Income StatementBalance SheetCash FlowSegments
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Apollo Global Management Balance Sheet Statement

Assets, liabilities, and shareholders' equity

Apollo Global Management holds $460.95B in total assets. Shareholders' equity is $23.3B against $13.4B in total debt. Cash and equivalents total $20.6B. Based on the Q4 2025 filing.

Total Assets$460.95BTotal Stockholders Equity$23.3BLong Term Debt$13.4BCash And Equivalents$20.6B
Latest FilingQ4 2025
Report Date2026-02-25
Market Cap$74.2B
P/E Ratio21.25
ROE17.2%

Equity

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Additional paid-in capital$15.1B$15.3B$15.5B$15.7B$16.9B$17.0B
Accumulated other comprehensive income (loss)-$3.5B-$5.5B-$4.6B-$3.7B-$2.5B-$2.6B
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively$0.0$0.0$0.0$0.0$0.0$0.0
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding$1.4B$1.4B$1.4B$1.4B$1.4B$1.4B
Retained earnings$4.9B$6.0B$5.6B$5.9B$7.3B$7.6B
Temporary Equity Attributable to Parent$15.0M$16.0M$0.0$0.0$0.0$0.0
Total liabilities and stockholders' equity$368.7B$377.9B$395.0B$419.6B$449.5B$460.9B
Total stockholders' equity$17.9B$17.3B$18.0B$19.3B$23.1B$23.3B

Current Assets

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
AFS and Trading Securities - Unrealized Loss Position (>=12 Months)$65.7B$62.8B$59.9B$58.7B$55.9B$56.0B
AFS and Trading Securities - Unrealized Loss Position (<12 Months) Fair Value$18.3B$41.8B$41.6B$37.3B$30.3B$45.9B
Cash and cash equivalents$17.6B$17.1B$15.5B$15.0B$21.2B$20.6B
Securities Received As Collateral$2.3B$2.2B$2.2B$1.0B$1.0B$1.8B
Restricted cash$967.0M$946.0M$2.2B$1.7B$2.8B$1.4B

Non-Current Assets

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Equity Securities Without Readily Determinable Fair Value - Cumulative Downward Adjustments$358.0M$358.0M$358.0M$101.0M——
Reinsurance recoverables—$8.2B———$10.3B
Present Value of Future Insurance Profits, Net$2.3B$2.2B$2.1B$2.0B$1.9B$1.8B
Total assets$368.7B$377.9B$395.0B$419.6B$449.5B$460.9B

Non-Current Liabilities

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Future policy benefits$53.0B$49.9B$49.9B$49.4B$49.0B$50.3B
Long-term debt$9.8B$10.6B$10.6B$12.1B$12.6B$13.4B
Market risk benefits$4.4B$4.0B$4.4B$4.5B$4.8B$4.9B
Policyholders' account balances$237.9B$247.3B$268.3B$286.2B$302.5B$308.9B
Repurchase agreements (includes VIE balances of $956 and $815)—————$907.0M
Total liabilities$337.1B$346.9B$362.7B$385.7B$409.7B$28.1B

Other

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Effect of changes in instrument-specific credit risk-$95.0M-$157.0M——-$289.0M-$260.0M
Balance in trust account—$26.1B———$33.2B
Payables for repurchase agreements$2.7B$5.7B$3.1B$3.5B$2.8B$6.0B
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax$12.0B$16.3B$14.4B$13.6B$12.2B$12.3B
Gross Unrealized Gains$2.9B$1.3B$1.5B$3.4B$3.9B$3.5B
Total$192.0B$199.9B$210.1B$221.2B$227.7B$228.2B
Available for sale investments$182.2B$184.2B$196.5B$210.3B$218.7B$218.6B
Warrants exercisable (in shares)7.5M7.5M10M7.4M7.4M7.4M
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1—$173.51$82.73$82.73$82.73$82.56
Warrants exercisable (in shares)—2.9M—2.6M——
Common stock, par value (in dollars per share)$0.00$0.00$0.00$0.00$0.00$0.00
Common stock, shares authorized (in shares)90B90B90B90B90B90B
Common stock, shares issued (in shares)565.8M565.7M570.4M572M580.4M579M
Common Stock, Shares, Outstanding565.8M565.7M570.4M572M580.4M579M
Cumulative revenues recognized if existing investments become worthless$5.4B$5.5B$5.5B$5.6B$6.0B$6.0B
Convertible preferred stock, shares issued upon conversion of one unit of stock (in shares)235235235—100100
Debt Instrument, Fair Value Disclosure$9.7B$10.2B$10.2B$11.8B$12.5B$13.1B
Debt Securities, Available-for-Sale, Allowance for Credit Loss$678.0M$709.0M$709.0M$761.0M$783.0M$758.0M
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss$11.0B$14.0B$12.8B$12.3B$11.3B$11.3B
Number of Securities, Greater than 12 months6167.006087.005728.005525.005383.005112.00
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss$599.0M$1.3B$965.0M$939.0M$549.0M$665.0M
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss$11.6B$15.3B$13.8B$13.2B$11.8B$11.9B
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions7058.007745.007495.006857.006278.006492.00
Debt Securities, Available-for-Sale, Unrealized Loss Position$84.0B$104.5B$101.5B$96.0B$86.2B$101.9B
Deferred acquisition costs, deferred sales inducements and value of business acquired$7.0B$7.2B$7.6B$8.0B$8.4B$8.6B
Deferred tax assets, tax credit carryforwards, foreign—$66.0M———$1.7B
Deferred Tax Assets, Valuation Allowance—$75.0M———$251.0M
Net amount after securities collateral$518.0M$23.0M$25.0M$184.0M$217.0M-$209.0M
Off-balance sheet securities collateral$0.0$0.0-$164.0M-$536.0M-$75.0M-$889.0M
Derivative Asset, Including Not Subject To Master Netting Arrangement, After Offset And Deduction, Net Amount$518.0M$23.0M$189.0M$720.0M$292.0M$680.0M
Derivative Asset, Net$4.4B$4.5B$2.8B$3.7B$6.0B$6.4B
Margin cash collateral received from counterparties that was not offset against derivative assets$5.3B$5.9B$4.2B$3.7B$6.2B$5.9B
Securities Collateral&#160;Held&#160;/Pledged&#160;Under Master&#160;Netting Agreements$1.7B$2.2B$1.8B$2.5B$2.4B$2.6B
Margin cash collateral provided to counterparties that was not offset against derivative assets or liabilities$1.1B$1.3B$1.4B$2.0B$2.0B$2.5B
Securities Collateral&#160;Held&#160;/Pledged&#160;Under Master&#160;Netting Agreements$1.7B$2.2B$1.8B$2.5B$2.4B$2.6B
Derivative, gross, assets$7.5B$8.2B$6.2B$6.9B$8.9B$9.2B
Derivatives, gross, liabilities$2.8B$3.6B$3.4B$4.9B$4.9B$5.7B
Derivative Liability$14.8B$14.8B$14.1B$17.2B$19.3B$20.6B
Net amount after securities collateral$73.0M-$12.0M$61.0M-$143.0M-$131.0M-$88.0M
Off-balance sheet securities collateral$1.0M$2.0M$243.0M$209.0M$269.0M$561.0M
Derivative Liability, Including Not Subject To Master Netting Arrangement, After Offset And Deduction, Net Amount-$72.0M$14.0M$182.0M$352.0M$400.0M$649.0M
Total investment funds, including related parties and consolidated VIEs$18.7B$19.6B$20.2B$21.3B$22.6B$26.1B
Percentage of Total1.001.001.001.001.001.00
Market Risk Benefit, after Increase (Decrease) from Instrument-Specific Credit Risk$4.1B$3.7B$4.1B$4.2B$4.6B$4.7B
Market Risk Benefit, after Reinsurance and Cumulative Increase (Decrease) from Instrument-Specific Credit Risk Change$4.0B$3.7B——$4.5B$4.6B
Asset$313.0M$313.0M$285.0M$277.0M$223.0M$214.0M
Market Risk Benefit, before Reinsurance and Cumulative Increase (Decrease) from Instrument-Specific Credit Risk Change$4.0B$3.6B——$4.3B$4.5B
Market Risk Benefit, Reinsurance Recoverable, after Allowance$40.0M$37.0M——$69.0M$73.0M
Noncontrolling interests in subsidiaries$13.7B$13.7B$14.4B$14.5B$16.7B$19.2B
Number of investing strategies2.002.002.002.002.002.00
Performance allocations—$3.3B——$3.6B$3.6B
Policy liabilities$245.4B$253.6B——$309.7B$315.9B
Preferred Stock, Shares Issued28.7M28.7M28.7M28.7M28.7M28.7M
Preferred Stock, Shares Outstanding28.7M28.7M28.7M28.7M28.7M28.7M
Profit Sharing Payable$1.9B$1.9B$1.9B$1.9B$2.1B$2.0B
Interest accrued—$4.0M———$2.0M
Amount that if recognized, would affect the effective tax rate or regulatory liability$10.0M$11.0M$4.0M$4.0M$10.0M$10.0M
Valuation Allowances And Reserves Balance—$75.0M———$251.0M
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure$103.9B$109.6B$115.5B$124.4B$130.7B$135.0B
PNC Risk of Loss$117.4B$124.5B$128.7B$135.8B$146.3B$151.1B

Current Liabilities

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Repurchase Agreements - Gross$1.0B$935.0M$965.0M$189.0M$183.0M$1.1B