Last 47 quarters of trend data · Financial Services · Asset Management
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Ares Management Corporation's quarterly P/E stands at 310.8x, up 377.6% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 12.7% YoY to 21.1x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 62.83 | 310.83 | 34.76 | 94.13 | 694.18 | 65.08 | 70.84 | 74.04 | 97.78 | 34.57 | 85.73 | 32.55 | 41.72 |
| — | +377.6% | -50.9% | +27.1% | +609.9% | +88.3% | -17.4% | +127.5% | +134.4% | +21.2% | — | -51.9% | -50.7% | |
| P/S Ratio | 6.25 | 5.06 | 5.30 | 7.02 | 7.05 | 7.56 | 6.92 | 8.29 | 9.05 | 5.35 | 7.13 | 4.28 | 4.59 |
| — | -33.1% | -23.4% | -15.3% | -22.2% | +41.3% | -3.0% | +93.9% | +97.2% | +54.5% | +110.2% | +3.3% | -7.2% | |
| P/B Ratio | 3.08 | 4.11 | 4.09 | 4.59 | 3.74 | 5.58 | 5.89 | 5.03 | 5.72 | 5.04 | 4.77 | 4.68 | 3.66 |
| — | -26.4% | -30.7% | -8.7% | -34.7% | +10.6% | +23.6% | +7.4% | +56.3% | +47.5% | +51.9% | +72.5% | -5.1% | |
| P/FCF | 26.19 | — | 6.61 | 24.13 | 3.89 | 11.92 | 9.60 | 16.22 | 9.36 | — | 16.22 | — | 5.34 |
| — | — | -31.1% | +48.8% | -58.4% | — | -40.8% | — | +75.2% | — | -91.3% | — | -67.4% | |
| EV / EBITDA | 26.88 | 21.13 | 27.92 | 26.18 | 31.99 | 18.75 | 19.73 | 17.09 | 20.67 | 12.68 | 17.71 | 13.39 | 16.20 |
| — | +12.7% | +41.5% | +53.2% | +54.8% | +47.9% | +11.4% | +27.6% | +27.6% | +2.2% | -77.8% | -59.3% | -37.5% | |
| EV / EBIT | 30.58 | 31.29 | 13.56 | 26.18 | 31.99 | 18.75 | 19.73 | 17.09 | 20.67 | 12.68 | 17.71 | 13.39 | 16.20 |
| — | +66.9% | -31.3% | +53.2% | +54.8% | +47.9% | +11.4% | +27.6% | +27.6% | +2.2% | -77.8% | -59.3% | -37.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Ares Management Corporation's operating margin was 29.3% in Q4 2025, up 8.2 pp QoQ and up 7.2 pp YoY. This marks the 4th consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 18.2% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 14.9% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.8% | 72.6% | 60.2% | 52.3% | 39.6% | 63.2% | 61.4% | 46.8% | 41.6% | 62.9% | 45.3% | 66.4% | 55.6% |
| — | +14.9% | -2.0% | +11.9% | -4.7% | +0.5% | +35.7% | -29.6% | -25.2% | -0.7% | -3.5% | +76.9% | +11.2% | |
| Operating Margin | 27.2% | 29.3% | 21.1% | 15.7% | 6.8% | 22.1% | 24.3% | 28.4% | 23.9% | 26.9% | 16.4% | 23.4% | 22.7% |
| — | +32.5% | -13.4% | -44.6% | -71.3% | -17.8% | +48.1% | +21.6% | +5.1% | +0.4% | +236.0% | +189.5% | +57.2% | |
| Net Margin | 8.2% | 3.1% | 17.4% | 10.2% | 4.3% | 14.1% | 10.5% | 12.0% | 10.3% | 16.5% | 9.2% | 13.2% | 11.6% |
| — | -78.2% | +66.2% | -15.7% | -58.0% | -14.7% | +13.8% | -8.9% | -10.7% | +31.7% | +307.6% | +100.1% | +80.2% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.8% | 0.6% | 3.4% | 1.7% | 0.6% | 2.9% | 2.3% | 2.0% | 1.6% | 4.1% | 1.5% | 3.6% | 2.4% |
| — | -78.5% | +51.9% | -15.2% | -61.5% | -28.7% | +46.1% | -45.2% | -31.7% | +26.7% | +254.9% | +230.6% | +94.7% | |
| ROA | 2.0% | 0.2% | 1.1% | 0.5% | 0.2% | 0.7% | 0.5% | 0.4% | 0.3% | 0.7% | 0.3% | 0.6% | 0.4% |
| — | -73.0% | +118.8% | +28.9% | -39.0% | -0.7% | +82.9% | -39.1% | -30.6% | +33.0% | +258.7% | +242.0% | +99.5% | |
| ROIC | 6.1% | 1.7% | 1.2% | 0.7% | 0.3% | 1.1% | 1.0% | 0.9% | 0.6% | 1.1% | 0.5% | 1.1% | 0.8% |
| — | +64.2% | +16.4% | -13.5% | -57.5% | -4.9% | +129.1% | -21.0% | -20.8% | -2.4% | +201.9% | +382.5% | +68.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Ares Management Corporation's Debt/EBITDA ratio is 25.6x, down from 30.6x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 128.6% YoY to 2.24x, strengthening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.71 | 1.71 | 1.48 | 1.63 | 1.63 | 1.93 | 2.72 | 2.79 | 3.43 | 3.52 | 3.54 | 3.51 | 3.31 |
| — | -11.0% | -45.5% | -41.5% | -52.5% | -45.3% | -23.2% | -20.6% | +3.6% | +0.3% | -3.3% | +2.1% | -4.4% | |
| Debt / EBITDA | 7.44 | 25.64 | 30.64 | 28.29 | 40.45 | 20.34 | 25.84 | 25.33 | 32.18 | 21.70 | 31.28 | 23.76 | 31.90 |
| — | +26.0% | +18.6% | +11.7% | +25.7% | -6.3% | -17.4% | +6.6% | +0.9% | -17.3% | -82.6% | -69.2% | -36.9% | |
| Current Ratio | 2.24 | 2.24 | 1.54 | 0.55 | 0.58 | 0.98 | 0.66 | 0.67 | 0.67 | 0.73 | 0.54 | 0.51 | 0.57 |
| — | +128.6% | +132.3% | -17.5% | -14.1% | +34.1% | +21.7% | +31.6% | +18.3% | +13.7% | +6.3% | -0.3% | +23.1% | |
| Quick Ratio | 2.24 | 2.24 | 1.54 | 0.55 | 0.58 | 0.98 | 0.66 | 0.67 | 0.67 | 0.73 | 0.54 | 0.51 | 0.57 |
| — | +128.6% | +132.3% | -17.5% | -14.1% | +34.1% | +21.7% | +31.6% | +18.3% | +13.7% | +6.3% | -0.3% | +23.1% | |
| Interest Coverage | 2.68 | 2.11 | 4.21 | 2.52 | 1.75 | 2.62 | 2.42 | 2.24 | 1.94 | 2.99 | 2.00 | 2.83 | 2.33 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Ares Management Corporation's current P/E is 62.8x. The average P/E over the last 4 quarters is 283.5x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Ares Management Corporation's current operating margin is 27.2%. Margins have been expanding 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.