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Apollo Global Management

NYSE:APO
Snowflake Description

Mediocre balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
APO
NYSE
$14B
Imp Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Apollo Global Management, LLC is a publicly owned investment manager. The last earnings update was 72 days ago. More info.


Add to Portfolio Compare Print
  • Apollo Global Management is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
APO Share Price and Events
7 Day Returns
-0.8%
NYSE:APO
1.5%
US Capital Markets
1.1%
US Market
1 Year Returns
-2%
NYSE:APO
-4.9%
US Capital Markets
4.7%
US Market
APO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Apollo Global Management (APO) -0.8% 7% 12.4% -2% 119% 28.8%
US Capital Markets 1.5% 3.8% 0.7% -4.9% 53.6% 59.5%
US Market 1.1% 4.3% 2.9% 4.7% 37.7% 43.6%
1 Year Return vs Industry and Market
  • APO outperformed the Capital Markets industry which returned -4.9% over the past year.
  • APO underperformed the Market in United States of America which returned 4.7% over the past year.
Price Volatility
APO
Industry
5yr Volatility vs Market

Value

 Is Apollo Global Management undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Apollo Global Management to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Apollo Global Management.

NYSE:APO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity
= $4.06 * 109.2%
$4.43
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. $4.06
Discount Rate (Cost of Equity) See below 7.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:APO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.65
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.65 (1 + (1- 21%) (20.07%))
0.834
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.834 * 5.96%)
7.7%

Discounted Cash Flow Calculation for NYSE:APO using Excess Returns Model Model

The calculations below outline how an intrinsic value for Apollo Global Management is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:APO Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (109.2% – 7.7%) * $4.06)
$4.12
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $4.12 / (7.7% - 2.73%)
$82.84
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $4.06 + $82.84
$86.9
NYSE:APO Discount to Share Price
Calculation Result
Value per share (USD) From above. $86.90
Current discount Discount to share price of $35.58
= -1 x ($35.58 - $86.90) / $86.90
59.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Apollo Global Management is available for.
Intrinsic value
>50%
Share price is $35.58 vs Future cash flow value of $86.9
Current Discount Checks
For Apollo Global Management to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Apollo Global Management's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Apollo Global Management's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Apollo Global Management's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Apollo Global Management's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:APO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.71
NYSE:APO Share Price ** NYSE (2019-07-16) in USD $35.58
United States of America Capital Markets Industry PE Ratio Median Figure of 91 Publicly-Listed Capital Markets Companies 37.74x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 17.98x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Apollo Global Management.

NYSE:APO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:APO Share Price ÷ EPS (both in USD)

= 35.58 ÷ 0.71

50.36x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Apollo Global Management is overvalued based on earnings compared to the US Capital Markets industry average.
  • Apollo Global Management is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Apollo Global Management's expected growth come at a high price?
Raw Data
NYSE:APO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 50.36x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
Not available
United States of America Capital Markets Industry PEG Ratio Median Figure of 34 Publicly-Listed Capital Markets Companies 2.23x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Apollo Global Management, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Apollo Global Management's assets?
Raw Data
NYSE:APO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $3.81
NYSE:APO Share Price * NYSE (2019-07-16) in USD $35.58
United States of America Capital Markets Industry PB Ratio Median Figure of 174 Publicly-Listed Capital Markets Companies 7.88x
United States of America Market PB Ratio Median Figure of 5,240 Publicly-Listed Companies 1.81x
NYSE:APO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:APO Share Price ÷ Book Value per Share (both in USD)

= 35.58 ÷ 3.81

9.34x

* Primary Listing of Apollo Global Management.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Apollo Global Management is overvalued based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Apollo Global Management's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Apollo Global Management has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Apollo Global Management expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.7%
Expected annual growth in revenue.
Earnings growth vs Low Risk Savings
Is Apollo Global Management expected to grow at an attractive rate?
  • Unable to compare Apollo Global Management's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Apollo Global Management's earnings growth to the United States of America market average as no estimate data is available.
  • Apollo Global Management's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:APO Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:APO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 8.7%
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.5%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:APO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:APO Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,907 4
2020-12-31 1,760 9
2019-12-31 1,602 9
NYSE:APO Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,539 1,065 142
2018-12-31 1,034 814 -60
2018-09-30 1,917 909 319
2018-06-30 2,113 783 357
2018-03-31 2,203 678 387
2017-12-31 2,719 860 595
2017-09-30 2,476 712 577
2017-06-30 2,269 733 477
2017-03-31 2,483 715 560
2016-12-31 2,030 600 388
2016-09-30 1,441 590 230
2016-06-30 1,135 574 174

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Apollo Global Management is high growth as no earnings estimate data is available.
  • Apollo Global Management's revenue is expected to grow by 8.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:APO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Apollo Global Management Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:APO Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
NYSE:APO Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.71
2018-12-31 -0.30
2018-09-30 1.61
2018-06-30 1.82
2018-03-31 1.99
2017-12-31 3.12
2017-09-30 3.06
2017-06-30 2.55
2017-03-31 3.03
2016-12-31 2.11
2016-09-30 1.26
2016-06-30 0.97

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Apollo Global Management is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess Apollo Global Management's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Apollo Global Management has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Apollo Global Management performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Apollo Global Management's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Apollo Global Management's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Apollo Global Management's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Apollo Global Management's 1-year earnings growth is negative, it can't be compared to the US Capital Markets industry average.
Earnings and Revenue History
Apollo Global Management's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Apollo Global Management Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:APO Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,539.25 141.69 1,009.70
2018-12-31 1,033.69 -60.16 854.73
2018-09-30 1,917.05 319.47 1,166.16
2018-06-30 2,112.94 356.84 1,205.73
2018-03-31 2,202.93 386.81 1,161.22
2017-12-31 2,718.93 594.92 1,297.26
2017-09-30 2,476.44 577.20 1,280.58
2017-06-30 2,268.92 476.61 1,199.64
2017-03-31 2,483.05 559.86 1,280.53
2016-12-31 2,030.08 388.02 1,082.01
2016-09-30 1,440.53 229.89 937.60
2016-06-30 1,135.37 174.49 846.08
2016-03-31 828.97 58.58 742.07
2015-12-31 1,011.60 106.00 801.71
2015-09-30 1,093.60 109.76 762.90
2015-06-30 1,121.60 65.87 756.48
2015-03-31 1,344.99 65.13 868.84
2014-12-31 1,537.69 96.16 964.29
2014-09-30 2,057.84 227.34 1,109.04
2014-06-30 2,969.00 396.98 1,493.47
2014-03-31 2,891.04 395.19 1,458.52
2013-12-31 3,704.31 564.76 1,858.21
2013-09-30 4,067.32 572.18 2,083.68
2013-06-30 3,647.65 480.87 2,020.56
2013-03-31 3,359.04 391.45 2,010.46
2012-12-31 2,822.85 262.93 1,931.71
2012-09-30 2,307.80 124.23 1,879.70

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Apollo Global Management has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Apollo Global Management used its assets less efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if Apollo Global Management improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Apollo Global Management's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Apollo Global Management has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Apollo Global Management's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Apollo Global Management's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Apollo Global Management is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Apollo Global Management's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Apollo Global Management's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Apollo Global Management Company Filings, last reported 3 months ago.

NYSE:APO Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,442.24 2,750.05 768.27
2018-12-31 2,451.84 2,216.59 659.81
2018-09-30 2,993.83 2,242.54 908.19
2018-06-30 2,821.98 2,238.93 1,152.40
2018-03-31 2,906.76 2,389.54 1,063.25
2017-12-31 2,897.80 2,366.00 844.66
2017-09-30 2,591.98 2,335.12 975.07
2017-06-30 2,353.19 2,244.29 1,115.53
2017-03-31 2,347.79 2,151.66 1,144.30
2016-12-31 1,867.53 2,140.16 849.01
2016-09-30 1,610.87 2,194.70 980.42
2016-06-30 1,514.71 2,177.32 887.25
2016-03-31 1,186.99 1,880.63 575.62
2015-12-31 1,388.98 1,826.53 669.30
2015-09-30 1,519.42 1,856.75 865.73
2015-06-30 1,598.96 1,862.76 919.52
2015-03-31 5,798.77 15,713.63 1,600.08
2014-12-31 5,943.46 15,151.07 2,293.00
2014-09-30 6,168.91 15,101.68 2,314.21
2014-06-30 6,667.18 13,178.02 2,283.04
2014-03-31 6,786.92 13,278.26 2,180.10
2013-12-31 6,688.72 13,173.96 2,173.29
2013-09-30 6,385.50 12,842.77 2,160.43
2013-06-30 6,237.05 11,572.94 2,720.58
2013-03-31 6,175.70 12,094.44 2,619.60
2012-12-31 5,703.38 12,572.77 2,628.92
2012-09-30 4,992.37 12,039.05 2,336.64
  • Apollo Global Management's level of debt (112.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (195.7% vs 112.6% today).
  • Debt is well covered by operating cash flow (38.7%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on Apollo Global Management's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Apollo Global Management's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Apollo Global Management has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Apollo Global Management's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.14%
Current annual income from Apollo Global Management dividends. Estimated to be 6.88% next year.
If you bought $2,000 of Apollo Global Management shares you are expected to receive $103 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Apollo Global Management's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.42%).
  • Apollo Global Management's dividend is above the markets top 25% of dividend payers in United States of America (3.73%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:APO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 41 Stocks 2.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:APO Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.83 7.00
2020-12-31 2.61 15.00
2019-12-31 2.08 14.00
NYSE:APO Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-01 1.830 5.836
2018-02-01 2.060 6.693
2017-02-03 1.420 5.057
2016-02-29 1.380 7.789
2016-02-03 1.380 9.836
2015-07-29 1.680 9.902
2015-05-07 1.320 6.059
2015-02-27 2.890 13.096
2015-02-05 2.890 12.247
2014-10-30 3.110 13.222
2014-08-11 3.470 14.868
2014-08-06 3.470 14.025
2014-05-12 4.410 16.695
2013-11-08 4.220 13.690
2013-11-07 3.950 12.438
2013-08-08 3.340 11.401
2013-05-07 2.260 9.078
2013-05-06 2.260 8.428
2013-03-01 1.940 8.040
2013-02-08 1.940 8.674
2012-11-09 1.350 7.702
2012-08-02 1.150 8.084
2012-05-08 1.150 9.259
2012-02-10 1.120 8.099
2011-11-03 0.730 5.497
2011-08-09 0.280 2.390
2011-05-12 0.280 1.681

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Apollo Global Management has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Apollo Global Management only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Apollo Global Management's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess Apollo Global Management's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Apollo Global Management afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Apollo Global Management has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Apollo Global Management's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Leon Black
COMPENSATION $252,617
AGE 67
TENURE AS CEO 29.5 years
CEO Bio

Mr. Leon D. Black is the Founder, Chairman, and Chief Executive Officer since 1990 and Director of Apollo Global Management, LLC. Mr. Black serves as the Managing Partner at Apollo Management, L.P., which he founded in 1990 to manage investment capital on behalf of a group of institutional investors, focusing on corporate restructuring, leveraged buyouts, and taking minority positions in growth-oriented companies. Mr. Black founded Lion Advisors L.P. He also co-founded Melanoma Research Alliance and Apollo Real Estate Advisors L.P. He has been the Chairman of the board at Telemundo Group, Inc. since December 30, 1994. Mr. Black serves as Member of International Advisory Board of Russian Direct Investment Fund. Mr. Black also serves as a Director of The Partnership for New York City, Inc. and as a Member of the Board of Directors of The New York City Partnership. He is General Partner of AP Alternative Assets. He is Director of Mount Sinai Children's Center Foundation. Mr. Black is also a Member of the Boards of FasterCures and the Port Authority Task Force. Mr. Black is Co-Chairman of The Museum of Modern Art, Mt. Sinai Hospital, and The Asia Society. He is a member of The Council on Foreign Relations and a Member of the Board of Faster Cures. Mr. Black served as a Managing Director, Head of Mergers and Acquisitions Group and Co-Head of Corporate Finance at New Street Capital Corporation. From 1977 to 1990, Mr. Black worked at Drexel Burnham Lambert Incorporated, where he served as Managing Director, head of the Mergers & Acquisitions Group and Co-Head of the Corporate Finance Department. He was employed at the firm from 1977 to 1990. Mr. Black has vast experience making and managing private equity investments and experience in financing, analyzing and investing in public and private companies. Mr. Black served on the Board of Directors of AAA Guernsey Limited. Previously, Mr. Black served as a Director of Sirius XM Holdings Inc. from June 2001 to January 18, 2013. He also served as a Director of Wind International, Inc. since June 1999, United Rentals, Inc. from January 1999 to June 10, 2008 and Allied Waste Industries, Inc. from May 2000 to March 16, 2006. Mr. Black served as a Director of AMC Entertainment Inc. from April 19, 2001 to December 2004, Vail Resorts Inc., United Rentals (North America), Inc. since January 1999, Sequa Corporation since 1997 and Samsonite International S.A. from 1993 to September 17, 2002. He served as a Director at Nalco Holding Co. from June 2004 to August 2005 and Culligan International Company since September 1995. Mr. Black received an M.B.A. degree from Harvard Business School in 1975 and graduated summa cum laude from Dartmouth College in 1973 with a major in Philosophy and History.

CEO Compensation
  • Leon's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Leon's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Apollo Global Management management team in years:

10.5
Average Tenure
56
Average Age
  • The average tenure for the Apollo Global Management management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Leon Black

TITLE
Founder
COMPENSATION
$253K
AGE
67
TENURE
29.5 yrs

Scott Kleinman

TITLE
Co-President & Lead Partner of Private Equity
COMPENSATION
$45M
AGE
46
TENURE
1.5 yrs

Jim Zelter

TITLE
Co-President
COMPENSATION
$85M
AGE
57
TENURE
1.5 yrs

Martin Kelly

TITLE
CFO & Co-COO
COMPENSATION
$3M
AGE
51
TENURE
7.5 yrs

John Suydam

TITLE
VP, Secretary & Chief Legal Officer
COMPENSATION
$4M
AGE
59
TENURE
13.5 yrs

Howard Widra

TITLE
Partner of Credit
AGE
47

Michael Konigsberg

TITLE
President & Head of Capital Markets

Marc Rowan

TITLE
Co-Founder
COMPENSATION
$293K
AGE
56
TENURE
29.5 yrs

Peter Copses

TITLE
Senior Partner
AGE
61

Josh Harris

TITLE
Co-Founder & Senior MD
COMPENSATION
$346K
AGE
54
Board of Directors Tenure

Average tenure and age of the Apollo Global Management board of directors in years:

8.4
Average Tenure
67
Average Age
  • The tenure for the Apollo Global Management board of directors is about average.
Board of Directors

Leon Black

TITLE
Founder
COMPENSATION
$253K
AGE
67
TENURE
29.5 yrs

Marc Rowan

TITLE
Co-Founder
COMPENSATION
$293K
AGE
56
TENURE
12 yrs

Josh Harris

TITLE
Co-Founder & Senior MD
COMPENSATION
$346K
AGE
54

John Hannan

TITLE
Senior Partner of Credit
AGE
67

Pauline D. Richards

TITLE
Director
COMPENSATION
$304K
AGE
70
TENURE
8.3 yrs

Sanjiv Misra

TITLE
Chairman of the Asia Pacific Advisory Board
AGE
59

Mike Ducey

TITLE
Director
COMPENSATION
$304K
AGE
70
TENURE
8.2 yrs

Buzzy Krongard

TITLE
Director
COMPENSATION
$279K
AGE
82
TENURE
8.5 yrs

Robert Kraft

TITLE
Director
COMPENSATION
$254K
AGE
77
TENURE
5.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Apollo Global Management individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
09. May 19 Buy Alvin Krongard Individual 07. May 19 07. May 19 1,790 $32.41 $58,014
06. Mar 19 Sell Martin Kelly Individual 05. Mar 19 05. Mar 19 -5,000 $29.13 $-145,670
13. Feb 19 Sell Martin Kelly Individual 11. Feb 19 11. Feb 19 -9,800 $29.66 $-290,689
26. Dec 18 Buy Tiger Global Management LLC Company 21. Dec 18 26. Dec 18 1,122,800 $23.83 $26,432,127
07. Dec 18 Buy Tiger Global Management LLC Company 04. Dec 18 06. Dec 18 135,700 $26.67 $3,594,565
20. Nov 18 Buy Tiger Global Management LLC Company 19. Nov 18 19. Nov 18 100,000 $27.54 $2,754,400
19. Nov 18 Buy Alvin Krongard Individual 15. Nov 18 15. Nov 18 1,000 $28.24 $28,240
16. Nov 18 Buy Tiger Global Management LLC Company 14. Nov 18 16. Nov 18 965,000 $28.25 $27,111,309
26. Oct 18 Buy Tiger Global Management LLC Company 24. Oct 18 25. Oct 18 102,193 $28.92 $2,908,524
23. Oct 18 Buy Tiger Global Management LLC Company 22. Oct 18 23. Oct 18 815,000 $29.57 $23,847,996
07. Aug 18 Sell MJH Investments LLC Company 06. Aug 18 06. Aug 18 -30,381 $35.28 $-1,071,842
09. Aug 18 Buy Pauline D. Richards Individual 08. Aug 18 08. Aug 18 1,100 $35.78 $39,355
09. Aug 18 Sell Martin Kelly Individual 08. Aug 18 08. Aug 18 -11,500 $35.66 $-410,039
X
Management checks
We assess Apollo Global Management's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Apollo Global Management has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Apollo Global Management LLC (NYSE:APO): Did It Outperform The Industry?

Below, I will assess Apollo Global Management LLC's (NYSE:APO) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers. … View our latest analysis for Apollo Global Management? … Was APO's recent earnings decline indicative of a tough track record.

Simply Wall St -

Is Apollo Global Management LLC (NYSE:APO) Attractive At This PE Ratio?

Apollo Global Management LLC (NYSE:APO) trades with a trailing P/E of 17.7x, which is higher than the industry average of 16x. … I will break down what the P/E ratio is, how to interpret it and what to watch out for … Check out our latest analysis for Apollo Global Management

Simply Wall St -

At US$030.47, Is It Time To Buy Apollo Global Management LLC (NYSE:APO)?

Apollo Global Management LLC (NYSE:APO). … A question to answer is whether Apollo Global Management's current trading price of $30.47 reflective of the actual value of the? … Let’s take a look at Apollo Global Management’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

How Does Apollo Global Management LLC (NYSE:APO) Fare As A Dividend Stock?

In the past 7 years Apollo Global Management LLC (NYSE:APO) has returned an average of 9.00% per year to investors in the form of dividend payouts. … Does Apollo Global Management tick all the boxes of a great dividend stock? … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:

Simply Wall St -

Apollo Global Management LLC (NYSE:APO): Ex-Dividend Is In 3 Days, Should You Buy?

View our latest analysis for Apollo Global Management Here's how I find good dividend stocks When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is its annual yield among the top 25% of dividend-paying companies? … NYSE:APO Historical Dividend Yield May 13th 18 Does Apollo Global Management pass our checks? … Relative to peers, Apollo Global Management has a yield of 6.80%, which is high for Capital Markets stocks.

Simply Wall St -

Apollo Global Management LLC (NYSE:APO) Is Trading 50% Below Its True Value

NYSE:APO Intrinsic Value Mar 14th 18 The Calculation The main belief for Excess Returns is, the value of the company is how much money it can generate from its current level of equity capital, in excess of the cost of that capital. … The returns in excess of cost of equity is called excess returns: Excess Return Per Share = (Stable Return On Equity – Cost Of Equity) (Book Value Of Equity Per Share) = (65.09% – 8.96%) * $6.86 = $3.85 Excess Return Per Share is used to calculate the terminal value of APO, which is how much the business is expected to continue to generate over the upcoming years, in perpetuity. … This is a common component of discounted cash flow models: Terminal Value Per Share = Excess Return Per Share / (Cost of Equity – Expected Growth Rate) = $3.85 / (8.96% – 2.47%) = $59.27 These factors are combined to calculate the true value of APO's stock: Value Per Share = Book Value of Equity Per Share + Terminal Value Per Share = $6.86 + $59.27 = $66.12 Relative to today's price of $33.01, APO is priced beneath its true value.

Simply Wall St -

Apollo Global Management LLC's (NYSE:APO) Earnings Grew 53.32% In A Year. Was It Better Than Its Long-Term Trend?

See our latest analysis for Apollo Global Management Did APO's recent earnings growth beat the long-term trend and the industry? … For Apollo Global Management, its most recent bottom-line (trailing twelve month) is US$594.92M, which, relative to the previous year's figure, has climbed up by a non-trivial 53.32%. … Since these values may be relatively short-term, I’ve calculated an annualized five-year figure for APO's earnings, which stands at US$202.09M This means that, on average, Apollo Global Management has been able to steadily raise its net income over the last couple of years as well.

Simply Wall St -

Is Apollo Global Management LLC (NYSE:APO) An Attractive Dividend Stock?

View our latest analysis for Apollo Global Management Here's how I find good dividend stocks When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is their annual yield among the top 25% of dividend payers? … NYSE:APO Historical Dividend Yield Feb 1st 18 How does Apollo Global Management fare? … Relative to peers, Apollo Global Management generates a yield of 4.01%, which is high for Capital Markets stocks.Next Steps: Whilst there are few things you may like about Apollo Global Management from a dividend stock perspective, the truth is that overall it probably is not the best choice for a dividend investor.

Simply Wall St -

How Does Apollo Global Management LLC (NYSE:APO)’s Prospect Stack Up Next To Its Financial Peers?

Apollo Global Management LLC (NYSE:APO), a USD$13.89B large-cap, is a capital market firm operating in an industry, which has recently been facing serious existential threats resulting from potential disintermediation and disruption from new technology. … On the stock-level, Apollo Global Management is trading at a lower PE ratio of 11x, making it cheaper than the average capital markets stock. … In terms of returns, Apollo Global Management generated 65.51% in the past year, which is 52.70% over the capital markets sector.

Simply Wall St -

Does Apollo Global Management LLC's (NYSE:APO) PE Ratio Warrant A Buy?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for APO Price per share = $33.47 Earnings per share = $3.057 ∴ Price-Earnings Ratio = $33.47 ÷ $3.057 = 10.9x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … Ideally, we want to compare the stock’s P/E ratio to the average of companies that have similar characteristics as APO, such as size and country of operation. … For example, if you inadvertently compared lower risk firms with APO, then investors would naturally value APO at a lower price since it is a riskier investment.

Simply Wall St -

Company Info

Description

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients. It also manages real estate funds and private equity funds for its clients. The firm invests in the fixed income and alternative investment markets across the globe. Its alternative investments include investment in private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions. Its fixed income investments include income-oriented senior loans, bonds, collateralized loan obligations, structured credit, opportunistic credit, non-performing loans, distressed debt, mezzanine debt, and value oriented fixed income securities. The firm seeks to invest in chemicals, commodities, consumer and retail, oil and gas, metals, mining, agriculture, commodities, distribution and transportation, financial and business services, manufacturing and industrial, media distribution, cable, entertainment and leisure, telecom, technology, natural resources, energy, packaging and materials, and satellite and wireless industries. It seeks to invest in companies based in across North America with a focus on United States, and Europe. The firm also makes investments outside North America, primarily in Western Europe and Asia. It employs a combination of contrarian, value, and distressed strategies to make its investments. The firm seeks to make investments in the range of $10 million and $1.5 billion. The firm seeks to invest in companies with Enterprise value between $200 million to $2.5 billion. The firm conducts an in-house research to create its investment portfolio. It seeks to acquire minority and majority positions in its portfolio companies. Apollo Global Management, LLC was founded in 1990 and is headquartered in New York City, with additional offices in New York City; Bethesda, Maryland; Chicago, Illinois; Los Angeles, California; Purchase, New York; Houston, Texas; London, United Kingdom; Frankfurt, Germany; Central, Hong Kong; Singapore; and Luxembourg.

Details
Name: Apollo Global Management, LLC
APO
Exchange: NYSE
Founded: 1990
$14,246,877,307
$7,131,498,185
402,681,665
Website: http://www.apollo.com
Address: Apollo Global Management, LLC
9 West 57th Street,
43rd Floor,
New York,
New York, 10019,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE APO Class A Shares New York Stock Exchange US USD 30. Mar 2011
LSE 0HGI Class A Shares London Stock Exchange GB USD 30. Mar 2011
BMV APO * Class A Shares Bolsa Mexicana de Valores MX MXN 30. Mar 2011
NYSE APO.PRB 6.375% PFD SHS B New York Stock Exchange US USD 14. Mar 2018
NYSE APO.PRA PFD SERIES A New York Stock Exchange US USD 28. Feb 2017
Number of employees
Current staff
Staff numbers
1,212
Apollo Global Management employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 00:22
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/07/16
Last earnings filing: 2019/05/06
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.