Ares Management financials
$118.97+0.53%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.60B | $3.88B | $3.63B | $3.06B | $4.21B | $1.76B | $1.77B | $958.5M |
| Gross profit | $5.60B | $3.88B | $3.63B | $3.06B | $4.21B | $1.76B | $1.77B | $958.5M |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating income | $892.7M | $946.1M | $834.0M | $306.4M | $802.0M | $313.6M | $302.6M | $88.1M |
| Net income | $383.5M | $410.2M | $474.3M | $167.5M | $58.8M | $120.0M | $119.5M | $28.4M |
| Net margin | 6.8% | 10.6% | 13.1% | 5.5% | 1.4% | 6.8% | 6.8% | 3.0% |
| Diluted EPS | $1.76 | $2.07 | $2.42 | $0.95 | $2.15 | $0.87 | $1.06 | $0.30 |
| EBITDA | $1.14B | $1.10B | $1.07B | $647.7M | $915.3M | $354.8M | $342.1M | $116.6M |
| Operating cash flow | $3.27B | $2.79B | -$233.3M | -$734.1M | -$2.60B | -$425.7M | -$2.08B | — |
| Free cash flow | $3.19B | $2.70B | -$300.4M | -$769.9M | -$2.62B | -$441.6M | -$2.10B | — |
| Diluted shares | 217.4M | 198.1M | 195.8M | 175.5M | 180.1M | 149.5M | 119.9M | 96.0M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $1.45B | $2.74B | $1.50B | $1.11B | $1.39B | $1.06B |
| Short-term investments | $5.51B | $17.38B | $19.23B | $17.18B | $16.50B | $12.56B |
| Total debt | $13.55B | $12.51B | $15.44B | $2.44B | $12.29B | $10.72B |
| Total assets | $28.63B | $24.88B | $24.73B | $22.00B | $21.61B | $15.17B |
| Total liabilities | $19.93B | $17.49B | $19.71B | $17.10B | $16.69B | $12.60B |
| Shareholders' equity | $4.28B | $3.54B | $1.89B | $1.59B | $1.83B | $2.47B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology