Apollo Global Management Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Apollo Global Management Inc reported revenue of $32.0B (+22.7% year on year) and net income of $5.4B (-15.3% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenues | $3.8B | $2.9B | — | — |
| Investment income (loss) | $20.4B | $17.0B | $13.1B | $8.9B |
| Property management, development and other fees | $32.0M | — | — | — |
| Premiums | $2.6B | $1.3B | $12.7B | $11.6B |
| Product charges | $1.1B | $1.0B | $848.0M | $718.0M |
| Investment related gains (losses) | $1.5B | $2.0B | $1.4B | ($12.6B) |
| Revenues of consolidated variable interest entities | $2.5B | $1.8B | — | — |
| Other revenues | $25.0M | $19.0M | $591.0M | ($28.0M) |
| Total Revenues | $32.0B | $26.1B | $32.6B | $11.0B |
| Compensation and benefits | $3.0B | $2.6B | $2.7B | $1.9B |
| Interest expense | $256.0M | $226.0M | $145.0M | $124.0M |
| General, administrative and other | $1.5B | $1.2B | $872.0M | $682.0M |
| Interest sensitive contract benefits | $12.1B | $8.9B | $6.2B | $541.0M |
| Future policy and other policy benefits | $4.4B | $3.1B | $14.4B | $12.3B |
| Market risk benefits remeasurement (gains) losses | $452.0M | ($102.0M) | $404.0M | — |
| Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired | $1.2B | $941.0M | $688.0M | $513.0M |
| Policy and other operating expenses | $2.3B | $2.1B | $1.8B | $1.4B |
| Total Expenses | $25.3B | $19.0B | $27.3B | $17.5B |
| Net gains (losses) from investment activities | ($251.0M) | $58.0M | — | — |
| Net gains (losses) from investment activities of consolidated variable interest entities | $304.0M | $90.0M | — | — |
| Other income (loss), net | ($136.0M) | $155.0M | $136.0M | $38.0M |
| Total Other income (loss) | ($83.0M) | $303.0M | $273.0M | $697.0M |
| Income (loss) before income tax (provision) benefit | $6.7B | $7.4B | $5.6B | ($5.8B) |
| Income tax (provision) benefit | ($1.3B) | ($1.1B) | $923.0M | $1.1B |
| Net income (loss) | $5.4B | $6.4B | $6.5B | ($4.7B) |
| Net (income) loss attributable to non-controlling interests | ($1.9B) | ($1.8B) | ($1.5B) | $1.5B |
| Net income (loss) attributable to Apollo Global Management, Inc. | $3.5B | $4.6B | $5.0B | ($3.2B) |
| Preferred stock dividends | ($97.0M) | ($97.0M) | ($46.0M) | $0 |
| Net income (loss) attributable to Apollo Global Management, Inc. common stockholders, basic | $3.4B | $4.5B | $5.0B | ($3.2B) |
| Net income (loss) attributable to Apollo Global Management, Inc. common stockholders, diluted | $3.4B | $4.5B | $5.0B | ($3.2B) |
| Net income (loss) attributable to common stockholders – Basic (in dollars per share) | $5.58 | $7.39 | $8.32 | -$5.57 |
| Net income (loss) attributable to common stockholders – Diluted (in dollars per share) | $5.54 | $7.33 | $8.28 | -$5.57 |
| Weighted average shares outstanding – Basic (in shares) | 589.5M | 586.1M | 581.4M | 584.7M |
| Weighted average shares outstanding – Diluted (in shares) | 593.7M | 604.0M | 588.8M | 584.7M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Revenues | $1.2B | $1.1B | $1.0B | $918.0M |
| Investment income (loss) | $5.7B | $5.1B | $5.5B | $5.0B |
| Property management, development and other fees | $22.0M | $22.0M | $8.0M | — |
| Premiums | $170.0M | $217.0M | $117.0M | $107.0M |
| Product charges | $299.0M | $281.0M | $292.0M | $274.0M |
| Investment related gains (losses) | $3.0B | ($2.1B) | $2.3B | ($5.0M) |
| Revenues of consolidated variable interest entities | $714.0M | $485.0M | $654.0M | $550.0M |
| Other revenues | $4.0M | $4.0M | $6.0M | $5.0M |
| Total Revenues | $11.2B | $5.1B | $9.8B | $6.8B |
| Compensation and benefits | $927.0M | $711.0M | $761.0M | $602.0M |
| Interest expense | $88.0M | $77.0M | $64.0M | $60.0M |
| General, administrative and other | $479.0M | $439.0M | $409.0M | $370.0M |
| Interest sensitive contract benefits | $5.7B | $1.6B | $4.2B | $3.4B |
| Future policy and other policy benefits | $594.0M | $639.0M | $613.0M | $527.0M |
| Market risk benefits remeasurement (gains) losses | ($24.0M) | $259.0M | $131.0M | ($111.0M) |
| Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired | $350.0M | $337.0M | $355.0M | $292.0M |
| Policy and other operating expenses | $613.0M | $626.0M | $573.0M | $550.0M |
| Total Expenses | $8.7B | $4.7B | $7.1B | $5.7B |
| Net gains (losses) from investment activities | $63.0M | ($112.0M) | $78.0M | ($268.0M) |
| Net gains (losses) from investment activities of consolidated variable interest entities | ($7.0M) | ($15.0M) | $35.0M | $4.0M |
| Other income (loss), net | $17.0M | $30.0M | $33.0M | $13.0M |
| Total Other income (loss) | $73.0M | ($97.0M) | $146.0M | ($251.0M) |
| Income (loss) before income tax (provision) benefit | $2.5B | $283.0M | $2.9B | $845.0M |
| Income tax (provision) benefit | ($396.0M) | ($1.7B) | ($438.0M) | ($3.0M) |
| Net income (loss) | $2.1B | ($1.4B) | $2.5B | $842.0M |
| Net (income) loss attributable to non-controlling interests | ($728.0M) | ($495.0M) | ($725.0M) | ($212.0M) |
| Net income (loss) attributable to Apollo Global Management, Inc. | $1.4B | ($1.9B) | $1.7B | $630.0M |
| Preferred stock dividends | ($25.0M) | ($24.0M) | ($24.0M) | ($25.0M) |
| Net income (loss) attributable to Apollo Global Management, Inc. common stockholders, basic | $1.3B | ($1.9B) | $1.7B | $605.0M |
| Net income (loss) attributable to Apollo Global Management, Inc. common stockholders, diluted | $1.3B | ($1.9B) | $1.7B | $605.0M |
| Net income (loss) attributable to common stockholders – Basic (in dollars per share) | $2.18 | -$3.27 | $2.82 | $1.00 |
| Net income (loss) attributable to common stockholders – Diluted (in dollars per share) | $2.15 | -$3.27 | $2.78 | $0.99 |
| Weighted average shares outstanding – Basic (in shares) | 591.8M | 594.9M | 589.4M | 586.7M |
| Weighted average shares outstanding – Diluted (in shares) | 610.2M | 594.9M | 607.8M | 590.4M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $896.0M | $741.0M | $160.0M | $9.0B |
| Restricted cash and cash equivalents | $1.4B | $946.0M | $1.8B | $1.7B |
| Investments | $39.1B | $227.1B | $212.9B | $178.1B |
| Due from related parties | $663.0M | $584.0M | $449.0M | $465.0M |
| Goodwill | $5.9B | $4.3B | $4.3B | $4.3B |
| Reinsurance recoverable | $10.3B | $8.2B | $4.2B | $4.4B |
| Deferred acquisition costs, deferred sales inducements and value of business acquired | $8.6B | $7.2B | $6.0B | $5.6B |
| Total Assets | $460.9B | $377.9B | $313.5B | $259.3B |
| Due to related parties | $1.1B | $710.0M | — | $998.0M |
| Debt | $13.4B | $10.6B | $8.1B | $6.5B |
| Interest sensitive contract liabilities | $315.9B | $253.6B | $204.7B | $173.7B |
| Future policy benefits | $50.3B | $49.9B | $53.3B | $55.3B |
| Market risk benefits | $4.9B | $4.0B | $3.8B | — |
| Payables for collateral on derivatives and securities to repurchase | $11.1B | $11.7B | $7.5B | $6.7B |
| Total Liabilities | $418.4B | $346.9B | $288.2B | $252.1B |
| Redeemable non-controlling interests | $0 | $16.0M | $12.0M | $1.0B |
| Mandatory Convertible Preferred Stock, 28,749,665 and 28,749,765 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 1.4B | 1.4B | 1.4B | 0 |
| Common Stock, $0.00001 par value, 90,000,000,000 shares authorized, 578,981,398 and 565,738,933 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 0 | 0 | 0 | 0 |
| Additional paid in capital | $17.0B | $15.3B | $15.2B | $15.0B |
| Retained earnings (accumulated deficit) | $7.6B | $6.0B | $3.0B | ($2.3B) |
| Accumulated other comprehensive income (loss) | ($2.6B) | ($5.5B) | ($5.6B) | ($12.3B) |
| Total Apollo Global Management, Inc. Stockholders’ Equity | $23.3B | $17.3B | $14.0B | $397.0M |
| Non-controlling interests | $19.2B | $13.7B | $11.2B | $5.8B |
| Total Equity | $42.5B | $31.0B | $25.2B | $6.2B |
| Total Liabilities, Redeemable non-controlling interests and Equity | $460.9B | $377.9B | $313.5B | $259.3B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $1.4B | $1.1B | $1.5B | $537.0M |
| Restricted cash and cash equivalents | $1.6B | $1.2B | $2.8B | $1.7B |
| Investments | $48.3B | $40.0B | $37.4B | $37.3B |
| Due from related parties | $963.0M | $861.0M | $892.0M | $763.0M |
| Goodwill | $5.9B | $5.9B | $5.9B | $4.3B |
| Reinsurance recoverable | $10.9B | $10.3B | $9.9B | $9.3B |
| Deferred acquisition costs, deferred sales inducements and value of business acquired | $9.3B | $8.8B | $8.4B | $8.0B |
| Total Assets | $494.0B | $467.5B | $449.5B | $419.6B |
| Due to related parties | $1.2B | $1.3B | $1.2B | $760.0M |
| Debt | $13.7B | $14.2B | $12.6B | $12.1B |
| Interest sensitive contract liabilities | $344.6B | $326.5B | $309.7B | $292.2B |
| Future policy benefits | $48.2B | $48.7B | $49.0B | $49.4B |
| Market risk benefits | $5.3B | $5.0B | $4.8B | $4.5B |
| Payables for collateral on derivatives and securities to repurchase | $11.2B | $8.5B | $9.1B | $7.3B |
| Total Liabilities | $452.6B | $428.0B | $409.7B | $385.7B |
| Redeemable non-controlling interests | $0 | $0 | $0 | $0 |
| Mandatory Convertible Preferred Stock, 28,749,227 and 28,749,665 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 1.4B | 1.4B | 1.4B | 1.4B |
| Common Stock, $0.00001 par value, 90,000,000,000 shares authorized, 575,971,752 and 578,981,398 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 0 | 0 | 0 | 0 |
| Additional paid in capital | $16.7B | $16.5B | $16.9B | $15.7B |
| Retained earnings | $6.1B | $5.2B | $7.3B | $5.9B |
| Accumulated other comprehensive income (loss) | ($3.2B) | ($3.1B) | ($2.5B) | ($3.7B) |
| Total Apollo Global Management, Inc. Stockholders’ Equity | $21.0B | $20.0B | $23.1B | $19.3B |
| Non-controlling interests | $20.5B | $19.6B | $16.7B | $14.5B |
| Total Equity | $41.5B | $39.5B | $39.8B | $33.9B |
| Total Liabilities, Redeemable non-controlling interests and Equity | $494.0B | $467.5B | $449.5B | $419.6B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income (loss) | $5.4B | $6.4B | $6.5B | ($4.7B) |
| Equity-based compensation | $789.0M | $721.0M | $1.0B | $540.0M |
| Net investment income | ($1.4B) | ($1.4B) | ($1.1B) | ($1.3B) |
| Net recognized (gains) losses on investments and derivatives | ($3.5B) | ($3.5B) | ($2.1B) | $5.7B |
| Depreciation and amortization | $1.4B | $1.1B | $803.0M | $594.0M |
| Net amortization (accretion) of net investment premiums, discount and other | ($202.0M) | ($123.0M) | $81.0M | $285.0M |
| Policy acquisition costs deferred | ($1.9B) | ($1.5B) | ($1.6B) | ($1.1B) |
| Other non-cash amounts included in net income (loss), net | $593.0M | $92.0M | ($415.0M) | $321.0M |
| Changes in consolidation | ($42.0M) | $248.0M | ($54.0M) | ($482.0M) |
| Purchases of investments by funds and VIEs | ($6.9B) | ($5.6B) | ($5.7B) | ($7.1B) |
| Proceeds from sale of investments by funds and VIEs | $6.7B | $4.7B | $5.5B | $4.0B |
| Interest sensitive contract liabilities | $7.7B | $5.7B | $3.9B | ($1.3B) |
| Future policy benefits, market risk benefits and reinsurance recoverable | ($367.0M) | ($2.0B) | $4.3B | $5.3B |
| Other assets and liabilities, net | ($1.1B) | ($1.6B) | ($4.8B) | $3.0B |
| Net cash provided by operating activities | $7.2B | $3.3B | $6.3B | $3.8B |
| Purchases of investments and contributions to equity method investments | ($9.2B) | ($3.8B) | ($4.7B) | ($4.0B) |
| Purchases of available-for-sale securities | ($93.5B) | ($80.2B) | ($37.3B) | ($36.7B) |
| Purchases of mortgage loans | ($41.4B) | ($28.2B) | ($21.0B) | ($13.0B) |
| Purchases of investment funds | ($4.3B) | ($2.8B) | ($2.7B) | ($6.3B) |
| Purchases of U.S. Treasury securities | ($455.0M) | $0 | ($490.0M) | ($4.9B) |
| Purchases of derivatives instruments and other investments | ($6.2B) | ($5.0B) | ($5.6B) | ($3.0B) |
| Sales, maturities and repayments of investments and distributions from equity method investments | $92.6B | $59.4B | $29.1B | $34.3B |
| Acquisition of subsidiaries, net of cash acquired | $99.0M | — | — | — |
| Other investing activities, net | ($1.7B) | ($1.2B) | $231.0M | ($277.0M) |
| Net cash used in investing activities | ($64.0B) | ($61.8B) | ($42.4B) | ($23.4B) |
| Issuance of debt | $7.2B | $7.9B | $4.9B | $5.7B |
| Repayment of debt | ($4.6B) | ($5.3B) | ($3.8B) | ($4.0B) |
| Redemption of subsidiary equity interests | $0 | $0 | ($575.0M) | — |
| Repurchase of common stock | ($773.0M) | ($890.0M) | ($561.0M) | ($635.0M) |
| Common stock dividends | ($1.2B) | ($1.1B) | ($1.0B) | ($962.0M) |
| Preferred stock dividends | ($97.0M) | ($97.0M) | ($22.0M) | $0 |
| Distributions paid to non-controlling interests | ($1.9B) | ($1.3B) | ($766.0M) | ($1.1B) |
| Contributions from non-controlling interests | $2.9B | $3.1B | $2.9B | $4.8B |
| Distributions to redeemable non-controlling interests | $0 | $0 | ($1.1B) | ($776.0M) |
| Issuance of Mandatory Convertible Preferred Stock, net of issuance costs | $0 | $0 | $1.4B | — |
| Deposits on investment-type policies and contracts | $81.2B | $71.3B | $53.7B | $33.9B |
| Withdrawals on investment-type policies and contracts | ($22.7B) | ($19.1B) | ($14.1B) | ($10.2B) |
| Subsidiary issuance of equity interests to non-controlling interests | $0 | $0 | $632.0M | — |
| Net change in cash collateral posted for derivative transactions and securities to repurchase | $340.0M | $4.1B | $829.0M | ($330.0M) |
| Other financing activities, net | ($178.0M) | ($788.0M) | $257.0M | $2.2B |
| Net cash provided by financing activities | $60.2B | $58.0B | $42.6B | $28.7B |
| Effect of exchange rate changes on cash and cash equivalents | $5.0M | ($3.0M) | $10.0M | ($15.0M) |
| Net increase (decrease) in cash and cash equivalents, restricted cash and cash held at consolidated variable interest entities | $3.5B | ($579.0M) | $6.6B | $9.0B |
| Cash and cash equivalents, restricted cash and cash equivalents, and cash and cash equivalents held at consolidated variable interest entities, beginning of period | $17.1B | $17.7B | $11.1B | $2.1B |
| Cash and cash equivalents, restricted cash and cash equivalents, and cash and cash equivalents held at consolidated variable interest entities, end of period | $20.6B | $17.1B | $17.7B | $11.1B |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income (loss) | $678.0M | ($1.4B) | $4.2B | $1.8B |
| Equity-based compensation | $478.0M | $232.0M | $523.0M | $315.0M |
| Net investment income | ($543.0M) | ($85.0M) | ($1.1B) | ($776.0M) |
| Net recognized (gains) losses on investments and derivatives | ($2.2B) | $1.5B | ($2.8B) | $49.0M |
| Depreciation and amortization | $811.0M | $397.0M | $1.0B | $640.0M |
| Net amortization (accretion) of net investment premiums, discount and other | ($113.0M) | ($65.0M) | ($135.0M) | ($90.0M) |
| Policy acquisition costs deferred | ($939.0M) | ($364.0M) | ($1.5B) | ($957.0M) |
| Other non-cash amounts included in net income (loss), net | $75.0M | ($163.0M) | $357.0M | $228.0M |
| Changes in consolidation | ($63.0M) | $0 | ($23.0M) | ($23.0M) |
| Purchases of investments by funds and VIEs | ($5.9B) | ($3.0B) | ($4.6B) | ($1.7B) |
| Proceeds from sale of investments by funds and VIEs | $5.5B | $3.0B | $2.5B | $1.7B |
| Interest sensitive contract liabilities | $4.7B | $247.0M | $5.9B | $3.0B |
| Future policy benefits, market risk benefits and reinsurance recoverable | ($846.0M) | ($259.0M) | ($1.5B) | ($1.1B) |
| Other assets and liabilities, net | $2.8B | $1.6B | ($350.0M) | ($742.0M) |
| Net cash provided by operating activities | $4.5B | $1.6B | $2.6B | $2.3B |
| Available-for-sale securities | ($45.0B) | ($18.1B) | ($71.0B) | ($47.4B) |
| Mortgage loans | ($19.6B) | ($6.6B) | ($26.0B) | ($17.8B) |
| Investment funds and contributions to equity method investments | ($5.4B) | — | — | — |
| Trading securities, equity securities, derivatives and other investments | ($5.0B) | — | — | — |
| Available-for-sale securities | $32.9B | — | — | — |
| Mortgage loans | $10.0B | — | — | — |
| Investment funds and distributions from equity method investments | $2.0B | — | — | — |
| Trading securities, equity securities, derivatives and other investments | $4.9B | — | — | — |
| Other investing activities, net | $1.2B | $274.0M | ($411.0M) | ($266.0M) |
| Net cash used in investing activities | ($23.9B) | ($8.3B) | ($49.8B) | ($36.5B) |
| Issuance of debt | $5.8B | $3.1B | $4.7B | $2.6B |
| Repayment of debt | ($4.8B) | ($1.4B) | ($2.2B) | ($1.3B) |
| Repurchase of common stock | ($729.0M) | ($632.0M) | ($533.0M) | ($193.0M) |
| Common stock dividends | ($654.0M) | ($312.0M) | ($890.0M) | ($584.0M) |
| Preferred stock dividends | ($49.0M) | ($24.0M) | ($73.0M) | ($49.0M) |
| Distributions paid to non-controlling interests | ($1.4B) | ($891.0M) | ($1.3B) | ($1.0B) |
| Contributions from non-controlling interests | $1.7B | $947.0M | $2.2B | $1.2B |
| Deposits on investment-type policies and contracts | $41.6B | $19.7B | $69.3B | $46.0B |
| Withdrawals on investment-type policies and contracts | ($14.7B) | ($7.8B) | ($16.8B) | ($9.6B) |
| Net change in cash collateral posted for derivative transactions and securities to repurchase | $92.0M | ($2.6B) | ($2.6B) | ($4.4B) |
| Other financing activities, net | $435.0M | ($208.0M) | ($498.0M) | ($570.0M) |
| Net cash provided by financing activities | $27.2B | $9.9B | $51.3B | $32.1B |
| Effect of exchange rate changes on cash and cash equivalents | ($2.0M) | ($1.0M) | $13.0M | $13.0M |
| Net increase (decrease) in cash and cash equivalents, restricted cash and cash held at consolidated variable interest entities | $7.8B | $3.2B | $4.1B | ($2.1B) |
| Cash and cash equivalents, restricted cash and cash equivalents, and cash and cash equivalents held at consolidated variable interest entities, beginning of period | $20.6B | $20.6B | $17.1B | $17.1B |
| Cash and cash equivalents, restricted cash and cash equivalents, and cash and cash equivalents held at consolidated variable interest entities, end of period | $28.4B | $23.7B | $21.2B | $15.0B |
| Cash paid (refunded) for taxes | ($23.0M) | ($157.0M) | — | — |
| Cash paid for interest | $542.0M | $220.0M | $804.0M | $585.0M |
| Purchase of investments | $53.0M | — | $61.0M | — |
| Sale of investments | $83.0M | — | — | — |
Apollo Global Management Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.