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Side-by-side financial comparison of Apollo Commercial Real Estate Finance, Inc. (ARI) and PagerDuty, Inc. (PD). Click either name above to swap in a different company.
PagerDuty, Inc. is the larger business by last-quarter revenue ($124.5M vs $73.3M, roughly 1.7× Apollo Commercial Real Estate Finance, Inc.). PagerDuty, Inc. runs the higher net margin — 129.7% vs 39.9%, a 89.9% gap on every dollar of revenue. On growth, PagerDuty, Inc. posted the faster year-over-year revenue change (4.7% vs 4.0%). Over the past eight quarters, PagerDuty, Inc.'s revenue compounded faster (5.9% CAGR vs -4.6%).
Apollo Commercial Real Estate Finance, Inc. is a real estate investment trust that originates, acquires and manages commercial real estate debt assets including mortgages, mezzanine loans and mortgage-backed securities, primarily operating in the U.S. market to deliver consistent risk-adjusted returns.
PagerDuty, Inc. is an American cloud computing company specializing in a SaaS incident management platform for IT operations departments.
ARI vs PD — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $73.3M | $124.5M |
| Net Profit | $29.2M | $161.6M |
| Gross Margin | — | 85.3% |
| Operating Margin | 39.7% | 6.5% |
| Net Margin | 39.9% | 129.7% |
| Revenue YoY | 4.0% | 4.7% |
| Net Profit YoY | -28.2% | 2827.7% |
| EPS (diluted) | $0.19 | $1.69 |
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 | $73.3M | $124.5M | ||
| Q3 25 | $61.6M | $123.4M | ||
| Q2 25 | $70.9M | $119.8M | ||
| Q1 25 | $65.8M | $121.4M | ||
| Q4 24 | $70.5M | $118.9M | ||
| Q3 24 | $71.6M | $115.9M | ||
| Q2 24 | $81.1M | $111.2M | ||
| Q1 24 | $80.5M | $111.1M |
| Q4 25 | $29.2M | $161.6M | ||
| Q3 25 | $50.8M | $9.6M | ||
| Q2 25 | $20.7M | $-7.2M | ||
| Q1 25 | $26.0M | $-8.8M | ||
| Q4 24 | $40.7M | $-5.9M | ||
| Q3 24 | $-91.5M | $-10.9M | ||
| Q2 24 | $35.8M | $-17.1M | ||
| Q1 24 | $-104.5M | $-28.2M |
| Q4 25 | — | 85.3% | ||
| Q3 25 | — | 84.6% | ||
| Q2 25 | — | 84.0% | ||
| Q1 25 | — | 83.6% | ||
| Q4 24 | — | 83.0% | ||
| Q3 24 | — | 82.7% | ||
| Q2 24 | — | 82.6% | ||
| Q1 24 | — | 81.7% |
| Q4 25 | 39.7% | 6.5% | ||
| Q3 25 | 82.8% | 2.9% | ||
| Q2 25 | 29.4% | -8.6% | ||
| Q1 25 | 39.7% | -9.6% | ||
| Q4 24 | 57.9% | -8.7% | ||
| Q3 24 | -127.8% | -13.8% | ||
| Q2 24 | 44.2% | -19.5% | ||
| Q1 24 | -129.6% | -30.1% |
| Q4 25 | 39.9% | 129.7% | ||
| Q3 25 | 82.4% | 7.8% | ||
| Q2 25 | 29.3% | -6.0% | ||
| Q1 25 | 39.5% | -7.2% | ||
| Q4 24 | 57.7% | -5.0% | ||
| Q3 24 | -127.9% | -9.4% | ||
| Q2 24 | 44.1% | -15.4% | ||
| Q1 24 | -129.8% | -25.3% |
| Q4 25 | $0.19 | $1.69 | ||
| Q3 25 | $0.34 | $0.10 | ||
| Q2 25 | $0.12 | $-0.07 | ||
| Q1 25 | $0.16 | $-0.12 | ||
| Q4 24 | $0.25 | $-0.07 | ||
| Q3 24 | $-0.69 | $-0.14 | ||
| Q2 24 | $0.23 | $-0.26 | ||
| Q1 24 | $-0.76 | $-0.34 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $139.8M | $547.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.9B | $320.5M |
| Total Assets | $9.9B | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.8M | $547.8M | ||
| Q3 25 | $245.9M | $567.9M | ||
| Q2 25 | $177.6M | $597.1M | ||
| Q1 25 | $166.4M | $570.8M | ||
| Q4 24 | $317.4M | $542.2M | ||
| Q3 24 | $194.3M | $599.3M | ||
| Q2 24 | $174.7M | $592.8M | ||
| Q1 24 | $161.2M | $571.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $484.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $489.5M |
| Q4 25 | $1.9B | $320.5M | ||
| Q3 25 | $1.9B | $180.7M | ||
| Q2 25 | $1.8B | $145.7M | ||
| Q1 25 | $1.9B | $129.8M | ||
| Q4 24 | $1.9B | $111.6M | ||
| Q3 24 | $1.9B | $164.7M | ||
| Q2 24 | $2.0B | $174.0M | ||
| Q1 24 | $2.0B | $171.6M |
| Q4 25 | $9.9B | $1.0B | ||
| Q3 25 | $9.5B | $891.5M | ||
| Q2 25 | $9.8B | $926.8M | ||
| Q1 25 | $8.8B | $927.3M | ||
| Q4 24 | $8.4B | $866.8M | ||
| Q3 24 | $9.1B | $916.0M | ||
| Q2 24 | $9.3B | $924.0M | ||
| Q1 24 | $9.2B | $925.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 3.73× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.85× |
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 | $142.5M | $24.8M |
| Free Cash FlowOCF − Capex | — | $24.1M |
| FCF MarginFCF / Revenue | — | 19.3% |
| Capex IntensityCapex / Revenue | — | 0.6% |
| Cash ConversionOCF / Net Profit | 4.88× | 0.15× |
| TTM Free Cash FlowTrailing 4 quarters | — | $117.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $142.5M | $24.8M | ||
| Q3 25 | $31.7M | $34.0M | ||
| Q2 25 | $63.2M | $30.7M | ||
| Q1 25 | $39.3M | $31.4M | ||
| Q4 24 | $200.3M | $22.1M | ||
| Q3 24 | $47.2M | $35.8M | ||
| Q2 24 | $50.2M | $28.6M | ||
| Q1 24 | $52.8M | $22.2M |
| Q4 25 | — | $24.1M | ||
| Q3 25 | — | $33.1M | ||
| Q2 25 | — | $30.2M | ||
| Q1 25 | — | $30.3M | ||
| Q4 24 | — | $21.5M | ||
| Q3 24 | — | $35.1M | ||
| Q2 24 | — | $28.2M | ||
| Q1 24 | — | $21.2M |
| Q4 25 | — | 19.3% | ||
| Q3 25 | — | 26.8% | ||
| Q2 25 | — | 25.2% | ||
| Q1 25 | — | 24.9% | ||
| Q4 24 | — | 18.1% | ||
| Q3 24 | — | 30.3% | ||
| Q2 24 | — | 25.4% | ||
| Q1 24 | — | 19.1% |
| Q4 25 | — | 0.6% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | 4.88× | 0.15× | ||
| Q3 25 | 0.62× | 3.55× | ||
| Q2 25 | 3.05× | — | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | 4.93× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.40× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARI
Segment breakdown not available.
PD
| US | $88.8M | 71% |
| Non Us | $35.7M | 29% |
