Apollo Global Management (APO) FY2014 results: revenue $1.6 billion, down 58.2% on the year
Apollo Global Management, Inc. (APO) reported revenue of $1.6 billion for fiscal 2014, the year ended 31 December 2014, down 58.2% on the year before. Net income was $168 million, down 74.5%, and diluted earnings per share $0.62. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$1.6 billion
-58.2% on the year
FY2009FY2014
Operating margin
33.1%
48.0% a year earlier
FY2009FY2014
Net income
$168 million
-74.5% on the year
FY2009FY2014
Diluted EPS
$0.62
-84.6% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
1,560
3,734
2,860
-58.2%
Operating income
517
1,792
812
-71.2%
Operating margin
33.1%
48.0%
28.4%
Interest expense
22.4
29.3
37.1
-23.5%
Pre-tax income
877
2,482
3,113
-64.7%
Income tax
147
108
65.4
+36.9%
Effective tax rate
16.8%
4.3%
2.1%
Net income
168
659
311
-74.5%
Net margin
10.8%
17.7%
10.9%
Diluted EPS
$0.62
$4.03
$2.06
-84.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
-373
1,134
332
Capital expenditure
5.9
7.6
11.3
-21.5%
Free cash flow
-379
1,127
320
Free cash flow margin
-24.3%
30.2%
11.2%
Cash from investing
13.4
2.7
-151
+406.7%
Cash from financing
486
-1,005
22.0
Depreciation and amortisation
45.1
54.2
10.2
-16.9%
Share-based compensation
126
126
599
+0.1%
Buybacks
0.0
0.0
0.0
Dividends paid
506
584
202
-13.4%
Dividend per share
$3.11
$3.95
$1.35
-21.3%
Diluted shares, weighted
155m
142m
130m
+9.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,786
2,637
2,667
-32.3%
Non-controlling interest
4,157
4,051
3,037
+2.6%
Debt
1,028
750
738
+37.1%
Other liabilities
16,207
15,039
14,196
+7.8%
Total liabilities and equity
23,179
22,478
20,637
+3.1%
Fixed assets
35.9
40.3
53.5
-10.8%
Goodwill
49.2
49.2
48.9
0.0%
Intangible assets
60.0
94.9
138
-36.8%
Cash and equivalents
1,204
1,078
946
+11.7%
Other assets
21,830
21,215
19,450
+2.9%
Total assets
23,179
22,478
20,637
+3.1%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.