Income StatementBalance SheetCash FlowSegments
Apollo Global Management logo

Apollo Global Management Cash Flow Statement

Operating, investing, and financing cash movements

Apollo Global Management generated $7.2B in operating cash flow over the trailing twelve months. Based on the Q4 2025 filing.

Net Cash From Operating (TTM)$7.2BNet Cash From Investing (TTM)-$64.0BNet Cash From Financing (TTM)$60.2BDepreciation And Amortization (TTM)$1.4BNet Change In Cash (TTM)$3.6B
Latest FilingQ4 2025
Report Date2026-02-25
Market Cap$74.2B
P/E Ratio21.25
ROE17.2%

Investing

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Acquisitions, net of cash acquired$0.0$0.0-$24.8M-$24.8M-$24.8M-$24.8M
Payments for Derivative Instruments (Investing)$907.0M$2.2B$942.0M$1.6B$2.4B$1.2B
Net cash from investing activities-$14.5B-$16.3B-$16.9B-$19.6B-$13.2B-$14.2B
Purchases of investments$25.1B$17.1B$24.3B$23.1B$23.5B$22.5B
Payment for (Proceeds from) Other Investing Activity-$666.0M$1.1B-$902.0M$1.2B$145.0M$1.3B
Payments to Acquire Held-to-Maturity Securities$0.0$0.0$444.0M$0.0$7.0M$4.0M
Payments To Acquire Investment Funds$572.0M$938.0M$714.0M$879.0M$841.0M$1.8B
Payments To Acquire Investments And Contributions To Equity Method Investments$1.3B$433.0M$1.3B$3.0B$1.7B$3.2B
Payments to notes receivables$7.6B$8.8B$9.0B$8.8B$8.2B$15.4B
Sales, maturities and repayments of investments and distributions from equity method investments$20.3B$14.3B$19.0B$18.9B$23.5B$31.2B

Financing

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Proceeds from minority shareholders$476.0M$656.0M$607.0M$584.0M$1.0B$737.0M
Proceeds from issuance of debt$472.0M$1.8B$294.0M$2.3B$2.1B$2.5B
Repayments of debt$1.3B$765.0M$818.0M$467.0M$914.0M$2.4B
Dividends paid$277.0M$277.0M$278.0M$306.0M$306.0M$311.0M
Cash Flows from Financing Derivatives$1.9B-$3.7B$4.4B-$7.0M-$1.8B-$2.9B
Net cash from financing activities$12.3B$15.7B$14.3B$17.8B$19.2B$8.9B
Repurchases of common stock$453.0M$102.0M$193.0M$0.0$340.0M$240.0M
Payments of Ordinary Dividends, Preferred Stock and Preference Stock$24.0M$24.0M$24.0M$25.0M$24.0M$24.0M
Payments to Noncontrolling Interests$197.0M$440.0M$210.0M$820.0M$285.0M$610.0M
Deposits on investment-type policies and contracts$19.9B$14.3B$25.3B$20.7B$23.3B$11.9B
Other, net-$43.0M-$69.0M-$763.0M$193.0M$72.0M—
Repayments of Annuities and Investment Certificates$4.4B$3.1B$5.2B$4.4B$7.2B$5.8B

Operating

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Other working capital changes$551.0M$543.0M$589.0M$153.0M-$392.0M$760.0M
Depreciation and amortization$281.0M$296.0M$308.0M$332.0M$400.0M$391.0M
Net cash from operating activities$1.9B$0.0$1.0B$1.3B$303.0M$4.7B
Net income$1.8B$1.7B$938.0M$842.0M$2.5B$1.2B
Stock-based compensation$136.0M$243.0M$149.0M$166.0M$208.0M$266.0M
Change in trading and equity securities$1.5B$755.0M$871.0M$848.0M$2.8B$2.3B
Accretion (Amortization) of Discounts and Premiums, Investments$20.0M$76.0M$42.0M$48.0M$45.0M$67.0M
Gain (Loss) On Investments And Derivatives$1.2B$0.0-$306.0M$257.0M$2.8B$718.0M
Increase (Decrease) From Sale Of Investments-$1.6B$0.0-$1.2B-$474.0M-$833.0M-$4.2B
Increase (Decrease) In Consolidation, Operating Activities-$258.0M$0.0$23.0M$0.0$0.0$19.0M
Interest sensitive contract liabilities$1.7B$729.0M$519.0M$2.5B$2.9B$1.8B
Investment Income, Net$340.0M$349.0M$370.0M$406.0M$343.0M$252.0M
Other Noncash Income (Expense)-$66.0M—-$300.0M$72.0M-$129.0M-$236.0M
Policy Acquisition Costs Deferred-$363.0M-$316.0M-$515.0M-$442.0M-$536.0M-$383.0M

Other

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Effect of exchange rate changes on cash$5.0M-$6.0M$3.0M$10.0M$0.0—
Net increase (decrease) in cash-$356.0M-$515.0M-$1.6B-$542.0M$6.2B—

Supplemental

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Income taxes paid$92.0M$409.0M$310.0M$105.0M$112.0M$63.0M
Interest paid$264.0M$194.0M$321.0M$264.0M$219.0M$190.0M
Health care costs payable and other insurance liabilities$79.0M-$834.0M-$289.0M-$784.0M-$448.0M—
Investments, at fair value$217.0M$269.0M-$549.0M$0.0$0.0—
Notes payable——$0.0———
Other liabilities-$189.0M-$32.0M$88.0M$0.0$0.0—
Equity-$84.0M$0.0$56.0M$0.0$0.0—
Debt, at fair value-$114.3M-$114.3M————
Non-controlling interest-$9.0M-$94.0M$442.0M$0.0$0.0—
Other assets$20.0M$89.0M-$14.0M$0.0$0.0—