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ARES logoAres Management Corporation(ARES)Earnings, Financials & Key Ratios

ARES•NYSE•Banking & Credit
$122.96
$40.38B mkt cap·62.7× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryAsset ManagementSub-IndustryAlternative asset managers
AboutAres Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies. The company's Private Equity Group segment focuses on majority or shared-control investments primarily in under-capitalized companies. Its Real Estate Group segment invests in new developments and the repositioning of assets, with a focus on control or majority-control investments; and originates and invests in a range of self-originated financing opportunities for middle-market owners and operators of commercial real estate. The firm was previously known as Ares Management, L.P. Ares Management Corporation was founded in 1997 and is headquartered in Los Angeles, California with additional offices in the United States, Europe and Asia. Ares Management GP LLC is the general partner of the company.Show more
  • Net Interest Income-$97M-4988.9%
  • Total Revenue$6.47B+66.6%
  • Net Income$527M+13.7%
  • Return on Equity6.79%-17.2%
  • Net Interest Margin-0.33%-4267.7%
  • Efficiency Ratio47.57%+53.1%
  • ROA1.96%+4.7%
  • Equity / Assets30.01%+9.4%
  • Book Value per Share40.03+16.2%
  • Tangible BV/Share14.41-39.1%
  • Debt/Equity1.71-11.0%
Analysis→Technical→

ARES Key Insights

Ares Management Corporation (ARES) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 28.2%
  • ✓Strong Piotroski F-Score: 8/9
  • ✓Efficient operations: 47.6% efficiency ratio
  • ✓Well capitalized: 30.0% equity/assets
  • ✓Diversified revenue: 89.6% from non-interest income

✗Weaknesses

  • ✗Weak NIM of -0.3%
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

ARES Price & Volume

Ares Management Corporation (ARES) stock price & volume — 10-year historical chart

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ARES Growth Metrics

Ares Management Corporation (ARES) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years23.03%
5 Years29.68%
3 Years28.41%
TTM-

Profit CAGR

10 Years39.15%
5 Years28.22%
3 Years46.55%
TTM13.72%

EPS CAGR

10 Years23.89%
5 Years17.64%
3 Years31.09%
TTM-11.25%

Return on Capital

10 Years3.27%
5 Years4.59%
3 Years5.37%
Last Year7.33%

ARES Recent Earnings

Ares Management Corporation (ARES) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
May 1, 2026
EPS
$1.24
Est $1.32
-6.1%
Revenue
$1.4B
Est $1.3B
+6.6%
Q1 2026
Feb 5, 2026
EPS
$1.45
Est $1.69
-14.2%
Revenue
$1.5B
Est $1.5B
+0.7%
Q4 2025
Nov 3, 2025
EPS
$1.19
Est $1.15
+3.5%
Revenue
$1.7B
Est $1.1B
+57.0%
Q3 2025
Aug 1, 2025
EPS
$1.03
Est $1.08
-4.6%
Revenue
$1.4B
Est $1.0B
+33.3%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 1, 2026
$1.24vs $1.32-6.1%
$1.4Bvs $1.3B+6.6%
Q1 2026Feb 5, 2026
$1.45vs $1.69-14.2%
$1.5Bvs $1.5B+0.7%
Q4 2025Nov 3, 2025
$1.19vs $1.15+3.5%
$1.7Bvs $1.1B+57.0%
Q3 2025Aug 1, 2025
$1.03vs $1.08-4.6%
$1.4Bvs $1.0B+33.3%
Based on last 12 quarters of dataView full earnings history →

ARES Peer Comparison

Ares Management Corporation (ARES) competitors in Alternative asset managers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
APO logoAPOApollo Global Management, Inc.Direct Competitor73.98B130.3017.78-20%16.95%10.63%4.4%0.34
KKR logoKKRKKR & Co. Inc.Direct Competitor90.94B102.0043.59-10.99%12.31%3.19%10.47%0.67
BX logoBXBlackstone Inc.Direct Competitor96.16B122.7231.6321.58%21.83%14.35%1.81%0.61
CG logoCGThe Carlyle Group Inc.Direct Competitor18.47B51.2918.52118.97%24.96%9.66%1.50
BAM logoBAMBrookfield Asset Management Ltd.Direct Competitor81.28B48.4337.84-2.02%54.47%24.4%0.77%0.07
TPG logoTPGTPG Inc.Direct Competitor17.48B45.6137.6977.91%3.95%0.41%5.74%0.42
OWL logoOWLBlue Owl Capital Inc.Product Competitor16.8B10.7589.5825.04%2.75%1.43%7.13%0.64
HLI logoHLIHoulihan Lokey, Inc.Product Competitor10.31B150.1725.8024.81%16.73%19.52%7.85%0.20

Compare ARES vs Peers

Ares Management Corporation (ARES) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs APO

Most directly comparable listed peer for ARES.

Scale Benchmark

vs MS

Larger-name benchmark to compare ARES against a more recognizable public peer.

Peer Set

Compare Top 5

vs APO, KKR, BX, CG

ARES Income Statement

Ares Management Corporation (ARES) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Net Interest Income46.82M100.56M105.69M160.5M152.88M113.21M153.94M-1.9M-96.59M
NII Growth %37.69%114.79%5.1%51.86%-4.75%-25.95%35.98%-101.23%-4988.88%
Net Interest Margin %0.55%0.99%0.88%1.06%0.71%0.51%0.62%-0.01%-0.33%
Interest Income194.76M344.9M403.11M471.72M447.68M595.93M1.01B976.4M670.87M
Interest Expense147.95M244.34M297.42M311.22M294.81M482.72M860.88M978.3M767.46M
Loan Loss Provision366.16M326.04M355.94M456.03M867.83M1.02B625.82M753.45M863.46M
Non-Interest Income1.29B613.56M1.36B1.29B3.76B2.46B2.62B2.91B5.8B
Non-Interest Income %86.84%64.01%77.17%73.26%89.37%80.5%72.06%74.87%89.63%
Total Revenue
1.48B▲ 0%
958.46M▼ 35.2%
1.77B▲ 84.2%
1.76B▼ 0.1%
4.21B▲ 138.8%
3.06B▼ 27.5%
3.63B▲ 18.9%
3.88B▲ 7.0%
6.47B▲ 66.6%
Revenue Growth %17.98%-35.24%84.2%-0.08%138.77%-27.46%18.87%6.96%66.55%
Non-Interest Expense1.06B299.98M809.45M683.23M2.25B1.25B1.31B1.21B3.08B
Efficiency Ratio71.29%31.3%45.85%38.73%53.36%40.93%36.1%31.07%47.57%
Operating Income
-89.26M▲ 0%
88.1M▲ 198.7%
302.64M▲ 243.5%
313.56M▲ 3.6%
802.01M▲ 155.8%
306.36M▼ 61.8%
834.03M▲ 172.2%
946.09M▲ 13.4%
1.76B▲ 86.2%
Operating Margin %-6.03%9.19%17.14%17.78%19.04%10.03%22.96%24.35%27.22%
Operating Income Growth %-148.83%198.7%243.52%3.61%155.78%-61.8%172.24%13.44%86.17%
Pretax Income
149.86M▲ 0%
184.34M▲ 23.0%
425.18M▲ 130.6%
379.48M▼ 10.7%
1.07B▲ 180.8%
510.81M▼ 52.1%
1.33B▲ 161.0%
1.28B▼ 4.3%
1.29B▲ 0.9%
Pretax Margin %10.13%19.23%24.08%21.51%25.3%16.72%36.7%32.83%19.89%
Income Tax-23.05M32.2M52.38M54.99M147.38M71.89M172.97M164.62M198.53M
Effective Tax Rate %-15.38%17.47%12.32%14.49%13.83%14.07%12.98%12.91%15.43%
Net Income
76.18M▲ 0%
57.02M▼ 25.1%
148.88M▲ 161.1%
152.14M▲ 2.2%
408.84M▲ 168.7%
167.54M▼ 59.0%
474.33M▲ 183.1%
463.74M▼ 2.2%
527.36M▲ 13.7%
Net Margin %5.15%5.95%8.43%8.62%9.71%5.48%13.06%11.94%8.15%
Net Income Growth %-31.87%-25.15%161.11%2.19%168.72%-59.02%183.11%-2.23%13.72%
Net Income (Continuing)172.91M152.14M372.8M324.49M918.3M438.92M1.16B1.11B1.09B
EPS (Diluted)
0.62▲ 0%
0.30▼ 51.6%
1.06▲ 253.3%
0.87▼ 17.9%
2.15▲ 147.1%
0.87▼ 59.5%
2.42▲ 178.2%
2.07▼ 14.5%
1.96▼ 5.3%
EPS Growth %-48.33%-51.61%253.33%-17.92%147.13%-59.53%178.16%-14.46%-5.31%
EPS (Basic)0.620.301.110.892.250.872.462.071.96
Diluted Shares Outstanding81.84M96.02M119.88M149.51M180.11M175.51M195.77M198.05M217.36M

ARES Balance Sheet

Ares Management Corporation (ARES) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash & Short Term Investments675.43M494.89M744.71M1.06B1.39B1.11B1.5B2.74B1.5B
Cash & Due from Banks675.43M494.89M744.71M1.06B1.39B1.11B1.5B2.74B1.5B
Short Term Investments000000000
Total Investments7.31B9B10.39B12.56B16.5B17.18B19.23B17.38B12.84B
Investments Growth %92.37%23.15%15.47%20.87%31.38%4.11%11.92%-9.59%-26.11%
Long-Term Investments7.31B9B10.39B12.56B16.5B17.18B19.23B17.38B12.84B
Accounts Receivables000000000
Goodwill & Intangibles184.36M175.22M151.83M593.13M2.21B2.21B2.18B2.14B5.57B
Goodwill143.9M143.79M143.85M371.05M787.97M999.66M1.12B1.16B3.45B
Intangible Assets40.47M31.43M7.97M222.09M1.42B1.21B1.06B975.83M2.12B
PP&E (Net)61.15M63.38M206.29M215.62M238.91M235.63M371.55M688.99M517.35M
Other Assets43.55M35.59M33.82M42.89M64.34M111.62M157.45M186.08M6.71B
Total Current Assets958.72M839.06M1.18B1.69B2.55B2.2B2.77B4.25B3.35B
Total Non-Current Assets7.6B9.32B10.83B13.48B19.05B19.8B21.96B20.64B25.64B
Total Assets
8.56B▲ 0%
10.15B▲ 18.6%
12.01B▲ 18.3%
15.17B▲ 26.3%
21.61B▲ 42.4%
22B▲ 1.8%
24.73B▲ 12.4%
24.88B▲ 0.6%
28.99B▲ 16.5%
Asset Growth %46.89%18.58%18.31%26.26%42.43%1.84%12.4%0.62%16.51%
Return on Assets (ROA)1.06%0.61%1.34%1.12%2.22%0.77%2.03%1.87%1.96%
Accounts Payable146.27M167.1M150.03M162.11M382.93M400.21M423.41M686.97M0
Total Debt11.3B7.37B8.57B10.9B12.49B13.33B15.76B13.15B14.91B
Net Debt10.62B6.87B7.82B9.84B11.1B12.22B14.26B10.41B13.41B
Long-Term Debt5.59B7.16B8.29B10.6B12.16B12.98B15.31B12.23B12.77B
Short-Term Debt132.48M207.92M106.05M121.91M127.77M168.05M125.24M275M1.49B
Other Liabilities-5.55B29.39M37.8M222.29M1.41B1.62B834.29M855.09M5B
Total Current Liabilities1.49B1.57B1.66B1.69B4.02B3.42B3.79B4.33B1.49B
Total Non-Current Liabilities5.61B7.19B8.5B11B13.77B14.78B16.47B13.73B18.8B
Total Liabilities7.1B8.76B10.16B12.7B17.79B18.2B20.26B18.06B20.29B
Total Equity
1.46B▲ 0%
1.39B▼ 4.5%
1.86B▲ 33.3%
2.47B▲ 33.0%
3.81B▲ 54.3%
3.8B▼ 0.4%
4.47B▲ 17.8%
6.82B▲ 52.5%
8.7B▲ 27.5%
Equity Growth %6.03%-4.52%33.3%32.99%54.32%-0.41%17.79%52.52%27.51%
Equity / Assets (Capital Ratio)17.05%13.73%15.47%16.29%17.66%17.26%18.09%27.42%30.01%
Return on Equity (ROE)5.37%3.99%9.15%7.03%13.01%4.4%11.47%8.21%6.79%
Book Value per Share17.8414.5215.5016.5321.1821.6422.8534.4640.03
Tangible BV per Share15.5912.7014.2412.578.909.0611.7123.6614.41
Common Stock279.06M1.02M1.15M2.6M2.9M2.95M3.08M3.13M3.24M
Additional Paid-in Capital0326.01M525.24M1.04B1.91B1.97B2.39B2.94B4.24B
Retained Earnings0-29.34M-50.82M-151.82M-89.38M-369.48M-495.08M-837.29M-1.45B
Accumulated OCI-4.21M-8.52M-6.05M483K-1.85M-14.99M-5.63M-17.76M21.74M
Treasury Stock000000000
Preferred Stock298.76M298.76M298.76M298.76M0001.46B1.46B

ARES Cash Flow Statement

Ares Management Corporation (ARES) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations-1.86B428.08M-2.08B-425.66M-2.6B-734.11M-233.26M2.79B1.62B
Operating CF Growth %-197.77%122.98%-586.6%79.57%-509.89%71.72%68.23%1296.58%-42.08%
Net Income172.91M152.14M372.8M324.49M390.71M438.92M1.16B1.11B484.79M
Depreciation & Amortization32.81M28.52M39.46M41.25M113.96M341.34M231.71M158.58M241.93M
Deferred Taxes-8.11M00000000
Other Non-Cash Items-2.03B188.22M-2.18B-975.05M-3.2B-1.52B-1.43B1.37B616.56M
Working Capital Changes-100.93M164.69M-413.87M60.67M98.52M-194.63M-454.06M-202.99M273.24M
Cash from Investing-33.16M-18.42M-16.8M-136.76M-1.08B-337.38M-111.08M-159.4M694.23M
Purchase of Investments0000000-6.51B-8.5B
Sale/Maturity of Investments00000008.25B11B
Net Investment Activity00000001.74B2.5B
Acquisitions000-120.82M-1.06B-301.58M-43.9M-67.89M-1.73B
Other Investing0000000-1.74B0
Cash from Financing1.65B1.41B2.12B943.89M3.5B1.13B292.13M-1.43B-3.27B
Dividends Paid-283.36M-156.55M-345.37M-468.48M-604.36M-836.36M-1.03B-1.31B-1.76B
Share Repurchases00-10.45M000000
Stock Issued1.04M105.33M206.71M476.03M827.43M21.2M85.96M407.12M0
Net Stock Activity1.04M105.33M196.26M476.03M827.43M21.2M85.96M407.12M0
Debt Issuance (Net)1000K1000K1000K1000K1000K1000K1000K-1000K-1000K
Other Financing117.92M-157.09M130.31M-215.98M757.37M173.85M-445.61M291.4M-1.3B
Net Change in Cash
-223.93M▲ 0%
-8.68M▲ 96.1%
28.14M▲ 424.1%
401.43M▲ 1326.7%
-196.16M▼ 148.9%
46.33M▲ 123.6%
-41.71M▼ 190.0%
1.16B▲ 2880.2%
-1.29B▼ 211.0%
Exchange Rate Effect17.36M21.5M5.62M19.96M-19.1M-10.24M10.5M-40.45M-323.63M
Cash at Beginning342.86M118.93M110.25M138.38M539.81M343.65M389.99M348.27M2.74B
Cash at End118.93M110.25M138.38M539.81M343.65M389.99M348.27M1.51B1.45B
Interest Paid94.11M184.95M233.09M257.13M205.09M320.33M722.64M866.76M0
Income Taxes Paid18.18M27.48M35.63M38.17M22.79M104.86M62.01M107.57M0
Free Cash Flow
-1.9B▲ 0%
-1.44B▲ 24.3%
-2.1B▼ 46.3%
-441.6M▲ 79.0%
-2.62B▼ 494.0%
-769.91M▲ 70.7%
-300.44M▲ 61.0%
2.7B▲ 998.6%
1.54B▼ 42.8%
FCF Growth %-197.41%24.3%-46.28%78.97%-494.04%70.65%60.98%998.55%-42.79%

ARES Banking Ratios

Ares Management Corporation (ARES) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)9.44%5.37%3.99%9.15%7.03%13.01%4.4%11.47%8.21%6.79%
Return on Assets (ROA)2.2%1.06%0.61%1.34%1.12%2.22%0.77%2.03%1.87%1.96%
Net Interest Margin0.58%0.55%0.99%0.88%1.06%0.71%0.51%0.62%-0.01%-0.33%
Efficiency Ratio49.74%71.29%31.3%45.85%38.73%53.36%40.93%36.1%31.07%47.57%
Equity / Assets23.62%17.05%13.73%15.47%16.29%17.66%17.26%18.09%27.42%30.01%
Book Value / Share16.6117.8414.5215.516.5321.1821.6422.8534.4640.03
NII Growth1.05%37.69%114.79%5.1%51.86%-4.75%-25.95%35.98%-101.23%-4988.88%
Dividend Payout179.47%343.48%274.55%217.4%293.66%145.17%499.2%217.29%282.68%-

ARES SEC Filings & Documents

Ares Management Corporation (ARES) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Mar 31, 2026·SEC

Material company update

Mar 31, 2026·SEC

Material company update

Feb 5, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 27, 2025·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 8, 2025·SEC

FY 2025

May 12, 2025·SEC

ARES Frequently Asked Questions

Ares Management Corporation (ARES) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Ares Management Corporation (ARES) grew revenue by 66.6% over the past year. This is strong growth.

Yes, Ares Management Corporation (ARES) is profitable, generating $527.4M in net income for fiscal year 2025 (8.2% net margin).

Dividend & Returns

Yes, Ares Management Corporation (ARES) pays a dividend with a yield of 6.57%. This makes it attractive for income-focused investors.

Ares Management Corporation (ARES) has a return on equity (ROE) of 6.8%. This is below average, suggesting room for improvement.

Industry Metrics

Ares Management Corporation (ARES) has a net interest margin (NIM) of -0.3%. NIM has been under pressure due to interest rate environment.

Ares Management Corporation (ARES) has an efficiency ratio of 47.6%. This is excellent, indicating strong cost control.

Explore More ARES

Ares Management Corporation (ARES) financial analysis — history, returns, DCA and operating performance tools

Full ARES Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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