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Ares Management Corp (ARES)

Fair Value
Financial ServicesAsset ManagementUnited States

Fundamental

51

Price

$115.00

Market Cap

$39.26B

Part 1 · What the company is worth

Overview

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.

No editorial profile for this company yet

Direct competitors

Who this company fights with for the same customers

Compare

Generated on September 18, 2026 with claude-haiku-4-5 — shared with all users

P/E: 42.2Score: 61Market cap: $70.27B

Apollo is the only alternative manager larger than Ares in private credit, and the two bid against each other for the same direct-lending and asset-backed financing deals and for the same insurance and institutional capital.

P/E: 75.8Score: 56Market cap: —

Blue Owl is built around the same core business as Ares — direct lending to middle-market and large private companies, distributed largely through non-traded BDCs sold to financial advisers and individual investors.

P/E: 25.1Score: 71Market cap: $85.99B

Blackstone competes with Ares across every one of its segments — credit, real estate, infrastructure and private equity — and above all for the same institutional and wealth-channel fundraising.

P/E: 26.6Score: 59Market cap: $83.70B

KKR runs a comparably diversified credit, real assets and private equity platform and competes head-on with Ares for middle-market buyout financings and for the same pension and sovereign-fund mandates.

P/E: 41.3Score: 58Market cap: $14.05B

Carlyle's global credit arm and its private equity and real assets funds chase the same borrowers, the same deal flow and the same limited partners as Ares.

P/E: 26.0Score: 60Market cap: —

Brookfield, which owns Oaktree, competes with Ares in real estate, infrastructure and credit, the three areas where Ares raises much of its long-duration capital.

Balance Sheet & Liquidity

Revenue

$5.60B

Fiscal year ended 12/31/2025

Net Income

$527M

Fiscal year ended 12/31/2025

Free Cash Flow

-

Total Equity

$4.28B

Total Liabilities

$19.93B

Current Ratio

0.30

Interest Coverage

-

Debt/EBITDA

10.40

Earnings Per Share

No EPS data available

Revenue & Net Income

Free Cash Flow

Income Breakdown

Historical statement

Margins over time

Debt over time

How heavy the debt is

Growth grid

Growth — Revenue

Fair Value Estimation

General caseFairly Valued

Fair Value

$112.15

Current Price

$115.00

Margin of Safety

-2.5%

Fair Value Range

$73.96 - $150.34

Spread across the valuation methods used, not a statistically calibrated confidence interval.

Estimation Methods

Analyst price target:$147.89
Discounted cash flow (DCF):$109.55
Earnings multiple (P/E):$39.49
Graham growth formula:$89.13
Earnings power value (EPV):$30.11
Justified P/B:$15.31
Dividend discount (Gordon):Not enough data to compute it
P/FFO, funds from operations:Not enough data to compute it
Mid-cycle earnings:Not enough data to compute it
Revenue multiple:$69.23
Analyst Consensus:Buy (18B / 7H / 0S)
Last Earnings Surprise:-2.29%

Valuation Metrics

P/E Ratio

41.48

ROE

12.3%

P/B Ratio

9.17

P/FCF

-

Gross Margin

-

ROIC

-

Profitability Radar

Value Creation (Economic Moat)

ROIC

-

WACC

8.3%

ROIC − WACC

-

Fundamental Analysis Criteria

Passed (6)

  • Price CAGR 21.23%
  • ROE 15.2%
  • Revenue Growth 5Y 26.0%
  • Analyst Consensus 72% Buy
  • Earnings Quality (OCF/NI) 6.19
  • Piotroski F-Score 5/9

Failed (8)

  • P/B Ratio 9.17
  • Debt/Equity ratio
  • Debt/EBITDA
  • Return on Tangible Assets
  • Low reliance on intangibles
  • DCF valuation (Overvalued)
  • Earnings Surprise avg -6.6%
  • PEG Ratio 2.19

Unavailable (13)

  • EPS data insufficient
  • ROIC NaN%
  • Gross Margin NaN%
  • P/FCF NaN
  • Dividend Payout NaN%
  • Operating Margin NaN%
  • Positive Free Cash Flow
  • CapEx intensity
  • Current Ratio
  • Interest Coverage
  • Price below Graham Number
  • Share Dilution (missing shares data)
  • Net Margin Trend (invalid data)

Piotroski F-Score

5/9

Mixed signals: some areas need attention

score
criteria

Earnings Quality

6.19

High quality: earnings backed by cash

Share Dilution

-

Buying back shares. Shareholder friendly

Institutional Holdings

Governance

Executive Team

NameTitleAge
Mr. Antony Peter ResslerPartner, Director, Co-Founder & Executive Chairman65
Mr. Michael J. AroughetiCo-Founder, Partner, CEO & Director53
Mr. Blair Victor JacobsonPartner & Co-President-
Mr. Robert Kipp DeVeer IIIPartner, Director & Co-President52
Mr. Jarrod Morgan Phillips CPACFO, Partner & Principal Financial and Accounting Officer47
Ms. Naseem Sera Sagati Aghili J.D.Partner, General Counsel & Corporate Secretary43
Mr. Ryan James-Barclay BerryPartner, Chief Marketing & Strategy Officer45
Mr. William Stephen BenjaminPartner & Vice Chairman60
Mr. Seth J. BrufskyPartner & Vice Chair of Ares58
Mr. Gregory A. MargoliesPartner & Vice Chair of Ares58

Audit Risk

8

Board Risk

10

Compensation Risk

10

Shareholder Rights Risk

10

Part 2 · The price and when to enter

This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.

Documents

  • Annual Report (10-K)

    A yearly overview of the business, its financial results, and the risks it faces.

    Filed on 2026-02-25

    View document
  • Quarterly Report (10-Q)

    A snapshot of financial performance for the most recent three-month period.

    Filed on 2026-08-07

    View document
  • Current Report (8-K)

    An announcement of a major event, such as a leadership change or big news.

    Filed on 2026-09-30

    View document

via SEC EDGAR

Income History

via SEC EDGAR

Latest News

Recent headlines for ARES, sourced from Markets Gazette.

  • 10h agoPOSITIVE
    Ares Leads Phoenix Tower Debt Package With $2 Billion Facility

    Ares Management Corp. is spearheading a substantial $2 billion debt facility for Phoenix Tower International, a significant player in telecom tower infrastructure based in Florida. This move highlights Ares's strategic deployment of capital into essential infrastructure assets, potentially bolstering its own financial performance and reputation. For investors, this deal signifies Ares's continued strength in private credit markets and its ability to structure large, impactful financing solutions for growing companies in the digital infrastructure space.

  • 9/1/2026POSITIVE
    Ares Venture Buys US Student Housing Properties for $435 Million

    Ares Management Corp. funds, in partnership with The Scion Group, have acquired four US student housing communities for approximately $435 million. This marks the second transaction for their newly formed partnership, signaling continued investment and confidence in the student housing sector. The deal underscores Ares' strategy to expand its real estate portfolio through targeted acquisitions in resilient asset classes. Investors may view this as a positive indicator of Ares' growth initiatives and its ability to deploy capital effectively in attractive real estate markets.

  • 8/31/2026POSITIVE
    Ares Raises $3.8 Billion for Japan-Focused Logistics Fund

    Ares Management Corp. has successfully raised ¥612 billion ($3.8 billion) for its new Japan-focused logistics development fund. This marks the largest closed-end institutional fundraise for its real estate division, signaling strong investor confidence in Ares' strategy and the Japanese logistics market. The substantial capital infusion is expected to fuel significant development and acquisition activities within the sector, potentially leading to increased asset values and rental income for the fund. Investors in Ares stock may see this as a positive indicator of the firm's growth trajectory and its ability to attract large-scale capital.

  • 8/5/2026POSITIVE
    Ares Eyes $2 Billion Loan Deal in Private Credit’s Slow Year

    Ares Management Corp. is spearheading a substantial $2.2 billion direct loan facility to back a healthcare services acquisition. This significant transaction marks one of the largest deals in the private credit market since it experienced considerable redemptions earlier in the year. The move by Ares highlights continued activity and investor appetite for direct lending opportunities, even amidst broader market volatility. For investors in Ares, this deal underscores the firm's robust origination capabilities and its strategic positioning within the resilient private credit sector, potentially signaling strong fee-related earnings.

  • 7/27/2026NEUTRAL
    Ares Bundles €3 Billion of Private Credit for Secondaries Sale

    Ares Management Corp. is reportedly preparing to divest approximately €3 billion ($3.4 billion) in bundled stakes from its premier European direct-lending fund. This transaction is poised to become one of the most significant credit-secondaries deals recorded. The move signals Ares' strategy to unlock liquidity and potentially reallocate capital, which could be viewed positively by investors seeking efficient capital management. However, the direct impact on the company's valuation remains neutral until the deal's specifics and investor reception are fully understood.

  • 6/4/2026NEUTRAL
    Ares’ Jacobson Slams ‘Disconnect’ Over Private Credit Headlines

    Blair Jacobson, co-president of Ares Management Corporation, has voiced concerns about a "real disconnect" between negative media narratives surrounding private credit and the firm's actual portfolio performance. Jacobson indicated that despite prevailing headlines, Ares' portfolio companies are not reflecting the widespread distress suggested by some reports. This statement comes as the private credit market faces increased scrutiny. For investors, this suggests a potential divergence between market sentiment and underlying asset health, warranting a closer look at specific fund performance rather than broad sector generalizations.

  • 6/3/2026NEUTRAL
    Ares CEO Arougheti Says the Private Credit Market Isn't Broken

    Ares Management CEO Michael Arougheti stated that the private credit market is not fundamentally broken, attributing recent stresses to issues within the private equity sector rather than private credit itself. Speaking at the Forbes Iconoclast Summit in New York, Arougheti's comments suggest a resilience in the private credit landscape, differentiating it from broader private market challenges. This perspective could influence investor sentiment towards alternative asset managers and their credit offerings.

  • 6/3/2026NEGATIVE
    Ares Owed $547 Million After Collapse of Textor’s Eagle Football

    Ares Management Corp. is reportedly owed over $547 million following the financial collapse of John Textor's Eagle Football Group. This significant debt exposure, revealed in a filing by administrators, suggests a substantial financial setback for Ares. Investors will be monitoring the recovery prospects and the potential impact on Ares's earnings and liquidity. The situation highlights the risks associated with private credit and distressed asset investments, potentially leading to increased scrutiny of Ares's portfolio management and risk controls.

via Markets Gazette