Apollo Asset Management - Public Comps and Valuation Multiples

Apollo Asset Management Overview

About Apollo Asset Management

Apollo is one of the world's largest alternative asset managers, with $908.4 billion in total assets under management, or AUM, including $685.0 billion in fee-earning assets, at the end of September 2025. The company has two core operating segments: asset management and retirement services. Apollo operates with scale in each of its major product lines—private equity (with $125.6 billion in total AUM and $71.7 billion in fee-earning AUM), real estate/real assets ($59.6 billion/$27.1 billion), and private credit ($723.2 billion/$586.2 billion). Apollo has a distribution profile that is likely not too far off from the industry averages—with 84% of its assets held by institutional investors and 16% by high-net-worth clients.

Founded

2007

HQ

Employees

5.1K+

Website

apollo.com

Sectors

Asset Management
Private Equity

Financials

LTM Revenue $19.5B

LTM EBITDA $6.2B

EV

-$148B

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Apollo Asset Management Financials

As of December 2025, Apollo Asset Management reported last 12-month revenue of $19.5B and EBITDA of $6.2B.

In the same period, Apollo Asset Management achieved $4.9B in LTM net income.

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Apollo Asset Management P&L

In the most recent fiscal year, Apollo Asset Management reported revenue of $26.1B and EBITDA of $8.8B.

Apollo Asset Management expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue	$19.5B	XXX	$26.1B	XXX	XXX	XXX
Gross Profit	n/a	XXX	$25.0B	XXX	XXX	XXX
Gross Margin	n/a	XXX	96%	XXX	XXX	XXX
EBITDA	$6.2B	XXX	$8.8B	XXX	XXX	XXX
EBITDA Margin	32%	XXX	34%	XXX	XXX	XXX
EBIT	$6.0B	XXX	$8.3B	XXX	XXX	XXX
EBIT Margin	31%	XXX	32%	XXX	XXX	XXX
Net Profit	$4.9B	XXX	$4.6B	XXX	XXX	XXX
Net Margin	25%	XXX	18%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Apollo Asset Management including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $19.5B. EBITDA for the last twelve months was $6.2B. In the most recent fiscal year, Apollo Asset Management achieved $26.1B in revenue and $8.8B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2026)	Next Fiscal Year (2027)	Two Years Forward (2028)
Total Revenue	$19.5B	Analyst estimates available to subscribers	$26.1B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	$25.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	95.6% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$6.2B	Analyst estimates available to subscribers	$8.8B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	31.9% EBITDA margin	Analyst estimates available to subscribers	33.9% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$6.0B	Analyst estimates available to subscribers	$8.3B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	30.6% EBIT margin	Analyst estimates available to subscribers	31.8% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$4.9B	Analyst estimates available to subscribers	$4.6B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	25.3% net profit margin	Analyst estimates available to subscribers	17.5% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Apollo Asset Management

This financial data table provides comprehensive performance metrics for Apollo Asset Management, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Apollo Asset Management generated $19.5B in revenue over the last twelve months.
The company achieved $6.2B in EBITDA over the last twelve months.
Net income over the last twelve months reached $4.9B.

Fiscal Year Performance

In the most recent fiscal year, Apollo Asset Management reported $26.1B in total revenue.
Fiscal year EBITDA was $8.8B.
The company maintained a gross profit margin of 95.6% in the most recent fiscal year.
EBITDA margin for the fiscal year was 33.9%.
Net profit margin reached 17.5% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Apollo Asset Management. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Apollo Asset Management Stock Performance

Apollo Asset Management has current market cap of $83.5B, and EV of -$148B.

Market Cap Evolution

Apollo Asset Management Stock Data

As of January 19, 2026, Apollo Asset Management's stock price is $144.

See Apollo Asset Management trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
-$148B	$83.5B	XXX	XXX	XXX	XXX	$7.97

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Apollo Asset Management Valuation Multiples

Apollo Asset Management's trades at -7.6x EV/Revenue multiple, and -23.9x EV/EBITDA.

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Apollo Asset Management Financial Valuation Multiples

As of January 19, 2026, Apollo Asset Management has market cap of $83.5B and EV of -$148B.

Equity research analysts estimate Apollo Asset Management's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Apollo Asset Management has a P/E ratio of 16.9x.

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Market cap (current)	$83.5B	XXX	$83.5B	XXX	XXX	XXX
EV (current)	-$148B	XXX	-$148B	XXX	XXX	XXX
EV/Revenue	-7.6x	XXX	-7.6x	XXX	XXX	XXX
EV/EBITDA	-23.9x	XXX	-23.9x	XXX	XXX	XXX
EV/EBIT	-24.9x	XXX	-24.9x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	16.9x	XXX	16.9x	XXX	XXX	XXX
EV/FCF	n/a	XXX	-45.6x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Apollo Asset Management Margins & Growth Rates

Apollo Asset Management's last 12 month revenue growth is 16%

Apollo Asset Management's revenue per employee in the last FY averaged $5.1M, while opex per employee averaged $3.3M for the same period.

Apollo Asset Management's rule of 40 is 36% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Apollo Asset Management's rule of X is 71% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Apollo Asset Management Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue Growth	16%	XXX	n/a	XXX	XXX	XXX
EBITDA Margin	32%	XXX	32%	XXX	XXX	XXX
EBITDA Growth	18%	XXX	n/a	XXX	XXX	XXX
Rule of 40	36%	XXX	47%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	71%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$5.1M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$3.3M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	64%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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