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Apollo Global Management APO Incentive fees — Revenue

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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$74.73B-10.4%
Enterprise value$65.2B-19.1%
P/E65.3×+40.6×
P/S2.4×-0.9×

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:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Apollo Global Management’s 10-Q, filed May 7, 2026.

Filed
May 7, 2026, 5:25 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001858681-26-000026
(In millions, except per share data)Three months ended March 31, 2026Three months ended March 31, 2025
Management fees$696$508
Advisory and transaction fees, net306195
Investment income (loss)(77)303
Incentive fees6440
Property management, development and other fees22
1,0111,046
Retirement Services
Premiums217127

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Apollo Global Management's incentive fees — revenue?
Apollo Global Management (APO) reported incentive fees — revenue of $64M in Q1 2026.
How has Apollo Global Management's incentive fees — revenue changed year-over-year?
Apollo Global Management's incentive fees — revenue increased by 60.0% year-over-year, from $40M to $64M.
What is the long-term trend for Apollo Global Management's incentive fees — revenue?
Over 3 years (2022 to 2025), Apollo Global Management's incentive fees — revenue has grown at a 108.6% compound annual growth rate (CAGR), from $27M to $245M.
What does incentive fees — revenue mean?
This metric represents the performance-based fees earned by an alternative asset manager for exceeding specific investment return hurdles or benchmarks. These fees are typically realized upon the successful exit of portfolio investments or the achievement of performance milestones within managed funds. As a key component of the firm's variable revenue stream, it reflects the manager's ability to generate alpha and create value for limited partners.

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