Ares Management Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	-	2,735	1,498	1,115	1,393
Trading Asset Securities	-	-	-	-	5.68
Cash & Short-Term Investments	1,500	2,735	1,498	1,115	1,399
Cash Growth	-45.17%	82.63%	34.38%	-20.30%	31.49%
Accounts Receivable	-	1,252	1,084	947.36	1,068
Other Receivables	-	11.74	12.63	5.25	3.08
Receivables	-	1,263	1,096	952.61	1,071
Other Current Assets	-	251.28	178.15	136.35	86.89
Total Current Assets	-	4,250	2,772	2,204	2,556
Property, Plant & Equipment	-	688.99	371.55	235.63	239.92
Long-Term Investments	-	17,383	19,227	17,179	16,501
Goodwill	-	1,163	1,124	999.66	787.97
Other Intangible Assets	-	975.83	1,058	1,208	1,423
Long-Term Deferred Tax Assets	-	241.89	21.55	68.93	39.4
Long-Term Deferred Charges	-	4.86	4.21	5.51	5.27
Other Long-Term Assets	-	177.49	152.11	101.94	52.37
Total Assets	-	24,884	24,731	22,003	21,605
Accounts Payable	-	1,012	894.1	695.15	1,479
Accrued Expenses	-	2,897	2,835	2,914	2,567
Current Portion of Long-Term Debt	-	275	125.24	93.05	-
Current Portion of Leases	-	56.07	-	-	-
Other Current Liabilities	-	409.98	208.28	141.75	121.8
Total Current Liabilities	-	4,650	4,063	3,844	4,168
Long-Term Debt	-	12,231	15,311	13,051	12,289
Long-Term Leases	-	585.79	319.57	190.62	206.01
Long-Term Unearned Revenue	-	5.77	9.59	8.7	10.16
Other Long-Term Liabilities	-	13.66	6	4.3	21.36
Total Liabilities	-	17,486	19,709	17,098	16,695
Common Stock	-	3.13	3.08	2.95	2.91
Additional Paid-In Capital	-	2,937	2,391	1,971	1,914
Retained Earnings	-	-837.29	-495.08	-369.48	-89.38
Comprehensive Income & Other	-	-17.76	-5.63	-14.99	-1.86
Total Common Equity	3,013	2,085	1,893	1,589	1,825
Minority Interest	-	3,855	3,128	3,316	3,085
Shareholders' Equity	8,632	7,398	5,021	4,905	4,910
Total Liabilities & Equity	-	24,884	24,731	22,003	21,605
Total Debt	12,726	13,148	15,756	13,334	12,495
Net Cash (Debt)	-11,226	-10,413	-14,258	-12,220	-11,097
Net Cash Per Share	-51.65	-52.57	-72.83	-69.62	-61.61
Filing Date Shares Outstanding	220.34	207.6	193.37	179.51	174.65
Total Common Shares Outstanding	220.32	203.36	190.56	177.38	171.84
Working Capital	-	-399.6	-1,291	-1,640	-1,612
Book Value Per Share	13.68	10.25	9.94	8.96	10.62
Tangible Book Value	-2,590	-53.59	-289.07	-618.64	-385.56
Tangible Book Value Per Share	-11.76	-0.26	-1.52	-3.49	-2.24
Machinery	-	62.92	52.68	41.55	31.96
Leasehold Improvements	-	166.25	134.27	84.82	74.68

Updated Feb 5, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q