Ares Management Corporation Financial Ratios — ARES Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	291.35	159.59	8.65	7.3	36.91	19.19	12.52	33.53	19.12	29.26	9.81	27.24	22.17	17.39
Return on Assets (%)	- -	5.12	3.37	0.15	0.15	2.2	1.06	0.61	1.34	1.12	2.22	0.77	2.03	1.87	1.97
Return on Capital (%)	- -	2.06	2.38	0.93	0.45	1.01	- -	2.05	1.94	2.07	1.03	1.86	2.88	3.33	2.87
Return on Invested Capital (%)	- -	-1.91	-1.41	-1.25	0.23	4.24	- -	0.91	2.77	2.25	4.66	1.57	3.89	4.1	3.52
Gross Margin (%)	2.99	13.57	30.24	24.43	49.11	64.31	65.26	40.49	62.99	56.51	72.4	50.95	59.07	55.42	54.2
EBITDA Margin (%)	-117.2	-122.83	-57.18	-36.43	10.93	17.56	-3.81	12.17	19.38	20.11	21.73	21.2	29.34	28.44	20.28
Operating Margin (%)	-126.08	-127.07	-67.53	-42.42	5.57	18.97	16.92	9.19	17.14	17.78	19.04	10.03	22.96	24.35	15.94
Incremental Operating Margin (%)	- -	- -	70.01	53.57	143.22	43.77	5.5	31.12	26.59	- -	19.95	42.85	91.54	44.31	- -
Pretax Margin (%)	460.44	377.74	182.31	92.22	10	23.75	10.13	19.23	24.08	21.51	25.3	16.72	36.7	32.83	22.97
Profit Margin (%)	47.04	369.92	169.93	5.79	2.38	8.91	5.15	5.95	8.43	8.62	9.71	5.48	13.06	11.94	9.41
Net Income to Common Margin (%)	47.04	369.92	169.93	5.79	2.38	7.94	3.68	3.69	7.2	7.39	9.45	5.48	13.06	11.35	7.61
Effective Tax Rate (%)	3.1	2.07	6.79	2.02	23.4	3.7	- -	17.47	12.32	14.49	13.83	14.07	12.98	12.91	15.43
Dvd Payout Ratio (%)	14.8	9.33	25.83	31.23	206.5	44.61	105.53	138.61	56.29	94.03	41.89	117.75	55.84	74.25	106.93
Sustainable Growth Rate (%)	- -	264.17	118.36	5.95	-7.77	20.45	-1.06	-4.84	14.66	1.14	17.01	-1.74	12.03	5.71	-1.21

Credit (USD)

Credit Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	14,123	14,784	14,321	13,449	2,575	3,392	5,718	7,368	8,566	10,903	12,494	13,334	15,756	13,148	14,222
ST Debt	1,985	1,689	1,305	131	12	55	132	208	106	122	128	168	125	275	2,252
LT Debt	12,138	13,095	13,016	13,317	2,563	3,337	5,585	7,160	8,460	10,781	12,366	13,166	15,631	12,873	11,970
Total Debt/EBITDA	-58.22	-36.03	-52.32	-61.12	28.92	15.4	-101.29	63.18	25.04	30.73	13.65	20.59	14.78	11.9	12.52
Net Debt/EBITDA	-51.79	-31.7	-46.01	-54.47	25.77	11.78	-89.32	58.94	22.37	27.23	11.9	18.57	13.08	8.84	10.66
Total Debt/EBIT	-53.88	-34.83	-44.3	-52.5	76.28	18.56	-64.06	83.64	28.31	34.77	15.58	43.53	18.89	13.9	15.93
Net Debt/EBIT	-47.92	-30.64	-38.96	-46.79	67.95	14.19	-56.49	78.02	25.29	30.81	13.59	39.26	16.71	10.33	13.56
EBITDA to Interest Expense	-0.73	-0.9	-0.5	-0.33	0.91	2.01	-0.38	0.48	1.15	1.14	3.1	1.34	1.24	1.13	1.48
EBITDA-CapEx/Interest Expense	-0.82	-0.92	-0.53	-0.35	0.8	1.9	-0.61	0.4	1.09	1.09	3.01	1.27	1.16	1.04	1.39
EBIT to Interest Expense	-0.78	-0.93	-0.59	-0.38	0.46	2.17	1.69	0.36	1.02	1.01	2.72	0.63	0.97	0.97	1.16
Interest Expense	334	458	544	675	98	109	148	244	297	311	295	483	861	978	767
Common Equity/Total Assets	1.49	2.02	2.22	1.31	5.71	5.02	3.21	2.85	3.91	5.9	8.45	7.22	7.66	8.38	9.83
Long-Term Debt/Equity (%)	157.79	187.3	199.01	233.72	264.71	242.28	382.46	513.53	455.2	436.18	324.2	346.6	349.34	188.64	137.97
Long-Term Debt/Capital (%)	55.64	60.14	62.39	69.56	72.34	69.97	77.81	81.71	81.15	80.61	75.83	76.85	77.26	64.45	52.28
Long-Term Debt/Total Assets (%)	51.14	53.46	54.91	61.54	59.32	57.24	65.22	70.51	70.42	71.07	57.24	59.84	63.2	51.73	41.81
Total Debt/Equity (%)	183.59	211.45	218.96	236.03	265.92	246.28	391.54	528.45	460.91	441.11	327.55	351.03	352.14	192.67	163.92
Total Debt/Capital (%)	64.74	67.89	68.65	70.24	72.67	71.12	79.66	84.09	82.17	81.52	76.61	77.83	77.88	65.83	62.11
Total Debt/Total Assets (%)	59.5	60.35	60.41	62.15	59.59	58.18	66.77	72.56	71.3	71.88	57.83	60.6	63.71	52.84	49.67
Net Debt to Equity	163.29	186.05	192.54	210.35	236.91	188.33	345.28	492.95	411.76	390.84	285.66	316.67	311.52	143.18	139.51
Net Debt/Capital (%)	62.02	65.04	65.82	67.78	70.32	65.32	77.54	83.14	79.06	78.46	73.05	75.1	74.41	56.69	56.43
EBITDA	-243	-410	-274	-220	89	220	-56	117	342	355	915	648	1,066	1,105	1,136
EBITDA-CapEx	-274	-423	-286	-237	78	208	-90	98	325	339	888	612	999	1,013	1,064
Operating Income (Loss)	-261	-424	-323	-256	45	238	250	88	303	314	802	306	834	946	893

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.58	7.46	8.25	15.57	0.47	4.2	0.89	0.32	0.45	0.63	0.35	0.33	0.4	0.63	0.19
Current Ratio	0.75	0.78	0.94	1.62	1.67	1.79	0.64	0.53	0.71	1	0.63	0.64	0.73	2.81	1.18
Quick Ratio	0.75	7.68	8.55	16.06	1.67	5.17	1.08	0.53	0.71	1	0.63	0.64	0.73	2.81	1.18
CFO/Avg Current Liab	- -	0.93	0.74	0.75	-0.55	-0.79	-1.51	-0.93	-1.29	-0.25	-0.91	-0.2	-0.06	0.69	0.55
Common Equity/Total Assets	1.49	2.02	2.22	1.31	5.71	5.02	3.21	2.85	3.91	5.9	8.45	7.22	7.66	8.38	9.83
Long-Term Debt/Equity (%)	157.79	187.3	199.01	233.72	264.71	242.28	382.46	513.53	455.2	436.18	324.2	346.6	349.34	188.64	137.97
Long-Term Debt/Capital (%)	55.64	60.14	62.39	69.56	72.34	69.97	77.81	81.71	81.15	80.61	75.83	76.85	77.26	64.45	52.28
Long-Term Debt/Total Assets (%)	51.14	53.46	54.91	61.54	59.32	57.24	65.22	70.51	70.42	71.07	57.24	59.84	63.2	51.73	41.81
Total Debt/Equity (%)	183.59	211.45	218.96	236.03	265.92	246.28	391.54	528.45	460.91	441.11	327.55	351.03	352.14	192.67	163.92
Total Debt/Capital (%)	64.74	67.89	68.65	70.24	72.67	71.12	79.66	84.09	82.17	81.52	76.61	77.83	77.88	65.83	62.11
Total Debt/Total Assets (%)	59.5	60.35	60.41	62.15	59.59	58.18	66.77	72.56	71.3	71.88	57.83	60.6	63.71	52.84	49.67
CFO/Total Liabilities	15.52	15.7	12.67	9.61	-15.75	-14.05	-26.23	-16.18	-20.51	-3.35	-14.59	-4.03	-1.15	15.45	16.37
CFO/CapEx	78.12	212.8	180.4	91.97	-49.46	-52.52	-56.18	-76.93	-124.02	-26.7	-95.35	-20.51	-3.47	30.5	45.26
Altman's Z-Score	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	4.01	3.91	3.65	2.24	1.93	3.77	22.04	32.49	37.99	41.04	21.77	29.09	26.09	31.37
Days Sales Outstanding	- -	90.99	93.32	100	163.16	188.69	96.9	16.56	11.24	9.61	8.89	16.76	12.55	13.99	11.64
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	1,561	1,776	1,728	1,463	281	798	675	495	745	1,062	1,393	1,115	1,498	2,735	1,448
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	299	299	299	299	299	- -	- -	- -	1,459	1,460
+ Minority/Non Controlling Interest	7,338	6,498	6,015	5,414	721	786	887	806	1,090	1,278	1,989	2,209	2,581	3,281	4,401
+ Total Debt	14,123	14,784	14,321	13,449	2,575	3,392	5,718	7,368	8,566	10,903	12,494	13,334	15,756	13,148	14,222
Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Capital	21,816	21,776	20,862	19,147	3,544	4,769	7,178	8,763	10,425	13,375	16,309	17,133	20,230	19,972	22,898
Total Debt/Capital (%)	64.74	67.89	68.65	70.24	72.67	71.12	79.66	84.09	82.17	81.52	76.61	77.83	77.88	65.83	62.11
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	207	334	479	604	814	1,254	1,480	958	1,765	1,764	4,212	3,055	3,632	3,885	5,601
TTM EBITDA	-243	-410	-274	-220	89	220	-56	117	342	355	915	648	1,066	1,105	1,136
TTM Operating Income	-261	-424	-323	-256	45	238	250	88	303	314	802	306	834	946	893
TTM Cash Flow to Firm	2,813	3,196	2,682	2,194	-453	-520	- -	-1,215	-1,822	-160	-2,342	-319	516	3,643	3,916
TTM Free Cash Flow to Firm	2,781	3,184	2,670	2,177	-464	-532	- -	-1,234	-1,839	-175	-2,369	-355	449	3,552	3,844

Multiples (USD)

Valuation Multiples API ChatGPT

No data availableFinancial data will appear here once available

Per Share Data Items (USD)

Per-Share Data API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Shares Outstanding	80	80	80	81	81	81	82	102	115	147	172	177	191	203	222
Diluted Weighted Avg Shares	80	80	80	80	81	83	82	96	120	150	180	176	196	198	217
Basic Weighted Avg Shares	75	75	75	80	81	81	82	96	108	135	164	176	185	198	217
Revenue per Share	2.74	4.43	6.34	7.51	10.09	15.53	18.08	9.98	16.36	13.06	25.73	17.41	19.68	19.61	25.77
EBITDA per Share	-3.21	-5.44	-3.63	-2.74	1.1	2.73	-0.69	1.21	3.17	2.63	5.59	3.69	5.78	5.58	5.23
Operating Income per Share	-3.46	-5.63	-4.28	-3.19	0.56	2.95	3.06	0.92	2.8	2.32	4.9	1.75	4.52	4.78	4.11
Basic EPS, GAAP	1.29	16.38	10.78	0.44	0.24	1.23	0.67	0.37	1.18	0.97	2.43	0.95	2.57	2.23	1.96
Basic EPS from Cont Ops	12.24	16.38	10.78	6.79	0.77	3.55	2.11	1.58	3.45	2.4	5.61	2.5	6.29	5.61	5.01
Diluted EPS, GAAP	1.22	15.43	10.15	0.44	0.24	1.2	0.67	0.37	1.06	0.87	2.21	0.95	2.42	2.23	1.96
Diluted EPS from Cont Ops	11.53	15.43	10.15	6.79	0.77	3.46	2.11	1.58	3.11	2.17	5.1	2.5	5.93	5.61	5.01
Dividend per Share	3.43	3.06	5.57	4.11	2.7	2.64	3.46	3.48	3.2	3.47	3.69	4.77	5.59	6.62	8.08
Cash Flow per Share	32.99	36.42	28.82	19.07	-6.54	-7.75	-22.76	-14.76	-19.3	-3.15	-15.86	-4.18	-1.26	14.09	15.03
Free Cash Flow per Basic Share	32.57	36.24	28.66	18.86	-6.68	-7.9	-23.17	-14.95	-19.46	-3.27	-16.02	-4.39	-1.63	13.63	14.7
Cash & Equivalents per Share	19.41	293.59	281.45	255.08	3.48	51.08	16.08	4.87	6.46	7.22	8.11	6.28	7.86	13.45	6.52
Book Value per Share	4.41	6.14	6.53	3.52	3.06	3.62	3.34	2.85	4.07	6.08	10.62	8.96	9.94	10.25	12.68
Tangible Book Value per Share	3.47	5.19	4.96	1.95	0.22	1.12	1.1	1.12	2.76	2.05	-2.24	-3.49	-1.52	-0.26	-12.41