Ares Management Corp ARES

Financials SIC 6282 - Investment Advice NAICS Finance and Insurance › Securities, Commodity Contracts, and Other Financial Investments and Related Activities › Other Financial Investment Activities › Portfolio Management and Investment Advice derived NYSE

Ares is a leading global alternative investment manager with $622.5 billion of assets under management and over 4,250 employees in over 55 offices in more than 25 countries. We offer our investors a range of investment strategies and seek to deliver attractive performance to an investor base that includes over 2,850 direct institutional relationships and a significant retail investor base across our publicly-traded funds, sub-advised accounts and perpetual wealth vehicles. Since our inception in 1997, we have adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns through market cycles. Ares believes each of its distinct but complementary investment groups in Credit, Real Assets, Secondaries and Private Equity is a market leader based on assets under management and investment performance. We believe we create value for our stakeholders not only through our investment performance, but also by expanding our product offerings, enhancing our distribution channels, increasing our global presence, investing in our non-investment functions, securing strategic partnerships and completing strategic acquisitions and portfolio purchases.

Last close 122.08 2026-10-23
Market cap —
52-week range 95.80 - 181.19

Valuation FY2025 figures against the last close

P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS—

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $5.60B$3.88B$3.63B$3.06B$4.21B$1.76B$1.77B$958.5M$1.48B$964.8M
SG&A $996.1M$736.5M$660.1M$695.3M$444.2M$259.0M————
Total operating expenses $4.71B$2.94B$2.80B$2.75B$3.41B$1.45B$1.46B$870.4M$1.50B$1.02B
Interest expense ———$71.4M$36.8M$24.9M——$21.2M$18.0M
Pre-tax income $1.29B$1.28B$1.33B$510.8M$1.07B$379.5M$425.2M$184.3M$149.9M$297.9M
Income tax $198.5M$164.6M$173.0M$71.9M$147.4M$55.0M$52.4M$32.2M$23.1M$11.0M
Net income $426.1M$441.0M$474.3M$167.5M$386.7M$152.1M$148.9M$57.0M$76.2M$111.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $488.9M$1.51B$348.3M$390.0M$343.7M$539.8M$138.4M$110.2M$118.9M$342.9M
Goodwill $3.45B$1.16B$1.12B$999.7M$788.0M$371.0M$143.9M$143.8M$143.9M$143.7M
Other intangibles $798.4M$408.0M$490.7M$640.4M$768.8M$222.1M$8.0M$31.4M$40.5M$58.3M
Total assets $28.63B$24.88B$24.73B$22.00B$21.61B$15.17B$12.01B$10.15B$8.56B$5.83B
Total liabilities $19.93B$17.49B$19.71B$17.10B$16.69B$12.60B$10.16B$8.76B$7.10B$4.45B
Retained earnings -$1.45B-$837.3M-$495.1M-$369.5M-$89.4M-$151.8M-$50.8M-$29.3M$0—
Total equity $4.28B$3.54B$4.47B$3.80B$3.81B$2.47B$1.86B$1.39B$1.44B$1.38B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $3.27B$2.79B-$233.3M-$734.1M-$2.60B-$425.7M-$2.08B-$1.42B-$1.86B-$625.7M
Depreciation and amortisation $45.2M$32.2M$31.4M$26.2M$22.1M$19.0M$17.1M$16.1M$12.6M$8.2M
Capital expenditure ———————$18.4M$33.2M$11.9M
Investing cash flow -$1.80B-$159.4M-$111.1M-$337.4M-$1.08B-$136.8M-$16.8M-$18.4M-$33.2M-$11.9M
Financing cash flow -$2.43B-$1.43B$292.1M$1.13B$3.50B$943.9M$2.12B$1.41B$1.65B$880.8M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-026286.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2B 4B 6B Revenue, FY2016: 964.8M Net income, FY2016: 111.8M Revenue, FY2017: 1.5B Net income, FY2017: 76.2M Revenue, FY2018: 958.5M Net income, FY2018: 57M Revenue, FY2019: 1.8B Net income, FY2019: 148.9M Revenue, FY2020: 1.8B Net income, FY2020: 152.1M Revenue, FY2021: 4.2B Net income, FY2021: 386.7M Revenue, FY2022: 3.1B Net income, FY2022: 167.5M Revenue, FY2023: 3.6B Net income, FY2023: 474.3M Revenue, FY2024: 3.9B Net income, FY2024: 441M Revenue, FY2025: 5.6B Net income, FY2025: 426.1M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $964.8M $1.48B $958.5M $1.77B $1.76B $4.21B $3.06B $3.63B $3.88B $5.60B
Gross profit — — — — — — — — — —
Net income $111.8M $76.2M $57.0M $148.9M $152.1M $386.7M $167.5M $474.3M $441.0M $426.1M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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