Ares Management Corporation (ARES) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 2.88B | 3.35B | 8.93B | 2.86B | 3.07B | 4.25B | 2.71B | 2.52B | 2.61B | 2.77B | 2.05B | 1.94B | 2.05B | 2.2B | 1.8B | 1.83B | 1.63B | 2.55B | 2.57B | 2.06B |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | 80.91 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 0 | -51.98M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 25.51B | 25.64B | 18.1B | 24.41B | 24.11B | 20.64B | 21.81B | 21.67B | 21.8B | 21.96B | 21.33B | 21.18B | 19.88B | 19.8B | 19.4B | 19.39B | 19.5B | 19.05B | 17.37B | 16.58B |
| Property, Plant & Equipment | 564.57M | 517.35M | 526.04M | 540.46M | 546.81M | 688.99M | 426.48M | 231.52M | 237.02M | 371.55M | 259.54M | 170.91M | 154.97M | 235.63M | 159.69M | 153.93M | 161.09M | 238.91M | 176.51M | 166.89M |
| Fixed Asset Turnover | 2.83x | 3.38x | 3.11x | 2.48x | 1.76x | 2.26x | 3.43x | 3.37x | 2.32x | 3.34x | 3.12x | 6.71x | 4.16x | 4.74x | 5.11x | 3.82x | 3.57x | 6.31x | 5.53x | 7.97x |
| Goodwill | 3.46B | 3.45B | 3.44B | 3.44B | 3.5B | 1.16B | 1.13B | 1.13B | 1.13B | 1.12B | 997.8M | 998.02M | 998.94M | 999.66M | 996.74M | 998.44M | 1B | 787.97M | 787.75M | 787.75M |
| Intangible Assets | 2.14B | 2.12B | 2.17B | 2.22B | 2.28B | 975.83M | 969.98M | 1B | 1.03B | 1.06B | 1.03B | 1.13B | 1.17B | 1.21B | 1.24B | 1.45B | 1.49B | 1.42B | 1.45B | 902.67M |
| Long-Term Investments | 18.25B | 12.84B | 11.06B | 17.24B | 16.87B | 17.38B | 18.55B | 18.63B | 18.8B | 19.23B | 18.66B | 18.56B | 17.23B | 17.18B | 16.69B | 16.48B | 16.52B | 16.5B | 14.68B | 14.51B |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 28.39B | 28.99B | 27.03B | 27.26B | 27.18B | 24.88B | 24.52B | 24.19B | 24.41B | 24.73B | 23.38B | 23.12B | 21.93B | 22B | 21.21B | 21.23B | 21.13B | 21.61B | 19.93B | 18.64B |
| Asset Turnover | 0.05x | 0.06x | 0.06x | 0.05x | 0.04x | 0.05x | 0.05x | 0.03x | 0.03x | 0.04x | 0.03x | 0.05x | 0.04x | 0.04x | 0.04x | 0.03x | 0.03x | 0.06x | 0.05x | 0.07x |
| Asset Growth % | 4.46% | 16.51% | 10.23% | 12.7% | 11.34% | 0.62% | 4.87% | 4.64% | 11.33% | 12.4% | 10.27% | 8.92% | 3.77% | 1.84% | 6.38% | 13.88% | 27.79% | 42.43% | 33.53% | 35.86% |
| Total Current Liabilities | 57.99M | 1.49B | 5.8B | 5.18B | 5.34B | 4.33B | 4.09B | 3.78B | 3.9B | 3.79B | 3.77B | 3.82B | 3.62B | 3.42B | 3.52B | 3.59B | 3.54B | 4.02B | 3.36B | 3.4B |
| Accounts Payable | 0 | 0 | 1.04B | 1.02B | 996.78M | 686.97M | 508.81M | 444.82M | 452.11M | 423.41M | 507.82M | 492.49M | 448.8M | 400.21M | 427.13M | 356.16M | 357.18M | 382.93M | 297.83M | 237.35M |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 57.99M | 1.49B | 785.28M | 667.01M | 603.31M | 275M | 273M | 137.24M | 78.24M | 125.24M | 0 | 0 | 77.5M | 168.05M | 149.55M | 155.37M | 145.09M | 127.77M | 99.24M | 122.41M |
| Deferred Revenue (Current) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio | 49.67x | 2.24x | 1.54x | 0.55x | 0.58x | 0.98x | 0.66x | 0.67x | 0.67x | 0.73x | 0.54x | 0.51x | 0.57x | 0.64x | 0.51x | 0.51x | 0.46x | 0.63x | 0.76x | 0.61x |
| Quick Ratio | 49.67x | 2.24x | 1.54x | 0.55x | 0.58x | 0.98x | 0.66x | 0.67x | 0.67x | 0.73x | 0.54x | 0.51x | 0.57x | 0.64x | 0.51x | 0.51x | 0.46x | 0.63x | 0.76x | 0.61x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 19.95B | 18.8B | 12.62B | 13.82B | 13.63B | 13.73B | 15.12B | 15.22B | 16.03B | 16.47B | 15.6B | 15.31B | 14.22B | 14.78B | 14.22B | 13.96B | 13.92B | 13.77B | 13.04B | 11.8B |
| Long-Term Debt | 13.42B | 12.77B | 11.26B | 12.12B | 12.07B | 12.23B | 13.61B | 14.06B | 14.95B | 15.31B | 13.88B | 13.83B | 13.22B | 12.98B | 12.33B | 12.28B | 12.34B | 12.16B | 11.41B | 10.38B |
| Capital Lease Obligations | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 20.01B | 20.29B | 18.43B | 19.01B | 18.97B | 18.06B | 19.21B | 19B | 19.94B | 20.26B | 19.37B | 19.13B | 17.85B | 18.2B | 17.74B | 17.56B | 17.46B | 17.79B | 16.39B | 15.2B |
| Total Debt | 14.15B | 14.91B | 12.73B | 13.47B | 13.36B | 13.15B | 14.42B | 14.5B | 15.34B | 15.76B | 14.21B | 14.03B | 13.49B | 13.33B | 12.68B | 12.62B | 12.68B | 12.49B | 11.73B | 10.71B |
| Net Debt | 12.71B | 13.41B | 11.23B | 11.94B | 11.55B | 10.41B | 12.76B | 12.97B | 13.79B | 14.26B | 13.01B | 12.94B | 12.46B | 12.22B | 11.63B | 11.55B | 11.85B | 11.1B | 9.85B | 9.27B |
| Debt / Equity | 1.69x | 1.71x | 1.48x | 1.63x | 1.63x | 1.93x | 2.72x | 2.79x | 3.43x | 3.52x | 3.54x | 3.51x | 3.31x | 3.51x | 3.66x | 3.44x | 3.46x | 3.28x | 3.31x | 3.11x |
| Debt / EBITDA | 33.32x | 25.64x | 30.64x | 28.29x | 40.45x | 41.36x | 25.84x | 55.69x | 74.64x | 21.70x | 65.84x | 47.00x | 31.90x | 22.50x | 103.33x | 141.70x | 50.53x | 32.29x | 36.64x | 27.76x |
| Net Debt / EBITDA | 29.93x | 23.06x | 27.03x | 25.07x | 34.99x | 32.75x | 22.86x | 49.83x | 67.12x | 19.63x | 60.29x | 43.36x | 29.47x | 20.62x | 94.80x | 129.61x | 47.23x | 28.69x | 30.77x | 24.05x |
| Interest Coverage | 2.65x | 2.11x | 4.21x | 2.52x | 1.75x | 2.62x | 2.42x | 2.24x | 1.94x | 2.99x | 2.00x | 2.83x | 2.33x | 3.07x | 0.54x | 1.70x | 2.80x | 4.95x | 4.38x | 5.85x |
| Total Equity | 8.36B | 8.7B | 8.61B | 8.26B | 8.21B | 6.82B | 5.31B | 5.2B | 4.48B | 4.47B | 4.02B | 3.99B | 4.08B | 3.8B | 3.47B | 3.67B | 3.67B | 3.81B | 3.54B | 3.44B |
| Equity Growth % | 1.8% | 27.51% | 62.07% | 58.88% | 83.42% | 52.52% | 32.15% | 30.17% | 9.75% | 17.79% | 15.88% | 8.84% | 11.23% | -0.41% | -2.06% | 6.6% | 51.52% | 54.32% | 49.33% | 71.73% |
| Book Value per Share | 37.31 | 39.35 | 39.14 | 37.72 | 39.23 | 31.73 | 26.46 | 26.49 | 23.24 | 23.58 | 21.58 | 20.57 | 22.79 | 20.01 | 19.74 | 20.94 | 21.05 | 20.19 | 18.98 | 19.01 |
| Total Shareholders' Equity | 4.03B | 4.28B | 4.47B | 4.36B | 4.45B | 3.54B | 2.08B | 2B | 1.77B | 1.89B | 1.73B | 1.75B | 1.67B | 1.59B | 1.51B | 1.64B | 1.69B | 1.83B | 1.75B | 1.62B |
| Common Stock | 3.3M | 3.24M | 3.27M | 3.27M | 3.27M | 3.13M | 3.1M | 3.13M | 3.1M | 3.08M | 3.06M | 3.04M | 3.02M | 2.95M | 2.94M | 2.94M | 2.94M | 2.9M | 2.9M | 2.84M |
| Retained Earnings | -1.66B | -1.45B | -1.22B | -1.22B | -1.07B | -837.29M | -792.4M | -712.86M | -612.56M | -495.08M | -515.35M | -425.53M | -420.82M | -369.48M | -374.2M | -226.7M | -154.93M | -89.38M | -128.98M | -131.4M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 13.99M | 21.74M | 29.76M | 32.2M | 24.34M | -17.76M | 8.45M | -10.48M | -10.48M | -5.63M | -17.27M | -9.69M | -12.35M | -14.99M | -28.82M | -17.19M | -6.02M | -1.85M | -2.57M | 696K |
| Minority Interest | 4.36B | 4.43B | 4.13B | 3.9B | 3.76B | 3.28B | 3.23B | 3.2B | 2.71B | 2.58B | 2.29B | 2.24B | 2.41B | 2.21B | 1.96B | 2.03B | 1.97B | 1.99B | 1.79B | 1.82B |