Apollo Global Management, Inc. (APO) Key Metrics
APO valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $65.42B
- Enterprise value
- −$178.05B
- P/E (TTM)
- 39.7 10-yr median 12.3
- Forward P/E
- 11.7
- PEG ratio
- 0.47
- Price / sales
- 1.8 10-yr median 3.1
- Price / book
- 3.7 10-yr median 2.2
- EV / EBITDA
- 7.9 10-yr median 6.0
- Dividend yield
- 2.03% $2.25 a year
- Beta
- 1.58
APO key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsAPO valuation Price multiples at each fiscal year-end price.
APO returns How much profit the business earns on the capital it uses.
APO per-share figures Results divided by the shares outstanding at year-end.
APO financial health Debt, liquidity and how easily interest is covered.
APO efficiency & capital use Working capital cycle and where the cash goes.
APO valuation history
APO returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
APO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
APO cash returned to shareholders
APO price vs earnings per share
APO key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $88.00B | $99.76B | $54.87B | $37.30B | $17.13B | $11.14B | $9.96B | $4.91B | $6.45B | $3.56B |
| Enterprise value | −$146.69B | −$95.63B | −$107.28B | −$82.89B | $22.00B | $23.32B | $11.96B | $6.46B | $7.97B | $4.85B |
| P/E ratio | 25.2 | 22.5 | 10.9 | 18.7 | 9.3 | 71.0 | 12.3 | — | 10.6 | 9.2 |
| Price / sales | 2.7 | 3.8 | 1.7 | 3.4 | 2.9 | 4.7 | 3.4 | 4.5 | 2.3 | 1.7 |
| Price / book | 3.8 | 3.2 | 2.2 | 2.4 | 1.7 | 1.8 | 3.3 | 2.0 | 2.2 | 1.9 |
| Price / free cash flow | 11.8 | 30.7 | 8.7 | 10.4 | 17.1 | — | 9.5 | 6.1 | 8.1 | 5.9 |
| Price / operating cash flow | 11.8 | 30.7 | 8.7 | 9.8 | 16.1 | — | 9.2 | 6.0 | 8.0 | 5.8 |
| EV / sales | -4.6 | -3.7 | -3.3 | -7.6 | 3.7 | 9.9 | 4.1 | 5.9 | 2.9 | 2.3 |
| EV / EBITDA | — | — | — | — | 3.8 | 24.5 | 7.7 | 30.6 | 4.3 | 4.3 |
| EV / free cash flow | — | — | — | — | 22.0 | — | 11.5 | 8.1 | 10.0 | 8.0 |
| Earnings yield | 4.0% | 4.4% | 9.2% | 5.3% | 10.7% | 1.4% | 8.1% | −0.6% | 9.4% | 10.9% |
| Free cash flow yield | 8.5% | 3.3% | 11.5% | 9.6% | 5.8% | −15.0% | 10.5% | 16.3% | 12.4% | 17.1% |
| Dividend yield | 1.5% | 1.2% | 1.9% | 2.6% | 3.2% | 5.3% | 4.7% | 8.9% | 5.9% | 6.7% |
| Shareholder yield (dividends + buybacks) | 2.4% | 2.1% | 2.9% | 4.3% | 5.0% | 6.1% | 5.9% | 10.8% | 6.2% | 7.1% |
| Share price at fiscal year-end | $144.76 | $165.16 | $93.19 | $63.79 | $72.43 | $48.98 | $47.71 | $24.54 | $33.47 | $19.36 |
| Per share | ||||||||||
| Revenue per share | $52.72 | $43.23 | $55.44 | $18.76 | $25.16 | $10.35 | $14.04 | $5.47 | $14.39 | $11.27 |
| Earnings per share | $5.74 | $7.33 | $8.57 | $3.41 | $7.77 | $0.69 | $3.87 | −$0.14 | $3.16 | $2.11 |
| Operating cash flow per share | $12.26 | $5.39 | $10.74 | $6.48 | $4.50 | −$7.10 | $5.19 | $4.07 | $4.20 | $3.34 |
| Free cash flow per share | $12.26 | $5.39 | $10.74 | $6.13 | $4.22 | −$7.37 | $5.00 | $4.00 | $4.15 | $3.31 |
| Cash per share | $408.05 | $341.01 | $289.11 | $217.85 | $3.88 | $10.76 | $7.45 | $3.30 | $4.38 | $4.65 |
| Book value per share | $38.40 | $51.29 | $42.87 | $26.34 | $43.09 | $27.67 | $14.55 | $12.26 | $15.05 | $10.15 |
| Tangible book value per share | $27.63 | $35.14 | $26.30 | $18.64 | $42.54 | $27.05 | $14.01 | $11.72 | $14.49 | $9.54 |
| Dividends per share | $2.14 | $1.97 | $1.76 | $1.65 | $2.34 | $2.58 | $2.26 | $2.19 | $1.97 | $1.30 |
| Capex per share | $0.00 | $0.00 | $41.44 | $0.35 | $0.27 | $0.26 | $0.19 | $0.07 | $0.04 | $0.03 |
| Debt per share | $21.98 | $17.53 | $13.74 | $12.29 | $24.45 | $64.26 | $17.03 | $11.08 | $12.28 | $11.63 |
| Shares outstanding | 607.9M | 604.0M | 588.8M | 584.7M | 236.6M | 227.5M | 208.7M | 199.9M | 192.6M | 184.0M |
| Change in shares outstanding | +0.6% | +2.6% | +0.7% | +147.2% | +4.0% | +9.0% | +4.4% | +3.8% | +4.7% | +6.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 12.9% | 15.7% | 24.8% | 15.6% | 22.3% | 3.4% | 29.4% | −1.1% | 25.5% | 23.8% |
| Return on invested capital (ROIC) | — | — | — | — | 10.3% | 6.5% | 29.6% | 3.0% | 31.9% | 31.4% |
| Return on assets (ROA) | 0.8% | 1.3% | 1.8% | 1.4% | 6.8% | 1.0% | 11.1% | −0.4% | 9.6% | 7.6% |
| Return on tangible assets | 0.8% | 1.2% | 1.7% | 0.8% | 6.1% | 0.7% | 9.6% | −0.5% | 8.8% | 7.0% |
| Free cash flow margin | 23.3% | 12.5% | 19.4% | 32.7% | 16.8% | −71.2% | 35.6% | 73.1% | 28.9% | 29.4% |
| Income quality (OCF / net income) | 2.13 | 0.73 | 1.25 | 1.90 | 0.58 | −10.30 | 1.34 | — | 1.33 | 1.59 |
| Financial health | ||||||||||
| Total debt | $13.36B | $10.59B | $8.09B | $7.19B | $5.78B | $14.62B | $3.56B | $2.22B | $2.36B | $2.14B |
| Cash & short-term investments | $248.06B | $205.98B | $170.24B | $127.37B | $917.2M | $2.45B | $1.56B | $659.4M | $844.2M | $855.0M |
| Net debt | −$234.70B | −$195.39B | −$162.15B | −$120.19B | $4.87B | $12.17B | $2.00B | $1.56B | $1.52B | $1.28B |
| Debt / equity | 0.57 | 0.34 | 0.32 | 0.47 | 0.57 | 2.32 | 1.17 | 0.90 | 0.82 | 1.15 |
| Debt / assets | 0.03 | 0.03 | 0.03 | 0.03 | 0.19 | 0.62 | 0.42 | 0.37 | 0.34 | 0.38 |
| Net debt / EBITDA | −27.68 | −22.08 | −24.25 | −120.80 | 0.84 | 12.77 | 1.29 | 7.37 | 0.83 | 1.14 |
| Current ratio | 0.78 | 0.80 | 0.82 | 0.73 | 0.72 | 1.84 | 1.39 | 0.98 | 0.77 | 1.38 |
| Quick ratio | 0.78 | 0.80 | 0.82 | 0.62 | −0.99 | −0.51 | −0.46 | 0.75 | 0.57 | 1.38 |
| Interest coverage | 22.3 | 36.7 | 40.6 | 0.9 | 2.2 | 2.4 | 10.6 | 2.8 | 28.0 | 22.5 |
| Working capital | −$71.54B | −$53.91B | −$39.84B | −$50.46B | −$812.9M | $1.38B | $554.4M | −$23.0M | −$395.6M | $672.8M |
| Invested capital | −$211.35B | −$164.41B | −$136.91B | −$104.79B | $15.06B | $18.47B | $5.04B | $4.01B | $4.42B | $3.15B |
| Tangible asset value | $35.97B | $21.23B | $15.49B | $10.90B | $10.06B | $6.16B | $2.92B | $2.34B | $2.79B | $1.76B |
| Net current asset value | −$158.08B | −$131.21B | −$111.63B | −$107.95B | −$18.19B | −$14.35B | −$3.51B | −$2.43B | −$2.74B | −$1.31B |
| Graham number | $70.44 | $91.95 | $90.93 | $44.96 | $86.82 | $20.73 | $35.60 | — | $32.71 | $21.95 |
| Graham net-net per share | −$266.76 | −$222.42 | −$194.53 | −$173.56 | −$69.82 | −$55.43 | −$11.04 | −$12.27 | −$14.70 | −$9.61 |
| Capital allocation | ||||||||||
| Dividends paid | $1.30B | $1.19B | $1.03B | $962.0M | $554.0M | $586.2M | $471.9M | $438.5M | $380.2M | $239.1M |
| Share buybacks (net) | $773.0M | $890.0M | $561.0M | $635.0M | $299.4M | $91.6M | $110.7M | $90.9M | $18.5M | $13.4M |
| Dividend payout ratio | 37.2% | 26.9% | 20.5% | 48.2% | 30.1% | 373.4% | 58.4% | — | 62.5% | 61.6% |
| Dividends + buybacks / free cash flow | 27.8% | 63.9% | 25.2% | 44.5% | 85.4% | — | 55.9% | 66.2% | 49.9% | 41.5% |
| Capex / revenue | 0.0% | 0.0% | 74.8% | 1.8% | 1.1% | 2.5% | 1.3% | 1.3% | 0.3% | 0.3% |
| Capex / operating cash flow | 0.0% | 0.0% | 386.0% | 5.3% | 6.1% | — | 3.6% | 1.8% | 1.1% | 1.0% |
| Capex / depreciation | 0.00 | 0.00 | 30.39 | 0.34 | 2.37 | 3.16 | 2.51 | 0.97 | 0.46 | 0.34 |
| Stock-based compensation / revenue | 2.2% | 2.8% | 3.1% | 4.9% | 19.8% | 9.1% | 6.5% | 15.8% | 3.3% | 5.0% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| SG&A / revenue | 9.7% | 10.1% | 16.2% | 5.9% | 53.7% | 34.7% | 36.7% | 34.9% | 9.3% | 11.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 112.3 | 93.5 | 52.7 | 88.5 | 30.8 | 72.0 | 50.6 | 118.6 | 120.7 | 212.4 |
| Days of inventory on hand | — | — | — | 2,226.2 | 2,079.7 | 1,894.6 | 1,037.1 | 249.2 | 64.3 | — |
| Days payables outstanding | 945.6 | 1,113.2 | 308.1 | 293.0 | 62.2 | 62.3 | 58.6 | 55.5 | 22.3 | 32.1 |
| Cash conversion cycle (days) | -833.3 | -1,019.7 | -255.4 | 2,021.6 | 2,048.4 | 1,904.3 | 1,029.1 | 312.3 | 162.7 | 180.3 |
| Receivables turnover | 3.25 | 3.90 | 6.93 | 4.13 | 11.85 | 5.07 | 7.21 | 3.08 | 3.03 | 1.72 |
| Payables turnover | 0.39 | 0.33 | 1.18 | 1.25 | 5.87 | 5.86 | 6.23 | 6.58 | 16.39 | 11.36 |
| Inventory turnover | — | — | — | 0.16 | 0.18 | 0.19 | 0.35 | 1.46 | 5.68 | — |
| Asset turnover | 0.08 | 0.08 | 0.11 | 0.08 | 0.22 | 0.15 | 0.40 | 0.17 | 0.44 | 0.41 |
| Average receivables | $9.86B | $6.69B | $4.71B | $2.66B | $502.2M | $464.0M | $406.4M | $355.2M | $916.3M | $1.21B |
| Average payables | $3.74B | $3.48B | $3.16B | $1.56B | $132.5M | $107.2M | $82.6M | $69.9M | $63.2M | $74.7M |
| Average inventory | — | — | — | $11.85B | $4.43B | $3.26B | $1.46B | $313.7M | $182.3M | $0 |
| Intangibles / total assets | 1.4% | 2.6% | 3.1% | 1.7% | 0.4% | 0.6% | 1.3% | 1.8% | 1.5% | 2.0% |
Computed from APO's annual financial statements (latest annual report filed February 25, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
APO valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Apollo traded at 25.2 times earnings, against a 10-year median of 12.3. Based on the latest twelve months, the trailing P/E is 39.7 and the forward P/E is 11.7. Apollo earned a return on equity of 12.9% in fiscal 2025. It ended the year with $13.4 billion of debt and $248.1 billion in cash and short-term investments, a net cash position of $234.7 billion. It returned $2.1 billion to shareholders: $1.3 billion in dividends and $773.0 million in share buybacks, 28% of free cash flow. The share count rose 230.4% from 184.0M to 607.9M over 9 years.
See the APO income statement, the APO chart for price history, or the APO stock overview for the latest quote and news.
APO key metrics FAQ
What is Apollo's P/E ratio?
Apollo's trailing P/E ratio is 39.7 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 11.7. At the end of fiscal 2025 it was 25.2, compared with a 10-year median of 12.3.
What is Apollo's return on equity?
Apollo's return on equity (ROE) was 12.9% in fiscal 2025: net income of $3.5 billion on average shareholders' equity of $27.2 billion.
How much debt does Apollo have?
Apollo had total debt of $13.4 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.57 and more cash than debt.
What is Apollo's dividend yield?
Apollo's forward dividend yield is 2.03%. Apollo paid $1.3 billion in dividends in fiscal 2025 ($2.14 per share), a payout ratio of 37.2%.
Does Apollo buy back its shares?
Yes. Apollo spent $773.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.6% over the year, to 607.9M..
What is Apollo's free cash flow yield?
Apollo generated $7.5 billion of free cash flow in fiscal 2025, a free cash flow yield of 8.5% on its market value at year-end ($88.0 billion).
What is Apollo's current ratio?
Apollo's current ratio was 0.78 at the end of fiscal 2025: current assets were 0.78 times current liabilities.