Apollo Global Management (APO) FY2019 results: revenue $2.9 billion, up 168.2% on the year
Apollo Global Management, Inc. (APO) reported revenue of $2.9 billion for fiscal 2019, the year ended 31 December 2019, up 168.2% on the year before. Net income was $843 million. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$2.9 billion
+168.2% on the year
FY2012FY2019
Operating margin
42.3%
17.4% a year earlier
FY2012FY2019
Net income
$843 million
FY2012FY2019
Diluted EPS
n/a
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,932
1,093
2,772
+168.2%
Operating income
1,241
190
1,412
+552.5%
Operating margin
42.3%
17.4%
50.9%
Interest expense
98.4
59.4
52.9
+65.7%
Pre-tax income
1,408
105
1,770
+1,237.3%
Income tax
-129
86.0
326
Effective tax rate
-9.2%
81.7%
18.4%
Net income
843
-10.4
629
Net margin
28.8%
-0.9%
22.7%
Diluted EPS
n/a
-$0.30
$3.10
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,083
814
860
+33.0%
Capital expenditure
39.5
14.7
8.5
+167.9%
Free cash flow
1,043
800
851
+30.5%
Free cash flow margin
35.6%
73.1%
30.7%
Cash from investing
-264
-247
-417
Cash from financing
140
-752
-454
Depreciation and amortisation
15.8
15.2
18.4
+3.4%
Share-based compensation
190
173
91.5
+9.5%
Buybacks
111
90.9
18.5
+21.8%
Dividends paid
435
407
367
+7.0%
Dividend per share
$2.02
$1.93
$1.85
+4.7%
Diluted shares, weighted
n/a
200m
193m
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,852
1,376
1,463
+34.6%
Non-controlling interest
1,186
1,076
1,435
+10.3%
Redeemable equity
0.0
n/a
n/a
Debt
2,651
1,360
1,362
+94.8%
Other liabilities
2,853
2,179
2,731
+30.9%
Total liabilities and equity
8,542
5,992
6,991
+42.6%
Fixed assets
42.0
20.0
19.2
+110.2%
Goodwill
93.9
88.9
88.9
+5.7%
Intangible assets
20.6
18.9
18.8
+9.1%
Cash and equivalents
1,556
610
751
+155.2%
Other assets
6,829
5,254
6,113
+30.0%
Total assets
8,542
5,992
6,991
+42.6%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.