Apollo Global Management (APO) FY2017 results: revenue $2.8 billion, up 33.7% on the year
Apollo Global Management, Inc. (APO) reported revenue of $2.8 billion for fiscal 2017, the year ended 31 December 2017, up 33.7% on the year before. Net income was $629 million, up 56.2%, and diluted earnings per share $3.10. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2018.
Revenue
$2.8 billion
+33.7% on the year
FY2010FY2017
Operating margin
50.9%
43.8% a year earlier
FY2010FY2017
Net income
$629 million
+56.2% on the year
FY2010FY2017
Diluted EPS
$3.10
+46.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
2,772
2,074
1,042
+33.7%
Operating income
1,412
908
211
+55.5%
Operating margin
50.9%
43.8%
20.2%
Interest expense
52.9
43.5
30.1
+21.6%
Pre-tax income
1,770
1,061
377
+66.8%
Income tax
326
90.7
26.7
+259.3%
Effective tax rate
18.4%
8.5%
7.1%
Net income
629
403
134
+56.2%
Net margin
22.7%
19.4%
12.9%
Diluted EPS
$3.10
$2.11
$0.61
+46.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
860
600
583
+43.4%
Capital expenditure
8.5
6.4
6.2
+34.2%
Free cash flow
851
593
576
+43.5%
Free cash flow margin
30.7%
28.6%
55.3%
Cash from investing
-417
-184
-203
Cash from financing
-454
-236
-968
Depreciation and amortisation
18.4
18.7
44.5
-1.9%
Share-based compensation
91.5
103
97.7
-11.2%
Buybacks
18.5
13.4
3.1
+38.0%
Dividends paid
367
239
354
+53.4%
Dividend per share
$1.85
$1.25
$1.96
+48.0%
Diluted shares, weighted
193m
184m
173m
+4.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,463
835
650
+75.2%
Non-controlling interest
1,435
1,032
739
+39.0%
Debt
1,362
1,352
1,025
+0.7%
Other liabilities
2,731
2,410
2,146
+13.3%
Total liabilities and equity
6,991
5,630
4,560
+24.2%
Fixed assets
19.2
25.2
31.6
-23.7%
Goodwill
88.9
88.9
88.9
0.0%
Intangible assets
18.8
22.7
28.6
-17.1%
Cash and equivalents
751
814
613
-7.7%
Other assets
6,113
4,679
3,798
+30.6%
Total assets
6,991
5,630
4,560
+24.2%
10-K for the year ended 31 December 2017, filed 12 February 2018: the filing.