News · Apollo Global Management, Inc. (APO) · Financial Services

Apollo falls 2.3% as it launches European Credit Company

Session of October 30, 2026 · Published November 2, 2026 · 3 min read

What happened

Apollo fell 2.3% on October 30, 2026, after an ordinary trading session, even as it launched the European Credit Company with €10 billion of lending capacity and outlined nonprofit support programs (APO). The move was a normal-sized one for the stock; the new initiatives were the main developments around the company, not a stated cause of the price change.

Closing price over the last 30 trading sessions. On October 30, 2026, APO closed at $115.84, down 2.3% on the day and 9.4% lower than 30 sessions earlier.

How big was the move

The stock closed at $115.84, a session decline of fell 2.3%, while trading volume was 1.5 times its 20-day average. The S&P 500 fell 1.8% on the day and the Financial Services sector median fell 0.7%, leaving Apollo's move 1.6 percentage points worse than the sector median. Over the last five sessions the stock rose 2.7%, while the S&P 500 over five sessions fell 0.6%. The session move equaled 1.2 times a typical daily move for this stock, and the company has a beta of 1.77, indicating the stock tends to move more than the market.

Each bar is one day's price change; the outlined bar is October 30, 2026. A typical daily move over the past year was 2.3%, so the latest move equals 1.0 times that. Moves outside the dashed lines (about 4.5%) are unusual.

The technical picture

Technically, the stock was 1.2% above its 20-day moving average, 5.2% below its 50-day moving average and 6.1% below its 200-day moving average. The 50-day average is below the 200-day average, a sign of a weak longer-term trend. The Relative Strength Index (14 days) stood at 48, in a neutral range between 30 and 70. The stock was 24.4% below its 52-week high. Over one month the stock rose 1.3%, over three months it fell 10.5% and over one year it fell 7.2%, trailing the S&P 500 by 17.2 percentage points over the same one-year period. Volatility was 31% annualized over 60 days, lower than 69% of its own readings over five years.

Closing price over the past year. APO ends the period 24.1% below its 52-week high, below its 50-day average ($122.25) and below its 200-day average ($123.41).

Fundamentals and valuation

For the four quarters through June 30, 2026, Apollo reported revenue of $35.95 billion, which grew 41.4% from a year earlier. Diluted earnings per share were $4.47, while earnings per share fell 16.4% from a year earlier. Gross margin narrowed to 84.5% from 95.1% a year earlier, and operating margin was 24.1% versus 28.2% a year earlier. Free-cash-flow margin stood at 22.2%. Return on invested capital was 1.0% and the balance sheet showed net cash of $13.09 billion. Share count over one year increased by 3.3%.

Quarterly revenue by period end. The latest quarter brought $11.2B, 64.5% more than the same quarter a year earlier.

Valuation metrics place the stock at 25.9 times trailing earnings and 13.4 times expected forward earnings, with a free-cash-flow yield of 12.0%. The price to trailing earnings is higher than 76% of its own readings over the past five years; the five-year median is 17.1 times earnings. That combination—strong recent revenue growth alongside an elevated multiple and a weak longer-term price trend—suggests investors are paying a premium for growth and quality despite mixed momentum and stability scores.

PromtFinance ranks the company high on Growth (94) and Quality (91), Positive on Value (72) and Revisions (71), and weak on Momentum (17) and Stability (23) within the sector. Those scores mirror the accounts on the income statement and price action: strong top-line performance and cash generation, but a price trend that has lagged and lower consistency in short-term momentum.

Earnings and analyst expectations

Apollo last reported on August 4, 2026, when earnings per share were $2.11 against $2.16 expected, 2.3% below estimates. The next report is scheduled for November 3, 2026. The stock has recorded zero consecutive quarters beating estimates, though the average surprise over the last four reports was 8.5% above estimates. Typical two-day reactions after recent reports have seen the stock rose 1.7%.

Diluted earnings per share by quarter. The latest quarter shows $2.15, against $0.99 in the same quarter a year earlier.

Analysts covering the stock number 28; the consensus rating is Buy, with 82% of analysts at Buy or Strong Buy. The consensus price target is $136.00, 17.4% above the closing price of $115.84.

What to watch

November 3, 2026: next scheduled earnings report
The European Credit Company debut with €10 billion of lending capacity, backed by long-term investors led by Apollo alongside ADIC, Athora, Norinchukin, Standard Chartered and Aranda Principal Strategies (GlobeNewsWire)
August 4, 2026: last earnings per share $2.11, 2.3% below estimates
Share count increased by 3.3% over one year
Net cash of $13.09 billion

Full APO analysis: scores, chart and financials →