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Apollo Commercial Real Estate Finance logo

Apollo Commercial Real Estate Finance Balance Sheet Statement

Assets, liabilities, and shareholders' equity

Apollo Commercial Real Estate Finance holds $10.1B in total assets. Cash and equivalents total $126.8M. Based on the Q1 2026 filing.

Total Assets$10.1BTotal Stockholders Equity$1.8BLong Term Debt$773.4MCash And Equivalents$126.8M
Latest FilingQ1 2026
Report Date2026-04-28
Market Cap$1.5B
P/E Ratio11.47
ROE6.91%

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accrued interest$28.3M$31.6M$35M$38.1M$33.9M$33.6M
Accounts Payable And Other Accrued Liabilities$11.6M$11.2M$10.6M$10.6M$13.2M$12.4M
Derivative Liabilities - Fair Value$0—$57.8M$31M$26.8M$0
Dividends payable—$38.3M$38.4M$38.4M—$37.8M
Derivative liabilities——$56.1M$30M$27.4M—

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Additional paid-in capital$2.7B$2.7B$2.7B$2.7B$2.7B$2.7B
Common stock1.4M450M450M450M450M450M
Common Stock Par Value Per Share$0.01$0.01$0.01$0.01$0.01$0.01
Common Stock Shares Issued138.2M138.9M138.9M138.9M138.9M136.7M
Convertible Preferred Stock Authorized Shares50M50M50M50M50M50M
Additional paid-in capital$2.7B$2.7B$2.7B$2.7B$2.7B$2.7B
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$1.4M$1.4M$1.4M$1.4M$1.4M$1.4M
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding$68K$68K$68K$68K$68K$68K
Preferred stock$68K$68K$68K$68K$68K$68K
Preferred Stock Liquidation Preference Value$169.3M$169.3M$169.3M$169.3M$169.3M$169.3M
Preferred Stock Par Value Per Share$0.01$0.01$0.01$0.01$0.01$0.01
Retained earnings-$822.7M-$835M-$852.6M-$840.2M-$849.7M-$861.3M
Share Repurchase Authorization Limit—$131.6M$131.6M$131.6M—$101.4M
Share Repurchase Program - Amount Remaining—$131.6M$131.6M$131.6M—$101.4M
Total liabilities and stockholders' equity$8.4B$8.8B$9.8B$9.5B$9.9B$10.1B
Total stockholders' equity$1.9B$1.9B$1.8B$1.9B$1.9B$1.8B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Fair Value Measurement Disclosure$59.7M$27.7M$10.5M$8.2M$7.5M$18M
Gross Assets/Liabilities$0$27.7M$57.8M$31M$26.8M$0
Accounts Payable Accrued Liabilities And Other Liabilities Of Real Estate Owned$8.8M$10.6M$9.3M$10.6M$13.1M$12.2M
Allowance For Credit Loss As Percent Of Amortized Cost0.5%0.5%4.3%4.4%4.2%4.1%
Allowance For Loan And Lease Losses Real Estate Liability Current Expected Credit Loss$36.8M$40.8M$43.9M$45M$44.5M$41.2M
Common stock, par value (in dollars per share)$0$0$0$0$0$0
Common stock, shares authorized (in shares)$450M$450M$450M$450M$450M$450M
Common stock, shares issued (in shares)$138.2M$138.9M$138.9M$138.9M$138.9M$136.7M
Common Stock, Shares, Outstanding$138.2M$138.9M$138.9M$138.9M$138.9M$136.7M
Credit Loss Allowance Liability On Unfunded Commitments—$6.1M$5.1M$5.8M—$3.7M
Debt Instrument Covenant Debt To Tangible Net Worth Ratio Maximum——400.0%——400.0%
Debt Instrument Covenant Debt To Total Assets Maximum Percentage——83.3%83.3%—83.3%
Debt Instrument Covenant Interest Coverage Ratio Minimum—130.0%130.0%130.0%—130.0%
Debt Instrument Covenant Net Worth Threshold—$600M$600M$600M—$600M
Debt Instrument Covenant Unencumbered Liquidity Threshold—$100M$100M$100M—$100M
Debt Instrument Recourse Debt Percent46.0%45.0%41.0%36.0%34.0%34.0%
Derivative Asset, Subject to Master Netting Arrangement, Liability Offset$1.5M$11.6M$68M$39.1M$34.3M$242K
Derivative asset fair value of collateral$54.4M$13.3M$0$0$0$22M
Derivative, gross, assets$59.7M$27.7M$10.5M$8.2M$7.5M$18M
Net fair value$58.2M$16.2M-$57.6M-$30.9M-$26.8M$17.8M
Derivative Liability$0—$57.8M$31M$26.8M$0
Derivative, Net Liability Position, Aggregate Fair Value——$56.1M$30M$27.4M—
Dividends Payable Including Preferred Stock Dividends$38M$37.8M$37.9M$38.4M$38.7M$37.8M
Equity Contribution Rate—90.0%90.0%90.0%—90.0%
Equity method investments (Note 11)$20.1M——$23.4M$23.8M$24.4M
Financing Receivable Allowance For Credit Loss Funded And Unfunded$36.8M$40.8M$43.9M$45M$44.5M$41.2M
Financing Receivable Allowance For Credit Loss Including Loan Specific Real Estate$373.3M$377.2M$381.3M$374.3M$376.8M$375.5M
Financing Receivable Current Expected Credit Loss Allowance$379.3M$383.3M$386.4M$380M$382.5M$379.2M
Prior$1.6B$2B$1.4B$1.2B$1.1B$2B
Year one$1.2B$447.5M$1.4B$2.3B$3.5B$297.1M
Year four$1.2B$2.1B$2.4B$1.6B$1.3B$546.7M
Year five$425.9M$1.2B$1.3B$1.1B$1.1B$1.3B
Year two$649.6M$1.3B$1.5B$1.5B$1.3B$3.4B
Year three$2.1B$667.9M$705.4M$716.4M$559.2M$1.3B
Financing Receivable Funded Allowancefor Credit Loss$30.8M$34.7M$38.8M$39.3M$38.8M$37.5M
Financing Receivable Nonaccrual Or Cost Recovery Loans Weighted Average Interest Rate0.0%0.0%0.0%0.0%0.0%0.0%
Financing Receivable Specific Allowance For Credit Loss$335M$342.5M$342.5M$335M$338M$338M
Financing Receivable Unfunded Allowance For Credit Loss$5.9M$6.1M$5.1M$5.8M$5.8M$3.7M
Funded Commitments Liability————$38.8M$37.5M
General Allowance For Credit Loss As Percent Of Amortized Cost5.1%4.8%0.5%0.5%0.5%0.5%
General Allowance For Credit Loss Liability On Unfunded$5.9M$6.1M$5.1M$5.8M$5.8M$3.7M
General Current Expected Credit Loss Allowance On Unfunded Commitments$5.9M$6.1M$5.1M$5.8M$5.8M$3.7M
Amount outstanding under the credit facility$462.9M$540.4M$530.5M$779.7M$941.3M$1.1B
Mortgage Loans On Real Estate Commercial And Consumer And Financing Receivable Net$7.1B$7.7B$8.7B$8.3B$8.8B$8.9B
Mortgage Loanson Real Estate Commitmentto Lend Unfunded Amount$840.6M$989.2M$1B$1B$1B$655.4M
Number Of Real Estate Properties—3.003.003.00—3.00
Off-Balance-Sheet, Credit Loss, Liability$5.9M$6.1M$5.1M$5.8M$5.8M$3.7M
Other Assets Collateral Deposited Under Derivative Agreements$0—$56.1M$30M$27.4M$0
Other Assets Loan Proceeds Held By Servicer$50.8M$3.8M$4.5M$12.8M$4.2M$101.7M
Other Assets, Miscellaneous$8.6M$33.1M$33.1M$10.3M$17.8M$24.2M
Preferred stock, liquidation preference, value$169.3M$169.3M$169.3M$169.3M$169.3M$169.3M
Preferred Stock, Par or Stated Value Per Share$0$0$0$0$0$0
Preferred Stock, Shares Authorized$50M$50M$50M$50M$50M$50M
Real Estate Owned, Accumulated Depreciation$23.3M$25.7M$28.3M$31M$34.4M$38.4M
Real Estate Owned Debt————$424.7M$439.2M
Real Estate Owned Deferred Financing Costs————$1.1M$601K
Real Estate Owned Loan Payable————$425.8M$439.8M
Secured Debt Arrangements Weighted Average Haircut26.5%31.4%28.4%26.5%27.1%26.6%
Share Repurchase Program, Remaining Authorized, Amount—$131.6M$131.6M$131.6M—$101.4M
Termination Fee Percent Fee Of Base Management Fee—300.0%300.0%300.0%—300.0%
Unencumbered Assets To Pariu Passau Ratio—1.2%1.2%1.2%—1.2%
Unfunded Commitments Liability$5.9M$6.1M$5.1M$5.8M$5.8M$3.7M

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Allowance for credit losses$30.8M$34.7M$38.8M$39.3M$38.8M$37.5M
Gross loans$7.1B$7.7B$8.7B$8.3B$8.8B$8.9B
Equity method investments$20.1M——$23.4M$23.8M$24.4M
Mortgage loans$7.1B$7.7B$8.6B$8.3B$8.8B$8.9B
Allowance For Loan And Lease Losses Real Estate$30.8M$34.7M$38.8M$39.3M$38.8M$37.5M
Private debt held-for-investment, at amortized cost, net of valuation allowance – $3 and $4$486.8M$499.9M$366.9M$375M$312.7M$301.1M
Fixtures And Equipment Gross————$29.8M$31.6M
Other Assets$138M$97.9M$168.6M$141.9M$144M$208.6M
Real Estate Investment Property, Net————$842.9M$852.1M
Other non-current assets$138M$97.9M$168.6M$141.9M$144M$208.6M
Accumulated depreciation————$34.4M$38.4M
Buildings and improvements————$551M$562.4M
Construction in progress————$267.5M$207.2M
Furniture, fixtures and equipment————$29.8M$31.6M
Land————$296.6M$296.6M
Total assets$8.4B$8.8B$9.8B$9.5B$9.9B$10.1B

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash and cash equivalents$317.4M$166.4M$177.6M$245.9M$139.8M$126.8M
Derivative Assets - Fair Value$59.7M$27.7M$10.5M$8.2M$7.5M$18M
Derivative Collateral Posted (Fair Value)$54.4M$13.3M$0$0$0$22M
Derivative assets$58.2M$16.2M$171K$37K$0$17.8M
Loans held for sale————$0$0
Net Derivative Assets/(Liabilities) After Master Netting$58.2M$16.2M-$57.6M-$30.9M-$26.8M$17.8M

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Debt Instrument Face Amount$462.9M$540.4M$530.5M$779.7M$941.3M$1.1B
Accounts Payable Accrued Liabilities And Other Liabilities$138.2M$100.1M$88.5M$93M$91.5M$109.5M
Debt Related To Real Estate Owned Held For Investment$324.6M$345.6M$376.5M$402.9M$424.7M$439.2M
Other non-current liabilities$0—$57.8M$31M$26.8M$0
Total liabilities$6.5B$6.9B$8B$7.7B$8B$8.3B