Ares Management (ARES) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Ares Management

NYSE•Financial Services•Asset Management

$125.32+1.11(0.01%)After hours

Market Cap

$28.36B

P/E

28.1x

P/S

4.7x

P/B

7.1x

Ares Management Corporation operates as an alternative asset manager. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies. The company's Private Equity Group segment specializes in early venture, turnaround, mid venture, late venture, recapitalization, growth capital, middle market, mezzanine, distressed and growth buyouts. The firm seeks to invest in healthcare, services, energy, industrials and consumer. The firm seeks to takes majority, minority and shared-control investments primarily in under-capitalized companies in North America, Europe, Asia Pacific, Southeast Asia and Australia. Its Real Estate Group segment invests in new developments and the repositioning of assets, with a focus on control or majority-control investments; and originates and invests in a range of self-originated financing opportunities for middle-market owners and operators of commercial real estate. The firm prefers to invest between $1 million and $500 million in companies having EBITDA between $10 million and $250 million and debt investment value between $10 million and $100 million. Ares Management Corporation was founded in 1997 and is based in Los Angeles, California with additional offices in North America, Europe and Asia.

How this company scores

GoodMetricSide Score: 69/100

Strongest: Profitability (25/25); weakest: Balance Sheet & Red Flags (8/25).

Profitability25/25

Growth22/25

Balance Sheet & Red Flags8/25

Cash & Earnings Quality14/25

Strengths

Growing revenueStrong marginsHigh ROERising earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 28.1x5y range 24.4x – 84.4x

Currently below its 20-quarter median.

P/S · 4.7x5y range 4.1x – 9.3x

Currently below its 20-quarter median.

P/B · 7.1x5y range 6.0x – 17.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Leverage Risk

Watch

D/E ratio of 2.9 is elevated. Watch for further debt accumulation.

Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Price & Volume

Market Cap $28.36B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $5.99B
Q. Revenue: $1.43B
TTM EBITDA: $1.08B
TTM Op. Income: $1.08B
Q. Op. Income: $248.63M
TTM Net Income: $1.01B
Q. Net Income: $241.72M
EPS: N/A
Shares Out.: $226.30M

$5.99B in TTM revenue grew 24.0% YoY, reaching $1.43B last quarter. TTM EBITDA of $1.08B and TTM operating income of $1.08B show growth is flowing through to the bottom line. TTM net income of $1.01B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 17.4%
Op. Margin: 17.4%
Net Margin: 16.9%

Op. margin of 17.4% is up 1.7% YoY — cost efficiency is improving. Net margin at 16.9% Over the past year, operating margin is up 11% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 28.1x
P/S Ratio: 4.7x
P/B Ratio: 7.1x

At 28.1x P/E, the stock trades within typical market levels. P/S of 4.7x and P/B of 7.1x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 41% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $29.63B
Cash: $1.85B
Long-Term Debt: $11.53B
Book Value: $3.97B
D/E Ratio: 2.9
Debt/EBITDA: 46.4

With $29.63B in assets and $11.53B in long-term debt, D/E is 2.9and book value is $3.97B — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has risen for 3 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-351.44M
TTM Free Cash Flow: $836.15M
FCF Margin: 14.0%
FCF / Net Income: 0.8

TTM FCF of $836.15M on $-351.44M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 3 consecutive quarters — a weakening trend.