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Ares Management Corporation
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NYSE: ARES Financials AMC 🔎 Screen
S&P 500
$42.9B
Market Cap
58.4
P/E
1.04
PEG
—
ROCE
48.2%
ROE
1.72
D/E
19.7%
OPM
-25.1%
% from 52W High
36
α RS
🔍 ARES is showing a multi-screen setup because it matches 7 of 39 tracked screener presets, Sector RRG has Financials in the Leading quadrant with the trail still rolling over, and an ECS of 81.7 last quarter. The main caution: the Value Buys preset's Backtest win rate is only 47%. Net: Mixed signal stack, not a recommendation. ? Conviction RRG ECS Backtest
Sources
Conviction 7/39 · Financials in Leading quadrant · ECS 81.7 · Backtest win rate 47%
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🌏 Global Investor Returns
Currency-adjusted total returns for ARES including FX impact
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📈 Price History
Ratio Health
— Excellent
— Good
— Average
— Poor
By Category
📊 Peer Medians
About

Ares Management Corporation operates as an alternative asset manager. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies. The company’s Private Equity Group segment specializes in early venture, turnaround, mid venture, late venture, recapitalization, growth capital, middle market, mezzanine, distressed and growth buyouts. The firm seeks to invest in healthcare, services, energy, industrials and consumer. The firm seeks to takes majority, minority and shared-control investments primarily in under-capitalized companies in North America, Europe, Asia Pacific, Southeast Asia and Australia. Its Real Estate Group segment invests in new developments and the repositioning of assets, with a focus on control or majority-control investments; and originates and invests in a range of self-originated financing opportunities for middle-market owners and operators of commercial real estate. The firm prefers to invest between $1 million and $500 million in companies having EBITDA between $10 million and $250 million and debt investment value between $10 million and $100 million. Ares Management Corporation was founded in 1997 and is based in Los Angeles, California with additional offices in North America, Europe and Asia.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding ARES
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 1.29M $141.0M 0.18% Mar 2026
Jim Simons Renaissance Technologies LLC 85.7K $9.3M 0.01% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue (management fees)
>$1.0B
+14% YoY
Fee-Related Earnings
$491.1M
+20% YoY
After-Tax Realized Income
$467.6M
+27% YoY
FRE Margin (YTD)
42.3%
+100 bps YoY
GAAP Net Income
$150.6M
N/M
What Went Right
  • Record Q2 fundraising of ~$36B, bringing H1 to ~$66B and AUM to ~$671B (+17% YoY).
  • Deployment stayed active at ~$36B in Q2 vs ~$27B a year ago, with record forward pipeline up ~20% QoQ.
  • Dividend raised to $1.35/share, up over 20% YoY, supported by +31% realized income growth.
What to Watch
  • Non-traded BDC redemptions concentrated in non-U.S. family offices/small institutions; APAC redemption queue still working down to ~$600M from $1.2B.
  • Q3 realized net performance income expected to be only ~$10M; FRPR timing is H2-weighted.
  • U.S. sponsor M&A remains subdued — 75% of USDL deployment was from incumbents — though NDAs/deal logs are up 30-35% QoQ.
Management Guidance
  • Reaffirmed long-term growth targets: 16%-20% FRE growth and 20%+ realized income and dividend growth.
  • Q3 realized net performance income expected ~$10M; Q3 FRPR from open-ended core alternative credit fund ~$62M.
  • Q4 non-traded REIT FRPR currently accrued ~$32M; Q2 tax rate 13.7% vs full-year guidance 11%-15%.
  • Expects non-traded BDC AUM to be larger at year-end 2026 than year-end 2025.
  • Digital infrastructure/GCP platform expected to contribute $50M-$100M of FRE in 2027 and beyond.
Investor Lens
The investment thesis is stronger after this quarter: record $36B fundraising, $170B dry powder, broad-based strategy diversification and a record forward pipeline support continued double-digit FRE/RI growth. Wealth-channel redemption noise is real but concentrated in non-core APAC investors, while core U.S. investor redemptions declined 35% QoQ. Management reaffirmed 16%-20% FRE growth and 20%+ RI growth targets, with GCP/digital infrastructure adding $50M-$100M of FRE in 2027. The main watch item remains near-term performance income lumpiness and the pace of U.S. sponsor M&A recovery.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Record $36B fundraising and +20% FRE growth; AUM hits $671B.
Revenue
Management fees surpassed $1.0B in Q2, up 14% YoY, and total revenues rose 17% including FRPR and other fees. Record $36B gross fundraising lifted AUM to ~$671B and fee-paying AUM to ~$410B, both up 17% YoY.
Profitability
Fee-related earnings were ~$491M, up 20% YoY. After-tax realized income was ~$468M, up 27% YoY, or $1.29 per share, up 25%; GAAP net income attributable was $150.6M, or $0.49 per share.
Margins
YTD FRE margin was 42.3%, up ~100bps YoY, and management expects to approach the upper end of full-year margin guidance of 0-150bps improvement. Q2 G&A included ~$9M of one-time AGM costs that will not recur in Q3/Q4.
Balance Sheet
Ares highlighted its asset-light balance sheet and long-duration capital (84% of AUM in perpetual/long-dated funds): $170B of dry powder and $114B of AUM not yet paying fees, with ~$828M of potential incremental annual management fees from deployable and development assets.
Key Risks
Wealth-channel redemption pressure persists in the non-traded BDC, concentrated in APAC family offices and small institutions, with the queue down to ~$600M. Q3 realized net performance income is expected to be limited to ~$10M, and U.S. sponsor M&A is still subdued despite rising early-stage activity signs.
Outlook
Management reaffirmed full-year targets of 16%-20% FRE growth and 20%+ realized income/dividend growth, with a stronger H2 deployment outlook. Q3 FRPR from the open-ended core alternative credit fund is expected at ~$62M.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-31
Record fundraising and AUM growth drove double-digit increases in management fees, earnings, and realized income. Diversified performance across credit, real assets, and wealth channels, with robust pipelines and margin expansion, position the firm to meet or exceed 2026 growth targets.
Q1 2026 Q1 2026 2026-05-01
Record fundraising and AUM growth drove strong Q1 results, with management fees surpassing $1 billion and FRE up 26% year-over-year. Diversified demand across credit, real assets, and infrastructure, plus robust deployment pipelines, support a positive outlook for 2026.
Q4 2025 Q4 2025 2026-02-05
A record year with AUM up 29% to $622B, fundraising at $113B, and strong growth across credit, real estate, and secondaries. Management fees, FRE, and realized income all rose over 20% year-over-year, with a 20% dividend increase and robust outlook for 2026.
Q3 2025 Q3 2025 2025-11-03
Record fundraising and AUM growth drove double-digit increases in management fees, FRE, and realized income. Broad-based strength across credit, infrastructure, real estate, and wealth channels, with robust deployment and strong performance metrics, positions the firm for continued momentum into 2026.
Q2 2025 Q2 2025 2025-08-01
Second quarter saw record fundraising, robust AUM growth, and strong segment performance across private credit, real assets, and wealth channels. Integration of GCP International and expansion in Europe and Asia are fueling future growth, with FRE margins stable and a 20% dividend increase.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

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Information Sources:
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