Stocks · Financial Services · Asset Management
Ares Management Corporation ARES
$117.13 -0.36% Close, Oct 5, 2026 · NYSE · Market cap $38.61B
High risk
Next earnings report: Oct 29, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Revenue over the last four quarters was $6.39B, up 32.3% from a year earlier, slowing from 47.8% a quarter earlier.
- Net debt is 5.2× EBITDA, a high level of leverage.
- Diluted EPS over the last four quarters was $2.41, up 38.3% year over year.
PromtFinance scores
Each score is a percentile within the Financial Services sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 6, 2026.
Growth54Neutral
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 13%
- EPS growth (TTM, YoY)Top 27%
- FCF growth (TTM, YoY)Bottom 7%
- Revenue growth, 3-year CAGRTop 18%
- Revenue growth accelerationBottom 11%
Quality62Neutral
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 32%
- Gross marginBottom 43%
- Operating marginTop 47%
- Cash conversion (OCF / net income)Top 32%
- Accruals (lower is better)Top 33%
- Net debt / EBITDA (lower is better)Bottom 24%
- Interest coverTop 31%
Value32Weak
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 23%
- Free-cash-flow yieldBottom 28%
- EBITDA / enterprise valueBottom 40%
- Sales / enterprise valueBottom 14%
- P/E vs own 5-year history (lower is better)Top 25%
Momentum22Very weak
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 19%
- 6-month returnTop 29%
- 1-year return vs S&P 500Bottom 14%
- Distance from 52-week highBottom 13%
- Trend checklist (0–4)Bottom 27%
Revisions62Neutral
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 20%
- Consecutive EPS beatsBottom 43%
- Share of analysts rating BuyTop 15%
- Upside to consensus price targetTop 24%
Stability8Very weak
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 19%
- Maximum drawdown, 3 yearsBottom 16%
- Beta vs S&P 500 (lower is better)Bottom 5%
- Net debt / EBITDA (lower is better)Bottom 24%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 47.8% | 32.3% | ↓ |
| EPS growth (YoY) | 37.3% | 38.3% | ↑ |
| Gross margin | 54.4% | 62.7% | ↑ |
| Operating margin | 17.4% | 23.2% | ↑ |
| FCF margin | 82.4% | 13.1% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 32.3% | 47.8% | ↓ | Top 13% |
| EPS growth (TTM, YoY) | 38.3% | 37.3% | ↑ | Top 27% |
| Gross margin | 62.7% | 54.4% | ↑ | Bottom 43% |
| Operating margin | 23.2% | 17.4% | ↑ | Top 47% |
| Net margin | 10.0% | 9.9% | ↑ | — |
| Free-cash-flow margin | 13.1% | 82.4% | ↓ | — |
| Return on invested capital | 4.5% | — | Top 32% | |
| Revenue growth, 3-year CAGR | 28.4% | — | Top 18% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 1.43×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -0.9%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 0.0%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -132.3 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 5.24×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 2.0×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 4.97%
- Net buyback yield (TTM)
- 1.32%
- Shareholder yield
- 6.30%
- Share count change, 1 year
- +3.4%
- Share count change, 3-year CAGR
- +5.3%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 7, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 1
- Beats in the last 8 reports
- 4 of 8
- Average EPS surprise, last 4
- -4.2%
- Average 2-day reaction, last 8
- -0.9%
- Positive 20 days after report
- 5 of 8
Analysts
- Consensus price target
- $147.75
- Target vs current price
- +26.1%
- Analysts with a rating
- 22
- Share rating Buy or Strong Buy
- 77%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 31, 2026 | +0.8% | +3.2% | +11.3% | +14.7% | — |
| May 1, 2026 | -6.8% | +1.4% | +4.9% | +9.5% | +8.9% |
| Feb 5, 2026 | -14.2% | -11.2% | +0.1% | -14.7% | -13.3% |
| Nov 3, 2025 | +3.5% | +4.6% | +3.5% | +7.3% | +2.0% |
| Aug 1, 2025 | -4.6% | -1.5% | +0.8% | -2.8% | -19.5% |
| May 5, 2025 | +16.0% | +2.3% | +5.0% | +6.2% | +19.5% |
| Feb 5, 2025 | -8.9% | -2.9% | -4.6% | -16.6% | -22.1% |
| Nov 1, 2024 | +1.2% | -3.5% | +0.4% | +5.4% | +18.1% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 31, 2026 | $1.29 | $1.28 | +0.8% | $1.43B |
| May 1, 2026 | $1.24 | $1.33 | -6.8% | $1.29B |
| Feb 5, 2026 | $1.45 | $1.69 | -14.2% | $1.50B |
| Nov 3, 2025 | $1.19 | $1.15 | +3.5% | $1.66B |
| Aug 1, 2025 | $1.03 | $1.08 | -4.6% | $1.35B |
| May 5, 2025 | $1.09 | $0.94 | +16.0% | $1.09B |
| Feb 5, 2025 | $1.23 | $1.35 | -8.9% | $1.61B |
| Nov 1, 2024 | $0.95 | $0.94 | +1.2% | $1.43B |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 48.6× | 63.6× | 29th | Bottom 23% |
| P/E (forward) | 20.0× | — | — | — |
| EV / EBITDA | 20.8× | — | — | Bottom 40% |
| EV / Sales | 8.08× | — | — | Bottom 14% |
| Free-cash-flow yield | 2.17% | — | — | Bottom 28% |
| Earnings yield | 2.06% | — | — | Bottom 23% |
P/E over the past five years
Range 31.0× – 108.1× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- -22.2%
- Earnings per share growth (TTM)
- +38.3%
- Change in P/E multiple
- -47.5%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- +1.5%
- 200-day average slope (20 days)
- -2.7%
- Distance from 50-day average
- -12.0%
- Distance from 200-day average
- -9.6%
- RSI (14)
- 32.7
- Relative volume
- 0.74×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 36.2%
- Volatility vs own 5-year history
- 60th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.74
- Correlation with S&P 500
- 0.64
- Current drawdown from 1-year high
- -34.3%
- Maximum drawdown, 3 years
- -51.3%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Jan 31, 2025 | Mar 12, 2026 | -51.3% | 278 days | Not yet recovered |
| Nov 17, 2021 | Jun 16, 2022 | -39.5% | 145 days | 241 days (Jun 2, 2023) |
| Apr 5, 2021 | May 12, 2021 | -13.7% | 27 days | 21 days (Jun 11, 2021) |
| Jul 31, 2024 | Aug 5, 2024 | -12.7% | 3 days | 32 days (Sep 19, 2024) |
| May 15, 2024 | Jun 21, 2024 | -12.0% | 25 days | 20 days (Jul 22, 2024) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $38.61B
- P/E (TTM)
- 48.6
- EPS, diluted (TTM)
- $2.41
- Revenue (TTM)
- $6.39B
- Dividend yield
- 4.41%
- 52-week range
- $95.80 – $181.19
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $4.21B | $3.06B | $3.63B | $3.88B | $6.47B |
| Gross profit | $3.05B | $1.56B | $2.15B | $2.15B | $4.84B |
| Operating income | $802.0M | $306.4M | $834.0M | $946.1M | $1.76B |
| Net income | $408.8M | $167.5M | $474.3M | $463.7M | $527.4M |
| EPS (diluted) | $2.15 | $0.87 | $2.42 | $2.07 | $1.96 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.13B | $1.26B | $1.09B | $1.35B | $1.66B | $1.77B | $1.53B | $1.43B |
| Net income | $118.5M | $177.3M | $47.2M | $137.1M | $288.9M | $54.2M | $142.6M | $150.6M |
| EPS (diluted) | $0.55 | $0.68 | $0.05 | $0.46 | $1.15 | $0.13 | $0.64 | $0.49 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | -$2.60B | -$734.1M | -$233.3M | $2.79B | $3.27B |
| Capital expenditure | -$27.2M | -$35.8M | -$67.2M | -$91.5M | -$72.2M |
| Free cash flow | -$2.62B | -$769.9M | -$300.4M | $2.70B | $3.19B |
| Dividends paid | -$593.5M | -$836.4M | -$1.03B | -$1.31B | -$1.76B |
| Net share buybacks | $827.4M | $21.2M | $86.0M | $407.1M | -$946.4M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $1.85B
- Total assets
- $29.63B
- Total liabilities
- $21.03B
- Total debt
- $14.87B
- Net debt
- $13.02B
- Shareholders’ equity
- $3.97B
As of Jun 30, 2026 (filed Aug 7, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Sep 16, 2026 | $1.35 | Sep 30, 2026 |
| Jun 16, 2026 | $1.35 | Jun 30, 2026 |
| Mar 17, 2026 | $1.35 | Mar 31, 2026 |
| Dec 17, 2025 | $1.12 | Dec 31, 2025 |
| Sep 16, 2025 | $1.12 | Sep 30, 2025 |
| Jun 16, 2025 | $1.12 | Jun 30, 2025 |
| Mar 17, 2025 | $1.12 | Mar 31, 2025 |
| Dec 17, 2024 | $0.93 | Dec 31, 2024 |
Short interest
- Shares sold short
- 16,075,443
- Days to cover
- 8.68
- Change vs previous report
- +3.5%
FINRA short interest, settlement date Sep 15, 2026.