Apollo Global Management vs BlackRock
Apollo Global Management is the larger business, with $32.05bn of revenue in fiscal 2025 against $24.22bn for BlackRock (1.3 times as much). BlackRock grew faster (89.3% against 22.7%). BlackRock kept more of each dollar of sales as profit: a net margin of 22.9% against 10.9%. BlackRock carries less debt relative to equity (22.8% against 57.3%).
| Latest fiscal year | Apollo Global ManagementAPO, 2025 | BlackRockBLK, 2025 |
|---|---|---|
| Revenue | $32.05bn | $24.22bn |
| Revenue growth | 22.7% | 89.3% |
| Net income | $3.49bn | $5.55bn |
| Operating margin | — | 29.1% |
| Net margin | 10.9% | 22.9% |
| Return on equity | 17.2% | 10.7% |
| Free cash flow | — | $3.55bn |
| Cash | $20.59bn | $11.47bn |
| Total debt | $13.36bn | $12.77bn |
| Debt to equity | 57.3% | 22.8% |
| Dividend per share | $1.99 | — |
| Dividend yield | 1.9% | 1.8% |
| Share buybacks | $773m | — |
| Employees | 4,130 | — |
| Market value | $65.44bn | $179.92bn |
| Price vs our value range | — | — |
| Moat score | — | — |
| Insider trades, 12 months | 0 buys, 7 sales | 0 buys, 33 sales |