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Ares Management key statistics and ratios

In fiscal 2025, Ares Management had return on equity of 13.5%, a net margin of 11.1% and debt equal to 0.0% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Net margin369.9%169.9%5.8%2.4%11.6%7.0%4.7%10.4%8.7%17.9%5.8%14.7%12.6%11.1%12.0%
Free-cash-flow margin——251.0%−66.1%−66.1%−174.8%−117.8%−146.5%−24.3%−113.4%−25.5%−7.2%75.6%68.7%17.2%
Return on equity—12.4%1.0%7.3%41.4%8.7%5.6%22.0%15.5%27.1%9.8%27.2%17.1%13.5%15.4%
Return on assets5.0%3.4%0.2%0.1%2.2%1.1%0.6%1.3%1.1%2.2%0.8%2.0%1.9%2.0%2.2%
Asset turnover0.010.020.030.060.190.150.130.130.130.120.130.140.150.180.18
Debt to equity—2.3%71.5%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Effective tax rate2.1%6.8%2.0%23.4%3.7%−15.4%17.5%12.3%14.5%13.8%14.1%13.0%12.9%15.4%16.2%
SG&A as % of revenue————————14.8%19.4%24.1%20.4%20.0%20.9%19.5%
Capital spending as % of revenue——2.8%1.3%1.2%3.1%1.5%1.2%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Free cash flow ÷ net income——>999%<−999%−570.2%<−999%<−999%<−999%−279.8%−635.0%−438.2%−49.2%601.9%619.5%143.3%
Dividends ÷ net income——————————————14.6%
Dividends and buybacks ÷ free cash flow——————————————10.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: ARES vs TPGARES vs BAMARES vs IVZ

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Figures from Ares Management's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ares Management.