Apollo Global Management Inc. 7.625% Fixed-Rate Resettable Junior Subordinated Notes due 2053 (APOS)

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Graham-style investor, I start with what this security is: a 7.625% junior subordinated note due 2053, not common equity. At the close on 2026-10-16 it cost $25.04, near the bottom of its 52-week $25.00-$26.72 range. That is roughly face value, so most of the return must come from the coupon and timely payment, not capital appreciation. The issuer's filed results are uneven. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $5.1B, but net income was -$1.9B and diluted EPS -$3.27. By fiscal Q2 2026, the quarter ended 2026-06-30, revenue rebounded to $11.2B, net income to $1.4B, and diluted EPS to $2.15. For FY2025, the period ended 2025-12-31, revenue was $32.0B, net income $3.5B, and diluted EPS $5.54; that is below FY2024's $4.6B net income and $7.33 EPS and FY2023's $5.0B net income and $8.28 EPS. FairStock's computed Lynch category is TURNAROUND—returned to profit after a loss within the last three years. FairStock's P/E, P/B, ROE, ROCE, D/E, dividend yield, beta, and FairStock Score are all N/A in the supplied data, so I cannot establish a statistical bargain from those metrics. The coupon is high, but the subordinated, long-dated structure means I need a margin of safety for credit and reset risk. On the supplied facts, the note looks fairly priced—not a bargain—and the key question is whether Apollo's uneven earnings adequately cover 7.625%.

In plain English: Apollo Global Management is a financial company, and these notes are a long-term loan to Apollo that pays 7.625% a year and is due in 2053. The company's profits have been uneven—a big loss in early 2026 was followed by a profit—so the business looks mixed. At $25.04, the note is near the low end of its recent range and about face value, so it does not look clearly cheap or expensive.

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Data as of 2026-10-16 close · note generated 2026-10-20 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer