Apollo Global Management (APO) Balance Sheet: Assets & Liabilities

Apollo Global Management (APO) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Apollo Global Management reported total assets of $460.95B and total liabilities of $418.43B. Shareholders' equity was $23.34B, down 24.7% from $30.98B a year earlier. Total debt stood at $13.36B against $248.06B in cash and short-term investments, a net cash position of $234.70B. That puts debt-to-equity at 0.57, compared with 0.48 a year earlier.

Apollo Global Management Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Apollo Global Management, Inc. (APO) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	19.24	16.17	15.93	9.45	1.38	2.45	1.60	0.66	0.48
Short-Term Investments	228.82	189.81	154.32	117.92	0.00	0.00	0.00	0.00	0.36
Cash & Short-Term Investments	248.06	16.17	15.93	127.37	1.38	2.45	1.60	0.66	0.84
Accounts Receivable	10.95	0.08	4.60	4.82	0.49	0.51	0.47	0.40	0.32
Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Assets	1.35	16.94	14.57	12.38	0.71	0.06	0.07	0.05	0.19
Total Current Assets	260.36	43.61	39.85	133.87	2.58	3.02	2.14	1.11	1.35
Non-Current Assets
Property, Plant & Equipment (Net)	0.00	0.00	0.00	0.88	0.58	0.38	0.23	0.02	0.02
Long-Term Investments	157.78	314.59	259.17	0.98	1.35	19.13	5.38	4.29	5.12
Goodwill	5.92	4.33	4.33	4.32	0.12	0.12	0.09	0.09	0.09
Intangible Assets	0.00	0.00	0.00	0.18	0.01	0.02	0.02	0.02	0.02
Other Non-Current Assets	36.90	15.37	10.13	12.38	1.72	0.46	0.20	0.16	0.05
Total Non-Current Assets	200.59	162.19	136.88	123.35	27.92	20.65	6.40	4.88	5.64
Total Assets	460.95	377.90	313.49	257.22	30.50	23.67	8.54	5.99	6.99
Current Liabilities
Accounts Payable	3.86	0.90	1.63	2.98	2.85	0.12	0.09	0.07	0.07
Short-Term Debt	0.00	4.15	1.20	0.04	0.04	0.04	0.05	0.07	0.37
Current Portion of Long-Term Debt	-	4.15	1.20	1.88	-	-	-	-	-
Accrued Liabilities	-	1.89	1.67	1.39	0.13	-	-	-	-
Deferred Revenue	315.89	253.64	204.67	173.62	0.00	0.03	0.08	0.11	0.13
Other Current Liabilities	12.15	324.91	273.45	229.38	1.22	1.45	1.26	0.88	1.18
Total Current Liabilities	331.90	324.91	273.45	184.33	4.11	1.64	1.49	1.13	1.75
Non-Current Liabilities
Long-Term Debt	13.36	10.59	8.09	6.49	13.65	14.58	3.66	2.14	1.99
Other Non-Current Liabilities	73.17	11.42	6.70	51.00	0.78	1.15	0.27	0.15	0.22
Total Non-Current Liabilities	86.54	22.01	14.79	57.49	14.43	15.73	4.01	2.41	2.35
Total Liabilities	418.43	346.92	288.24	241.82	18.54	17.37	5.50	3.54	4.09
Stockholders' Equity
Retained Earnings	7.63	6.02	2.97	-1.01	1.14	0.00	0.00	-0.47	-0.38
Accumulated Other Comprehensive Income	-2.65	-5.49	-5.58	-7.34	0.00	0.00	0.00	0.00	0.00
Additional Paid-in Capital	16.95	15.33	15.25	14.98	2.10	0.88	1.30	1.30	1.58
Minority Interest	19.17	13.73	11.20	8.76	8.18	4.87	1.19	1.08	1.43
Shares Outstanding	0.58	0.57	0.57	0.57	0.25	-	-	-	-
Total Stockholders' Equity	23.34	30.98	25.25	6.64	3.79	1.43	1.85	1.38	1.46
Total Liabilities & Equity	460.95	377.90	313.49	257.22	30.50	23.67	8.54	5.99	6.99

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Apollo Global Management Balance Sheet

How much debt does Apollo Global Management have?

Apollo Global Management had total debt of $13.36B as of Dec 31, 2025, against $248.06B in cash and short-term investments. Its debt-to-equity ratio was 0.57. Total debt was $14.73B a year earlier.

What are Apollo Global Management's total assets?

Apollo Global Management reported total assets of $460.95B as of Dec 31, 2025, up 22.0% from $377.89B a year earlier. Total liabilities were $418.43B.

What is Apollo Global Management's shareholders' equity?

Apollo Global Management's shareholders' equity was $23.34B as of Dec 31, 2025, or about $40.31 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition