Apollo Global Management (MEX:APO1) Cyclically Adjusted PB Ratio: 9.10 (As of Jul. 30, 2026) — 43% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

MEX:APO1 Apollo Global Management Inc MEX:APO1
76 GF Score
Price MXN2,123.00
GF Value MXN2,318.87
Valuation Fairly Valued
! 5 Warning Signs
View Full Analysis

What is Apollo Global Management Cyclically Adjusted PB Ratio?

Apollo Global Management MEX:APO1 76 Cyclically Adjusted PB Ratio is 9.10 as of Jul. 30, 2026, which is 43% above its 10-year median of 6.35. GuruFocus rates MEX:APO1 with a GF Score™ of 76/100 and a GF Value™ of MXN2,318.87 (Fairly Valued). The stock has 5 warning signs investors should review. Among 999 Asset Management companies, Apollo Global Management ranks worse than 97.3% on this metric.

As of today (2026-07-30), Apollo Global Management's current share price is MXN2123.00. Apollo Global Management's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was MXN233.17. Apollo Global Management's Cyclically Adjusted PB Ratio for today is 9.10.

The historical rank and industry rank for Apollo Global Management's Cyclically Adjusted PB Ratio or its related term are showing as below:

MEX:APO1' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.93   Med: 6.35   Max: 19.25
Current: 8.91

During the past years, Apollo Global Management's highest Cyclically Adjusted PB Ratio was 19.25. The lowest was 2.93. And the median was 6.35.

MEX:APO1's Cyclically Adjusted PB Ratio is ranked worse than
97.3% of 999 companies
in the Asset Management industry
Industry Median: 0.84 vs MEX:APO1: 8.91

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Apollo Global Management's adjusted book value per share data for the three months ended in Mar. 2026 was MXN580.324. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is MXN233.17 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Apollo Global Management  (MEX:APO1) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Apollo Global Management Cyclically Adjusted PB Ratio Related Terms


Apollo Global Management Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Apollo Global Management's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Apollo Global Management Cyclically Adjusted PB Ratio Chart

Apollo Global Management Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.35 6.95 10.89 17.23 11.58

Apollo Global Management Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 13.55 13.10 11.39 11.58 8.29

MEX:APO1 vs KKR, STT, AMP: Cyclically Adjusted PB Ratio Comparison

For the Asset Management subindustry, Apollo Global Management's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Apollo Global Management Cyclically Adjusted PB Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Apollo Global Management's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Apollo Global Management's Cyclically Adjusted PB Ratio falls into.


MEX:APO1
76GF Score
Apollo Global Management Inc MEX:APO1
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Apollo Global Management Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Apollo Global Management's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=2123.00/233.17
=9.10

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Apollo Global Management's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Apollo Global Management's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=580.324/330.2130*330.2130
=580.324

Current CPI (Mar. 2026) = 330.2130.

Apollo Global Management Quarterly Data

Book Value per Share CPI Adj_Book
201606 68.840 241.018 94.316
201609 75.680 241.428 103.511
201612 92.837 241.432 126.976
201703 91.580 243.801 124.039
201706 89.805 244.955 121.062
201709 99.872 246.819 133.616
201712 120.545 246.524 161.467
201803 90.198 249.554 119.351
201806 97.070 251.989 127.203
201809 99.827 252.439 130.583
201812 80.137 251.233 105.330
201903 73.910 254.202 96.010
201906 79.070 256.143 101.935
201909 107.444 256.759 138.182
201912 109.781 256.974 141.069
202003 0.248 258.115 0.317
202006 37.749 257.797 48.353
202009 51.701 260.280 65.592
202012 76.058 260.474 96.422
202103 121.732 264.877 151.759
202106 155.801 271.696 189.357
202109 175.435 274.310 211.188
202112 266.628 278.802 315.794
202203 383.765 287.504 440.774
202206 129.616 296.311 144.446
202209 -47.032 296.808 -52.325
202212 227.001 296.797 252.559
202303 256.495 301.836 280.609
202306 248.897 305.109 269.376
202309 216.215 307.789 231.967
202312 378.074 306.746 406.998
202403 390.520 312.332 412.877
202406 446.314 314.175 469.097
202409 572.979 315.301 600.078
202412 584.487 315.605 611.540
202503 594.560 319.799 613.921
202506 589.968 322.561 603.964
202509 687.099 324.800 698.550
202512 682.404 324.054 695.374
202603 580.324 330.213 580.324

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PB Ratio of 9.10 mean?
Apollo Global Management (MEX:APO1) has a Cyclically Adjusted PB Ratio of 9.10 as of Jul. 30, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Apollo Global Management and its competitors. This is 43% above median its historical median of 6.35. Over the past decade, Apollo Global Management's Cyclically Adjusted PB Ratio has ranged from 2.93 to 19.25. According to the industry distribution chart, Apollo Global Management ranks #972 out of 999 companies in the Asset Management industry, placing it in the top 97.3%.
Is Apollo Global Management's Cyclically Adjusted PB Ratio too high?
Apollo Global Management's current Cyclically Adjusted PB Ratio of 9.10 is 43% above median its 10-year median of 6.35. Over the past 10 years, this metric has ranged from a low of 2.93 to a high of 19.25. The Asset Management industry median Cyclically Adjusted PB Ratio is 0.84. Apollo Global Management's value of 9.10 is 983.3% above this industry median. Based on the distribution chart, Apollo Global Management ranks #972 out of 999 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Apollo Global Management has a GF Score™ of 76/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Apollo Global Management's Cyclically Adjusted PB Ratio compare to KKR and STT?
According to the Asset Management industry distribution chart, Apollo Global Management ranks #972 out of 999 companies for Cyclically Adjusted PB Ratio. This places Apollo Global Management in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.84. Apollo Global Management's value of 9.10 is 983.3% above this benchmark. Historically, Apollo Global Management's own Cyclically Adjusted PB Ratio has ranged from 2.93 to 19.25 over the past decade. While the company's 10-year median is 6.35 vs. the industry median of 0.84, Apollo Global Management has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for an Asset Management company?
The median Cyclically Adjusted PB Ratio among Asset Management companies is 0.84, based on 999 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Apollo Global Management's current Cyclically Adjusted PB Ratio of 9.10 is 983.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Apollo Global Management and its competitors. For the Asset Management industry, the median Cyclically Adjusted PB Ratio is 0.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Apollo Global Management's current Cyclically Adjusted PB Ratio is 9.10, which is 43% above median its own 10-year median of 6.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Apollo Global Management stock overvalued right now?
Based on GuruFocus' analysis, Apollo Global Management (MEX:APO1) is currently considered Fairly Valued. The stock's GF Value™ is MXN2,318.87, compared to a current price of MXN2,123.00 — trading 8.4% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 9.10, which is 43% above median its 10-year median of 6.35 and 983.3% above the Asset Management industry median of 0.84. Apollo Global Management's overall GF Score™ is 76/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Apollo Global Management (MEX:APO1), the current Cyclically Adjusted PB Ratio is 9.10 as of Jul. 30, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Apollo Global Management (MEX:APO1) Overvalued in 2026?

Based on GuruFocus' analysis, Apollo Global Management stock appears to be undervalued. The current stock price of MXN2,123.00 is trading 8.4% below its estimated GF Value™ of MXN2,318.87. GuruFocus considers Apollo Global Management to be Fairly Valued.

Key valuation signals for MEX:APO1:

  • Cyclically Adjusted PB Ratio: 9.10 (43% above median its 10-year median of 6.35)
  • GF Value™: MXN2,318.87 vs. price of MXN2,123.00 (8.4% below fair value)
  • GF Score™: 76/100 with 5 warning signs
  • Industry Position: 983.3% above the Asset Management median (#972 of 999)

No single metric tells the full story. See the MEX:APO1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Apollo Global Management Business Description

Address 9 West 57th Street, 42nd Floor, New York, NY, USA, 10019
Apollo is one of the world's largest alternative asset managers, with $938.4 billion in total assets under management, or AUM, including $709.1 billion in fee-earning assets, at the end of 2025. The company has two core operating segments: asset management and retirement services. Apollo operates with scale in each of its major product lines—private equity (with $128.4 billion in total AUM and $75.0 billion in fee-earning AUM), real estate/real assets ($60.8 billion/$27.6 billion), and credit ($749.2 billion/$606.5 billion). Apollo has a distribution profile that is likely not too far off from the industry averages—with 84% of its assets held by institutional investors and 16% by high-net-worth clients.
76GF Score

Get the complete analysis for MEX:APO1

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN2,123.00
Price
MXN2,318.87
GF Value