Apollo Global Management (APO) Operating Expenses (2021 - 2026)
Apollo Global Management's Operating Expenses came in at $8.74 billion for Q2 2026, up 52.9% from $5.72 billion a year earlier and up 86.8% from the prior quarter.
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Analysis
Apollo Global Management (APO) Operating Expenses (2021 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Apollo Global Management reported Operating Expenses of $28.65 billion, up 46.4% year-over-year; for FY2025, it came in at $25.29 billion, up 33.2% from FY2024.
- Operating Expenses carries a five-year compound annual growth rate of 74.1% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $18.98 billion in FY2024 (-30.5%), $27.33 billion in FY2023 (+71.8%), $15.91 billion in FY2022 (+286.8%) and $4.11 billion in FY2021 (+160.5%).
- The Q2 2026 figure represents the highest quarterly Operating Expenses since Q4 2023.
- Year-over-year, Operating Expenses has increased for five consecutive quarters, with growth averaging 48.6% over the last eight quarters.
- The fastest year-over-year change in Operating Expenses over five years came in Q2 2022 (growth of 630.0%), and the weakest in Q2 2024 (a decline of 64.3%).
- Business Quant data shows APO's Operating Expenses at $4.68 billion (Q1 2026), $8.16 billion (Q4 2025) and $7.07 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 188.55 Bn | 131.07 Bn | - | 5.42 Bn |
| 2 | Spdr Gold Trust | 136.66 Bn | -421.34 Bn | - | 149.76 Mn |
| 3 | Blackstone | 99.46 Bn | 89.44 Bn | - | 2.38 Bn |
| 4 | Brookfield | 95.73 Bn | -87.59 Bn | - | 14.94 Bn |
| 5 | Kkr | 88.30 Bn | 8.45 Bn | - | 5.41 Bn |
| 6 | Brookfield Asset Management | 86.25 Bn | 81.06 Bn | - | 659.00 Mn |
| 7 | Apollo Global Management | 73.37 Bn | -12.79 Bn | 4.14 Bn | 6.21 Bn |
| 8 | Wheaton Precious Metals | 65.10 Bn | 60.52 Bn | 687.86 Mn | 133.83 Mn |
| 9 | Franco Nevada | 50.67 Bn | 48.04 Bn | 451.00 Mn | 5.30 Mn |
| 10 | Ameriprise Financial | 47.34 Bn | 9.24 Bn | 4.89 Bn | 3.69 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 6.21 Bn |
| Jun 30, 2026 | 8.74 Bn |
| Mar 31, 2026 | 4.68 Bn |
| Dec 31, 2025 | 8.16 Bn |
| Sep 30, 2025 | 7.07 Bn |
| Jun 30, 2025 | 5.72 Bn |
| Mar 31, 2025 | 4.34 Bn |
| Dec 31, 2024 | 3.69 Bn |
| Sep 30, 2024 | 5.82 Bn |
| Jun 30, 2024 | 4.58 Bn |
| Mar 31, 2024 | 4.89 Bn |
| Dec 31, 2023 | 9.18 Bn |
| Sep 30, 2023 | 1.75 Bn |
| Jun 30, 2023 | 12.83 Bn |
| Mar 31, 2023 | 3.57 Bn |
| Dec 31, 2022 | 3.65 Bn |
| Sep 30, 2022 | 4.02 Bn |
| Jun 30, 2022 | 5.45 Bn |
| Mar 31, 2022 | 2.78 Bn |
| Dec 31, 2021 | 1.70 Bn |
API Access
Apollo Global Management Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=APO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "APO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=APO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();