Ares Management Corp — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that Ares Management Corp filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Revenue
Total revenue from all business activities — the top line of the income statement. Represents all money earned before any expenses are deducted.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $4.76B | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $3.69B | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | $3.24B | Feb 25, 2026 |
| FY2023 | Mar 31, 2023 | $653.68M | May 8, 2023 |
| FY2024 | Dec 31, 2022 | $2.88B | Feb 27, 2025 |
| FY2023 | Mar 31, 2022 | $553.48M | May 8, 2023 |
| FY2023 | Dec 31, 2021 | $2.29B | Feb 27, 2024 |
| FY2022 | Dec 31, 2020 | $1.75B | Feb 24, 2023 |
| FY2021 | Dec 31, 2019 | $1.43B | Feb 28, 2022 |
| FY2020 | Dec 31, 2018 | $1.22B | Feb 25, 2021 |
Revenue
Revenue recognized from contracts with customers under ASC 606, excluding taxes collected on behalf of government authorities. This is the primary revenue concept for many companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $5.60B | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $3.88B | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | $3.63B | Feb 25, 2026 |
| FY2023 | Mar 31, 2023 | $813.36M | May 8, 2023 |
| FY2024 | Dec 31, 2022 | $3.06B | Feb 27, 2025 |
| FY2023 | Mar 31, 2022 | $715.00M | May 8, 2023 |
| FY2023 | Dec 31, 2021 | $4.21B | Feb 27, 2024 |
| FY2022 | Dec 31, 2020 | $1.76B | Feb 24, 2023 |
| FY2019 | Dec 31, 2019 | $436.93M | Feb 28, 2020 |
| FY2019 | Sep 30, 2019 | $466.49M | Feb 28, 2020 |
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $527.36M | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $463.74M | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | $474.33M | Feb 25, 2026 |
| FY2024 | Dec 31, 2022 | $167.54M | Feb 27, 2025 |
| FY2023 | Dec 31, 2021 | $408.84M | Feb 27, 2024 |
| FY2022 | Dec 31, 2020 | $152.14M | Feb 24, 2023 |
| FY2019 | Dec 31, 2019 | $38.47M | Feb 28, 2020 |
| FY2019 | Sep 30, 2019 | $33.33M | Feb 28, 2020 |
| FY2019 | Jun 30, 2019 | $32.14M | Feb 28, 2020 |
| FY2019 | Mar 31, 2019 | $44.95M | Feb 28, 2020 |
SG&A Expense
Selling, general, and administrative expenses — the overhead costs of running the business, including salaries, marketing, legal fees, and corporate office costs. Excludes COGS and R&D.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $996.08M | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $736.50M | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | $660.15M | Feb 25, 2026 |
| FY2023 | Mar 31, 2023 | $148.35M | May 8, 2023 |
| FY2024 | Dec 31, 2022 | $695.26M | Feb 27, 2025 |
| FY2023 | Mar 31, 2022 | $120.52M | May 8, 2023 |
| FY2023 | Dec 31, 2021 | $444.18M | Feb 27, 2024 |
| FY2022 | Dec 31, 2020 | $259.00M | Feb 24, 2023 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $3.27B | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $2.79B | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | ($233.26M) | Feb 25, 2026 |
| FY2023 | Mar 31, 2023 | $707.57M | May 8, 2023 |
| FY2024 | Dec 31, 2022 | ($734.11M) | Feb 27, 2025 |
| FY2023 | Mar 31, 2022 | $224.15M | May 8, 2023 |
| FY2023 | Dec 31, 2021 | ($2.60B) | Feb 27, 2024 |
| FY2022 | Dec 31, 2020 | ($425.66M) | Feb 24, 2023 |
| FY2021 | Dec 31, 2019 | ($2.08B) | Feb 28, 2022 |
| FY2020 | Dec 31, 2018 | ($1.42B) | Feb 25, 2021 |
Capital Expenditures (Capex)
Cash spent on acquiring or upgrading physical assets — property, equipment, and infrastructure. High capex businesses include manufacturing, telecom, and energy companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2018 | Dec 31, 2018 | $18.42M | Feb 26, 2019 |
| FY2018 | Dec 31, 2017 | $33.16M | Feb 26, 2019 |
| FY2018 | Dec 31, 2016 | $11.91M | Feb 26, 2019 |
| FY2017 | Dec 31, 2015 | $10.68M | Mar 1, 2018 |
| FY2016 | Dec 31, 2014 | $16.66M | Feb 27, 2017 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $28.63B | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $24.88B | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | $24.73B | Feb 27, 2025 |
| FY2023 | Mar 31, 2023 | $21.93B | May 8, 2023 |
| FY2023 | Dec 31, 2022 | $22.00B | Feb 27, 2024 |
| FY2022 | Dec 31, 2021 | $21.61B | Feb 24, 2023 |
| FY2021 | Dec 31, 2020 | $15.17B | Feb 28, 2022 |
| FY2020 | Dec 31, 2019 | $12.01B | Feb 25, 2021 |
| FY2019 | Dec 31, 2018 | $10.15B | Feb 28, 2020 |
| FY2019 | Dec 31, 2017 | $8.56B | Feb 28, 2020 |
Total Liabilities
All financial obligations owed to outside parties — including debt, accounts payable, accrued expenses, and deferred revenue. Subtracting liabilities from total assets gives stockholders' equity.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $19.93B | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $17.49B | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | $19.71B | Feb 27, 2025 |
| FY2023 | Mar 31, 2023 | $17.34B | May 8, 2023 |
| FY2023 | Dec 31, 2022 | $17.10B | Feb 27, 2024 |
| FY2022 | Dec 31, 2021 | $16.69B | Feb 24, 2023 |
| FY2021 | Dec 31, 2020 | $12.60B | Feb 28, 2022 |
| FY2020 | Dec 31, 2019 | $10.16B | Feb 25, 2021 |
| FY2019 | Dec 31, 2018 | $8.76B | Feb 28, 2020 |
| FY2019 | Dec 31, 2017 | $7.10B | Feb 28, 2020 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $4.28B | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $3.54B | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | $1.89B | Feb 27, 2025 |
| FY2023 | Mar 31, 2023 | $1.67B | May 8, 2023 |
| FY2023 | Dec 31, 2022 | $1.59B | Feb 27, 2024 |
| FY2022 | Dec 31, 2021 | $1.83B | Feb 24, 2023 |
| FY2021 | Dec 31, 2020 | $1.19B | Feb 28, 2022 |
| FY2020 | Dec 31, 2019 | $768.29M | Feb 25, 2021 |
| FY2019 | Dec 31, 2018 | $587.92M | Feb 28, 2020 |
| FY2019 | Dec 31, 2017 | $1.46B | Feb 28, 2020 |
Goodwill
An intangible asset representing the premium paid above fair value when acquiring another company. A large goodwill balance signals a history of acquisitions at premium prices.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $3.45B | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | $1.16B | Feb 25, 2026 |
| FY2025 | Dec 31, 2023 | $1.12B | Feb 25, 2026 |
| FY2023 | Mar 31, 2023 | $998.94M | May 8, 2023 |
| FY2024 | Dec 31, 2022 | $999.66M | Feb 27, 2025 |
| FY2023 | Dec 31, 2021 | $787.97M | Feb 27, 2024 |
| FY2021 | Jun 2, 2021 | $417.80M | Feb 28, 2022 |
| FY2022 | Dec 31, 2020 | $371.05M | Feb 24, 2023 |
| FY2021 | Dec 31, 2019 | $143.86M | Feb 28, 2022 |
| FY2020 | Dec 31, 2018 | $143.79M | Feb 25, 2021 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($1.45B) | Feb 25, 2026 |
| FY2025 | Dec 31, 2024 | ($837.29M) | Feb 25, 2026 |
| FY2024 | Dec 31, 2023 | ($495.08M) | Feb 27, 2025 |
| FY2023 | Mar 31, 2023 | ($420.82M) | May 8, 2023 |
| FY2023 | Dec 31, 2022 | ($369.48M) | Feb 27, 2024 |
| FY2022 | Dec 31, 2021 | ($89.38M) | Feb 24, 2023 |
| FY2021 | Dec 31, 2020 | ($151.82M) | Feb 28, 2022 |
| FY2020 | Dec 31, 2019 | ($50.82M) | Feb 25, 2021 |
| FY2019 | Dec 31, 2018 | ($29.34M) | Feb 28, 2020 |
| FY2018 | Dec 31, 2017 | $0 | Feb 26, 2019 |
Shares Outstanding
Total common shares issued and held by all shareholders, excluding treasury shares. Combined with market price gives market capitalization.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2024 | Dec 31, 2024 | 313.17M | Feb 27, 2025 |
| FY2024 | Dec 31, 2023 | 307.59M | Feb 27, 2025 |
| FY2023 | Mar 31, 2023 | 301.80M | May 8, 2023 |
| FY2023 | Dec 31, 2022 | 294.61M | Feb 27, 2024 |
| FY2022 | Dec 31, 2021 | 290.45M | Feb 24, 2023 |
| FY2021 | Dec 31, 2020 | 259.63M | Feb 28, 2022 |
| FY2020 | Dec 31, 2019 | 115.24M | Feb 25, 2021 |
| FY2019 | Dec 31, 2018 | 101.60M | Feb 28, 2020 |
| FY2018 | Dec 31, 2017 | 0 | Feb 26, 2019 |