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Apollo Investment

Nasdaq:AINV
Snowflake Description

Undervalued with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AINV
Nasdaq
$399M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Apollo Investment Corporation is business development company specializing in middle market companies. The last earnings update was 63 days ago. More info.


Add to Portfolio Compare Print
  • Apollo Investment is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Apollo Investment has significant price volatility in the past 3 months.
AINV Share Price and Events
7 Day Returns
-11.3%
NasdaqGS:AINV
-1.6%
US Capital Markets
-3.8%
US Market
1 Year Returns
-60.6%
NasdaqGS:AINV
-14.5%
US Capital Markets
-15.9%
US Market
AINV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Apollo Investment (AINV) -11.3% -61% -65.8% -60.6% -70.1% -74.1%
US Capital Markets -1.6% -15.2% -25% -14.5% 0.9% 18.4%
US Market -3.8% -17.4% -24.1% -15.9% 2.8% 13.5%
1 Year Return vs Industry and Market
  • AINV underperformed the Capital Markets industry which returned -14.5% over the past year.
  • AINV underperformed the Market in United States of America which returned -15.9% over the past year.
Price Volatility
AINV
Industry
5yr Volatility vs Market

AINV Value

 Is Apollo Investment undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Apollo Investment to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Apollo Investment.

NasdaqGS:AINV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $17.71 * 5.1%
$0.91
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. $17.71
Discount Rate (Cost of Equity) See below 7.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:AINV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.74
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.744 (1 + (1- 21%) (447.97%))
1.123
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.123 * 5.44%)
7.85%

Discounted Cash Flow Calculation for NasdaqGS:AINV using Excess Returns Model Model

The calculations below outline how an intrinsic value for Apollo Investment is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:AINV Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (5.1% – 7.85%) * $17.71)
$-0.48
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.48 / (7.85% - 1.74%)
$-7.85
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $17.71 + $-7.85
$9.85
NasdaqGS:AINV Discount to Share Price
Calculation Result
Value per share (USD) From above. $9.85
Current discount Discount to share price of $5.99
= -1 x ($5.99 - $9.85) / $9.85
39.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Apollo Investment is available for.
Intrinsic value
39%
Share price is $5.99 vs Future cash flow value of $9.85
Current Discount Checks
For Apollo Investment to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Apollo Investment's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Apollo Investment's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Apollo Investment's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Apollo Investment's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:AINV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $0.93
NasdaqGS:AINV Share Price ** NasdaqGS (2020-04-06) in USD $5.99
United States of America Capital Markets Industry PE Ratio Median Figure of 92 Publicly-Listed Capital Markets Companies 33.66x
United States of America Market PE Ratio Median Figure of 2,947 Publicly-Listed Companies 12.21x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Apollo Investment.

NasdaqGS:AINV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:AINV Share Price ÷ EPS (both in USD)

= 5.99 ÷ 0.93

6.46x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Apollo Investment is good value based on earnings compared to the US Capital Markets industry average.
  • Apollo Investment is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Apollo Investment's expected growth come at a high price?
Raw Data
NasdaqGS:AINV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.46x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
45%per year
United States of America Capital Markets Industry PEG Ratio Median Figure of 36 Publicly-Listed Capital Markets Companies 2.03x
United States of America Market PEG Ratio Median Figure of 2,010 Publicly-Listed Companies 0.88x

*Line of best fit is calculated by linear regression .

NasdaqGS:AINV PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.46x ÷ 45%

0.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Apollo Investment is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Apollo Investment's assets?
Raw Data
NasdaqGS:AINV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $18.27
NasdaqGS:AINV Share Price * NasdaqGS (2020-04-06) in USD $5.99
United States of America Capital Markets Industry PB Ratio Median Figure of 183 Publicly-Listed Capital Markets Companies 7.87x
United States of America Market PB Ratio Median Figure of 5,148 Publicly-Listed Companies 1.2x
NasdaqGS:AINV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:AINV Share Price ÷ Book Value per Share (both in USD)

= 5.99 ÷ 18.27

0.33x

* Primary Listing of Apollo Investment.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Apollo Investment is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Apollo Investment's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Apollo Investment has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AINV Future Performance

 How is Apollo Investment expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
45%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Apollo Investment expected to grow at an attractive rate?
  • Apollo Investment's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Apollo Investment's earnings growth is expected to exceed the United States of America market average.
  • Apollo Investment's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:AINV Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:AINV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 45%
NasdaqGS:AINV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts -0.7%
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 5.3%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.4%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:AINV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:AINV Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 274 127 1
2021-03-31 271 52 121 8
2020-04-07
2020-03-31 276 -489 62 8
NasdaqGS:AINV Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 267 -597 63
2019-09-30 262 -433 62
2019-06-30 258 -40 83
2019-03-31 255 -133 72
2018-12-31 255 99 61
2018-09-30 256 92 68
2018-06-30 256 -8 71
2018-03-31 259 264 87
2017-12-31 264 298 74
2017-09-30 268 297 80
2017-06-30 270 341 89
2017-03-31 280 642 18

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Apollo Investment's earnings are expected to grow significantly at over 20% yearly.
  • Apollo Investment's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:AINV Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Apollo Investment Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:AINV Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31 1.92 1.98 1.86 2.00
2021-03-31 1.83 1.86 1.82 9.00
2020-04-07
2020-03-31 0.92 0.96 0.90 8.00
NasdaqGS:AINV Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 0.93
2019-09-30 0.89
2019-06-30 1.18
2019-03-31 1.02
2018-12-31 0.85
2018-09-30 0.94
2018-06-30 0.99
2018-03-31 1.19
2017-12-31 1.02
2017-09-30 1.09
2017-06-30 1.21
2017-03-31 0.25

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Apollo Investment is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Apollo Investment's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Apollo Investment has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AINV Past Performance

  How has Apollo Investment performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Apollo Investment's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Apollo Investment has delivered over 20% year on year earnings growth in the past 5 years.
  • Apollo Investment's 1-year earnings growth is less than its 5-year average (3.8% vs 21%)
  • Apollo Investment's earnings growth has not exceeded the US Capital Markets industry average in the past year (3.8% vs 9.7%).
Earnings and Revenue History
Apollo Investment's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Apollo Investment Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:AINV Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 266.73 63.03 57.62
2019-09-30 262.29 61.56 61.89
2019-06-30 258.00 82.53 65.01
2019-03-31 255.08 71.95 69.01
2018-12-31 255.16 60.73 72.76
2018-09-30 255.74 67.74 72.65
2018-06-30 256.17 71.50 72.15
2018-03-31 259.29 87.03 72.86
2017-12-31 264.09 74.45 70.82
2017-09-30 267.54 79.91 69.84
2017-06-30 270.10 89.24 66.42
2017-03-31 279.86 18.37 70.85
2016-12-31 298.90 -13.08 76.61
2016-09-30 325.15 -50.14 86.26
2016-06-30 354.55 -93.00 98.31
2016-03-31 379.75 -44.53 105.64
2015-12-31 396.53 -32.86 111.11
2015-09-30 412.23 -26.54 117.27
2015-06-30 432.72 17.18 124.45
2015-03-31 433.63 75.42 126.33
2014-12-31 427.92 157.06 126.29
2014-09-30 412.46 282.25 120.75
2014-06-30 387.25 316.70 113.13
2014-03-31 381.35 270.87 111.46
2013-12-31 369.56 266.79 109.73
2013-09-30 358.21 138.31 108.70
2013-06-30 348.33 134.92 108.87

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Apollo Investment has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Apollo Investment used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Apollo Investment's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Apollo Investment's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Apollo Investment has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AINV Health

 How is Apollo Investment's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Apollo Investment's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Apollo Investment is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Apollo Investment's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Apollo Investment's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Apollo Investment Company Filings, last reported 3 months ago.

NasdaqGS:AINV Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,215.88 1,785.64 42.23
2019-09-30 1,253.39 1,584.13 36.44
2019-06-30 1,290.71 1,349.60 30.57
2019-03-31 1,312.63 1,128.69 41.19
2018-12-31 1,316.61 994.49 29.94
2018-09-30 1,371.15 946.24 19.26
2018-06-30 1,391.17 1,102.68 12.67
2018-03-31 1,418.09 789.85 15.33
2017-12-31 1,441.05 875.17 14.10
2017-09-30 1,472.60 864.91 33.15
2017-06-30 1,477.62 920.67 32.69
2017-03-31 1,481.80 848.45 11.28
2016-12-31 1,506.70 1,033.96 51.84
2016-09-30 1,541.94 1,014.79 70.11
2016-06-30 1,552.41 1,098.98 60.32
2016-03-31 1,645.58 1,312.96 18.91
2015-12-31 1,724.21 1,384.72 12.53
2015-09-30 1,826.86 1,370.16 12.52
2015-06-30 1,896.65 1,390.89 12.91
2015-03-31 1,937.61 1,498.76 8.42
2014-12-31 1,996.69 1,588.65 27.67
2014-09-30 2,063.49 1,577.47 11.68
2014-06-30 2,068.87 1,571.02 11.56
2014-03-31 2,051.61 1,372.26 14.74
2013-12-31 1,925.34 1,261.29 14.85
2013-09-30 1,864.64 1,082.27 6.08
2013-06-30 1,833.17 1,125.49 19.78
  • Apollo Investment's level of debt (146.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (79.5% vs 146.9% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are not well covered by earnings (EBIT is 3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Apollo Investment's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Apollo Investment has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AINV Dividends

 What is Apollo Investment's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
30.05%
Current annual income from Apollo Investment dividends. Estimated to be 29.66% next year.
If you bought $2,000 of Apollo Investment shares you are expected to receive $601 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Apollo Investment's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (2.07%).
  • Apollo Investment's dividend is above the markets top 25% of dividend payers in United States of America (5.82%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:AINV Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 44 Stocks 2.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1933 Stocks 3.1%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2.1%
United States of America Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:AINV Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-03-31 1.80 3.00
2021-03-31 1.77 11.00
2020-04-07
2020-03-31 1.80 11.00
NasdaqGS:AINV Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-04 1.800 16.464
2019-11-05 1.800 10.488
2019-08-06 1.800 11.172
2019-05-16 1.800 11.176
2019-02-06 1.800 11.655
2018-10-30 1.800 12.293
2018-08-08 1.800 10.988
2018-05-18 1.800 10.452
2018-02-07 1.800 11.087
2017-08-04 1.800 10.075
2017-05-18 1.800 9.415
2017-02-06 1.800 9.348
2016-11-08 1.800 10.002
2016-08-05 1.800 10.088
2016-05-19 2.400 14.542
2016-02-09 2.400 14.736
2015-11-05 2.400 14.708
2015-08-06 2.400 13.282
2015-02-05 2.400 10.604
2014-11-06 2.400 10.503
2014-05-20 2.400 9.473
2014-02-06 2.400 9.612
2013-11-08 2.400 9.233
2013-08-08 2.400 9.729
2013-05-24 2.400 9.961
2013-05-23 2.400 9.278
2012-11-08 2.400 9.460
2012-08-08 2.400 10.080
2012-05-23 2.400 10.457
2012-02-08 2.400 11.245
2011-11-03 3.360 15.724
2011-08-03 3.360 13.788
2011-05-31 3.360 11.056
2011-02-03 3.360 9.538
2010-11-04 3.360 9.948
2010-02-09 3.300 10.217
2009-11-05 3.360 11.253
2009-08-06 3.360 11.923
2009-06-01 3.120 16.800

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Apollo Investment's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
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Income/ dividend checks
We assess Apollo Investment's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Apollo Investment afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Apollo Investment has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AINV Management

 What is the CEO of Apollo Investment's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Howard Widra
COMPENSATION $0
AGE 47
TENURE AS CEO 1.9 years
CEO Bio

Mr. Howard T. Widra has been with Apollo Global Management, LLC and/or its affiliates since 2013, most recently serving as Partner of Credit at Apollo Global Management, Inc. He serves as Partner & Head of Direct Origination of Credit in Bethesdae at Apollo Global Management, Inc. since 2019. He is President and Head of Direct Origination Apollo Investment Corporation. He has primary responsibility for Apollo Capital Management’s role in managing MidCap Financial. He has been the Chief Executive Officer and a Director of Apollo Investment Corporation since May 21, 2018. Mr. Widra served as the President of Apollo Investment Corporation from June 06, 2016 to May 18, 2018. He. Mr. Widra is a Co-Founder of MidCap Financial (“MidCap”) and was formerly its Chief Executive Officer. Prior to MidCap, Mr. Widra was the Founder and President of Merrill Lynch Capital Healthcare Finance (“Merrill Lynch”). Prior to Merrill Lynch, Mr. Widra was President of GE Capital Healthcare Commercial Finance and held senior roles in its predecessor entities including President of Heller Healthcare Finance, and Chief Operating Officer of Healthcare Financial Partners. Mr. Widra holds a J.D., Cum Laude, from the Harvard Law School and a B.A. in Economics from the University of Michigan.

CEO Compensation
  • Insufficient data for Howard to compare compensation growth.
  • Insufficient data for Howard to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Apollo Investment management team in years:

2.9
Average Tenure
46.5
Average Age
  • The tenure for the Apollo Investment management team is about average.
Management Team

John Hannan

TITLE
Chairman of the Board
AGE
67

Howard Widra

TITLE
CEO & Director
AGE
47
TENURE
1.9 yrs

Tanner Powell

TITLE
President & Chief Investment Officer of Apollo Investment Management
AGE
39
TENURE
1.9 yrs

Greg Hunt

TITLE
CFO & Treasurer
AGE
62
TENURE
7.9 yrs

Amit Joshi

TITLE
VP, Chief Accounting Officer
AGE
35
TENURE
2.9 yrs

Joseph Glatt

TITLE
Chief Legal Officer
AGE
46
TENURE
6.3 yrs

Elizabeth Besen

TITLE
Investor Relations Manager
TENURE
9.3 yrs

Isabelle Gold

TITLE
Chief Compliance Officer
AGE
36
TENURE
0.3 yrs

Justin Sendak

TITLE
Managing Director
AGE
50

Daniel Vogel

TITLE
Managing Director
Board of Directors Tenure

Average tenure and age of the Apollo Investment board of directors in years:

9.3
Average Tenure
67
Average Age
  • The tenure for the Apollo Investment board of directors is about average.
Board of Directors

John Hannan

TITLE
Chairman of the Board
AGE
67
TENURE
13.7 yrs

Howard Widra

TITLE
CEO & Director
AGE
47
TENURE
1.9 yrs

Elliot Stein

TITLE
Lead Independent Director
COMPENSATION
$212K
AGE
71
TENURE
9.3 yrs

Barbara Matas

TITLE
Independent Director
COMPENSATION
$187K
AGE
59
TENURE
3.1 yrs

Carl Spielvogel

TITLE
Independent Director
COMPENSATION
$173K
AGE
91
TENURE
16.1 yrs

Bradley Wechsler

TITLE
Director
AGE
68
TENURE
16 yrs

Frank Puleo

TITLE
Independent Director
COMPENSATION
$183K
AGE
74
TENURE
12.2 yrs

Jeanette Loeb

TITLE
Independent Director
COMPENSATION
$184K
AGE
67
TENURE
8.7 yrs

Rudy Reinfrank

TITLE
Independent Director
COMPENSATION
$193K
AGE
64
TENURE
6.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Apollo Investment individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. Mar 20 Buy Elliot Stein Individual 13. Mar 20 13. Mar 20 2,000 $11.50 $23,000
13. Mar 20 Buy Howard Widra Individual 12. Mar 20 12. Mar 20 20,000 $11.18 $223,600
11. Dec 19 Sell Elliot Stein Individual 09. Dec 19 09. Dec 19 -5,386 $17.18 $-92,531
11. Dec 19 Buy Elliot Stein Individual 08. Nov 19 08. Nov 19 6,684 $16.46 $110,019
11. Dec 19 Buy Howard Widra Individual 08. Nov 19 08. Nov 19 15,000 $16.47 $247,050
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Management checks
We assess Apollo Investment's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Apollo Investment has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AINV News

Simply Wall St News

Is It Time To Buy Apollo Investment Corporation (AINV)?

Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at AINV future expectations. … AINV’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value. … Will you have enough confidence to invest in the company should the price drop below its fair value?

Simply Wall St -

AINV Company Info

Description

Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products. It prefers to invest in warrants, makes equity co-investments, and may also invest in cash equivalents, U.S. government securities, high-quality debt investments that mature in one year or less, high-yield bonds, distressed debt, non-U.S. investments, or securities of public companies that are not thinly traded. It also focuses on other investments such as collateralized loan obligations and credit-linked notes. The fund typically invests in building materials, business services, cable television, chemicals, consumer products, direct marketing, distribution, energy and utilities, financial services, healthcare, manufacturing, media, publishing, retail and transportation. It primarily invests between $20 million and $250 million in its portfolio companies. The fund seeks to make investments with stated maturities of five to 10 years.

Details
Name: Apollo Investment Corporation
AINV
Exchange: NasdaqGS
Founded: 2004
$398,608,988
66,545,741
Website: http://www.apolloic.com
Address: Apollo Investment Corporation
9 West 57th Street,
43rd Floor,
New York,
New York, 10019,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS AINV Common Stock Nasdaq Global Select US USD 06. Apr 2004
OTCPK APDO.L Common Stock Pink Sheets LLC US USD 06. Apr 2004
DB 55O1 Common Stock Deutsche Boerse AG DE EUR 06. Apr 2004
Number of employees
Current staff
Staff numbers
0
Apollo Investment employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 02:41
End of day share price update: 2020/04/06 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2020/02/04
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.