APO vs GS
Apollo Global Management, Inc. and Goldman Sachs Group Inc., side by side — 6 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | APO | GS |
|---|---|---|
| Revenue | $32.0B | $58.3B |
| Net income | $3.5B | $17.2B |
| Gross margin | · | · |
| Net margin | 16.9% | 29.5% |
| Return on equity | 17.2% | 13.9% |
| Diluted EPS | $5.54 | $51.32 |
| Dividend / share | $1.99 | $14.00 |
| Payout ratio | 34.4% | 30.7% |
| Free cash flow | · | $-47.2B |
| Equity | $23.3B | $125.0B |
| Net debt / equity | −0.31× | · |
| Current ratio | · | · |
| Revenue CAGR 5y | 68.6% | 5.5% |
| Profit CAGR 5y | 86.0% | 12.7% |
GS bills 1.8× the revenue of APO, and keeps more of each dollar of revenue as profit (29.5% against 16.9%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
6 years side by side
| Fiscal year | APO | GS |
|---|---|---|
| FY2025 | $32.0B | $58.3B |
| FY2024 | $26.1B | $53.5B |
| FY2023 | $32.6B | $46.3B |
| FY2022 | $11.0B | $47.4B |
| FY2021 | $6.0B | $59.3B |
| FY2020 | $2.4B | $44.6B |
Bottom line
| Fiscal year | APO | GS |
|---|---|---|
| FY2025 | $3.5B | $17.2B |
| FY2024 | $4.6B | $14.3B |
| FY2023 | $5.0B | $8.5B |
| FY2022 | $-2.0B | $11.3B |
| FY2021 | $1.8B | $21.6B |
| FY2020 | $157.0M | $9.5B |
6 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$26,234,000,000 | GS |
| FY2024 | −$27,398,000,000 | GS |
| FY2023 | −$13,610,000,000 | GS |
| FY2022 | −$36,397,000,000 | GS |
| FY2021 | −$53,388,000,000 | GS |
| FY2020 | −$42,206,000,000 | GS |
GS has reported the higher revenue in every one of these 6 fiscal years. The gap has narrowed since the earliest year compared.
6 of 15 comparable fiscal years — a year missing data on either side is not counted.
6 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −12.6 pp | GS |
| FY2024 | −2.3 pp | GS |
| FY2023 | +1.5 pp | APO |
| FY2022 | −55.7 pp | GS |
| FY2021 | +35.2 pp | APO |
| FY2020 | −1.4 pp | GS |
The higher net margin has changed hands between APO and GS over this period.
6 of 15 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
APO's net margin has been more volatile than GS's over the 6 comparable fiscal years — 30.0 percentage points of standard deviation against 5.9.
6 of 15 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between APO and GS over these 6 fiscal years — APO led in 2 and GS in 4.
6 of 15 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
APO's return on equity has been more volatile than GS's over the 5 comparable fiscal years — 31.8 percentage points of standard deviation against 4.7.
5 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between APO and GS over these 5 fiscal years — APO led in 4 and GS in 1.
5 of 19 comparable fiscal years — a year missing data on either side is not counted.