Apollo Global Management (APO) FY2020 results: revenue $2.4 billion, down 19.7% on the year
Apollo Global Management, Inc. (APO) reported revenue of $2.4 billion for fiscal 2020, the year ended 31 December 2020, down 19.7% on the year before. Net income was $157 million, down 81.4%, and diluted earnings per share $0.44. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$2.4 billion
-19.7% on the year
FY2013FY2020
Operating margin
33.0%
42.3% a year earlier
FY2013FY2020
Net income
$157 million
-81.4% on the year
FY2013FY2020
Diluted EPS
$0.44
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
2,354
2,932
1,093
-19.7%
Operating income
776
1,241
190
-37.4%
Operating margin
33.0%
42.3%
17.4%
Interest expense
133
98.4
59.4
+35.4%
Pre-tax income
554
1,408
105
-60.7%
Income tax
86.0
-129
86.0
Effective tax rate
15.5%
-9.2%
81.7%
Net income
157
843
-10.4
-81.4%
Net margin
6.7%
28.8%
-0.9%
Diluted EPS
$0.44
n/a
-$0.30
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-1,616
1,083
814
Capital expenditure
59.6
39.5
14.7
+50.8%
Free cash flow
-1,676
1,043
800
Free cash flow margin
-71.2%
35.6%
73.1%
Cash from investing
-838
-264
-247
Cash from financing
3,299
140
-752
+2,261.5%
Depreciation and amortisation
19.0
15.8
15.2
+20.6%
Share-based compensation
213
190
173
+12.4%
Buybacks
92.0
111
90.9
-16.9%
Dividends paid
550
435
407
+26.2%
Dividend per share
$2.31
$2.02
$1.93
+14.4%
Diluted shares, weighted
228m
n/a
200m
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,429
1,852
1,376
-22.8%
Non-controlling interest
4,084
1,186
1,076
+244.4%
Redeemable equity
783
0.0
n/a
Debt
3,155
2,651
1,360
+19.0%
Other liabilities
14,218
2,853
2,179
+398.3%
Total liabilities and equity
23,669
8,542
5,992
+177.1%
Fixed assets
80.0
42.0
20.0
+90.5%
Goodwill
117
93.9
88.9
+24.5%
Intangible assets
23.6
20.6
18.9
+14.4%
Cash and equivalents
1,556
1,556
610
-0.0%
Other assets
21,893
6,829
5,254
+220.6%
Total assets
23,669
8,542
5,992
+177.1%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.