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Apollo Global Management Inc (APO)

Overvalued
Financial ServicesAsset ManagementUnited States

Fundamental

55

Price

$112.89

Market Cap

$70.27B

Part 1 · What the company is worth

Overview

Apollo Global Management, Inc. is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions. For credit strategies, the firm focuses to invest in multi-sector credit, semi-liquid credit, direct lending, first lien, unitranche, whole loans and private credit. The firm provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients. It also manages real estate funds and private equity funds for its clients. The firm invests in the fixed income and alternative investment markets across the globe. Its fixed income investments include income-oriented senior loans, bonds, collateralized loan obligations, structured credit, opportunistic credit, non-performing loans, distressed debt, mezzanine debt, and value oriented fixed income securities. The firm seeks to invest in chemicals, commodities, consumer and retail, oil and gas, metals, mining, agriculture, commodities, distribution and transportation, financial and business services, manufacturing and industrial, media distribution, cable, entertainment and leisure, telecom, technology, natural resources, energy, packaging and materials, and satellite and wireless industries. It also focuses on clean energy, sustainable industry, climate solutions, energy transition, industrial decarbonization, sustainable mobility, sustainable resource use, and sustainable real estate. It seeks to invest in companies based in across Africa, Asia, North America with a focus on United States, Western Europe and Europe. It employs a combination of contrarian, value, and distressed strategies to make its investments. The firm seeks to make investments in the range of $75 million and $1500 million. The firm seeks to invest in companies with Enterprise value between $750 million to $2500 million. The firm conducts in-house research to create its investment portfolio. It seeks to acquire minority and majority positions in its portfolio companies. Apollo Global Management, Inc. was founded in 1990 and is headquartered in New York, New York with additional offices in North America, Asia, Africa and Europe.

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Direct competitors

Who this company fights with for the same customers

Compare

Generated on September 18, 2026 with claude-haiku-4-5 — shared with all users

P/E: 25.1Score: 71Market cap: $85.99B

The largest alternative asset manager, competing with Apollo for the same institutional and wealth-channel capital across private credit, private equity and real assets.

P/E: 26.6Score: 59Market cap: $83.70B

Runs the same twin model of buyout and credit funds paired with an owned insurance balance sheet (Global Atlantic), bidding against Apollo for the same deals and the same annuity savers.

P/E: 41.5Score: 58Market cap: $37.06B

Apollo's closest rival in private credit and direct lending, competing to originate and fund the same corporate loans for the same borrowers.

P/E: 75.8Score: 56Market cap: —

Competes head-on in direct lending and in raising perpetual private-credit vehicles sold to individual investors through wealth-management platforms.

P/E: 41.3Score: 58Market cap: $14.05B

A global buyout house chasing the same large corporate acquisitions and the same limited-partner commitments to private equity funds.

P/E: 26.0Score: 60Market cap: —

Competes for the same infrastructure, real estate and energy-transition mandates, and likewise funds them partly through an affiliated annuity and pension-risk business.

Balance Sheet & Liquidity

Revenue

$35.90B

Trailing 12 months (through 6/30/2026)

Net Income

$1.88B

Trailing 12 months (through 6/30/2026)

Free Cash Flow

-

Total Equity

$23.34B

Total Liabilities

$418.43B

Current Ratio

0.04

Interest Coverage

-

Debt/EBITDA

-

Earnings Per Share

Revenue & Net Income

Free Cash Flow

Income Breakdown

Historical statement

Margins over time

Debt over time

How heavy the debt is

Growth grid

Growth — Revenue

Fair Value Estimation

General caseOvervalued

Fair Value

$93.16

Current Price

$112.89

Margin of Safety

-21.2%

Fair Value Range

$60.55 - $125.76

Spread across the valuation methods used, not a statistically calibrated confidence interval.

Estimation Methods

Analyst price target:$153.47
Discounted cash flow (DCF):$48.71
Earnings multiple (P/E):$34.16
Graham growth formula:$87.34
Earnings power value (EPV):$82.07
Justified P/B:$20.86
Dividend discount (Gordon):$26.65
P/FFO, funds from operations:$133.38
Mid-cycle earnings:Not enough data to compute it
Revenue multiple:$137.03
Analyst Consensus:Buy (19B / 7H / 0S)
Last Earnings Surprise:-3.90%

Valuation Metrics

P/E Ratio

42.20

ROE

15.0%

P/B Ratio

3.26

P/FCF

-

Gross Margin

-

ROIC

-

Profitability Radar

Value Creation (Economic Moat)

ROIC

-

WACC

11.3%

ROIC − WACC

-

Fundamental Analysis Criteria

Passed (11)

  • EPS shows upward trend
  • EPS CAGR 65.96%
  • Price CAGR 20.89%
  • Low reliance on intangibles
  • ROE 8.6%
  • Revenue Growth 5Y 52.1%
  • Analyst Consensus 73% Buy
  • Earnings Surprise avg 6.8%
  • Earnings Quality (OCF/NI) 5.05
  • Share Dilution 0.9%
  • Piotroski F-Score 6/9

Failed (7)

  • P/B Ratio 3.26
  • Debt/Equity ratio
  • Return on Tangible Assets
  • Price below Graham Number
  • DCF valuation (Unknown)
  • PEG Ratio 2.79
  • Net Margin Trend 5.2% vs 13.3%

Unavailable (10)

  • ROIC NaN%
  • Gross Margin NaN%
  • P/FCF NaN
  • Dividend Payout NaN%
  • Operating Margin NaN%
  • Positive Free Cash Flow
  • CapEx intensity
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA

Piotroski F-Score

6/9

Mixed signals: some areas need attention

score
criteria

Earnings Quality

5.05

High quality: earnings backed by cash

Share Dilution

0.9%

Share count is stable

Institutional Holdings

Governance

Executive Team

NameTitleAge
Mr. Marc Jeffrey RowanCo-Founder, CEO & Chairman of the Board63
Mr. James Richard BelardiCo- Founder, Executive Chairman, Chief Investment Officer of Athene, Partner & Director68
Mr. Martin Bernard KellyPartner & CFO57
Ms. Whitney A ChatterjeePartner & Chief Legal Officer50
Mr. John T. Zito C.F.A.Co-President of Apollo Asset Management43
Mr. James Charles ZelterPresident & Director63
Ms. Kristiane KinahanMD of Finance in New York & Chief Accounting Officer46
Mr. Jamey LamannaPartner & Chief Information Officer-
Mr. Noah GunnMD of Finance & Global Head of Investor Relations in New York-
Ms. Yael Kenan Levy J.D.Chief Compliance Officer and Partner of Legal, Compliance & Tax in New York-

Audit Risk

9

Board Risk

9

Compensation Risk

10

Shareholder Rights Risk

5

Part 2 · The price and when to enter

This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.

Documents

  • Annual Report (10-K)

    A yearly overview of the business, its financial results, and the risks it faces.

    Filed on 2026-02-25

    View document
  • Quarterly Report (10-Q)

    A snapshot of financial performance for the most recent three-month period.

    Filed on 2026-08-10

    View document
  • Current Report (8-K)

    An announcement of a major event, such as a leadership change or big news.

    Filed on 2026-09-21

    View document

via SEC EDGAR

Income History

via SEC EDGAR

Latest News

Recent headlines for APO, sourced from Markets Gazette.

  • 3d agoNEGATIVE
    How Muse and other AI agents could spark a bank run, according to an economist

    The chief economist at Apollo Global Management has warned that agentic Artificial Intelligence (AI) could potentially trigger a bank run. This concern stems from the idea that advanced AI agents could rapidly move large sums of money, overwhelming traditional banking systems and liquidity management. While the specific AI agent 'Muse' is mentioned, the broader implication is that sophisticated AI could destabilize financial markets by creating sudden, large-scale withdrawals. Investors should monitor developments in AI regulation and its potential impact on financial stability.

  • 8d agoNEUTRAL
    Apollo’s Rowan Blasts Regulators for Handling of Walter Insurers

    Marc Rowan, CEO of Apollo Global Management, has publicly criticized Delaware's insurance regulators regarding their oversight of Mark Walter's insurance entities. These companies are currently under federal investigation. While this news highlights potential regulatory scrutiny and governance concerns within the insurance sector, it does not directly impact Apollo's financial performance or operational outlook at this stage. Investors will monitor the developments of the federal probe and any potential repercussions for companies associated with Mark Walter.

  • 8d agoNEGATIVE
    Apollo Global a rischio mentre proseguono i riscatti nel credito privato

    Apollo Global Management LLC (APO) shares have underperformed the market, declining 13.60% from their August high to $124.15. The company has imposed limits on redemptions in its private credit funds during the third quarter. Investors in Apollo Debt Solutions BDC sought to redeem approximately 14.7% of shares in the latest offering, a slight improvement from the 16.8% in the prior quarter. This ongoing redemption pressure and the company's stock performance suggest potential headwinds and investor concerns regarding liquidity and asset management in its private credit operations.

  • 14d agoNEUTRAL
    Apollo Mulls Raising SoftBank Loan to $9 Billion for OpenAI Bets

    Apollo Global Management is reportedly in discussions to increase a loan facility for SoftBank Group to $9 billion, up from an initial $5.4 billion. This larger loan is intended to bolster SoftBank's investments in AI leader OpenAI. While this indicates potential for significant capital deployment in the AI sector, the news primarily concerns financing arrangements between two large investment firms rather than direct operational news for Apollo or SoftBank themselves. Investors will monitor the finalization of the loan and the performance of OpenAI.

  • 16d agoPOSITIVE
    Apollo Gives $585 Million of Financing to The Executive Centre

    Apollo Global Management has committed $585 million in financing to The Executive Centre, a flexible workspace provider. This significant hybrid debt and equity deal marks Apollo's largest such transaction in Asia. The financing is expected to bolster The Executive Centre's operations and expansion plans, potentially enhancing its market position. For Apollo, this represents a strategic deployment of capital in a key growth region, signaling confidence in the Asian flexible workspace sector and offering a substantial return opportunity.

  • 22d agoNEGATIVE
    Apollo's Kleinman Says Legacy Portfolio Firms Have a Valuation Issue

    Scott Kleinman, co-President of Apollo Asset Management, highlighted a significant valuation challenge within Apollo's legacy portfolio companies. He cited the rising cost of capital as a key factor exacerbating these issues, which could negatively impact future returns for investors. This commentary, made at the IPEM conference in Paris, suggests potential headwinds for a portion of Apollo's managed assets, raising concerns about the performance of older investments in the current economic climate.

  • 22d agoNEUTRAL
    Apollo’s Kleinman Sees Golden Age of Capital as Corporates Spend

    Scott Kleinman, a top executive at Apollo Global Management Inc., has declared that the private capital industry is experiencing a "golden age of capital deployment." This optimistic outlook persists despite the conclusion of an era characterized by cheap funding. Kleinman's statement suggests robust activity and significant investment opportunities within the private capital markets, indicating a strong environment for capital allocation and growth, even as financing costs are expected to rise. Investors may find this environment conducive to seeking alternative investment strategies.

  • 22d agoPOSITIVE
    Apollo’s Kleinman Sees Golden Age of Capital as Firms Spend

    Scott Kleinman, a top executive at Apollo Global Management Inc., has declared the private capital industry is experiencing a "golden age of capital deployment." This optimistic outlook suggests robust investment activity and opportunities within the private markets, even as the era of historically low interest rates concludes. For investors, this implies a potentially favorable environment for private equity and alternative asset strategies, with significant capital available for deployment into promising ventures and companies. The sentiment points towards strong deal-making and growth prospects within the sector.

  • 8/4/2026POSITIVE
    Apollo’s Dealmaking Spree Drives Fee-Related Revenue to a Record

    Apollo Global Management has achieved a record in fee-related revenue, underscoring its aggressive dealmaking strategy and growing influence as a major lender on Wall Street. This performance highlights the firm's successful expansion in alternative asset management, particularly in private credit, which generates consistent fee income. For investors, this record revenue signals strong operational execution and a robust business model capable of generating substantial profits independent of market volatility. The sustained deal flow suggests continued growth potential and reinforces Apollo's position in the competitive financial landscape.

via Markets Gazette