revenue growth 41.2% vs a peer median of 7.4% (stronger than 85% of peers).Revenue growth 41.2% vs peers 7.4% (stronger than 85% of peers). Earnings per share growth -47.4% vs a peer median of 10.0% (weaker than 87% of peers).Earnings per share growth -47.4% vs peers 10.0% (weaker than 87% of peers).
How profitable is Apollo Global Management?: More profitable than most of its peers. Profitability scores 82/100 against 432 financial services peers. Return on invested capital 43.0% vs a peer median of 6.3% (stronger than 93% of peers).Return on invested capital 43.0% vs peers 6.3% (stronger than 93% of peers). Return on assets 0.4% vs a peer median of 2.6% (weaker than 80% of peers).Return on assets 0.4% vs peers 2.6% (weaker than 80% of peers).
How risky is Apollo Global Management?: Higher risk relative to 432 financial services peers, judged on debt, liquidity and share-price swings. Beta 1.50 vs a peer median of 0.70 (weaker than 93% of peers).Beta 1.50 vs peers 0.70 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 10, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

Share count up 2.4% (existing holders diluted)

	Previous quarter	Latest quarter	Change
Revenue (12 months)	31.6B USD	35.9B USD	+13.7%
Net income (12 months)	1.0B USD	1.8B USD	+69.8%
Debt	14.2B USD	13.7B USD	−3.5%
Cash	23.7B USD	28.4B USD	+19.7%
Shares outstanding	576.5M	590.5M	+2.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Asset Management · 43 companies

Valuations in Asset Management are near the top of their range since 2016.

95% of months since 2016 were valued lower than now.
37% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +10% and earnings +13% (medians): prices and earnings moved broadly together.
Median price-to-sales is +31% vs the whole market, against a usual +6%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Net margin	30.9%	-17.9%	15.5%	17.5%	10.9%	▼ 6.6 pts
Return on assets (ROA)	6.0%	-0.8%	1.6%	1.2%	0.8%	▼ 0.5 pts
Return on equity (ROE)	48.5%	-29.5%	35.9%	26.5%	15.0%	▼ 12 pts
Debt to equity	0.83×	0.97×	0.58×	0.61×	0.57×	▼ 6.7%

APO price history

Price history is added with the daily price update and will appear after the next one.

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Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.50 vs a peer median of 0.70)higher risk: bigger price swings (beta 1.50 vs peers 0.70)

About average: growth and valuation

Ranks #119 of 232 financial services companies (bottom 50%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $2.5B vs $2.2B spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +3.6% from December 2022 to August 2026.

Over three fiscal years Apollo Global Management recorded $2.5B of stock-based pay expense and spent $2.2B repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Apollo Global Management recorded $2.5B of stock-based pay expense and spent $2.2B repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

Valuation signals disagree. Cheaper than 72% of peers on free cash flow, but only 22% on earnings.

Relative to its free cash flow, Apollo Global Management looks cheaper than 72% of peers; relative to its earnings, cheaper than only 22%. The valuation score blends the two, so look at which measure fits this business best.

Cash flow well above reported profit. Free cash flow is 5.2× reported profit.

Free cash flow is 5.2× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

Fast revenue growth. Revenue grew 41% in the 12 months to June 2026 vs the 12 months before, faster than 85% of peers.

Revenue grew 41% in the 12 months to June 2026 vs the 12 months before, faster than 85% of its peers.

Questions investors ask about Apollo Global Management

Is Apollo Global Management getting weaker?

Its latest SEC filing (Aug 10, 2026) got weaker in some ways: share count up 2.4%. Its overall score is unchanged at 51/100 since Oct 28, 2026.

How is Apollo Global Management valued vs its peers?

Priced about in line with its peers. Valuation scores 47/100 against 432 financial services peers. Free cash flow yield 14.1% vs a peer median of 6.1% (stronger than 72% of peers).Free cash flow yield 14.1% vs peers 6.1% (stronger than 72% of peers). Earnings yield 2.7% vs a peer median of 5.7% (weaker than 78% of peers).Earnings yield 2.7% vs peers 5.7% (weaker than 78% of peers).

Is Apollo Global Management growing?

At about the same pace as its peers. Growth scores 51/100 against 432 financial services peers. Revenue growth 41.2% vs a peer median of 7.4% (stronger than 85% of peers).Revenue growth 41.2% vs peers 7.4% (stronger than 85% of peers). Earnings per share growth -47.4% vs a peer median of 10.0% (weaker than 87% of peers).Earnings per share growth -47.4% vs peers 10.0% (weaker than 87% of peers).

How profitable is Apollo Global Management?

More profitable than most of its peers. Profitability scores 82/100 against 432 financial services peers. Return on invested capital 43.0% vs a peer median of 6.3% (stronger than 93% of peers).Return on invested capital 43.0% vs peers 6.3% (stronger than 93% of peers). Return on assets 0.4% vs a peer median of 2.6% (weaker than 80% of peers).Return on assets 0.4% vs peers 2.6% (weaker than 80% of peers).

How risky is Apollo Global Management?

Higher risk relative to 432 financial services peers, judged on debt, liquidity and share-price swings. Beta 1.50 vs a peer median of 0.70 (weaker than 93% of peers).Beta 1.50 vs peers 0.70 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

31.6B USD

35.9B USD

+13.7%

Net income (12 months)

1.0B USD

1.8B USD

+69.8%

Debt

14.2B USD

13.7B USD

−3.5%

Cash

23.7B USD

28.4B USD

+19.7%

Shares outstanding

576.5M

590.5M

+2.4%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Net margin

30.9%

-17.9%

15.5%

17.5%

10.9%

▼ 6.6 pts

Return on assets (ROA)

6.0%

-0.8%

1.6%

1.2%

0.8%

▼ 0.5 pts

Return on equity (ROE)

48.5%

-29.5%

35.9%

26.5%

15.0%

▼ 12 pts

Debt to equity

0.83×

0.97×

0.58×

0.61×

0.57×

▼ 6.7%