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ARES

Ares Management Corporation

ARES

Ares Management Corporation • NYSE
$156.85 ▲ 1.49% (+2.30)
Market Cap $34.01 B
52w High $200.49
52w Low $110.63
Dividend Yield 4.29%
P/E 66.18
Volume 753.29K
Outstanding Shares 216.85M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.658B ▲ $244.286M ▼ $288.882M ▲ 17.427% ▲ $1.2 ▲ $415.368M ▲
Q2-2025 $1.491B ▲ $493.869M ▲ $137.062M ▲ 9.195% ▲ $0.46 ▲ $285.161M ▲
Q1-2025 $1.089B ▼ $199.37M ▼ $47.17M ▼ 4.332% ▼ $0.053 ▼ $179.905M ▼
Q4-2024 $1.259B ▲ $208.321M ▲ $177.317M ▲ 14.084% ▲ $0.72 ▲ $339.684M ▲
Q3-2024 $1.13B $190.414M $118.46M 10.486% $0.55 $335.192M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $1.532B ▼ $27.265B ▲ $19.008B ▲ $4.362B ▼
Q1-2025 $1.803B ▼ $27.182B ▲ $18.97B ▲ $4.454B ▲
Q4-2024 $2.735B ▲ $24.884B ▲ $18.06B ▼ $3.544B ▲
Q3-2024 $1.666B ▲ $24.523B ▲ $19.212B ▲ $2.076B ▲
Q2-2024 $1.525B $24.193B $18.995B $2.002B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $225.98M ▲ $415.701M ▼ $-22.918M ▲ $-567.201M ▲ $-108.88M ▲ $392.783M ▼
Q1-2025 $123.501M ▼ $1.994B ▲ $-1.745B ▼ $-1.178B ▼ $-889.44M ▼ $1.972B ▲
Q4-2024 $540.226M ▲ $807.618M ▼ $-63.518M ▼ $478.161M ▲ $1.158B ▲ $798.312M ▼
Q3-2024 $410.138M ▲ $841.319M ▲ $-32.577M ▼ $-784.224M ▼ $65.693M ▲ $814.425M ▲
Q2-2024 $87.344M $432.172M $-29.238M $-458.899M $-20.221M $402.934M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Administrative Service
Administrative Service
 $40.00M ▲$80.00M ▲$60.00M ▼$100.00M ▲
Carried Interest
Carried Interest
 $280.00M ▲$140.00M ▼$170.00M ▲$330.00M ▲
Management Service
Management Service
 $770.00M ▲$1.52Bn ▲$830.00M ▼$910.00M ▲
Management Service Incentive
Management Service Incentive
 $50.00M ▲$290.00M ▲$30.00M ▼$20.00M ▼
Principal Investment Income
Principal Investment Income
 $10.00M ▲$20.00M ▲$30.00M ▲$90.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue and operating profits have grown meaningfully over the past five years, showing that Ares is successfully scaling its platform and fee base. Profitability at the operating level looks solid and more stable than the bottom line. Net income and earnings per share, however, have been bumpier, with a dip a couple of years ago and only modest improvement since, suggesting that mix of earnings, performance fees, and compensation or financing costs can swing reported profits from year to year. Overall, it looks like a growing franchise with some natural volatility in headline earnings, which is typical for alternative asset managers.

Balance Sheet

Balance Sheet The balance sheet has expanded steadily, reflecting growth in the business. Cash levels have improved notably most recently, giving the firm more flexibility. Debt remains sizable and still clearly larger than the firm’s equity, which is common in the sector but means leverage is an important risk factor to monitor. Equity has risen over time, indicating accumulated value and/or capital raising, which helps offset some of the balance-sheet risk from borrowing. In short, Ares appears better capitalized than a few years ago but still relies meaningfully on debt to support its strategy.

Cash Flow

Cash Flow The most recent year shows a major turnaround in cash generation, with strong cash inflows from operations and similarly strong free cash flow, helped by very modest capital spending needs. In earlier years, operating and free cash flow were negative, underscoring how cash can be quite volatile depending on fund flows, investment activity, and working capital movements. The current pattern points to a capital‑light model that can produce substantial cash when conditions line up, but with a history that reminds investors that cash flow may not be smooth from year to year.

Competitive Edge

Competitive Edge Ares sits in a strong position within alternative asset management, particularly in private credit and secondaries. Its large scale, global reach, and breadth across credit, private equity, real assets, and secondaries give it substantial visibility with institutional and wealth clients. An integrated platform and deep relationships with portfolio companies and limited partners support a durable competitive moat that is hard for smaller rivals to match. At the same time, the firm operates in a fiercely competitive landscape alongside other mega‑managers, and its performance is tied to credit cycles, fundraising conditions, and regulatory change in private markets.

Innovation and R&D

Innovation and R&D Innovation at Ares is focused on data, technology, and product design rather than traditional R&D. The Ares IQ analytics platform, AI‑driven partnerships, and climate data initiatives show a clear push to make investment decisions more evidence‑based and scalable. On the product side, leadership in private credit, creative secondary strategies, and semi‑liquid vehicles for wealth clients illustrate an emphasis on structuring vehicles that broaden access to private markets. The main execution risks are staying ahead in the technology arms race and ensuring new products scale without diluting performance or overcomplicating the platform.

Summary

Overall, Ares looks like a growth‑oriented alternative asset manager with strengthening operations, a larger and more liquid balance sheet than in the past, and improved free cash generation. Its competitive edge appears to come from scale, an integrated multi‑asset platform, and strong relationships, especially in private credit and secondaries. Earnings and cash flows can be lumpy, and leverage remains a key consideration, but the firm’s strategic focus on technology, data‑driven investing, and expanding the private wealth channel positions it to participate in long‑term trends toward private market investments, while exposing it to market cycle and execution risks typical of the sector.

NEWS

November 25, 2025 · 4:30 PM UTC

Ares Management Corporation to Present at the 2025 Goldman Sachs Financial Services Conference

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November 20, 2025 · 8:00 AM UTC

Aspida Holdings Ltd. Appoints Suzanne Sadlier As Head of Regulatory Affairs

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November 5, 2025 · 5:00 PM UTC

Ares Management Corporation to Present at the Citizens Financial Services Conference

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November 5, 2025 · 5:32 AM UTC

Ares Management Completes Investment in Plenitude

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November 3, 2025 · 6:30 AM UTC

Ares Management Announces Third Quarter 2025 U.S. Direct Lending Origination Activity

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