Business Segments · Operating Expenses
Asset Management — Operating Expenses
Apollo Global Management Asset Management — Operating Expenses increased by 14.7% to $1.42B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 30.6%, from $1.08B to $1.42B. Over 4 years (FY 2021 to FY 2025), Asset Management — Operating Expenses shows an upward trend with a 3.9% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
StatementSegment
CategoryEfficiency
SignalLower is better
VolatilityStable
First reportedQ1 2020
Last reportedQ4 2025
Rolls up toTotal Operating Expenses
How to read this metric
Lower operating expenses relative to revenue indicate higher operational efficiency and better margins.
Detailed definition
The total costs incurred to operate the asset management segment, including compensation, administrative overhead, and o...
Peer comparison
Standard operating expense metric used to calculate segment-level operating margins.
Metric ID:
apo_segment_asset_management_operating_expensesHistorical Data
19 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $747.00M | $648.00M | $1.70B | $914.00M | $497.00M | $584.00M | $754.00M | $898.00M | $773.00M | $813.00M | $1.26B | $958.00M | $976.00M | $986.00M | $1.08B | $1.11B | $1.03B | $1.23B | $1.42B |
| QoQ Change | — | -13.3% | +161.7% | -46.1% | -45.6% | +17.5% | +29.1% | +19.1% | -13.9% | +5.2% | +54.4% | -23.7% | +1.9% | +1.0% | +9.9% | +2.7% | -7.3% | +19.6% | +14.7% |
| YoY Change | — | — | — | — | -33.5% | -9.9% | -55.5% | -1.8% | +55.5% | +39.2% | +66.4% | +6.7% | +26.3% | +21.3% | -13.6% | +16.2% | +5.7% | +25.2% | +30.6% |
Range$497.00M – $1.70B
CAGR+15.3%
Avg YoY Growth+11.9%
Median YoY Growth+16.2%
Current Streak2 quarters growth
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Frequently Asked Questions
- What is Apollo Global Management's asset management — operating expenses?
- Apollo Global Management (APO) reported asset management — operating expenses of $1.42B in Q4 2025.
- How has Apollo Global Management's asset management — operating expenses changed year-over-year?
- Apollo Global Management's asset management — operating expenses increased by 30.6% year-over-year, from $1.08B to $1.42B.
- What is the long-term trend for Apollo Global Management's asset management — operating expenses?
- Over 4 years (2021 to 2025), Apollo Global Management's asset management — operating expenses has grown at a 3.9% compound annual growth rate (CAGR), from $4.11B to $4.80B.
- What does asset management — operating expenses mean?
- The total cost of running the asset management business.