How does Apollo Global Management (APO) make money?

Apollo Global Management (APO) generates revenue primarily from Retirement Services Segment, which accounted for 85.1% of total revenue in TTM through Q1 2026. The company reported $29.7B in revenue and converted 7.2% of it into net profit, equivalent to roughly $2.15B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Apollo Global Management (APO)?

Apollo Global Management (APO) reported a gross profit margin of 89.3% in TTM through Q1 2026, equivalent to $26.5B in gross profit on $29.7B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Apollo Global Management (APO)?

Apollo Global Management (APO) reported an operating profit margin of 31.1% in TTM through Q1 2026, equivalent to $9.22B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Apollo Global Management (APO)?

Apollo Global Management (APO) reported a net profit margin of 7.2% in TTM through Q1 2026, equivalent to $2.15B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Apollo Global Management (APO) profitable?

Yes. Apollo Global Management (APO) reported $2.15B in net income for TTM through Q1 2026, with a net profit margin of 7.2%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much free cash flow does Apollo Global Management (APO) generate?

Apollo Global Management (APO) generated $6B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 20.2%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Apollo Global Management (APO)?

Apollo Global Management (APO) had an effective tax rate of 32.9% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Apollo Global Management (APO)?

Apollo Global Management (APO) reports revenue across 2 reportable product segments, led by Retirement Services at 85.1% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Apollo Global Management Makes Money: 2026 Visual Revenue Map

Apollo Global Management (APO) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 7, 2026).

Apollo Global Management discloses geographic revenue only in annual filings. to view the full breakdown.

Apollo Global Management (APO) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Apollo Global Management (APO), TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Retirement Services	$25.3B	85.1%
Asset Management	$4.43B	14.9%
Total	$29.7B	100%

Retirement Services$25.3B
Asset Management$4.43B
Total$29.7B

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Apollo Global Management (APO) reports revenue across 2 reportable product segments; the largest segment was Retirement Services at 85.1%, followed by Asset Management (14.9%).

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