Apollo Commercial Real Estate Finance, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $126.7M | $-119.6M | $58.1M | $265.2M | $223.5M | $18.4M | $230.2M | $220.0M |
| Depreciation & Amortization | $11.2M | $11.7M | $8.2M | $704.0K | $2.6M | $0 | $0 | — |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $13.6M | $16.5M | $17.4M | $18.3M | $17.6M | $16.8M | $15.9M | $8.8M |
| Net Cash from Operating Activities | $142.5M | $200.3M | $273.9M | $267.7M | $199.4M | $164.1M | $273.4M | $266.0M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-1.39B | $577.2M | $68.4M | $-1.34B | $-1.36B | $-215.7M | $-1.44B | $-998.9M |
| Financing Activities | ||||||||
| Dividends Paid | $141.3M | $185.9M | $202.0M | $200.6M | $199.6M | $237.8M | $269.2M | $227.2M |
| Stock Repurchases | $0 | $40.8M | $0 | $0 | $0 | $128.0M | $0 | $0 |
| Net Cash from Financing Activities | $1.06B | $-689.3M | $-343.4M | $958.0M | $1.18B | $-75.1M | $1.50B | $765.1M |
| Net Change in Cash | — | — | — | $-119.4M | $17.6M | $-126.8M | $342.5M | $32.1M |
| Free Cash Flow | — | — | — | — | — | — | — | — |