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Apollo Commercial Real Estate Finance, Inc. operates as a real estate investment trust that originates, acquires, invests in, and manages commercial first mortgage loans, subordinate financings, and other commercial real estate-related debt investments. The company is qualified as a REIT under the Internal Revenue Code. As a REIT, it would not be subject to federal income taxes, if the company distributes at least 90% of its REIT taxable income to its stockholders. Apollo Commercial Real Estate Finance, Inc. was incorporated in 2009 and is based in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $273M | - | $127M | $42M | 6.8% | 39.4% | -205.9% |
| 2024 | $196M | - | $-120M | $31M | -6.4% | -26.4% | -305.8% |
| 2023 | $266M | - | $58M | $201M | 2.6% | -27.9% | -78.1% |
| 2022 | $369M | - | $265M | $235M | 11.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 368.76 | 266.01 | 195.66 | 272.83 |
| Pretax Income | - | 265.23 | 58.57 | -119.24 | 127.05 |
| Tax Provision | - | 0 | 0.44 | 0.39 | 0.33 |
| Net Income | - | 265.23 | 58.13 | -119.64 | 126.72 |
| Net Income Common Stockholders | - | 248.83 | 41.50 | -135.16 | 111.91 |
| Interest Expense | - | 270.52 | 466.11 | 503.95 | 460.09 |
| Interest Income | - | 512.10 | 718.28 | 702.93 | 626.78 |
| Selling General And Administration | - | 29.66 | 29.52 | 29.65 | 27.41 |
| Normalized Income | - | 265.23 | 57.64 | -119.64 | 126.72 |
| Market Cap | 1,543.05 | 1,543.05 | 1,543.05 | 1,543.05 | 1,543.05 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Apollo Commercial Real Estate Finance, Inc.this co. | ARI | $1.7B | 12.18↓ discount | 0.83 | 6.8% | - |
| Diversified Healthcare Trust | DHC | $1.8B | - | 1.10 | -17.2% | 18.61 |
| SmartStop Self Storage REIT, Inc. | SMA | $1.8B | - | 1.48 | -0.1% | 22.00 |
| Century Communities, Inc. | CCS | $1.8B | 11.66 | 0.66 | 5.7% | 12.96 |
| LTC Properties, Inc. |
| 2021 | - | - | - | - | - | - | - |
| LTC |
| $1.8B |
| 16.05 |
| 1.76 |
| 11.0% |
| 13.80 |
| Empire State Realty Trust, Inc. | ESRT | $1.7B | 22.48 | 0.90 | 2.6% | 12.71 |
| Sila Realty Trust, Inc. | SILA | $1.7B | 50.72 | 1.25 | 2.5% | 15.47 |
| Innovative Industrial Properties, Inc. | IIPR | $1.7B | 13.51 | 0.89 | 6.6% | 9.21 |
| Ellington Financial Inc. | EFC | $1.6B | 11.15 | 1.09 | 9.8% | - |
| Peer Median | - | 14.78 | 1.10 | 4.2% | 13.80 | |