Apollo Commercial Real Estate Finance (ARI) Q4 2025 Earnings
Reported Feb 10, 2026 at 9:07 PM ET · SEC Source
Q4 25 EPS
$0.26
BEAT +7.71%
Est. $0.24
Q4 25 Revenue
$73.3M
BEAT +58.47%
Est. $46.2M
vs S&P Since Q4 25
-11.0%
TRAILING MARKET
ARI -2.3% vs S&P +8.6%
Full Year 2025 Results
FY 25 EPS
$1.05
FY 25 Revenue
$271.6M
Market Reaction
Did ARI Beat Earnings? Q4 2025 Results
Apollo Commercial Real Estate Finance delivered a clear beat to close out 2025, posting distributable earnings of $0.26 per diluted share against a consensus estimate of $0.24, a 7.71% positive surprise, while revenue of $73.25 million ran 58.47% ahe… Read more Apollo Commercial Real Estate Finance delivered a clear beat to close out 2025, posting distributable earnings of $0.26 per diluted share against a consensus estimate of $0.24, a 7.71% positive surprise, while revenue of $73.25 million ran 58.47% ahead of the $46.23 million Wall Street had penciled in and edged 2.1% higher year over year. The quarter's performance was underpinned by strong loan origination activity, with ARI committing $1.30 billion to new first mortgage loans in Q4 alone at weighted-average yields of 7.6% to 7.9%, helping the overall portfolio reach $8.80 billion across 56 loans. Distributable earnings comfortably covered the $0.25 quarterly dividend, a point of particular relevance given ongoing analyst scrutiny of dividend sustainability. Looking ahead, the company's strategic posture shifted materially with the announcement of a definitive agreement to sell its entire loan portfolio to Athene Holding Ltd. At 99.7% of total loan commitments, a transaction that reshapes ARI's investment narrative considerably as the company carries no corporate debt maturities until June 2029.
Key Takeaways
- • Net interest income of $44.1 million in Q4 driven by $159.5 million interest income from commercial mortgage loans
- • $1.3 billion in new loan commitments in Q4, $4.4 billion for full year 2025
- • Loan repayments and sales of $852 million in Q4, $2.9 billion for full year
- • 99% first mortgage portfolio with 7.3% weighted-average unlevered all-in yield
- • 96% floating rate loans providing interest rate sensitivity
- • Foreign currency translation gains of $99.5 million for full year 2025 vs losses of $37.5 million in 2024
- • Brooklyn multifamily REO with 56% of market units leased
ARI YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
ARI Revenue by Segment
With YoY comparisons, source: SEC Filings
ARI Revenue by Geography
With YoY comparisons, source: SEC Filings
ARI Earnings Trends
ARI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ARI EPS Trend
Earnings per share: estimate vs actual
ARI Revenue Trend
Quarterly revenue: estimate vs actual
ARI Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.29 | $0.22 | -24.37% | $58.6M | +28.87% |
| Q4 25 BEAT FY | $0.24 | $0.26 | +7.71% | $73.3M | +58.47% |
| FY Full Year | — | $1.05 | — | $271.6M | — |
| Q3 25 BEAT | $0.25 | $0.30 | +20.77% | $61.6M | +29.09% |
| Q2 25 BEAT | $0.25 | $0.26 | +3.83% | $70.9M | +46.49% |