Apollo Global Management (APO) FY2024 10-K Annual Report
Apollo Global Management (APO) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Feb 24, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Apollo Global Management FY2024 10-K Analysis
Business Overview
- • Core business: Alternative investment management with significant insurance and pension risk transfer operations
- • Designated as an Internationally Active Insurance Group (IAIG) by Iowa Insurance Division as of Feb 2024, impacting Athene's capital standards
- • Notable legal challenge: Since March 2024, multiple federal class actions against Athene’s pension annuity customers alleging ERISA violations, affecting reputation and inflows
- • New tax regime exposure: Subject to Bermuda Corporate Income Tax starting Jan 2025, imposing 15% corporate tax on subsidiaries, altering prior tax assurances
- • Increasing regulatory and ESG-related compliance demands from US, UK, and EU with varied rules causing complexity and resource allocation challenges
Management Discussion & Analysis
- • Revenue details and YoY change not disclosed in provided text
- • Profitability or margin figures not provided in excerpt
- • Segment performance specifics absent from given content
- • No cash flow, buybacks, dividends, or capex data included
- • Key risk: 10% public equity price decline may reduce income by $617M in 2024 vs $538M in 2023 due to increased equity exposure
Risk Factors
- • Regulatory/legal risk: Dividend payments depend on distributions from subsidiaries meeting surplus and solvency requirements under applicable insurance laws
- • Macroeconomic threat: $291B investments in Athene exposed to shifts in interest rates and equity market volatility impacting insurance and retirement funds
- • Operational vulnerability: Reliance on consolidated funds and VIEs for liquidity with potential impact from capital raising and investment performance fluctuations
- • Market disruption risk: Competition from other alternative asset managers in credit and equity funds with performance fee dependence on fund returns
- • Financial risk: $4.3B long-term debt maturing between 2026 and 2054 creating refinancing and interest expense risks
Apollo Global Management FY2024 Key Financial MetricsXBRL
Revenue
$26.1B
▼ -20.0% YoY
Net Income
$4.6B
▼ -9.3% YoY
Net Margin
17.5%
▲ +207bp YoY
ROE
26.5%
▼ -941bp YoY
Total Assets
$377.9B
▲ +20.5% YoY
EPS (Diluted)
$7.33
▼ -11.5% YoY
Operating Cash Flow
$3.3B
▼ -48.5% YoY
Source: XBRL data from Apollo Global Management FY2024 10-K filing on SEC EDGAR. All figures in USD.
Other Apollo Global Management Annual Reports
Get deeper insights on Apollo Global Management
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.