Apollo Global Management Inc (APO) is undervalued and State Street Corp (STT) is undervalued.
Against our estimates of intrinsic value, STT trades at the wider discount: a margin of safety of +66%, against +36% for APO.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 11.0% (average of 3 methods) values the shares at $195.25; the price of $124.15 is 36% below that value, and 71% of that value comes from beyond year five.
Leak Score 59/100 on 5 of 12 signals
Discounting its cash flows at 11.2% (average of 3 methods) values the shares at $532.76; the price of $180.25 is 66% below that value, and 68% of that value comes from beyond year five.
Leak Score 69/100 on 10 of 12 signals
| Metric | APO | STT |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $124.15 | $180.25 |
| Intrinsic value | $195.25 | $532.76 |
| Margin of safety | +36% | +66% |
| Leak Score | 59/100 (5/12) | 69/100 (10/12) |
| Market cap | $73.3B | $49.5B |
| Revenue growth, 5 years | 68.2% | 14.1% |
| Operating margin | 21.3% | 20.2% |
| Net margin | 4.6% | 14.8% |
| Return on equity | 8.6% | 12.4% |
| Debt to equity | 0.65 | 1.08 |
| P/E | 47.0x | 15.9x |
| Forward P/E | 11.6x | 11.8x |
| P/B | 3.6x | 2.0x |
| Dividend yield | 1.8% | 1.9% |