Ares Management Corp
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $4.8B | $3.7B | $3.2B | $2.9B | $2.3B |
| Selling, general & administrative | $996.1M | $736.5M | $660.1M | $695.3M | $444.2M |
| Operating expenses | $4.7B | $2.9B | $2.8B | $2.7B | $3.4B |
| Interest expense | — | — | — | $71.4M | $36.8M |
| Pretax income | $1.3B | $1.3B | $1.3B | $510.8M | $1.1B |
| Income tax expense | $198.5M | $164.6M | $173.0M | $71.9M | $147.4M |
| Net income | $527.4M | $463.7M | $474.3M | $167.5M | $408.8M |
| Balance Sheet | |||||
| Total assets | $28.6B | $24.9B | $24.7B | $22.0B | $21.6B |
| Total liabilities | $19.9B | $17.5B | $19.7B | $17.1B | $16.7B |
| Stockholders' equity | $4.3B | $3.5B | $1.9B | $1.6B | $1.8B |
| Cash Flow Statement | |||||
| Cash from operations | $3.3B | $2.8B | -$233.3M | -$734.1M | -$2.6B |
| Depreciation and amortization | $45.2M | $32.2M | $31.4M | $26.2M | $22.1M |
| Stock-based compensation | $740.5M | $352.9M | $256.0M | $200.4M | $237.2M |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 329.8M
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.