Filing Flows › Apollo Commercial Real Estate Finance (ARI) › Operating margin
Apollo Commercial Real Estate Finance (ARI) operating margin by quarter
Apollo Commercial Real Estate Finance's operating margin was 58.1% in Q2 2026 (second quarter 2026), +13.0 pts from Q1 2026. Over the last 7 quarters it ranged from 29.4% (Q2 2025) to 82.8% (Q3 2025).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q2 2026 | 58.1% | +13.0 pts | +28.7 pts |
| Q1 2026 | 45.1% | +5.4 pts | +5.5 pts |
| Q4 2025 | 39.7% | -43.1 pts | -18.2 pts |
| Q3 2025 | 82.8% | +53.4 pts | — |
| Q2 2025 | 29.4% | -10.3 pts | — |
| Q1 2025 | 39.7% | -18.2 pts | — |
| Q4 2024 | 57.9% | — | — |
Q2 2026 at a glance
Apollo Commercial Real Estate Finance, Q2 2026: revenue $44.4M (-37% year over year), operating margin 58.1%, net earnings $25.8M, operating cash flow $33.9M. The chart follows the revenue to costs, profit and cash.
Questions
What is Apollo Commercial Real Estate Finance's operating margin?
Apollo Commercial Real Estate Finance's operating margin was 58.1% in Q2 2026 (second quarter 2026), +13.0 pts from Q1 2026.
How has Apollo Commercial Real Estate Finance's operating margin changed?
Over the last 7 quarters it ranged from 29.4% (Q2 2025) to 82.8% (Q3 2025).
Q2 2026 results → · How Apollo Commercial Real Estate Finance makes money →