Apollo Commercial Real Estate Finance, Inc. (ARI) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Revenue | 172.56M | 182.72M | 167.14M | 186.76M | 173.86M | 195.51M | 76.78M | 214.92M | 214.32M | 215.17M | 214.22M | 133.83M | 213.78M | 171.71M | 213M | 142.71M | 113.92M | 110.98M | 109.61M | 94.52M |
| Revenue Growth % | -0.75% | -6.54% | 117.68% | -13.1% | -18.88% | -9.14% | -64.16% | 60.59% | 0.25% | 25.31% | 0.57% | -6.22% | 87.66% | 54.72% | 94.33% | 50.97% | 7% | 54.09% | 6.54% | -3.41% |
| Property Operating Expenses | 132.14M | 39.3M | 33.65M | 34.53M | 34.24M | 33.63M | 33.36M | 35.51M | 38.63M | 31.48M | 30.51M | 33.76M | 31.5M | 25.99M | 23.03M | 22.77M | 20.41M | 22.98M | 18.69M | 12.34M |
| Net Operating Income (NOI) | 40.42M | 143.43M | 133.49M | 152.23M | 139.62M | 161.88M | 43.42M | 179.4M | 175.69M | 183.69M | 183.71M | 100.08M | 182.29M | 145.72M | 189.98M | 119.94M | 93.5M | 88M | 90.92M | 82.19M |
| NOI Margin % | 23.42% | 78.49% | 79.87% | 81.51% | 80.3% | 82.8% | 56.55% | 83.48% | 81.98% | 85.37% | 85.76% | 74.78% | 85.27% | 84.87% | 89.19% | 84.05% | 82.08% | 79.29% | 82.95% | 86.95% |
| Operating Expenses | 18.05M | 2.44M | -29.15M | 80.9M | 50.21M | -67.33M | 62.49M | 15.01M | 132.54M | 70.17M | -27.36M | 91.35M | 48.08M | 149.01M | -157.85M | -92.31M | 631K | 2.33M | -32.6M | -21.17M |
| G&A Expenses | 14.07M | 16.15M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBITDA | 26.35M | 144.39M | 165.43M | 73.86M | 91.87M | 231.59M | -16.73M | 166.69M | 47.8M | 114.57M | 212.09M | 10.93M | 138.19M | 92.59M | 255.33M | 127.48M | 93.58M | 86.77M | 124.62M | 103.81M |
| EBITDA Margin % | 15.27% | 79.02% | 98.97% | 39.55% | 52.84% | 118.45% | -21.79% | 77.56% | 22.31% | 53.25% | 99.01% | 8.17% | 64.64% | 53.92% | 119.87% | 89.33% | 82.14% | 78.18% | 113.69% | 109.82% |
| Depreciation & Amortization | 3.98M | 3.4M | 2.78M | 2.53M | 2.46M | 2.38M | 2.34M | 2.29M | 4.66M | 1.04M | 1.02M | 2.2M | 3.99M | 0 | 0 | 0 | 704K | 1.1M | 1.1M | 452K |
| D&A / Revenue % | 2.31% | 1.86% | 1.67% | 1.36% | 1.41% | 1.22% | 3.05% | 1.06% | 2.17% | 0.48% | 0.48% | 1.65% | 1.86% | 0% | 0% | 0% | 0.62% | 0.99% | 1% | 0.48% |
| Operating Income | 22.36M | 140.99M | 162.64M | 71.33M | 89.41M | 229.21M | -19.07M | 164.4M | 43.15M | 113.53M | 211.07M | 8.73M | 134.21M | -3.29M | 347.83M | 212.25M | 92.87M | 85.67M | 123.52M | 103.36M |
| Operating Margin % | 12.96% | 77.16% | 97.31% | 38.19% | 51.43% | 117.23% | -24.84% | 76.49% | 20.13% | 52.76% | 98.53% | 6.52% | 62.78% | -1.92% | 163.3% | 148.73% | 81.53% | 77.19% | 112.69% | 109.35% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | 0.20x | 1.25x | 1.44x | 1.17x | 1.25x | 1.36x | 0.32x | 1.28x | 0.18x | 1.38x | 1.38x | 0.28x | 1.47x | 0.96x | 3.53x | 2.26x | 1.34x | 1.83x | 2.42x | 2.70x |
| Non-Operating Income | 0 | -3.56M | -3.75M | -73.7M | -41.75M | 74.94M | -61.67M | 42K | 19.67M | -56.08M | 42.67M | -24.15M | -19.58M | -95.88M | 92.5M | 84.77M | 32.52M | 3.84M | 20.74M | -4.07M |
| Pretax Income | 26.46M | 29.06M | 51.02M | 20.86M | 26.11M | 40.77M | -91.48M | 35.88M | -104.41M | 46.47M | 46.59M | -83.4M | 48.92M | -3.99M | 183.03M | 70.95M | 15.24M | 37.1M | 60.39M | 67.69M |
| Pretax Margin % | 15.33% | 15.91% | 30.53% | 11.17% | 15.02% | 20.85% | -119.14% | 16.7% | -48.72% | 21.59% | 21.75% | -62.32% | 22.88% | -2.32% | 85.93% | 49.72% | 13.38% | 33.43% | 55.1% | 71.61% |
| Income Tax | 230K | -135K | 234K | 116K | 116K | 114K | 66K | 100K | 114K | -75K | 517K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0.87% | -0.46% | 0.46% | 0.56% | 0.44% | 0.28% | -0.07% | 0.28% | -0.11% | -0.16% | 1.11% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | 26.23M | 29.2M | 50.79M | 20.74M | 25.99M | 40.65M | -91.55M | 35.78M | -104.52M | 46.54M | 46.07M | -83.4M | 48.92M | -3.99M | 183.03M | 70.95M | 15.24M | 37.1M | 60.39M | 67.69M |
| Net Margin % | 15.2% | 15.98% | 30.39% | 11.1% | 14.95% | 20.79% | -119.23% | 16.65% | -48.77% | 21.63% | 21.51% | -62.32% | 22.88% | -2.32% | 85.93% | 49.72% | 13.38% | 33.43% | 55.1% | 71.61% |
| Net Income Growth % | 0.91% | -28.17% | 155.48% | -42.05% | 124.87% | -12.65% | -298.71% | 142.91% | -313.68% | 1267.29% | -74.83% | -217.55% | 221.01% | -110.75% | 203.07% | 4.82% | -73.88% | 1.14% | 22.4% | 12.44% |
| Funds From Operations (FFO) | 30.21M | 32.6M | 53.57M | 23.27M | 28.45M | 43.03M | -89.21M | 38.07M | -99.87M | 47.58M | 47.09M | -81.2M | 52.9M | -28.13M | 183.03M | 70.95M | 15.94M | 38.19M | 61.49M | 68.14M |
| FFO Margin % | 17.51% | 17.84% | 32.05% | 12.46% | 16.36% | 22.01% | -116.18% | 17.71% | -46.6% | 22.11% | 21.98% | -60.67% | 24.75% | -16.38% | 85.93% | 49.72% | 13.99% | 34.41% | 56.1% | 72.09% |
| FFO Growth % | 6.19% | -24.24% | 160.06% | -38.88% | 128.48% | -9.55% | -289.44% | 146.89% | -288.78% | 269.12% | - | - | 231.84% | -173.66% | - | - | - | 412.99% | - | - |
| FFO per Share | 0.22 | 0.23 | 0.38 | 0.17 | 0.20 | 0.31 | -0.65 | 0.27 | -0.70 | 0.34 | 0.33 | -0.57 | 0.34 | -0.20 | 1.11 | 0.41 | 0.11 | 0.27 | 0.36 | 0.40 |
| FFO Payout Ratio % | 0% | 109.95% | 64.84% | 151.6% | 124.5% | 81.69% | -55.3% | 132.96% | -50.91% | 106.06% | 107.17% | -62.13% | 95.73% | -178.1% | 27.38% | 70.6% | 315.33% | 130.48% | 81.43% | 78.04% |
| EPS (Diluted) | 0.16 | 0.18 | 0.34 | 0.12 | 0.16 | 0.27 | -0.69 | 0.23 | -0.76 | 0.30 | 0.30 | -0.62 | 0.32 | -0.06 | 1.13 | 0.44 | 0.08 | 0.23 | 0.38 | 0.42 |
| EPS Growth % | 0% | -33.33% | 149.28% | -47.83% | 121.05% | -10% | -330% | 137.1% | -337.5% | 596.69% | -73.45% | -240.91% | 298.51% | -126.26% | 197.37% | 4.76% | -78.3% | 0% | 22.58% | 16.67% |
| EPS (Basic) | 0.16 | 0.18 | 0.34 | 0.12 | 0.16 | 0.27 | -0.69 | 0.23 | -0.76 | 0.30 | 0.30 | -0.62 | 0.32 | -0.06 | 1.27 | 0.48 | 0.08 | 0.23 | 0.40 | 0.45 |
| Diluted Shares Outstanding | 139.71M | 138.94M | 139.67M | 139.21M | 138.99M | 138.17M | 138.25M | 140.61M | 141.87M | 141.28M | 141.35M | 141.34M | 155.48M | 140.6M | 164.35M | 171.7M | 140.35M | 139.89M | 170.88M | 170.83M |