Ares Management LP (ARES) financial statements
Ares Management LP reported revenue of $5.6B in fiscal 2025, up 18.7% a year over 9 years.
Net income was $527M.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Ares Management LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2B | $1.5B | $958M | $1.8B | $1.8B | $4.2B | $3.1B | $3.6B | $3.9B | $5.6B |
| Selling, general and admin | — | — | — | — | $259M | $444M | $695M | $660M | $737M | $996M |
| Interest expense | $18M | $21M | — | — | $25M | $37M | $71M | — | — | — |
| Pre-tax income | $298M | $150M | $184M | $425M | $379M | $1.1B | $511M | $1.3B | $1.3B | $1.3B |
| Income tax | $11M | -$23M | $32M | $52M | $55M | $147M | $72M | $173M | $165M | $199M |
| Net income | $112M | $76M | $57M | $149M | $152M | $409M | $168M | $474M | $464M | $527M |
| Net margin | 9.3% | 5.1% | 5.9% | 8.4% | 8.6% | 9.7% | 5.5% | 13.1% | 11.9% | 9.4% |
Balance sheet
Fiscal years, from Ares Management LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $343M | $119M | $110M | $138M | $540M | $344M | $390M | $348M | $1.5B | $489M |
| Goodwill | $144M | $144M | $144M | $144M | $371M | $788M | $1000M | $1.1B | $1.2B | $3.5B |
| Total assets | $5.8B | $8.6B | $10.2B | $12.0B | $15.2B | $21.6B | $22.0B | $24.7B | $24.9B | $28.6B |
| Total liabilities | $4.5B | $7.1B | $8.8B | $10.2B | $12.6B | $16.7B | $17.1B | $19.7B | $17.5B | $19.9B |
| Shareholders' equity | $293M | $1.5B | $588M | $768M | $1.2B | $1.8B | $1.6B | $1.9B | $3.5B | $4.3B |
| Net debt | -$343M | -$119M | -$110M | -$138M | -$540M | -$344M | -$390M | -$348M | -$1.5B | -$489M |
Cash flow
Fiscal years, from Ares Management LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$626M | -$1.9B | -$1.4B | -$2.1B | -$426M | -$2.6B | -$734M | -$233M | $2.8B | $3.3B |
| Capital spending | $12M | $33M | $18M | — | — | — | — | — | — | — |
| Free cash flow | -$638M | -$1.9B | -$1.4B | — | — | — | — | — | — | — |
| Stock-based compensation | $39M | $70M | $90M | $98M | $123M | $237M | $200M | $256M | $353M | $741M |
| Free cash flow margin | -53.2% | -128.1% | -149.8% | — | — | — | — | — | — | — |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for ARES.
Open ARES in InvestinglyQuestions
What was Ares Management LP's revenue in 2025?
$5.6B in fiscal 2025, from its 10-K filing.
From Ares Management LP's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.