ARES Q4 2023 Earnings — Ares Management Corporation Revenue & Financial Results | Market Cap Arena

ARESAres Management Corporation

$36B

Q4 2023 Earnings

Financial Services Asset Management

Income Statement

Revenue

$1.1B+12.4% YoY

Gross Profit

$663M62.9% margin

Operating Income

$283M26.9% margin

Net Income

$174M16.5% margin

EPS (Diluted)

$0.86

QoQ Revenue Growth

+57.0%

Cash Flow

Operating Cash Flow

-$560M

Free Cash Flow

-$583M

Stock-Based Comp.

$0

Balance Sheet

Total Assets

$24.7B

Total Liabilities

$20.3B

Stockholders' Equity

$1.9B

Cash & Equivalents

$1.5B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$1.1B	$938M	+12.4%
Gross Profit	$663M	$594M	+11.6%
Operating Income	$283M	$251M	+12.8%
Net Income	$174M	$117M	+48.1%

Revenue Segments

Management Service

$1.9B80%

Management Service, Incentive

$244M10%

Principal Investment Income

$96M4%

Carried Interest

$87M4%

Administrative Service

$46M2%