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Apollo Global Management APO Asset Management — Basis difference in investments

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Other financials

Income statement

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Revenue$5.1B-8.8%
Net income-$1.9B-531%
EPS (diluted)-$3.27-581%

Balance sheet

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Cash & equivalents$23.7B+53.1%
Total debt$14.2B+34.4%
Total equity$20.0B+11.0%
Total assets$467.53B+18.3%

Cash flow

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Operating cash flow$1.6B+60.1%

Valuation

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Market cap$69.33B-16.5%
Enterprise value$59.8B-25.5%
P/E60.6×+35.9×
P/S2.2×-1.1×

Profitability

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Net margin3.6%-11.0pp

Returns & leverage

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Return on equity6%-15.9pp
Debt / equity0.7×+0.1×

Where this comes from

Reported directly by Apollo Global Management in its filing.

Tagged under the XBRL concept us-gaap:DeferredTaxLiabilitiesInvestments.

The official record: Apollo Global Management’s 10-K, filed February 25, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Apollo Global Management's asset management — basis difference in investments?
Apollo Global Management (APO) reported asset management — basis difference in investments of $317M in Q4 2025.
How has Apollo Global Management's asset management — basis difference in investments changed year-over-year?
Apollo Global Management's asset management — basis difference in investments increased by 25.8% year-over-year, from $252M to $317M.
What does asset management — basis difference in investments mean?
This refers to the difference between the carrying value of investments for financial reporting purposes and their tax basis. These differences often arise from unrealized gains or losses and impact the calculation of deferred taxes.