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Side-by-side financial comparison of Apollo Global Management (APO) and PG&E Corporation (PCG). Click either name above to swap in a different company.
Apollo Global Management is the larger business by last-quarter revenue ($9.9B vs $6.9B, roughly 1.4× PG&E Corporation). PG&E Corporation runs the higher net margin — 12.9% vs 6.9%, a 5.9% gap on every dollar of revenue. On growth, Apollo Global Management posted the faster year-over-year revenue change (86.7% vs 15.0%). Over the past eight quarters, Apollo Global Management's revenue compounded faster (18.4% CAGR vs 7.2%).
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...
Pacific Gas and Electric Company (PG&E) is an American investor-owned utility (IOU). The company is headquartered at Kaiser Center, in Oakland, California. PG&E provides natural gas and electricity to 5.2 million households in the northern two-thirds of California, from Bakersfield and northern Santa Barbara County, almost to the Oregon and Nevada state lines.
APO vs PCG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $9.9B | $6.9B |
| Net Profit | $684.0M | $885.0M |
| Gross Margin | — | — |
| Operating Margin | 17.8% | 21.4% |
| Net Margin | 6.9% | 12.9% |
| Revenue YoY | 86.7% | 15.0% |
| Net Profit YoY | -54.0% | 39.6% |
| EPS (diluted) | $1.09 | $0.39 |
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.
| Q1 26 | — | $6.9B | ||
| Q4 25 | $9.9B | $6.8B | ||
| Q3 25 | $9.8B | $6.3B | ||
| Q2 25 | $6.8B | $5.9B | ||
| Q1 25 | $5.5B | $6.0B | ||
| Q4 24 | $5.3B | $6.6B | ||
| Q3 24 | $7.8B | $5.9B | ||
| Q2 24 | $6.0B | $6.0B |
| Q1 26 | — | $885.0M | ||
| Q4 25 | $684.0M | $670.0M | ||
| Q3 25 | $1.7B | $850.0M | ||
| Q2 25 | $630.0M | $549.0M | ||
| Q1 25 | $442.0M | $634.0M | ||
| Q4 24 | $1.5B | $674.0M | ||
| Q3 24 | $811.0M | $579.0M | ||
| Q2 24 | $853.0M | $524.0M |
| Q1 26 | — | 21.4% | ||
| Q4 25 | 17.8% | 18.0% | ||
| Q3 25 | 29.5% | 19.3% | ||
| Q2 25 | 12.4% | 18.6% | ||
| Q1 25 | 21.3% | 20.4% | ||
| Q4 24 | 32.6% | 15.4% | ||
| Q3 24 | 26.8% | 17.3% | ||
| Q2 24 | 23.9% | 18.9% |
| Q1 26 | — | 12.9% | ||
| Q4 25 | 6.9% | 9.8% | ||
| Q3 25 | 17.7% | 13.6% | ||
| Q2 25 | 9.2% | 9.3% | ||
| Q1 25 | 8.0% | 10.6% | ||
| Q4 24 | 28.1% | 10.2% | ||
| Q3 24 | 10.4% | 9.7% | ||
| Q2 24 | 14.2% | 8.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | $1.09 | $0.29 | ||
| Q3 25 | $2.78 | $0.37 | ||
| Q2 25 | $0.99 | $0.24 | ||
| Q1 25 | $0.68 | $0.28 | ||
| Q4 24 | $2.41 | $0.30 | ||
| Q3 24 | $1.29 | $0.27 | ||
| Q2 24 | $1.35 | $0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | $13.4B | — |
| Stockholders' EquityBook value | $23.3B | — |
| Total Assets | $460.9B | — |
| Debt / EquityLower = less leverage | 0.57× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $713.0M | ||
| Q3 25 | — | $404.0M | ||
| Q2 25 | — | $494.0M | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $940.0M | ||
| Q3 24 | — | $895.0M | ||
| Q2 24 | — | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | $13.4B | $57.4B | ||
| Q3 25 | $12.6B | — | ||
| Q2 25 | $12.1B | — | ||
| Q1 25 | $10.6B | — | ||
| Q4 24 | $10.6B | $53.6B | ||
| Q3 24 | $9.8B | — | ||
| Q2 24 | $9.8B | — |
| Q1 26 | — | — | ||
| Q4 25 | $23.3B | $32.5B | ||
| Q3 25 | $23.1B | $32.0B | ||
| Q2 25 | $19.3B | $31.2B | ||
| Q1 25 | $18.0B | $30.7B | ||
| Q4 24 | $17.3B | $30.1B | ||
| Q3 24 | $17.9B | $26.8B | ||
| Q2 24 | $15.3B | $26.3B |
| Q1 26 | — | — | ||
| Q4 25 | $460.9B | $141.6B | ||
| Q3 25 | $449.5B | $138.2B | ||
| Q2 25 | $419.6B | $136.4B | ||
| Q1 25 | $395.0B | $135.4B | ||
| Q4 24 | $377.9B | $133.7B | ||
| Q3 24 | $368.7B | $132.3B | ||
| Q2 24 | $346.5B | $130.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.57× | 1.76× | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.63× | — | ||
| Q1 25 | 0.59× | — | ||
| Q4 24 | 0.61× | 1.78× | ||
| Q3 24 | 0.55× | — | ||
| Q2 24 | 0.64× | — |
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 | — |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | $4.7B | $2.0B | ||
| Q3 25 | $303.0M | $2.9B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.0B | $2.8B | ||
| Q4 24 | $-4.0M | $1.9B | ||
| Q3 24 | $1.9B | $3.1B | ||
| Q2 24 | $1.3B | $711.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-1.2B | ||
| Q3 25 | — | $-80.0M | ||
| Q2 25 | — | $-2.0B | ||
| Q1 25 | — | $213.0M | ||
| Q4 24 | — | $-896.0M | ||
| Q3 24 | — | $526.0M | ||
| Q2 24 | — | $-1.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | -17.6% | ||
| Q3 25 | — | -1.3% | ||
| Q2 25 | — | -34.0% | ||
| Q1 25 | — | 3.6% | ||
| Q4 24 | — | -13.5% | ||
| Q3 24 | — | 8.9% | ||
| Q2 24 | — | -26.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 46.4% | ||
| Q3 25 | — | 46.9% | ||
| Q2 25 | — | 52.0% | ||
| Q1 25 | — | 44.0% | ||
| Q4 24 | — | 42.6% | ||
| Q3 24 | — | 43.8% | ||
| Q2 24 | — | 38.4% |
| Q1 26 | — | — | ||
| Q4 25 | 6.83× | 2.93× | ||
| Q3 25 | 0.17× | 3.35× | ||
| Q2 25 | 2.00× | 1.93× | ||
| Q1 25 | 2.29× | 4.49× | ||
| Q4 24 | -0.00× | 2.87× | ||
| Q3 24 | 2.29× | 5.41× | ||
| Q2 24 | 1.56× | 1.36× |
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% |
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
