Growth & profitability
- Revenue has grown 26.0% per year over the past 5 years.
- Net income has grown slower than revenue (22.9% vs 26.0% per year).
ARES Financials Ares Management
12 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $5.6B | $426M | 0.0% | 0.0% | — | — | $489M |
| 2024 | $3.9B | $441M | 0.0% | 0.0% | — | — | $1.5B |
| 2023 | $3.6B | $474M | 0.0% | 0.0% | — | — | $348M |
| 2022 | $3.1B | $168M | 0.0% | 0.0% | — | — | $390M |
| 2021 | $4.2B | $387M | 0.0% | 0.0% | — | — | $344M |
| 2020 | $1.8B | $152M | 0.0% | 0.0% | — | — | $540M |
| 2019 | $1.8B | $149M | 0.0% | 0.0% | — | — | $138M |
| 2018 | $958M | $57M | 0.0% | 0.0% | -$1.4B | — | $110M |
| 2017 | $1.5B | $76M | 0.0% | 0.0% | -$1.9B | — | $119M |
| 2016 | — | $112M | — | — | -$638M | — | $343M |
| 2015 | — | $19M | — | — | -$539M | — | — |
| 2014 | — | $35M | — | — | $1.5B | — | — |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $1.4B | $143M | 0.0% | 0.0% | — | — | $569M |
| Dec '25 | $1.5B | $54M | 0.0% | 0.0% | — | — | $489M |
| Sep '25 | $1.7B | $289M | 0.0% | 0.0% | — | — | $497M |
| Jun '25 | $1.4B | $137M | 0.0% | 0.0% | — | — | $510M |
| Mar '25 | $1.1B | $47M | 0.0% | 0.0% | — | — | $619M |
| Dec '24 | $1.3B | $177M | 0.0% | 0.0% | — | — | $1.5B |
| Sep '24 | $1.1B | $118M | 0.0% | 0.0% | — | — | $350M |
| Jun '24 | $789M | $95M | 0.0% | 0.0% | — | — | $284M |
| Mar '24 | $707M | $73M | 0.0% | 0.0% | — | — | $346M |
| Dec '23 | $1.1B | — | 0.0% | 0.0% | — | — | $348M |
| Sep '23 | $671M | — | 0.0% | 0.0% | — | — | $312M |
| Jun '23 | $1.1B | — | 0.0% | 0.0% | — | — | $277M |
| Mar '23 | $813M | — | 0.0% | 0.0% | — | — | $272M |
| Dec '22 | $938M | $117M | 0.0% | 0.0% | — | — | $390M |
| Sep '22 | $801M | -$36M | 0.0% | 0.0% | — | — | $362M |
| Jun '22 | $601M | $40M | 0.0% | 0.0% | — | — | $253M |
| Mar '22 | $715M | $46M | 0.0% | 0.0% | — | — | $346M |
| Dec '21 | $1.3B | $124M | 0.0% | 0.0% | — | — | $344M |
| Sep '21 | $949M | $85M | 0.0% | 0.0% | — | — | $296M |
| Jun '21 | $1.3B | $142M | 0.0% | 0.0% | — | — | $583M |
Valuation over time
How the market has priced ARES against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has fallen from 156.0× (Mar '23) to 82.7× (Jun '26).
- The price-to-sales ratio has fallen from 8.6× (Mar '23) to 6.3× (Jun '26).
P/E
P/S
Frequently asked questions
Is ARES growing its revenue and profit?
Over the past 5 years, Ares Management's revenue has grown 26.0% per year, and net income grown 22.9% per year. These are computed facts, not advice.
How much debt does ARES have?
As of FY2025, Ares Management reported — of total debt against $489M of cash.
What is ARES's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin 7.6%.
What is ARES's P/E ratio?
As of Jun '26, Ares Management traded at a price-to-earnings ratio of about 82.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.