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APO (Apollo Asset Management,) Net-Net Working Capital : $-284.06 (As of Mar. 2025)


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What is Apollo Asset Management, Net-Net Working Capital?

In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.

Apollo Asset Management,'s Net-Net Working Capital for the quarter that ended in Mar. 2025 was $-284.06.

The industry rank for Apollo Asset Management,'s Net-Net Working Capital or its related term are showing as below:

APO's Price-to-Net-Net-Working-Capital is not ranked *
in the Asset Management industry.
Industry Median: 7.18
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Apollo Asset Management, Net-Net Working Capital Historical Data

The historical data trend for Apollo Asset Management,'s Net-Net Working Capital 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.

* Premium members only.

Apollo Asset Management, Net-Net Working Capital Chart

Apollo Asset Management, Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -88.89 -104.01 -216.04 -230.02 -275.85

Apollo Asset Management, Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Net-Net Working Capital 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 -242.31 -251.47 -260.17 -275.85 -284.06

Competitive Comparison of Apollo Asset Management,'s Net-Net Working Capital

For the Asset Management subindustry, Apollo Asset Management,'s Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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 Asset Management,'s Price-to-Net-Net-Working-Capital Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Apollo Asset Management,'s Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Apollo Asset Management,'s Price-to-Net-Net-Working-Capital falls into.


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Apollo Asset Management, Net-Net Working Capital Calculation

Apollo Asset Management,'s Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2024 is calculated as

Net-Net Working Capital(A: Dec. 2024 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(205980+0.75 * 0+0.5 * 0-346915
-1398-13727)/565.739
=-275.85

Apollo Asset Management,'s Net-Net Working Capital (NNWC) per share for the quarter that ended in Mar. 2025 is calculated as

Net-Net Working Capital(Q: Mar. 2025 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(216431+0.75 * 0+0.5 * 0-362701
-1398-14368)/570.432
=-284.06

* 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.

In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.

In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.

This is a conservative way of estimating the company's value.


Apollo Asset Management,  (NYSE:APO) Net-Net Working Capital Explanation

One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.

Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.


Apollo Asset Management, Net-Net Working Capital Related Terms

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Apollo Asset Management, Business Description

Traded in Other Exchanges
Address
9 West 57th Street, 42nd Floor, New York, NY, USA, 10019
Apollo Asset Management, Inc., formerly Apollo Global Management Inc is an alternative investment manager. It serves various sectors such as chemicals, manufacturing and industrial, natural resources, consumer and retail, consumer services, business services, financial services, leisure, and media and telecom and technology. The company operates in three business segments that are Asset Management, Retirement Services, and Principal Investing. It generates maximum revenue from the Retirement Services segment.
Executives
Pauline Richards director ARIES PARTNERS AND ARMOUR REINSURANCE LT, 11 CHURCH STREET, P.O. BOX HM 66, HAMILTON HM 11 D0 00000
Martin Kelly officer: Chief Financial Officer APOLLO GLOBAL MANAGEMENT, LLC, 9 WEST 57TH STREET, 48TH FLOOR, NEW YORK NY 10019
Leon D Black 10 percent owner, other: See remarks. APOLLO ADVISORS LP, 1301 AVENOE OF THE AMERICAS, NEW YORK NY 10019
Louis-jacques Tanguy officer: Chief Acct. Off. & Controller C/O APOLLO GLOBAL MANAGEMENT, INC., 9 WEST 57TH STREET, 43RD FLOOR, NEW YORK NY 10019
James C Zelter director, officer: Co-President (See Remarks) APOLLO INVESTMENT CORPORATION, 9 WEST 57TH STREET, 14TH FLOOR, NEW YORK NY 10019
Scott Kleinman director, officer: Co-President (See Remarks) C/O APOLLO MANAGEMENT L P, 1301 AVENUE OF THE AMERICANS 38TH FL., NEW YORK NY 10018
Mitra O'neill director C/O ATHENE HOLDING LTD., WASHINGTON HOUSE, 16 CHURCH STREET, HAMILTON D0 HM 11
A B Krongard director C/O UNDER ARMOUR, INC., 1020 HULL STREET, BALTIMORE MD 21230
Joshua Harris other: See Remarks 404 WASHINGTON AVE, PH 810, MIAMI FL 33139
Mjh Partners Ii Llc other: See Remarks 404 WASHINGTON AVE, PH 810, MIAMI FL 33139
Patrick Toomey director C/O APOLLO GLOBAL MANAGEMENT, INC., 9 WEST 57TH STREET, 42ND FLOOR, NEW YORK NY 10019
John J Suydam officer: Chief Legal Officer C/O APOLLO MANAGEMENT LP, 9 WEST 57TH STREET, 43RD FLOOR, NEW YORK NY 10019
Clayton Walter Joseph Iii director C/O APOLLO GLOBAL MANAGEMENT, INC., 9 WEST 57TH STREET, 43RD FLOOR, NEW YORK NY 10019
Jessica M Bibliowicz director NATIONAL FINANCIAL PARTNERS CORP., 340 MADISON AVENUE, 20TH FL, NEW YORK NY 10173
James Richard Belardi director, officer: CEO of Athene Holding Ltd. C/O ATHENE HOLDING LTD., WASHINGTON HOUSE, 16 CHURCH STREET, HAMILTON D0 HM 11