Apollo Commercial Real Estate Finance, Inc. (ARI)

ARI Ratios and Metrics

Market cap in millions USD. Fiscal year is January - December.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 6, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Market Cap	1,464	1,345	1,197	1,660	1,513	1,841
Market Cap Growth	5.03%	12.40%	-27.90%	9.70%	-17.83%	18.32%
Enterprise Value	9,269	2,995	2,772	3,076	3,161	3,673
Last Close Price	10.49	9.68	8.66	11.74	10.76	13.16
PE Ratio	13.02	11.95	-8.93	40.48	6.40	9.01
Forward PE	10.18	9.20	9.97	9.84	7.17	9.53
PS Ratio	5.46	5.01	8.09	5.82	4.71	5.77
PB Ratio	0.79	0.72	0.64	0.75	0.64	0.80
P/TBV Ratio	0.79	0.72	0.65	0.75	0.76	0.97
P/FCF Ratio	-	31.79	38.91	8.25	6.45	9.24
P/OCF Ratio	10.27	9.44	5.98	6.06	5.65	9.23
EV/Sales Ratio	34.54	11.16	18.74	10.79	9.84	11.51
EV/EBITDA Ratio	-	-636.05	-3139.17	-463.60	-82.69	-69.04
EV/FCF Ratio	-	70.77	90.14	15.29	13.47	18.44
Debt / Equity Ratio	0.89	0.89	0.84	0.64	0.70	0.80
Debt / EBITDA Ratio	-350.35	-350.35	-1783.95	-213.47	-43.12	-34.44
Debt / FCF Ratio	38.98	38.98	51.23	7.04	7.02	9.20
Net Debt / Equity Ratio	0.89	0.89	0.84	0.64	0.70	0.80
Net Debt / EBITDA Ratio	-350.35	-350.35	-1783.95	-213.47	-43.12	-34.44
Net Debt / FCF Ratio	38.98	38.98	51.23	7.04	7.02	9.20
Asset Turnover	0.03	0.03	0.02	0.03	0.04	0.04
Return on Equity (ROE)	6.79%	6.79%	-5.86%	2.55%	11.41%	9.79%
Earnings Yield	7.64%	8.37%	-11.20%	2.47%	15.61%	11.09%
FCF Yield	-	3.15%	2.57%	12.13%	15.51%	10.82%
Dividend Yield	9.53%	10.51%	15.37%	12.18%	13.26%	10.85%
Payout Ratio	124.09%	123.44%	-140.97%	440.56%	79.29%	94.82%
Buyback Yield / Dilution	0.37%	0.37%	4.04%	0.41%	0.46%	0.23%
Total Shareholder Return	9.91%	10.88%	19.41%	12.59%	13.73%	11.08%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q