Apollo Global ManagementAPO +0.42%75 3-Year ROIIC % is 4.69 as of Dec. 2025, which is 205% above its 10-year median of 1.54. GuruFocus rates APO with a GF Score™ of 75/100 and a GF Value™ of $133.61 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 654 Asset Management companies, Apollo Global Management ranks better than 55.05% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Apollo Global Management's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 4.69%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Apollo Global Management's 3-Year ROIIC % or its related term are showing as below:
APO's 3-Year ROIIC % is ranked better than 55.05% of 654
companies
in the Asset Management industry
Industry Median: 2.15
vs APO: 4.69
Apollo Global Management (NYSE:APO) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Apollo Global Management 3-Year ROIIC % Related Terms
Apollo Global Management 3-Year ROIIC % Historical Data
* 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.
For the Asset Management subindustry, Apollo Global Management's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Apollo Global Management's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Apollo Global Management's 3-Year ROIIC % falls into.
Apollo Global Management 3-Year ROIIC % Calculation
Apollo Global Management's 3-Year ROIIC % for the quarter that ended in Dec. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 6679.8962 (Dec. 2025) - -3613.75 (Dec. 2022) )
/
( 516482 (Dec. 2025) - 296996 (Dec. 2022) )
=
10293.6462
/
219486
=
4.69%***
* 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Apollo Global Management (APO) has a 3-Year ROIIC % of 4.69 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Apollo Global Management and its competitors. This is 205% above median its historical median of 1.54. According to the industry distribution chart, Apollo Global Management ranks #294 out of 654 companies in the Asset Management industry, placing it in the top 45%.
Is Apollo Global Management's 3-Year ROIIC % too high?
Apollo Global Management's current 3-Year ROIIC % of 4.69 is 205% above median its 10-year median of 1.54. The Asset Management industry median 3-Year ROIIC % is 2.15. Apollo Global Management's value of 4.69 is 118.1% above this industry median. Based on the distribution chart, Apollo Global Management ranks #294 out of 654 companies in the Asset Management industry, which is above the industry midpoint. Overall, Apollo Global Management has a GF Score™ of 75/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Apollo Global Management's 3-Year ROIIC % compare to KKR and STT?
According to the Asset Management industry distribution chart, Apollo Global Management ranks #294 out of 654 companies for 3-Year ROIIC %. This puts Apollo Global Management in the upper half of its industry. The industry median 3-Year ROIIC % is 2.15. Apollo Global Management's value of 4.69 is 118.1% above this benchmark. While the company's 10-year median is 1.54 vs. the industry median of 2.15, 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 3-Year ROIIC % for an Asset Management company?
The median 3-Year ROIIC % among Asset Management companies is 2.15, based on 654 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Apollo Global Management's current 3-Year ROIIC % of 4.69 is 118.1% 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Apollo Global Management and its competitors. For the Asset Management industry, the median 3-Year ROIIC % is 2.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Apollo Global Management's current 3-Year ROIIC % is 4.69, which is 205% above median its own 10-year median of 1.54. 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 (APO) is currently considered Modestly Undervalued. The stock's GF Value™ is $133.61, compared to a current price of $120.34 — trading 9.9% below its estimated fair value. The current 3-Year ROIIC % is 4.69, which is 205% above median its 10-year median of 1.54 and 118.1% above the Asset Management industry median of 2.15. Apollo Global Management's overall GF Score™ is 75/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Apollo Global Management (APO), the current 3-Year ROIIC % is 4.69 as of Dec. 2025. 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 (APO) Overvalued in 2026?
Based on GuruFocus' analysis, Apollo Global Management stock appears to be undervalued.
The current stock price of $120.34 is trading 9.9% below its estimated GF Value™ of $133.61.
GuruFocus considers Apollo Global Management to be Modestly Undervalued.
Key valuation signals for APO:
3-Year ROIIC %: 4.69 (205% above median its 10-year median of 1.54)
GF Value™: $133.61 vs. price of $120.34 (9.9% below fair value)
Industry Position: 118.1% above the Asset Management median (#294 of 654)
No single metric tells the full story. See the APO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
75GF Score
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