Revenue: As of FY2025, the actual value is USD 271.59 M.EPS: As of FY2025, the actual value is USD 0.81, beating the estimate of USD 0.7407.EBIT: As of FY2025, the actual value is USD -53.06 M.Apollo Commercial Real Estate Finance, Inc. operates in one reporting segment and reported the following key financial and operational metrics:<h4>Operational Metrics</h4><ul><li>Net Income (Loss) Available to Common Stockholders:<ul><li>For the year ended December 31, 2025: $114.4 million.</li><li>For the year ended December 31, 2024: - $131.9 million.</li></ul></li><li>Net Interest Income:<ul><li>For the year ended December 31, 2025: $166.7 million.</li><li>For the year ended December 31, 2024: $199.0 million. This represents a decrease of $32.3 million, primarily due to lower average index rates, a loss on investment in Q3 2024, and the modification of two commercial mortgage loans from floating to fixed rates in Q2 2024.</li></ul></li><li>Revenue from Real Estate Owned Operations:<ul><li>For the year ended December 31, 2025: $104.9 million.</li><li>For the year ended December 31, 2024: $104.7 million.</li></ul></li><li>Operating Expenses Related to Real Estate Owned:<ul><li>For the year ended December 31, 2025: - $85.2 million.</li><li>For the year ended December 31, 2024: - $81.7 million.</li></ul></li><li>Depreciation and Amortization on Real Estate Owned:<ul><li>For the year ended December 31, 2025: - $11.2 million.</li><li>For the year ended December 31, 2024: - $11.7 million.</li></ul></li><li>General and Administrative Expenses:<ul><li>For the year ended December 31, 2025: - $27.4 million.</li><li>For the year ended December 31, 2024: - $29.6 million. This represents a decrease of $2.2 million, mainly due to a decrease in amortization of Restricted Stock Units (RSUs).</li></ul></li><li>Management Fees to Related Party:<ul><li>For the year ended December 31, 2025: - $34.2 million.</li><li>For the year ended December 31, 2024: - $36.1 million. This represents a decrease of $2.0 million, primarily due to a decrease in Stockholders’ Equity.</li></ul></li><li>Other Income, Net:<ul><li>For the year ended December 31, 2025: $7.9 million.</li><li>For the year ended December 31, 2024: $4.5 million.</li></ul></li><li>Income from Equity Method Investment:<ul><li>For the year ended December 31, 2025: $15.4 million, including a $17.4 million net gain from a litigation settlement related to the Massachusetts Healthcare JV.</li><li>For the year ended December 31, 2024: $0.</li></ul></li><li>Net Realized Loss on Investments:<ul><li>For the year ended December 31, 2025: - $7.4 million, consisting of a - $1.2 million loss on a promissory note sale and a - $6.2 million loss on the Michigan Office Loan payoff.</li><li>For the year ended December 31, 2024: - $128.2 million, primarily from the extinguishment of the Massachusetts Healthcare Loan (- $127.5 million) and the sale of a commercial mortgage loan (- $0.7 million).</li></ul></li><li>Decrease (Increase) in Specific CECL Allowance, Net:<ul><li>For the year ended December 31, 2025: $4.5 million decrease.</li><li>For the year ended December 31, 2024: - $149.5 million increase.</li></ul></li><li>Increase in General CECL Allowance, Net:<ul><li>For the year ended December 31, 2025: - $7.7 million.</li><li>For the year ended December 31, 2024: - $6.3 million.</li></ul></li><li>Gain (Loss) on Foreign Currency Forward Contracts:<ul><li>For the year ended December 31, 2025: - $98.7 million.</li><li>For the year ended December 31, 2024: $52.6 million.</li></ul></li><li>Foreign Currency Translation Gain (Loss):<ul><li>For the year ended December 31, 2025: $99.5 million.</li><li>For the year ended December 31, 2024: - $37.5 million.</li></ul></li><li>Gain on Interest Rate Hedging Instruments:<ul><li>For the year ended December 31, 2025: $23 thousand.</li><li>For the year ended December 31, 2024: $570 thousand.</li></ul></li><li>Net Income (Loss) Before Taxes:<ul><li>For the year ended December 31, 2025: $127.1 million.</li><li>For the year ended December 31, 2024: - $119.2 million.</li></ul></li><li>Income Tax Provision:<ul><li>For the year ended December 31, 2025: - $331 thousand.</li><li>For the year ended December 31, 2024: - $394 thousand.</li></ul></li><li>Net Income (Loss):<ul><li>For the year ended December 31, 2025: $126.7 million.</li><li>For the year ended December 31, 2024: - $119.6 million.</li></ul></li></ul><h4>Non-GAAP Financial Measures</h4><ul><li>Distributable Earnings:<ul><li>For the year ended December 31, 2025: $148.7 million, or $1.05 per share.</li><li>For the year ended December 31, 2024: $61.3 million, or $0.43 per share.</li></ul></li><li>Book Value Per Share:<ul><li>As of December 31, 2025: $12.14.</li><li>As of December 31, 2024: $12.34.</li></ul></li></ul><h4>Loan Portfolio Overview (as of December 31, 2025)</h4><ul><li>Total Loans, Net (Carrying Value): $8.77 billion, consisting of $8.71 billion in commercial mortgage loans and $62.2 million in subordinate loans.</li><li>Weighted-Average Risk Rating of Loan Portfolio: 3.0.</li><li>Weighted-Average Coupon: 6.5%.</li><li>Weighted-Average All-in Yield: 7.3%.</li><li>Secured Debt Arrangements: $6.28 billion.</li><li>Cost of Funds: 5.5%.</li><li>Equity at Cost: $2.50 billion.</li><li>Loan Originations and Repayments (Year Ended December 31, 2025):<ul><li>Committed capital to new loans: $4.4 billion ($3.3 billion funded at closing).</li><li>Add-on fundings: $899.4 million.</li><li>Repayments and sales of loans: $2.9 billion.</li></ul></li><li>Unfunded Loan Commitments: $1.0 billion, with $590.9 million expected to be funded in the short term.</li><li>Debt-to-Equity Ratio: 4.1.</li></ul><h4>Outlook / Guidance</h4>Apollo Commercial Real Estate Finance, Inc. entered into an agreement on January 27, 2026, to sell its entire commercial real estate loan portfolio, excluding two loans totaling $146 million expected to be repaid prior to closing. This potential sale is expected to significantly change the company’s strategy and operations, though it intends to continue to qualify as a REIT and maintain compliance with REIT asset tests after the transaction and any new asset strategy.

Apollo Commercial Real | 10-K: FY2025 Revenue: USD 271.59 M