Ares Management Corporation (ARES) quarterly income statement — complete revenue, gross profit & net income 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 |
|---|
| Sales/Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | 1.47B | 1.28B | 997.79M | 706.42M | 431.68M | 795.93M | 693.86M | 368.82M | 294.41M | 663.12M | 303.75M | 725.74M | 452.58M | 594.16M | 375.87M | 225.66M | 357.76M | 984.64M | 613.15M | 1.03B |
| Gross Margin % | 96.11% | 72.65% | 60.19% | 52.32% | 39.65% | 63.22% | 61.42% | 46.76% | 41.62% | 62.92% | 45.25% | 66.38% | 55.64% | 63.36% | 46.91% | 37.52% | 50.04% | 75.15% | 64.63% | 79.17% |
| Gross Profit Growth % | 241.39% | 61.17% | 43.8% | 91.53% | 46.62% | 20.03% | 128.43% | -49.18% | -34.95% | 11.6% | -19.19% | 221.61% | 26.51% | -39.66% | -38.7% | -77.99% | -16.13% | 118.69% | 107.43% | 145.47% |
| Operating Expenses | 1.11B | 765.69M | 648.38M | 493.87M | 357.2M | 517.71M | 419.01M | 144.69M | 125.54M | 379.66M | 193.46M | 470.19M | 267.86M | 342.87M | 472.68M | 177.09M | 254.44M | 721.45M | 477.7M | 755.04M |
| OpEx % of Revenue | 72.31% | 43.36% | 39.12% | 36.58% | 32.81% | 41.12% | 37.09% | 18.35% | 17.75% | 36.02% | 28.82% | 43.01% | 32.93% | 36.56% | 58.99% | 29.45% | 35.59% | 55.07% | 50.35% | 58.31% |
| Selling, General & Admin | 0 | 0 | 650.25M | 466.86M | 350.55M | 508.51M | 416.72M | 140.45M | 120.4M | 364.34M | 186.39M | 456.93M | 260M | 334.83M | 462.29M | 163.64M | 249.93M | 690.54M | 465.59M | 739.74M |
| SG&A % of Revenue | - | - | 39.23% | 34.58% | 32.2% | 40.39% | 36.89% | 17.81% | 17.02% | 34.57% | 27.77% | 41.79% | 31.97% | 35.71% | 57.69% | 27.21% | 34.96% | 52.71% | 49.08% | 57.13% |
| Research & Development | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income | 364.95M | 517.13M | 349.41M | 212.55M | 74.48M | 278.23M | 274.85M | 224.14M | 168.87M | 283.46M | 110.3M | 255.55M | 184.73M | 251.29M | -96.81M | 48.56M | 103.31M | 263.19M | 135.45M | 270.09M |
| Operating Margin % | 23.8% | 29.29% | 21.08% | 15.74% | 6.84% | 22.1% | 24.33% | 28.42% | 23.87% | 26.89% | 16.43% | 23.37% | 22.71% | 26.8% | -12.08% | 8.07% | 14.45% | 20.09% | 14.28% | 20.86% |
| Operating Income Growth % | 390.01% | 85.86% | 27.13% | -5.17% | -55.9% | -1.84% | 149.2% | -12.29% | -8.58% | 12.8% | 213.93% | 426.23% | 78.8% | -4.52% | -171.47% | -82.02% | -22.48% | 58.9% | 39.23% | 126.6% |
| EBITDA | 424.64M | 581.69M | 415.37M | 476.15M | 330.17M | 317.91M | 558.04M | 260.39M | 205.51M | 726.22M | 215.82M | 298.54M | 422.8M | 592.63M | 122.67M | 89.07M | 250.97M | 386.97M | 320.09M | 385.66M |
| EBITDA Margin % | 27.69% | 32.94% | 25.06% | 35.27% | 30.32% | 25.25% | 49.4% | 33.02% | 29.05% | 68.9% | 32.15% | 27.31% | 51.98% | 63.2% | 15.31% | 14.81% | 35.1% | 29.54% | 33.74% | 29.78% |
| EBITDA Growth % | 28.62% | 82.97% | -25.57% | 82.86% | 60.65% | -56.22% | 158.57% | -12.78% | -51.39% | 22.54% | 75.93% | 235.16% | 68.47% | 53.15% | -61.68% | -76.9% | -6.28% | 111.93% | 37.51% | 19.22% |
| D&A (Non-Cash Add-back) | 59.69M | 64.56M | 65.96M | 0 | 0 | 39.68M | 0 | 36.25M | 36.64M | 0 | 105.52M | 42.99M | 0 | 341.34M | 219.48M | 40.51M | 0 | 0 | 0 | 0 |
| EBIT | 502.48M | 392.75M | 855.29M | 476.15M | 330.17M | 646.44M | 558.04M | 572.44M | 476.74M | 726.22M | 454.21M | 590.71M | 422.8M | 508.32M | 70.69M | 163.54M | 250.97M | 386.97M | 320.09M | 385.66M |
| Net Interest Income | -76.97M | -58.02M | -58.55M | -19.55M | -11.4M | -22.43M | 11.3M | -7.74M | 16.97M | 47.43M | 33.01M | 28.4M | 45.1M | 29.27M | 29.43M | 22.38M | 32.13M | 29.01M | 32.3M | 52.48M |
| Interest Income | 112.59M | 128.08M | 144.47M | 169.66M | 177.73M | 224.13M | 242.23M | 247.38M | 262.66M | 290.55M | 260.35M | 237.14M | 226.78M | 194.78M | 160.5M | 118.85M | 121.79M | 107.12M | 105.4M | 118.36M |
| Interest Expense | 189.56M | 186.1M | 203.02M | 189.21M | 189.13M | 246.57M | 230.93M | 255.11M | 245.69M | 243.12M | 227.34M | 208.74M | 181.67M | 165.51M | 131.07M | 96.47M | 89.66M | 78.11M | 73.1M | 65.88M |
| Other Income/Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Pretax Income | 312.92M | 206.65M | 652.27M | 286.94M | 141.04M | 399.87M | 327.11M | 317.32M | 231.05M | 483.1M | 226.87M | 381.97M | 241.12M | 342.81M | -60.38M | 67.07M | 161.31M | 308.86M | 246.99M | 319.78M |
| Pretax Margin % | 20.41% | 11.7% | 39.35% | 21.25% | 12.95% | 31.76% | 28.95% | 40.23% | 32.66% | 45.84% | 33.8% | 34.94% | 29.65% | 36.56% | -7.54% | 11.15% | 22.56% | 23.57% | 26.03% | 24.7% |
| Income Tax | 59.87M | 8.15M | 111.89M | 60.96M | 17.54M | 49.86M | 46.45M | 41.07M | 27.23M | 59.55M | 29.9M | 49.71M | 33.81M | 49.62M | -11.6M | 13.46M | 20.41M | 42.9M | 30.27M | 48.46M |
| Effective Tax Rate % | 19.13% | 3.94% | 17.15% | 21.24% | 12.43% | 12.47% | 14.2% | 12.94% | 11.79% | 12.33% | 13.18% | 13.02% | 14.02% | 14.47% | 19.21% | 20.07% | 12.65% | 13.89% | 12.26% | 15.15% |
| Net Income | 142.59M | 54.25M | 288.88M | 137.06M | 47.17M | 177.32M | 118.46M | 94.94M | 73.03M | 173.95M | 61.82M | 144.51M | 94.04M | 117.49M | -35.55M | 39.73M | 45.86M | 124.09M | 84.73M | 141.64M |
| Net Margin % | 9.3% | 3.07% | 17.43% | 10.15% | 4.33% | 14.08% | 10.49% | 12.04% | 10.32% | 16.5% | 9.21% | 13.22% | 11.56% | 12.53% | -4.44% | 6.61% | 6.41% | 9.47% | 8.93% | 10.94% |
| Net Income Growth % | 202.29% | -69.41% | 143.86% | 44.37% | -35.41% | 1.94% | 91.61% | -34.31% | -22.34% | 48.05% | 273.92% | 263.73% | 105.04% | -5.32% | -141.95% | -71.95% | -21.44% | 56.56% | 78.2% | 151.27% |
| Net Income (Continuing) | 253.05M | 198.5M | 540.38M | 225.98M | 123.5M | 350.02M | 280.65M | 276.25M | 203.81M | 423.55M | 196.97M | 332.25M | 207.32M | 293.19M | -48.78M | 53.61M | 140.9M | 265.96M | 216.71M | 271.32M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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 |
| EPS (Diluted) | 0.64 | 0.13 | 1.15 | 0.46 | 0.05 | 0.68 | 0.55 | 0.45 | 0.34 | 0.86 | 0.30 | 0.74 | 0.50 | 0.60 | -0.22 | 0.21 | 0.24 | 0.66 | 0.45 | 0.69 |
| EPS Growth % | 1112.12% | -80.88% | 109.09% | 2.22% | -84.47% | -20.93% | 83.33% | -39.19% | -32% | 43.33% | 236.36% | 252.38% | 108.33% | -9.09% | -148.89% | -69.57% | -25% | 37.5% | 66.67% | 97.14% |
| EPS (Basic) | 0.52 | 0.13 | 1.15 | 0.46 | 0.05 | 0.72 | 0.55 | 0.45 | 0.34 | 0.88 | 0.30 | 0.77 | 0.50 | 0.64 | -0.22 | 0.21 | 0.24 | 0.70 | 0.49 | 0.71 |
| Diluted Shares Outstanding | 224.03M | 221.14M | 219.88M | 218.92M | 209.35M | 215.08M | 200.72M | 196.19M | 192.62M | 189.76M | 186.22M | 194.06M | 178.98M | 189.83M | 175.63M | 175.16M | 174.22M | 188.93M | 186.52M | 181.03M |
| Basic Shares Outstanding | 224.03M | 221.14M | 219.88M | 218.92M | 209.35M | 202.6M | 200.72M | 196.19M | 192.62M | 189.76M | 186.22M | 183M | 178.98M | 175.51M | 175.63M | 175.16M | 174.22M | 163.7M | 168.93M | 164.79M |
| Dividend Payout Ratio | 366.61% | 847.5% | 146.66% | 312.39% | 943.58% | 192.61% | 476.05% | 328.86% | 438.26% | 155.55% | 403.71% | 179.13% | 267.58% | 194.18% | - | 489.49% | 462% | 68.09% | 97.14% | 103.36% |