Apollo Global Management
Combines alternative asset management and credit origination with Athene's retirement-services platform.
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Profile
Manages alternative investments across credit, equity, and real assets, while Athene issues and reinsures retirement savings products. Management and performance fees sit alongside insurance spread income, with a broad credit-origination network serving both managed funds and Athene's portfolio.
Manages alternative investments across credit, equity, and real assets for institutional and individual clients worldwide, earning management, transaction, and performance fees. A broad origination network sources corporate, asset-backed, real estate, and infrastructure financing for managed funds and insurance portfolios. The completed Bridge acquisition added specialized real estate investment capabilities.
Provides retirement savings products through Athene, including annuities, pension risk transfers, funding agreements, and reinsurance. Premiums and other long-dated liabilities are invested largely in fixed-income assets, creating spread income alongside the asset-management fee stream. Results depend on fundraising, deployment, investment performance, credit quality, interest rates, and the cost of policyholder obligations. The integrated model is governed by both investment-adviser and insurance regulation.
Company facts
Categories
Key statistics
Year to date −7.9% · Average volume (30d) 3.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 20, 2026 | HSBC | Initiate | Buy | $145 | ||
| Jul 15, 2026 | Citigroup | Upgrade | Buy | Reduce | ||
| Feb 23, 2026 | RBC Capital | Target | $142 | |||
| Feb 9, 2026 | Goldman Sachs | Target | $155 | $165 | ||
| Dec 11, 2025 | UBS | Target | $186 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $2.16 | $2.11 | −2.3% | $5.65B | $11.15B | +97.4% | +2.92% |
| May 6, 2026Q1 FY26 | $1.89 | $1.94 | +2.6% | $5.19B | $5.06B | −2.5% | −1.34% |
| Feb 9, 2026Q4 FY25 | $2.04 | $2.47 | +21.1% | $4.77B | $9.86B | +106.7% | −1.13% |
| Nov 4, 2025Q3 FY25 | $1.90 | $2.14 | +12.6% | $4.92B | $9.82B | +99.6% | +2.48% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $5.55B | $6.81B | $9.82B | $9.86B | $5.06B | $11.21B | |
| Gross profit | $5.22B | $6.48B | $9.45B | $9.45B | $4.64B | $6.82B | |
| Operating income | $1.53B | $1.45B | $3.17B | $2.11B | $794.0M | $2.61B | |
| Net income | $442.0M | $630.0M | $1.74B | $684.0M | −$1.91B | $1.36B | |
| Diluted EPS | $0.68 | $0.99 | $2.78 | $2.78 | −$3.24 | $2.15 | |
| Gross margin | 94.1% | 95.2% | 96.2% | 95.8% | 91.8% | 60.8% | |
| Operating margin | 27.6% | 21.3% | 32.3% | 21.3% | 15.7% | 23.2% |
Fiscal years (4-quarter sums)FY21 $5.95B · FY22 $10.97B · FY23 $32.64B · FY24 $26.11B · FY25 $32.05B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $26.82B · Total debt $13.73B · Total assets $494.05B · Shareholders' equity $21.01B
Dividends
Raised for 3 straight years — most recently to $0.5625 from $0.51 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 19, 2026 | Aug 19 | Aug 31 | $0.5625 | |
| May 19, 2026 | May 19 | May 29 | $0.5625 | raised from $0.51 |
| Feb 19, 2026 | Feb 19 | Feb 27 | $0.51 | |
| Nov 17, 2025 | Nov 17 | Nov 28 | $0.51 | |
| Aug 18, 2025 | Aug 18 | Aug 29 | $0.51 | |
| May 16, 2025 | May 16 | May 30 | $0.51 | raised from $0.4625 |
| Feb 18, 2025 | Feb 18 | Feb 28 | $0.4625 | |
| Nov 18, 2024 | Nov 18 | Nov 29 | $0.4625 |
Ownership
Shares outstanding 575.97M · Float 450.38M · 78.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Joshua Harris | 34.31M | 6.00% | 13D/A | Oct 16, 2024 |
| BlackRock, Inc. | 33.22M | 5.77% | 13F | Aug 7, 2026 |
| Leon D. Black · other: See remarks. | 30.99M | 5.38% | Form 4 | Oct 24, 2025 |
| Socrates Trust · other: See remarks. | 29.63M | 5.14% | Form 4 | Dec 3, 2025 |
| Vanguard Capital Management LLC | 28.20M | 4.90% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 14, 2026 | Martin Kelly | officer: Chief Financial Officer | −3,000 | $140.85 |
| May 27, 2026 | John P. Zito | officer: Co-President (see Remarks) | −48,644 | $130.66 |
| May 14, 2026 | Martin Kelly | officer: Chief Financial Officer | −7,000 | $134.64 |
| Dec 10, 2025 | Whitney Chatterjee | officer: Chief Legal Officer | −8,500 | $146.03 |
| Dec 1, 2025 | Martin Kelly | officer: Chief Financial Officer | −6,000 | $131.41 |
Peers
- Blackstone
Largest alt manager; spans PE, real estate, credit, and insurance like APO.
- KKR
Closest structural twin: alt manager + insurance, via Global Atlantic.
- Ares Management
Direct-lending heavyweight founded by Apollo alumnus Tony Ressler.
- Brookfield Asset Management
Real-assets giant with Brookfield Reinsurance paralleling Athene.
- The Carlyle Group
Diversified PE house with a growing credit arm and Fortitude insurance link.
- Blue Owl Capital
Permanent-capital direct lender with a fast-growing private credit franchise.
- TPG
Diversified alt manager; Angelo Gordon deal added credit and real estate.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Apollo Global Management | $135.48 | +0.35% | $77.78B | 30.2 | 13.8 | 2.2 | +63.7% |
| Blackstone | $142.86 | +0.35% | $171.97B | 31.6 | 22.2 | 10.7 | +2.4% |
| KKR | $108.40 | −0.21% | $97.58B | 34.2 | 16.3 | 4.6 | −44.8% |
| Ares Management | $142.53 | +0.04% | $46.81B | 59.1 | 21.9 | 7.3 | +5.8% |
| Brookfield Asset Management | $51.52 | −1.14% | $83.22B | 30.3 | 25.6 | 15.4 | +58.7% |
| The Carlyle Group | $49.09 | −0.02% | $17.67B | 51.0 | 11.9 | 4.5 | −29.3% |
| Blue Owl Capital | $12.04 | +0.12% | $18.79B | 101.2 | 13.0 | 6.3 | +7.1% |
| TPG | $53.97 | +0.03% | $20.69B | 62.0 | 16.9 | 4.4 | −31.8% |
| Median | 51.0 | 16.9 | 6.3 | +2.4% |