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Financials · ARES

Ares Management Corporation (ARES) financials

For the twelve months ended Jun 30, 2026, Ares Management Corporation reported $5.99B of revenue and $636.35M of net income.

Revenue, TTM
$5.99B
Revenue growth, YoY
+24.0%
Net income, TTM
$636.35M
Net income growth, YoY
+32.6%
Net margin
10.6%
Cash
$557.09M
P/E
69.40
P/S
7.38
Market cap
$44.16B
Annual revenue$5.60B
FY2016FY2025
Annual net income$527.36M
FY2016FY2025
Annual free cash flow-$1.44B
FY2016FY2018

ARES revenue and earnings growth

ARES revenueQ2 2026$1.43B

Quarter YoY
+5.8%
QoQ
+2.3%
FY YoY
+44.2%
5Y CAGR
+26.0%
10Y CAGR
+21.3%

ARES revenue was $1.43B in fiscal Q2 2026 (ended Jun 30, 2026), up 5.8% from a year earlier and up 2.3% from the prior quarter. For the full fiscal 2025 it was $5.60B, up 44.2% from fiscal 2024. Compound annual growth was +26.0% over 5 years and +21.3% over 10 years. It rose in 7 of the last 10 fiscal years. Fiscal 2025 is the highest of the 14 fiscal years on file.

ARES net incomeQ2 2026$150.63M

Quarter YoY
+9.9%
QoQ
+5.6%
FY YoY
+13.7%
5Y CAGR
+28.2%
10Y CAGR
+39.1%

ARES net income was $150.63M in fiscal Q2 2026 (ended Jun 30, 2026), up 9.9% from a year earlier and up 5.6% from the prior quarter. For the full fiscal 2025 it was $527.36M, up 13.7% from fiscal 2024. Compound annual growth was +28.2% over 5 years and +39.1% over 10 years. It rose in 6 of the last 10 fiscal years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$5.60B$3.88B$3.63B$3.06B$4.21B$1.76B$1.77B$1.22B$1.48B$964.80M
Selling, general and admin$996.08M$736.50M$660.15M$695.26M$444.18M$259.00M----
Interest expense---$71.36M$36.76M$24.91M--$21.22M$17.98M
Pre-tax income$1.29B$1.28B$1.33B$510.81M$1.07B$379.48M$425.18M$184.34M$149.86M$297.92M
Income tax$198.53M$164.62M$172.97M$71.89M$147.38M$54.99M$52.38M$32.20M-$23.05M$11.02M
Net income$527.36M$463.74M$474.33M$167.54M$408.84M$152.14M$148.88M$57.02M$76.18M$111.81M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$488.90M$1.51B$348.27M$389.99M$343.65M$539.81M$138.38M$110.25M$118.93M$342.86M
Goodwill$3.45B$1.16B$1.12B$999.66M$787.97M$371.05M$143.85M$143.79M$143.90M$143.72M
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
Shareholders' equity$4.28B$6.82B$4.47B$3.80B$3.81B$2.47B$1.86B$1.39B$1.44B$1.38B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$3.27B$2.79B-$233.26M-$734.11M-$2.60B-$425.66M-$2.08B-$1.42B-$1.86B-$625.65M
Capital expenditures-------$18.42M$33.16M$11.91M
Free cash flow--------$1.44B-$1.90B-$637.57M
Investing cash flow-$1.80B-$159.40M-$111.08M-$337.38M-$1.08B-$136.76M-$16.80M-$18.42M-$33.16M-$11.91M
Financing cash flow-$2.43B-$1.43B$292.13M$1.13B$3.50B$943.89M$2.12B$1.41B$1.65B$880.76M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY44.2%7.0%18.9%-27.5%138.8%-0.1%44.9%-17.7%53.4%18.5%
Net income growth, YoY13.7%-2.2%183.1%-59.0%168.7%2.2%161.1%-25.1%-31.9%477.0%
Net margin9.4%11.9%13.1%5.5%9.7%8.6%8.4%4.7%5.1%11.6%
Free cash flow margin--------117.8%-128.1%-66.1%
Return on equity12.3%6.8%10.6%4.4%10.7%6.2%8.0%4.1%5.3%8.1%
Return on assets1.8%1.9%1.9%0.8%1.9%1.0%1.2%0.6%0.9%1.9%

Source: XBRL data Ares Management Corporation files with the SEC, latest filing dated Aug 7, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

ARES peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
ARES$5.99B+24.0%$636.35M10.6%$44.16B
BX$16.11B+17.2%$3.52B21.8%$89.94B
KKR$21.31B+31.1%$3.15B14.8%$88.24B
APO$30.82B+12.2%-$918.00M-3.0%$69.25B
AMP$20.14B+8.8%$4.16B20.7%$44.22B
TROW$7.70B+6.9%$2.19B28.4%$23.19B
TPG$5.17B+21.6%$268.72M5.2%$17.99B
BEN$9.32B+7.9%$812.80M8.7%$16.37B

ARES FAQ

6 questions
  • What is ARES revenue?
    Ares Management Corporation (ARES) reported $5.99B of revenue for the twelve months ended Jun 30, 2026. That is up 24.0% from the year before. Revenue for fiscal 2025 was $5.60B.
  • Is ARES profitable?
    Yes. Ares Management Corporation earned $636.35M in net income for the twelve months ended Jun 30, 2026, a net margin of 10.6%.
  • How much cash and debt does ARES have?
    Ares Management Corporation reported $557.09M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is ARES revenue growing?
    Ares Management Corporation's revenue changed +44.2% in fiscal 2025, to $5.60B. Its compound annual growth rate was +26.0% over 5 years and +21.3% over 10 years.
  • When did ARES last report financial results?
    The latest statements here come from Ares Management Corporation's 10-Q filed on Aug 7, 2026, covering the period ended Jun 30, 2026.
  • Where does this ARES financial data come from?
    Quantisnow builds these statements from the structured XBRL data Ares Management Corporation files with the SEC. It is provided for information only and is not investment advice.