How Apollo Global Management makes money

Period

FY2025

How does Apollo Global Management make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Apollo Global Management Inc. (New) · FY2025 · year ended 2025-12-31

Revenue$32.0BGross profit$32.0B · 100%Cost of revenue$0 · 0%Operating income$6.8B · 21%Operating expenses$25.3B · 79%Other opex$25.3B · 79%Pre-tax income$4.8B · 15%Other expense$2.0B · 6%Net income$3.5B · 11%Income tax$1.3B · 4%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.