# Apollo Commercial Real Estate Finance, Inc.: overview

ARI · NYSE · CIK 1467760 · [Real estate](/sectors/real-estate.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/ari.md) · [Financials](/companies/ari/financials.md) · [Filings](/companies/ari/filings.md) · [Insiders](/companies/ari/insiders.md)

Latest reported revenue: [$44.4m](/filings/0001193125-26-342628.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 10, 2026 (XBRL us-gaap:Revenues, accession 0001193125-26-342628).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [71.6](/filings/0001193125-25-258572.md) | [70.5 d](/filings/0001193125-26-044725.md) | [65.8](/filings/0001193125-26-187094.md) | [70.9](/filings/0001193125-26-342628.md) | [61.6](/filings/0001193125-25-258572.md) | [73.3 d](/filings/0001193125-26-044725.md) | [58.6](/filings/0001193125-26-187094.md) | [44.4](/filings/0001193125-26-342628.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [(127.9%)](/filings/0001193125-25-258572.md) | [57.7% d](/filings/0001193125-26-044725.md) | [39.5%](/filings/0001193125-26-342628.md) | [29.3%](/filings/0001193125-26-342628.md) | [82.4%](/filings/0001193125-25-258572.md) | [39.9% d](/filings/0001193125-26-044725.md) | [44.7%](/filings/0001193125-26-342628.md) | [58.1%](/filings/0001193125-26-342628.md) |
| Diluted EPS | $ per share | [(0.69)](/filings/0001193125-25-258572.md) | not reported | [0.16](/filings/0001193125-26-187094.md) | [0.12](/filings/0001193125-26-342628.md) | [0.34](/filings/0001193125-25-258572.md) | not reported | [0.16](/filings/0001193125-26-187094.md) | [0.11](/filings/0001193125-26-342628.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [285](/filings/0001467760-24-000010.md) | [304](/filings/0000950170-25-017122.md) | [345](/filings/0001193125-26-044725.md) | [304](/filings/0001193125-26-044725.md) | [272](/filings/0001193125-26-044725.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [78.6%](/filings/0001467760-24-000010.md) | [87.4%](/filings/0000950170-25-017122.md) | [16.9%](/filings/0001193125-26-044725.md) | [(39.4%)](/filings/0001193125-26-044725.md) | [46.7%](/filings/0001193125-26-044725.md) |
| Diluted EPS | $ per share | [1.46](/filings/0001467760-24-000010.md) | [1.68](/filings/0000950170-25-017122.md) | [0.29](/filings/0001193125-26-044725.md) | [(0.97)](/filings/0001193125-26-044725.md) | [0.81](/filings/0001193125-26-044725.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/ari/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $127.4m | 11,929,835 |  | Reduced −9,254,061 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $65.0m | 6,088,701 |  | Reduced −1,847,716 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $64.4m | 6,025,495 |  | Reduced −379,448 |
| [MILLENNIUM MANAGEMENT LLC](/funds/1273087.md) | 2026-06-30 | $48.7m | 4,563,909 |  | Added +3,277,403 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $36.1m | 3,383,089 |  | Added +58,437 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $35.6m | 3,331,999 |  | Reduced −1,934,220 |
| [MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.](/funds/1705339.md) | 2026-06-30 | $30.3m | 2,834,255 |  | Added +89,349 |
| [No Street GP LP](/funds/1765774.md) | 2026-06-30 | $26.1m | 2,440,900 |  | Reduced −909,100 |
| [CHARLES SCHWAB INVESTMENT MANAGEMENT INC](/funds/884546.md) | 2026-06-30 | $21.7m | 2,035,950 |  | Reduced −122,028 |
| [Schonfeld Strategic Advisors LLC](/funds/1665241.md) | 2026-06-30 | $20.5m | 1,917,086 |  | New +1,917,086 |

## Recent filings

[All 865 filings](/companies/ari/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-16 | 17:09 ET | [8-K](/filings/0001193125-26-424253.md) | 3.01 Delisting notice; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001193125-26-424253 |
| 2026-09-29 | 17:26 ET | [8-K](/filings/0001193125-26-407837.md) | 1.01 Entry into a material agreement; 5.07 Shareholder vote results | 0001193125-26-407837 |
| 2026-09-16 | 17:25 ET | [8-K](/filings/0001193125-26-393256.md) | 8.01 Other events | 0001193125-26-393256 |
| 2026-08-11 | 20:56 ET | [8-K](/filings/0001193125-26-343027.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001193125-26-343027 |
| 2026-08-10 | 17:01 ET | [10-Q](/filings/0001193125-26-342628.md) | Quarterly report, period 2026-06-30 | 0001193125-26-342628 |
| 2026-07-13 | 17:54 ET | [8-K](/filings/0001193125-26-301072.md) | 5.07 Shareholder vote results | 0001193125-26-301072 |
| 2026-06-16 | 20:59 ET | [8-K](/filings/0001193125-26-271542.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001193125-26-271542 |
| 2026-05-29 | 16:18 ET | [DEF 14A](/filings/0001193125-26-248362.md) | Proxy statement, period 2026-07-09 | 0001193125-26-248362 |
| 2026-05-15 | 17:26 ET | [8-K](/filings/0001193125-26-227261.md) | 5.02 Departure or appointment of officers or directors | 0001193125-26-227261 |
| 2026-04-30 | 16:57 ET | [10-K/A](/filings/0001193125-26-197735.md) | Annual report, amended, period 2025-12-31 | 0001193125-26-197735 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001193125-26-044725.md), filed Feb 10, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/00024a5c-2d1b-4c86-8a24-ba771d09540f)

## About the filer

- CIK: 1467760
- Tickers: ARI
- Exchange: NYSE
- SIC code: 6798 Real Estate Investment Trusts
- State of incorporation: MD
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 27, 2026, 16:31 ET. No prices; not investment advice.