APOApollo Global Management, Inc.
Investment Advice
- Revenue
- $32.0B
- 23% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $66.7B
- Employees
- 4,130
- $8M revenue each
- Net debt / EBITDA
- —
- $1.7B net debt
- AI in 10-K
- 2.0
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 1 of 7
- TSR below peersNo0 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo213% of net incomeCash flow under 80% of net income
- Dilutive SBCNo2% of revenueOver 10% of revenue
- Payouts exceed cash flowNo27% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo1% of assetsOver 40% of assets
- Shareholder dissentYes71% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$8M · 93rd pctBottom quartile of its SIC industry
- Quiet on AINo2.0 per 10K words · 55th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$66.7B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$10M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $6.0B | $11.0B | $32.6B | $26.1B | $32.0B | 23% |
| Net income | $1.8B | −$2.0B | $5.0B | $4.5B | $3.4B | 24% |
| Operating cash flow | $1.1B | $3.8B | $6.3B | $3.3B | $7.2B | 123% |
| Stock-based comp | $1.2B | $540M | $1.0B | $721M | $789M | 9.4% |
| Buybacks | $299M | $635M | $561M | $890M | $773M | 13% |
| Dividends | $517M | $962M | $1.0B | $1.1B | $1.2B | 10.0% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Aug 14, 2026 | LDB 2025 LLC | SCHEDULE 13D | 0.5% | Passive |
| Feb 6, 2026 | LDB C LLC | SCHEDULE 13D | 0.5% | Passive |
| Dec 15, 2025 | HARRIS JOSHUA | SCHEDULE 13D/A | 5.9% | Passive |
| Jul 22, 2025 | BLACK LEON D | SCHEDULE 13D/A | 6.8% | Passive |
| Apr 16, 2025 | HARRIS JOSHUA | SCHEDULE 13D/A | 15.1% | Passive |
| Apr 16, 2025 | BLACK LEON D | SCHEDULE 13D/A | 6.9% | Passive |
| Apr 16, 2025 | ROWAN MARC J | SCHEDULE 13D/A | 26.0% | Passive |
| Jan 23, 2025 | LDB 2014 LLC | SCHEDULE 13D/A | 1.2% | Active |
| Jan 22, 2025 | BLACK LEON D | SCHEDULE 13D/A | 7.2% | Active |
| Dec 11, 2024 | ROWAN MARC J | SC 13D/A | 6.1% | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $10M · 7
- Net
- −$10M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 331 | 196 |
| FY2024 | — | — | 372 | 187 |
| FY2023 | — | — | 207 | 135 |
| FY2022 | — | — | 139 | 110 |
| FY2021 | — | — | 153 | 141 |