Ares Management (ARES)
Financials · $28.1B market cap · SEC CIK 0001176948
fundamentals score out of 100
Next reports on Nov 2, 2026, before the open, with analysts expecting $1.36 in earnings per share.
The case for ARES
- Revenue up 24.0% on the year.
- Pays a 2.8% dividend while you wait.
- Has compounded revenue at 26.0% a year over five years.
- Return on equity of 15%.
The case against
- Pricey at 44.1× earnings, against a long-run market average nearer 20×.
- Down 30.8% over the past year.
- Swings harder than the market (beta 1.54).
- Dividend takes 302% of earnings, leaving little cushion.
- Profitability is weak (40/100): return on equity 15%, net margin 10.6%.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 24 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 88 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 40 |
| Momentumhow the price has behaved lately | 30 |
| Stabilityhow violently it moves, what it owes and what it pays you | 31 |
- Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
- Each factor except momentum is half fixed thresholds, half rank among the 74 Financials companies.
Key numbers
| Price / earnings | 44.1× |
|---|---|
| Price / book | 9.25× |
| Price / sales | 4.7× |
| Revenue growth (YoY) | +24.0% |
| EPS growth (YoY) | +23.5% |
| Gross margin | — |
| Operating margin | 19% |
| Net margin | 11% |
| Return on equity | 15% |
| Debt / equity | 3.54× |
| Current ratio | 0.28 |
| Dividend yield | 2.82% |
| Beta | 1.54 |
| 52-week range | $95.80 – $186.85 |
| Position in that range | 32% of the way up |
| 3-month return | -2.1% |
| 1-year return | -30.8% |
Five years of financials, as filed
Pulled from Ares Management's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $5.6B | $3.9B | $3.6B | $3.1B | $4.2B |
| Net income | $426M | $441M | $474M | $168M | $387M |
| Operating cash flow | $3.3B | $2.8B | -$233M | -$734M | -$2.6B |
| Total assets | $28.6B | $24.9B | $24.7B | $22.0B | $21.6B |
| Total liabilities | $19.9B | $17.5B | $19.7B | $17.1B | $16.7B |
| Shareholder equity | $4.3B | $3.5B | $1.9B | $1.6B | $1.8B |
| Cash | $489M | $1.5B | $348M | $390M | $344M |
| Net margin | 7.6% | 11.4% | 13.1% | 5.5% | 9.2% |
What Ares Management says it does
Overview Ares is a leading global alternative investment manager with $622.5 billion of assets under management and over 4,250 employees in over 55 o ffices 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…
Risk factors ARES lists in its 10-K
- Perpetual Capital Assets Under Management
- Available Capital and Assets Under Management Not Yet Paying Fees
- Incentive Eligible Assets Under Management and Incentive Generating Assets Under Management
- Components of Consolidated Results of Operations
- Principal Investment Income (Loss)
- Administrative, Transaction and Other Fees
- General, Administrative and Other Expenses
- Net Realized and Unrealized Gains (Losses) on Investments
- Net Realized and Unrealized Gains (Losses) on Investments of Consolidated Funds
- Interest and Other Income of Consolidated Funds
- Interest Expense of Consolidated Funds
- Redeemable and Non-Controlling Interests
- Consolidation and Deconsolidation of Ares Funds
- Net income attributable to Ares Operating Group entities