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Side-by-side financial comparison of Apollo Global Management (APO) and CBRE Group (CBRE). Click either name above to swap in a different company.
CBRE Group is the larger business by last-quarter revenue ($11.5B vs $9.9B, roughly 1.2× Apollo Global Management). Apollo Global Management runs the higher net margin — 6.9% vs 3.6%, a 3.3% gap on every dollar of revenue. On growth, Apollo Global Management posted the faster year-over-year revenue change (86.7% vs 12.3%). Over the past eight quarters, CBRE Group's revenue compounded faster (21.1% CAGR vs 18.4%).
Apollo Global Management, Inc. is an American asset management firm that primarily invests in alternative assets. As of 2025, the company had $840 billion of assets under management, including $392 billion invested in credit, including mezzanine capital, hedge funds, non-performing loans, and collateralized loan obligations, $99 billion invested in private equity, and $46.2 billion invested in real assets, which includes real estate and infrastructure. The company invests money on behalf of p...
CBRE can refer to:Canadian Brotherhood of Railway Employees, a railway trade union in Canada Chemical, Biological, Radiological and Explosive Defence Group, a counter-terrorism unit in Singapore CBRE Group, a multinational real estate corporation Certified broadcast radio engineer, a professional title regulated by The Society of Broadcast Engineers
APO vs CBRE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $9.9B | $11.5B |
| Net Profit | $684.0M | $416.0M |
| Gross Margin | — | 17.3% |
| Operating Margin | 17.8% | 5.4% |
| Net Margin | 6.9% | 3.6% |
| Revenue YoY | 86.7% | 12.3% |
| Net Profit YoY | -54.0% | -14.6% |
| EPS (diluted) | $1.09 | $1.38 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $9.9B | $11.5B | ||
| Q3 25 | $9.8B | $10.1B | ||
| Q2 25 | $6.8B | $9.6B | ||
| Q1 25 | $5.5B | $8.8B | ||
| Q4 24 | $5.3B | $10.2B | ||
| Q3 24 | $7.8B | $8.8B | ||
| Q2 24 | $6.0B | $8.2B | ||
| Q1 24 | $7.0B | $7.8B |
| Q4 25 | $684.0M | $416.0M | ||
| Q3 25 | $1.7B | $363.0M | ||
| Q2 25 | $630.0M | $215.0M | ||
| Q1 25 | $442.0M | $163.0M | ||
| Q4 24 | $1.5B | $487.0M | ||
| Q3 24 | $811.0M | $225.0M | ||
| Q2 24 | $853.0M | $130.0M | ||
| Q1 24 | $1.4B | $126.0M |
| Q4 25 | — | 17.3% | ||
| Q3 25 | — | 17.7% | ||
| Q2 25 | — | 17.1% | ||
| Q1 25 | — | 17.1% | ||
| Q4 24 | — | 18.7% | ||
| Q3 24 | — | 18.1% | ||
| Q2 24 | — | 17.6% | ||
| Q1 24 | — | 17.1% |
| Q4 25 | 17.8% | 5.4% | ||
| Q3 25 | 29.5% | 4.8% | ||
| Q2 25 | 12.4% | 3.9% | ||
| Q1 25 | 21.3% | 3.1% | ||
| Q4 24 | 32.6% | 5.8% | ||
| Q3 24 | 26.8% | 4.2% | ||
| Q2 24 | 23.9% | 3.0% | ||
| Q1 24 | 31.1% | 2.6% |
| Q4 25 | 6.9% | 3.6% | ||
| Q3 25 | 17.7% | 3.6% | ||
| Q2 25 | 9.2% | 2.2% | ||
| Q1 25 | 8.0% | 1.9% | ||
| Q4 24 | 28.1% | 4.8% | ||
| Q3 24 | 10.4% | 2.5% | ||
| Q2 24 | 14.2% | 1.6% | ||
| Q1 24 | 20.3% | 1.6% |
| Q4 25 | $1.09 | $1.38 | ||
| Q3 25 | $2.78 | $1.21 | ||
| Q2 25 | $0.99 | $0.72 | ||
| Q1 25 | $0.68 | $0.54 | ||
| Q4 24 | $2.41 | $1.58 | ||
| Q3 24 | $1.29 | $0.73 | ||
| Q2 24 | $1.35 | $0.42 | ||
| Q1 24 | $2.28 | $0.41 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.9B |
| Total DebtLower is stronger | $13.4B | — |
| Stockholders' EquityBook value | $23.3B | $8.9B |
| Total Assets | $460.9B | $30.9B |
| Debt / EquityLower = less leverage | 0.57× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $928.0M | ||
| Q1 24 | — | $1.0B |
| Q4 25 | $13.4B | — | ||
| Q3 25 | $12.6B | — | ||
| Q2 25 | $12.1B | — | ||
| Q1 25 | $10.6B | — | ||
| Q4 24 | $10.6B | — | ||
| Q3 24 | $9.8B | — | ||
| Q2 24 | $9.8B | — | ||
| Q1 24 | $9.6B | — |
| Q4 25 | $23.3B | $8.9B | ||
| Q3 25 | $23.1B | $8.5B | ||
| Q2 25 | $19.3B | $8.3B | ||
| Q1 25 | $18.0B | $8.3B | ||
| Q4 24 | $17.3B | $8.4B | ||
| Q3 24 | $17.9B | $8.7B | ||
| Q2 24 | $15.3B | $8.4B | ||
| Q1 24 | $14.8B | $8.3B |
| Q4 25 | $460.9B | $30.9B | ||
| Q3 25 | $449.5B | $28.6B | ||
| Q2 25 | $419.6B | $27.7B | ||
| Q1 25 | $395.0B | $26.4B | ||
| Q4 24 | $377.9B | $24.4B | ||
| Q3 24 | $368.7B | $24.8B | ||
| Q2 24 | $346.5B | $23.5B | ||
| Q1 24 | $334.1B | $23.0B |
| Q4 25 | 0.57× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.63× | — | ||
| Q1 25 | 0.59× | — | ||
| Q4 24 | 0.61× | — | ||
| Q3 24 | 0.55× | — | ||
| Q2 24 | 0.64× | — | ||
| Q1 24 | 0.65× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $4.7B | $1.2B |
| Free Cash FlowOCF − Capex | — | $1.1B |
| FCF MarginFCF / Revenue | — | 9.4% |
| Capex IntensityCapex / Revenue | — | 1.3% |
| Cash ConversionOCF / Net Profit | 6.83× | 2.94× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.7B | $1.2B | ||
| Q3 25 | $303.0M | $827.0M | ||
| Q2 25 | $1.3B | $57.0M | ||
| Q1 25 | $1.0B | $-546.0M | ||
| Q4 24 | $-4.0M | $1.3B | ||
| Q3 24 | $1.9B | $573.0M | ||
| Q2 24 | $1.3B | $287.0M | ||
| Q1 24 | $70.0M | $-492.0M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $743.0M | ||
| Q2 25 | — | $-17.0M | ||
| Q1 25 | — | $-610.0M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $494.0M | ||
| Q2 24 | — | $220.0M | ||
| Q1 24 | — | $-560.0M |
| Q4 25 | — | 9.4% | ||
| Q3 25 | — | 7.4% | ||
| Q2 25 | — | -0.2% | ||
| Q1 25 | — | -7.0% | ||
| Q4 24 | — | 12.2% | ||
| Q3 24 | — | 5.6% | ||
| Q2 24 | — | 2.7% | ||
| Q1 24 | — | -7.2% |
| Q4 25 | — | 1.3% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.9% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | 6.83× | 2.94× | ||
| Q3 25 | 0.17× | 2.28× | ||
| Q2 25 | 2.00× | 0.27× | ||
| Q1 25 | 2.29× | -3.35× | ||
| Q4 24 | -0.00× | 2.75× | ||
| Q3 24 | 2.29× | 2.55× | ||
| Q2 24 | 1.56× | 2.21× | ||
| Q1 24 | 0.05× | -3.90× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APO
| Retirement Services Segment | $8.5B | 86% |
| Asset Management1 | $681.0M | 7% |
| Principal Investing Segment | $624.0M | 6% |
| Management Service Incentive | $96.0M | 1% |
CBRE
| Other | $5.8B | 51% |
| Project Management Segment | $2.2B | 19% |
| Advisory Leasing | $1.5B | 13% |
| Advisory Sales | $756.0M | 7% |
| Property Management | $695.0M | 6% |
| Investment Management Property Management Brokerage And Other Professional Services | $156.0M | 1% |
| Commercial Mortgage Origination | $95.0M | 1% |
| Other Portfolio Services | $87.0M | 1% |
| Loan Servicing | $73.0M | 1% |
| Real Estate Development Services | $60.0M | 1% |
