Ares Management
Manages credit-led alternative investment strategies across private markets and real assets.
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Profile
Manages alternative investment funds and accounts across credit, real assets, secondaries and private equity, earning management fees and performance-linked income. Credit is the dominant franchise, while insurance and wealth channels broaden its capital base and product distribution.
Manages alternative investment funds and accounts through Credit, Real Assets, Secondaries and Private Equity. Credit is the dominant franchise, spanning direct lending, liquid and alternative credit, opportunistic strategies and structured finance.
Invests in real estate and infrastructure, including industrial property, data centers, power and infrastructure debt. Secondaries buys fund interests and structures liquidity across private equity, real estate, infrastructure and credit; Private Equity targets middle-market companies. Local teams source and underwrite investments across the Americas, Europe, Asia Pacific and the Middle East.
Insurance solutions serves insurers, while the wealth platform broadens product distribution. Revenue comes from management fees and performance-linked carried interest and incentive fees. Results depend on fundraising, deployment, asset performance and realizations; some advisory agreements require annual renewal or allow termination on short notice.
Company facts
Categories
Key statistics
Year to date −14.3% · Average volume (30d) 2.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 3, 2026 | RBC Capital | Reiterate | Outperform | $173 | $168 |
| Aug 3, 2026 | Deutsche Bank | Reiterate | Buy | $155 | $144 |
| Aug 3, 2026 | Oppenheimer | Reiterate | Outperform | $215 | $151 |
| Aug 3, 2026 | BMO Capital | Reiterate | Market Perform | $128 | $134 |
| Jul 21, 2026 | Morgan Stanley | Target | $163 | $160 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 31, 2026Q2 FY26 | $1.28 | $1.29 | +0.8% | $1.24B | $1.43B | +15.6% | +3.20% |
| May 1, 2026Q1 FY26 | $1.33 | $1.24 | −6.8% | $1.28B | $1.29B | +0.9% | +0.82% |
| Feb 5, 2026Q4 FY25 | $1.69 | $1.45 | −14.2% | $1.49B | $1.50B | +0.7% | +7.05% |
| Nov 3, 2025Q3 FY25 | $1.15 | $1.19 | +3.5% | $1.06B | $1.66B | +57.0% | −1.60% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.09B | $1.35B | $1.66B | $1.77B | $1.53B | $1.43B | |
| Gross profit | $431.7M | $706.4M | $997.8M | $1.28B | $1.47B | $248.6M | |
| Operating income | $74.5M | $212.6M | $349.4M | $517.1M | $364.9M | $248.6M | |
| Net income | $47.2M | $137.1M | $288.9M | $54.2M | $142.6M | $150.6M | |
| Diluted EPS | $0.05 | $0.46 | $1.15 | $0.13 | $0.64 | $0.49 | |
| Gross margin | 39.6% | 52.3% | 60.2% | 72.6% | 96.1% | 17.4% | |
| Operating margin | 6.8% | 15.7% | 21.1% | 29.3% | 23.8% | 17.4% |
Fiscal years (4-quarter sums)FY21 $4.21B · FY22 $3.06B · FY23 $3.63B · FY24 $3.88B · FY25 $5.86B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.85B · Total debt $14.87B · Total assets $29.63B · Shareholders' equity $3.97B
Dividends
Raised for 9 straight years — most recently to $1.35 from $1.12 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 16, 2026 | Jun 16 | Jun 30 | $1.35 | |
| Mar 17, 2026 | Mar 17 | Mar 31 | $1.35 | raised from $1.12 |
| Dec 17, 2025 | Dec 17 | Dec 31 | $1.12 | |
| Sep 16, 2025 | Sep 16 | Sep 30 | $1.12 | |
| Jun 16, 2025 | Jun 16 | Jun 30 | $1.12 | |
| Mar 17, 2025 | Mar 17 | Mar 31 | $1.12 | raised from $0.93 |
| Dec 17, 2024 | Dec 17 | Dec 31 | $0.93 | |
| Sep 16, 2024 | Sep 16 | Sep 30 | $0.93 |
Ownership
Shares outstanding 328.41M · Float 324.74M · 98.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Antony P. Ressler | 111.69M | 34.20% | 13G | Feb 17, 2026 |
| Ares Partners Holdco LLC | 109.36M | 33.40% | 13G | Feb 17, 2026 |
| BlackRock, Inc. | 16.88M | 5.14% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 13.75M | 4.19% | 13F | Aug 13, 2026 |
| Sumitomo Mitsui Financial Group, Inc. | 13.36M | 4.07% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Feb 20, 2026 | Judy D. Olian | director | +480 | $124.43 |
| Feb 6, 2026 | Ashish Bhutani | director | +10,000 | $126.61 |
| Feb 4, 2026 | Aghili Naseem Sagati | officer: General Counsel | −3,921 | $134.92 |
| Jan 22, 2026 | Aghili Naseem Sagati | officer: General Counsel | −1,849 | $161.84 |
| Dec 1, 2025 | Michael J. Arougheti | director, officer: Co-Founder and CEO | −56,257 | $157.26 |
Peers
- Apollo Global Management
Closest structural peer: credit-first DNA, parallel insurance platform Athene.
- Blackstone
Largest global alt manager with $1.27T AUM competing across every Ares segment.
- KKR
$744B AUM global alt manager; Global Atlantic insurance parallels Ares Aspida.
- Brookfield Asset Management
Real-assets-dominant $1T+ AUM manager; infrastructure and logistics overlap.
- The Carlyle Group
PE-heritage $477B AUM manager; credit and AlpInvest secondaries contest Ares.
- Blue Owl Capital
Direct lending specialist $307B AUM; deepest overlap in Ares credit segment.
- TPG
$303B AUM alt manager; Angelo Gordon credit acquisition deepened Ares overlap.
- Hamilton Lane
Secondaries and advisory specialist; competes with Ares Landmark Partners.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ares Management | $142.53 | +0.04% | $46.81B | 59.1 | 21.9 | 7.3 | +5.8% |
| Apollo Global Management | $135.48 | +0.35% | $77.78B | 30.2 | 13.8 | 2.2 | +63.7% |
| Blackstone | $142.86 | +0.35% | $171.97B | 31.6 | 22.2 | 10.7 | +2.4% |
| KKR | $108.40 | −0.21% | $97.58B | 34.2 | 16.3 | 4.6 | −44.8% |
| Brookfield Asset Management | $51.52 | −1.14% | $83.22B | 30.3 | 25.6 | 15.4 | +58.7% |
| The Carlyle Group | $49.09 | −0.02% | $17.67B | 51.0 | 11.9 | 4.5 | −29.3% |
| Blue Owl Capital | $12.04 | +0.12% | $18.79B | 101.2 | 13.0 | 6.3 | +7.1% |
| TPG | $53.97 | +0.03% | $20.69B | 62.0 | 16.9 | 4.4 | −31.8% |
| Hamilton Lane | $102.81 | −3.02% | $5.89B | 16.2 | 15.4 | 6.9 | +56.5% |
| Median | 32.9 | 15.8 | 5.5 | +4.8% |