Ares Management Corp

Finance
Investment Managers
www.aresmgmt.com

Earnings Score
Moat Score

Market Cap $50.30B
PE 114
Debt -
Cash $1.51B
EV -
FCF -

Earnings

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Sales & Net Margins

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Earnings	$440.96M
EBIT	$1.28B
ROE	6%
ROA	5%
Equity	$6.82B
Growth Stability	51%
PE	114.07
PEG	1.79
PB	7.37
P/S	13.63
Price/Cash	0.03
Net Margins	12%
Op. Margins	35%
Earnings CAGR	37%
Sales Growth YoY	11%
Sales Growth QoQ	47%
Sales CAGR	17%
Equity CAGR	21%
Earnings Stability	0.43

Earnings Growth YoY	-11%
Earnings Growth QoQ	30%
Earnings CAGR 5Y	64%
Sales CAGR 5Y	22%
Equity CAGR 5Y	23%
Earnings CAGR 3Y	16%
Sales CAGR 3Y	16%
Equity CAGR 3Y	22%
Market Cap	$50.30B
Revenue	$3.69B
Assets	$24.88B
Cash	$1.51B
Shares Outstanding	313.17M
Earnings Score	63%
Moat Score	77%
Shares Growth 3y	3%
Equity Growth QoQ	29%
Equity Growth YoY	53%

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-K Dec 31
- 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 37%

Stability 43%

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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	12/2024	TTM
Net Margins	2%	8%	4%	2%	9%	7%	17%	6%	15%	12%	12%
ROA	-	5%	2%	-	-	3%	5%	2%	5%	5%	5%
ROE	-	7%	3%	2%	7%	5%	10%	4%	11%	6%	6%

Good Net Margins (11.95%)

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	12/2024	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-	-	-	-	-	-
Growth Stability	-	-	-	51%	100%	100%	100%	78%	100%	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	12/2024	CAGR 5Y
Revenue YoY growth	-	47%	18%	-14%	18%	22%	31%	26%	12%	14%	22%
Earnings YoY growth	-	426%	-48%	-44%	348%	3%	196%	-57%	183%	-7%	64%
Equity YoY growth	-	42%	6%	-5%	33%	33%	54%	-0%	18%	53%	23%
FCF YoY growth	-	18%	197%	-24%	46%	-	-	-	-	-	-