Apollo Global Management trades at P/E of 63.9x amid AI infrastructure partnership, down 12.67% year-to-date despite strong long-term returns

Apollo Global Management's share price stands at US$128.03, with a year-to-date return of down 12.67%, while its 3 year total shareholder return is 83.95% and 5 year total shareholder return is 145.14%.

The company trades at a P/E ratio of 63.9x, well above its estimated fair P/E of 24.7x and more than double the US diversified financial industry average of 16.4x, though forecasts project earnings growth of around 30.3% per year.

Apollo has undertaken a high-profile AI compute buildout partnership alongside Broadcom, while managing asset classes including credit, private equity, infrastructure, and retirement services.