Ares Management Corporation (ARES)
NYSE: ARES · Real-Time Price · USD
141.32
+1.09 (0.78%)
Aug 21, 2026, 3:43 PM EDT - Market open
Ares Management Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Net Income | 636.35 | 527.36 | 463.74 | 474.33 | 167.54 | 408.84 |
Depreciation & Amortization | 249.58 | 240.85 | 149.68 | 153.01 | 159.74 | 113.29 |
Asset Writedown & Restructuring Costs | 2.3 | 2.3 | 8.9 | 78.7 | 181.6 | - |
Loss (Gain) From Sale of Investments | -866.45 | -866.45 | -335.43 | -353.44 | -62.46 | -166.28 |
Stock-Based Compensation | 740.55 | 740.55 | 352.85 | 255.97 | 200.39 | 237.19 |
Other Operating Activities | 2,600 | 2,349 | 2,354 | -415.63 | -1,186 | -2,721 |
Change in Accounts Receivable | -37.8 | -37.8 | -188.17 | -48.86 | -20.61 | -745.02 |
Change in Accounts Payable | 91.96 | 91.96 | 148.38 | 27.86 | -51.69 | 125.17 |
Change in Other Net Operating Assets | -320.09 | 219.08 | -163.2 | -405.2 | -122.34 | 152.02 |
Operating Cash Flow | 912.13 | 3,267 | 2,791 | -233.26 | -734.11 | -2,596 |
Operating Cash Flow Growth | -77.53% | 17.05% | - | - | - | - |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Capital Expenditures | -75.98 | -72.18 | -91.51 | -67.18 | -35.8 | -27.23 |
Cash Acquisitions | -0.42 | -1,731 | -67.9 | -43.9 | -301.58 | -1,057 |
Investing Cash Flow | -76.39 | -1,804 | -159.4 | -111.08 | -337.38 | -1,085 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Long-Term Debt Issued | - | 4,412 | 2,305 | 3,296 | 3,010 | 3,382 |
Long-Term Debt Repaid | - | -4,119 | -4,583 | -1,614 | -1,240 | -548.75 |
Net Debt Issued (Repaid) | 1,495 | 293.08 | -2,278 | 1,682 | 1,769 | 2,833 |
Issuance of Common Stock | - | - | 408.64 | 85.96 | 21.21 | 864.65 |
Repurchase of Common Stock | -887.1 | -946.37 | -227.53 | -1,203 | -201.31 | -226.1 |
Preferred Dividends Paid | - | - | - | - | - | -10.85 |
Common Dividends Paid | -163.25 | - | -783.17 | -599.93 | -447.63 | -324.31 |
Dividends Paid | -1,920 | -1,757 | -783.17 | -599.93 | -447.63 | -335.16 |
Other Financing Activities | 707.74 | -17.19 | -10.31 | 326.54 | -13.57 | 677.06 |
Financing Cash Flow | -604.3 | -2,427 | -1,432 | 292.13 | 1,128 | 3,504 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Foreign Exchange Rate Adjustments | -184 | -55.23 | -40.45 | 10.5 | -10.24 | -19.1 |
Net Cash Flow | 47.44 | -1,019 | 1,160 | -41.71 | 46.33 | -196.16 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Free Cash Flow | 836.15 | 3,195 | 2,700 | -300.44 | -769.91 | -2,623 |
Free Cash Flow Growth | -78.98% | 18.34% | - | - | - | - |
Free Cash Flow Margin | 13.96% | 57.04% | 69.49% | -8.27% | -25.20% | -62.28% |
Free Cash Flow Per Share | 3.75 | 14.70 | 13.63 | -1.53 | -4.39 | -14.56 |
Levered Free Cash Flow | 2,160 | 2,017 | 560.97 | 380.48 | 108.01 | 2,635 |
Unlevered Free Cash Flow | 2,619 | 2,497 | 1,172 | 918.53 | 409.71 | 2,820 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 Interest Paid | 675.8 | 675.8 | 866.76 | 722.64 | 320.33 | 205.09 |
Cash Income Tax Paid | 91.33 | 91.33 | 107.57 | 62.01 | 104.86 | 22.79 |
Change in Working Capital | -265.93 | 273.24 | -202.99 | -426.19 | -194.63 | -467.83 |