Apollo Reports Q4 Preliminary Net Investment Income of $325M

Apollo Global Management, Inc. APO and its subsidiary Athene Holding Ltd. reported preliminary estimates of the company’s alternative net investment income for the fourth quarter ended Dec. 31, 2025.

The metric is a component of Spread Related Earnings, which is used to assess the performance of the company’s Retirement Services segment.

APO’s Preliminary Net Investment Income Details

The company estimates alternative net investment income to be approximately $325 million (pre-tax) for the fourth quarter ended Dec. 31, 2025, implying a 10% annualized return on alternative net investments.

Among these alternative net investments, Athene’s pooled investment vehicle, which holds the majority of its alternative assets, is estimated to deliver a 10% annualized return for the fourth quarter. Other alternative investments, including retirement services platforms, are expected to return nearly 7% during the same period. These estimates exclude income attributable to non-controlling interests.

The fourth quarter of 2025 alternative investment income is expected to be higher than the $269 million reported in the fourth quarter of 2024.

Alternative investment income is projected to grow steadily, supported by global economic expansion, technological advancements, digital innovation in financial services, and rising demand for capital raising.

APO’s Zacks Rank & Price Performance

APO’s shares have gained 20% in the past three months compared with the industry’s 3.5% growth.

The company presently carries a Zacks Rank #3 (Hold).

Better-Ranked Finance Stocks

Other notable stocks are Ares Management Corporation ARES and T. Rowe Price Group, Inc. TROW. Each stock presently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

ARES’s earnings estimates for 2025 have remained unchanged to $5.08 per share in the past 30 days. Its shares have gained 16.1% over the past three months.

TROW’s 2025 earnings estimates have also been revised upward to $9.76 per share in the past 30 days. Its shares have gained 1.9% over the past three months.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research