APO
Apollo Global Management LLC Class A
NYSE: APO · FINANCIAL SERVICES · ASSET MANAGEMENT
$133.88
-0.02% today
Updated 2026-06-12
Market cap
$74.23B
P/E ratio
81.49
P/S ratio
2.37x
EPS (TTM)
$1.58
Dividend yield
1.63%
52W range
$99 – $155
Volume
4.0M
Apollo Global Management LLC Class A (APO) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed APO price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$133.88
Today
Analyst consensus
$150.38
+12.32% · 12M
2030 Base
$92.94
-30.58% future
NPV today
$53.12
@ 13% WACC
20 analysts:
14 Buy3 Hold0 Sell
Management guidance
Apollo management has publicly stated AUM topped $1.03 trillion as of Q1 2026 (first time ever). CEO Marc Rowan and President Jim Zelter have emphasized aggressive expansion in private credit, private equity, and alternative assets with target to grow fee-bearing AUM substantially. No explicit 2030 revenue target disclosed, but guidance implies continued double-digit AUM growth and fee income expansion driven by institutional capital flows into alternatives.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
APO · Apollo Global Management LLC Class A · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$92.94
NPV today: $53.12
Base case (2030)
$92.94
NPV today: $53.12
Bull case (2030)
$292.09
NPV today: $166.95
WallStSmart.com
APO financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $30.3B | $24.5B | $32.8B | $42.1B | $51.2B | $59.8B |
| Revenue growth | 16.0% | -23.6% | 33.9% | 28.4% | 21.6% | 16.8% |
| Net margin | — | 22.0% | 20.6% | 20.0% | 19.8% | 19.6% |
| EPS | $8.06 | $9.25 | $11.50 | $14.25 | $17.00 | $19.50 |
| Diluted shares | — | 582M | 588M | 592M | 596M | 601M |
| Net debt | — | $11.62B | $10.28B | $8.55B | $6.44B | $3.98B |
| P/S multiple | — | 1.0x | 1.0x | 1.0x | 1.0x | 1.0x |
| Implied price (base) | — | $22.11 | $38.34 | $56.66 | $75.05 | $92.94 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $59.8B | $59.8B | $59.8B |
| P/S multiple | 1.0x | 1.0x | 3.0x |
| Diluted shares | 601M | 601M | 601M |
| Net debt | $3.98B | $3.98B | $3.98B |
| Implied P/E † | 5x | 5x | 15x |
| 2030 Price | $92.94 | $92.94 | $292.09 |
| NPV @ 13% | $53.12 | $53.12 | $166.95 |
† Implied P/E: Multiples remain elevated across all three scenarios because APO is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $92.94 base case
APO catalysts and risks
Growth catalysts
+ AUM growth trajectory: $1.03T as of Q1 2026, targeting $1.2T+ by 2028 as private credit and alternatives gain institutional mandate
+ Fee-bearing AUM expansion: shift toward higher-margin management fees in private credit, private equity, and retirement solutions (Athene)
+ M&A integration upside: Emerald Holding ($1.5B) and Questex acquisitions expand alternative asset platform and fee diversity
+ Athene profitability: insurance subsidiary growth and spread earnings provide earnings leverage independent of asset management fees
+ Hyperscaler AI/data center demand: Apollo positioning as leading financing source for AI infrastructure capex (Broadcom $35B+ potential deal signaling)
Key risks
- Reputational damage from Epstein-related lawsuit filings: 3 pension funds joined securities class action alleging disclosure failures; could impact fundraising and institutional mandate expansion
- Private credit market stress: recent private credit fund liquidity concerns (article reference: $1.7B missing), valuation transparency issues, and credit quality deterioration could pressure fee growth
- Regulatory scrutiny on private markets: SEC rolling back private market reporting rules under review; tighter disclosure requirements could increase compliance costs
- Net outflows risk if illiquidity spreads: if private credit BDCs continue to underperform, institutional LPs may rotate away from Apollo's alternative offerings
- Interest rate/economic sensitivity: spread earnings and AUM valuations pressured if rates decline sharply or recession emerges (macro shock risk flagged by Apollo CEO at 35%)
Methodology · Apollo Global Management LLC Class A 2030 stock forecast model
Apollo Global Management LLC Class A 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 20 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (4% cumulative for APO by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($3.98B by 2030) |
| 3. Time value | NPV calculated using 13% WACC (CAPM: beta 1.519) |
| 4. Multiple framework | P/S compresses with scale: bear 1.0x / base 1.0x / bull 3.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 21, 2026.
APO price target FAQ
What is the APO price target for 2030?
WallStSmart's Apollo Global Management LLC Class A 2030 base case is $92.94 per share, with a bull case of $292.09 and bear case of $92.94. The NPV of the base case discounted to today at 13% WACC is $53.12.
How is the Apollo Global Management LLC Class A 2030 stock forecast calculated?
The APO 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the APO price target account for dilution?
Apollo Global Management LLC Class A is projected to grow diluted share count from 577M to 601M by 2030 (a 4% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 4%.
What is the analyst consensus on APO stock?
20 analysts cover APO with an average 12-month price target of $150.38. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.