ARES · Ares Management Corp - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · ARES

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$5.60B	$3.88B	$3.63B	$3.06B	$4.21B	$1.76B
Cost of Revenue	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-
R&D	-	-	-	-	-	-
SG&A	$996.08M	$736.50M	$660.15M	$259.00M	$444.18M	-
Total Operating Expenses	$4.71B	$2.94B	$2.80B	$2.75B	$3.41B	$1.45B
D&A	$45.20M	$32.20M	$31.40M	$26.20M	$22.10M	$19.00M
Operating Income	$1.29B	$1.28B	$1.33B	$510.81M	$379.48M	$379.48M
Interest Expense	-	-	$106.28M◇	$24.91M	$36.76M	-
Income Tax	$198.53M	$164.62M	$172.97M	$71.89M	$147.38M	$54.99M
Net Income	$527.36M	$463.74M	$474.33M	$167.54M	$408.84M	$152.14M
EPS - Basic	-	-	-	-	-	-
EPS - Diluted	-	-	-	-	-	-

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$488.90M	$1.51B	$348.27M	$389.99M	$343.65M	$539.81M
Accounts Receivable	-	-	-	-	-	-
Inventory	-	-	-	-	-	-
Accounts Payable	-	-	-	-	-	-
Current Assets	-	-	-	-	-	-
Total Assets	$28.63B	$24.88B	$24.73B	$22.00B	$21.61B	$15.17B
Current Liabilities	-	-	-	-	-	-
Long-term Debt	$3.94B◇	$2.56B◇	$2.97B◇	$2.27B◇	-	-
Total Liabilities	$19.93B	$17.49B	$19.71B	$17.10B	$16.69B	$12.60B
Stockholders' Equity	$4.28B	$3.54B	$1.89B	$1.59B	$1.83B	$1.19B
Retained Earnings	($1.45B)	($837.29M)	($495.08M)	($369.48M)	($89.38M)	($151.82M)

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$3.27B	$2.79B	($233.26M)	($734.11M)	($2.60B)	($425.66M)
Investing Cash Flow	($1.80B)	($159.40M)	($111.08M)	($337.38M)	($1.08B)	($136.76M)
Financing Cash Flow	($2.43B)	($1.43B)	$292.13M	$1.13B	$3.50B	$943.89M
CapEx	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	-	-	-	-	-	-
Operating margin	23.0%	32.8%	36.7%	16.7%	9.0%	21.5%
EBITDA margin	23.8%	33.7%	37.6%	17.6%	9.5%	22.6%
Net margin	9.4%	11.9%	13.1%	5.5%	9.7%	8.6%
Free cash flow margin	-	-	-	-	-	-
FCF / Net income	-	-	-	-	-	-
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	17.8%	19.0%	18.2%	8.5%	10.5%	-
Effective tax rate	27.4%	26.2%	26.7%	30.0%	26.5%	26.5%
Return on assets	1.8%	1.9%	1.9%	0.8%	1.9%	1.0%
Return on equity	12.3%	13.1%	25.1%	10.5%	22.4%	12.7%
Return on invested capital	11.4%	15.4%	20.1%	9.3%	-	-
Liquidity
Current ratio	-	-	-	-	-	-
Quick ratio	-	-	-	-	-	-
Cash ratio	-	-	-	-	-	-
Leverage
Debt / Equity	0.92	0.72	1.57	1.43	-	-
Debt / Assets	0.14	0.10	0.12	0.10	-	-
Debt / EBITDA	2.96	1.96	2.17	4.23	-	-
Interest coverage	-	-	12.5x	20.5x	10.3x	-
Equity multiplier	6.70	7.02	13.06	13.84	11.84	12.71
Liabilities / Assets	0.70	0.70	0.80	0.78	0.77	0.83
Efficiency
Asset turnover	0.20	0.16	0.15	0.14	0.19	0.12
Inventory turnover	-	-	-	-	-	-
Days sales outstanding	-	-	-	-	-	-
Days inventory outstanding	-	-	-	-	-	-
Days payable outstanding	-	-	-	-	-	-
Cash conversion cycle	-	-	-	-	-	-
Valuation
P / E	-	-	-	-	-	-
P / B	-	-	-	-	-	-
P / S	-	-	-	-	-	-
EV / EBITDA	-	-	-	-	-	-
Growth
Revenue growth (YoY)	44.2%	7.0%	18.9%	-27.5%	138.8%	19.2%
Revenue CAGR (3y)	22.4%	-2.7%	27.2%	27.3%	51.2%	7.6%
Revenue CAGR (5y)	26.0%	21.3%	24.4%	16.6%	28.6%	16.7%
Gross profit growth (YoY)	-	-	-	-	-	-
Operating income growth (YoY)	0.9%	-4.3%	161.0%	34.6%	0.0%	-10.7%
Net income growth (YoY)	13.7%	-2.2%	183.1%	-59.0%	168.7%	2.2%
EPS growth (YoY)	-	-	-	-	-	-
EPS CAGR (3y)	-	-	-	-	-	-
EPS CAGR (5y)	-	-	-	-	-	-
FCF growth (YoY)	-	-	-	-	-	-
FCF CAGR (5y)	-	-	-	-	-	-
Book value growth (YoY)	20.7%	87.2%	19.1%	-12.9%	52.9%	55.4%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Product / service

$5.86B total

Management Service$3.68B · 62.8%

Carried Interest$1.15B · 19.7%

Management Service Incentive$362.45M · 6.2%

Administrative Service$356.44M · 6.1%

Fee Related Performance Revenues$210.36M · 3.6%

Service Other$52.90M · 0.9%

Principal Investment Income Loss$48.15M · 0.8%

Stability scores

Piotroski F-score

FY 2025 · 9-point quality

4/9

Neutral

✓Net income positive
✓Operating cash flow positive
✗ROA improved YoY
✓Cash flow > net income
✗Long-term debt decreased
-Current ratio improved
-No share dilution
-Gross margin improved
✓Asset turnover improved

Peer comparison

Same SIC group: Investment Advice

Company	Revenue (last FY)	Net margin	ROE
TROW	$7.31B	28.5%	19.2%
CNS	-	-	27.3%
MORN	$2.45B	15.1%	30.3%
MC	-	-	45.7%
APO	$32.05B	10.9%	15.0%

Comparing Ares Management Corp against the 5 most active filers in the same SIC group.

Dividends

$4.71/share trailing 12 months · +20.5% YoY

Ex-date	Per share
Mar 17, 2026	$1.3500
Dec 17, 2025	$1.1200
Sep 16, 2025	$1.1200
Jun 16, 2025	$1.1200
Mar 17, 2025	$1.1200
Dec 17, 2024	$0.9300
Sep 16, 2024	$0.9300
Jun 14, 2024	$0.9300
Mar 14, 2024	$0.9300
Dec 14, 2023	$0.7700
Sep 14, 2023	$0.7700
Jun 15, 2023	$0.7700
Mar 16, 2023	$0.7700
Dec 15, 2022	$0.6100
Sep 15, 2022	$0.6100
Jun 15, 2022	$0.6100
Mar 16, 2022	$0.6100
Dec 16, 2021	$0.4700
Sep 15, 2021	$0.4700
Jun 15, 2021	$0.4700
Mar 16, 2021	$0.4700
Dec 16, 2020	$0.4000
Sep 15, 2020	$0.4000
Jun 15, 2020	$0.4000

Cells marked with a small ◇ are sourced from SEC's bulk Financial Statement Data Sets, which can lose dimensional context (notably Revenue and Operating Income for issuers that report by segment). These cells will be replaced with authoritative values from the Company Facts API as the backfill completes.