Cost of Revenue

Medical costs

Apollo Global Management Medical costs remained flat by 0.0% to $1.11B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 45.2%, from $763.50M to $1.11B. Over 2 years (FY 2023 to FY 2025), Medical costs shows a downward trend with a -44.6% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.

Analysis

StatementIncome Statement
SectionCost of Revenue
CategoryProfitability
SignalLower is better
VolatilityStable
First reportedQ1 2013
Last reportedQ4 2025

How to read this metric

A lower ratio of medical costs to premiums (Medical Loss Ratio) generally indicates better underwriting profitability.

Detailed definition

Expenses related to the provision of healthcare services and the settlement of medical claims for insurance policyholder...

Peer comparison

Specific to health insurance providers; not applicable to traditional banking institutions.

Metric ID: is_unh_medical_costs

Historical Data

3 years
 FY'23FY'24FY'25
Value$14.43B$3.05B$4.43B
YoY Change-78.8%+45.2%
Range$3.05B$14.43B
CAGR-44.6%
Avg YoY Growth-16.8%
Median YoY Growth-16.8%

Business Segments

View all
SegmentQ1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Retirement Services$543.00M$1.10B$793.00M$623.00M$541.00M$527.00M$613.00M$2.75B
Total$763.50M$763.50M$763.50M$763.50M$1.11B$1.11B$1.11B$1.11B

Frequently Asked Questions

What is Apollo Global Management's medical costs?
Apollo Global Management (APO) reported medical costs of $1.11B in Q4 2025.
How has Apollo Global Management's medical costs changed year-over-year?
Apollo Global Management's medical costs increased by 45.2% year-over-year, from $763.50M to $1.11B.
What is the long-term trend for Apollo Global Management's medical costs?
Over 2 years (2023 to 2025), Apollo Global Management's medical costs has grown at a -44.6% compound annual growth rate (CAGR), from $14.43B to $4.43B.
What does medical costs mean?
The cost of paying for medical services and claims for insurance members.