ARES Q4 2025 Earnings — Ares Management Corporation Revenue & Financial Results | Market Cap Arena

ARESAres Management Corporation

$36B

Q4 2025 Earnings

Financial Services Asset Management

Income Statement

Revenue

$1.8B+40.3% YoY

Gross Profit

$1.3B72.6% margin

Operating Income

$517M29.3% margin

Net Income

$54M3.1% margin

EPS (Diluted)

$0.13

QoQ Revenue Growth

+6.5%

Cash Flow

Operating Cash Flow

-$484M

Free Cash Flow

-$499M

Stock-Based Comp.

$157M

Balance Sheet

Total Assets

$29.0B

Total Liabilities

$20.3B

Stockholders' Equity

$4.3B

Cash & Equivalents

$1.5B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$1.8B	$1.3B	+40.3%
Gross Profit	$1.3B	$796M	+61.2%
Operating Income	$517M	$278M	+85.9%
Net Income	$54M	$177M	-69.4%

Revenue Segments

Management Service

$1.0B63%

Carried Interest

$217M14%

Management Service, Incentive

$209M13%

Administrative Service

$105M7%

Principal Investment Income (Loss)

$65M4%