balance equationreview2024-12-31
Difference 574196000 exceeds tolerance 24884308.000. Presentation or filing-vintage differences need review.
Revenue
$4.76B
Fiscal year ended 2025-12-31Net income
$527.36M
Fiscal year ended 2025-12-31Total assets
$28.63B
Fiscal year ended 2025-12-31Ares Management Corp (ARES) reported revenue of $4.76B and net income of $527.36M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from Ares Management Corp’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Investment Advice.
Banks, brokers and insurers present a top line that is not comparable with an operating company’s revenue: it is reported net of interest expense, or as premiums earned, depending on the filer. The figures are the filer’s own and are traceable to the filing; the comparison across classes is what does not hold.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.76B | $3.69B | $3.24B | $2.88B | $2.29B | $1.75B | $1.43B | $1.22B | $1.09B | $964.80M |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $527.36M | $463.74M | $474.33M | $167.54M | $408.84M | $152.14M | $148.88M | $57.02M | $76.18M | $111.81M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Pretax income | $1.29B | $1.28B | $1.33B | $510.81M | $1.07B | $379.48M | $425.18M | $184.34M | $149.86M | $297.92M |
| Income tax expense | $198.54M | $164.62M | $172.97M | $71.89M | $147.38M | $54.99M | $52.38M | $32.20M | -$23.05M | $11.02M |
| Diluted EPS | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling, general & administrative | $996.08M | $736.50M | $660.15M | $695.26M | $444.18M | $259.00M | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $110.25M | $118.93M | Unavailable |
| Total assets | $28.63B | $24.88B | $24.73B | $22.00B | $21.61B | $15.17B | $12.01B | $10.15B | $8.56B | $5.83B |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $19.93B | $17.49B | $19.71B | $17.10B | $16.69B | $12.60B | $10.16B | $8.76B | $7.10B | $4.45B |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $8.68B | $6.82B | $4.47B | $3.80B | $3.81B | $2.47B | $1.86B | $1.39B | $1.44B | $1.38B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $23.50M |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | $3.45B | $1.16B | $1.12B | $999.66M | $787.97M | $371.05M | $143.86M | $143.79M | $143.90M | $143.72M |
| Long-term debt | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.27B | $2.79B | -$233.26M | -$734.11M | -$2.60B | -$425.66M | -$2.08B | -$1.42B | -$1.86B | -$625.66M |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $18.42M | $33.16M | $11.91M |
| 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 | $943.90M | $2.12B | $1.41B | $1.65B | $880.76M |
| Net change in cash | -$1.02B | $1.16B | -$41.71M | $46.33M | -$196.16M | $401.43M | $28.14M | -$8.68M | -$223.93M | Unavailable |
| Stock-based compensation | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common dividends paid | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | -$637.57M |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | -66.1% |
| SBC / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | 28.9% | 14.0% | 12.4% | 25.8% | 30.5% | 22.4% | 17.6% | 12.3% | 12.5% | Unavailable |
| Net margin | 11.1% | 12.6% | 14.7% | 5.8% | 17.9% | 8.7% | 10.4% | 4.7% | 7.0% | 11.6% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 1.2% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 15.4% | 12.9% | 13.0% | 14.1% | 13.8% | 14.5% | 12.3% | 17.5% | -15.4% | 3.7% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open ARES in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-07View SEC filing
10-Q · Filed 2026-05-08View SEC filing
10-K · Filed 2026-02-25View SEC filing
10-Q · Filed 2025-11-06View SEC filing
10-Q · Filed 2025-08-08View SEC filing
10-Q · Filed 2025-05-12View SEC filing
Reconciliation checks needing review
7 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.
balance equationreview2023-12-31
Difference 547036000 exceeds tolerance 24730500.000. Presentation or filing-vintage differences need review.
balance equationreview2022-12-31
Difference 1106411000 exceeds tolerance 22002839.000. Presentation or filing-vintage differences need review.
balance equationreview2021-12-31
Difference 1096008000 exceeds tolerance 21605164.000. Presentation or filing-vintage differences need review.
balance equationreview2020-12-31
Difference 100366000 exceeds tolerance 15168992.000. Presentation or filing-vintage differences need review.
balance equationreview2017-12-31
Difference 22611000 exceeds tolerance 8563522.000. Presentation or filing-vintage differences need review.
balance equationreview2016-12-31
Difference 23505000 exceeds tolerance 5829712.000. Presentation or filing-vintage differences need review.