Annual Income Statements for Apollo Commercial Real Estate Finance
This table shows Apollo Commercial Real Estate Finance's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Apollo Commercial Real Estate Finance
This table shows Apollo Commercial Real Estate Finance's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
-7.06 |
46 |
-86 |
43 |
43 |
-108 |
33 |
-95 |
38 |
23 |
18 |
Consolidated Net Income / (Loss) |
|
-3.99 |
49 |
-83 |
46 |
47 |
-105 |
36 |
-92 |
41 |
26 |
21 |
Net Income / (Loss) Continuing Operations |
|
-3.99 |
49 |
-83 |
46 |
47 |
-103 |
36 |
-92 |
41 |
26 |
21 |
Total Pre-Tax Income |
|
-3.99 |
49 |
-83 |
47 |
46 |
-104 |
36 |
-91 |
41 |
26 |
21 |
Total Revenue |
|
32 |
88 |
-44 |
78 |
145 |
86 |
77 |
-54 |
77 |
69 |
59 |
Net Interest Income / (Expense) |
|
67 |
71 |
63 |
60 |
58 |
57 |
52 |
47 |
44 |
39 |
43 |
Total Interest Income |
|
-107 |
176 |
179 |
60 |
-163 |
57 |
52 |
47 |
-213 |
39 |
43 |
Loans and Leases Interest Income |
|
152 |
166 |
174 |
180 |
180 |
184 |
179 |
180 |
156 |
144 |
167 |
Investment Securities Interest Income |
|
12 |
9.71 |
5.11 |
1.60 |
0.86 |
0.85 |
0.84 |
1.21 |
0.64 |
0.56 |
0.56 |
Other Interest Income |
|
- |
- |
- |
-122 |
- |
-128 |
-128 |
-134 |
- |
-105 |
-124 |
Total Interest Expense |
|
-174 |
105 |
116 |
0.00 |
-221 |
0.00 |
0.00 |
0.00 |
-256 |
0.00 |
0.00 |
Total Non-Interest Income |
|
-35 |
17 |
-107 |
18 |
87 |
29 |
25 |
-101 |
34 |
29 |
16 |
Other Service Charges |
|
2.14 |
0.73 |
2.34 |
1.47 |
0.08 |
0.57 |
0.64 |
1.57 |
1.71 |
1.19 |
1.23 |
Net Realized & Unrealized Capital Gains on Investments |
|
4.73 |
-0.02 |
-139 |
-4.72 |
61 |
4.19 |
-5.15 |
-127 |
5.15 |
1.54 |
-13 |
Other Non-Interest Income |
|
-42 |
16 |
29 |
21 |
26 |
25 |
29 |
25 |
27 |
26 |
28 |
Total Non-Interest Expense |
|
17 |
35 |
39 |
37 |
38 |
41 |
41 |
39 |
38 |
38 |
39 |
Other Operating Expenses |
|
17 |
31 |
37 |
36 |
37 |
37 |
38 |
36 |
36 |
36 |
36 |
Depreciation Expense |
|
- |
3.99 |
2.20 |
1.02 |
1.04 |
4.66 |
2.29 |
2.34 |
2.38 |
2.46 |
2.53 |
Income Tax Expense |
|
- |
0.00 |
0.00 |
0.52 |
-0.08 |
0.11 |
0.10 |
0.07 |
0.11 |
0.12 |
0.12 |
Preferred Stock Dividends Declared |
|
3.07 |
3.07 |
3.07 |
3.07 |
3.07 |
3.07 |
3.07 |
3.07 |
3.07 |
3.07 |
3.07 |
Basic Earnings per Share |
|
($0.06) |
$0.32 |
($0.62) |
$0.30 |
$0.29 |
($0.76) |
$0.23 |
($0.69) |
$0.25 |
$0.16 |
$0.12 |
Weighted Average Basic Shares Outstanding |
|
140.53M |
141.07M |
141.34M |
141.35M |
141.28M |
141.87M |
140.44M |
138.25M |
139.67M |
138.64M |
138.94M |
Diluted Earnings per Share |
|
$0.03 |
$0.32 |
($0.62) |
$0.30 |
$0.29 |
($0.76) |
$0.23 |
($0.69) |
$0.25 |
$0.16 |
$0.12 |
Weighted Average Diluted Shares Outstanding |
|
165.50M |
155.48M |
141.34M |
141.35M |
141.28M |
141.87M |
140.61M |
138.25M |
139.67M |
138.99M |
139.21M |
Weighted Average Basic & Diluted Shares Outstanding |
|
141.27M |
141.34M |
141.35M |
141.36M |
142.10M |
142.16M |
138.35M |
138.17M |
138.87M |
138.94M |
138.94M |
Cash Dividends to Common per Share |
|
$0.35 |
$0.35 |
$0.35 |
$0.35 |
$0.35 |
$0.35 |
$0.35 |
$0.25 |
$0.25 |
$0.25 |
$0.25 |
Annual Cash Flow Statements for Apollo Commercial Real Estate Finance
This table details how cash moves in and out of Apollo Commercial Real Estate Finance's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
21 |
27 |
166 |
-186 |
32 |
342 |
-127 |
18 |
-119 |
4.02 |
89 |
Net Cash From Operating Activities |
|
67 |
88 |
124 |
155 |
266 |
273 |
164 |
199 |
268 |
274 |
200 |
Net Cash From Continuing Operating Activities |
|
67 |
88 |
124 |
155 |
266 |
273 |
164 |
199 |
262 |
279 |
200 |
Net Income / (Loss) Continuing Operations |
|
83 |
103 |
158 |
193 |
220 |
230 |
18 |
224 |
265 |
58 |
-120 |
Consolidated Net Income / (Loss) |
|
83 |
103 |
158 |
193 |
220 |
230 |
18 |
224 |
265 |
58 |
-120 |
Depreciation Expense |
|
- |
- |
- |
- |
- |
0.00 |
0.00 |
2.65 |
0.70 |
8.25 |
12 |
Amortization Expense |
|
-2.24 |
-8.22 |
-6.07 |
-41 |
-53 |
-70 |
-49 |
-56 |
-39 |
-15 |
-13 |
Non-Cash Adjustments to Reconcile Net Income |
|
-3.32 |
20 |
-16 |
12 |
41 |
75 |
76 |
22 |
-21 |
169 |
227 |
Changes in Operating Assets and Liabilities, net |
|
-10 |
-27 |
-27 |
-14 |
38 |
18 |
-7.20 |
6.89 |
56 |
58 |
94 |
Net Cash From Investing Activities |
|
-887 |
-791 |
1,067 |
-721 |
-999 |
-1,435 |
-216 |
-1,357 |
-1,339 |
68 |
577 |
Net Cash From Continuing Investing Activities |
|
-516 |
-791 |
-631 |
-721 |
-999 |
-1,435 |
-216 |
-1,357 |
-1,339 |
68 |
577 |
Purchase of Investment Securities |
|
-847 |
-1,351 |
-1,138 |
-1,836 |
-2,351 |
-3,084 |
-891 |
-2,909 |
-33 |
-73 |
-1,468 |
Sale of Property, Leasehold Improvements and Equipment |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
40 |
Sale and/or Maturity of Investments |
|
331 |
540 |
506 |
1,091 |
1,352 |
2,035 |
675 |
1,903 |
2,201 |
1,183 |
2,550 |
Other Investing Activities, net |
|
0.00 |
- |
- |
- |
- |
-386 |
- |
-351 |
-3,507 |
-1,042 |
-544 |
Net Cash From Financing Activities |
|
840 |
730 |
-1,025 |
380 |
765 |
1,504 |
-75 |
1,175 |
958 |
-343 |
-689 |
Net Cash From Continuing Financing Activities |
|
849 |
730 |
-1,025 |
380 |
765 |
1,504 |
-75 |
1,175 |
958 |
-343 |
-689 |
Issuance of Debt |
|
346 |
0.00 |
0.00 |
343 |
227 |
497 |
34 |
797 |
2,836 |
807 |
1,998 |
Repayment of Debt |
|
0.00 |
-1.25 |
-4.37 |
-85 |
-56 |
-2.50 |
-5.00 |
-150 |
-1,807 |
-917 |
-2,593 |
Repurchase of Common Equity |
|
0.00 |
-1.74 |
- |
- |
0.00 |
0.00 |
-128 |
- |
0.00 |
0.00 |
-41 |
Payment of Dividends |
|
-75 |
-108 |
-160 |
-220 |
-255 |
-291 |
-251 |
-213 |
-213 |
-214 |
-198 |
Other Financing Activities, Net |
|
420 |
300 |
-1,038 |
179 |
573 |
1,158 |
275 |
741 |
141 |
-19 |
144 |
Cash Interest Paid |
|
18 |
43 |
53 |
56 |
98 |
133 |
130 |
138 |
246 |
444 |
495 |
Cash Income Taxes Paid |
|
- |
- |
- |
- |
- |
- |
- |
0.00 |
0.00 |
0.80 |
0.03 |
Quarterly Cash Flow Statements for Apollo Commercial Real Estate Finance
This table details how cash moves in and out of Apollo Commercial Real Estate Finance's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Net Change in Cash & Equivalents |
|
-104 |
104 |
-23 |
4.22 |
-82 |
-65 |
12 |
19 |
123 |
-152 |
10.00 |
Net Cash From Operating Activities |
|
43 |
110 |
49 |
83 |
31 |
53 |
50 |
47 |
50 |
39 |
63 |
Net Cash From Continuing Operating Activities |
|
37 |
110 |
49 |
83 |
36 |
53 |
50 |
47 |
50 |
39 |
63 |
Net Income / (Loss) Continuing Operations |
|
-3.99 |
49 |
-83 |
46 |
47 |
-105 |
36 |
-92 |
41 |
26 |
21 |
Consolidated Net Income / (Loss) |
|
-3.99 |
49 |
-83 |
46 |
47 |
-105 |
36 |
-92 |
41 |
26 |
21 |
Depreciation Expense |
|
- |
3.99 |
2.20 |
1.02 |
1.04 |
4.66 |
2.29 |
2.34 |
2.38 |
2.46 |
2.53 |
Amortization Expense |
|
-7.69 |
-6.21 |
-2.61 |
-4.50 |
-1.56 |
-2.69 |
-2.22 |
-3.71 |
-3.93 |
-1.86 |
-1.72 |
Non-Cash Adjustments to Reconcile Net Income |
|
42 |
48 |
88 |
21 |
12 |
7.89 |
4.23 |
134 |
81 |
9.44 |
5.69 |
Changes in Operating Assets and Liabilities, net |
|
-31 |
11 |
-16 |
85 |
-22 |
148 |
-0.09 |
164 |
-70 |
-0.72 |
40 |
Net Cash From Investing Activities |
|
184 |
87 |
23 |
115 |
-157 |
-167 |
-49 |
206 |
586 |
-458 |
-798 |
Net Cash From Continuing Investing Activities |
|
184 |
87 |
23 |
115 |
-157 |
-167 |
-49 |
206 |
586 |
-458 |
-798 |
Purchase of Investment Securities |
|
3,235 |
-360 |
-96 |
150 |
233 |
-52 |
-652 |
-107 |
-350 |
-502 |
441 |
Sale and/or Maturity of Investments |
|
457 |
447 |
188 |
191 |
358 |
173 |
577 |
833 |
947 |
145 |
615 |
Other Investing Activities, net |
|
- |
- |
- |
-235 |
-738 |
-288 |
- |
-554 |
-16 |
-100 |
-1,853 |
Net Cash From Financing Activities |
|
-326 |
-93 |
-95 |
-198 |
43 |
48 |
11 |
-235 |
-513 |
266 |
744 |
Net Cash From Continuing Financing Activities |
|
-326 |
-93 |
-95 |
-198 |
43 |
48 |
11 |
-235 |
-513 |
266 |
744 |
Issuance of Debt |
|
- |
- |
- |
33 |
451 |
549 |
- |
505 |
315 |
407 |
1,602 |
Repayment of Debt |
|
-1,456 |
-8.88 |
-382 |
-177 |
-349 |
-436 |
-1,033 |
-724 |
-834 |
-113 |
-832 |
Payment of Dividends |
|
-53 |
-54 |
-54 |
-54 |
-54 |
-54 |
-54 |
-52 |
-38 |
-38 |
-38 |
Other Financing Activities, Net |
|
-1,653 |
-30 |
17 |
-0.40 |
-5.06 |
-11 |
-43 |
39 |
44 |
11 |
13 |
Cash Interest Paid |
|
95 |
90 |
118 |
109 |
127 |
116 |
136 |
122 |
121 |
102 |
121 |
Cash Income Taxes Paid |
|
- |
- |
- |
- |
- |
0.00 |
- |
- |
- |
0.00 |
0.11 |
Annual Balance Sheets for Apollo Commercial Real Estate Finance
This table presents Apollo Commercial Real Estate Finance's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
1,845 |
2,713 |
3,483 |
4,089 |
5,096 |
6,888 |
6,940 |
8,417 |
9,568 |
9,297 |
8,412 |
Cash and Due from Banks |
|
41 |
67 |
201 |
78 |
110 |
452 |
325 |
343 |
222 |
225 |
317 |
Trading Account Securities |
|
698 |
3.33 |
483 |
0.00 |
24 |
- |
0.00 |
17 |
129 |
29 |
58 |
Loans and Leases, Net of Allowance |
|
1,020 |
0.00 |
0.00 |
3,680 |
0.00 |
0.00 |
6,497 |
0.00 |
0.00 |
0.00 |
7,104 |
Loans and Leases |
|
1,020 |
- |
- |
3,680 |
- |
- |
6,497 |
- |
- |
- |
7,104 |
Loans Held for Sale |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
0.00 |
41 |
Other Assets |
|
49 |
0.24 |
43 |
331 |
35 |
61 |
118 |
200 |
536 |
684 |
891 |
Total Liabilities & Shareholders' Equity |
|
1,845 |
2,713 |
3,483 |
4,089 |
5,096 |
6,888 |
6,940 |
8,417 |
9,568 |
9,297 |
8,412 |
Total Liabilities |
|
990 |
1,337 |
1,551 |
2,000 |
2,586 |
4,258 |
4,669 |
6,122 |
7,214 |
7,088 |
6,537 |
Short-Term Debt |
|
622 |
918 |
1,140 |
1,336 |
1,880 |
- |
31 |
- |
- |
- |
0.00 |
Long-Term Debt |
|
339 |
248 |
335 |
585 |
592 |
4,138 |
4,554 |
6,019 |
6,977 |
6,958 |
6,390 |
Other Long-Term Liabilities |
|
29 |
- |
69 |
71 |
105 |
120 |
75 |
103 |
237 |
130 |
147 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
855 |
1,375 |
1,932 |
2,088 |
2,510 |
2,630 |
2,271 |
2,295 |
2,355 |
2,209 |
1,874 |
Total Preferred & Common Equity |
|
855 |
1,375 |
1,932 |
2,088 |
2,510 |
2,630 |
2,271 |
2,295 |
2,355 |
2,209 |
1,874 |
Preferred Stock |
|
0.04 |
0.12 |
- |
- |
0.14 |
0.07 |
0.07 |
0.07 |
0.07 |
0.07 |
0.07 |
Total Common Equity |
|
855 |
1,378 |
1,932 |
2,088 |
2,510 |
2,630 |
2,270 |
2,295 |
2,354 |
2,209 |
1,874 |
Common Stock |
|
869 |
1,411 |
1,984 |
2,171 |
2,640 |
2,827 |
2,709 |
2,722 |
2,718 |
2,729 |
2,697 |
Retained Earnings |
|
-10 |
-32 |
-48 |
-83 |
-130 |
-197 |
-439 |
-428 |
-364 |
-520 |
-823 |
Quarterly Balance Sheets for Apollo Commercial Real Estate Finance
This table presents Apollo Commercial Real Estate Finance's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q2 2022 |
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Q2 2025 |
Total Assets |
|
9,553 |
9,824 |
9,508 |
9,360 |
9,157 |
9,225 |
9,272 |
9,098 |
8,784 |
9,817 |
Cash and Due from Banks |
|
242 |
319 |
332 |
308 |
308 |
161 |
175 |
194 |
166 |
178 |
Trading Account Securities |
|
140 |
249 |
89 |
64 |
94 |
47 |
48 |
0.58 |
16 |
0.17 |
Loans and Leases, Net of Allowance |
|
8,937 |
0.00 |
0.00 |
8,295 |
0.00 |
0.00 |
0.00 |
0.00 |
7,687 |
8,625 |
Loans and Leases |
|
8,937 |
- |
- |
8,295 |
- |
- |
- |
- |
7,687 |
8,625 |
Loans Held for Sale |
|
- |
- |
- |
- |
- |
135 |
0.00 |
- |
41 |
40 |
Other Assets |
|
234 |
524 |
616 |
693 |
781 |
731 |
756 |
1,073 |
873 |
974 |
Total Liabilities & Shareholders' Equity |
|
9,553 |
9,824 |
9,508 |
9,360 |
9,157 |
9,225 |
9,272 |
9,098 |
8,784 |
9,817 |
Total Liabilities |
|
7,280 |
7,416 |
7,161 |
7,145 |
6,945 |
7,178 |
7,275 |
7,230 |
6,924 |
7,971 |
Short-Term Debt |
|
- |
- |
- |
- |
- |
- |
- |
- |
0.00 |
58 |
Long-Term Debt |
|
7,050 |
7,038 |
6,967 |
6,971 |
6,733 |
7,013 |
7,117 |
7,044 |
6,815 |
7,816 |
Other Long-Term Liabilities |
|
220 |
378 |
193 |
165 |
212 |
165 |
158 |
185 |
109 |
97 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
2,273 |
2,408 |
2,348 |
2,215 |
2,212 |
2,047 |
1,997 |
1,868 |
1,861 |
1,846 |
Total Preferred & Common Equity |
|
2,273 |
2,408 |
2,348 |
2,215 |
2,212 |
2,047 |
1,997 |
1,868 |
1,861 |
1,846 |
Preferred Stock |
|
0.07 |
0.07 |
0.07 |
0.07 |
0.07 |
0.07 |
0.07 |
0.07 |
0.07 |
0.07 |
Total Common Equity |
|
2,273 |
2,408 |
2,347 |
2,215 |
2,212 |
2,047 |
1,997 |
1,868 |
1,861 |
1,846 |
Common Stock |
|
2,709 |
2,714 |
2,716 |
2,720 |
2,725 |
2,726 |
2,692 |
2,693 |
2,696 |
2,699 |
Retained Earnings |
|
-436 |
-306 |
-368 |
-505 |
-513 |
-678 |
-695 |
-825 |
-835 |
-853 |
Annual Metrics And Ratios for Apollo Commercial Real Estate Finance
This table displays calculated financial ratios and metrics derived from Apollo Commercial Real Estate Finance's official financial filings.
Metric |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
44.17% |
24.65% |
75.80% |
-2.37% |
37.39% |
6.11% |
-20.69% |
11.63% |
32.24% |
-27.73% |
-26.58% |
EBITDA Growth |
|
69.33% |
13.54% |
65.88% |
-22.77% |
42.26% |
-3.82% |
-94.56% |
1,848.40% |
33.29% |
-77.12% |
-331.30% |
EBIT Growth |
|
57.94% |
20.38% |
58.30% |
0.47% |
38.61% |
4.63% |
-74.97% |
287.89% |
18.66% |
-77.92% |
-303.59% |
NOPAT Growth |
|
57.94% |
20.38% |
58.30% |
0.47% |
38.61% |
4.63% |
-74.97% |
287.89% |
18.66% |
-78.08% |
-243.60% |
Net Income Growth |
|
57.64% |
24.80% |
52.90% |
22.27% |
13.96% |
4.63% |
-92.02% |
1,116.28% |
18.66% |
-78.08% |
-305.82% |
EPS Growth |
|
36.51% |
-10.47% |
12.99% |
-11.49% |
-3.90% |
-5.41% |
-99.29% |
14,500.00% |
15.07% |
-82.74% |
-434.48% |
Operating Cash Flow Growth |
|
45.79% |
31.45% |
40.58% |
25.01% |
71.73% |
2.81% |
-40.00% |
21.54% |
34.27% |
2.30% |
-26.88% |
Free Cash Flow Firm Growth |
|
-1,304.56% |
26.28% |
-13.00% |
37.23% |
-69.38% |
-107.10% |
98.10% |
-4,071.57% |
39.12% |
129.60% |
267.87% |
Invested Capital Growth |
|
105.26% |
39.94% |
34.03% |
17.69% |
24.24% |
35.88% |
1.29% |
21.28% |
12.23% |
-1.76% |
-9.84% |
Revenue Q/Q Growth |
|
6.54% |
4.47% |
20.29% |
-17.66% |
24.42% |
15.14% |
-33.98% |
36.60% |
-9.16% |
73.62% |
-25.74% |
EBITDA Q/Q Growth |
|
9.61% |
-0.03% |
15.95% |
-54.49% |
197.39% |
4.57% |
-96.28% |
1,835.55% |
-17.15% |
341.69% |
-214.20% |
EBIT Q/Q Growth |
|
8.13% |
2.20% |
14.55% |
-41.36% |
76.85% |
3.63% |
-80.47% |
394.78% |
-13.78% |
129.19% |
-213.51% |
NOPAT Q/Q Growth |
|
8.13% |
2.20% |
28.53% |
-40.26% |
40.52% |
23.02% |
-80.47% |
3,718.81% |
-13.41% |
616.11% |
-5.02% |
Net Income Q/Q Growth |
|
8.07% |
5.30% |
25.21% |
-8.41% |
5.60% |
8.95% |
-65.71% |
0.19% |
-13.41% |
664.83% |
-5.18% |
EPS Q/Q Growth |
|
2.99% |
-7.78% |
27.94% |
-18.95% |
0.00% |
10.24% |
-96.00% |
6.57% |
-13.40% |
866.67% |
-4.30% |
Operating Cash Flow Q/Q Growth |
|
27.46% |
-0.59% |
17.11% |
-1.75% |
1.31% |
17.29% |
-17.22% |
-7.65% |
3.11% |
-4.11% |
10.54% |
Free Cash Flow Firm Q/Q Growth |
|
-30.01% |
0.75% |
-11.15% |
5.10% |
13.49% |
-32.93% |
89.95% |
-58.51% |
50.56% |
-56.29% |
1,814.10% |
Invested Capital Q/Q Growth |
|
10.80% |
7.37% |
8.97% |
3.88% |
1.96% |
8.40% |
0.32% |
9.13% |
-1.21% |
2.49% |
-7.27% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
79.85% |
72.73% |
68.63% |
54.29% |
56.22% |
50.96% |
3.50% |
61.07% |
61.56% |
19.49% |
-61.39% |
EBIT Margin |
|
82.07% |
79.26% |
71.37% |
73.45% |
74.10% |
73.07% |
23.07% |
80.15% |
71.93% |
21.98% |
-60.94% |
Profit (Net Income) Margin |
|
81.91% |
82.01% |
71.33% |
89.33% |
74.10% |
73.07% |
7.36% |
80.15% |
71.93% |
21.81% |
-61.14% |
Tax Burden Percent |
|
99.81% |
103.47% |
99.94% |
98.55% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
99.25% |
100.33% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
123.42% |
100.00% |
100.00% |
31.89% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.75% |
0.00% |
Return on Invested Capital (ROIC) |
|
6.14% |
4.58% |
5.31% |
4.28% |
4.89% |
3.92% |
0.85% |
2.95% |
3.01% |
0.63% |
-0.96% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
6.11% |
4.90% |
5.30% |
6.30% |
4.89% |
3.92% |
-0.05% |
2.95% |
3.01% |
0.63% |
-1.50% |
Return on Net Nonoperating Assets (RNNOA) |
|
4.62% |
4.68% |
4.24% |
5.32% |
4.68% |
5.04% |
-0.10% |
6.85% |
8.40% |
1.92% |
-4.90% |
Return on Equity (ROE) |
|
10.76% |
9.26% |
9.55% |
9.60% |
9.57% |
8.96% |
0.75% |
9.79% |
11.41% |
2.55% |
-5.86% |
Cash Return on Invested Capital (CROIC) |
|
-62.83% |
-28.71% |
-23.77% |
-11.97% |
-16.72% |
-26.50% |
-0.43% |
-16.28% |
-8.52% |
2.41% |
9.39% |
Operating Return on Assets (OROA) |
|
6.02% |
4.38% |
5.10% |
4.19% |
4.79% |
3.84% |
0.83% |
2.91% |
2.95% |
0.62% |
-1.35% |
Return on Assets (ROA) |
|
6.01% |
4.53% |
5.10% |
5.10% |
4.79% |
3.84% |
0.27% |
2.91% |
2.95% |
0.62% |
-1.35% |
Return on Common Equity (ROCE) |
|
10.76% |
9.27% |
9.55% |
9.60% |
9.57% |
8.96% |
0.75% |
9.79% |
11.41% |
2.55% |
-5.86% |
Return on Equity Simple (ROE_SIMPLE) |
|
9.68% |
7.51% |
8.17% |
9.24% |
8.77% |
8.75% |
0.81% |
9.74% |
11.26% |
2.63% |
-6.38% |
Net Operating Profit after Tax (NOPAT) |
|
83 |
100 |
158 |
159 |
220 |
230 |
58 |
224 |
265 |
58 |
-83 |
NOPAT Margin |
|
82.07% |
79.26% |
71.37% |
73.45% |
74.10% |
73.07% |
23.07% |
80.15% |
71.93% |
21.81% |
-42.66% |
Net Nonoperating Expense Percent (NNEP) |
|
0.03% |
-0.33% |
0.01% |
-2.02% |
0.00% |
0.00% |
0.90% |
0.00% |
0.00% |
0.00% |
0.54% |
SG&A Expenses to Revenue |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
|
17.93% |
20.74% |
21.85% |
24.24% |
19.16% |
20.58% |
26.66% |
32.32% |
32.85% |
55.72% |
81.32% |
Earnings before Interest and Taxes (EBIT) |
|
83 |
100 |
158 |
159 |
220 |
230 |
58 |
224 |
265 |
59 |
-119 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
81 |
92 |
152 |
117 |
167 |
161 |
8.74 |
170 |
227 |
52 |
-120 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.30 |
0.31 |
0.29 |
0.44 |
0.45 |
0.60 |
0.45 |
0.58 |
0.50 |
0.66 |
0.64 |
Price to Tangible Book Value (P/TBV) |
|
0.30 |
0.31 |
0.29 |
0.44 |
0.45 |
0.60 |
0.45 |
0.58 |
0.50 |
0.66 |
0.64 |
Price to Revenue (P/Rev) |
|
2.56 |
3.43 |
2.54 |
4.22 |
3.84 |
5.03 |
4.11 |
4.76 |
3.18 |
5.50 |
6.12 |
Price to Earnings (P/E) |
|
3.43 |
4.73 |
4.40 |
5.84 |
5.91 |
7.48 |
212.24 |
6.30 |
4.63 |
31.98 |
0.00 |
Dividend Yield |
|
29.04% |
27.65% |
26.48% |
21.61% |
21.62% |
17.85% |
19.82% |
14.76% |
16.80% |
13.50% |
13.86% |
Earnings Yield |
|
29.18% |
21.14% |
22.71% |
17.14% |
16.91% |
13.37% |
0.47% |
15.86% |
21.59% |
3.13% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.63 |
0.60 |
0.52 |
0.69 |
0.70 |
0.78 |
0.77 |
0.84 |
0.85 |
0.89 |
0.88 |
Enterprise Value to Revenue (EV/Rev) |
|
11.37 |
12.16 |
8.01 |
12.75 |
11.79 |
16.73 |
21.16 |
25.12 |
21.50 |
30.77 |
37.15 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
14.24 |
16.72 |
11.67 |
23.49 |
20.98 |
32.82 |
604.75 |
41.12 |
34.92 |
157.87 |
0.00 |
Enterprise Value to EBIT (EV/EBIT) |
|
13.86 |
15.35 |
11.22 |
17.36 |
15.91 |
22.89 |
91.74 |
31.33 |
29.89 |
139.99 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
13.86 |
15.35 |
11.22 |
17.36 |
15.91 |
22.89 |
91.74 |
31.33 |
29.89 |
141.05 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
17.14 |
17.38 |
14.31 |
17.79 |
13.16 |
19.27 |
32.22 |
35.13 |
29.61 |
29.94 |
36.30 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
36.84 |
8.88 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
1.12 |
0.85 |
0.76 |
0.92 |
0.98 |
1.57 |
2.02 |
2.62 |
2.96 |
3.15 |
3.41 |
Long-Term Debt to Equity |
|
0.40 |
0.18 |
0.17 |
0.28 |
0.24 |
1.57 |
2.01 |
2.62 |
2.96 |
3.15 |
3.41 |
Financial Leverage |
|
0.76 |
0.95 |
0.80 |
0.84 |
0.96 |
1.29 |
1.78 |
2.32 |
2.80 |
3.05 |
3.27 |
Leverage Ratio |
|
1.79 |
2.04 |
1.87 |
1.88 |
2.00 |
2.33 |
2.82 |
3.36 |
3.87 |
4.13 |
4.34 |
Compound Leverage Factor |
|
1.79 |
2.04 |
1.87 |
2.32 |
2.00 |
2.33 |
0.90 |
3.36 |
3.87 |
4.13 |
4.34 |
Debt to Total Capital |
|
52.93% |
45.89% |
43.29% |
47.92% |
49.62% |
61.14% |
66.88% |
72.40% |
74.77% |
75.91% |
77.32% |
Short-Term Debt to Total Capital |
|
34.25% |
36.13% |
33.45% |
33.33% |
37.73% |
0.00% |
0.46% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
18.68% |
9.76% |
9.83% |
14.59% |
11.88% |
61.14% |
66.42% |
72.40% |
74.77% |
75.91% |
77.32% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
47.07% |
54.23% |
56.71% |
52.08% |
50.38% |
38.86% |
33.12% |
27.60% |
25.23% |
24.09% |
22.68% |
Debt to EBITDA |
|
11.92 |
12.74 |
9.71 |
16.38 |
14.81 |
25.78 |
524.54 |
35.34 |
30.73 |
133.98 |
-53.20 |
Net Debt to EBITDA |
|
11.04 |
12.00 |
7.97 |
15.72 |
14.15 |
22.96 |
487.30 |
33.33 |
29.76 |
129.64 |
-50.55 |
Long-Term Debt to EBITDA |
|
4.21 |
2.71 |
2.21 |
4.99 |
3.55 |
25.78 |
520.97 |
35.34 |
30.73 |
133.98 |
-53.20 |
Debt to NOPAT |
|
11.60 |
11.69 |
9.34 |
12.11 |
11.23 |
17.98 |
79.57 |
26.93 |
26.30 |
119.71 |
-76.56 |
Net Debt to NOPAT |
|
10.75 |
11.01 |
7.67 |
11.62 |
10.74 |
16.01 |
73.92 |
25.40 |
25.47 |
115.83 |
-72.75 |
Long-Term Debt to NOPAT |
|
4.09 |
2.49 |
2.12 |
3.69 |
2.69 |
17.98 |
79.03 |
26.93 |
26.30 |
119.71 |
-76.56 |
Noncontrolling Interest Sharing Ratio |
|
-0.05% |
-0.14% |
-0.09% |
0.01% |
0.01% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-849 |
-626 |
-707 |
-444 |
-752 |
-1,557 |
-30 |
-1,235 |
-752 |
223 |
819 |
Operating Cash Flow to CapEx |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
|
-31.98 |
-12.81 |
-11.09 |
-5.69 |
-6.56 |
-10.18 |
-0.20 |
-7.60 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow to Interest Expense |
|
2.53 |
1.80 |
1.94 |
1.98 |
2.32 |
1.79 |
1.10 |
1.23 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
|
2.53 |
1.80 |
1.94 |
1.98 |
2.32 |
1.79 |
1.10 |
1.23 |
0.00 |
0.00 |
0.00 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.07 |
0.06 |
0.07 |
0.06 |
0.06 |
0.05 |
0.04 |
0.04 |
0.04 |
0.03 |
0.02 |
Fixed Asset Turnover |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
1,817 |
2,542 |
3,407 |
4,010 |
4,981 |
6,768 |
6,856 |
8,314 |
9,331 |
9,167 |
8,265 |
Invested Capital Turnover |
|
0.07 |
0.06 |
0.07 |
0.06 |
0.07 |
0.05 |
0.04 |
0.04 |
0.04 |
0.03 |
0.02 |
Increase / (Decrease) in Invested Capital |
|
932 |
725 |
865 |
603 |
972 |
1,787 |
87 |
1,459 |
1,017 |
-164 |
-902 |
Enterprise Value (EV) |
|
1,149 |
1,532 |
1,773 |
2,756 |
3,501 |
5,269 |
5,286 |
7,004 |
7,927 |
8,199 |
7,269 |
Market Capitalization |
|
258 |
432 |
562 |
912 |
1,139 |
1,583 |
1,027 |
1,327 |
1,172 |
1,466 |
1,197 |
Book Value per Share |
|
$18.25 |
$20.53 |
$23.90 |
$19.49 |
$18.75 |
$17.13 |
$16.18 |
$16.40 |
$16.75 |
$15.62 |
$13.57 |
Tangible Book Value per Share |
|
$18.25 |
$20.53 |
$23.90 |
$19.49 |
$18.75 |
$17.13 |
$16.18 |
$16.40 |
$16.75 |
$15.62 |
$13.57 |
Total Capital |
|
1,817 |
2,542 |
3,407 |
4,010 |
4,981 |
6,768 |
6,856 |
8,314 |
9,331 |
9,167 |
8,265 |
Total Debt |
|
961 |
1,167 |
1,475 |
1,921 |
2,472 |
4,138 |
4,585 |
6,019 |
6,977 |
6,958 |
6,390 |
Total Long-Term Debt |
|
339 |
248 |
335 |
585 |
592 |
4,138 |
4,554 |
6,019 |
6,977 |
6,958 |
6,390 |
Net Debt |
|
891 |
1,099 |
1,211 |
1,844 |
2,362 |
3,686 |
4,260 |
5,676 |
6,755 |
6,733 |
6,073 |
Capital Expenditures (CapEx) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
-40 |
Net Nonoperating Expense (NNE) |
|
0.16 |
-3.46 |
0.10 |
-34 |
0.00 |
0.00 |
39 |
0.00 |
0.00 |
0.00 |
36 |
Net Nonoperating Obligations (NNO) |
|
961 |
1,167 |
1,475 |
1,921 |
2,472 |
4,138 |
4,585 |
6,019 |
6,977 |
6,958 |
6,390 |
Total Depreciation and Amortization (D&A) |
|
-2.24 |
-8.22 |
-6.07 |
-41 |
-53 |
-70 |
-49 |
-53 |
-38 |
-6.64 |
-0.88 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$1.72 |
$1.54 |
$1.74 |
$1.54 |
$1.52 |
$1.41 |
$0.01 |
$1.48 |
$1.77 |
$0.29 |
($0.97) |
Adjusted Weighted Average Basic Shares Outstanding |
|
43.46M |
58.67M |
72.37M |
99.86M |
124.15M |
146.88M |
148.00M |
139.87M |
140.53M |
141.28M |
139.67M |
Adjusted Diluted Earnings per Share |
|
$1.72 |
$1.54 |
$1.74 |
$1.54 |
$1.48 |
$1.40 |
$0.01 |
$1.46 |
$1.68 |
$0.29 |
($0.97) |
Adjusted Weighted Average Diluted Shares Outstanding |
|
43.68M |
59.27M |
73.31M |
101.23M |
153.82M |
175.79M |
148.00M |
168.40M |
165.50M |
141.28M |
139.67M |
Adjusted Basic & Diluted Earnings per Share |
|
$1.72 |
$1.54 |
$1.74 |
$1.54 |
$0.00 |
$1.41 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
46.90M |
67.39M |
91.62M |
107.47M |
134.29M |
154.04M |
139.85M |
140.54M |
141.27M |
142.10M |
138.87M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
58 |
70 |
111 |
133 |
154 |
161 |
40 |
157 |
186 |
58 |
-83 |
Normalized NOPAT Margin |
|
57.45% |
55.48% |
49.96% |
61.67% |
51.87% |
51.15% |
16.15% |
56.24% |
50.35% |
21.81% |
-42.66% |
Pre Tax Income Margin |
|
82.07% |
79.26% |
71.37% |
90.65% |
74.10% |
73.07% |
7.36% |
80.15% |
71.93% |
21.98% |
-60.94% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
3.12 |
2.04 |
2.48 |
2.03 |
1.92 |
1.51 |
0.39 |
1.38 |
0.00 |
0.00 |
0.00 |
NOPAT to Interest Expense |
|
3.12 |
2.04 |
2.48 |
2.03 |
1.92 |
1.51 |
0.39 |
1.38 |
0.00 |
0.00 |
0.00 |
EBIT Less CapEx to Interest Expense |
|
3.12 |
2.04 |
2.48 |
2.03 |
1.92 |
1.51 |
0.39 |
1.38 |
0.00 |
0.00 |
0.00 |
NOPAT Less CapEx to Interest Expense |
|
3.12 |
2.04 |
2.48 |
2.03 |
1.92 |
1.51 |
0.39 |
1.38 |
0.00 |
0.00 |
0.00 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
90.94% |
104.87% |
101.45% |
113.81% |
115.72% |
126.52% |
1,367.42% |
95.12% |
80.25% |
368.66% |
-165.69% |
Augmented Payout Ratio |
|
90.94% |
106.56% |
101.45% |
113.81% |
115.72% |
126.52% |
2,063.91% |
95.12% |
80.25% |
368.66% |
-199.80% |
Quarterly Metrics And Ratios for Apollo Commercial Real Estate Finance
This table displays calculated financial ratios and metrics derived from Apollo Commercial Real Estate Finance's official financial filings.
Metric |
|
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
-53.64% |
44.59% |
-144.42% |
-55.73% |
351.59% |
-2.11% |
295.73% |
-169.07% |
-46.73% |
-20.26% |
-22.43% |
EBITDA Growth |
|
-138.50% |
945.85% |
-237.12% |
-75.30% |
917.48% |
-316.47% |
142.90% |
-315.42% |
-63.92% |
126.41% |
-39.74% |
EBIT Growth |
|
-114.53% |
221.01% |
-217.55% |
-74.74% |
2,095.09% |
-310.67% |
143.03% |
-296.37% |
-62.65% |
125.33% |
-41.88% |
NOPAT Growth |
|
-107.52% |
221.01% |
-182.28% |
-74.83% |
1,767.56% |
-249.41% |
161.30% |
-239.00% |
-12.65% |
135.56% |
-42.05% |
Net Income Growth |
|
-110.75% |
221.01% |
-217.55% |
-74.83% |
1,267.29% |
-313.68% |
142.91% |
-298.71% |
-12.65% |
124.87% |
-42.05% |
EPS Growth |
|
-89.66% |
300.00% |
-240.91% |
-73.45% |
866.67% |
-337.50% |
137.10% |
-330.00% |
-13.79% |
121.05% |
-47.83% |
Operating Cash Flow Growth |
|
23.40% |
122.01% |
-0.91% |
-33.61% |
-27.57% |
-52.07% |
1.85% |
-43.39% |
61.88% |
-25.60% |
25.83% |
Free Cash Flow Firm Growth |
|
28.24% |
62.68% |
105.65% |
133.27% |
120.68% |
131.52% |
35.11% |
-105.91% |
346.91% |
125.94% |
-646.02% |
Invested Capital Growth |
|
12.23% |
7.20% |
-1.48% |
-5.30% |
-1.76% |
-2.73% |
-0.78% |
-0.35% |
-9.84% |
-4.24% |
6.65% |
Revenue Q/Q Growth |
|
-81.74% |
173.27% |
-150.52% |
275.56% |
86.30% |
-40.76% |
1.83% |
-161.96% |
243.68% |
-11.34% |
-13.33% |
EBITDA Q/Q Growth |
|
-107.49% |
457.39% |
-279.47% |
151.43% |
147.79% |
-194.64% |
135.33% |
-358.27% |
141.51% |
-30.72% |
-18.85% |
EBIT Q/Q Growth |
|
-102.92% |
1,009.22% |
-270.50% |
155.86% |
130.39% |
-196.01% |
134.59% |
-354.93% |
143.82% |
-34.87% |
-20.12% |
NOPAT Q/Q Growth |
|
-101.52% |
1,852.70% |
-219.35% |
178.92% |
1.02% |
-257.04% |
148.96% |
-278.95% |
163.48% |
-36.06% |
-20.21% |
Net Income Q/Q Growth |
|
-102.18% |
1,326.89% |
-270.50% |
155.24% |
1.02% |
-324.59% |
134.24% |
-355.83% |
144.40% |
-36.06% |
-20.21% |
EPS Q/Q Growth |
|
-97.35% |
966.67% |
-293.75% |
148.39% |
-3.33% |
-362.07% |
130.26% |
-400.00% |
136.23% |
-36.00% |
-25.00% |
Operating Cash Flow Q/Q Growth |
|
-66.11% |
158.88% |
-55.25% |
69.13% |
-63.03% |
71.32% |
-4.91% |
-5.99% |
5.71% |
-21.26% |
60.81% |
Free Cash Flow Firm Q/Q Growth |
|
37.96% |
43.50% |
113.77% |
589.56% |
-61.44% |
-13.89% |
-41.00% |
-130.15% |
3,017.10% |
-56.47% |
-242.59% |
Invested Capital Q/Q Growth |
|
-1.21% |
-0.18% |
-1.39% |
-2.62% |
2.49% |
-1.17% |
0.60% |
-2.21% |
-7.27% |
4.97% |
12.04% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
-40.65% |
53.17% |
0.00% |
55.33% |
73.59% |
-117.57% |
41.39% |
0.00% |
49.85% |
38.95% |
36.46% |
EBIT Margin |
|
-16.74% |
55.69% |
0.00% |
59.80% |
73.95% |
-119.86% |
41.31% |
0.00% |
51.84% |
38.08% |
35.10% |
Profit (Net Income) Margin |
|
-12.41% |
55.69% |
0.00% |
59.14% |
32.07% |
-121.57% |
41.20% |
0.00% |
52.58% |
37.91% |
34.90% |
Tax Burden Percent |
|
100.00% |
100.00% |
100.00% |
98.89% |
100.16% |
100.11% |
99.72% |
100.07% |
99.72% |
99.56% |
99.44% |
Interest Burden Percent |
|
74.11% |
100.00% |
100.00% |
100.00% |
43.29% |
101.32% |
100.00% |
100.00% |
101.69% |
100.00% |
100.00% |
Effective Tax Rate |
|
0.00% |
0.00% |
0.00% |
1.11% |
-0.16% |
0.00% |
0.28% |
0.00% |
0.28% |
0.44% |
0.56% |
Return on Invested Capital (ROIC) |
|
-0.36% |
2.45% |
0.00% |
0.99% |
0.92% |
-2.45% |
1.78% |
0.00% |
1.18% |
0.76% |
0.60% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
-0.38% |
2.45% |
0.00% |
0.99% |
0.92% |
-2.90% |
1.78% |
0.00% |
1.18% |
0.76% |
0.60% |
Return on Net Nonoperating Assets (RNNOA) |
|
-1.07% |
7.14% |
0.00% |
2.94% |
2.82% |
-9.22% |
5.95% |
0.00% |
3.86% |
2.70% |
2.33% |
Return on Equity (ROE) |
|
-1.43% |
9.59% |
0.00% |
3.93% |
3.75% |
-11.67% |
7.73% |
0.00% |
5.04% |
3.46% |
2.93% |
Cash Return on Invested Capital (CROIC) |
|
-8.52% |
-3.63% |
3.05% |
5.54% |
2.41% |
2.05% |
1.04% |
-0.53% |
9.39% |
4.46% |
-6.46% |
Operating Return on Assets (OROA) |
|
-0.69% |
2.41% |
0.00% |
0.97% |
2.09% |
-3.39% |
1.75% |
0.00% |
1.15% |
0.75% |
0.59% |
Return on Assets (ROA) |
|
-0.51% |
2.41% |
0.00% |
0.96% |
0.91% |
-3.44% |
1.75% |
0.00% |
1.16% |
0.75% |
0.59% |
Return on Common Equity (ROCE) |
|
-1.43% |
9.59% |
0.00% |
3.93% |
3.75% |
-11.67% |
7.73% |
0.00% |
5.04% |
3.46% |
2.93% |
Return on Equity Simple (ROE_SIMPLE) |
|
0.00% |
12.73% |
6.53% |
0.34% |
0.00% |
-4.66% |
1.20% |
-6.09% |
0.00% |
0.58% |
-0.23% |
Net Operating Profit after Tax (NOPAT) |
|
-2.79 |
49 |
-58 |
46 |
47 |
-73 |
36 |
-64 |
41 |
26 |
21 |
NOPAT Margin |
|
-8.68% |
55.69% |
0.00% |
59.14% |
32.07% |
-85.01% |
41.20% |
0.00% |
52.58% |
37.91% |
34.90% |
Net Nonoperating Expense Percent (NNEP) |
|
0.02% |
0.00% |
0.36% |
0.00% |
0.00% |
0.45% |
0.00% |
0.40% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
|
53.66% |
39.31% |
0.00% |
47.69% |
26.05% |
48.09% |
46.88% |
0.00% |
49.78% |
56.07% |
64.90% |
Earnings before Interest and Taxes (EBIT) |
|
-5.38 |
49 |
-83 |
47 |
107 |
-103 |
36 |
-91 |
40 |
26 |
21 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
-13 |
47 |
-84 |
43 |
107 |
-101 |
36 |
-93 |
39 |
27 |
22 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.50 |
0.48 |
0.63 |
0.57 |
0.66 |
0.68 |
0.70 |
0.68 |
0.64 |
0.71 |
0.73 |
Price to Tangible Book Value (P/TBV) |
|
0.50 |
0.48 |
0.63 |
0.57 |
0.66 |
0.68 |
0.70 |
0.68 |
0.64 |
0.71 |
0.73 |
Price to Revenue (P/Rev) |
|
3.18 |
2.83 |
5.58 |
8.25 |
5.50 |
5.29 |
3.52 |
4.83 |
6.12 |
7.46 |
8.35 |
Price to Earnings (P/E) |
|
4.63 |
3.90 |
10.61 |
0.00 |
31.98 |
0.00 |
119.98 |
0.00 |
0.00 |
0.00 |
0.00 |
Dividend Yield |
|
16.80% |
17.68% |
14.09% |
15.63% |
13.50% |
14.14% |
14.30% |
14.15% |
13.86% |
11.49% |
10.33% |
Earnings Yield |
|
21.59% |
25.62% |
9.42% |
0.00% |
3.13% |
0.00% |
0.83% |
0.00% |
0.00% |
0.00% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.85 |
0.83 |
0.88 |
0.86 |
0.89 |
0.91 |
0.91 |
0.91 |
0.88 |
0.92 |
0.93 |
Enterprise Value to Revenue (EV/Rev) |
|
21.50 |
19.59 |
32.07 |
50.11 |
30.77 |
31.18 |
21.09 |
30.82 |
37.15 |
44.76 |
56.14 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
34.92 |
28.80 |
86.36 |
654.13 |
157.87 |
0.00 |
35.28 |
77.21 |
0.00 |
1,041.46 |
1,649.24 |
Enterprise Value to EBIT (EV/EBIT) |
|
29.89 |
25.94 |
70.97 |
300.97 |
139.99 |
0.00 |
34.99 |
77.31 |
0.00 |
804.44 |
1,292.51 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
29.89 |
25.94 |
55.80 |
947.54 |
141.05 |
0.00 |
349.12 |
0.00 |
0.00 |
733.30 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
29.61 |
23.62 |
24.61 |
26.93 |
29.94 |
38.12 |
38.34 |
44.83 |
36.30 |
42.72 |
45.27 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
28.58 |
15.11 |
36.84 |
43.79 |
87.48 |
0.00 |
8.88 |
20.18 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
2.96 |
2.97 |
3.15 |
3.04 |
3.15 |
3.43 |
3.56 |
3.77 |
3.41 |
3.66 |
4.26 |
Long-Term Debt to Equity |
|
2.96 |
2.97 |
3.15 |
3.04 |
3.15 |
3.43 |
3.56 |
3.77 |
3.41 |
3.66 |
4.23 |
Financial Leverage |
|
2.80 |
2.92 |
3.12 |
2.98 |
3.05 |
3.18 |
3.34 |
3.38 |
3.27 |
3.54 |
3.90 |
Leverage Ratio |
|
3.87 |
3.99 |
4.21 |
4.11 |
4.13 |
4.26 |
4.42 |
4.47 |
4.34 |
4.61 |
4.97 |
Compound Leverage Factor |
|
2.87 |
3.99 |
4.21 |
4.11 |
1.79 |
4.32 |
4.42 |
4.47 |
4.41 |
4.61 |
4.97 |
Debt to Total Capital |
|
74.77% |
74.80% |
75.89% |
75.27% |
75.91% |
77.40% |
78.09% |
79.04% |
77.32% |
78.55% |
81.00% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.59% |
Long-Term Debt to Total Capital |
|
74.77% |
74.80% |
75.89% |
75.27% |
75.91% |
77.40% |
78.09% |
79.04% |
77.32% |
78.55% |
80.41% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
25.23% |
25.20% |
24.11% |
24.73% |
24.09% |
22.60% |
21.91% |
20.96% |
22.68% |
21.45% |
18.99% |
Debt to EBITDA |
|
30.73 |
25.88 |
74.63 |
572.61 |
133.98 |
-73.16 |
30.13 |
66.97 |
-53.20 |
889.68 |
1,436.28 |
Net Debt to EBITDA |
|
29.76 |
24.65 |
71.33 |
546.43 |
129.64 |
-71.48 |
29.39 |
65.12 |
-50.55 |
867.96 |
1,403.88 |
Long-Term Debt to EBITDA |
|
30.73 |
25.88 |
74.63 |
572.61 |
133.98 |
-73.16 |
30.13 |
66.97 |
-53.20 |
889.68 |
1,425.75 |
Debt to NOPAT |
|
26.30 |
23.31 |
48.22 |
829.47 |
119.71 |
-105.72 |
298.13 |
-88.63 |
-76.56 |
626.43 |
-2,995.51 |
Net Debt to NOPAT |
|
25.47 |
22.20 |
46.09 |
791.54 |
115.83 |
-103.29 |
290.82 |
-86.19 |
-72.75 |
611.14 |
-2,927.93 |
Long-Term Debt to NOPAT |
|
26.30 |
23.31 |
48.22 |
829.47 |
119.71 |
-105.72 |
298.13 |
-88.63 |
-76.56 |
626.43 |
-2,973.53 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-1,020 |
-576 |
79 |
547 |
211 |
182 |
107 |
-32 |
943 |
410 |
-585 |
Operating Cash Flow to CapEx |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
|
0.00 |
-5.50 |
0.68 |
0.00 |
0.00 |
0.00 |
0.83 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow to Interest Expense |
|
0.00 |
1.05 |
0.42 |
0.00 |
0.00 |
0.00 |
0.39 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
|
0.00 |
1.05 |
0.42 |
0.00 |
0.00 |
0.00 |
0.39 |
0.00 |
0.00 |
0.00 |
0.00 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.04 |
0.04 |
0.03 |
0.02 |
0.03 |
0.03 |
0.04 |
0.03 |
0.02 |
0.02 |
0.02 |
Fixed Asset Turnover |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
9,331 |
9,315 |
9,185 |
8,945 |
9,167 |
9,060 |
9,114 |
8,913 |
8,265 |
8,676 |
9,720 |
Invested Capital Turnover |
|
0.04 |
0.04 |
0.03 |
0.02 |
0.03 |
0.03 |
0.04 |
0.03 |
0.02 |
0.02 |
0.02 |
Increase / (Decrease) in Invested Capital |
|
1,017 |
625 |
-138 |
-501 |
-164 |
-255 |
-71 |
-32 |
-902 |
-384 |
606 |
Enterprise Value (EV) |
|
7,927 |
7,754 |
8,067 |
7,691 |
8,199 |
8,251 |
8,334 |
8,122 |
7,269 |
7,978 |
9,041 |
Market Capitalization |
|
1,172 |
1,119 |
1,404 |
1,266 |
1,466 |
1,400 |
1,392 |
1,271 |
1,197 |
1,329 |
1,345 |
Book Value per Share |
|
$16.75 |
$16.62 |
$15.67 |
$15.65 |
$15.62 |
$14.43 |
$14.05 |
$13.50 |
$13.57 |
$13.40 |
$13.29 |
Tangible Book Value per Share |
|
$16.75 |
$16.62 |
$15.67 |
$15.65 |
$15.62 |
$14.43 |
$14.05 |
$13.50 |
$13.57 |
$13.40 |
$13.29 |
Total Capital |
|
9,331 |
9,315 |
9,185 |
8,945 |
9,167 |
9,060 |
9,114 |
8,913 |
8,265 |
8,676 |
9,720 |
Total Debt |
|
6,977 |
6,967 |
6,971 |
6,733 |
6,958 |
7,013 |
7,117 |
7,044 |
6,390 |
6,815 |
7,874 |
Total Long-Term Debt |
|
6,977 |
6,967 |
6,971 |
6,733 |
6,958 |
7,013 |
7,117 |
7,044 |
6,390 |
6,815 |
7,816 |
Net Debt |
|
6,755 |
6,636 |
6,662 |
6,425 |
6,733 |
6,851 |
6,942 |
6,850 |
6,073 |
6,649 |
7,696 |
Capital Expenditures (CapEx) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
-5.09 |
0.00 |
0.00 |
Net Nonoperating Expense (NNE) |
|
1.20 |
0.00 |
25 |
0.00 |
0.00 |
31 |
0.00 |
28 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
6,977 |
6,967 |
6,971 |
6,733 |
6,958 |
7,013 |
7,117 |
7,044 |
6,390 |
6,815 |
7,874 |
Total Depreciation and Amortization (D&A) |
|
-7.69 |
-2.22 |
-0.41 |
-3.48 |
-0.52 |
1.97 |
0.07 |
-1.37 |
-1.55 |
0.59 |
0.81 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
($0.06) |
$0.32 |
($0.62) |
$0.30 |
$0.29 |
($0.76) |
$0.23 |
($0.69) |
$0.25 |
$0.16 |
$0.12 |
Adjusted Weighted Average Basic Shares Outstanding |
|
140.53M |
141.07M |
141.34M |
141.35M |
141.28M |
141.87M |
140.44M |
138.25M |
139.67M |
138.64M |
138.94M |
Adjusted Diluted Earnings per Share |
|
$0.03 |
$0.32 |
($0.62) |
$0.30 |
$0.29 |
($0.76) |
$0.23 |
($0.69) |
$0.25 |
$0.16 |
$0.12 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
165.50M |
155.48M |
141.34M |
141.35M |
141.28M |
141.87M |
140.61M |
138.25M |
139.67M |
138.99M |
139.21M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
141.27M |
141.34M |
141.35M |
141.36M |
142.10M |
142.16M |
138.35M |
138.17M |
138.87M |
138.94M |
138.94M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
-2.79 |
34 |
-58 |
46 |
33 |
-73 |
36 |
-64 |
41 |
26 |
21 |
Normalized NOPAT Margin |
|
-8.68% |
38.99% |
0.00% |
59.14% |
22.41% |
-85.01% |
41.20% |
0.00% |
52.58% |
37.91% |
34.90% |
Pre Tax Income Margin |
|
-12.41% |
55.69% |
0.00% |
59.80% |
32.01% |
-121.44% |
41.31% |
0.00% |
52.72% |
38.08% |
35.10% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
0.00 |
0.47 |
-0.72 |
0.00 |
0.00 |
0.00 |
0.28 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT to Interest Expense |
|
0.00 |
0.47 |
-0.50 |
0.00 |
0.00 |
0.00 |
0.28 |
0.00 |
0.00 |
0.00 |
0.00 |
EBIT Less CapEx to Interest Expense |
|
0.00 |
0.47 |
-0.72 |
0.00 |
0.00 |
0.00 |
0.28 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT Less CapEx to Interest Expense |
|
0.00 |
0.47 |
-0.50 |
0.00 |
0.00 |
0.00 |
0.28 |
0.00 |
0.00 |
0.00 |
0.00 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
80.25% |
71.33% |
147.74% |
2,814.93% |
368.66% |
-225.03% |
899.22% |
-187.72% |
-165.69% |
1,680.28% |
-4,018.62% |
Augmented Payout Ratio |
|
80.25% |
71.33% |
147.74% |
2,814.93% |
368.66% |
-225.03% |
899.22% |
-187.72% |
-199.80% |
2,055.41% |
-4,088.00% |
Key Financial Trends
Apollo Commercial Real Estate Finance (NYSE: ARI) has shown notable financial trends over the last few years up to Q2 2025. Here are the key points extracted from the quarterly cashflow, income, and balance sheet statements:
- The company reported positive consolidated net income in Q2 2025 of approximately $20.7 million, continuing a recovery trend since large losses in early 2023.
- Net interest income has been consistently positive with Q2 2025 showing $43.1 million, slightly up from prior quarters, highlighting stable earnings from core loan operations.
- Strong operating cash flow in Q2 2025 of $63.2 million indicates good cash generation abilities from ongoing operations.
- Issuance of debt was substantial in Q2 2025, at about $1.6 billion, which suggests active management of capital structure to fund growth or refinancing.
- Total assets increased steadily from about $9.5 billion in Q1 2023 to nearly $9.8 billion as of Q2 2025, driven by growth in loans and leases.
- The company maintains a significant long-term debt level at roughly $7.8 billion in Q2 2025, requiring careful debt servicing but typical for a real estate finance company.
- Dividends paid to common shareholders remain consistent at $0.25 per share in recent quarters, reflecting steady shareholder returns amid earnings fluctuations.
- Non-interest income shows volatility due to net realized and unrealized capital losses on investments (negative $12.7 million in Q2 2025), impacting overall profitability.
- Provision for credit losses has been variable but elevated in early 2023, indicating stress or cautious reserve building on loan portfolio quality.
- The company's equity declined from about $2.3 billion in early 2023 to approximately $1.85 billion in Q2 2025, partly due to retained earnings deficits, signaling past losses or write-downs affecting book value.
In summary, ARI has stabilized its operations with improving net income and solid cash flow, despite some pressures from investment losses and credit risk provisions over the analysed period. Its asset base and lending remain strong, supported by active debt issuance and management. Investors should watch the company’s handling of credit risk and equity recovery going forward.
08/28/25 11:41 PM ETAI Generated. May Contain Errors.