Financials in USD. Standardized financial statements.
A compact view of how Ares Management Corporation turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $6.47B | $3.88B | $3.63B | $3.06B | $4.21B | $1.76B | $1.77B | $958.46M | $1.48B | $1.25B |
| Revenue Growth? | +66.6% | +7.0% | +18.9% | -27.5% | +138.8% | -0.1% | +84.2% | -35.2% | +18.0% | 0.0% |
| Cost of Revenue? | $1.63B | $1.73B | $1.49B | $1.50B | $1.16B | $767.25M | $653.35M | $570.38M | $514.11M | $447.73M |
| Gross Profit? | $4.84B | $2.15B | $2.15B | $1.56B | $3.05B | $996.79M | $1.11B | $388.08M | $965.83M | $806.65M |
| Gross Margin? | +74.8% | +55.4% | +59.1% | +51.0% | +72.4% | +56.5% | +63.0% | +40.5% | +65.3% | +64.3% |
| Operating Expenses? | $3.08B | $1.21B | $1.31B | $1.25B | $2.25B | $683.23M | $809.45M | $299.98M | $1.06B | $623.86M |
| Operating Income? | $1.76B | $946.09M | $834.03M | $306.36M | $802.01M | $313.56M | $302.64M | $88.10M | -$89.26M | $182.78M |
| EBITDA? | $2.30B | $2.41B | $2.43B | $1.33B | $1.47B | $731.95M | $762.05M | $457.20M | $330.61M | $444.81M |
| Income Before Tax | $1.29B | $1.28B | $1.33B | $510.81M | $1.07B | $379.48M | $425.18M | $184.34M | $149.86M | $297.92M |
| Income Tax Expense | $198.53M | $164.62M | $172.97M | $71.89M | $147.38M | $54.99M | $52.38M | $32.20M | -$23.05M | $11.02M |
| Net Income? | $527.36M | $463.74M | $474.33M | $167.54M | $408.84M | $152.14M | $148.88M | $57.02M | $76.18M | $111.81M |
| EPS? | $1.96 | $2.07 | $2.46 | $0.87 | $2.25 | $0.89 | $1.11 | $0.30 | $0.62 | $1.22 |
| Diluted EPS? | $1.96 | $2.07 | $2.42 | $0.87 | $2.15 | $0.87 | $1.06 | $0.30 | $0.62 | $1.20 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality