Ares Management Corp

Finance
Investment Managers
www.aresmgmt.com

Earnings Score
Moat Score

Market Cap $54.98B
PE 119
Debt $NaN
Cash $350.14M
EV $NaN
FCF $NaN

Earnings

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Sales & Net Margins

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Earnings	$460.38M
EBIT	$1.36B
ROE	9%
ROA	6%
Equity	$5.31B
Growth Stability	51%
PE	119.42
PEG	1.98
PB	10.35
P/S	15.39
Price/Cash	0.01
Net Margins	12%
Op. Margins	38%
Earnings CAGR	38%
Sales Growth YoY	24%
Sales Growth QoQ	-4%
Sales CAGR	17%
Equity CAGR	13%
Earnings Stability	0.45

Earnings Growth YoY	92%
Earnings Growth QoQ	25%
Earnings CAGR 5Y	60%
Sales CAGR 5Y	22%
Equity CAGR 5Y	23%
Earnings CAGR 3Y	17%
Sales CAGR 3Y	17%
Equity CAGR 3Y	14%
Market Cap	$54.98B
Revenue	$3.57B
Assets	$24.52B
Cash	$350.14M
Shares Outstanding	313M
Earnings Score	68%
Moat Score	82%
Shares Growth 3y	3%
Equity Growth QoQ	2%
Equity Growth YoY	32%

Assets & ROA

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Stockholders Equity & ROE

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Ares Management Corp is an asset management company based in the United States. It offers investors investment-related advice and strategies for capital growth. The company's operating segments include Credit Group, Private Equity Group, the Real Estate Group, Secondary Solutions Group and Strategic Initiatives. Its Credit Group generates maximum revenue, manages credit strategies across the liquid and illiquid spectrum. Private Equity Group manages investment strategies categorized as corporate private equity, infrastructure and power, and special opportunities, Real Estate Group is engaged in managing real estate equity and debt strategies. The Secondary Solutions Group invests in secondary markets across a range of asset class including private equity, real estate, and infrastructure.

SEC Filings

Direct access to Ares Management Corp (ARES) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Ares Management Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Ares Management Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 38%

Stability 45%

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Ares Management Corp Discounted Cash Flow

Fully customizable DCF calculator online for Ares Management Corp.

Years

Calculation mode

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
DCF		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Value	$0

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	2%	8%	4%	2%	9%	7%	17%	6%	15%	12%
ROA	-	5%	2%	-	-	3%	5%	2%	5%	6%
ROE	2%	7%	3%	2%	7%	5%	10%	4%	11%	9%

Good Net Margins (11.68%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-	-	-	-	-
Growth Stability	-	-	-	51%	100%	100%	100%	78%	100%	51%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (51%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	47%	18%	-14%	18%	22%	31%	26%	12%	22%
Earnings YoY growth	-	426%	-48%	-44%	348%	3%	196%	-57%	183%	60%
Equity YoY growth	-	42%	6%	-5%	33%	33%	54%	-0%	18%	23%
FCF YoY growth	-	18%	197%	-24%	46%	-	-	-	-	-