PerpEquities

Equity · Financial services

Is Apollo Global Management (APO) tradable as a perp? Not yet

Apollo Global Management is an investment firm specializing in credit, private equity, and real estate, serving institutional and private investors globally.

Not yet listed on any perp exchange

No perpetual-futures venue lists APO yet. We track it continuously; as soon as the first listing appears, this page becomes a full market page. Until then: fundamentals below and tradable alternatives.

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Company data

Company fundamentals

Updated 3h ago
Market cap
$74.3B
Updated 3h ago
Revenue
$36B
Trailing 12 months
Revenue growth
-28%
Next fiscal year
Profit margin
+5.2%
P/E
27.9
Peer P/E 21.5
Free cash flow
$8B
Trailing 12 months
More metrics
Net income
$1.9B
Trailing 12 months
P/S
2.1
Peer P/E
21.5
Similar listed perps
Revenue estimate
$23.1B
Next fiscal year
Earnings
2026-11-03
Revenue est. $5.9B · Updated 3h ago
Dividend
$0.563
2026-08-19

Fundamental detail

Annual + quarterly
Latest revenue$32B
Net margin+10.9%
Free cash flow$7.5B
Net debt-$5.9B
2020$2.4B
2021$6B
2022$11B
2023$32.6B
2024$26.1B
2025$32B
PeriodRevenueGrowthNet incomeFCF
2020$2.4B-20%$157M-$1.7B
2021$6B+153%$1.8B$999.3M
2022$11B+84%-$2B$3.6B
2023$32.6B+198%$4.9B$6.3B
2024$26.1B-20%$4.4B$3.3B
2025$32B+23%$3.5B$7.5B
PeriodGross marginOperating marginNet marginROEROA
2020+73.3%+38.6%+6.7%+11.0%+0.7%
2021+86.9%+33.2%+30.9%+48.5%+6.0%
2022+91.5%-39.9%-17.9%-29.5%-0.8%
2023+96.9%+18.8%+15.0%+34.8%+1.6%
2024+95.6%+31.8%+16.9%+25.7%+1.2%
2025+95.5%+25.8%+10.9%+15.0%+0.8%
PeriodCashDebtNet debtCurrent ratio
2020$2.4B$14.6B$12.2B1.84
2021$1.4B$14.2B$12.8B0.63
2022$9.5B$7.2B-$2.3B0.73
2023$15.9B$8.1B-$7.8B0.82
2024$16.2B$10.6B-$5.6B0.80
2025$19.2B$13.4B-$5.9B0.78
PeriodMarket capEnterprise valueP/SP/E
2020$11.1B$23.3B4.7111.3
2021$17.1B$29.9B2.99.9
2022$37.3B$35B3.4-18.6
2023$54.2B$46.3B1.711.2
2024$96.8B$91.2B3.722.3
2025$88B$82.1B2.725.9
Q3 2024$7.8B
Q4 2024$5.3B
Q1 2025$5.5B
Q2 2025$6.8B
Q3 2025$9.8B
Q4 2025$9.9B
Q1 2026$5.1B
Q2 2026$11.2B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$7.8B+200%$782M$1.9B
Q4 2024$5.3B-52%$1.4B-$4M
Q1 2025$5.5B-21%$442M$1B
Q2 2025$6.8B+13%$630M$1.3B
Q3 2025$9.8B+26%$1.7B$303M
Q4 2025$9.9B+87%$684M$2.8B
Q1 2026$5.1B-9%-$1.9B$1.6B
Q2 2026$11.2B+64%$1.4B$3.2B
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+96.3%+29.0%+10.1%+4.4%+0.2%
Q4 2024+94.5%+36.4%+27.2%+8.3%+0.4%
Q1 2025+94.1%+27.6%+8.0%+2.5%+0.1%
Q2 2025+95.2%+21.3%+9.2%+3.3%+0.2%
Q3 2025+96.2%+32.3%+17.7%+7.5%+0.4%
Q4 2025+95.8%+21.3%+6.9%+2.9%+0.1%
Q1 2026+91.8%+15.7%-37.7%-9.6%-0.4%
Q2 2026+60.8%+23.2%+12.1%+6.5%+0.3%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$16.7B$9.8B-$6.9B0.83
Q4 2024$16.2B$10.6B-$5.6B0.80
Q1 2025$13.3B$10.6B-$2.7B0.80
Q2 2025$13.2B$12.1B-$1.1B0.80
Q3 2025$18.4B$12.6B-$5.8B0.80
Q4 2025$19.2B$13.4B-$5.9B0.78
Q1 2026$22.6B$14.2B-$8.4B0.78
Q2 2026$26.8B$13.7B-$13.1B3.21
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$73.1B$66.3B9.424.2
Q4 2024$96.5B$90.9B18.317.1
Q1 2025$80.4B$77.7B14.550.3
Q2 2025$83.2B$82.1B12.235.5
Q3 2025$78.5B$72.8B8.011.8
Q4 2025$88B$82.1B8.913.0
Q1 2026$66.3B$57.9B13.1-8.6
Q2 2026$70B$57B6.213.1
Historical value series
Revenue
Q3 2023: $2.6BQ4 2023: $11BQ1 2024: $7BQ2 2024: $6BQ3 2024: $7.8BQ4 2024: $5.3BQ1 2025: $5.5BQ2 2025: $6.8BQ3 2025: $9.8BQ4 2025: $9.9BQ1 2026: $5.1BQ2 2026: $11.2BQ3 2023Q2 2026
Net income
Q3 2023: $658MQ4 2023: $2.8BQ1 2024: $1.4BQ2 2024: $822MQ3 2024: $782MQ4 2024: $1.4BQ1 2025: $442MQ2 2025: $630MQ3 2025: $1.7BQ4 2025: $684MQ1 2026: -$1.9BQ2 2026: $1.4BQ3 2023Q2 2026
EBITDA
Q3 2023: $1.2BQ4 2023: $2.3BQ1 2024: $2.5BQ2 2024: $1.8BQ3 2024: $2.4BQ4 2024: $2.1BQ1 2025: $1.6BQ2 2025: $1.3BQ3 2025: $3.4BQ4 2025: $2.3BQ1 2026: $815MQ2 2026: $3BQ3 2023Q2 2026
Free cash flow
Q3 2023: -$9.7BQ4 2023: $2.1BQ1 2024: $70MQ2 2024: $1.3BQ3 2024: $1.9BQ4 2024: -$4MQ1 2025: $1BQ2 2025: $1.3BQ3 2025: $303MQ4 2025: $2.8BQ1 2026: $1.6BQ2 2026: $3.2BQ3 2023Q2 2026
EPS
Q3 2023: $1.1Q4 2023: $4.65Q1 2024: $2.28Q2 2024: $1.35Q3 2024: $1.29Q4 2024: $2.39Q1 2025: $0.68Q2 2025: $0.99Q3 2025: $2.78Q4 2025: $2.78Q1 2026: -$3.24Q2 2026: $2.15Q3 2023Q2 2026
Cash / Debt
Q3 2023 · Cash: $12.9BQ3 2023 · Debt: $7BQ4 2023 · Cash: $15.9BQ4 2023 · Debt: $8.1BQ1 2024 · Cash: $18.1BQ1 2024 · Debt: $9.6BQ2 2024 · Cash: $16.9BQ2 2024 · Debt: $9.8BQ3 2024 · Cash: $16.7BQ3 2024 · Debt: $9.8BQ4 2024 · Cash: $16.2BQ4 2024 · Debt: $10.6BQ1 2025 · Cash: $13.3BQ1 2025 · Debt: $10.6BQ2 2025 · Cash: $13.2BQ2 2025 · Debt: $12.1BQ3 2025 · Cash: $18.4BQ3 2025 · Debt: $12.6BQ4 2025 · Cash: $19.2BQ4 2025 · Debt: $13.4BQ1 2026 · Cash: $22.6BQ1 2026 · Debt: $14.2BQ2 2026 · Cash: $26.8BQ2 2026 · Debt: $13.7BQ3 2023Q2 2026
CashDebt
Profitability
Q3 2023 · Gross margin: +90.2%Q4 2023 · Gross margin: +97.6%Q1 2024 · Gross margin: +96.2%Q2 2024 · Gross margin: +95.2%Q3 2024 · Gross margin: +96.3%Q4 2024 · Gross margin: +94.5%Q1 2025 · Gross margin: +94.1%Q2 2025 · Gross margin: +95.2%Q3 2025 · Gross margin: +96.2%Q4 2025 · Gross margin: +95.8%Q1 2026 · Gross margin: +91.8%Q2 2026 · Gross margin: +60.8%Q3 2023 · Operating margin: +42.0%Q4 2023 · Operating margin: +19.0%Q1 2024 · Operating margin: +34.2%Q2 2024 · Operating margin: +28.5%Q3 2024 · Operating margin: +29.0%Q4 2024 · Operating margin: +36.4%Q1 2025 · Operating margin: +27.6%Q2 2025 · Operating margin: +21.3%Q3 2025 · Operating margin: +32.3%Q4 2025 · Operating margin: +21.3%Q1 2026 · Operating margin: +15.7%Q2 2026 · Operating margin: +23.2%Q3 2023 · Net margin: +25.4%Q4 2023 · Net margin: +25.0%Q1 2024 · Net margin: +19.7%Q2 2024 · Net margin: +13.7%Q3 2024 · Net margin: +10.1%Q4 2024 · Net margin: +27.2%Q1 2025 · Net margin: +8.0%Q2 2025 · Net margin: +9.2%Q3 2025 · Net margin: +17.7%Q4 2025 · Net margin: +6.9%Q1 2026 · Net margin: -37.7%Q2 2026 · Net margin: +12.1%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth
Q3 2024: +199.5%Q4 2024: -52.2%Q1 2025: -21.2%Q2 2025: +13.2%Q3 2025: +26.4%Q4 2025: +86.7%Q1 2026: -8.9%Q2 2026: +64.5%Q3 2023Q2 2026
Shares outstanding
Q3 2023: 578.8MQ4 2023: 601MQ1 2024: 605.4MQ2 2024: 590.2MQ3 2024: 588.5MQ4 2024: 603MQ1 2025: 593MQ2 2025: 590.4MQ3 2025: 607.8MQ4 2025: 607.9MQ1 2026: 595MQ2 2026: 610MQ3 2023Q2 2026
Valuation
Q3 2023 · P/E: 20.4Q4 2023 · P/E: 4.9Q1 2024 · P/E: 12.2Q2 2024 · P/E: 21.8Q3 2024 · P/E: 24.2Q4 2024 · P/E: 17.1Q1 2025 · P/E: 50.3Q2 2025 · P/E: 35.5Q3 2025 · P/E: 11.8Q4 2025 · P/E: 13.0Q1 2026 · P/E: -8.6Q2 2026 · P/E: 13.1Q3 2023 · P/S: 20.0Q4 2023 · P/S: 4.9Q1 2024 · P/S: 9.4Q2 2024 · P/S: 11.6Q3 2024 · P/S: 9.4Q4 2024 · P/S: 18.3Q1 2025 · P/S: 14.5Q2 2025 · P/S: 12.2Q3 2025 · P/S: 8.0Q4 2025 · P/S: 8.9Q1 2026 · P/S: 13.1Q2 2026 · P/S: 6.2Q3 2023Q2 2026
P/EP/S
Revenue
2018: $1.1B2019: $2.9B2020: $2.4B2021: $6B2022: $11B2023: $32.6B2024: $26.1B2025: $32B20182025
Net income
2018: -$28.5M2019: $808M2020: $157M2021: $1.8B2022: -$2B2023: $4.9B2024: $4.4B2025: $3.5B20182025
EBITDA
2018: $211.2M2019: $1.6B2020: $953M2021: $5.8B2022: -$3.5B2023: $6.6B2024: $8.8B2025: $8.5B20182025
Free cash flow
2018: $799.5M2019: $1B2020: -$1.7B2021: $999.3M2022: $3.6B2023: $6.3B2024: $3.3B2025: $7.5B20182025
EPS
2018: -$0.32019: $3.712020: $0.442021: $7.322022: -$3.432023: $8.282024: $7.332025: $5.5420182025
Cash / Debt
2018 · Cash: $659.4M2018 · Debt: $2.2B2019 · Cash: $1.6B2019 · Debt: $3.7B2020 · Cash: $2.4B2020 · Debt: $14.6B2021 · Cash: $1.4B2021 · Debt: $14.2B2022 · Cash: $9.5B2022 · Debt: $7.2B2023 · Cash: $15.9B2023 · Debt: $8.1B2024 · Cash: $16.2B2024 · Debt: $10.6B2025 · Cash: $19.2B2025 · Debt: $13.4B20182025
CashDebt
Profitability
2018 · Gross margin: +58.0%2019 · Gross margin: +82.5%2020 · Gross margin: +73.3%2021 · Gross margin: +86.9%2022 · Gross margin: +91.5%2023 · Gross margin: +96.9%2024 · Gross margin: +95.6%2025 · Gross margin: +95.5%2018 · Operating margin: +23.0%2019 · Operating margin: +45.7%2020 · Operating margin: +38.6%2021 · Operating margin: +33.2%2022 · Operating margin: -39.9%2023 · Operating margin: +18.8%2024 · Operating margin: +31.8%2025 · Operating margin: +25.8%2018 · Net margin: -2.6%2019 · Net margin: +27.6%2020 · Net margin: +6.7%2021 · Net margin: +30.9%2022 · Net margin: -17.9%2023 · Net margin: +15.0%2024 · Net margin: +16.9%2025 · Net margin: +10.9%20182025
Gross marginOperating marginNet margin
Revenue growth
2019: +168.2%2020: -19.7%2021: +152.8%2022: +84.3%2023: +197.6%2024: -20.0%2025: +22.7%20182025
Shares outstanding
2018: 199.9M2019: 208.7M2020: 227.5M2021: 236.6M2022: 584.7M2023: 588.8M2024: 604M2025: 607.9M20182025
Valuation
2018 · P/E: -81.62019 · P/E: 12.82020 · P/E: 111.32021 · P/E: 9.92022 · P/E: -18.62023 · P/E: 11.22024 · P/E: 22.32025 · P/E: 25.92018 · P/S: 4.52019 · P/S: 3.42020 · P/S: 4.72021 · P/S: 2.92022 · P/S: 3.42023 · P/S: 1.72024 · P/S: 3.72025 · P/S: 2.720182025
P/EP/S

Refreshed 3h ago

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20268.77$23.1B-28%11
FY 202710.74$26.9B-16%11
FY 202812.40$30.7B-4%2
FY 202913.45$8.4B-74%1
Q1 20282.92$7.3B+45%5
Q1 20282.93$7.3B+48%7

Company events

6
2026-11-03EarningsActual - / Estimate 2.28-
2026-08-19Dividend$0.563-
2026-08-04EarningsActual 2.11 / Estimate 2.16Miss
2026-05-19Dividend$0.563-
2026-05-06EarningsActual 1.94 / Estimate 1.89Beat
2026-02-19Dividend$0.51-

Peer comparison

Similar listed perps
NameMarket capP/SP/EProfit marginVenues
NU$70.8B3.719.8+18.6%1LYG$87.2B1.013.8+26.7%1KKR$90.8B4.330.1+15.0%1CME$99.1B14.623.3+63.1%2HOOD$101.2B24.348.7+49.8%30PYPL$46B1.310.1+14.4%13HBAN$34.1B2.412.4+16.6%1SPGI$121.1B7.525.0+30.5%1

Analyst track record

How the analysts covering APO have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings90318
Analysts2033
Buy / hold / sell79 / 11 / 0254 / 64 / 0
Upgrades / downgrades / initiations2 / 0 / 34 / 1 / 11
Price targets hit / missed4 / 80 (5%)75 / 223 (25%)
Avg. return after a rating (TipRanks)-16.2%-10.6%
Best / worst call+10.3% / -31.2%+43.7% / -44.4%

After buy calls on this stock: median 21-day move +2.3% vs S&P 500 +0.1% (n = 255)

Most accurate on this stock

  1. Daniel Fannon · Jefferies100% hit rate on this stockHold · target $162 · Nov 18, 2024
  2. John Staszak · Argus Research100% hit rate on this stockBuy · target $125 · Aug 19, 2024
  3. Brent Dilts · UBS100% hit rate on this stockHold · target $84.00 · Jul 19, 2023

Latest ratings

  • Sep 2, 2026 Ken Worthington (J.P. Morgan): Maintained · Buy · $154 · article
  • Aug 14, 2026 Benjamin Budish (Barclays): Maintained · Buy · $157 · article
  • Aug 10, 2026 Stephen Biggar (Argus Research): Maintained · Buy · $160 · article
  • Aug 7, 2026 Craig Siegenthaler (Bank of America Securities): Maintained · Buy · article
  • Aug 6, 2026 William Katz (TD Cowen): Maintained · Buy · $159 · article
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$100$110$120$130$140$150$160Oct 25 · Buy 12 · Hold 4 · Sell 0Oct 25Nov 25 · Buy 12 · Hold 3 · Sell 0Dec 25 · Buy 13 · Hold 3 · Sell 0Dec 25Jan 26 · Buy 13 · Hold 2 · Sell 0Feb 26 · Buy 13 · Hold 2 · Sell 0Feb 26Mar 26 · Buy 14 · Hold 3 · Sell 0Apr 26 · Buy 12 · Hold 3 · Sell 0Apr 26May 26 · Buy 14 · Hold 2 · Sell 0Jun 26 · Buy 14 · Hold 2 · Sell 0Jun 26Jul 26 · Buy 14 · Hold 2 · Sell 0Aug 26 · Buy 14 · Hold 2 · Sell 0Aug 26Sep 26 · Buy 14 · Hold 2 · Sell 0Oct 25 · avg. target $160Nov 25 · avg. target $160Dec 25 · avg. target $161Jan 26 · avg. target $163Feb 26 · avg. target $157Mar 26 · avg. target $155Apr 26 · avg. target $146May 26 · avg. target $150Jun 26 · avg. target $150Jul 26 · avg. target $149Aug 26 · avg. target $153Sep 26 · avg. target $153Oct 25 · month-end close $124Nov 25 · month-end close $132Dec 25 · month-end close $145Jan 26 · month-end close $135Feb 26 · month-end close $105Mar 26 · month-end close $111Apr 26 · month-end close $129May 26 · month-end close $129Jun 26 · month-end close $118Jul 26 · month-end close $126Aug 26 · month-end close $137Sep 26 · month-end close $128

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Sep 11, 2026 · 90 ratings