financial statements

The full income statement, balance sheet, and cash-flow statement for Apollo Global Management Inc. (New) (APO), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	32.0B YoY+22.7%	26.1B YoY-20.0%	32.6B YoY+197.6%	11.0B YoY+84.3%	5.95B YoY+152.8%
Total operating expenses	25.3B YoY+33.2%	19.0B YoY-30.5%	27.3B YoY+71.8%	15.9B YoY+286.8%	4.11B YoY+160.5%
Pre-tax income	6.68B YoY-10.2%	7.43B YoY+33.1%	5.59B YoY+231.6%	-4.25B YoY-187.3%	4.86B YoY+779.0%
Income tax	1.28B YoY+20.2%	1.06B YoY+215.1%	-923M YoY-24.9%	-739M YoY-224.4%	594M YoY+590.7%
	3.40B YoY-24.2%	4.48B YoY-10.4%	5.00B YoY+355.0%	-1.96B YoY-208.8%	1.80B YoY+1047.8%
Net income to non-controlling interest	1.91B YoY+6.3%	1.80B YoY+22.8%	1.46B YoY+194.6%	-1.55B YoY-163.7%	2.43B YoY+683.2%
Net income to common	3.40B YoY-24.2%	4.48B YoY-10.4%	5.00B YoY+355.0%	-1.96B YoY-208.8%	1.80B YoY+1401.7%
	$5.54 YoY-24.4%	$7.33 YoY-11.5%	$8.28 YoY+341.4%	-$3.43 YoY-146.9%	$7.32 YoY+1563.6%
EPS (basic)	$5.58 YoY-24.5%	$7.39 YoY-11.2%	$8.32 YoY+342.6%	-$3.43 YoY-146.9%	$7.32 YoY+1563.6%
Weighted-avg shares (basic)	589M YoY+0.6%	586M YoY+0.8%	581M YoY-0.6%	585M YoY+147.2%	237M YoY+4.0%
Weighted-avg shares (diluted)	594M YoY-1.7%	604M YoY+2.6%	589M YoY+0.7%	585M YoY+147.2%	237M YoY+4.0%
Dividends per share	$1.99 YoY+9.9%	$1.81 YoY+7.1%	$1.69 YoY+5.6%	$1.60 YoY-23.8%	$2.10 YoY-9.1%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	20.6B YoY+20.3%	17.1B YoY-3.3%	17.7B YoY+97.0%	8.98B YoY+879.3%	917M YoY-41.1%
	461B YoY+22.0%	378B YoY+20.5%	313B YoY+21.9%	257B YoY+743.3%	30.5B
Goodwill	5.92B YoY+36.8%	4.33B YoY-0.0%	4.33B YoY+0.2%	4.32B YoY+3594.0%	117M
	418B YoY+20.6%	347B YoY+20.4%	288B YoY+19.2%	242B YoY+1204.5%	18.5B
Long-term debt	13.4B YoY+26.2%	10.6B YoY+30.8%	8.09B YoY+25.0%	6.47B YoY+106.5%	3.13B
	23.3B YoY+35.3%	17.3B YoY+22.8%	14.0B YoY+111.5%	6.64B YoY+75.2%	3.79B YoY-31.3%
Preferred stock	1.40B YoY+0.0%	1.40B YoY+0.0%	1.40B	0.00	—
Common stock	0.00	0.00	0.00	0.00	0.00
Additional paid-in capital	17.0B YoY+10.6%	15.3B YoY+0.5%	15.2B YoY+1.8%	15.0B YoY+614.8%	2.10B
Retained earnings	7.63B YoY+26.8%	6.02B YoY+102.6%	2.97B YoY+395.1%	-1.01B YoY-188.0%	1.14B
Accumulated other comprehensive income	-2.65B YoY+51.9%	-5.49B YoY+1.5%	-5.58B YoY+24.0%	-7.33B YoY-146600.0%	-5.00M
Non-controlling interest	19.2B YoY+39.8%	13.7B YoY+22.5%	11.2B YoY+44.8%	7.73B YoY+20.6%	6.41B
Total equity incl. non-controlling	42.5B YoY+37.3%	31.0B YoY+22.7%	25.2B YoY+75.6%	14.4B YoY+40.9%	10.2B YoY+84.9%
Total liabilities & equity	461B YoY+22.0%	378B YoY+20.5%	313B YoY+21.9%	257B YoY+743.3%	30.5B
Common shares issued	579M YoY+2.3%	566M YoY-0.4%	568M YoY-0.4%	570M	—
Common shares outstanding	579M YoY+2.3%	566M YoY-0.4%	568M YoY-0.4%	570M	—
Shares outstanding (cover)	580M YoY+2.6%	566M YoY-0.3%	568M YoY-0.8%	572M	—
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	7.25B YoY+122.7%	3.25B YoY-48.5%	6.32B YoY+66.9%	3.79B YoY+256.1%	1.06B YoY+165.8%
Depreciation & amortization	1.43B YoY+33.1%	1.07B YoY+33.9%	803M YoY+51.8%	529M YoY+1859.3%	27.0M YoY+42.1%
Share-based compensation	789M YoY+9.4%	721M YoY-29.7%	1.03B YoY+90.0%	540M YoY-54.3%	1.18B YoY+454.5%
Deferred income taxes	643M YoY+749.5%	-99.0M YoY+94.8%	-1.90B YoY-51.5%	-1.25B YoY-364.0%	475M YoY+1257.1%
	-64.0B YoY-3.5%	-61.8B YoY-45.7%	-42.4B YoY-80.9%	-23.4B YoY-1410.6%	-1.55B YoY-85.2%
Acquisitions	-99.0M	0.00	0.00	—	—
Purchases of investments	444M	0.00	0.00	—	—
Sales/maturities of investments	444M	0.00	0.00	—	—
Other investing activities	1.69B YoY+42.0%	1.19B YoY+615.6%	-231M YoY-183.4%	277M YoY+301.4%	69.0M YoY+32.7%
	60.2B YoY+3.8%	58.0B YoY+36.0%	42.6B YoY+48.5%	28.7B YoY+26239.4%	109M YoY-96.7%
Long-term debt issued	7.22B YoY-9.2%	7.95B YoY+61.7%	4.91B YoY-14.5%	5.75B YoY+330.7%	1.33B YoY-69.0%
Long-term debt repaid	4.64B YoY-11.7%	5.26B YoY+39.1%	3.78B YoY-6.3%	4.03B YoY+104.9%	1.97B YoY+112.8%
Common stock repurchased	773M YoY-13.1%	890M YoY+58.6%	561M YoY-11.7%	635M YoY+112.4%	299M YoY+225.0%
Dividends paid	1.20B YoY+10.0%	1.09B YoY+7.9%	1.01B YoY+5.2%	962M YoY+86.1%	517M YoY-6.0%
Other financing activities	-178M YoY+77.4%	-788M YoY-406.6%	257M YoY-88.4%	2.22B YoY+1289.3%	-187M YoY-19.1%
FX effect on cash	5.00M YoY+266.7%	-3.00M YoY-130.0%	10.0M YoY+166.7%	-15.0M	0.00
Net change in cash	3.48B YoY+700.9%	-579M YoY-108.8%	6.56B YoY-27.4%	9.04B YoY+2485.2%	-379M YoY-144.8%
Interest paid	994M YoY+23.5%	805M YoY+11.8%	720M YoY+27.2%	566M YoY+1.8%	556M YoY+81.1%
Income taxes paid	590M YoY-43.7%	1.05B YoY+192.7%	358M YoY-64.4%	1.01B YoY+732.2%	121M YoY+227.0%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	84.0B YoY-10.1%	93.5B YoY+76.7%	52.9B YoY+44.9%	36.5B	—
P/E	24.7× YoY+18.6%	20.9× YoY+15.7%	18.0×	—	—
P/S	2.6× YoY-26.7%	3.6× YoY+79.1%	2.0× YoY-59.8%	5.0×	—
P/B	3.6× YoY-33.5%	5.4× YoY-13.4%	6.3×	—	—
P/FCF	11.6× YoY-59.6%	28.7× YoY+211.3%	9.2× YoY-68.3%	29.1×	—
Earnings yield	4.0% YoY-15.7%	4.8% YoY-13.6%	5.5%	—	—
FCF yield	8.6% YoY+147.7%	3.5% YoY-67.9%	10.8% YoY+215.5%	3.4%	—
Dividend yield	1.4% YoY+25.4%	1.1% YoY-39.6%	1.8% YoY-27.7%	2.5%	—
Source filing	10-Q	10-K	10-K	10-K	10-K

About this data

Source: APO's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all APO filings on SEC EDGAR → Not investment advice.

APO▼ financial statements

About this data

financial statements