Apollo Global Management, Inc. (APO): A Bull Case Theory

We came across a bullish thesis on Apollo Global Management, Inc. on Stock Analysis Compilation’s Substack. In this article, we will summarize the bulls’ thesis on APO. Apollo Global Management, Inc.'s share was trading at $142.78 as of July 2^nd. APO’s trailing and forward P/E were 24.92 and 18.55 respectively according to Yahoo Finance.

Apollo Global Management is emerging as a resilient compounder in the financial sector, capitalizing on market volatility through its scale, origination strength, and balance sheet-driven approach. The company has compounded shareholder returns at an impressive 24% annualized rate over 15 years, earning it a premium valuation that had long kept it on the sidelines of many watchlists. However, the sharp ~30% stock decline from September highs, driven by market volatility, presented a rare buying opportunity in March.

Apollo’s May update reaffirmed its strengths, showing how its leadership in private credit—a secular growth area and an increasingly vital funding source for digital and energy infrastructure—positions it to thrive during public market dislocations. In volatile periods like the GFC, COVID, and the 2022 US banking stress, Apollo has successfully stepped in where public markets pulled back. Most recently, it deployed $14 billion in April at spreads 50 basis points wider than in Q1, locking in superior risk-adjusted returns.

The market, in our view, underappreciates Apollo’s countercyclical resilience. Despite macro uncertainty, the firm posted record fee earnings in Q1, up 21% YoY, alongside 10% dividend growth and $43 billion in net inflows. Backed by $64 billion in liquidity, Apollo made a bold $25 billion investment push in April, becoming the largest active buyer post-market dislocation.

While near-term spread earnings may face some pressure, the ability to deploy capital at attractive returns during dislocations sets the stage for durable long-term growth. Apollo remains on track for its 10% annualized earnings and dividend growth target over the next five years.

Previously we covered a bullish thesis on BlackRock, Inc. by Kroker Equity Research in February 2025, which highlighted the company’s diversified asset management model, leadership in ETFs, and expansion into private markets and technology. The company’s stock price has appreciated approximately by 7.9% since our coverage. This is because the thesis played out with strong inflows and strategic execution. Stock Analysis Compilation shares a similar view but emphasizes Apollo’s resilience in private credit and its countercyclical capital deployment.

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READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

Disclosure: None. This article was originally published at Insider Monkey.