Ares Management Corp (ARES) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	6.2B	6.5B	3.9B	3.6B	3.1B
Cost of Revenue	2.0B	1.6B	1.7B	1.5B	1.5B
Gross Profit	4.2B	4.8B	2.2B	2.1B	1.6B
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	—	—	1.2B	1.3B	1.2B
General & Admin Expense	—	—	1.2B	1.3B	1.2B
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	2.7B	3.1B	20.9M	43.5M	36.4M
Total Operating Expenses	2.7B	3.1B	1.2B	1.3B	1.3B
Cost and Expenses	4.7B	4.7B	2.9B	2.8B	2.7B
Operating Income (EBIT)	1.5B	1.8B	946.1M	834.0M	306.4M
Non-Operating
Interest Income	467.8M	670.9M	976.4M	1.0B	595.9M
Interest Expense	782.7M	767.5M	978.3M	860.9M	482.7M
Net Interest Income	(314.9M)	(96.6M)	(1.9M)	153.9M	113.2M
Other Non-Op Income/Expense	(348.7M)	(474.5M)	329.3M	499.0M	204.4M
Non-Operating Income (excl Interest)	(434.0M)	(293.0M)	(1.3B)	(1.4B)	(687.2M)
EBT (Pre-Tax Income)	1.1B	1.3B	1.3B	1.3B	510.8M
Income Tax Expense	177.2M	198.5M	164.6M	173.0M	71.9M
Bottom Line
Net Income	432.8M	527.4M	463.7M	474.3M	167.5M
Earnings from Cont. Ops	969.9M	1.1B	1.1B	1.2B	438.9M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	382.2M	426.1M	410.2M	474.3M	153.4M
Per Share
Basic EPS	$1.40	$1.96	$2.07	$2.46	$0.87
Diluted EPS	$1.52	$1.96	$2.07	$2.42	$0.87
Revenue Per Share	$27.43	$29.77	$19.61	$19.68	$17.41
Shares
Basic Shares Outstanding	227.5M	217.4M	198.1M	184.5M	175.5M
Diluted Shares Outstanding	227.5M	217.4M	198.1M	195.8M	175.5M
Profitability Metrics
EBITDA	2.1B	2.3B	2.4B	2.4B	1.3B
D&A	184.8M	243.1M	158.6M	231.7M	341.3M
EBIT	1.9B	2.1B	2.3B	2.2B	993.5M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Sep 1, 2026