Explain this page
Arphra AIPlain-English read on Apollo Global Management, Inc.’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $5.95B | $10.97B | $32.64B | $26.11B | $30.3B | $23.04B | $26.55B | $30.21B | $8.43B |
| Cost of revenue | $778M | $927M | $1.03B | $1.14B | $3.49B | $1.49B | $1.73B | $1.95B | $523.43M |
| Gross profit | $5.17B | $10.04B | $31.62B | $24.97B | $26.81B | $22.03B | $24.3B | $28.94B | $7.85B |
| Gross margin | +86.93% | +91.55% | +96.85% | +95.63% | +88.47% | +95.61% | +91.54% | +95.81% | +93.14% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $3.2B | $1.7B | $2.57B | $2.64B | $3.55B | $2.31B | $2.6B | $2.96B | $843.02M |
| Total operating expenses | $3.2B | $14.42B | $25.47B | $16.68B | $16.38B | $15.29B | $17.09B | $20.09B | $5.34B |
| Operating income | $1.98B | -$4.38B | $6.15B | $8.3B | $10.42B | $6.49B | $7.48B | $8.37B | $2.45B |
| Operating margin | +33.20% | -39.89% | +18.83% | +31.78% | +34.39% | +28.16% | +28.17% | +27.72% | +29.14% |
| EBITDA | $5.8B | -$3.5B | $6.65B | $8.85B | $10.49B | $6.96B | $7.81B | $9.16B | $2.45B |
| EBIT | $5.77B | -$4.03B | $5.84B | $7.77B | $9.45B | $6.16B | $7.05B | $7.87B | $2.17B |
| Below the line | |||||||||
| Interest expense | $907M | $124M | $258M | $226M | $326M | $213.83M | $245.63M | $277.11M | $78.66M |
| Interest income | $746M | $354M | $176M | $172M | $83M | $110.73M | $131.72M | $152.48M | $40.36M |
| Other income / expense | $2.89B | $129M | -$560M | -$864M | -$2.69B | — | — | — | — |
| Pre-tax income | $4.86B | -$4.25B | $5.59B | $7.44B | $7.74B | $5.34B | $6.48B | $7.24B | $2.01B |
| Income tax expense | $594M | -$739M | -$923M | $1.06B | $801M | $668.18M | $791.5M | $903.96M | $245.37M |
| Earnings | |||||||||
| Net income | $1.84B | -$1.96B | $4.88B | $4.43B | $4.48B | $3.67B | $4.17B | $4.65B | $1.31B |
| Net income · continuing ops | $4.27B | -$3.51B | $6.51B | $6.37B | $6.94B | $5.16B | $5.82B | $6.57B | $1.85B |
| Net margin | +30.90% | -17.88% | +14.95% | +16.95% | +14.79% | +15.91% | +15.71% | +15.39% | +15.55% |
| EPS · basic | $7.32 | $-3.43 | $8.32 | $7.39 | $7.31 | $9.10 | $10.87 | $12.29 | $13.28 |
| EPS · diluted | $7.32 | $-3.43 | $8.28 | $7.33 | $7.26 | $8.92 | $10.67 | $12.31 | $13.04 |
| EPS · low estimate | — | — | — | — | — | $8.62 | $10.22 | $11.68 | $12.43 |
| EPS · high estimate | — | — | — | — | — | $9.15 | $11.14 | $12.94 | $13.74 |
| Shares · basic | 236.57M | 584.69M | 581.38M | 586.07M | 607.91M | 605.81M | 603.94M | 609.15M | 603.27M |
| Shares · diluted | 236.57M | 584.69M | 588.85M | 604.04M | 607.91M | 613.9M | 609.35M | 603.74M | 607.34M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 5 | 6 | 2 | 5 |
| Analysts (EPS) | — | — | — | — | — | 10 | 10 | 2 | 1 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
Full income statement, balance sheet, and cash-flow history is included with Pro.
Upgrade to Pro