vs
Side-by-side financial comparison of Apollo Global Management (APO) and HA Sustainable Infrastructure Capital, Inc. (HASI). Click either name above to swap in a different company.
Apollo Global Management is the larger business by last-quarter revenue ($9.9B vs $114.8M, roughly 85.9× HA Sustainable Infrastructure Capital, Inc.). Apollo Global Management runs the higher net margin — 6.9% vs -46.8%, a 53.8% gap on every dollar of revenue. On growth, Apollo Global Management posted the faster year-over-year revenue change (86.7% vs 13.3%). Over the past eight quarters, Apollo Global Management's revenue compounded faster (18.4% CAGR vs 4.2%).
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...
HA Sustainable Infrastructure Capital, Inc. (HASI) is a specialized investment firm focused on sustainable infrastructure assets covering renewable energy, energy efficiency, sustainable real estate and low-carbon utility segments. It primarily operates in North American markets, providing long-term capital to eligible sustainable projects and delivering stable risk-adjusted returns to investors through recurring cash flows from operational underlying assets.
APO vs HASI — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $9.9B | $114.8M |
| Net Profit | $684.0M | $-53.8M |
| Gross Margin | — | — |
| Operating Margin | 17.8% | -57.4% |
| Net Margin | 6.9% | -46.8% |
| Revenue YoY | 86.7% | 13.3% |
| Net Profit YoY | -54.0% | -176.7% |
| EPS (diluted) | $1.09 | $-0.38 |
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 | $114.8M | ||
| Q3 25 | $9.8B | $103.1M | ||
| Q2 25 | $6.8B | $85.7M | ||
| Q1 25 | $5.5B | $96.9M | ||
| Q4 24 | $5.3B | $101.3M | ||
| Q3 24 | $7.8B | $82.0M | ||
| Q2 24 | $6.0B | $94.5M | ||
| Q1 24 | $7.0B | $105.8M |
| Q4 25 | $684.0M | $-53.8M | ||
| Q3 25 | $1.7B | $83.3M | ||
| Q2 25 | $630.0M | $98.4M | ||
| Q1 25 | $442.0M | $56.6M | ||
| Q4 24 | $1.5B | $70.1M | ||
| Q3 24 | $811.0M | $-19.6M | ||
| Q2 24 | $853.0M | $26.5M | ||
| Q1 24 | $1.4B | $123.0M |
| Q4 25 | 17.8% | -57.4% | ||
| Q3 25 | 29.5% | — | ||
| Q2 25 | 12.4% | — | ||
| Q1 25 | 21.3% | 84.7% | ||
| Q4 24 | 32.6% | 90.9% | ||
| Q3 24 | 26.8% | -32.1% | ||
| Q2 24 | 23.9% | 39.5% | ||
| Q1 24 | 31.1% | — |
| Q4 25 | 6.9% | -46.8% | ||
| Q3 25 | 17.7% | 80.8% | ||
| Q2 25 | 9.2% | 114.9% | ||
| Q1 25 | 8.0% | 58.4% | ||
| Q4 24 | 28.1% | 69.2% | ||
| Q3 24 | 10.4% | -23.9% | ||
| Q2 24 | 14.2% | 28.1% | ||
| Q1 24 | 20.3% | 116.3% |
| Q4 25 | $1.09 | $-0.38 | ||
| Q3 25 | $2.78 | $0.61 | ||
| Q2 25 | $0.99 | $0.74 | ||
| Q1 25 | $0.68 | $0.44 | ||
| Q4 24 | $2.41 | $0.58 | ||
| Q3 24 | $1.29 | $-0.17 | ||
| Q2 24 | $1.35 | $0.23 | ||
| Q1 24 | $2.28 | $0.98 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $110.2M |
| Total DebtLower is stronger | $13.4B | — |
| Stockholders' EquityBook value | $23.3B | $2.7B |
| Total Assets | $460.9B | $8.2B |
| Debt / EquityLower = less leverage | 0.57× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $110.2M | ||
| Q3 25 | — | $301.8M | ||
| Q2 25 | — | $86.5M | ||
| Q1 25 | — | $67.4M | ||
| Q4 24 | — | $129.8M | ||
| Q3 24 | — | $44.1M | ||
| Q2 24 | — | $145.7M | ||
| Q1 24 | — | $61.4M |
| 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 | $2.7B | ||
| Q3 25 | $23.1B | $2.7B | ||
| Q2 25 | $19.3B | $2.6B | ||
| Q1 25 | $18.0B | $2.5B | ||
| Q4 24 | $17.3B | $2.4B | ||
| Q3 24 | $17.9B | $2.3B | ||
| Q2 24 | $15.3B | $2.3B | ||
| Q1 24 | $14.8B | $2.3B |
| Q4 25 | $460.9B | $8.2B | ||
| Q3 25 | $449.5B | $8.2B | ||
| Q2 25 | $419.6B | $7.6B | ||
| Q1 25 | $395.0B | $7.5B | ||
| Q4 24 | $377.9B | $7.1B | ||
| Q3 24 | $368.7B | $6.7B | ||
| Q2 24 | $346.5B | $6.7B | ||
| Q1 24 | $334.1B | $6.7B |
| 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 | $246.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 6.83× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.7B | $246.7M | ||
| Q3 25 | $303.0M | $-121.8M | ||
| Q2 25 | $1.3B | $79.6M | ||
| Q1 25 | $1.0B | $-37.1M | ||
| Q4 24 | $-4.0M | $-12.2M | ||
| Q3 24 | $1.9B | $21.9M | ||
| Q2 24 | $1.3B | $-24.8M | ||
| Q1 24 | $70.0M | $20.9M |
| Q4 25 | 6.83× | — | ||
| Q3 25 | 0.17× | -1.46× | ||
| Q2 25 | 2.00× | 0.81× | ||
| Q1 25 | 2.29× | -0.66× | ||
| Q4 24 | -0.00× | -0.17× | ||
| Q3 24 | 2.29× | — | ||
| Q2 24 | 1.56× | -0.94× | ||
| Q1 24 | 0.05× | 0.17× |
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% |
HASI
Segment breakdown not available.
