Apollo Commercial Real Estate Finance
S&P 600
Balance Sheet
Assets vs Liabilities
Figures in US$Total AssetsTotal Liabilities
How to read this: total assets are everything the company owns; total liabilities are everything it owes. The gap between the two bars is the shareholders' stake (net worth). Assets growing faster than liabilities over time generally means the net worth is building up.
Cash vs Long-term Debt
Figures in US$Cash & EquivalentsLong-term Debt
How to read this: the bars compare the cash the company holds against its long-term debt. When the cash bar is taller than the debt bar, the company could in principle cover its long-term borrowings with cash on hand; when debt towers over cash, it relies more on borrowed money. Watching the two over time shows whether the balance is improving.
| Period | Total Assets | Total Liabilities | Stockholders Equity | Retained Earnings | Cash & Equivalents |
|---|---|---|---|---|---|
| FY2014 | $1.85B | $990.08M | $855.07M | $-10.49M | $40.64M |
| FY2015 | $2.71B | $1.34B | $1.38B | $-32.33M | $67.42M |
| FY2016 | $3.48B | $1.55B | $1.93B | $-48.07M | $201.00M |
| FY2017 | $4.09B | $2.00B | $2.09B | $-83.14M | $77.67M |
| FY2018 | $5.10B | $2.59B | $2.51B | $-130.17M | $109.81M |
| FY2019 | $6.89B | $4.26B | $2.63B | $-196.95M | $452.28M |
| FY2020 | $6.94B | $4.67B | $2.27B | $-438.72M | $325.50M |
| FY2021 | $8.42B | $6.12B | $2.29B | $-427.88M | $343.11M |
| FY2022 | $9.57B | $7.21B | $2.35B | $-363.88M | $222.03M |
| FY2023 | $9.30B | $7.09B | $2.21B | $-520.24M | $225.44M |
| FY2024 | $8.41B | $6.54B | $1.87B | $-822.67M | $317.40M |
| FY2025 | $9.90B | $8.04B | $1.86B | $-849.68M | $139.83M |
Figures in USD. Educational data only.
Understanding these terms
Plain-English explanations of each figure in the table above, and what a beginner typically looks at. These are educational descriptions only, not advice.
- Total Assets
- Everything the company owns — fixed assets, investments, cash, inventory, and receivables combined.How a beginner reads it: A beginner reads total assets to gauge the size of the business and, alongside profit, how efficiently those assets generate earnings.
- Total Liabilities
- Everything the company owes — borrowings plus all other obligations combined.How a beginner reads it: A beginner reads total liabilities against total assets to see how much of the company is financed by what it owes versus what shareholders own.
- Stockholders Equity
- The shareholders' total stake in the company — assets minus liabilities. Includes paid-in capital plus accumulated retained earnings.How a beginner reads it: A beginner views this as the company's net worth on the books. Steady growth in equity over years usually reflects retained profits building up.
- Retained Earnings
- The cumulative profit a company has kept rather than paid as dividends, reinvested back into the business. The US counterpart of accumulated "Reserves".How a beginner reads it: A beginner reads rising retained earnings as profits compounding inside the company. A long history of growth here often reflects a consistently profitable business.
- Cash & Equivalents
- Cash on hand plus highly liquid holdings that can be converted to cash almost immediately.How a beginner reads it: A beginner views cash as a cushion and a source of flexibility. Comparing cash to borrowings gives a quick sense of net debt — how much debt remains after cash is netted off.