Last 48 quarters of trend data · Financial Services · Asset Managers & Custodians
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 70.43 | 111.70 | 56.79 | 41.52 | 310.83 | 34.76 | 94.13 | 694.18 | 65.08 | 70.84 | 74.04 | 97.78 | 34.57 | 85.73 | 32.55 | 41.72 | 28.52 | — | 67.69 | 84.61 | 30.78 |
| — | +221.4% | -39.7% | -94.0% | +377.6% | -50.9% | +27.1% | +609.9% | +88.3% | -17.4% | +127.5% | +134.4% | +21.2% | — | -51.9% | -50.7% | -7.4% | — | +193.8% | +93.3% | +25.6% | |
| P/S Ratio | 8.06 | 5.23 | 4.95 | 4.43 | 5.66 | 6.04 | 8.17 | 8.53 | 9.40 | 8.70 | 12.25 | 13.87 | 6.96 | 10.79 | 5.28 | 5.91 | 4.21 | 4.06 | 4.93 | 5.66 | 3.12 |
| — | -13.4% | -39.4% | -48.1% | -39.8% | -30.6% | -33.4% | -38.5% | +35.1% | -19.4% | +131.8% | +134.7% | +65.4% | +165.8% | +7.2% | +4.5% | +35.0% | +3.2% | +110.6% | +43.3% | +4.1% | |
| P/B Ratio | 3.35 | 3.12 | 2.93 | 2.85 | 4.11 | 4.09 | 4.59 | 3.74 | 5.58 | 5.89 | 5.03 | 5.72 | 5.04 | 4.77 | 4.68 | 3.66 | 3.42 | 3.14 | 2.72 | 3.86 | 4.03 |
| — | -23.7% | -36.2% | -23.8% | -26.4% | -30.7% | -8.7% | -34.7% | +10.6% | +23.6% | +7.4% | +56.3% | +47.5% | +51.9% | +72.5% | -5.1% | -15.0% | -19.3% | -18.8% | +1.8% | +41.4% | |
| P/FCF | — | — | — | 15.23 | — | 6.61 | 24.13 | 3.89 | 11.92 | 9.60 | 16.22 | 9.36 | — | 16.22 | — | 5.34 | — | 185.63 | — | 16.41 | — |
| — | — | — | +291.4% | — | -31.1% | +48.8% | -58.4% | — | -40.8% | — | +75.2% | — | -91.3% | — | -67.4% | — | — | — | — | — | |
| EV / EBITDA | 29.08 | 15.67 | 17.62 | 21.50 | 21.13 | 27.92 | 26.18 | 31.99 | 38.13 | 34.31 | 37.56 | 47.94 | 12.68 | 37.26 | 26.50 | 16.20 | 10.64 | 45.87 | 60.36 | 25.90 | 17.09 |
| — | -43.9% | -32.7% | -32.8% | -44.6% | -18.6% | -30.3% | -33.3% | +200.8% | -7.9% | +41.8% | +196.0% | +19.2% | -18.8% | -56.1% | -37.5% | -37.8% | +148.7% | +347.9% | +46.4% | -26.0% | |
| EV / EBIT | 32.60 | 13.55 | 17.62 | 18.17 | 31.29 | 13.56 | 26.18 | 31.99 | 18.75 | 19.73 | 17.09 | 20.67 | 12.68 | 17.71 | 13.39 | 16.20 | 12.40 | 79.61 | 32.87 | 25.90 | 17.09 |
| — | -0.1% | -32.7% | -43.2% | +66.9% | -31.3% | +53.2% | +54.8% | +47.9% | +11.4% | +27.6% | +27.6% | +2.2% | -77.8% | -59.3% | -37.5% | -27.5% | +331.5% | +144.0% | +46.4% | +39.9% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 84.9% | 95.3% | 19.5% | 109.7% | 81.2% | 68.6% | 60.9% | 48.0% | 78.6% | 77.2% | 69.1% | 63.8% | 81.8% | 68.4% | 82.0% | 71.6% | 76.9% | 56.1% | 44.7% | 57.2% | 79.9% |
| — | +38.9% | -67.9% | +128.6% | +3.3% | -11.1% | -12.0% | -24.8% | -3.9% | +12.8% | -15.8% | -11.0% | +6.3% | +22.0% | +83.6% | +25.2% | -3.7% | -19.9% | -46.4% | -22.1% | +4.3% | |
| Operating Margin | 30.9% | 28.9% | 19.5% | 27.2% | 32.7% | 24.0% | 18.3% | 8.3% | 27.5% | 30.6% | 42.0% | 36.6% | 35.0% | 24.8% | 28.9% | 29.2% | 32.5% | -14.4% | 9.6% | 16.5% | 21.4% |
| — | +20.4% | +6.7% | +228.1% | +19.1% | -21.4% | -56.4% | -77.4% | -21.4% | +23.1% | +45.4% | +25.1% | +7.4% | +272.0% | +200.4% | +77.0% | +52.3% | -193.4% | -56.2% | -28.0% | -24.2% | |
| Net Margin | 9.2% | 6.8% | 11.8% | 10.6% | 3.4% | 19.9% | 11.8% | 5.2% | 17.5% | 13.2% | 17.8% | 15.8% | 21.5% | 13.9% | 16.3% | 14.9% | 15.2% | -5.3% | 7.9% | 7.3% | 10.1% |
| — | -66.0% | +0.3% | +102.4% | -80.4% | +50.7% | -33.6% | -66.9% | -18.4% | -5.4% | +8.9% | +6.3% | +41.0% | +362.6% | +107.6% | +103.0% | +51.1% | -154.8% | -31.7% | -27.1% | -25.3% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.8% | 1.0% | 1.8% | 1.7% | 0.6% | 3.4% | 1.7% | 0.6% | 2.9% | 2.3% | 2.0% | 1.6% | 4.1% | 1.5% | 3.6% | 2.4% | 3.2% | -1.0% | 1.1% | 1.2% | 3.4% |
| — | -70.8% | +6.7% | +166.4% | -78.5% | +51.9% | -15.2% | -61.5% | -28.7% | +46.1% | -45.2% | -31.7% | +26.7% | +254.9% | +230.6% | +94.7% | -4.2% | -141.0% | -77.6% | -48.6% | +3.1% | |
| ROA | 2.0% | 0.3% | 0.5% | 0.5% | 0.2% | 1.1% | 0.5% | 0.2% | 0.7% | 0.5% | 0.4% | 0.3% | 0.7% | 0.3% | 0.6% | 0.4% | 0.5% | -0.2% | 0.2% | 0.2% | 0.6% |
| — | -73.2% | +3.1% | +174.2% | -73.0% | +118.8% | +28.9% | -39.0% | -0.7% | +82.9% | -39.1% | -30.6% | +33.0% | +258.7% | +242.0% | +99.5% | -9.0% | -138.1% | -76.7% | -41.7% | +13.4% | |
| ROIC | 6.1% | 1.7% | 0.8% | 1.2% | 1.7% | 1.2% | 0.7% | 0.3% | 1.1% | 1.0% | 0.9% | 0.6% | 1.1% | 0.5% | 1.1% | 0.8% | 1.1% | -0.4% | 0.2% | 0.5% | 1.3% |
| — | +37.2% | +10.1% | +341.4% | +64.2% | +16.4% | -13.5% | -57.5% | -4.9% | +129.1% | -21.0% | -20.8% | -2.4% | +201.9% | +382.5% | +68.3% | -9.4% | -164.8% | -84.8% | -36.5% | +32.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.71 | 0.10 | 1.73 | 1.69 | 1.71 | 1.48 | 1.63 | 1.63 | 1.93 | 2.72 | 2.79 | 3.43 | 3.52 | 3.54 | 3.51 | 3.31 | 3.51 | 3.66 | 3.44 | 3.46 | 3.28 |
| — | -93.3% | +6.0% | +4.1% | -11.0% | -45.5% | -41.5% | -52.5% | -45.3% | -23.2% | -20.6% | +3.6% | +0.3% | -3.3% | +2.1% | -4.4% | +7.2% | +10.4% | +10.6% | -23.5% | -25.7% | |
| Debt / EBITDA | 7.44 | 1.99 | 27.43 | 33.32 | 25.64 | 30.64 | 28.29 | 40.45 | 41.36 | 44.95 | 55.69 | 74.64 | 21.70 | 65.84 | 47.00 | 31.90 | 22.50 | 103.33 | 141.70 | 50.53 | 32.29 |
| — | -93.5% | -3.1% | -17.6% | -38.0% | -31.8% | -49.2% | -45.8% | +90.6% | -31.7% | +18.5% | +134.0% | -3.6% | -36.3% | -66.8% | -36.9% | -30.3% | +182.0% | +410.5% | +23.6% | -45.9% | |
| Current Ratio | 2.24 | 0.71 | 0.83 | 49.67 | 2.24 | 1.54 | 0.55 | 0.58 | 0.98 | 0.66 | 0.67 | 0.67 | 0.73 | 0.54 | 0.51 | 0.57 | 0.64 | 0.51 | 0.51 | 0.46 | 0.63 |
| — | -54.1% | +49.7% | +8538.8% | +128.6% | +132.3% | -17.5% | -14.1% | +34.1% | +21.7% | +31.6% | +18.3% | +13.7% | +6.3% | -0.3% | +23.1% | +1.3% | -33.0% | -15.9% | -41.2% | -36.3% | |
| Quick Ratio | 2.24 | 0.71 | 0.83 | 49.67 | 2.24 | 1.54 | 0.55 | 0.58 | 0.98 | 0.66 | 0.67 | 0.67 | 0.73 | 0.54 | 0.51 | 0.57 | 0.64 | 0.51 | 0.51 | 0.46 | 0.63 |
| — | -54.1% | +49.7% | +8538.8% | +128.6% | +132.3% | -17.5% | -14.1% | +34.1% | +21.7% | +31.6% | +18.3% | +13.7% | +6.3% | -0.3% | +23.1% | +1.3% | -33.0% | -15.9% | -41.2% | -36.3% | |
| Interest Coverage | 2.68 | 1.96 | 3.47 | 2.65 | 2.11 | 4.21 | 2.52 | 1.75 | 2.62 | 2.42 | 2.24 | 1.94 | 2.99 | 2.00 | 2.83 | 2.33 | 3.07 | 0.54 | 1.70 | 2.80 | 4.95 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying ARES stock.
Ares Management Corporation's current P/E is 70.4x. The average P/E over the last 4 quarters is 130.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Ares Management Corporation's current operating margin is 30.9%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Ares Management Corporation's business trajectory between earnings reports.