Apollo Global Management, Inc.

Listed Company

APO-PACIK 0001858681NYSELarge AcceleratedInvestment AdviceDelawareFY ends Dec 31

Period

FY 2025

Revenue

$32.05B

Net Income

$3.49B

Total Assets

$460.95B

Equity

$23.34B

Shares Out

576.52M

Op. Cash Flow

$7.25B

Business

Apollo Global Management, Inc. is a global alternative asset manager and retirement services provider that manages investments, provides capital solutions and conducts principal investing on behalf of clients and its balance sheet. It offers investment management and advisory services, fundraising and investor relations, capital markets and corporate finance advisory, and retirement savings products including annuities, funding agreements and reinsurance solutions. Its primary reportable segments are Asset Management, Retirement Services (operated through Athene) and Principal Investing. It serves institutional and retail investors worldwide via direct advisory relationships, distribution networks, flow reinsurance, institutional channels and acquisitions.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Premiums	2,628	1,318	12,749	11,638	—
Total Revenues	32,049	26,114	32,644	10,968	5,951
Future policy and other policy benefits	4,433	3,054	14,434	—	—
Total Expenses	25,289	18,982	27,331	15,911	4,113
Income (loss) before income tax (provision) benefit	6,677	7,435	5,586	−4,246	4,861
Income tax (provision) benefit	−1,276	−1,062	923	739	−594
Net income (loss)	5,401	6,373	6,509	−3,507	4,267
Net (income) loss attributable to non-controlling interests	−1,909	−1,796	−1,462	1,546	−2,428
Net income (loss) attributable to Apollo Global Management, Inc.	3,492	4,577	5,047	−1,961	1,839
Preferred stock dividends	−97	−97	−46	0	−37
Net income (loss) attributable to Apollo Global Management, Inc. common stockholders, basic	3,395	4,480	5,001	−1,961	1,802
Net income (loss) attributable to Apollo Global Management, Inc. common stockholders, diluted	3,395	4,480	5,001	−1,961	1,802
Net income (loss) attributable to common stockholders Basic (in dollars per share)	5.58	7.39	8.32	−3.43	7.32
Net income (loss) attributable to common stockholders Diluted (in dollars per share)	5.54	7.33	8.28	−3.43	7.32
Weighted average shares outstanding Basic (in shares)	590	586	581	585	237
Weighted average shares outstanding Diluted (in shares)	594	604	589	585	237

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Goodwill	5,920	4,327	4,329	4,322	117
Reinsurance recoverable	10,282	8,194	4,154	4,358	—
Deferred acquisition costs, deferred sales inducements and value of business acquired	8,634	7,173	5,979	4,466	3,372
Total Assets	460,949	377,895	313,488	257,217	30,502
Debt	13,364	10,588	8,092	6,472	3,134
Interest sensitive contract liabilities	315,889	253,637	204,670	—	—
Future policy benefits	50,264	49,902	53,287	42,110	—
Market risk benefits	4,930	4,028	3,751	2,970	4,813
Total Liabilities	418,434	346,915	288,243	241,819	18,538
Commitments and Contingencies (note 19)	—	—	—	—	—
Redeemable non-controlling interests	0	16	12	1,032	1,770
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	1,398	1,398	1,398	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	0
Additional paid in capital	16,954	15,327	15,249	14,982	2,096
Retained earnings (accumulated deficit)	7,634	6,022	2,972	−1,007	1,144
Accumulated other comprehensive income (loss)	−2,645	−5,494	−5,575	−7,335	−5
Total Apollo Global Management, Inc. Stockholders Equity	23,341	17,253	14,044	6,640	3,789
Non-controlling interests	19,174	13,711	11,189	7,726	6,405
Total Equity	42,515	30,964	25,233	14,366	10,194
Total Liabilities, Redeemable non-controlling interests and Equity	460,949	377,895	313,488	257,217	30,502

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Equity-based compensation	789	721	1,026	540	1,181
Net investment income	−1,371	−1,359	−1,140	−1,306	−3,699
Net recognized (gains) losses on investments and derivatives	−3,472	−3,526	−2,073	5,735	−3,165
Depreciation and amortization	1,431	1,075	803	529	27
Net amortization (accretion) of net investment premiums, discount and other	−202	−123	81	285	0
Policy acquisition costs deferred	−1,876	−1,507	−1,570	−1,127	0
Other non-cash amounts included in net income (loss), net	593	92	−415	321	642
Changes in consolidation	−42	248	−54	−482	−48
Purchases of investments by funds and VIEs	−6,891	−5,591	−5,744	−7,139	−4,725
Proceeds from sale of investments by funds and VIEs	6,685	4,714	5,464	3,995	3,534
Interest sensitive contract liabilities	7,678	5,677	3,917	−1,337	0
Future policy benefits, market risk benefits and reinsurance recoverable	−367	−1,969	4,333	3,901	0
Other assets and liabilities, net	−1,110	−1,572	−4,815	3,381	3,050
Net cash provided by operating activities	7,246	3,253	6,322	3,789	1,064
Purchases of investments and contributions to equity method investments	−9,198	−3,835	−4,650	−3,992	0
Purchases of available-for-sale securities	−93,472	−80,168	−37,263	−36,684	0
Purchases of mortgage loans	−41,406	−28,168	−20,972	−12,951	0
Purchases of investment funds	−4,276	−2,833	−2,678	−6,308	−1,024
Purchases of U.S. Treasury securities	−455	0	−490	−4,939	−4,491
Purchases of derivatives instruments and other investments	−6,178	−5,032	−5,637	−3,008	0
Sales, maturities and repayments of investments and distributions from equity method investments	92,605	59,426	29,052	34,295	4,032
Acquisition of subsidiaries, net of cash acquired	99	0	0	—	—
Other investing activities, net	−1,691	−1,191	231	−277	−69
Net cash used in investing activities	−63,972	−61,801	−42,407	−23,444	−1,552
Issuance of debt	7,218	7,945	4,912	5,745	1,334
Repayment of debt	−4,644	−5,259	−3,780	−4,033	−1,968
Redemption of subsidiary equity interests	0	0	−575	0	0
Repurchase of common stock	−773	−890	−561	−635	−299
Common stock dividends	−1,201	−1,092	−1,012	−962	−517
Preferred stock dividends	−97	−97	−22	0	−37
Distributions paid to non-controlling interests	−1,925	−1,299	−766	−1,050	−1,498
Contributions from non-controlling interests	2,934	3,132	2,863	4,816	2,280
Distributions to redeemable non-controlling interests	0	0	−1,072	−776	0
Issuance of Mandatory Convertible Preferred Stock, net of issuance costs	0	0	1,398	0	0
Deposits on investment-type policies and contracts	81,183	71,323	53,660	33,920	0
Withdrawals on investment-type policies and contracts	−22,657	−19,119	−14,125	−10,209	0
Subsidiary issuance of equity interests to non-controlling interests	0	0	632	0	0
Net change in cash collateral posted for derivative transactions and securities to repurchase	340	4,116	829	−330	0
Other financing activities, net	−178	−788	257	2,224	−187
Net cash provided by financing activities	60,200	57,972	42,638	28,710	109
Effect of exchange rate changes on cash and cash equivalents	5	−3	10	−15	0
Net increase (decrease) in cash and cash equivalents, restricted cash and cash held at consolidated variable interest entities	3,479	−579	6,563	9,040	−379
Cash paid for taxes	590	1,048	358	1,007	121
Cash paid for interest	994	805	720	566	556

Filings

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Frequently asked questions

What is Apollo Global Management, Inc.'s CIK number?

Apollo Global Management, Inc.'s SEC CIK number is 0001858681 (1858681). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Apollo Global Management, Inc.'s SEC filings?

All of Apollo Global Management, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Apollo Global Management, Inc. last report earnings?

Apollo Global Management, Inc. (APO-PA) most recently filed an earnings 8-K with the SEC on May 6, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001858681-26-000021). This is Apollo Global Management, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Apollo Global Management, Inc.'s most recent earnings 8-K?

Apollo Global Management, Inc.'s latest earnings 8-K (Item 2.02) was filed May 6, 2026 under accession 0001858681-26-000021. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Apollo Global Management, Inc.'s latest earnings 8-K →
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