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Alternative asset manager focused primarily on private credit, alongside real estate and private equity strategies.
Alternative asset manager focused primarily on private credit, alongside real estate and private equity strategies.
Earns management fees on capital investors commit to its funds, much of it locked up for years, which form the steady core, plus performance fees when investments are sold. Credit is its largest area by assets under management. It added real-estate and secondaries businesses through the 2021 purchases of Black Creek Group and Landmark Partners.
Moat: narrow (scale, process know-how, distribution). One of the largest direct-lending platforms gives sourcing and underwriting scale versus smaller credit funds.
Headquarters: Los Angeles, California, US · Founded: 1997 · Employees: 4,250
Size Ares Management (ARES) is a United States Financials company (Investment Managers) with a market value of $30.0B, the 362nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $133.98 on 6 Nov 2026.
Performance Over six months the shares gained 7.2%, against +5.0% for the median peer and -1.1% for the United States market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 6.8% over the last twelve months (peer median +9.4%); the operating margin is 27.3% (peer median 30.9%).
Valuation It trades at 20.5× forward earnings against a peer median of 11.3× (4th most expensive of 21).
Credit Ares Management has 3 bonds outstanding ($1.70B), rated BBB+ by the agencies and trading like BBB at a weighted spread of 101 bp.
Short interest Short interest is 7.0% of the free float (15 Oct 2026).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $6.49B | $6.20B | $4.22B | $3.92B | $3.01B |
| Revenue growth | — | +47% | +8% | +30% | — |
| Gross profit | $5.23B | $4.81B | $3.59B | $3.04B | $2.12B |
| EBITDA | $2.02B | $2.06B | $1.50B | $1.50B | $917M |
| Net income | $396M | $485M | $433M | $453M | $153M |
| Free cash flow | n/a | $1.54B | $1.03B | $1.13B | $329M |
| Capital expenditure | n/a | $72.2M | $91.5M | $67.2M | $35.8M |
| Total debt | n/a | $14.3B | $13.2B | $15.8B | $13.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ares Management ARES | $30.0B | +7% | +7% | 27% | 20.5× | n/a |
| Apollo Global Management APO | $68.9B | -12% | +11% | 11% | 11.5× | n/a |
| Blue Owl Capital OWL | $15.4B | -7% | +11% | 17% | 10.4× | n/a |
| Blackstone BX | $149B | -3% | +9% | 57% | 18.1× | n/a |
| KKR & KKR | $86.6B | -6% | +32% | 23% | 11.4× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ARES | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.2% | +2.6% | 2nd highest of 21 |
| 6-month return | +7.2% | +5.0% | 10th highest of 21 |
| Distance from 52-week high | -23.8% | -15.8% | 8th lowest of 21 |
| Revenue growth (TTM) | +6.8% | +9.4% | 7th lowest of 21 |
| Operating margin | 27.3% | 30.9% | 10th lowest of 21 |
| Forward P/E | 20.5× | 11.3× | 4th most expensive of 21 |
| Bond spread | 101 bp | 90 bp | 5th widest of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ares Management ARES | United States | $30.0B | +7% | +7% | 27% | 20.5× | n/a | n/a |
| Raymond James Financial RJF | United States | $31.3B | +6% | +10% | 21% | 11.4× | n/a | n/a |
| Northern Trust NTRS | United States | $31.3B | +8% | +7% | 24% | 13.7× | n/a | n/a |
| Nomura 8604.T | Japan | $26.5B | +15% | +12% | 12% | 9.0× | n/a | n/a |
| Principal Financial PFG | United States | $23.6B | +10% | +5% | 15% | 11.3× | n/a | n/a |
| CSC Financial 6066.HK | Hong Kong | $23.5B | -15% | +3% | 49% | 5.5× | n/a | n/a |
| T. Rowe Price TROW | United States | $23.1B | +4% | +7% | 36% | 10.8× | n/a | n/a |
| Eqt EQT.ST | Sweden | $39.2B | +1% | -18% | 59% | 22.6× | n/a | n/a |
| Guotai Haitong Securities 2611.HK | Hong Kong | $39.8B | -6% | +38% | 69% | 6.0× | n/a | n/a |
| Amundi AMUN.PA | France | $21.7B | +9% | +1% | 23% | 11.9× | n/a | n/a |
| Partners PGHN.SW | Switzerland | $21.3B | -24% | +9% | 56% | 16.7× | n/a | n/a |
| Ameriprise Financial AMP | United States | $43.5B | +8% | +9% | 28% | 10.0× | n/a | n/a |
| Pershing Square PS | United States | $20.6B | +24% | +67% | 37% | 84.9× | n/a | n/a |
| China Merchants Securities 6099.HK | Hong Kong | $20.2B | -10% | +98% | 34% | 4.5× | n/a | n/a |
| TPG TPG | United States | $17.9B | +4% | +21% | 17% | 13.8× | n/a | n/a |
| Franklin Resources BEN | United States | $17.1B | +10% | +8% | 15% | 10.6× | n/a | n/a |
| CVC Capital Partners CVC.AS | Netherlands | $16.9B | +10% | +14% | 57% | 18.1× | n/a | n/a |
| Blue Owl Capital OWL | United States | $15.4B | -7% | +11% | 17% | 10.4× | n/a | n/a |
| ICICI Prudential Asset Management ICICIAMC.NS | India | $15.4B | -11% | +22% | 73% | 39.2× | n/a | n/a |
| DWS Group GmbH & Co. KGaA DWS.DE | Germany | $14.7B | +7% | +24% | 37% | 12.6× | n/a | n/a |
| Carlyle CG | United States | $14.1B | -22% | -44% | 14% | 10.2× | n/a | n/a |
Ares Management has 3 bonds outstanding with $1.70B face value. The agencies rate it BBB+; its bonds trade like BBB. Weighted yield 5.96%, a spread of 101 bp over government bonds.