Ares Management Corporation (ARES)

Ares Management Income Statement

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

Fiscal Quarter	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Period Ending	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021
Operating Revenue	1,426	1,396	1,508	1,640	1,339	1,067	1,258	1,122	759.22	700.31	1,056	661.92	1,086	790.6	940.97	789.71	605.82	706.67	1,297	934.47
Other Revenue	2.29	0.48	-2.79	17.98	10.96	22	0.88	8.04	29.46	7.05	-2.47	9.34	6.89	22.76	-3.24	11.58	-4.39	8.33	12.96	14.25
Revenue	1,429	1,396	1,505	1,658	1,350	1,089	1,259	1,130	788.68	707.36	1,054	671.26	1,093	813.36	937.72	801.29	601.43	715	1,310	948.72
Revenue Growth (YoY)	5.81%	28.25%	19.53%	46.73%	71.19%	53.92%	19.45%	68.30%	-27.86%	-13.03%	12.40%	-16.23%	81.78%	13.76%	-28.43%	-15.54%	-53.55%	8.60%	99.11%	93.67%
Cost of Revenue	892.35	892.54	941.43	1,021	834.11	757.76	750.67	650.14	385.44	356.92	590.89	341.47	682.73	471.8	543.51	471.66	357.36	438.65	823.29	638.52
Gross Profit	536.26	503.89	563.49	636.15	516.02	331.05	508.33	479.6	403.24	350.45	463.09	329.79	410.56	341.57	394.22	329.63	244.07	276.35	486.88	310.2
Selling, General & Admin	259.39	246.48	359.77	236.69	259.16	200.87	199.42	199.31	173.67	176.07	174.03	153.21	149.31	156.2	-40.74	329.75	135.52	125.04	189.62	146.56
Operating Expenses	259.39	246.48	359.77	236.69	259.16	200.87	199.42	199.31	173.67	176.07	174.03	153.21	149.31	156.2	-40.74	329.75	135.52	125.04	189.62	146.56
Operating Income	276.87	257.42	203.73	399.46	256.86	130.18	308.91	280.29	229.57	174.37	289.06	176.58	261.25	185.37	434.96	-0.12	108.55	151.32	297.26	163.65
Interest Expense	-156.35	-189.56	-186.1	-203.02	-189.21	-189.13	-246.57	-230.93	-255.11	-245.69	-243.12	-227.34	-208.74	-181.67	-165.52	-131.07	-96.47	-89.66	-78.11	-73.1
Interest & Investment Income	65.65	112.54	130.87	144.47	169.66	177.73	224.14	242.23	247.38	262.66	290.55	260.35	237.14	226.78	590.86	160.5	118.85	121.79	107.12	105.4
Currency Exchange Gain (Loss)	-	-	-17	-	-	-	-0.6	-	-	-	-9.1	-	-	-	-13.5	-	-	-	-0.8	1.3
Other Non Operating Income (Expenses)	-7.49	1.36	-283.55	10.14	-21.12	-10.81	20.7	-18.81	-0.94	0.27	14.99	5.74	-5.89	-0.92	-379.66	2.6	5.81	1.78	-15.48	-6.95
EBT Excluding Unusual Items	178.68	181.76	-152.05	351.04	216.18	107.96	306.58	272.78	220.9	191.61	342.37	215.34	283.76	229.55	467.15	31.92	136.74	185.23	309.99	190.3
Merger & Restructuring Charges	-	-1.24	35.3	-	-	-33.7	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Sale of Investments	249.11	137.41	260.85	368.68	140.46	88.67	123.97	59.76	101.86	44.94	146.33	77.82	103.91	12.22	59.32	4.4	-9.68	24.08	32.94	42.58
Asset Writedown	-	-	-2.3	-	-	-	-8.9	-	-	-	-0.1	-65.7	-5.1	-	-181.6	-	-	-	-	-
Other Unusual Items	-41.84	-5	64.85	-67.45	-69.71	-21.9	-21.78	-5.44	-5.44	-5.5	-5.5	-0.59	-0.6	-0.64	-2.06	-96.7	-59.99	-48	-34.07	14.11
Pretax Income	385.94	312.92	206.65	652.27	286.94	141.04	399.87	327.11	317.33	231.05	483.1	226.87	381.97	241.12	342.81	-60.38	67.07	161.31	308.86	246.99
Income Tax Expense	72.98	59.87	8.15	111.89	60.96	17.54	49.86	46.45	41.07	27.23	59.55	29.9	49.71	33.81	49.62	-11.6	13.46	20.41	42.9	30.28
Earnings From Continuing Operations	312.97	253.05	198.5	540.38	225.98	123.5	350.02	280.65	276.25	203.82	423.55	196.97	332.26	207.32	293.19	-48.78	53.61	140.9	265.96	216.71
Minority Interest in Earnings	-162.33	-110.46	-144.25	-251.5	-88.92	-76.33	-172.7	-162.19	-181.31	-130.79	-249.6	-135.15	-187.74	-113.28	-175.7	13.23	-13.88	-95.04	-141.87	-131.99
Net Income	150.64	142.59	54.25	288.88	137.06	47.17	177.32	118.46	94.94	73.03	173.95	61.82	144.51	94.04	117.49	-35.55	39.73	45.86	124.09	84.73
Preferred Dividends & Other Adjustments	38.38	38.54	-49.07	36.43	35.7	36.11	-30.68	7.83	7.59	7.27	5.33	5.34	5.32	5.31	3.5	3.56	3.46	3.59	7.12	1.75
Net Income to Common	112.26	104.05	103.32	252.46	101.37	11.06	207.99	110.63	87.34	65.76	168.62	56.49	139.2	88.73	114	-39.1	36.27	42.28	116.97	82.98
Net Income Growth (YoY)	10.74%	840.56%	-50.33%	128.20%	16.05%	-83.17%	23.35%	95.86%	-37.25%	-25.89%	47.91%	-	283.78%	109.86%	-2.54%	-	-68.88%	-18.66%	64.51%	110.81%
Shares Outstanding (Basic)	226	224	221	220	219	209	203	201	196	193	190	186	183	179	177	176	175	174	172	169
Shares Outstanding (Diluted)	226	224	221	220	219	209	215	201	196	193	201	186	194	179	190	176	175	174	189	187
Shares Change (YoY)	3.38%	7.01%	2.82%	9.54%	11.58%	8.68%	6.92%	7.79%	1.10%	7.63%	5.97%	6.03%	10.79%	2.73%	0.47%	-5.84%	-3.24%	6.39%	17.57%	17.96%
EPS (Basic)	0.50	0.46	0.47	1.15	0.46	0.05	1.03	0.55	0.45	0.34	0.89	0.30	0.76	0.50	0.64	-0.22	0.21	0.24	0.68	0.49
EPS (Diluted)	0.49	0.46	0.13	1.15	0.46	0.05	0.71	0.55	0.43	0.33	0.89	0.30	0.74	0.49	0.60	-0.22	0.21	0.24	0.66	0.45
EPS Growth (YoY)	6.52%	770.49%	-81.43%	108.75%	6.98%	-83.99%	-20.08%	83.33%	-42.26%	-32.65%	49.02%	-	259.63%	104.17%	-9.21%	-	-70.01%	-25.78%	33.57%	70.53%

Additional Metrics

Fiscal Quarter	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Period Ending	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021
Free Cash Flow	-384.5	390.87	-499.48	1,329	392.78	1,972	798.31	814.43	402.93	683.97	-583.06	295.22	-711.3	698.7	-197.92	14.65	-802.27	215.63	-764.37	-781.91
Free Cash Flow Per Share	-1.70	1.75	-2.26	6.04	1.79	9.42	3.71	4.06	2.05	3.55	-2.90	1.58	-3.67	3.90	-1.04	0.08	-4.58	1.24	-4.05	-4.19
Dividend Per Share	1.350	1.350	1.120	1.120	1.120	1.120	0.930	0.930	0.930	0.930	0.770	0.770	0.770	0.770	0.610	0.610	0.610	0.610	0.470	0.470
Dividend Growth (YoY)	20.54%	20.54%	20.43%	20.43%	20.43%	20.43%	20.78%	20.78%	20.78%	20.78%	26.23%	26.23%	26.23%	26.23%	29.79%	29.79%	29.79%	29.79%	17.50%	17.50%
Gross Margin	37.54%	36.08%	37.44%	38.38%	38.22%	30.40%	40.38%	42.45%	51.13%	49.54%	43.94%	49.13%	37.55%	41.99%	42.04%	41.14%	40.58%	38.65%	37.16%	32.70%
Operating Margin	19.38%	18.43%	13.54%	24.10%	19.02%	11.96%	24.54%	24.81%	29.11%	24.65%	27.43%	26.31%	23.90%	22.79%	46.38%	-0.01%	18.05%	21.16%	22.69%	17.25%
Profit Margin	7.86%	7.45%	6.87%	15.23%	7.51%	1.02%	16.52%	9.79%	11.07%	9.30%	16.00%	8.42%	12.73%	10.91%	12.16%	-4.88%	6.03%	5.91%	8.93%	8.75%
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%
EBITDA	337.32	317.11	267.21	465.42	320.04	178.41	339.68	326.29	265.82	211.02	326.6	282.11	304.24	231.03	478.5	219.22	148.88	189.44	338.81	200.31
EBITDA Margin	23.61%	22.71%	17.76%	28.08%	23.70%	16.38%	26.98%	28.88%	33.70%	29.83%	30.99%	42.03%	27.83%	28.40%	51.03%	27.36%	24.75%	26.50%	25.86%	21.11%
D&A For EBITDA	60.45	59.69	63.48	65.96	63.18	48.23	30.78	46.01	36.25	36.64	37.54	105.52	42.99	45.66	43.55	219.34	40.33	38.13	41.55	36.67
EBIT	276.87	257.42	203.73	399.46	256.86	130.18	308.91	280.29	229.57	174.37	289.06	176.58	261.25	185.37	434.96	-0.12	108.55	151.32	297.26	163.65
EBIT Margin	19.38%	18.43%	13.54%	24.10%	19.02%	11.96%	24.54%	24.81%	29.11%	24.65%	27.43%	26.31%	23.90%	22.79%	46.38%	-0.01%	18.05%	21.16%	22.69%	17.25%
Effective Tax Rate	18.91%	19.13%	3.94%	17.15%	21.24%	12.43%	12.47%	14.20%	12.94%	11.79%	12.33%	13.18%	13.01%	14.02%	14.47%	-	20.07%	12.65%	13.89%	12.26%
Revenue as Reported	1,429	1,396	1,505	1,658	1,350	1,089	1,259	1,130	788.68	707.36	1,054	671.26	1,093	813.36	937.72	801.29	601.43	715	1,310	948.72

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Jul 31, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 22, 2026

Data Sources Report a data error