Ares Management Corporation (ARES) — Financial statements
Income statement, balance sheet, and cash flow for Ares Management Corporation — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 6,470↑66.6% | 3,885↑7.0% | 3,632↑18.9% | 3,055↓27.5% | 4,212 | |
| Cost of Revenue | 1,631↓5.8% | 1,732↑16.5% | 1,487↓0.8% | 1,499↑28.9% | 1,163 | |
| Gross Profit | 4,839↑124.8% | 2,153↑0.4% | 2,145↑37.8% | 1,557↓48.9% | 3,049 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 0.00↓100.0% | 1,186↓6.4% | 1,268↑4.4% | 1,214↓44.4% | 2,185 | |
| Selling & Marketing Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| SG&A Expenses | 0.00↓100.0% | 1,186↓6.4% | 1,268↑4.4% | 1,214↓44.4% | 2,185 | |
| Other Expenses | 3,078↑14641.4% | 21↓52.0% | 43↑19.5% | 36↓41.7% | 62 | |
| Operating Expenses | 3,078↑155.0% | 1,207↓7.9% | 1,311↑4.9% | 1,250↓44.4% | 2,247 | |
| Total Costs & Expenses | 4,709↑60.2% | 2,939↑5.0% | 2,798↑1.8% | 2,749↓19.4% | 3,410 | |
| Operating Results | ||||||
| Operating Income | 1,761↑86.2% | 946↑13.4% | 834↑172.2% | 306↓61.8% | 802 | |
| Depreciation & Amortization | 242↑52.6% | 159↓31.6% | 232↓32.1% | 341↑201.3% | 113 | |
| EBITDA | 2,296↓4.8% | 2,412↓0.6% | 2,426↑81.7% | 1,335↓9.4% | 1,474 | |
| EBIT | 2,054↓8.8% | 2,254↑2.7% | 2,194↑120.8% | 994↓27.0% | 1,360 | |
| Interest & Other Income | ||||||
| Net Interest Income | -97↓4988.9% | -2↓101.2% | 154↑36.0% | 113↓25.9% | 153 | |
| Interest Income | 671↓31.3% | 976↓3.8% | 1,015↑70.3% | 596↑33.1% | 448 | |
| Interest Expense | 767↓21.6% | 978↑13.6% | 861↑78.3% | 483↑63.7% | 295 | |
| Non-Operating Income | -293↑77.6% | -1,308↑3.8% | -1,360↓97.9% | -687↓23.0% | -558 | |
| Other Income / Expenses | -474↓244.1% | 329↓34.0% | 499↑144.1% | 204↓22.5% | 264 | |
| Income Before Tax | 1,287↑0.9% | 1,275↓4.3% | 1,333↑161.0% | 511↓52.1% | 1,066 | |
| Income Tax Expense | 199↑20.6% | 165↓4.8% | 173↑140.6% | 72↓51.2% | 147 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 1,088↓2.0% | 1,111↓4.3% | 1,160↑164.3% | 439↓52.2% | 918 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 527↑13.7% | 464↓2.2% | 474↑183.1% | 168↓59.0% | 409 | |
| Bottom-Line Net Income | 426↑3.9% | 410↓13.5% | 474↑209.1% | 153↓60.3% | 387 | |
| EPS (Basic) | 1.96↓5.3% | 2.07↓15.9% | 2.46↑182.8% | 0.87↓61.3% | 2.25 | |
| EPS (Diluted) | 1.96↓5.3% | 2.07↓14.5% | 2.42↑178.2% | 0.87↓59.5% | 2.15 | |
| Weighted Average Shares | 217↑9.7% | 198↑7.3% | 185↑5.1% | 176↑7.2% | 164 | |
| Weighted Average Diluted Shares | 217↑9.7% | 198↑1.2% | 196↑11.5% | 176↓2.6% | 180 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.