← Research LibraryThe BriefFY2025 ended December 31, 2025 · headline figures audited against SEC data
Revenue back above $32B on $47.9B of annuity inflows, while profit fell for a second year
The read at a glance✓ Audited against SEC data
- Growth — Revenue $32.05B, up from $26.11B; total assets under management $938BOK
- Profitability — Net income $3.49B, down from $4.58B and from $5.05B in 2023Watch
- Balance sheet — Retirement business net flows of $47.9B grew the investment portfolioNote
- Accounting quality — Standard accounting screens are not applied to this company's structureNote
- Capital allocation — $1.20B dividends and $0.77B buybacksNote
- Scale — Credit strategy $749B of assets under management; equity strategy $189BOK
What happened
Apollo reported revenue of $32.05 billion against $26.11 billion the prior year, while net income fell to $3.49 billion from $4.58 billion. Total assets under management stood at $938 billion at year end. The Retirement Services business alone produced revenues of $27.0 billion, up $5.1 billion.
Where the revenue comes from
Fiscal 2025, as Apollo Global Management, Inc. reports it. History and quarterly detail are in the app.
- Management fees$3.4B
- Whole Life$1.6B
- Advisory and transaction fees, net$1.2B
- Payout Annuities with Life Contingencies$1.0B
- Incentive fees$245.0M
Leadership changes
From Apollo Global Management, Inc.'s own filings, the day they're filed.
- Pauline Richards · member · departureeff. 2025-09-30
- Marc Rowan · Board Chair On April 17 · appointmenteff. 2025-04-21
- Gary Cohn · Director · departureeff. 2025-04-21
Latest filings
- 8-K · Company announcement2026-09-21
- 8-K · Company announcement2026-08-24
- 8-K · Company announcement2026-08-13
- 8-K · Company announcement2026-08-11
- 10-Q · Quarterly report2026-08-10
In the full recordFree for 14 days
- The business🔒
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- Why it matters🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about Apollo Global Management, Inc., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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