Ares Management (ARES) stock
Financials · Asset Management & Custody Banks
Ares Management (ARES) is an Asset Management & Custody Banks company in the Financials sector, headquartered in Los Angeles, California. As of October 23, 2026, ARES closed at $122.08, a market capitalization of $40.50 billion, the 271st largest company in the S&P 500. Over the last twelve months it generated $5.25 billion in revenue (+10% year over year) and $836.15 million in free cash flow. The stock trades at 56.3x trailing earnings and 17.2x forward earnings.
- 1-year total return: -14.4% (dividends reinvested)
- 5-year return: +11.9% a year
- 52-week range: $95.80 – $181.19
- Gross margin 100.0%, operating margin 9.5%
- Dividend yield: 4.42%, 11 straight years of increases
- FI Handbook report card: C+ across 9 metrics
- 45th largest of 76 Financials stocks in the S&P 500
ARES price chart
1Y price change: -17.8% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| ARES | +0.5% | -21.9% | -14.4% | +9.9% | +11.9% | +26.8% | +21.3% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2014.
ARES key statistics
- Market cap
- $40.5B
- #271 in S&P 500
- P/E (TTM)
- 56.3x
- Forward P/E
- 17.2x
- EPS (TTM)
- $2.17
- Revenue (TTM)
- $5.3B
- +10%
- Free cash flow
- $836.1M
- Gross margin
- 100.0%
- Operating margin
- 9.5%
- Return on equity
- 14.9%
- Dividend yield
- 4.42%
- 52-week range
- $95.80 – $181.19
- Beta
- 1.55
- Price / sales
- 7.7x
- EV / EBITDA
- 32.8x
- Debt / equity
- 1.72x
- Employees
- 4,343
ARES report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth9.6%C
- Gross margin100.0%A
- Operating margin9.5%D
- FCF margin15.9%B
- Return on equity14.9%C
- Net debt / EBITDA9.1xF
- Forward P/E17.2xB
- PEG ratio0.9xA
- Shareholder yield4.4%B
- Share count change / yr——
Ares Management financials
Revenue went from $964.8M in fiscal 2016 to $5.6B in fiscal 2025, growing 21.6% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $964.8M | $1.5B | $958.5M | $1.8B | $1.8B | $4.2B | $3.1B | $3.6B | $3.9B | $5.6B |
| Net income | $111.8M | $76.2M | $57.0M | $148.9M | $152.1M | $408.8M | $167.5M | $474.3M | $463.7M | $527.4M |
| Free cash flow | -$637.6M | -$1.9B | -$1.4B | — | — | — | — | — | — | — |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into ARES?
A reverse DCF asks what growth the current price requires. With an enterprise value of $53.5B and $836.1M of trailing free cash flow, Ares Management needs to grow free cash flow about 41.4% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
ARES dividend
- Dividend yield
- 4.42%
- Annual dividend
- $5.40
- Years of increases
- 11
- 5-yr dividend growth
- 22.9%
- per year
- Payout ratio
- 228%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
ARES analyst price targets
20 analysts' average 12-month target is $144.90 (+19% vs. $122.08). Targets range from $119.00 to $168.00. 65% rate it a buy.
ARES earnings
Next report: October 29, 2026. Ares Management has beaten EPS estimates 1 quarters in a row. Last quarter's revenue was $1.4B (+6% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 31, 2026 | $1.27 | $1.29 | +1.4% |
| May 1, 2026 | $1.33 | $1.24 | -6.6% |
| Feb 5, 2026 | $1.69 | $1.45 | -14.0% |
| Nov 3, 2025 | $1.14 | $1.19 | +4.0% |
| Aug 1, 2025 | $1.09 | $1.03 | -5.8% |
| May 5, 2025 | $0.94 | $1.09 | +15.9% |
| Feb 5, 2025 | $1.30 | $1.23 | -5.2% |
| Nov 1, 2024 | $0.94 | $0.95 | +0.8% |
Stocks like ARES
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 BLK BlackRock | -1.67% | +2% | $181.7B | 25.5x | Compare |
 BX Blackstone | -0.66% | -21% | $141.0B | 26.3x | Compare |
 BNY Bank of New York Mellon Cor | -0.03% | +39% | $97.8B | 16.1x | Compare |
 KKR KKR | -1.88% | -24% | $84.4B | 29.2x | Compare |
 APO Apollo Global Management | -1.74% | -7% | $66.6B | 40.4x | Compare |
 STT State Street | -0.01% | +50% | $45.8B | 13.7x | Compare |
 AMP Ameriprise Financial | -0.93% | +4% | $43.5B | 11.9x | Compare |
 NTRS Northern Trust | +1.27% | +37% | $30.7B | 13.2x | Compare |
ARES news
- Ares Management Q3 Earnings Preview: Can A $114B Secret Weapon Save The Stock on Oct. 29? · Oct 25, 2026
- Ares Management (ARES) Reports Next Week: Wall Street Expects Earnings Growth · Oct 22, 2026
- Norges Bank Commits €1.5B To European Logistics With Ares Collab · Oct 21, 2026
- Ares and Norges Bank Investment Management Establish up to €1.5 Billion European Logistics Investment Partnership · Oct 21, 2026
- KKR to Sell Infinity Transportation to Ares for $2.9 Billion · Oct 19, 2026
ARES stock FAQ
What is ARES's market cap?
Ares Management's market capitalization is $40.50 billion as of October 23, 2026, ranking 271st in the S&P 500.
What is ARES's P/E ratio?
ARES trades at a trailing price-to-earnings ratio of 56.3x and a forward P/E of 17.2x.
Does ARES pay a dividend?
Yes. Ares Management pays $5.40 per share a year, a 4.42% yield. It has raised its dividend 11 years in a row. Dividends grew 22.9% a year over the last five years.
How much has ARES stock returned?
Including reinvested dividends, ARES returned -14.4% over one year, +11.9% a year over five years, +26.8% a year over ten years through October 23, 2026.
Is ARES stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Ares Management must grow free cash flow about 41% a year for the next decade. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the ARES price target?
20 analysts cover ARES with an average 12-month price target of $144.90, +19% from the current price. 65% of them rate it a buy.
When does ARES report earnings?
Ares Management is expected to report earnings on October 29, 2026. It has beaten EPS estimates 1 quarters in a row.
How many employees does Ares Management have?
Ares Management has about 4,343 full-time employees, or $1.2 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology