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Ares Management Corporation (ARES)
NYSE: ARES · Real-Time Price · USD
141.25
+1.02 (0.73%)
Aug 21, 2026, 4:00 PM EDT - Market closed

Ares Management Cash Flow Statement

Millions USD. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Net Income
150.64142.5954.25288.88137.0647.17177.32118.4694.9473.03173.9561.82144.5194.04117.49-35.5539.7345.86124.0984.73
Depreciation & Amortization
60.4559.6963.4865.9663.1848.2330.7846.0136.2536.64-41.16105.5242.9945.6643.55219.3440.3338.1341.5536.67
Asset Writedown & Restructuring Costs
--2.3---8.9---78.7---------
Loss (Gain) From Sale of Investments
---866.45----335.43----353.44----62.46----166.28-
Stock-Based Compensation
--740.55---352.85---255.97---200.39---237.19-
Other Operating Activities
463.66303.631,618214.96177.72338.441,570241.93225.43317.14-969.81192.03172.76189.38-1,30527.31-18.86110.38-3,088143.05
Change in Accounts Receivable
---37.8----188.17----48.86----20.61----745.02-
Change in Accounts Payable
--91.96---148.38---27.86----51.69---125.17-
Change in Other Net Operating Assets
-356.97252.51-529.44313.82-156.69591.4-121.58-77.05-3.6339.05-632.1723.57153.7549.66-240.4886.12-95.52127.551,031-1,163
Operating Cash Flow
-351.45406.52-483.691,341415.71,994807.62841.32432.17710.05-560.05318.27-699.05707.57-190.5124.59-792.35224.15-752.29-774.71
Operating Cash Flow Growth (YoY)
--79.62%-59.36%-3.81%180.86%-164.34%-0.35%-1194.15%-215.67%------

Investing Activities

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Capital Expenditures
-33.05-15.64-15.79-11.49-22.92-21.98-9.31-26.89-29.24-26.07-23.01-23.05-12.25-8.88-7.41-9.94-9.92-8.52-12.07-7.2
Cash Acquisitions
-0.158.48-5.29-3.46--1,723-54.21-5.68--8-43.9---0.080.02-0.05-301.620.02-279.28
Investing Cash Flow
-33.2-7.17-21.08-14.95-22.92-1,745-63.52-32.58-29.24-34.07-66.9-23.05-12.25-8.88-7.33-9.92-9.98-310.15-12.06-286.48

Financing Activities

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Long-Term Debt Issued
-1,729---1,298---326.95---247.91---1,398--
Total Debt Issued
1,2741,7291,750824.7539.891,2981,012476.41490.19326.952,012254.2782.55247.91460546.5604.871,3981,0071,114
Long-Term Debt Repaid
--1,451----1,405----631.11----247.33----962.46--
Total Debt Repaid
-639.82-1,451-795.13-1,196-722.7-1,405-1,684-970.8-1,297-631.11-686.49-282.7-397.34-247.33-208.95-264.4195.58-962.46-155.84-15.18
Net Debt Issued (Repaid)
634.14277.7954.56-371.38-182.82-107.28-672.19-494.39-807.25-304.171,325-28.5385.210.59251.05282.1800.45435.78851.21,099
Issuance of Common Stock
-------52.84354.41.515.5327.2943.969.186.675.895.33.359.8113.38
Repurchase of Common Stock
-46.06-318.43-11.25-511.37-27.03-396.72-16.03-8.54-16.35-186.73-503.74-26.58-20.14-652.42-7.09-4.74-6.46-183.03-4.81-120.45
Common Dividends Paid
--------583.62-195.23-190.5-153.68--258.87-251.63--201.85-194.48-211.89-84.49-82.31
Dividends Paid
--522.75-459.75---445.09--583.62-195.23-190.5-153.68--258.87-251.63--201.85-194.48-211.89-84.49-82.31
Other Financing Activities
-217.23270.5759.3-342.35-357.35-228.64-292.4249.49205.5313.26-39.53-216.3573.4973.14-49.6630.2117.6548.8338.94-111.34
Financing Cash Flow
370.86-292.91542.86-1,225-567.2-1,178478.16-784.22-458.9-666.63633.73-244.1723.64-821.14200.98111.59722.4693.04810.64798.11

Net Cash Flow

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Foreign Exchange Rate Adjustments
2.1-26.56-45.86-113.6865.5438.77-64.4241.18-5.92-11.2929.67-16.12-7.764.7125.35-17.63-13.31-4.651.66-24.12
Net Cash Flow
-11.6979.88-7.77-12.99-108.88-889.441,15865.69-61.89-1.9436.45354.58-117.7428.49108.63-93.182.3947.95-287.2

Free Cash Flow

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Free Cash Flow
-384.5390.87-499.481,329392.781,972798.31814.43402.93683.97-583.06295.22-711.3698.7-197.9214.65-802.27215.63-764.37-781.91
Free Cash Flow Growth (YoY)
--80.18%-63.21%-2.52%188.35%-175.87%--2.11%-1914.75%-224.03%------
Free Cash Flow Margin
-26.91%27.99%-33.19%80.19%29.09%181.14%63.41%72.09%51.09%96.69%-55.32%43.98%-65.06%85.90%-21.11%1.83%-133.39%30.16%-58.34%-82.42%
Free Cash Flow Per Share
-1.701.75-2.266.041.799.423.714.062.053.55-2.901.58-3.673.90-1.040.08-4.581.24-4.05-4.19
Levered Free Cash Flow
501.75926.56-192.94897.31119.951,187-206.01368.9244.96353.11-575172.07603.47174.89-271.52307.07288.11-33.79389.86165.6
Unlevered Free Cash Flow
599.471,045-76.631,024238.211,305-51.91513.25204.41506.66-423.05314.16733.94288.44-168.07388.99348.4122.25438.67211.29

Additional Metrics

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Cash Interest Paid
--675.8---866.76---722.64---320.33---205.09-
Cash Income Tax Paid
--91.33---107.57---62.01---104.86---22.79-
Change in Working Capital
-356.97252.51-475.28313.82-156.69591.4-161.37-77.05-3.6339.05-653.1723.57153.7549.66-312.7886.12-95.52127.55411.31-1,163
SEC Filings: 10-K · 10-Q